Boeing cuts 737 MAX output in wake of Lion Air and Ethiopian Airlines fatal crashesUpdatedBoeing will cut production of its troubled 737 MAX airliner this month, underscoring the growing financial risk it faces the longer its best-selling plane remains grounded after two deadly crashes. The move was not a complete surprise — Boeing had already suspended deliveries of the MAX last month after regulators around the world grounded the jet. Cutting production not due to potential cancellationsChairman and chief executive Dennis Muilenburg described the production cut as temporary and a response to the suspension of MAX deliveries. The Chicago-based company had hoped to expand MAX production this year to 57 planes a month. Airlines that operate the MAX will be squeezed the longer the planes are grounded, particularly if the interruption extends into the peak summer travel season.

Source: Ethiopian News April 06, 2019 01:15 UTC