China grounded its entire domestic fleet of Boeing Co. 737 Max planes after a model crashed in Africa on Sunday, a person familiar with the matter said, as scrutiny intensifies on the U.S. manufacturer’s best-selling jet.The country’s aviation regulator issued the order early on Monday local time, the person said. Ethiopian Airlines’ flight ET302 plunged to the ground minutes after leaving Addis Ababa en route to Nairobi, Kenya, killing all 157 people on board in what was the second deadly accidents in five months involving the model.A blanket grounding in one of the world’s biggest and influential travel markets is a further blow to Boeing’s reputation — and a potential threat to the Chicago-based planemaker’s finances. Chinese carriers account for about 20 percent of 737 Max deliveries worldwide through January, according to the company’s website.China Southern Airlines Co. has 16 of the aircraft, with another 34 on order, according to data through January on Boeing’s website. China Eastern Airlines Corp. has 13, while Air China Ltd. has 14, Boeing says. Other Chinese airlines to have bought the Max include Hainan Airlines Holdings Co. and Shandong Airlines Co., the data show. Get Talking Points in your inbox: An afternoon recap of… Read full this story
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