A Boeing Co BA 737-800 carrying 132 passengers operated by China Eastern Airlines went down while flying over the Guangxi region in China Monday morning.
This comes at a crucial time for Boeing, as the company is rebounding from the 737 MAX being grounded between March 2019 and December 2020 due to two separate crashes in a five-month span.
What Happened: Contact was lost with the aircraft carrying the passengers about halfway into the two-hour flight from Kunming to Guangzhou. The cause is yet to be determined, but fears of the fatal crash possibly being the fault of Boeing caused a sell-off over the course of the trading session.
Shares of Boeing are down 3.59% to $185.90 at market close Monday.
Why It Matters: In the few months between 2019 and 2020 when two Boeing 737 Max planes went down, it pulled down the entire airline industry. It seems that this time sentiment is mixed, with some aircraft manufacturers closing green today.
For investors interested in keeping up with how this news affects the industry, here is a list of aircraft manufacturers and adjacent technologies.
Cae Inc CAE is a Canadian manufacturer of simulation technologies, modeling technologies and training services to airlines, aircraft manufacturers, healthcare specialists and defense customers.
CPI Aerostructures, Inc. CVU is a contract aircraft component manufacturer whose primary customers are the U.S. Department of Defense and also operating as a subcontractor under Boeing and Northrop Grumman.
Gentex Corporation GNTX The company provides commercial smoke detectors and signaling devices to the North American fire protection market, as well as dimmable aircraft windows for the commercial, business and general aviation markets.
Gogo Inc GOGO is a provider of in-flight broadband Internet service and other connectivity services for business aircraft.
Heico Corp HEI is an aerospace and electronics company focusing on niche markets. HEICO’s products are found in aircraft, spacecraft, defense equipment, medical equipment and telecommunications systems.
Honeywell International Inc HON is an American publicly-traded, multinational conglomerate corporation, primarily operating in four areas of business: aerospace, building technologies, performance materials and technologies, as well as safety and productivity solutions.
Lockheed Martin Corporation LMT is an American aerospace, arms, defense, information security and technology corporation with worldwide interests.
Northrop Grumman Corp NOC is one of the world's largest weapons manufacturers and military technology providers.
Raytheon Technologies Corp RTX is an American multinational aerospace and defense conglomerate.
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