Alaska Airlines, United Airlines and Turkish Airlines have grounded their 737 MAX 9 aircraft following an accident on Friday during an Alaska Airlines flight.
The airlines — and others to be announced — took the action over the weekend after part of the plane tore off about 10 minutes after Alaska Airlines Flight 1282 at an altitude of about 16,000 feet.
No one died in the crash, but the Federal Aviation Administration ordered “certain” Boeing 737 MAX 9 aircraft to be temporarily grounded. The order includes 171 aircraft.
Boeing BA shares,
It fell 6.3% as the stock weighed on the Dow Jones Industrial Average (DJIA)..
Read more: How the recent Boeing 737 MAX problem hurt the Dow Jones
Shares of fuselage manufacturer Spirit Aerosystems Inc. SPR,
Decreased by 6.8%.
The 737 MAX 9 releases are likely to disrupt United UAL's first-quarter results, said Ravi Shanker, an analyst at Morgan Stanley.
and Alaska Airlines ALK,
“We hope this situation will be resolved in days/weeks rather than months, but it will also serve as a reminder of how fragile airline capacity is despite surplus capacity,” Shanker said in a research note on Monday.
United Airlines rose 2.4%, while Alaska Air fell 0.1%.
Reports said that along with United Airlines, Alaska Air and Turkish Airlines, Copa Airlines and Aeromexico grounded about 40 Boeing 737 MAX 9 aircraft.
According to Deutsche Bank analysts, the affected fleet represents 16.1% of Alaska Airlines flights and 6.6% of United Airlines flights, even though United has more than 737 Max 9 aircraft from Alaska.
Other airlines with the aircraft in their fleet include India's Jet Airways with one aircraft, Korea's Jin Air with three aircraft, and KLMR Royal Dutch Airlines.
With five, Korean Air 003490,
With nine, according to Planespotter.net.
Along with the FAA, European regulators have also grounded the 737 MAX 9 for inspection.
Some major airlines do not have any 737 MAX 9 aircraft in their fleets, including AAL, American Airlines.
Southwest Airlines LUV,
and Air Canada AC,
Based on reports.
Read also: Shares of Boeing and tank supplier Spirit AeroSystems slump after panel explosion
