The United States on Wednesday grounded Boeing Co’s 737 MAX jets, citing new satellite data and evidence from the scene of Sunday’s crash of an Ethiopian Airlines plane that killed 157 people, the second disaster involving the 737 in less than five months.
It was the second time the US Federal Aviation Administration has halted flights of a Boeing plane in six years. It had grounded the 787 Dreamliner in 2013 because of problems with smoking batteries.
Shares of the world’s biggest plane maker, which were up earlier in the session, fell 2 per cent to $370.48. The shares have fallen about 13 percent since Sunday’s crash, losing about $32 billion of market value.