Shares of Boeing Co. turned lower in late trading Wednesday after reports the aircraft maker was halting 737 MAX flights due to engine issues. The halt followed the discovery of cracks in a section of the plane’s low-pressure turbine, Aviation Week said in a tweet. Boeing has said it still expects a 737 MAX delivery in May, The Wall Street Journal reported. Boeing completed the first successful first flight of the 737 MAX 9 jetliner, with its distinctive winglet tips, on April 13. The company said then the program was on track, with delivery of the first planes scheduled for next year. Shares of General Electric Co. also dropped on the news, but later recouped some of the losses. GE’s division GE Aviation is part of a joint venture that makes the jetliner’s engine. The S&P 500 Index rose slightly on Wednesday.
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