Boeing Reports Lower Profits Amid 737 MAX Crisis - News Summed Up

Boeing Reports Lower Profits Amid 737 MAX Crisis


Boeing reported lower first-quarter profits Wednesday as the global grounding of its 737 MAX plane following two crashes hit results. The US aerospace giant reported $2.1 billion in profits, down 13.2 percent from same period a year ago. Revenues dipped 2.0 percent to $22.9 billion, due to a tumble in commercial plane revenues following the suspension of 737 MAX deliveries. Boeing also withdrew its full-year profit forecast, citing uncertainty surrounding the 737 MAX. The company has conducted more than 135 test flights of the fix and is working with global regulators and airlines, it said in a news release.


Source: Ethiopian News April 24, 2019 12:22 UTC



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