Boeing shares fall amid Malaysia Airlines mystery
The search continues for any trace of the 777 aircraft that vanished this weekend. Meanwhile, hairline cracks were found in some 787 Dreamliner planes still in production.
With this grave backdrop, it should come as no surprise that shares of Malaysia Airlines opened Monday trading on the Kuala Lumpur exchange with a 16 percent drop. Shares slowly stabilized throughout the day before eventually closing with a 4 percent decline.
This flaw could further delay production of the 787 Dreamliner, the line that was supposed to be Boeing's crown jewel but has instead been plagued with problems. The good news is that the hairline cracks found on the works-in-progress planes have not been found in planes in use.
In other, unrelated airline news, shares of American Airlines (AAL) were down 0.2 percent Monday after the airline announced that it and JetBlue (JBLU) have ended their reciprocal frequent-flier partnership. Effective immediately, customers will no longer earn miles or points when traveling on eligible routes operated by the other airline. The airlines said that any American AAdvantage miles or JetBlue TrueBlue points already accrued through this partnership will be credited to customers' accounts and will not be adversely affected.
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The back-to-school season could be strong, and this year's holiday season could follow suit.
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