Boeing 737 Max Crisis of 2018–2019: A Content Analysis

Abstract. This exploratory study seeks to critically analyze the Boeing 737 MAX crisis of 2018–2019. The study uses Situational Crisis Communication Theory (SCCT) and Image Restoration Theory to frame Boeing's strategic response. Using content analysis methods, the study identifies the evolution of public perception of the crisis and the evolving media narrative during the crisis timeframe. The study focuses on the relationship between Boeing's crisis response and stock valuation. It suggests that Boeing's initial denial, followed by the delayed acknowledgment of responsibility—all framed through SCCT and Image Restoration Theory—significantly impacted the company's market valuation compared to its primary competitor, Airbus. The study underscores that crisis communication is a complex endeavor, highlighting the importance of timely and transparent communications to restore public confidence in the case of high-stakes crises.

Keywords: Boeing 737 MAX, Crisis Communication, Situational Crisis Communication Theory, Image Restoration Theory, Media Analysis, Stock Valuation