Boeing loses value after a fatal crash during the weekend
Mar 14, 2019
Boeing has lost $16.6 billion of its value since the crash that killed 157 people in Ethiopia on Sunday. The shares dropped 11% from $422 to $375 before going slightly up on Wednesday. The company's value fell to $212 billion down from $238 billion after carriers around the world have grounded Boeing's 737 Max, including China and Mexico. This last crash in Ethiopia took place only five months after a similar plane flying for Lion Air crashed in Indonesia, killing all 189 passengers, but US authorities keep defending the American-made aircraft and consider it is still safe to fly in it.