Boeing takes $1 billion hit from 737 Max woes - News Summed Up

Boeing takes $1 billion hit from 737 Max woes


Boeing said its costs in the first quarter rose $1 billion due to its 737 Max planes being grounded. Boeing withdrew its full-year 2019 forecast, saying it didn't reflect the impact of the problems surrounding the 737 Max. Boeing said Wednesday that costs tied to the global grounding of its 737 Max plane jumped $1 billion in the first quarter. In all, the delay in 737 Max deliveries could cut $10 billion from Boeing's cash pile in 2019, Bloomberg reported, citing analysts before Boeing results were released. American Airlines extends grounding of Boeing 737 Max 8 jets through August 19The 737 Max fleet remains grounded and new deliveries are suspended.


Source: Ethiopian News April 24, 2019 12:45 UTC



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