Boeing's share price plunged 11 per cent on Monday, likely to be its biggest daily fall in nearly two decades, as more nations grounded all 737 Max 8s.
The Ethiopian Airlines 737 Max 8 plunged into a field minutes after take-off from Addis Ababa for Nairobi on Sunday."The plane was very close to the ground and it made a turn. We looked and saw papers falling off the plane," Malka Galato, the farmer whose land the plane crashed on, told Reuters."Cows that were grazing in the fields ran in panic ... There was smoke and sparks coming from the back of the plane.
The new MAX 8 variant, with bigger engines designed to use less fuel, entered service in 2017. By the end of January this year, Boeing had delivered 350 of the new jets to customers, with another 4,661 on order. Cayman Airways grounded both of its new 737 MAX 8 jets temporarily too, while India announced a safety review and new instructions later on Monday or Tuesday for local carriers.of Boeing 737 MAX 8s will change. The airline has ordered 30 of the Boeing 737 MAX 8s and 10 Boeing 737 MAX 10s, with the first due to be delivered at the end of the year.
"It is one of the biggest catastrophes we have had in years," said Michael Moller, UN head in Geneva.Ethiopian Airlines said its pilot Yared Getachew, who was a dual Ethiopian-Kenyan national, had a "commendable record" and more than 8,000 hours of flying experience.
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