Stephen Brashear | Getty Images
A Boeing 737 MAX 8 airliner lifts off for its first flight on January 29, 2016 in Renton, Washington.
Shares of Dow component Boeing retreated more than 9 percent in Monday’s premarket, a day after a new Ethiopian Airlines Boeing 737 MAX 8 plane crashed shortly after takeoff, killing all 157 people on board and marking the second fatal crash of the manufacturer’s best-selling aircraft in less than five months.
domestic airlines to ground the Boeing 737 MAX 8 jets, a move later echoed in Indonesia, a rare measure. Cayman Airways and Ethiopian Airlines said they, too, would take the planes out of service temporarily.
Ethiopian Airlines Flight 302 crashed shortly after takeoff for Nairobi from the Ethiopian capital Addis Ababa on Sunday. In a notice posted on its website, China’s aviation regulator said the crash was similar to that of Lion Air Flight 610, another Boeing 737 MAX 8, which went down in the Java Sea in October, minutes after departing Jakarta.
Boeing shares have gained more than 31 percent this year, making the stock the biggest gainer in the Dow Jones Industrial Average.
Investigators on Monday were looking for clues in what brought down Ethiopian Airlines’ 4-month-old plane. The so-called black boxes, which contain flight data and cockpit voice recordings were recovered, the airline said.
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