Boeing last week acknowledged that regulators' review of the planes — grounded since March after two crashes killed 346 people — would last until the following year, longer than the end-of-year approval the Chicago-based manufacturer was targeting.
Just how long Boeing will keep its 737 Max production line halted was not immediately clear, because it will depend on when regulators clear the plane to fly again. U.S. airlines have taken the planes out of their schedules until at least March. American last week said it doesn't expect to fly the planes before April.
"We know that the process of approving the 737 Max's return to service, and of determining appropriate training requirements, must be extraordinarily thorough and robust, to ensure that our regulators, customers, and the flying public have confidence in the 737 Max updates," Boeing said in a statement. "The FAA and global regulatory authorities determine the timeline for certification and return to service. We remain fully committed to supporting this process.
Boeing shares were up 0.7% in late morning trading Tuesday, after a more than 4% drop the day before.Smaller suppliers with smaller cash cushions are particularly vulnerable to the production pause, analysts said.
They’ll just buyback their stocks and people will be stupid enough to swallow it
They said watch Airbus
More bad news are coming as many downstream companies of Boeing will have a big trouble too.
What’s up Andrew!
Because there’s a jetliner parked in every driveway in America?
To put pressure on FAA through the congressmen from suppliers' states?
This Plane never should have been put in the air! The FAA has failed utterly to police Boeing!!! Or even give the appearance 'it' decides what happens and not the Airplane manufacturers! The FAA exists because Companies can not be trusted to Police themselves!!🤦♂️
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