NTSB: Amazon Cargo Plane Touched Down 3,750 Feet Into Miami Runway
AMZN sits 28% above its 52-week low of $196.
Summary
The NTSB's preliminary report on the September Miami runway overrun reveals the Amazon Air 767 touched down 3,750 feet beyond the threshold at 185 mph, crossing at over 200 mph and 105 feet altitude. The captain ignored the first officer's repeated speed warnings, and speed brakes and thrust reversers were not used. ATC also failed to provide required wind information, with a 20 mph tailwind gusting to 30 mph. Five people died and three were seriously injured. Amazon Air has suspended operations with 21Air, the operator. This is the first detailed account of the accident, adding operational and regulatory risk for Amazon's air cargo network.
At the time of this announcement, AMZN was trading at $251.12 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $2.7T. The 52-week trading range was $196.00 to $287.20. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: dpa-AFX.