(Reuters) - Boeing Co shares fell by the most in three years on Monday after China, Indonesia and Ethiopia ordered airlines to ground their 737 MAX 8 planes following the second deadly crash of one of the jets in just five months.

The drop - around 7 percent in late morning trade - wiped nearly $16 billion off Boeing’s market value, marking an abrupt reversal for a stock that had been the runaway top performer this year in the Dow Jones Industrial Average.

With a stock price near $400 a share, it was by far the largest drag on the price-weighted blue chip index on Monday.

A Nairobi-bound Boeing 737 MAX 8 operated by Ethiopian Airlines crashed minutes after takeoff from the country’s capital Addis Ababa on Sunday, killing all 157 on board. The same model, flown by Lion Air, crashed off the coast of Indonesia in October, killing all 189 on board.

“The grounding of the 737 MAX by China, Indonesia, and Ethiopian are near-term reputational negatives for Boeing that could impact sales, particularly if the FAA follows suit and also grounds the plane,” Cai von Rumohr, analyst at Cowen & Co, said in a research note, referring to the U.S. Federal Aviation Administration.

Still, von Rumohr and other analysts said the accident should not pose a long-term risk to a stock that has delivered the richest total return among the 30 stocks in the Dow over the 10 years of the current bull market. Since U.S. stocks began rebounding from the financial crisis in March 2009, Boeing shares have delivered a total return, including reinvested dividends, of nearly 1,600 percent, four times the performance of the full index.

Indeed, many investors saw the initial drop in Boeing stock as an opportunity to pick up the shares at a sudden discount. After dropping by as much as 13.5 percent in the first 10 minutes of trading on Monday morning, by late morning they had recouped roughly half the loss and were down just 6.7 percent.

For a graphic on Boeing shares crushed after Ethiopia jet crash, see - tmsnrt.rs/2Ca96E7

Spreads on Boeing’s bonds, a measure of the added compensation investors demand for owning its debt, were also wider, data from Refinitiv showed. Its credit default swaps, a form of insurance against a Boeing default, rose sharply in price, according to IHS Markit. The company has about $13.8 billion of bonds issued.

Boeing said on Monday the investigation into the Ethiopian Airlines crash is in its early stages and there was no need to issue new guidance to operators of its 737 MAX 8 aircraft based on the information it has so far.

Wall Street has been overwhelmingly bullish on Boeing - 19 of the 24 brokerages covering the stock rate it “buy” or higher, while five have a “hold” rating. No brokerage has had a sell rating on the stock since July 2017.

Even with Monday’s drop, it remained the Dow’s best performer so far this year with a gain of 21.6 percent compared with 9.45 percent for the full index.

Morgan Stanley analyst Rajeev Lalwani said there would be concerns about safety, production, groundings and costs, but that those should all be manageable longer-term.

He said he was not changing the bank’s positive “overweight” recommendation on Boeing shares, and that any corrective action the company has to take on its best-selling passenger plane will likely prove a longer-term buying opportunity.

Investigators have found the black box from the fatal crash with both the cockpit voice recorder and digital flight data, Ethiopian state TV reported on Monday, which should shed light on the cause of the crash.

Earlier in the day, China’s aviation regulator grounded nearly 100 Boeing 737 MAX 8 aircraft operated by its airlines after the crash.

Boeing’s shares lost 12 percent in the weeks following the Lion Air crash last year, but have more than recouped those declines.

Shares of Dallas-based Southwest Airlines Co - the biggest operator of the MAX 8 - fell 1.3 percent, while American Airlines Group Inc, which has 24 MAX 8 jets, was up 0.4 percent.

Southwest and American said overnight they remained fully confident in the aircraft and were closely monitoring the investigation.

Shares of Boeing’s European rival Airbus SE were up 1.3 percent in Paris.

Boeing delivered 806 aircraft last year, missing its target by four jets, but still retaining the title of the world’s biggest planemaker for the seventh straight year. European rival Airbus delivered 800 planes in 2018.

The 737 MAX 8 uses LEAP-1B engines made by CFM International, a joint venture of General Electric Co and Safran SA. Shares in Safran fell 1.7 percent on Monday. </s> NEW YORK (AFP) - Boeing reported its biggest loss ever on Wednesday (July 24) as the 737 Max crisis drags on, and the company warned it could be forced to temporarily halt production of the plane if the grounding is extended much longer.

