India grounds Boeing 737 MAX planes; Jet, SpiceJet shares fall

India is grounding US planemaker Boeing’s 737 MAX aircraft immediately, the ministry of civil aviation said late Tuesday, following the fatal crash of a plane of the same type in Ethiopia Sunday. "These planes will be grounded till appropriate modifications and safety measures are undertaken to ensure their safe operations," the ministry said. Jet Airways and SpiceJet, two top Indian airlines, operate Boeing 737 MAX 8 aircraft. SpiceJet suspended Boeing 737 Max operations after the regulator’s decision to ground the aircraft, SpiceJet’s spokesman said on Wednesday. “We will be working with the regulator and the manufacturer to attain normalcy in our operations,” he added.<br/>