"Ethiopian Airlines Group expresses its profound sorrow and deepest condolences to the families of the victims and their loved ones on the tragic plane accident", Ethiopian Airlines said in a statement.
After Sunday's crash, passengers booked on Southwest and American airlines, both US-based companies that fly the Boeing model, began asking questions on Twitter about the safety of their upcoming flights.
Flight ET 302, went down near Bishoftu, southeast of Addis Ababa, after departing Bole International Airport in the Ethiopian capital, the airline posted on Twitter.
"It is confirmed it happened 8.44am (local time)", the spokesman said.
Records show that the Ethiopian Airlines passenger plane that crashed was a new one.
Boeing says it is not issuing new guidance to airlines about its 737 Max 8 aircraft after a second fatal crash on Sunday. Lion Air has bought 14 aircraft of the Boeing 737 MAX series in total, including the one that crashed in late October.
A photo released by Ethiopian Airlines showed the airline's chief executive officer inspecting the wreckage in a huge trench created by the crash.
Ethiopian Airlines said the plane had flown from Johannesburg to Addis Ababa earlier Sunday morning and "underwent a rigorous first check maintenance" last month.
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