European suppliers take hit after Boeing halts 737 MAX production

Tuesday, 17. December 2019 12:20

Boeing's European suppliers took a punch on Tuesday after the US aerospace giant announced it would temporarily suspend the production of its troubled aircraft, 737 MAX, in January 2020.

Safran, the French company which, among other components, manufactures engines and electrical wiring for the aircraft, plunged 3.43% at 12:07 pm CET, emerging as the worst performer on the Euronext stock exchange. Senior Plc, which accounts for Boeing as its biggest customer and supplies it with airframes and engine build-up tubes, also followed suit, plummeting 8.07% at 12:10 pm CET.

Boeing's stock sank 1.53% in premarket trade.

Meanwhile, Boeing's biggest competitor Airbus rose slightly at 12:14 pm CET, rising 0.56%.

Related Links: Airbus SEBoeing CompanyGKN plcSenior plcSafran SA
Author:
Breaking the News / GG