The aviation giant's troubles have been mounting since the Max was taken out of service worldwide in March following two deadly crashes that claimed 346 lives, and it already set aside nearly US$5 billion to compensate customers.

But the warning it might have to suspend production of the aircraft jolted Wall Street, prompting losses to accelerate during a late-morning conference call with Boeing executives that reinforced the cloudiness surrounding the outlook.

Getting the Max back in the air is a "complex" multi-regulator process "that will take time to get done," Boeing chief executive Dennis Muilenburg said.

"We have a clear understanding of the work that has to be done but there is still uncertainty in the timeline."

Boeing reported a loss of US$2.9 billion for the second quarter, a huge drop from the US$2.2 billion profit posted in the same period of last year.

The loss was not surprising following last week's announcement the company had set aside US$4.9 billion after taxes to compensate airlines for canceled flights and the delay in plane deliveries.

Meanwhile, revenues in the latest quarter tumbled 35.1 per cent to US$15.8 billion, reflecting the hit suffered due to halted deliveries of the 737 Max, a top-selling plane.

Analysts from Cowen, an investment bank, pointed to a "strong performance" in production of Boeing's 787, another big seller, but noted the company pushed back first flight of the 777X, a new long-haul plane under development.

The company has blamed the delay on problems with the engine, which is being built by General Electric.

Adding to the confused outlook, Boeing has still not updated its full-year profit forecast after withdrawing its targets in April due to uncertainty about the Max.

However, at the same time it boosted dividend payments in the second quarter. Compared with last year, Boeing spent US$1.2 billion on dividends, up 20 percent from the year-ago period.

Temporarily halting output "is not something we want to do but it is an alternative we have to prepare for as a smart part of our thorough and disciplined process here to make sure we're covering all scenarios," Muilenburg said.

Boeing in April cut production on the Max to 42 a month from 52, storing planes until the jet is cleared to fly. But it has not cut jobs at its Washington state factory.

The crisis already has rippled through the US economy, hitting manufacturing output as well as exports, which widens the politically-sensitive trade deficit and could drag on growth.

Treasury Secretary Steven Mnuchin said Wednesday the Max is a priority for the White House.

"We want to absolutely make sure that before the 737 Max flies that it's safe," Mnuchin told CNBC. "We need to figure out how they continue to compete against Airbus because they are a leading US company."

Airlines have repeatedly pushed back the target date for returning the jets to service as the regulatory timeframe has dragged on.

The Federal Aviation Administration in June identified problems with microprocessor which extended the timeline.

Boeing is developing a software fix to address a problem the "MCAS" flight handling system linked to both crashes.

Muilenburg said the company is in daily contact with the FAA and still expects to submit its software fix to regulators in September, with approval about a month later. However, that timeframe is "dynamic."

He also said the company also is in "the middle of working our way" through the FAA microprocessor issue.

"We know we're making progress," he said. "But until we complete all of the certification activities, there's always some risk of new items opening up."

Boeing shares have lost about 14 per cent since the Ethiopian Airlines crash in March, while the broader S&P 500 has gained about 10 per cent. </s> Boeing Chief Executive Officer Dennis Muilenburg faces his biggest crisis yet following the second deadly crash of a 737 Max jetliner, as some airlines grounded the best-selling plane and the shares logged their biggest loss since the 9/11 attacks.

China ordered its carriers to ground all 96 of Boeing’s newest 737 model, while Indonesia said it would also halt flights after Ethiopian Airlines Flight 302 went down in a field shortly after takeoff Sunday, killing all 157 people on board. While the flight recorders have now been recovered and must be analyzed, the disaster bore similarities to the doomed Lion Air 737 Max that crashed in October.

The 737 Max is Boeing’s most important aircraft type, generating almost one-third of the company’s operating profit and forming the backbone of many global airline fleets who use the model and Airbus’s competing A320 family on shorter routes.

Boeing sank 11 percent to $374.31 at 9:37 a.m. in New York after sliding as much as 13 percent for the biggest intraday decline since Sept. 17, 2001, the first day of trading after the 9/11 attacks.

“Boeing has lost control of the timetable to provide the safe, reliable solution,” said Neil Hansford, chairman of the Australian consultancy firm Strategic Aviation Solutions. “The longer it goes, the more chance Boeing has of losing orders.”

The grounding in China, followed by the Indonesian air safety regulator’s order to halt 737 Max flights from Tuesday, raises the specter of other countries following suit. South Korea began a special inspection of the aircraft, while in Europe, regulators said they’re in contact with their U.S. counterparts as well as Boeing, but that it’s too soon to take action.

