Ethiopia Joins China in Grounding Boeing 737 Max Jets After Crash
(Bloomberg) -- Pressure on Boeing Co. escalated after China grounded all flights of the U.S. planemaker’s newest 737 jet, following the second deadly crash of the best-selling narrow-body in five months. The shares fell in early U.S. trading.
A day after Ethiopian Airlines Flight 302 crashed and killed all 157 people on board, Africa’s biggest carrier also decided not to use its 737 Max 8 planes until further notice. China ordered its carriers to ground all 96 of the aircraft by 6 p.m. local time. Elsewhere, Indonesia’s air safety regulator said it’s discussing the possibility of grounding the Boeing planes and South Korea began a special inspection of the aircraft.
For Boeing, the latest disaster soon drew comparisons to a Lion Air crash in Indonesia that killed 189 people, pushing the Chicago-based planemaker a step closer to a crisis. A blanket grounding of the 737 Max, which generates almost one-third of the company’s operating profit, in China also raised the specter of other countries following suit.
“The B737 Max design is dangerously flawed,” said Mohan Ranganathan, a former commercial pilot and an aviation safety consultant based in the southern India city of Chennai. "There is a definite similarity between Lion Air and Ethiopian Airlines Max crashes."
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