Alaska Airlines, United Airlines and Turkish Airlines have grounded their 737 MAX 9 airplanes in the wake of a Friday incident during an Alaska Airlines flight.
The airlines — and others to be announced — took the action over the weekend after part of the plane tore away about 10 minutes into Alaska Airlines Flight 1282 at an altitude of about 16,000 feet.
No one died in the incident but the Federal Aviation Administration ordered the temporary grounding of “certain” Boeing 737 MAX 9 aircraft. The order covered 171 planes.
Shares of Boeing Co.
BA,
fell 6.3% as the stock weighed on the Dow Jones Industrial Average
DJIA.
Read more: How Boeing’s latest 737 Max problem is hurting the Dow
Fuselage maker Spirit Aerosystems Inc.’s stock
SPR,
was down by 6.8%.
Morgan Stanley analyst Ravi Shanker said the 737 Max 9 issues will likely disrupt first-quarter results for United
UAL,
and Alaska Air
ALK,
“This will hopefully be a situation resolved in days/weeks rather than months, but it will also serve as a reminder of how fragile airline capacity can be despite the overhang of capacity,” Shanker said in a Monday research note.
United Airlines’ stock rose 2.4%, while Alaska Air’s stock dipped by 0.1%,
Along with United Airlines, Alaska Air and Turkish Airlines, Copa Airlines and Aeromexico grounded about 40 Boeing 737 MAX 9 planes, according to reports.
According to Deutsche Bank analysts, the affected fleet accounts for 16.1% of Alaska Airlines flights and 6.6% of United Airlines flights, though United has more 737 Max 9 aircraft than Alaska.
Other airlines with the plane in their fleet include Jet Airways of India with one plane, Jin Air of Korea, with three, KLM Royal Dutch Airlines
KLMR,
with five, Korean Air
003490,
with nine, according to Planespotter.net.
Along with the FAA, European regulators also grounded the 737 MAX 9 for inspection.
Some major airlines do not have any 737 MAX 9s in their fleets including American Airlines
AAL,
Southwest Airlines Co.
LUV,
and Air Canada
AC,
according to reports.
Also read: Shares in Boeing slump, supplier Spirit AeroSystems tanks, after panel blows out
