Shares of Southwest Airlines turned lower on Wednesday after President Donald Trump said the USA would immediately ground all Boeing 737 Max jets following the aircraft's second deadly crash in five months.
Southwest shares are still down 2.4% since an Ethiopian Airlines 737 Max 8 crashed over the weekend, causing countries around the globe to ground the Boeing model. The U.S., one of the last holdouts, also grounded a larger version of the plane, the Max 9.
Mr. Trump said the US government had received "new information and physical evidence" both from the crash site and other places, as well as "a couple of other complaints", which led to the decision. On Sunday, 157 people died when Ethiopian Airlines flight JT610 crashed minutes after takeoff.
Trump said the decision to ground the aircraft "didn't have to be made, but we thought it was the right decision".
American said it does not typically use the 737 Max on flights through Chicago, though it's possible there could be cancellations at O'Hare in response to the disruption.
The Ethiopian plane's flight data and voice recorders will be sent to France for analysis, Elwell said.
Some aviation experts have warned that finding answers in the crash could take months.
President Donald Trump initially announced that the FAA would be making an emergency order following "new information and physical evidence that we've received from the site and from other locations and through a couple of other complaints".
The Trump administration had continued to resist growing domestic and global calls to ground the 737 Max 8, even as Trump discussed the issue Tuesday in a phone call with Muilenburg. The Calgary-based company said it will "attempt to rebook guests for no additional charge", but is sticking to a policy that could see passengers pay the difference in fares or fees for the changed ticket.
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"We are supporting this proactive step out of an abundance of caution", said Dennis Muilenburg, chief executive officer of Boeing.
An American Airlines Boeing 737 Max 8, on a flight from Miami to New York City, comes in for landing at LaGuardia Airport in New York, U.S., March 12, 2019. Some flights will operate according to schedule with mainline or Air Canada Rouge aircraft, such as Montreal-Martinique and Montreal-Guadeloupe. "If they can't deliver the airplanes, where do they put the extra engines and the extra fuselage and the extra electrical components?"
Flightradar24, an air traffic monitor, said the plane's "vertical speed was unstable after take-off".
The warning could mean that investors were prepared for the latest grounding news, which would explain the relatively small move for the stock this week, even with the 737 under the microscope of government regulators around the world. But they have other options, Mann said.
"It makes me nervous because I am afraid of flying anyway, so I definitely spent last night checking if our flight was affected, but we were lucky".
Garneau previously said he had full confidence in the safety of the model and would not hesitate to board one.
William Washington, who flew with his band into San Antonio, said he welcomed the grounding decision. Aviation experts say other technical issues or human error can not be discounted.
Trump and the Federal Aviation Administration announced Wednesday all Max 8 and the longer Max 9 planes won't fly for the time being.
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