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FAA Alone In The World As Canada Orders Grounding Of Boeing 737 Max 8s

Summary:
This is getting a little awkward. Following reports that Boeing asked Trump directly not to ground the 737 Max 8, Canada's Transport Minister Marc Garneau is grounding all Boeing 737 Max 8 airplanes in Canada over safety concerns based on new information received this morning. The "safety notice" means none of the aircraft can fly ...

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This is getting a little awkward.

FAA Alone In The World As Canada Orders Grounding Of Boeing 737 Max 8s

Following reports that Boeing asked Trump directly not to ground the 737 Max 8, Canada's Transport Minister Marc Garneau is grounding all Boeing 737 Max 8 airplanes in Canada over safety concerns based on new information received this morning.

The "safety notice" means none of the aircraft can fly into, out of, or over Canada, he said:

"I will not hesitate to take swift action should we discover any additional safety issues."

Garneau has faced a dilemma over the aircraft that has been ordered out of the skies for the time being by the European Union, China, New Zealand, and Australia, among other countries.

Canada and the United States had been notable outliers as more and more jurisdictions have restricted the use of the planes, but now that Garneau has folded, the FAA is alone among the world's largest regulators in not banning the aircraft.

FAA Alone In The World As Canada Orders Grounding Of Boeing 737 Max 8s

Most notable, however, is the fact that Garneau said evidence about multiple Boeing 737 Max 8 flights suggests a worrying correlation between the Ethiopian Airlines crash and another off Indonesia in October.

"Generally, one should always be erring on the side of caution when it comes to safety questions," he said from Halifax.

"If there is enough evidence of a potential harm, and in this case I think there is evidence of potential harm, then the prudent thing is to ground those aircraft."

Garneau reportedly told the FAA about his decision this morning.

Bloomberg's Michael McDonough provides the best illustration of how this has affected worldwide air travel:

FAA Alone In The World As Canada Orders Grounding Of Boeing 737 Max 8s

 

Tyler Durden
Tyler Durden (a pseudonym) represents the idea that a return to truly efficient markets is a possibility and a necessity. After having experienced the inner workings of capitalism at various asset managers and advisors, Tyler believes that the current model is flawed and a deleveraging at every level of modern society is needed to reinspire the fundamental entrepreneurial spirit. Visit his blog: ZeroHedge (http://www.zerohedge.com/)

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