While the groundings in China and elsewhere are important, most nations typically wait to act until the U.S. and Europe issue findings on aviation matters. The Federal Aviation Administration and the European Union Aviation Safety Agency oversee the world’s largest aircraft manufacturers and take the lead in ensuring the safety of their planes.

U.S. carriers such as Southwest Airlines Co., American Airlines Group Inc. and United Continental Holdings Inc. are still flying the 737 Max.

Investigators have recovered the cockpit voice and flight-data recorders, Ethiopian Airlines said Monday, a significant step forward in piecing together what happened.

Chinese airlines accounted for about 20 percent of 737 Max deliveries worldwide through January, and further purchases of the Chicago-based planemaker’s aircraft are said to have been touted as a possible component of a trade deal with the U.S.

China Southern Airlines Co. has 16 of the aircraft, with another 34 on order, according to data through January on Boeing’s website. China Eastern Airlines Corp. has 13, while Air China Ltd. has 14, Boeing says. Other Chinese airlines that have bought the Max include Hainan Airlines Holdings Co. and Shandong Airlines Co., the data show.

Lion Air, which is based in Indonesia, is one of the biggest customers, having ordered 201 Max planes and taken delivery of 14.

The single-aisle 737 Max is poised to generate about $30 billion in annual revenue as factory output rises to a 57-jet monthly pace this year, according to Bloomberg Intelligence estimates.

The disaster in Ethiopia followed the crash of Lion Air’s 737 Max off the coast of Indonesia on Oct. 29. A preliminary report into that flight indicated that pilots struggled to maintain control following an equipment malfunction. The U.S. Federal Aviation Administration is working with Boeing on a possible software change to reduce the chances that such a failure could cause an accident in the future.

Boeing responded to the earlier crash by advising pilots that the Max’s so-called angle-of-attack sensor can provide false readings, causing the plane’s computers to erroneously detect a mid-flight stall in airflow. That in turn can cause the aircraft to abruptly dive to regain the speed the computer has calculated it needs to keep flying. Pilots could counteract the sudden downward tilt by following a checklist in their training manual, the planemaker said.

The doomed Ethiopian jetliner left Addis Ababa at 8:38 a.m. local time, and contact was lost six minutes later, the company said in a statement. There were people from 35 nations on board, including 32 Kenyans, 18 Canadians, nine Ethiopians and eight Americans. The United Nations, which is hosting an environmental conference this week in Nairobi, said it lost 19 staff members in the crash.

The pilot of the ET302 reported problems shortly after takeoff and was cleared to return to the airport, said the airline’s chief executive officer, Tewolde GebreMariam. The 737 Max 8 hadn’t had any apparent mechanical issues on an earlier flight from Johannesburg, he said.

Ethiopian Airlines had five of the planes in operation as of the end of January and orders for a further 25, according to Boeing’s website. Boeing has dispatched a technical team to assist the investigation into the Ethiopian Airlines plane, which was delivered new in November to Africa’s biggest carrier, while the FAA, which originally certified the 737 Max and U.S. National Transportation Safety Board have also joined the probe.

Jet Airways India Ltd. and SpiceJet Ltd., two Indian airlines that use the 737 Max jet, and the country’s regulators have asked Boeing for information following the Ethiopia crash.

Southwest Airlines says it’s “confident in the safety of our fleet” including its 34 737 Max 8 planes American Airlines Will closely monitor the investigation via Boeing and NTSB Singapore Airlines Monitoring the situation; the 737 Max 8 flights operated by SilkAir are flying as scheduled Icelandair Says it’s had no issues with its three 737 Max 8s Korean Air Due to receive its first Max in April, is monitoring the situation Cayman Airways Grounds both its Boeing 737 Max 8 aircraft Thailand Says it currently has no plans to ground Boeing 737 Max jets China Grounds entire fleet of Boeing 737 Max 8 jets. China Eastern to talk with Boeing about losses caused by grounding. Flydubai Says it’s monitoring situation and in touch with BoeingA U.S.-ordered grounding of an entire model of aircraft is extremely rare and in the past has typically not occurred so soon during an investigation when few details are known. The last time the agency did so was in January 2013 as a result of overheating lithium-ion batteries on Boeing’s 787 model. The agency only acted after the second such incident occurred.

