Boeing's troubled jet will cost $1 billion to fix - News Summed Up

Boeing's troubled jet will cost $1 billion to fix


Boeing estimates that it will spend $1 billion to fix the 737 Max and has pulled its forecast of 2019 earnings because of uncertainty surrounding the jetliner, which remains grounded after two crashes that killed 346 people. Chicago-based Boeing Co. said its previously issued full-year guidance didn't account for 737 Max impacts. Boeing reported first-quarter net earnings of $2.15 billion, down $328 million or 13% from a year earlier. Investors and consumers have been keeping a closer eye on Boeing since Max jets crashed in October and March. Investors believe the market for jetliners will remain strong for many years and airlines don't have much choice for big planes — Boeing and Airbus form a duopoly, and both have huge order backlogs.


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



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