NEW DELHI — India has joined several other countries in grounding the Boeing 737-MAX planes following a crash in Ethiopia that killed 157 people on board.

India’s Civil Aviation Ministry in a tweet on Tuesday says the planes will be grounded until appropriate modifications and safety measures are undertaken to ensure their safe operations.

India’s Jet Airways already announced that it has grounded its five Boeing 737 Max 8 aircraft and is in contact with the manufacturer.

The ministry’s decision will also apply to another Indian airline, SpiceJet, which also has bought the planes.

On Monday, India’s aviation watchdog said it ordered a safety assessment of the aircraft.

It also issued safety instructions calling for the pilot-in-command to have at least 1,000 hours of flying experience and the co-pilot to have 500 hours on Boeing 737 NG type aircraft.

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.</s>March 11 (Reuters) - Marsh & McLennan Cos Inc is the broker for the world’s biggest plane maker Boeing Co, two sources told Reuters.

An Ethiopian Airlines passenger jet bound for Nairobi crashed minutes after take-off on Sunday, killing all 157 people on board, raising questions about the safety of the Boeing 737 MAX 8, a new model that also crashed in Indonesia in October.</s>(Reuters) - Boeing Co shares fell by the most in three years on Monday after China, Indonesia and Ethiopia ordered airlines to ground their 737 MAX 8 planes following the second deadly crash of one of the jets in just five months.

The drop - around 7 percent in late morning trade - wiped nearly $16 billion off Boeing’s market value, marking an abrupt reversal for a stock that had been the runaway top performer this year in the Dow Jones Industrial Average.

With a stock price near $400 a share, it was by far the largest drag on the price-weighted blue chip index on Monday.

A Nairobi-bound Boeing 737 MAX 8 operated by Ethiopian Airlines crashed minutes after takeoff from the country’s capital Addis Ababa on Sunday, killing all 157 on board. The same model, flown by Lion Air, crashed off the coast of Indonesia in October, killing all 189 on board.

“The grounding of the 737 MAX by China, Indonesia, and Ethiopian are near-term reputational negatives for Boeing that could impact sales, particularly if the FAA follows suit and also grounds the plane,” Cai von Rumohr, analyst at Cowen & Co, said in a research note, referring to the U.S. Federal Aviation Administration.

Still, von Rumohr and other analysts said the accident should not pose a long-term risk to a stock that has delivered the richest total return among the 30 stocks in the Dow over the 10 years of the current bull market. Since U.S. stocks began rebounding from the financial crisis in March 2009, Boeing shares have delivered a total return, including reinvested dividends, of nearly 1,600 percent, four times the performance of the full index.

Indeed, many investors saw the initial drop in Boeing stock as an opportunity to pick up the shares at a sudden discount. After dropping by as much as 13.5 percent in the first 10 minutes of trading on Monday morning, by late morning they had recouped roughly half the loss and were down just 6.7 percent.

For a graphic on Boeing shares crushed after Ethiopia jet crash, see - tmsnrt.rs/2Ca96E7

Spreads on Boeing’s bonds, a measure of the added compensation investors demand for owning its debt, were also wider, data from Refinitiv showed. Its credit default swaps, a form of insurance against a Boeing default, rose sharply in price, according to IHS Markit. The company has about $13.8 billion of bonds issued.

Boeing said on Monday the investigation into the Ethiopian Airlines crash is in its early stages and there was no need to issue new guidance to operators of its 737 MAX 8 aircraft based on the information it has so far.

Wall Street has been overwhelmingly bullish on Boeing - 19 of the 24 brokerages covering the stock rate it “buy” or higher, while five have a “hold” rating. No brokerage has had a sell rating on the stock since July 2017.

Even with Monday’s drop, it remained the Dow’s best performer so far this year with a gain of 21.6 percent compared with 9.45 percent for the full index.

Morgan Stanley analyst Rajeev Lalwani said there would be concerns about safety, production, groundings and costs, but that those should all be manageable longer-term.

He said he was not changing the bank’s positive “overweight” recommendation on Boeing shares, and that any corrective action the company has to take on its best-selling passenger plane will likely prove a longer-term buying opportunity.

Investigators have found the black box from the fatal crash with both the cockpit voice recorder and digital flight data, Ethiopian state TV reported on Monday, which should shed light on the cause of the crash.

Earlier in the day, China’s aviation regulator grounded nearly 100 Boeing 737 MAX 8 aircraft operated by its airlines after the crash.

