Boeing may shut down 737 Max production
Beleaguered plane maker Boeing said it is seriously mulling halting production of the 737 Max if its grounding continues much longer.
During a call on its second-quarter earnings, CEO Dennis Muilenburg said: "Should our estimate of the anticipated return to service change, we might need to consider possible further rate reductions or other options," Muilenburg said.
That includes a ‘temporary shutdown of the Max production’ he said.
Boeing reckons the Max could be cleared to fly by the end of the year but there are serious doubts this will be achieved.
Muilenburg said the company still plans to keep producing up to 42 Max jets a month but these are lying idle and cannot be delivered until the plane is cleared to fly again.
The company says any production halt would be a temporary measure and has no plans to ditch the plane for good.
It reported revenue was down 35% from last year, with a second quarter loss of nearly $3 billion.
The 737 Max has been grounded since March after two crashes in less than six months killed 346 people.
Boeing announced last week that it would take a $4.9 billion net charge related to the Max grounding.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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