Boeing CEO Dennis Muilenburg is interviewed by Maria Bartiromo during her"Mornings with Maria Bartiromo" programme on the Fox Business Network, in New York. November 13, 2018.
Muilenburg was pressed by CBS about failing to notify the Federal Aviation Administration for more than a year that the company had deactivated a signal designed to advise the crew of a disagreement between the plane's "angle of attack" sensors, which measure its angle vis-a-vis oncoming air to warn of impending stalls.
In both of the MAX crashes, the MCAS pointed the plane sharply downward based on a faulty sensor reading, hindering the pilots' effort to control the aircraft after takeoff, according to preliminary crash investigations. Alexandre de Juniac, head of the International Air Transport Association, said Wednesday that the plane –– which has been grounded since mid-March –– will remain out of service "at least 10 to 12 weeks" while regulators review Boeing's proposed fix to the MCAS.
"We expect continued volatility in the shares until the issues hanging over Boeing move closer to being resolved," CFRA added.Earlier Wednesday, Muilenburg told an investor conference in New York that the company will tailor its compensation to airlines for the 737 MAX grounding around customer preference, and they could be paid back in services instead of cash.
Compensation could include tweaking plane delivery schedules, or offering additional training or services, as well as cash in some cases, he said.
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