Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

UPDATE 2-Canada sees no reason to ground Boeing 737 MAX 8, ready to act if need be

Published 2019-03-12, 07:33 p/m
© Reuters.  UPDATE 2-Canada sees no reason to ground Boeing 737 MAX 8, ready to act if need be
BA
-
WJA
-
AC
-

(Adds Canadian transport minister to brief media)

MONTREAL, March 12 (Reuters) - Canada has no plans to ground Boeing (NYSE:BA) Co BA.N 737 MAX 8 aircraft but is ready to "act immediately" to suspend flights if new information emerges indicating there is a problem, Transport Minister Marc Garneau said on Tuesday.

His comments come as a growing number of nations suspended operations of the plane after a crash in Ethiopia that killed 157 people, just five months after a deadly crash in Indonesia involving the same model. said Canada had not received any new information concerning the Ethiopian crash that would prompt it to ground Boeing 737 MAX 8 planes but that all options were on the table.

"If we received information or explanations that indicate that there's a problem ... certainly we'll act immediately," he told reporters in Montreal.

"I asked my team to evaluate all available options, which includes possibly temporarily grounding some planes - the MAX 8 planes - so we're ready to do so, if we decide to do so."

Garneau said later on Twitter he had canceled all his meetings and public events for Tuesday so he could consult with a panel of civil aviation experts. Canada's two main airlines - Air Canada AC.TO and WestJet Airlines Ltd WJA.TO - operate a total of 37 737 MAX 8 planes.

Garneau is due to hold a news conference at 11 a.m. (1500 GMT) on Wednesday in Ottawa to discuss the matter, but there are no immediate plans to order carriers to stop operating the aircraft, a government source said later on Tuesday.

The source - who requested anonymity given the sensitivity of the situation - said Canadian authorities were working very closely with the U.S. Federal Aviation Administration, which said on Tuesday it would not ground the plane.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.