Grounded
Boeing is facing intense scrutiny from the Federal Aviation Administration, investors, and nervous flyers after the fuselage of one of its airplanes blew out midway through an Alaska Airlines flight, leaving a gaping hole in the side of the aircraft and forcing an emergency landing. Amazingly, there were no casualties from the accident.
Even so, the FAA has ruled that 171 Boeing 737 Max 9 planes will remain grounded while the aviation body inspects the jets further, as the airplane manufacturer’s share price descended 9% before markets opened today — compounding a difficult few years for the company, which has seen its market capitalization halve since 2019.
