Workers stand near Boeing 737 MAX airplanes as they sit parked at a Boeing facility adjacent to King County International Airport, known as Boeing Field, on May 31, 2019 in Seattle, Washington.on Thursday said it will take a $4.9 billion after-tax charge in the second quarter due to the worldwide grounding of its 737 Max planes after two fatal crashes.
The charge, which comes to $8.74 a share, is set to wipe out any profit. Analysts expected the company to book a per-share profit of $1.80 for the second quarter, according to average estimates compiled by Refinitiv. The 737 Max jets have been grounded since mid-March and regulators have not said when they expect to allow the planes to fly again.
What Boeing needs to do is take the best parts of the 737 Max and incorporate them in a new design and forget about the current model for the sake of the Pilot's, Crew and the Flying Public.
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