Muilenburg, 55, was running Boeing’s defense business during the Dreamliner’s grounding. Since he took the reins as CEO in July 2015, Boeing has dramatically expanded cash flow and the shares have tripled. That has boosted the company’s market value by $140 billion and made Boeing the biggest U.S. industrial company. </s> Washington D.C.: Boeing on Wednesday (local time) said that it was considering the possibility of halting the production of 737 Max if the grounding of the aircraft continues further. Boeing has continued to build the 737 Max, its bestselling jet, although at a slower pace. The plane has been grounded since mid-March because of two fatal crashes that killed more than 300 people.

Boeing hopes to get approval for the plane to fly again sometime early in the fourth quarter. CEO Dennis Muilenburg was quoted as saying by CNN that any further delays in approval to fly the 737 Max again could jeopardize its production. A further slowdown or temporary shutdown of 737 Max production is “not something we want to do, but an alternative that we have to prepare for,” Muilenburg told investors on a conference call.

He added that the company needs to prepare for that “to make sure we’ve covered all scenarios.” It is unclear when the 737 Max will be allowed to return to service. Boeing is working on a software fix to a safety system which is believed to have caused the two crashes.

 But it says it won’t be able to present that fix to aviation authorities until September at the earliest, and it hopes to have a certification flight in October.

Because of the grounding, the company reported its largest loss ever – amounting to USD 3.7 billion in the second quarter. Boeing said any slowdown or halt in production could lead to even more losses. The slower pace of 737 Max production has already increased Boeing’s production costs by about USD 1.7 billion. The company had already warned investors that it would take a USD five billion profit hit from its inability to deliver the 737 Max to its customers. </s> (Reuters) - Boeing Co (BA.N) posted its largest-ever quarterly loss on Wednesday due to the spiraling cost of resolving issues with its 737 MAX, warning it may have to shut production of the grounded jet completely if it runs into new hurdles with global regulators getting its best-selling aircraft back in the air.

Boeing Chief Executive Dennis Muilenburg said he was confident the MAX would be back in service as early as October, but acknowledged for the first time that Boeing may have to slow or completely halt production of the 737 MAX, a step it has not had to resort to on any commercial plane for more than 20 years.

The world’s largest planemaker also reported a fresh delay on its 777X widebody program as General Electric Co (GE.N) engine problems pushed the first flight into 2020.

Boeing is looking to restore customers’ faith in its 737 MAX and to satisfy the requirements of regulators by reprogramming the software pinpointed as a common factor in two deadly crashes in the span of five months.

“This is a defining moment for Boeing,” Muilenburg told analysts. He said Boeing has held weekly technical calls and a number of conferences with MAX operators around the world and nearly 225 sessions in flight simulators testing its software.

Muilenburg’s comments came after the company posted its largest-ever quarterly loss, diving nearly $3 billion into the red while burning $1.01 billion in cash in the quarter.

Investors shrugged off the large loss after Boeing announced heavy charges last week, bringing the total cost so far of the 737 MAX crisis to more than $8 billion, mainly due to compensation the planemaker will have to pay airlines for the delayed deliveries and lower production.

Boeing’s shares dipped only slightly after second-quarter results were announced, but slipped 3 percent after Muilenburg’s comments on the possibility of lowering production further, or stopping it temporarily.

Chicago-based Boeing has been unable to deliver any 737 MAX aircraft since the single-aisle plane was grounded worldwide in March after two fatal crashes in Indonesia and Ethiopia killed 346 people.

Click here to view an interactive graphic: tmsnrt.rs/2MaWqTt.

Muilenburg said the company would consider further 737 output cuts below the current rate of 42 aircraft per month, or potentially suspending production if warranted - a step Boeing has not taken since 1997 when it halted 747 production and delayed introduction of a new 737 so suppliers could catch up.

Boeing reduced the number of single-aisle aircraft it produces monthly in the Seattle area to 42 from 52 after the second crash in Ethiopia while suspending deliveries to airlines, cutting off a key source of cash and hitting margins.

The lower rate means Boeing has to pay more for parts, which are priced according to the volume Boeing buys. Boeing said it was working toward building 57 of the 737s a month in 2020.

Boeing also faces issues with other planes. It said its first flight of the 777X - the latest iteration of its popular long-range twin-aisle aircraft - is now delayed until early 2020 due to the engine problems announced last month, while its current plan for a first delivery to customers in late 2020 faced significant risk.

