Saturday, February 27, 2021Canada's Leading Online Business Magazine

Boeing Posts Annual Loss Due to 737 Max

Boeing logo2

CBJ — Boeing posted an annual loss for the first time since 1997 due to $19 billion in losses related to its grounded 737 MAX, including $4 billion in applicable charges.

The aircraft was grounded in March of last year after two crashes that killed 346 people.

Chicago-based Boeing has been updating the 737 MAX flight control system and software to address issues believed to have played a role in the two deadly crashes.

It’s still unknown when the 737 MAX will be authorized to fly again.

On a somewhat related matter, General Electric plans to reduce 737 MAX engine deliveries to Boeing by about 50% this year due to the ongoing uncertainties with the aircraft.

@CanBizJournal

Recommended
Pistol Bay Options Out Dixie 17-20, Red Lake, OntarioBlockchain Foundry Activates World’s First Bridge Between the Syscoin and Ethereum Blockchains