Newspaper reports over the weekend raised more questions about the certification process for Boeing’s 737 MAX jets, leading shares for the troubled aircraft maker, which was recently involved in two deadly crashes, to continue falling.
Boeing’s shares were down 2.8 per cent in early trading, after a Wall Street Journal report on Sunday said the US Transportation Department was probing the approval of the 737 MAX by the Federal Aviation Administration (FAA), particularly the aircraft’s anti-stall system.
Meanwhile, the Seattle Times separately reported that Boeing’s safety analysis of a new control system had crucial flaws, including understating power.
Shares of the company have declined about 10 per cent since the Ethiopian crash on 10th March that killed 157 people.
According to Refinitiv data quoted by Reuters, the crash has wiped nearly $25 billion (€22 billion) off its market capitalisation,
Ethiopian authorities said on Sunday that the crash of the Ethiopian Airlines plane had ‘clear similarities’ with the Indonesian Lion Air crash which took place in October, killing all 189 passengers and crew.