Boeing’s shares lost 12 percent in the weeks following the Lion Air crash last year, but have more than recouped those declines.

Shares of Dallas-based Southwest Airlines Co - the biggest operator of the MAX 8 - fell 1.3 percent, while American Airlines Group Inc, which has 24 MAX 8 jets, was up 0.4 percent.

Southwest and American said overnight they remained fully confident in the aircraft and were closely monitoring the investigation.

Shares of Boeing’s European rival Airbus SE were up 1.3 percent in Paris.

Boeing delivered 806 aircraft last year, missing its target by four jets, but still retaining the title of the world’s biggest planemaker for the seventh straight year. European rival Airbus delivered 800 planes in 2018.

The 737 MAX 8 uses LEAP-1B engines made by CFM International, a joint venture of General Electric Co and Safran SA. Shares in Safran fell 1.7 percent on Monday.</s>NEW YORK (AP) — U.S. stocks moved broadly higher in midday trading on Wall Street Monday, led by a rally in technology shares. The gain for the Dow Jones Industrial Average was held back by a sharp decline in Boeing.

Stocks are coming off their worst week since December. Still, the major indexes are enjoying gains of 9 percent or more for the year so far.

Technology stocks powered the market's early gains. Apple rose 3.4 percent after an analyst upgrade while Nvidia gained 5.2 percent after agreeing to buy chipmaker Mellanox. Social media stocks also rose, with Facebook up 1.7 percent and Twitter up 2.8 percent.

Stocks also got a boost from a government report that showed a slight increase in retail sales for January that beat forecasts after a steep decline in December.

Boeing's stock fell 7 percent at midday following the second deadly crash involving the newest version of the aircraft maker's popular 737. Despite Boeing's decline, the industrial sector managed to eke out a small gain.

The week opened with investors still waiting for more details on any potential trade deal between the U.S. and China. Costly tariffs have hurt both nations and investors hope a deal can be struck to at least take some pressure off the global economy, which has shown signs of cooling off.

KEEPING SCORE: The Dow Jones Industrial Average rose 80 points, or 0.3 percent, to 25,530 as of 12:20 p.m. The S&P 500 rose 1.2 percent and the Nasdaq composite rose 1.7 percent.

BOEING FALLS: The airplane maker is facing fallout from a second deadly crash involving its important 737 Max 8. The 737 is its most popular plane and the Max is its newest version.

Boeing's stock has been soaring since the beginning of the year, but plunged Monday after the crash of an Ethiopian Airlines jetliner that killed 157 people. Back in October, another 737 Max 8 crashed in Indonesia, killing 189 people.

Authorities in Ethiopia, China and Indonesia have grounded all Boeing 737 Max 8 aircraft.

BANKING MERGER?: Deutsche Bank rose 4.7 percent following reports that it agreed to hold merger talks with rival Commerzbank.

CHIPS ON THE TABLE: Nvidia rose 5.4 percent after the chipmaker said it will buy network transmission company Mellanox for $6.9 billion in cash.

The companies are frequent collaborators and said that together they help to power more than 250 of the world's 500 supercomputers, including Sierra and Summit, operated by the U.S. Department of Energy.</s>After the second deadly crash involving the model in five months, several airlines have grounded the model

Canadian Transport Minister Marc Garneau says “all options are on the table” with regard to the country’s fleet of Boeing 737 Max 8 aircraft but says the government currently has no plans to order the grounding of the plane.

Garneau’s comments came minutes after announcements from Britain, Germany, France and Ireland that they were grounding or closing airspace to the new Boeing plane involved in the Ethiopian Airlines disaster.

He later tweeted that he has cancelled all his meetings and public events on Tuesday to meet with his Civil Aviation Expert Panel and will consider all potential actions.

Canada is working with the U.S. Federal Aviation Authority to determine if action is required.

READ MORE: Growing number of Boeing Max 8 planes grounded after crash

READ MORE: Canadians swamp airlines with safety concerns around Boeing 737 following crash

No U.S. airlines have grounded the Boeing 737 Max 8 models that they fly, but at least one group representing flight attendants at a major carrier says it does not want to put its members on the plane until further investigations are completed.

After the second deadly crash involving the model in five months, several airlines and countries in Asia, Europe and the Middle East have grounded it or banned it from their airspace.

