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00:00PRESSURE CONTINUES TO GROW ON BOEING, CANADA GROUNDING THE BOEING 737 MAX WITHIN THE LAST HOUR. JOINING US IS BEN. FOR CANDIDATE TO DO THIS, THIS IS SIGNIFICANT AS WELL. WHAT DO ALL THESE AGENCIES AROUND THE WORLD KNOW, BECAUSE WE DO NOT STILL HAVE DETAILS ON THE BLACK BOX, SO THIS IS A HUGE STEP FOR THE CANADIANS TO DO THIS. BEN: WE SAW THE EUROPEAN SAFETY AGENCY, THE STEP TO GROUND THE PLANES, THAT WAS A REMARKABLE STEP BECAUSE USUALLY THEY AND THE FAA ARE ON POINT, IT IS MUTUAL GROUND INTO THEY LOOK TO EACH OTHER. THE FAA REGULATES BOEING. BUT FOR CANDIDATE TO STEP UP, THEY REALLY LOOK TO THE FAA FOR THIS KIND OF GUIDANCE. SO CANDIDATE WAS ONE OF THE FEW ALLIES THE FAA HAD LEFT IN TERMS OF COUNTRIES THAT HAD NOT DECIDED TO GROUND THE AIRCRAFT. GUY: THESE SAFETY AGENCIES, THEY DO NOT KNOW WHAT IS IN THE BLACK BOXES YET, ARE THEY LOOKING AT OTHER DATA WHICH COULD BE ENCOURAGING THEM TO MAKE THESE MOVES? BEN: IT APPEARS THAT THIS IS WHETHER THE CONFLICT IS BETWEEN THE FAA AND OTHER REGULATORS, THAT THERE IS SATELLITE DATA RECOVERED, JUST TAKEN FROM THE SATELLITES THAT KEEP TRACK OF THE AIRCRAFTS. AND CANADA AND EUROPE, THEY SEEM TO THINK THAT THIS IS SUFFICIENT ENOUGH TO GROUND THE AIRCRAFT. THE QUESTION IS FOR THE FAA, WHICH IS QUITE FIRM THAT IT IS NOT CONCLUSIVE ENOUGH TOWARDS THAT ACTION. GUY: HOW BIG OF A SNUB IS THIS, THAT THE BLACK BOXES ARE GOING TO EUROPE? BEN: WE DO NOT KNOW WHERE THEY ARE SENDING THEM YET, PERHAPS GERMANY OR FRANCE, OR THE U.K., BUT IT IS A SNUB TO THE FAA. IT IS A BOEING AIRCRAFT. GE ENGINES FROM THE U.S. SO IT IS UNUSUAL THAT THIS WILL NOT GO BACK TO BOEING. GUY: WHAT IS THE TIMELINE, ONCE THE BLACK BOX ARRIVES COME HOW QUICKLY CAN WE UNDERSTAND WHAT HAPPENED? BEN: THIS IS AN ATYPICAL EXAMPLE BECAUSE OF THE GROUNDINGS WORLDWIDE. THE REACTION HAS BEEN REMARKABLE, SO I IMAGINE THERE IS PRESSURE TO TRY TO GET AS MUCH DATA AS POSSIBLE AND AS QUICKLY OUT TO THE PUBLIC AS THEY POSSIBLY CAN. GUY: AIRLINES ARE LINING UP, SAYING, WHO WILL FOOT THE BILL? WHO WILL PAY? FOR NORWEGIAN, WHICH IS REALLY STRUGGLING AT THE MOMENT, HOW CRITICAL IS THIS ISSUE? BEN: THAT IS AN AIRLINE THAT HAS SUFFERED REPEATEDLY, ISSUES WITH ENGINES, WHICH ALSO LED TO GROUNDINGS. AND THEY HAD LATE DELIVERIES OF THEIR BOEING 737 MAX, SO THIS IS ANOTHER THING WHERE A COMPANY LIKE THAT THAT IS STRUGGLING WITH CASH FLOW, IT IS A QUESTION ON WHETHER THEY CAN GET COMPENSATION AND HOW QUICKLY THEY CAN GET THE CASH TO HELP PAD THEIR BOOKS. GUY: CASH FLOW CRITICAL AS EVER.

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Boeing, FAA Under Pressure After Canada Grounds 737 Max

Canada suspended flights on Boeing Co.’s 737 Max, joining a global rush to ground the single-aisle jetliner after the second deadly crash in five months. Bloomberg's Ben Katz reports on "Bloomberg Markets: European Close." (Source: Bloomberg)

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