) and its suppliers fell on Monday after reports that the U.S. planemaker could temporarily halt production of 737 MAX aircraft, potentially adding to billions of dollars in costs, as its return to service is pushed to 2020.
FILE PHOTO: A Boeing 737 MAX sits outside the hangar during a media tour of the Boeing 737 MAX at the Boeing plant in Renton, Washington December 8, 2015. REUTERS/Matt Mills McKnight/File Photo The best-selling Boeing plane has been grounded since March after two fatal crashes in Indonesia and Ethiopia killed 346 people, costing the plane manufacturer more than $9 billion in charges so far.
Boeing’s shares fell 4% in premarket trading to $328.13, while Spirit AeroSystems Holdings Inc fell 3.4%. Spirit is Boeing’s biggest supplier and makes the MAX fuselage along with other parts such as pylons. Analysts say a suspension of MAX production would likely result in significant additional charges for Boeing as well as it main suppliers, who have been shielded from a financial hit as they have continued to sell parts for the jet at a rate of up to 52 units per month, even as the planemaker has cut its own production to 42 per month.
Agreed!! The media refuses to talk about the fact the people need to be behind bars for this!!
So what!? Manslaughter charges should be their biggest concern!! Crazy that nobody is talking about that!! Hundreds died needlessly!!
Boeing stock May Crash Any Second 📉
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