Ethiopian Air Crash Puts Spotlight Again On Boeing 737 MAX; China, Indonesia Ground Planes
The accident follows the crash of a Lion Air Boeing 737 MAX 8 in October in Indonesia that claimed 189 lives.
A preliminary report from Indonesian crash investigators suggests that the plane's pilots struggled with an automatic anti-stall system that appears to have engaged due to erroneous readings from an angle of attack sensor, pushing the plane into a dive.
Boeing has faced accusations that it failed to properly inform pilots and airlines of the anti-stall controls, which are new to the 737 MAX.
Boeing has said that pilot manuals already contained instructions on how to override other automatic systems that could push the aircraft’s nose down.
A former pilot explained to MSNBC that in such a situation on takeoff no pilot would be prepared to go through the process for shutting down that automatic system until he was sure that was the real cause of the problem.
And there just would not be time to get sure.
A former NTSB official on MSNBC totally disagrees with the pilot and says it's easy to recognize what's happening and an easy flip of a switch corrects the issue.
Boeing: Airlines ground 737 Max 8 jets after latest crash
Several airlines have grounded Boeing 737 Max 8 jets following a deadly Ethiopian Airlines crash.
The flight crashed minutes after takeoff on Sunday, killing all 157 people on board.
It was the second disaster in five months involving a Boeing 737 Max 8.
Aviation regulators in China and Indonesia have suspended flights using that model. Ethiopian Airlines and Cayman Airways, have also grounded their 737 Max 8 aircraft.
Boeing shares tumbled 13% in early trading on Wall Street.
While experts warn it is too early to say what caused the Ethiopian Airlines disaster, it comes after the same model crashed in a flight operated by Lion Air in October.
The plane lost altitude soon after takeoff, killing 189 people on board.
"Given that two accidents both involved newly delivered Boeing 737 Max 8 planes and happened during take-off phase, they have some degree of similarity," the Civil Aviation Administration of China said in a statement.
Boeing alone costs the Dow more than 200 points as stock posts big decline
Boeing fell more than 7.5 percent on Monday, a move that will likely keep the Dow Jones Industrial Average lower on the day.
The stock’s sharp move down cost the 30-stock Dow more than 200 points. Boeing has by far the biggest influence on the Dow given the index is price weighted.
In other words, a higher share price will have a greater impact on the Dow.
Boeing’s outsized influence over the Dow could be seen by looking at the index’s counterparts, the S&P 500 and Nasdaq Composite.
Boeing’s outsized influence over the Dow could be seen by looking at the index’s counterparts, the S&P 500 and Nasdaq Composite.
Both the S&P 500 and Nasdaq traded higher while, the Dow declined. In other words, the Dow would be positive if not for Boeing’s drop.
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