Boeing said on Thursday it would take an after-tax charge of US$4.9 billion in the second quarter related to estimated disruptions from the ...
SEATTLE: Boeing Co said on Thursday it would take an after-tax charge of US$4.9 billion in the second quarter on estimated disruptions from the prolonged grounding of its lucrative 737 MAX passenger planes after two deadly crashes.
Boeing is facing one of the worst crises in its history as its fastest-selling jetliner has been grounded since March after crashes in Ethiopia and Indonesia that together killed 346 people in the span of five months. The Chicago-based planemaker is now reckoning with a blow to its reputation and the financial cost of getting the planes back in the air.
Boeing reduced the number of single-aisle aircraft it produces monthly in the Seattle area from 52 to 42 following the second crash in Ethiopia while suspending deliveries of the aircraft to airlines, which cuts off fresh cash infusions and hits margins.
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