International

Donald Trump announces plan to ground all Boeing 737 MAX planes

A Boeing 737 flown by American Airlines passes by the Lockheed Martin building as it takes off from Ronald Reagan Washington National Airport in Arlington, Virginia on on March 11, 2019.

A Boeing 737 flown by American Airlines passes by the Lockheed Martin building as it takes off from Ronald Reagan Washington National Airport in Arlington, Virginia on on March 11, 2019.   | Photo Credit: AFP

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U.S. President Donald Trump on March 13 announced a plan to ground all Boeing 737 MAX aircraft amid intense international and political pressure following the second deadly crash in less than five months.

“We're going to be issuing an emergency order of prohibition regarding all flights of the 737 MAX 8 and 737 MAX 9,” Mr. Trump told reporters at the White House.

Boeing shares fell precipitously on March 13, moments after Mr. Trump’s announcement.

 

Shares had recovered early in the session, but lost 2.8% to $365.24 shortly before 12.30 a.m. IST, putting the stock down 13.6% since before the March 10 crash of an Ethiopia Airlines flight, and wiping billions off the company’s market value.

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Printable version | Jan 26, 2020 5:13:14 PM | https://www.thehindu.com/news/international/donald-trump-announces-plan-to-ground-all-boeing-737-max-planes/article26525818.ece

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