Boeing turns negative as Canada bars 737 Max 8 and Max 9 from its airspace
Canada has joined Europe and many Asian countries in deciding to ban the Boeing 737 Max 8 and Max 9 aircraft BA, +0.07% from its airspace, Transport Minister Marc Gareau said Wednesday. Gareau said the decision was made after examining satellite tracking data that is collected when certain aircraft take off and which tracks direction and the vertical profile of the plane as well as any fluctuations.
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Boeing stock is set to plunge again after Australia joins Singapore in suspending 737 Max flights
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Southwest says it remains 'confident' in its fleet of Boeing planes after Ethiopia crashSouthwest Airlines Co. expressed confidence in its Boeing Co. aircraft and said has no plans to change operations in the wake of a deadly crash involving a 737 Max 8 aircraft in Ethiopia. But shares of the airline fell over 3% in premarket trading, alongside a nearly 9% drop in Boeing shares. "As Southwest operates a fleet of 34 Boeing 737 MAX 8 aircraft, we have been in contact with Boeing and will continue to stay close to the investigation as it progresses," said a spokesman for the company. Ethiopian Airlines Flight 302 crashed shortly after takeoff from the capitol of Addis Ababa, killing all 157 people on board. It's the second deadly accident involving Boeing's popular 737 Max 8 in six months, with the last occurring in October when an Indonesia Lion Air jet crashed into the sea, killing all 189 on board. China's civilian aviation authority has ordered all airlines to ground those Max 8 planes, while Ethiopian Airlines has grounded its entire fleet of those planes. "We don't have any changes planned to our operational policies or procedures," said the Southwest spokesman. Losses for Boeing drove a 170-point drop in Dow futures.
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