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India orders safety review of Boeing 737 MAX planes after Ethiopia crash

INDIA announced a safety review of Boeing 737 MAX planes being operated in the country following the Ethiopian Airlines crash yesterday (10). 

Four Indians are among the  157 dead as the Ethiopian Airlines 737 Max 8 plunged into farmland minutes after take-off from Addis Ababa for Nairobi on Sunday.


The victims came from more than 30 nations and included 22 United Nations' staff.

In India, Jet Airways and budget airline SpiceJet both operate 737 MAX planes.

A senior civil aviation ministry official said it would discuss with the Directorate General of Civil Aviation (DGCA) on action to be taken with regard to the 737 MAX aircraft.  

Jet Airways placed orders for 225 737 MAX planes with Boeing and some of those have been delivered.

SpiceJet has a deal with Boeing for up to 205 aircraft, including at least 155 737 MAX 8 planes.

The 737 MAX is the fastest selling airplane in Boeing's history.

Currently, SpiceJet has 13 737 MAX 8 planes and Jet Airways has eight such aircraft in their fleets, according to data from planespotters.net. 

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Malik Karim earns £8 million amid financial deals surge

Malik Karim

Fenchurch Advisory

Malik Karim earns £8 million amid financial deals surge

Highlights

  • Former Conservative Party treasurer Malik Karim takes home £8.6m from Fenchurch's £24.4m profit pool.
  • London-based financial advisory firm's revenues climb to £74.3m, up from £61.5m previous year.
  • Ugandan-born banker fled to Britain in 1972 during Idi Amin's expulsion of south Asian population.

A prolific City dealmaker whose family fled Uganda during Idi Amin's regime has taken home more than £8 m this year after his investment bank capitalised on a boom in financial services takeovers.

Malik Karim, 64, received £8.6 m from the profit pool at Fenchurch Advisory Partners, the London-based firm he founded in 2003.

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