Boeing & Spirit AeroSystems Shares Plunge After Max 737-9 Max Door Blowout Incident

Boeing shares dropped in premarket trading after an emergency door separated from an Alaska Airlines 737-9 Max jet. This incident led to the grounding of the jets by the Federal Aviation Administration and the European Union Aviation Safety Agency for inspections. Analysts have suggested that the door separation may be due to a manufacturing oversight at Spirit AeroSystems, Boeing’s key supplier. Ongoing quality control issues pose a significant threat to Boeing’s turnaround efforts. As a result, Boeing shares saw a significant decline, while shares of competitor Airbus rose.