Airbus shares rise after latest Boeing 737 MAX blow, Safran down
FILE PHOTO: The Airbus logo is pictured at Airbus headquarters in Blagnac near Toulouse, France, March 20, 2019. REUTERS/Regis Duvignau
PARIS (Reuters) – Shares in European aerospace group Airbus rose on Tuesday, after archrival Boeing said it would suspend production of its best-selling 737 MAX jetliner in January.
Airbus shares were up 1.6% in early trading while those in French aerospace company Safran, a supplier to Boeing, were down 2.1%.
On Monday, Boeing said it would suspend production of its best-selling 737 MAX jetliner in January, as the fallout from two fatal crashes of the grounded aircraft drags on into 2020.
Reporting by Sudip Kar-Gupta; editing by Jason Neely