Boeing expects an initial hit of $1 billion from the global grounding of the 737 MAX jetliner following two fatal crashes
Boeing Co. said it would take an initial hit of more than $1 billion on the global grounding of the 737 MAX jetliner following two fatal crashes as the plane maker suspended full-year financial guidance.
The initial charge covers Boeing’s estimate for higher plane production expenses and costs to fix flight-control software implicated in the accidents and provide additional pilot training as part of the effort to return the aircraft to service.
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