Boeing shares tumble following Ethiopian Airlines plane crash


In early morning pre-market trading on Monday Boeing’s shares dropped more than 9%, following the fatal Ethiopian Airlines plane crash on Sunday morning killing 157 people.

American plane maker Boeing are under fire to guarantee safety of their Boeing 737 MAX 8 aeroplanes, after the Ethiopian Airlines crashed killed 157 people on Sunday morning six minutes after taking off.

The Civil Aviation Administration of China has issued a notice on Monday morning ordering all Boeing 737 MAX 8 aircraft are to be suspended.

According to Flightradar24, a flight tracking website said the Ethiopian Airlines Boeing 737 “had an unstable vertical speed” after taking off.

Five months ago, another Boeing 737 MAX 8 aircraft owned by Lion Air, flight JT 610 crashed in to the ocean near to Indonesia killing all 189 people on board.

At the time, Boeing issued a warning to airlines using the 737 MAX 8 planes, as a sensor failure was to blame, and potentially the cause of the crash of flight JT 610.

The black box was investigated by Indonesian authorities and indicated the aircraft “experienced erroneous input from one of its AoA (Angle of Attack) sensors.”

The Civil Aviation Administration of China said in a statement, “Given that two accidents both involved newly delivered Boeing 737 Max 8 planes and happened during take-off phase, they have some degree of similarity.”