Money

Boeing shares tumble following horrific plane crash in China

Published

2 years ago

March 22, 2022

Boeing’s shares have tumbled after a China Eastern Airlines 737 800 crashed with 132 people on board

The plane had a sudden descent from cruising altitude, with rescue workers reportedly finding no signs of life at this stage.

The exact cause of the crash remains unknown, but Boeing’s stocks have fallen regardless, as the company launches a full investigation.

The planemaker’s shares fell 4.5% in early trading, with the Chinese airline’s US listed ADR’s down about 9%.

The aircraft involved is six years old, as China Eastern Airlines grounds its entire 737 fleet, consisting of 109 planes.

Companies involved in the construction of the aircraft have also recorded a drop, including parts suppliers Spirit AeroSystems, Hexcel Corp and Triumph Group.

Boeing 737 carrying 133 passengers crashes in southern China

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William Howard

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

Money

Why the meme-stock frenzy is unlikely to repeat

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Why are airlines after the Biden Administration?

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May 14, 2024

Nathan Langridge

Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

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The mounting pressure on Government spends

Published

3 days ago

May 13, 2024

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending