[3] The National Transportation Safety Board (NTSB) concluded that the captain had failed to reject the takeoff in a timely manner.

At 10:36 AM Eastern Standard Time (EST) Flight 41 pushed back from the gate and was subsequently de-iced.

Six minutes later, the captain stopped taxiing in order to clear additional ice by performing an engine run-up.

In the aft galley, two service carts dislodged and rolled down the aisle; one struck a flight attendant's left shoulder, breaking it.

[2]: 23, 46  At 11:37:21 the aircraft struck an electrical transformer owned by the Federal Aviation Administration (FAA) and came to a stop 4,800 feet (1,600 yd; 1,500 m) from the threshold of runway 4L.

[2]: 4, 15  On impact with the transformer, the number four (outer right) engine separated from the aircraft and the nose landing gear collapsed, damaging the wiring for the public address (PA) and interphone systems.

[2]: 23–24  The first officer had radioed air traffic control (ATC) of their situation and performed the engine shutdown checklist.

The flight crew considered initiating an evacuation, but given the aircraft had remained mostly intact with no signs of fire or any other danger reported and the low wind chill factor outside the captain decided not to do so.

He and a rescue worker managed to open door L2 and the passengers and crew were deplaned via the air stairs.

[4] The National Transportation Safety Board (NTSB) was informed of the accident just 13 minutes after it occurred and sent a "go-team" to JFK Airport.

[2] The airline's flight manual stated that using the rudder pedals during the takeoff roll was allowed until the airplane reached 80 knots.

The manual required takeoffs on slippery runways were to be performed with slow thrust application and pilots to keep in mind the lag of nosewheel steering as well as optimizing directional control.

[2] The NTSB released its final report on December 2, 1996, blaming the captain for rejecting the takeoff in an untimely manner along with applying inappropriate nosewheel steering tiller inputs.

The inadequate slippery runway procedures for the Boeing 747 and the inaccuracies in the simulators of that aircraft were also contributing factors in the accident.