The share price of China Eastern Airlines Ord Shs A dropped 6.68% to CNY5.31 a piece this morning after the report of its flight MU5735 crashed yesterday late afternoon. The plane was a Boeing 737-800 in which the share price of The Boeing Company closed 3.59% lower at $185.90 per share. The share price of Boeing dropped as much as 6.33% intraday.
The Chinese President Xi Jinping has called for all-out immediate efforts to find survivors on the crash site. The flight was en route from Kunming to Guangzhou, scheduled to land at 3.05 p.m. yesterday, but lost contact while flying over Wuzhou City, Guangxi region. The crash site was reportedly at Mozong Village, Teng County, Wuzhou City.
There are no reports of casualties as of now, but the state media said that the fire has been extinguished.
China Eastern Airlines has grounded all Boeing 737-800.
