Boeing records zero new 737 Max orders amid global grounding

Boeing records zero new 737 Max orders amid global grounding

Boeing records zero new 737 Max orders amid global grounding

One involved the Indonesian low-priced airline, Lion Air, which crashed and killed 189 people, while the other crash happened on March 10 when an Ethiopian Airlines plane crashed, with 157 people on board perishing in the accident.

Preliminary investigations into the crash show a potentially faulty sensor reading triggered a system which pushed the nose of the 737 Max 8 jet down, straight into the ground, killing all 157 peopele on board.

Net orders, an indication of future demand, fell to 95 aircraft in the first quarter from 180 a year earlier.

The anti-stall system is suspected as a cause of the Lion Air crash in October and an Ethiopian Airlines crash in March that also involved a MAX 8 jet.

The firm is the second largest operator of the Boeing 737 Max 8 in the US.

The plane maker reportedly delivered a total of 54 aircraft in March, more than a one third of 149 supplied jets since the beginning of the year.

China has chose to accept the invitation to join the U.S. Federal Aviation Administration's (FAA) review panel on the automated flight control system of the Boeing 737 MAX, said the country's top aviation regulator on Tuesday.

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American said it was too early to project the total cost of the suspended operations of the 737 MAX in the wake of two deadly crashes.

Also on April 5, Chief Executive Dennis Muilenburg acknowledged similarities between recent crashes of 737 MAX aircraft operated by Ethiopian Airlines and Indonesia's Lion Air.

The latest variant of Boeing's 737 family, which makes up the bulk of its narrow-body production, has been viewed as the likely workhorse for global airlines for decades and central to Boeing's long-running battle against Airbus.

The downgrade followed Boeing's announcement on April 3 that it was planning to cut the production of 737 Max jets to 42 a month from 52, starting in mid-April.

Bank of America Merrill Lynch on Monday downgraded Boeing's stock to "neutral" from "buy" and cut its price target to $420 a share from $480 after the crashes.

The company had been ramping up MAX deliveries before the grounding, with the planes accounting for almost half of its deliveries in the last few months.

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