Shares of Boeing Co dropped more than 12% on Monday amid a broader market plunge...
) dropped more than 12% on Monday amid a broader market plunge as pressure mounted on global aviation from the spread of the coronavirus and U.S. regulators said they disagreed with Boeing’s argument about the safety of wiring bundles on the grounded 737 MAX jet.
Industry sources said airlines, facing a sharp drop in travel demand due to rising coronavirus outbreaks, were starting to request deferring aircraft deliveries and cash downpayments to Boeing and European rival Airbus .
Calhoun’s email came as the U.S. Federal Aviation Administration told Boeing on Friday it did not agree with the planemaker’s argument that its 737 MAX wiring bundles meet safety standards. Nonetheless, the FAA said it was now up to Boeing to decide how to proceed.
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