Boeing has not ruled out further reducing or temporarily shutting down production of the 737 Max aircraft, if the plane does not return to service by the end of the year, CEO says.
Aerospace company Boeing has not ruled out further reducing or temporarily shutting down production of the 737 Max aircraft, if the plane does not return to service by the end of the year, chairman and CEO Dennis Muilenburg said Wednesday.
Governments and airlines around the world have grounded the Boeing 737 Max aircraft after two fatal crashes in October of 2018 and March of 2019 killed a total of 346 people. Prior to the 737 Max grounding in March of 2019, the company had projected a different financial narrative for 2019. Boeing originally expected 737 Max deliveries to comprise about 90 percent of its total 737 deliveries in 2019, and had planned to increase the production rate to 57 per month in 2019, according to the SEC filing. In addition to Max grounding, the 737 Max program was plagued by supply chain delays in the first quarter of this year, the company said.
In June, Boeing secured a letter of intent from International Consolidated Airlines Group , the parent company of British Airways, Iberia, and Aer Lingus, for 200 737 MAX airplanes as well as commitments for other planes, according to the SEC filing.
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