The 777-9, the larger of two new jets in the 777 family, was initially scheduled for first flight in the fourth quarter of 2018 with delivery to the first customer in the second quarter of 2020, according to a Boeing certification plan seen by Reuters.

Boeing would have to sell more 777 freighters to avoid a slowdown in output caused by 777X delays, but Muilenburg pointed to what he called “strong demand signals” despite global trade tensions.

The grounding of the 737 MAX has sent shockwaves through the industry and also pushed back the launch of a new Boeing aircraft, a twin-aisle jet for the middle of the market.

That jetliner, known as NMA, is not just a crucial piece in Boeing’s fight with archrival Airbus (AIR.PA) in the lucrative longer-haul market but also lays foundations for the eventual development of a 737 replacement, industry sources have said.

Muilenburg said the company is making progress on building the business case for NMA, but getting the MAX flying commercially remains its “top priority.”

“We’re not going to run to any artificial timeline,” Muilenburg said, referring to a decision whether to launch the aircraft.

Boeing said free cash flow fell to a negative $1.01 billion in the quarter, the first full quarter of operations since the MAX was banned commercially, though that was narrower than the negative $2.09 billion analysts had expected, according to IBES data from Refinitiv.

Boeing Chief Financial Officer Greg Smith told analysts the 737 MAX compensation to airlines could hurt cash flow in 2019 and beyond, and said Boeing will continue to “diligently review all levers available” to minimize the financial impact.

Industry sources say the company has already embarked on cost cuts across the board.

Vertical Research Partners analyst Robert Stallard said in a note, however, that Boeing’s results “could have been worse.”

“Although the headline numbers for 2Q look pretty grim, they are not as bad as we had been forecasting,” he said.

The company said it would issue a new 2019 outlook at a future date. It suspended giving any 2019 guidance in April.

Boeing’s net loss for the second quarter was $2.94 billion, compared with a profit of $2.20 billion, a year earlier.

Sales slipped 35% to $15.75 billion and also came in below the average estimate of $18.55 billion, according to Refinitiv data.

Global airlines have had to cancel thousands of flights and use spare aircraft to cover routes that were previously flown with the fuel-efficient MAX, eating into their profitability. </s> The company lost $2.9bn in the three months to the end of June, compared to a profit of $2.2bn for the same period last year

Boeing said it could halt production of the 737 Max jet on Wednesday as it reported the company’s largest ever quarterly loss following two fatal accidents involving the plane.

The company lost $2.9bn in the three months to the end of June, compared to a profit of $2.2bn for the same period last year. Sales fell 35% to $15.8bn. Chief executive Dennis Muilenburg said production of the plane could be slowed or halted if regulators do not move to lift the ban on the plane.

The 737 Max was Boeing’s best selling aircraft until the fleet was grounded worldwide in March following crashes in Indonesia and Ethiopia. In January Boeing’s executives said the Max was the fastest selling plane in its history and the company expected to deliver between 895 and 905 airplanes this year.

Now it has become the most costly plane in Boeing’s history.

Boeing has predicted that the Max will be flying again by the end of the year, but this month the Wall Street Journal reported that government and industry officials believe a return date of January 2020 is more likely.

On a call with analysts Muilenburg said the company may have to consider slowing or halting production if there are further delays in getting the plane back into the skies.

Boeing is still producing 42 of its 737 jets a month and plans to boost that rate to 57 next year. But if there are further setbacks, Muilenberg said: “We might need to consider possible further rate reductions or other options including a temporary shutdown of the Max production.”

Muilenberg added that Boeing expected to submit its “final certification package” to the Federal Aviation Administration, the US regulator, in September.

Last week Boeing said it would take a $5.6bn charge to cover potential compensation to customers. The company also expects the cost of manufacturing the 737 to rise by $2.7bn due to production slowdowns. A $100m fund is being established to compensate the families and communities affected by the crashes.

“This is a defining moment for Boeing and we remain focused on our enduring values of safety, quality, and integrity in all that we do, as we work to safely return the 737 Max to service,” Muilenburg, said in a statement.

“During these challenging times, teams across our enterprise continue to perform at a high level while delivering on commitments and capturing new opportunities driven by strong, long-term fundamentals.”

Regulators across the world continue to investigate the fatal crashes of a Lion Air Max in Indonesia and an Ethiopian Airlines flight in Ethiopia that claimed a total of 346 lives.

