- Boeing Co on Wednesday abandoned its 2019 financial outlook, halted share buybacks and said lowered production due to the grounding of its fastest-selling 737 MAX jet after two fatal plane crashes in five months had cost it at least $1 billion so far.
The production slowdown alone has cost it $1 billion so far, the company said, because the lower rate means the planemaker has to pay more for parts, which are priced according to the volume Boeing buys. Investors are also looking for details on how the MAX crisis will hit development of Boeing’s all-new 777X twin-aisle jetliner and a potential new mid-market airplane, known in the industry as NMA, which is central to its fight with arch-rival Airbus SE in the lucrative longer-haul market and also is expected to lay the industrial foundation for an eventual 737 replacement.
Boeing cut production of the jets following the MAX grounding to 42 aircraft per month, down from 52, and its operating cash flow in the first quarter was around $350 million lower than a year earlier.
Boeing should have gotten it right the first time.
When your fiscal quality is profit over people. Sounds like there needs to be an investgation.
😓Poor giant faceless, heartless, souless corporation. Whatever will they do?
Did I hear correctly that the problems with Boeings 737 Max are much more than just the software. Something to do with the position of the engines – and even the engines themselves.
Boeing Head guy just got on Board of Directors for Tesla Space X. Well there goes the neighbourhood...as the Martians say!🤣🤣🤣
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Source: WSJ - 🏆 98. / 63 Read more »
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Source: washingtonpost - 🏆 95. / 72 Read more »
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