Boeing’s 737 Max troubles deepen, taking airlines, suppliers with it
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October 21, 2019 - by Leslie Josephs
- Boeing's stock continued to slide after explosive messages revealed pilots' concerns about a flight control system.
- That system, known as MCAS, was implicated in two fatal crashes that killed 346 people.
- Some of Boeing's suppliers, including Spirit AeroSystems, were trading lower.
Several Wall Street analysts downgraded Boeing, fretting about the fallout from the crisis that has barred the manufacturer from delivering its best-selling planes that make up around 40% of its profit.
Some of Boeing's 737 Max suppliers are also trading lower. Spirit Aerosystems, which makes fuselages for the planes, lost 4.8% on Monday, after a downgrade to neutral from UBS. General Electric, which makes engines for the 737 Max in a joint venture with France's Safran SA, fell 1.9%....
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