No fallout expected as Boeing grounds 737 Max aircraft - Bartlett

Tourism Minister Edmund Bartlett says he is not expecting any fallout for the local hotel industry in the wake of  the decision by Boeing to ground its entire global fleet of  737 Max aircraft after investigators uncovered new evidence at the scene of  the fatal Ethiopian Airlines crash.

The planes have also been temporarily restricted from Jamaica's airspace. 

Bartlett spoke with the Financial Report shortly after the Jamaica Civil Aviation Authority announced its decision yesterday evening.

“So far Jamaica  - and most of us in the Caribbean will not be affected too much by the restrictions,” the Tourism Minister said. 

Meanwhile, with Boeing's money-spinning 737 MAX aircraft grounded over safety fears, the world's largest planemaker is facing its worst crisis in years.

 Shares of  Boeing fell 3 per cent immediately after President Donald Trump announced the move from the White House yesterday.

The shares then rebounded in a sign that the grounding had been largely priced in to Boeing's stock. 

But even after ending yesterday slightly higher, the stock is still down more than 10% since the crash, wiping more than $25 billion off  the company's market value.


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