Beleaguered Boeing pulls 2019 financial forecast - News Summed Up

Beleaguered Boeing pulls 2019 financial forecast


The most valuable U.S. industrial company is reviewing its operations and working to convince regulators, airlines and consumers that the best-selling jet in Boeing history is safe to fly. The manufacturer abandoned its 2019 financial forecast as it deals with the Max’s grounding, which began six weeks ago after an Ethiopian Airlines jet went down minutes after takeoff. With Boeing enmeshed in one of the biggest crises in its century-long history, earnings missed analysts’ estimates for just the second time in five years. The company has also temporarily halted repurchases as it seeks to preserve cash and the 737’s production system. The accident in Ethiopia and an October disaster in Indonesia took a total of 346 lives.


Source: Ethiopian News April 25, 2019 00:11 UTC



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