The manufacturer Boeing has been suffering severe economic setbacks for two and a half years, when a second 737Max plane fell in Africa, allegedly due to the computer program introduced to regulate its operation. That plane has practically nothing to do with the 737-800 that is currently in distress.
The 737-800 has a maximum capacity of 189 passengers and normally operates with CFM-56 engines. The engines are made by a consortium between General Electric Co of the United States and Safran SA of France.
Boeing shares were selling for $177 after the incident was known. For its part, the owner of the plane, China Eastern, one of the four ‘big’ Chinese airlines, was $15 below its value on Friday.
The engines are made by a joint venture between General Electric Co and France’s Safran SA. GE shares are also down about 1%, while Safran, which is listed on the Paris stock exchange, is down 3%.
The president of China, Xi JinpingHe declared he was “shocked” and called for an investigation so that “the causes of the accident can be determined as soon as possible,” public television CCTV reported.
The last major plane crash in China was in August 2010, with an unconfirmed balance of 42 victims. It was the latest accident involving a Chinese commercial passenger flight to cause civilian casualties.
The deadliest Chinese commercial flight accident was a China Northwest Airlines crash in 1994 in which all 160 people on board died. Most of the passengers aboard Malaysia Airlines flight MH370, which disappeared in March 2014 en route from Kuala Lumpur to Beijing, were from China.
Source: Ambito
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