US prosecutors and the Department of Transportation are scrutinising the development of Boeing's 737 MAX range of commercial jets, the Wall Street Journal reported, citing people familiar with the matter.
The latest crash prompted airlines from around the world to ground the model.
Mourners in Addis Ababa, Ethiopia carry portraits of victims from the Ethiopian Airlines crash.
In the case of the Lion Air flight, pilots had difficulties with a new system on the Boeing 737 Max which is created to keep the plane from stalling.
On Tuesday, investigators examining black box recordings from the flight said they had found "clear similarities" with the previous crash.
Boeing's boss has released a video message and open letter addressed to "airlines, passengers and the aviation community" in an attempt to provide reassurance after two crashes in five months involving its 737 Max planes.
Ethiopian transport minister, Dagmawit Moges, earlier this week sought to highlight the similarities between the two crashes.
Customers originally scheduled to travel on a 737 MAX can call Air Canada at 1-833-354-5963 for information within 72 hours of their planned flight. The plane was scheduled to make a one-hour journey to Pangkal Pinang on the island of Bangka.More news: US, Brazilian Leaders Seek Stronger Trade Ties Between Countries
"The 737 Max was certified in accordance with the identical FAA requirements and processes that have governed certification of all previous new airplanes and derivatives", Boeing said.
According to Quartz, evidence retrieved from the crash site of the Ethiopian Airlines that took the lives of 157 people points to the Maneuvering Characteristics Augmentation System (MCAS) as a key factor that resulted to the crash. They intend to to issue a preliminary report by mid-April. On Monday, the company's shares dropped by 1.8 percent in NY.
The Seattle Times said the company's safety analysis of the MCAS system had crucial flaws, including understating power.
The Transportation Department's inspector general also is probing the approval of the 737 Max by the Federal Aviation Administration (FAA), The Wall Street Journal also reported.
FAA officials had no comment Monday on the investigations but reaffirmed that the certification for the plane followed standard procedure.
Both planes flew with erratic altitude changes that could indicate the pilots struggled to control the aircraft.
Boeing's main rival, Airbus, has seen its stock rise 5 percent since the crash, but can not simply pick up the slack given the complicated logistics of plane-building.