Boeing 737 Passenger Jet Of China Eastern Airlines Crashes With 132 On Board: Bloomberg

China Eastern Airlines Corp. CEA Boeing Co. BA 737-800NG plane carrying 132 people crashed in China’s southwestern province of Guangxi, reported Bloomberg.

According to FlightRadar24, China Eastern flight MU5735 was seen on the radar tracking descending steeply.

The Civil Aviation Administration of China confirmed the crash and said 123 passengers and nine crew members were on board.

Bloomberg notes that China Eastern’s 737-800NG crash comes at the wrong time for Boeing, as it is preparing to re-enter its 737 Max into commercial service in the country, a lucrative aviation market.

Boeing had flown a Max to its completion and delivery center in Zhoushan, China, for the first time since the model received recertification, Bloomberg News reported at the start of March month.

The aircraft involved in the crash wasn’t a new-generation Boeing Max jet.

The 737-800 NG, or Next Generation, is part of the Boeing single-aisle family, which preceded the 737 Max.

Price Action: CEA shares are trading lower by 12.80% at $16.60 and BA lower by 6.30% at $180.51 during the premarket session on Monday.

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