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India’s air safety regulator orders new maintenance checks after Ethiopian plane crash

INDIA’S Directorate General of Civil Aviation (DGCA) yesterday (11) ordered new maintenance checks on Boeing 737 MAX 8 aircraft operating in the country.

The country’s air safety regulator added that a previous review found “no significant concern” after an Ethiopian Airlines plane crashed on Sunday (10).


The DGCA has asked Indian carriers to ensure that pilots have 1,000 hours and co-pilots 500 hours of flying experience on the 737 MAX 8.

India’s low cost air service provider SpiceJet has 12 737 MAX 8 planes.

The DGCA said its interim safety measures have been communicated to Boeing and the US regulator Federal Aviation Administration (FAA) for any additional advice.

Meanwhile, India’s cash crunch hit Jet Airways said on Monday (11) that it is not operating any of the five Boeing 737 MAX in its fleet.

Jet Airway’s statement has come amid aviation regulator DGCA’s order for new maintenance checks.

Jet Airways and SpiceJet are the only two domestic carriers that have 737 MAX planes in their fleet.

In a statement, Jet Airways said it has five Boeing 737 MAX planes in its fleet "but is currently not flying any of these aircraft".

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BoE governor Andrew Bailey

BoE governor Andrew Bailey acknowledged the AI sector in the US is "very concentrated"

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Bank of England warns AI bubble risk could trigger sharp tech correction

Highlights

  • UK share prices close to most stretched levels since 2008 financial crisis.
  • AI infrastructure spending could top $5 tn, with half funded through debt.
  • Homeowners face £64 monthly increase as 3.9 m refinance mortgages by 2028.
The Bank of England has warned of a potential "sharp correction" in the value of major technology companies, with growing fears of an artificial intelligence bubble reminiscent of the dotcom crash.

The central bank's financial stability report revealed that share prices in the UK are close to the "most stretched" they have been since the 2008 global financial crisis, while equity valuations in the United States are reminiscent of those before the dotcom bubble burst in 2000.

Valuations are "particularly stretched" for companies focused on AI, the Bank warned. It cited industry figures forecasting spending on AI infrastructure could top $5 tn (£3.8 tn) over the next five years, with around half funded through debt rather than by AI firms themselves.

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