20 November 2019 (closed)
USD/IDR (14,112) +15.00 +0.11%
EUR/IDR (15,630) +20.13 +0.13%
Jakarta Composite Index (6,155.11) +3.02 +0.05%
After the fatal crash of an Ethiopian Airlines commercial airplane on Sunday (10/03/2019), concern about the reliability of Boeing's 737 MAX 8 plane - Boeing's most popular jet - has increased around the globe. The crash of Ethiopian Airlines Flight 302, which was en route to Nairobi, killed 157 people.
The crash in Ethiopia was the second crash of the popular Boeing 737 MAX 8 model. Earlier, in October 2018, a brand new Lion Air plane crashed shortly after take-off from Jakarta's Soekarno-Hatta International Airport, killing all 189 people on board. Initial findings indicate both Lion Air pilots were fighting an automated anti-stall software in the Max 8 model that may have been erroneously activated by incorrect flight data.
On Monday (11/03/2019) authorities in Ethiopia, China and Indonesia were the first to ground all Boeing 737 MAX 8 aircraft (leading to a big plunge of Boeing shares). Indonesia's Transport Ministry ordered the temporary grounding in a bid to inspect and ensure the airworthiness of the aircraft. In Indonesia two airlines use the Boeing 737 MAX model: Lion Air and Garuda Indonesia. Meanwhile, China is among the biggest users of the Boeing 737 MAX model.