The Association of Professional Flight Attendants, which represents more than 26,000 flight attendants at American Airlines, called on CEO Doug Parker to “strongly consider grounding these planes until an investigation can be performed.” The group said flight attendants will not be forced to fly if they feel unsafe.

Brian Parrish, a spokesman for Southwest Airlines which flies 34 Max 8s, said the carrier remains confident about the plane’s safety. American Airlines Group, which flies 24 of the planes, said it has full confidence in the model.

Like us on Facebook and follow us on Twitter.</s>After the second deadly crash involving the model in five months, several airlines have grounded the model

Canadian Transport Minister Marc Garneau says “all options are on the table” with regard to the country’s fleet of Boeing 737 Max 8 aircraft but says the government currently has no plans to order the grounding of the plane.

Garneau’s comments came minutes after announcements from Britain, Germany, France and Ireland that they were grounding or closing airspace to the new Boeing plane involved in the Ethiopian Airlines disaster.

He later tweeted that he has cancelled all his meetings and public events on Tuesday to meet with his Civil Aviation Expert Panel and will consider all potential actions.

Canada is working with the U.S. Federal Aviation Authority to determine if action is required.

READ MORE: Growing number of Boeing Max 8 planes grounded after crash

READ MORE: Canadians swamp airlines with safety concerns around Boeing 737 following crash

No U.S. airlines have grounded the Boeing 737 Max 8 models that they fly, but at least one group representing flight attendants at a major carrier says it does not want to put its members on the plane until further investigations are completed.

After the second deadly crash involving the model in five months, several airlines and countries in Asia, Europe and the Middle East have grounded it or banned it from their airspace.

The Association of Professional Flight Attendants, which represents more than 26,000 flight attendants at American Airlines, called on CEO Doug Parker to “strongly consider grounding these planes until an investigation can be performed.” The group said flight attendants will not be forced to fly if they feel unsafe.

Brian Parrish, a spokesman for Southwest Airlines which flies 34 Max 8s, said the carrier remains confident about the plane’s safety. American Airlines Group, which flies 24 of the planes, said it has full confidence in the model.

Like us on Facebook and follow us on Twitter.</s>Airline regulators across the globe are grounding Boeing 737 Max 8 planes, joining an ever expanding list of countries banning the plane from their airspace. This comes in the wake of Sunday's deadly plane crash in Ethiopia that killed all 157 people on board. The cause of the crash is still under investigation.

The latest move came Tuesday from the European Union Aviation Safety Agency (EASA) when it announced a suspension of two Boeing 737 Max models in all flights in the European bloc.

The wave of bans follows the Civil Aviation Administration of China's decision on Monday to order the country's airlines to suspend all commercial operations of their Boeing 737 Max 8 jets.

The U.S. Federal Aviation Administration does not plan to ground the jets in the United States but is facing growing pressure to do so.

The FAA announced Monday that it would require a series of design changes for the Boeing 737 Max fleet.

In the U.S., Southwest Airlines uses a fleet of 34 Boeing 737 Max 8 aircraft and is not planning any change in service. Likewise, American Airlines, which operates 24 of the planes, is not planning to ground them.

The full list of countries and airlines that have announced a ban is below:</s>A growing list of airline carriers around the world are grounding their fleets of Boeing 737 Max 8 aircraft in the wake of a crash that killed all 157 people on board.</s>MEXICO CITY (Reuters) - Mexican airline Aeromexico said on Monday it had suspended the operation of its six Boeing 737 MAX 8 planes until it had clear information about the investigation into the crash of an Ethiopian Airlines jet on Sunday.

“Flights operated with these planes will be covered by the rest of the fleet,” Aeromexico said in a statement.</s>ANCHORAGE, Alaska - Alaska Airlines is not flying the type of Boeing jets involved in a deadly Ethiopian Airways crash but has orders pending for the aircraft.

The Anchorage Daily News reports that the company says its fleet does not currently include the Boeing 737 Max 8 jets involved in a crash Sunday that killed all 157 people on board.

A Max 8 aircraft also crashed in Indonesia in October, killing 189 people.

Alaska Airlines says it placed a $5 billion order for 20 Max 8 and 17 Max 9 models in 2012 with plans to begin using them this summer, but it is “too early to speculate on future deliveries.”

Some international airlines say they are grounding their Max aircraft, while many American companies say they do not plan to do so.
Shares of Boeing lose roughly 9 percent after one of its best-selling planes, the Boeing 737 MAX jet, saw its second deadly crash in less than five months.