Simon Ateba covers the White House, the U.S. government, the International Monetary Fund, the World Bank and other financial and international institutions for Today News Africa in Washington D.C. Simon can be reached on email@example.com
The United Kingdom, Ethiopia, China, Malaysia, Singapore and carriers in several Latin American countries have grounded Boeing 737 MAX, citing safety concerns.
The suspensions came after a deadly crash on the horn of Africa on Sunday that bore similarities a previous crash in Indonesia five months ago.
The plane crash in Ethiopia on Sunday killed all the 157 people on board only eight minutes after take off.
In October last year, a Boeing 737 MAX plane crashed in Indonesia only 13 minutes after take off.
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Like in the previous crash involving the model of aicraft which came into use in October 2017, the cause of the air disaster has not been ascertained.
On Monday, Boeing stocks crashed by almost 12 percent with many predicting the company could lose up to $21 billion.
The Wall Street Journal noted that the suspensions of Boeing by several countries around the world “marked an unusual departure for foreign regulators from the guidance of the U.S. Federal Aviation Administration, which vouched for the safety of the plane as investigators probe Sunday’s Ethiopian Airlines crash”.
About 40% of the global 737 MAX fleet has now been idled—most of them MAX 8s, the version involved in the incident, WSJ said.