Boeing Posts Annual Loss Due to 737 Max
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.