Airlines ground planes over Ethiopia crash as Boeing shares tumble
- Black boxes recovered
- No plan to stop order-Air Peace
- Pilot had 8, 000 flying hours
Several countries grounded their fleets of Boeing’s latest 737 model, in the wake of Sunday’s Ethiopian Airlines crash, while the plane-maker’s stock plunged almost 12 per cent in early trading – its biggest drop since September 2001.
The move, if maintained through normal trading hours, would be the biggest fall in Boeing’s stock in nearly two decades, halting a surge that has seen it triple in value in just over three years to a record high of $446 last week.
The crisis has led to a huge setback for the plane maker following delayed plans to unveil its huge new 777X jetliner this week following the deadly crash of one of the company’s aircraft in Ethiopia.
Amid the newest crisis surrounding the aviation industry, investigators have started to piece together the final moments of the doomed flight, after the plane’s flight data recorder and cockpit voice recorder commonly referred to as the black boxes were recovered on Monday.
Analysis of the recorders that contain critical information will reveal why the Boeing 737 Max 8 crashed, killing all 157 people on board and perhaps more important, whether similar factors led to the crash of the same aircraft type operated by Lion Air last October.
Boeing has already accepted orders for more than 5,000 of the new, high fuel economy planes, which entered se service less than two years ago and are set to be the workhorses for airlines around the globe for decades.
The disaster came just months after a jet of the same model came down in Indonesia killing 189 people, and prompted a global aviation safety scare.
The Ethiopian Airlines 737 Max 8 plunged into farmland minute after take-off from Addis Ababa for Nairobi on Sunday.
China, Indonesia, and Ethiopia grounded all Boeing 737 MAX 8 airplanes after that model crashed on Sunday on its way to Nairobi.
Ethiopian Airlines grounded its fleet the day Flight ET 302 which was bound for Nairobi went down soon after it left Addis Ababa airport in Ethiopia at 8.38am local time.
Royal Air Maroc halted the commercial use of its sole operational Boeing 737 Max 8, pending tests and examinations of the airplane after the Ethiopian Airlines crash.
Air Maroc received a second Boeing 737 Max 8 airplane a few days ago, part of a deal with Boeing for acquiring a total of four.
Cayman Airways, the main carrier of the Cayman Islands, has also stopped flying its B-737 Max 8 jets. South Korea has begun a special inspection of the aircraft.
Of the 378 B-737 MAX 8 aircraft flying around the world today, about 100 belong to Chinese carriers and 20 to airlines based in South-east Asia.
US carrier Southwest Airlines has the largest fleet of B-737 MAX 8 planes, followed by Europe’s Ryanair.
By the end of January this year, Boeing had delivered 350 of the new jets to customers, with another 4,661 on order.
In a related development, Chairman, Air Peace, Mr. Allen Onyema said his airline was monitoring situation as regards investigation into B737MAX 8 aircraft type belonging to Ethiopian Airlines that crashed in Bishoftu, killing 157 including eight crew members.
Onyema who spoke to Woleshadarenews on telephone said it will be premature to cancel its ten orders for ten of the aircraft type it ordered late last year, saying no one could say exactly what caused the accident which he said could be human error, crew training or even the equipment.
His words, “We have not taken delivery of our own order yet. Boeing is capable of arresting the issue. We have not withdrawn our order. Nobody is certain for now if it is pilot error, faulty equipment, training error. When eventually, they come out with their findings, I am sure Boeing will rectify that”.
In a separate statement by the airline, spokesman for Air Peace, Mr. Chris Iwarah said the management of the carrier thought it imperative to clarify that Air Peace recently placed a firm order for 10 brand new Boeing 737 MAX 8 aircraft.
“We are, however, yet to take delivery of the aircraft as we are still at the design and configuration stage of the order”.
This clarification, according to him has become necessary in view of numerous calls and enquiries on our response to the incidents involving the B737 Max 8 aircraft.
“Although it is premature to comment on the incidents, we wish to assure members of the flying public that we are closely following and monitoring developments on the issue as an airline that prioritises the safety and well-being of our customers”.
“While we keep engaging with our partners in this regard, we repose implicit confidence in Boeing and aviation authorities to capably and satisfactorily address all the issues if at the conclusion of ongoing investigations it is discovered that the challenge is with the B737 Max 8”, he added..
Air Peace in September 2018 signed an agreement with Boeing for the acquisition of 10 brand new 737 MAX 8 aircraft, making history as the first airline in West Africa to add the equipment to its fleet.
The airline’s insistence in going with its order is coming as China and Indonesia yesterday grounded their fleets of Boeing’s 737 MAX 8 aircraft as witnesses recalled the terrifying spectacle of smoke and debris trailing from an Ethiopian Airline plane before it crashed killing 157 people.
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