Boeing share price, stock: How Boeing 737-800 which account for nearly 1 in 7 passenger planes in world is causing Wall Street shocker?
Boeing share price fell on New Year's eve after Jeju Air airplane crash in South Korea killing 179 people. Boeing stock was down more than 2 per cent. The South Korea crash involves Boeing 737-800 model which is widely used by airlines across the world.
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Boeing's 737-800 line of planes has a stellar safety record, aviation experts said. Nearly 200 airlines worldwide use the plane, which has been flying for more than 25 years. Thousands of the aircraft are in circulation, accounting for about 1 in 7 passenger planes in service around the world, according to Cirium, an aviation data firm, NYT News Service reported.
South Korea's transportation ministry said on Monday that it would conduct inspections of the 101 Boeing 737-800 planes used by airlines in the country, including Jeju Air. The inspections were set to start Monday and be completed by Friday.
Boeing said in a statement on Sunday that it was in contact with Jeju Air and was ready to help the airline. Jeju Air's stock fell 8.7 per cent at the close of trading in Seoul on Monday, hitting a record low.
The crash in South Korea came at the end of another difficult year for Boeing, as it has continued to face labor strife, questions about quality control, mounting debt and supply chain issues. The company's shares have lost more than 30 per cent of their value in 2024.
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