BA Boeing Co

By Mauro Orru

Boeing shares in Frankfurt plunged Monday after the Federal Aviation Administration ordered a temporary grounding and immediate inspections of dozens of Boeing 737 MAX jets following an Alaska Airlines emergency landing on Friday.

Alaska Airlines flight 1282 was en route to Ontario, Calif., from Portland International Airport. The flight, however, landed back at the Portland airport less than 30 minutes after takeoff after a section of the aircraft ripped away in midair, with 171 passengers and six crew members aboard.

The FAA said its directive would affect about 171 of the MAX 9 jets, with inspections taking between four and eight hours per aircraft.

At 1000 GMT, Boeing shares in Frankfurt traded 7.3% lower at EUR209.15. Shares in New York, where Boeing has its main listing, are down more than 8% pre-market.

Shares of fuselage maker Spirit AeroSystems Holdings, which is responsible for installing the emergency door configuration involved in Friday's incident, were down more than 15% pre-market.

Write to Mauro Orru at mauro.orru@wsj.com

(END) Dow Jones Newswires

January 08, 2024 05:32 ET (10:32 GMT)

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