Boeing Shares Plummet After Emergency Landing of Alaska Airlines Flight
Shares of Boeing took a sharp nosedive on Wall Street as a result of the immobilization of the majority of 737 Max 9 model aircraft. This decision followed an incident on an Alaska Airlines flight last Friday in Oregon, where part of the fuselage detached mid-flight.
The minor used in the incident, made by Spirit AeroSystems, also faced significant losses on the stock market, plunging close to 15% in the first stages of trading and closing with an 11% decrease. Meanwhile, Alaska Airlines opened lower with a 5% decrease but managed to recover during the session.
Investigations are underway to determine the cause of the detached panel, which appeared in a Portland professor’s yard on Sunday. Authorities are also looking into a warning light that came on during three previous flights of the same aircraft, indicating a potential pressurization problem.
Since conducting preliminary inspections, United Airlines has also found deficiencies in aircraft of the same model, including issues with loose bolts and installation problems with the door stopper.
As a result, airlines have been forced to ground their 737-9 Max planes, resulting in the cancellation of hundreds of flights. The incident has reignited scrutiny over Boeing and its 737 MAX model, which had its flight permit withdrawn in 2019 following two fatal accidents.
The grounding of the aircraft also brings back memories of the flaws in the design of the model’s stabilization system and Boeing’s lack of transparency, resulting in investigations and substantial fines.
The incident has put Boeing and its 737 MAX model back in the spotlight, as airlines are once again forced to grapple with the ramifications of safety concerns.