Boeing grounds 737 Max aircraft worldwide
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Aircraft maker Boeing has grounded its global fleet of its 737 Max aircraft. This is after last week's fatal Ethiopian Airlines crash. Two 737 Max airplanes have crashed in five months. In October, a plane from Indonesia's Lion Air crashed in what aviation experts say are similar circumstances. Investigators have recovered the black boxes in Ethiopia and will study the data in them to find the reason for the disaster. A spokesman from the USA's aviation administration said: "It became clear…that the track of the Ethiopian Airlines flight was very close and behaved very similarly to the Lion Air flight."
Boeing views the 737 Max as a key part of its future. The Max started flying commercially in 2017. Boeing received 5,000 orders for the aircraft and has delivered 371. The grounding has been disastrous for Boeing's finances. Its market value dropped by nearly $26 billion. Boeing president Dennis Muilenburg said: "We are doing everything...to understand the cause of the accidents (in partnership with the investigators), deploy safety enhancements, and help ensure this does not happen again." Boeing said that it "continues to have full confidence in the safety of the 737 Max".
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