Gabelli Funds Portfolio Manager and Analyst Tony Bancroft in Reuters

Boeing shares fall after MAX 9 groundings

Jan 8 (Reuters) – Boeing (BA.N) shares plunged to close 8% lower on Monday following the temporary grounding of some of its best-selling 737 MAX jets by the U.S. aviation regulator.

A piece of fuselage tore off an Alaska Airlines 737 MAX 9 jet on Friday following takeoff from Portland, Oregon, forcing pilots to turn back. The U.S. Federal Aviation Administration (FAA) subsequently ordered the temporary grounding of 171 narrowbody MAX 9 jets with a similar configuration.

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