Boeing expects 737 Max to stay grounded until mid-2020
Boeing Co. announced Tuesday that its grounded 737 Max would not be cleared to fly until the middle of this year — months later than previously anticipated — in a new delay that will add to the company’s financial burden. Its stock price slid to the lowest level in more than a year.a software flaw
in December as it became apparent the company would miss its goal of recertifying the Max in 2019. The Max was grounded in March after the second of two deadly crashes that killed a total of 346 people.Boeing shares slid 3.3% to $313.37 on Tuesday, the biggest decline on the Dow Jones industrial average.
With the delay, Boeing’s best-selling jet will miss a portion, or possibly all, of the busy summer travel season for the second straight year. That will add to the compensation that the U.S. plane maker is likely to pay airlines.Calhoun, a former senior executive at General Electric Co. and Blackstone, stepped into the top job at Boeing on Jan. 13, emphasizing transparency and a streamlined organization.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Boeing seeks to borrow $10 billion or more as 737 Max crisis wears onThe company is suspending production of the planes this month as the grounding stretches into its 11th month.
Read more »
Boeing seeks to borrow $10 billion or more amid 737 MAX crisis: sourceBoeing Co is in talks with banks about borrowing $10 billion or more amid rising...
Read more »
Boeing says 737 Max won't be approved to fly again until mid-2020Boeing executives say the 737 Max will not be approved to fly until the middle of this year, the company said Tuesday.
Read more »
United beats Wall Street expectations despite ongoing 737 MAX delaysUnited Airlines Holdings Inc on Tuesday beat Wall Street estimates for quarterly...
Read more »
Air Niugini delays delivery of four 737 MAX jets until at least 2024Papua New Guinea carrier Air Niugini has updated its contract with Boeing Co to ...
Read more »