Boeing shares drop on doubts about 737 Max approval process

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Boeing shares drop on doubts about 737 Max approval process
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The US transport department is examining the aircraft’s design certification before the second of two deadly crashes of the almost brand-new plane

Boeing 737 Max aircraft at the Boeing Renton factory in Washington, the US, March 12 2019. Picture: AFP/JASON REDMOND

A person familiar with the matter on Sunday said that the US transportation department’s inspector-general was examining the plane’s design certification before the second of two deadly crashes of the almost brand-new aircraft. Boeing dropped 2.6% to $369.03 at 9.45am on Monday in New York, heading toward a new low since the deadly crash of Ethiopian Airlines Flight 302 on March 10. Ethiopia’s transport minister said on Sunday that flight-data recorders showed “clear similarities” between the crashes of that plane and Lion Air Flight 610 last October.

The 2012 investigation also found that discord over Boeing’s treatment had created a “negative work environment” among FAA employees who approve new and modified aircraft designs, with many of them saying they’d faced retaliation for speaking up. Their concerns pre-dated the 737 Max development.

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