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Jim Cramer Explains What's Moving Boeing's Stock

Credit: The Street
Published on April 4, 2019 - Duration: 01:29s

Jim Cramer Explains What's Moving Boeing's Stock

Officials in Ethiopia said the Boeing 737 MAX 8 plane that crashed shortly after takeoff last month was airworthy and that pilots followed all proper procedures prior to the catastrophe that killed all 157 passengers on board.

In a preliminary report following the March 10 disaster, Ethiopia's Transport Ministry stopped short of blaming Boeing's Maneuvering Characteristics Augmentation System software system, which similar probes in Indonesia have identified as the potential cause of the Lion Air crash in October that killed 189 people.

Ethiopian officials said Boeing should review the aircraft control systems and confirm their safety before MAX 8 planes return to normal service.

"The crew performed all the procedures repeatedly provided by the manufacturer but was not able to control the aircraft," Ethiopia's Transports Minister Dagmawit Moges told reporters Thursday.

"Since repetitive uncommanded aircraft nose-down conditions are noticed ... it is recommend that the aircraft control system shall be reviewed by the manufacturer."

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