From CNBC:

Dozens of Boeing 737 Max 9 aircraft were grounded for inspection after a door plug blew out during an Alaska Airlines flight on Friday. Boeing shares fell 9%, while Alaska Airlines shares dropped 4%. The incident is bringing renewed scrutiny to Boeing and CEO Dave Calhoun’s efforts to restore investor confidence.

The Federal Aviation Administration (FAA) has ordered the grounding of 171 Boeing Max 9 planes for inspection. It is a rare move from aviation authorities to have such large scale groundings. This incident occurred as Boeing was ramping up production of the Max model, raising concerns over quality control and labor inexperience.

The National Transportation Safety Board described the frightening few minutes on board Alaska Airlines Flight 1282, including a loud bang, violent forces, and the cockpit door being blown open. The incident has prompted investor speculation about Boeing’s management and Airbus gaining market share. Boeing will face considerable pressure to explain the situation, leading to significant challenges for the company’s future prospects.



Read more: Boeing stock slides after FAA grounds 737 Max 9s