Boeing posts its largest-ever quarterly loss due to the spiraling cost of resolving issues with its 737 MAX. Read more:
Muilenburg said the company would consider further 737 output cuts below the current rate of 42 aircraft per month, or potentially suspending production if warranted - a step Boeing has not taken since 1997 when it halted 747 production and delayed introduction of a new 737 so suppliers could catch up.
Boeing also faces issues with other planes. It said its first flight of the 777X - the latest iteration of its popular long-range twin-aisle aircraft - is now delayed until early 2020 due to the engine problems announced last month, while its current plan for a first delivery to customers in late 2020 faced significant risk.
The grounding of the 737 MAX has sent shockwaves through the industry and also pushed back the launch of a new Boeing aircraft, a twin-aisle jet for the middle of the market. “We’re not going to run to any artificial timeline,” Muilenburg said, referring to a decision whether to launch the aircraft. FILE PHOTO: The Boeing logo is pictured at the Latin American Business Aviation Conference & Exhibition fair at Congonhas Airport in Sao Paulo, Brazil August 14, 2018. REUTERS/Paulo Whitaker/File Photo
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