Investigations have centered on the plane’s Manoeuvring Characteristics Augmentation System (MCAS) flight control software, which was designed to keep the aircraft stable in flight. In both crashes the pilots appear to have fought in vain to keep the plane’s nose up as the system, triggered by flawed sensor readings, dragged it down. Boeing executives subsequently tried to share some of the blame with the pilots.

Last week a father who lost five family members in the Ethiopian disaster accused the company of “utter prejudice and disrespect” and said Boeing had pursued higher a higher share price and profits “at the expense of the safety of human life”.

The grounding of the 737 Max has had wider consequences for the US aerospace industry. American Airlines, Southwest Airlines and United Airlines all used the Max and have canceled flights into November as a result of the grounding, depressing revenues. Ryanair, another major customer and Europe’s largest short-haul airline, has said late deliveries of the 737 Max will force it to cut routes and shut bases as it curbs expansion plans. </s> Boeing is warning that it might have to halt production of the 737 Max if grounding continues much longer.

The company reported its largest-ever quarterly loss of three billion dollars on Wednesday because of the troubled aeroplane.

If hurdles with regulators worldwide continue, Boeing said it would consider reducing or shutting down production of the 737 Max entirely.

However, Boeing boss Dennis Muilenburg is confident the plane will be back in the air by October. </s> NEW YORK (AP) — U.S. stocks moved broadly higher in midday trading on Wall Street Monday, led by a rally in technology shares. The gain for the Dow Jones Industrial Average was held back by a sharp decline in Boeing.

Stocks are coming off their worst week since December. Still, the major indexes are enjoying gains of 9 percent or more for the year so far.

Technology stocks powered the market's early gains. Apple rose 3.4 percent after an analyst upgrade while Nvidia gained 5.2 percent after agreeing to buy chipmaker Mellanox. Social media stocks also rose, with Facebook up 1.7 percent and Twitter up 2.8 percent.

Stocks also got a boost from a government report that showed a slight increase in retail sales for January that beat forecasts after a steep decline in December.

Boeing's stock fell 7 percent at midday following the second deadly crash involving the newest version of the aircraft maker's popular 737. Despite Boeing's decline, the industrial sector managed to eke out a small gain.

The week opened with investors still waiting for more details on any potential trade deal between the U.S. and China. Costly tariffs have hurt both nations and investors hope a deal can be struck to at least take some pressure off the global economy, which has shown signs of cooling off.

KEEPING SCORE: The Dow Jones Industrial Average rose 80 points, or 0.3 percent, to 25,530 as of 12:20 p.m. The S&P 500 rose 1.2 percent and the Nasdaq composite rose 1.7 percent.

BOEING FALLS: The airplane maker is facing fallout from a second deadly crash involving its important 737 Max 8. The 737 is its most popular plane and the Max is its newest version.

Boeing's stock has been soaring since the beginning of the year, but plunged Monday after the crash of an Ethiopian Airlines jetliner that killed 157 people. Back in October, another 737 Max 8 crashed in Indonesia, killing 189 people.

Authorities in Ethiopia, China and Indonesia have grounded all Boeing 737 Max 8 aircraft.

BANKING MERGER?: Deutsche Bank rose 4.7 percent following reports that it agreed to hold merger talks with rival Commerzbank.

CHIPS ON THE TABLE: Nvidia rose 5.4 percent after the chipmaker said it will buy network transmission company Mellanox for $6.9 billion in cash.

The companies are frequent collaborators and said that together they help to power more than 250 of the world's 500 supercomputers, including Sierra and Summit, operated by the U.S. Department of Energy. </s> Boeing likely to face new questions after another 737 crash

Boeing's newest version of its most popular plane is again in the spotlight after a deadly accident in Ethiopia.

A Boeing 737 Max 8 operated by Ethiopian Airlines crashed shortly after taking off Sunday from Addis Ababa, killing all 157 people on board.

The plane was new. The weather was clear. Yet something was wrong, and the pilots tried to return to the airport. They never made it.

Those circumstances make the accident eerily similar to an October crash in Indonesia that killed all 189 people on the plane.

Safety experts are noticing the similarities but say a verdict on the plane should wait until investigations are complete.

Boeing says its plane is safe. The company's sales didn't suffer after the Indonesia crash, and its stock price has soared.
Shares of Boeing lose roughly 9 percent after one of its best-selling planes, the Boeing 737 MAX jet, saw its second deadly crash in less than five months.