Skip to content
Subscriber Only

Boeing Drops Most Since 2001 as Second 737 Crash Grounds Flights

  • Shares tumble as China, Indonesia to halt 737 Max services
  • Ethiopian Airlines disaster killed all 157 people on board
Bloomberg business news
China grounded its fleet of Boeing 737 Max 8 jets after the Ethiopian Air plane crash. Stephen Engle reports.(Source: Bloomberg)
Updated on

Boeing Co. Chief Executive Officer Dennis Muilenburg faces his biggest crisis yet following the second deadly crash of a 737 Max jetliner, as some airlines grounded the best-selling plane and the shares logged their biggest loss since the 9/11 attacks.

China ordered its carriers to ground all 96 of Boeing’s newest 737 model, while Indonesia said it would also halt flights after Ethiopian Airlines Flight 302 went down in a field shortly after takeoff Sunday, killing all 157 people on board. While the flight recorders have now been recovered and must be analyzed, the disaster bore similarities to the doomed Lion Air 737 Max that crashed in October.