In this March 27, 2019, file photo taken with a fish-eye lens, a Boeing 737 MAX 8 airplane sits on the assembly line during a brief media tour in Boeing's 737 assembly facility in Renton, Wash. Last Updated Wednesday, October 23, 2019 2:52PM EDT
U.S. airlines still don't expect to use their Max jets until early next year, however, and Boeing acknowledges that other countries might take longer than the U.S. to let the plane fly again. Boeing cited uncertainty around global trade in saying it will cut monthly production of the larger 787 jet from 14 a month to 12 for about two years, starting later this year. Last month, Muilenburg warned that trade tension with China -- the company's biggest foreign market -- threatened sales of widebody planes like the 787.
"We are diving deep into the documents, we are answering all the questions, and the FAA is taking the time to make sure we get it right," he said. Boeing's third-quarter net income fell to $1.17 billion from $2.63 billion a year earlier. Per-share earnings were $1.45 after excluding nonrecurring items, which was far short of the $2.04 Wall Street was looking for, according to a poll by Zacks Investment Research.
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Source: globeandmail - 🏆 5. / 92 Read more »
Boeing profit falls 53 per cent as 737 Max crisis continues to take heavy tollThe company had a negative free cash flow of $2.89 billion in the quarter, compared with a positive free cash flow of $4.10 billion a year earlier
Source: globeandmail - 🏆 5. / 92 Read more »
Boeing profit slumps 53% as 737 MAX grounding takes heavy tollOusts top executive of its crucial airplanes division, Kevin McAllister Wow, and here I thought having your state-of-the-art airplanes drop from the sky periodically and kill hundreds of innocent people would be good for business. 🤔
Source: nationalpost - 🏆 10. / 80 Read more »
Ex-colleagues say former Boeing pilot’s texts about 737 Max software are ‘no smoking gun’Boeing shares rose almost 2 per cent on Tuesday after it put out a lengthy statement defending its actions during the crisis globebusiness Well of course they’d say that what you think they’d go on the record and say “whoops we’re fucked”
Source: globeandmail - 🏆 5. / 92 Read more »