Boeing Slides As BEA Confirms "Clear Similarities" In 737 Crashes, Ethiopian Air Freezes Orders

By Tyler Durden of ZeroHedge
Monday, March 18, 2019 12:32 PM EDT

Boeing shares are sliding back lower off their opening rebound from overnight lows of FAA/Boeing probe headlines.

(Click on image to enlarge)

Confirming the Ethiopian government's comments yesterday, Bloomberg reports that the team investigating the crash of a Boeing 737 Max operated by Ethiopian Airlines noted “clear similarities” between the flight-recorder data from the crashed airplane and that of Lion Air Flight 610, French air-safety agency BEA says in a tweeted statement:

Data from the flight-data recorder and the cockpit voice recorder has been transferred to the Ethiopian Accident Investigation Bureau, BEA says.

“During the verification process of the FDR data, clear similarities were noted by the investigation team between Ethiopian Airlines Flight 302 and Lion Air Flight 610, which will be the subject of further study during the investigation.”

Ethiopian Accident Investigation Bureau plans to release a preliminary report within 30 days

Additionally, it appears the backlog of orders that underpins so many of the analyst community's unrelenting bullishness may be under pressure as Ethiopian Airlines Group’s remaining orders for Boeing Co. 737 Max aircraft will depend on preliminary results of an investigation of a March 10 crash that killed 157 people, according to spokesman Asrat Begashaw.

Ironically, as Reuters reports that Boeing’s losses are not Airbus’ gains, because, unfortunately for 91 billion euro Airbus, chock-full production lines and order books stretching for years mean it can’t take up much slack.

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