Boeing drops 9% after grounding of 737 Max 9s by FAA✈️

Boeing shares are down nearly 9% ahead of the cash session on Wall Street, after the FAA (U.S. Federal Aviation Administration) grounded some MAX 9s following the fuselage failure of an Alaska Airlines plane on Friday. As media outlets have determined, the torn-out section of the Alaska Airlines plane's fuselage was a plug - covering the spot where some airlines place an additional emergency exit.

Source: Bloomberg Financial LP

The U.S. aviation regulator said 171 Boeing 737 Max 9s must be grounded for inspection. Alaska said the flight disruptions will last until next week. United Airlines grounded 79 planes.

Source: Bloomberg Financial LP

The disruption is likely to primarily affect flights in the U.S., EASA, or the European Union's aviation safety agency, has communicated that flight disruptions on the Old Continent will be minimal due to the fact that, in its view, no European airlines operate these aircraft models. The required inspections will take about four to eight hours per aircraft, the FAA reported.

Source: xStation