Boeing Co (NYSE:BA) shares are trading lower Monday after an exit door blew out of a 737 aircraft during a commercial flight.
What To Know: The Federal Aviation Administration grounded 171 Boeing jets over the weekend after travelers aboard an Alaska Air Group Inc (NYSE:ALK) flight were forced to make an emergency landing after a panel flew off a new 737 MAX 9 shortly after takeoff, per Reuters.
Video of the event went viral after passengers filmed an open hole in the side of the fuselage as the plane was in flight. The door plug reportedly tore off the left side of the jet following takeoff from Portland, Oregon, which forced the pilots to turn around and make an emergency landing.
New reports indicate that a warning light that could have indicated a pressurization problem lit up on three different flights before the incident occurred.
"They will remain grounded until the FAA is satisfied that they are safe," the FAA reportedly said in a statement.
The Emergency Airworthiness Directive will require operators to inspect all impacted aircraft before they can fly again. The statement indicates that the inspections will take between four and eight hours per plane.
Boeing is scheduled to release its fourth-quarter financial results on Jan. 31. According to estimates from Benzinga Pro, the company is expected to report a loss of 91 cents per share and revenue of $21.034 billion.
BA Price Action: Boeing shares were down 6.27% at $233.39 at the time of publication, according to Benzinga Pro.
Photo: courtesy of Boeing.
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