Boeing shares slide in Frankfurt after FAA grounds some MAX 9s

LONDON (Reuters) – Boeing (NYSE:) shares listed in Frankfurt fell as much as 8% on Monday after the U.S. Federal Aviation Administration ordered the temporary grounding of some Boeing 737 MAX 9 jets fitted with a panel that blew off a jet in midair on Friday.

Shares in rival manufacturer Airbus were up 2% on the Tradegate platform.

Boeing competes with Airbus, which has extended gains in market share, since two Boeing MAX crashes in 2018 and 2019 that killed nearly 350 people and led to the MAX’s worldwide grounding for 20 months.