Aircraft manufacturer Boeing has grounded the entire global fleet its 737 Max aircraft. The move follows last week's fatal Ethiopian Airlines crash. That was the second time five months a 737 Max has crashed. Last October, a plane the Indonesia-based carrier Lion Air crashed what aviation experts are saying are similar circumstances. Investigators have recovered the black boxes the crash site Ethiopia and will study the data in them to ascertain the reason the aircraft falling from the sky. Dan Elwell, a spokesman the USA's Federal Aviation Administration, said: "It became clear…that the track the Ethiopian Airlines flight was very close and behaved very similarly to the Lion Air flight."
Boeing has huge hopes the 737 Max and views it as a key part its future. The Max started flying commercially 2017. Boeing has received 5,000 orders for the aircraft and has delivered 371 to date. News the grounding has been disastrous Boeing's finances. The company's market value has plummeted nearly $26 billion since the crash Ethiopia. Boeing president, chief executive and chairman Dennis Muilenburg said: "We are doing everything we can to understand the cause the accidents (in partnership the investigators), deploy safety enhancements, and help ensure this does not happen again." Boeing said that it "continues to have full confidence the safety the 737 Max".