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Boeing Stock Falls Again after It Halts 737 MAX Deliveries

16 March 2019

The decision comes after Boeing 737 MAX planes were grounded and banned from the airspace of the majority of the world's countries, including the United States.

The two black boxes will be analyzed for potential clues into the fatal incident, the second crash involving a new Boeing 737 Max 8 aircraft in less than six months.

There have been heightened concerns following Sunday's crash of the Ethiopian Airlines' Boeing 737 Max 8 aircraft which resulted in deaths of 157 people.

The crash site of the Ethiopian Airlines
RetuersThe crash site of the Ethiopian Airlines plane

USA aircraft industry company Boeing continues to manufacture aircraft of the 737 MAX model despite the decision to suspend their deliveries, a company spokesperson has told TASS by phone.

Federal Aviation Administration chief Daniel Elwell on Wednesday cited unspecified evidence found at the crash scene as part of the justification for the agency to reverse course and temporarily halt flights of Boeing's largest selling aircraft.

Before the cause of the crash is ascertained, companies are wary of extending their contracts with Boeing.

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He said: "According to the air traffic controller's recorded voice exchange, the pilot recorded flight control problems, so he was having difficulties with the flight control of the aeroplane".

The BEA has experience with global air crashes, and its expertise is often sought whenever an Airbus plane crashes because the manufacturer is based in France.

Boeing was working on a safety software update after one of its 737 Max 8 planes crashed in October but the effort was delayed by five weeks due to the partial government shutdown, the Wall Street Journal reported.

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"American Airlines has 24 Max 8's and its pilots' union said in a statement: ".the safety and security of our team members and our customers remains our top priority. Among the major U.S. carriers (IYT), Southwest Airlines (LUV) has placed an order for 280 jets, while American Airlines (AAL) and United Airlines (UAL) have ordered 100 planes each.

"We believe the company has avenues to work around the grounding, including the longer in-service use of older aircraft, possible access to third-party aircraft, the temporary use of different gauge aircraft and if necessary the temporary suspension of some routes", he wrote in a research note.

Boeing earlier assured that this type of aircraft was safe.

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Boeing Stock Falls Again after It Halts 737 MAX Deliveries