After Ethiopia crash horror, nations ground Boeing 737 Max 8, shares sour


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After Ethiopia crash horror, nations ground Boeing 737 Max 8, shares sour

Investigation on Boeing Co.’s crash of one of its 737 Max 8 had found two black box recorders on Monday, the 11th of March 2019, which were expected to piece together the final moments of Sunday’s (March 10th) crash, that killed 157 souls on-board.

Following the crash, the Boeing Co.’s share price dropped as much as 10 percent in US trading hours on Monday (March 11th), almost similar to another 737 Max 8’s crash away from the Indonesian shores, which killed 189 passengers, and whacked 12 percent of market capitalization of Boeing Co.

on last October. After the terrible crash in Ethiopia that took 157 lives on Sunday, Indonesia and China decided to ground their fleets of Boeing Co.’s 737 Max 8 on Monday (March 11th), while other major airlines were still continuing operations.

The Nairobi-bound Ethiopia Airlines 737 Max 8 crashed into the farmlands nearby minutes after take-off from the Addis Ababa on Sunday (March 10th), and the crashed air-vehicle was carrying victims from more than 30 countries, among them 21 were UN staffs.

An Ethiopian farmer on whose land the plane crashed, Malka Galato said, “The plane was very close to the ground and it made a turn. We looked and saw papers falling off the plane.

Cows that were grazing in the fields ran in panic ... There was smoke and sparks coming from the back of the plane”.