As Boeing Co. works on damage control, Wall Street’s best-case scenarios for the aircraft maker is for a relatively short 737 Max grounding, no lengthy delivery halts, and no major redesign for the plane, the best-selling commercial jet of all time.
See also: Boeing’s reputation at risk following fatal crashes, but the company has overcome crises before The upgrade’s installation itself is likely to be “relatively easy,” and cost a relatively paltry $500 million, Herbert said in a note.The grounding could cost about $1 billion a month in lost free cash flow from delivery delays. The monthly bill could go up another $1 billion or so, depending on how much Boeing may have to reimburse airlines for the disruption, he said.
Around 370 Max planes were in service, and the plane’s backlog is approaching 5,000. Carriers operating the most Max planes include Southwest LUV, +1.07% Air Canada AC, -0.31% American Airlines AAL, +1.01% and China Southern 600029, +4.30%
Wow. Stock has free falled back to February levels. Now only up 15%. this year. 😣
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street lifted by tech shares, heavyweight Boeing pares lossesU.S. stocks rose after five straight sessions of declines on Monday boosted by t...
Source: Reuters - 🏆 2. / 97 Read more »
Wall Street rises after tame inflation supports patient Fed; Boeing drags DowU.S. stocks rose on Tuesday after tame inflation data supported the Federal Rese...
Source: Reuters - 🏆 2. / 97 Read more »
Wall Street rises; Boeing up despite U.S. grounding of 737 MAX jetsU.S. stocks rose on Wednesday, led by gains in healthcare shares, and Boeing edg... and FDA Chief under Obama's watch allowed Chinese Pharma to mfg. pop. American Generic blood pres. med now found contaminated & approved new generic mfg. by Indian Pharma not American pharma The issue isn’t MedicareForAll or whatever other kind of socialized healthcare. The issue is that there’s a ginormous “for profit” broker industry bleeding the freaking life out of America's medical system and Americans are paying the bill with their lives.
Source: Reuters - 🏆 2. / 97 Read more »
Southwest says it remains 'confident' in its fleet of Boeing planes after Ethiopia crashSouthwest Airlines Co. expressed confidence in its Boeing Co. aircraft and said has no plans to change operations in the wake of a deadly crash involving a 737 Max 8 aircraft in Ethiopia. But shares of the airline fell over 3% in premarket trading, alongside a nearly 9% drop in Boeing shares. "As Southwest operates a fleet of 34 Boeing 737 MAX 8 aircraft, we have been in contact with Boeing and will continue to stay close to the investigation as it progresses," said a spokesman for the company. Ethiopian Airlines Flight 302 crashed shortly after takeoff from the capitol of Addis Ababa, killing all 157 people on board. It's the second deadly accident involving Boeing's popular 737 Max 8 in six months, with the last occurring in October when an Indonesia Lion Air jet crashed into the sea, killing all 189 on board. China's civilian aviation authority has ordered all airlines to ground those Max 8 planes, while Ethiopian Airlines has grounded its entire fleet of those planes. "We don't have any changes planned to our operational policies or procedures," said the Southwest spokesman. Losses for Boeing drove a 170-point drop in Dow futures. Boeing needs to ground all these new 737's immediately Caution is warranted pending the investigation and review of the facts at hand. Dont be a hero
Source: MarketWatch - 🏆 3. / 97 Read more »