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Tuesday, January 19, 2021

MAX crisis pushes Boeing to biggest-ever loss

Duration: 01:12s 0 shares 1 views
MAX crisis pushes Boeing to biggest-ever loss
MAX crisis pushes Boeing to biggest-ever loss

The world's biggest planemaker Boeing posted its biggest-ever loss Wednesday, largely due to costs associated with the grounded 737 MAX.

As Francis Maguire reports, Boeing warns it may even have to halt production of the jet.

Boeing posted its largest ever quarterly loss Wednesday, As Q2 costs soared due to the 737 MAX crisis.

The world's biggest planemaker fell almost $3 billion into the red, And spent just over $1 billion in cash.

The MAX was grounded in March, after 346 people died in two crashes in Ethiopia and Indonesia in the space of five months.

The total cost of the crisis to Boeing now more than $8 billion.

Chief Executive Dennis Muilenburg said he's confident the MAX will be back in service as early as October.

But did say for the first time that Boeing may have to slow or completely stop production of the grounded jet.

That's if it runs into new hurdles with global regulators.

The planemaker has to satisfy safety experts it can reprogramme the software blamed for the two crashes.

Boeing also reported a fresh delay to its 777X widebody program.

That due to problems with engines supplied by General Electric.

The first flight of the new model now pushed into 2020.


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