NEW YORK: Boeing could report its biggest loss ever on Wednesday (Jul 24), sagging under the weight of US$5.6 billion in costs so far due to the ...
Boeing's revenues are projected to be US$19.2 billion, a drop of more than 25 per cent compared with the same period of last year, hit by the halt to deliveries of the MAX.Costs from the MAX crisis so far amount to about US$8 billion, but the total hit will not be known for some time.The largest hit is for compensation to Boeing customers whose operations were impacted by the grounding of the planes, forcing the airlines to cancel flights into the fall.
But the company has maintained employment levels in spite of the diminished output, resulting in lower profit margins.Certainly. Boeing faces numerous lawsuits filed by families of the victims of the two crashes. The company announced plans to donate US$100 million to victims and communities affected by the accidents, but that will not be the end of the story.
US criminal investigators are probing Boeing's decisions about a flight handling system that has been linked to both crashes, known as the Maneuvering Characteristics Augmentation System or MCAS.They are looking into why Boeing did not develop specific training for pilots on the MCAS, and why a"disagree light" system meant to signal a problem in the system was sold as a supplemental feature instead of an essential safety item, a source told AFP.
Analysts consider this timeframe very ambitious for the global fleet, although the United States and Canada could move more swiftly than other countries.Some marketing experts think a rebranding of the MAX could benefit Boeing. But so far, Boeing is not making any changes.
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