Boeing plunges on MAX tragedy Share price falls after China, Indonesia and Ethiopia ground 737-8 fleet
We are monitoring the situation and continue to be in touch with Boeing. We remain confident in the airworthiness of our fleet
A flydubai spokesperson
new york — Shares of Boeing Co on Monday slid up to 13 per cent before recouping some ground after China, Indonesia and Ethiopia ordered airlines to ground their Boeing 737 MAX 8 planes following the second deadly crash involving the jet in just five months.
A Nairobi-bound Boeing 737 MAX 8 operated by Ethiopian Airlines crashed minutes after take-off from Addis Ababa on Sunday, killing all 157 on board. The same model, flown by Lion Air, crashed off the coast of Indonesia in October, killing all 189 on board.
Boeing said on Monday the investigation into the Ethiopian Airlines crash is in its early stages and there was no need to issue new guidance to operators of its 737 MAX 8 aircraft based on the information it has so far.
Investigators have found the black box from the fatal crash with both the cockpit voice recorder and digital flight data, Ethiopian state TV reported, which should shed light on the cause of the crash.
Earlier in the day, China’s aviation regulator grounded nearly 100 Boeing 737 MAX 8 aircraft operated by its airlines after the crash.
Ethiopia Airlines said it had grounded its fleet of six remaining Boeing 737 MAX 8 planes pending analysis of the black box data.
Indonesia, which has 11 of the MAX 8 model planes, said it would “carry out inspections and temporarily prohibit Boeing 737 Max 8 from flying”. South Korea ordered an inspection of two MAX 8 planes flown by low-cost Eastar Jet. Some other airlines said they were not cancelling MAX 8 flights, including Oman Air, flydubai, Turkish Airlines and Russia’s S7. A flydubai spokeswoman said the carrier remains confident in the airworthiness of its Boeing 737 planes. —