Shares in Boeing Co (NYSE:BA) headed sharply lower in pre-market trading on Monday after one of the company's 737 planes crashed in southern China.
“On March 21, 2022, a Boeing 737 of China Eastern Airlines lost contact over Wuzhou during the Kunming-Guangzhou flight. The plane has now been confirmed to have crashed,” the Civil Aviation Administration of China said in a statement.
There were 132 people on board, including 123 passengers and nine crew members, the agency said.
While it was not clear which sub-variant of 737 was involved in the accident, Bloomberg reported that the crash did not involve a Boeing 737 MAX, the model that had been involved in previous crashes in Indonesia and Ethiopia in 2018 and 2019, as these models have not returned to commercial service in the country.
Boeing shares were down 8.4% to US$176.70 in pre-market trading.