Trump orders grounding of Boeing 737 Max fleet in US

Trump issues executive order grounding all Boeing 737 Max 8 and Max 9 jets from CNBC.

President Donald Trump said he issued an executive order Wednesday grounding all Boeing 737 Max jets, following the second major crash within five months.

"We're gonna be issuing an emergency order of prohibition to ground all flights of the 737 max 8 and the 737 max 9 and planes associated with that line," Trump told reporters in Washington on Wednesday.

The move marks a stunning turnaround from the U.S., which has stood by the American-made aircraft as dozens of countries around the world ground the planes.

Trump said he had spoke with Boeing's CEO, Transportation Secretary Elaine Chao and the acting head of the FAA, Daniel Elwell.

"They are all in agreement with the action. Any plane currently in the air will go to its destination and thereafter be grounded until further notice," he said.

Shares of Boeing slipped by more than 2 percent after Trump's announcement.

Of the more than 350 Boeing 737 Max jets in global fleets, 74 are flown by U.S. airlines, according to the FAA. Those include United Airlines, American Airlines and Southwest Airlines. Southwest Airlines' fell by about 1 percent while Delta slid by less than 1 percent. 

"The safety of the American people, and all people, is our paramount concern. Our hearts go out to all of those who lost loved ones, to their friends, to their families [in both crashes] ... it's a terrible, terrible thing," Trump said. 

He called Boeing an "incredible company." 

"Hopefully they will very quickly come up with an answer, but until they do the planes are grounded," he added.

The FAA did not immediately respond to a request for comment.

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