China has seized several Boeing jets as part of a probe into aviation safety concerns, according to a report. The move is a significant setback for the US-based aerospace company and its stock price.
The Chinese government has been investigating Boeing over allegations of safety issues with its 737 MAX aircraft. As part of this investigation, authorities have confiscated multiple Boeing planes from airlines operating in China.
The seizure of Boeing jets marks a headwind for the aviation giant’s stock price, which has already faced significant challenges due to the ongoing COVID-19 pandemic and ongoing regulatory probes.
Source: https://www.barrons.com/articles/boeing-stock-price-china-jets-c2b1bef2