The late-2013 sales launch of Boeing‘s (NYSE: BA) 777X widebody jet was a game changer for the upper end of the commercial aircraft market. Thanks to folding wingtips and a pair of GE9X jet engines from General Electric (NYSE: GE) — the largest ever created — the massive 777X made four-engine jets obsolete virtually overnight. (This culminated in Airbus‘ decision earlier this year to start winding down production of its A380 jumbo jet.)
Boeing (BA) shares declined Monday after one of the airline’s new 737 Max 8 models crashed Sunday, killing all passengers on board and raising questions over the safety of the company’s aircraft.
All 157 passengers and crew members aboard Ethiopian Airlines Flight 302 departing from Addis Ababa were killed in a crash on Sunday, which took place minutes into the flight. At least eight Americans were aboard, along with individuals from more than 30 other nationalities.