'This tragic incident will be a massive hurdle for Boeing to overcome.'
"This tragic incident will be a massive hurdle for Boeing to overcome," said Jasper Lawler, head of research at London Capital Group.
Boeing shares are down 9% in pre-market trading as of 9 a.m in London and are set to drag down the Dow with futures down 0.8%. The company has postponed the debut of a new plane, the 777X Jetliner, which was planned for this week in light of the fallout from the Ethiopia crash. Both flights involved brand new planes which crashed just a few minutes into their respective flights and is Boeing's bestselling aircraft of its type. Boeing sold 580 737s last year, 72% of the company's total
The cause of the crash is not yet known. However, flight tracking website Flightradar24 detected that the flight had shown"unstable vertical speed" before crashing.Get the latest Boeing stock price
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