UPS plane crash also downs share values

By Marc Castro

Aug 16, 2013 12:33 PM EDT

The wreckage of the UPS cargo plane thst had crashed last Thursday is now in the hands of the National Transportation and Safety Board. The investigators would be combing through the remains of the plane to find clues for the reason the plane fell to eart killing its two pilots.

One of the major issues confronted by the investigating team was the heat still being generated by the tail section of the downed plane. NTSB spokesperson Eric Weiss said the top priority for the team would be the recovery of the flight recorders from the aircraft of UPS.

The cargo plane was an Airbus A300 and before it hit the ground, witnesses said it had clipped the treeline and mowed down a house before settling in an empty field 200 yards from the Birmingham-Shuttlesworth International Airport. Early reports indicate that the pilots did not issue any distress calls or emergency advisories before the crash occurred.

As news of the crash was reported, UPS share values plunged from US$87.44 on midday trading on August 14 to US$85.74 the next day. This was the lowest pegged price for UPS share prices as a result of the cargo plane crash.

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