What we think about the casualties of the Lion Air plane accident off Indonesia where there were ‘likely no survivors’

“We express our concern for those on board, and extend heartfelt sympathies to their families and loved ones,” Boeing said.

The plane is a new model of its best-selling 737, which first debuted in 1967 and is Boeing’s top seller. Boeing introduced the 737 MAX family of aircraft in 2011, using quieter engines and more fuel efficiency than previous models as selling points. That year, Lion Air ordered 230 737s, including 201 737 MAX jets, according to Boeing.

Boeing has delivered more than 200 of the 737 MAX jets worldwide and it plans to increase production of its 737 jets to 57 a month from 52 next year to keep up with strong demand. It has an order backlog of more than 4,600 Boeing 737s, it said on its website.

Shares of Boeing were down 2.3 percent in late-morning trading, the biggest laggard in the Dow Jones Industrial Average, while the broader market rose.

A spokeswoman for engine maker CFM International, a joint venture of General Electric and France’s Safran, said the plane was powered by its CFM LEAP 1B engines and that the company is also ready to assist both the Indonesian and U.S. National Transportation Safety Board.

Lion Air is one of Indonesia’s youngest and fastest-growing airlines, flying to dozens of domestic and international destinations. The airline is a major customer of Boeing. The privately-held airline’s CEO Edward Sirait told reporters that the plane had a technical problem on a previous flight from Denpasar to Jakarta but that it “had been resolved according to procedure,” according to Reuters. He said the airline has 11 aircraft of the same model and that the issue was limited to that one plane.

The incident draws attention to Lion Air’s safety record. The Aviation Safety Network, part of the Flight Safety Foundation, listed 10 incidents or accidents involving Lion Air’s planes since 2002. In 2013, one of its Boeing 737-800 jets missed the runway while landing on the resort island of Bali, crashing into the sea without causing any fatalities among the 108 people on board.

The European Union removed Lion Air from its air safety blacklist in June 2016.

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