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Boeing’s shares rise

13th Mar 19 2:15 pm

American plane maker Boeing has seen shares rise in pre-market trading, the company was 1.49% up prior to the US markets opening.

Boeing has had an estimated $25bn wiped from their share value, since the Ethiopian air crash that killed 157 on board.

Monday shares dropped 9% and Tuesday they fell just over 6%. Boeings shares were valued at $446.01 at the beginning of March, at the close of trading on Tuesday the share price was $378.42.

Many countries have suspended all flights until further notice over Boeing’s 737 MAX 8 aircraft.

Yesterday the UK’s Civil Aviation Authority (CAA) has announced, “as a precautionary measure” Boeing 737 MAX aircraft are banned from operating in, of over UK airspace.

The CAA made their decision following Ethiopian Airlines crash that killed 157 people on Sunday, and a Lion Air crash five months ago in Indonesia.

In a statement the CAA said, “The UK Civil Aviation Authority has been closely monitoring the situation, however, as we do not currently have sufficient information from the flight data recorder we have, as a precautionary measure, issued instructions to stop any commercial passenger flights from any operator arriving, departing or overflying UK airspace.”

Australia’s Civil Aviation Authority also announced on Tuesday, “This is a temporary suspension while we wait for more information to review the safety risks of continued operations of the Boeing 737 MAX to and from Australia.”

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