Boeing Co. is grappling with a crisis after a second 737 Max plane crashed in five months. While investigators are still piecing together why an Ethiopian Airlines 737 Max 8 plunged into a hillside minutes after takeoff Sunday, killing 157 people, China and Indonesia have ordered carriers to ground the revamped narrow-body plane. The U.S. Federal Aviation Administration said Monday that the jet model remains airworthy.
Boeing tumbled the most on the S&P 500 Index on Monday as questions swirled around the newest version of its 737 family, a cash cow that generates almost a third of the company’s operating profit. The Ethiopian disaster followed the crash of a Lion Air 737 Max off the coast of Indonesia in October that killed 189 passengers and crew.
