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    Trump said it will order the 737Max Boeing stock price in the US to fall more than 3%

    2019-03-14 06:22:58

    Financial sector website 

    US President Trump said that US regulators changed their practices on Wednesday and will stop Boeing’s 737 Max series aircraft because of concerns about the safety of its crash in Ethiopia on Sunday.

    Trump spoke at the White House on Wednesday, announcing that the United States will issue an "emergency order" to ground all 737Max8 and 737Max9 aircraft.

    He added that the FAA and Boeing "have agreed to this decision." Trump said: "The pilot has been notified and all airlines have been notified. The airlines agree."

    Trump said, "The safety of the American people and everyone is our biggest concern. I hope they can find the answer soon, but before they can find the answer, the plane will be grounded."

    Affected by this news, Boeing's share price once hit a low, falling by as much as 3%. Since Ethiopia’s air is hard to come by, the company’s share price has fallen by about 13% and its market value has evaporated by more than $25 billion. At the close of the trading day, the Boeing counter-revolution saw a slight increase of 0.46%.

    Boeing subsequently issued a statement saying that Boeing supported the suspension of 737 MAX operations after consulting with the Federal Aviation Administration (FAA), the National Transportation Safety Board (NTSB) and customers, and decided to recommend to the FAA to suspend 371 Boeing 737s worldwide. The operation of the MAX aircraft. But at the same time, Boeing said it continues to have confidence in the safety of the Boeing 737 MAX aircraft.

    This move is a major blow to Boeing. This week, Boeing lost billions of dollars as one country after another announced its ban on the aircraft. Before the US Federal Aviation Administration took action, Canada decided to suspend the 737 Max series aircraft in its airspace earlier Wednesday.

    Canadian Transport Minister Marc Garneau said in Ottawa on Wednesday that satellite data tracking the flight of the Ethiopian Airlines showed that the crash might be "similar" to the crash of the Lion Air crash on October 29 last year. At that time, the Max 8 that was flying at the time issued a mandatory command to drop the nose several times due to software failure, and then crashed near the Indonesian coastline. All 189 people on board were killed.

    After the crash, the FAA and other aviation regulators around the world took multiple steps to inform pilots how to address the failure of the Mobility Enhancement System (MCAS). However, the FAA said on Monday that as a more formal solution, the redesigned system will not be available until April.

    The Ethiopian Airlines 737 Max 8 aircraft took off at a speed of about 6 minutes near Addis Ababa and crashed into the ground at high speed. All 157 people on board were killed. The investigators have not disclosed any information about the cause of the crash.

    The Max series is Boeing's best-selling model, contributing nearly a third of its operating profit to the company.

    The FAA last requested a full grounding on January 17, 2013, when the Boeing 787 that was grounded at the time had a problem with lithium-ion battery overheating. Prior to this, in 1979, the Douglas DC-10 was grounded.

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    Editor in charge: Zhou Zhuang RF12883

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