Boeing Downgraded by Barclays on Survey Showing Flyers Will AVOID 737 MAX Flights
People Will Avoid the Boeing 737 MAX
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May 7, 2019 - by Michael Sheetz for cnbc.com
- Barclays' survey of airline passengers says many people will avoid the 737 Max "for an extended period" once the aircraft is flying again.
- "Nearly half won't fly MAX for year or more," Barclays says.
- Regulators around the world grounded the plane in mid-March after the crash of an Ethiopian Airlines 737.
Barclays lowered its rating of Boeing shares to equal weight from overweight on Tuesday, saying the firm's survey of airline passengers found that many people will avoid the 737 Max "for an extended period" once the grounded aircraft is flying again.
"In order to gauge perception of the 737 MAX, we surveyed 1,765 fliers in N America and Europe, reflecting a broad mix of age groups, income levels and frequency of airline travel," Barclays said in a note to investors.
"Nearly half won't fly MAX for year or more." Barclays said. "If given the choice between a MAX and another aircraft type on otherwise identical flights, 52% would choose the other aircraft type."
Boeing shares fell 1.3% in premarket trading from Monday's close of $371.60 a share.
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