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Boeing stock dives after fire on 787 owned by Ethiopian Airlines

Shares of Boeing are sinking after a fire aboard an empty 787 airplane flown by Ethiopian Airlines at Heathrow Airport.
Shares of Boeing are sinking after a fire aboard an empty 787 airplane flown by Ethiopian Airlines at Heathrow Airport. AP Photo/Itsuo Inouye

NEW YORK – Shares of Boeing are sinking after a fire aboard an empty 787 airplane flown by Ethiopian Airlines at Heathrow Airport.

British police said the fire is being treated as unexplained.

Read more: Fire hits parked Dreamliner at UK’s Heathrow Airport

The entire fleet of 787s was grounded in January for problems involving the plane’s lithium-ion batteries. One caught fire at Boston’s Logan airport.

The planes resumed flying in May after Boeing made redesigns to the battery system that were approved by global aviation regulators. Ethiopian was the first airline to resume using the 787.

Read more: Regulators followed Boeing’s lead on safety testing of 787′s problematic battery system

Boeing shares fell $7.20, or 6.7 per cent, to $99.68, around midday in New York.

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Boeing spokesman Marc Birtel said in an email to The Associated Press that the company has personnel at looking into the event at Heathrow.