Boeing Co plans to cut its monthly 737 aircraft production by nearly 20 percent as it works to manage the grounding of its MAX aircraft in the ...
CHICAGO/SEATTLE: Boeing Co plans to cut its monthly 737 aircraft production by nearly 20 percent as it works to manage the grounding of its MAX aircraft in the wake of two deadly crashes, Chief Executive Officer Dennis Muilenburg said on Friday.
Muilenburg said the company now knows that a chain of events caused a Lion Air crash in Indonesia last October and the Ethiopia disaster, with erroneous activation of so-called MCAS anti-stall software"a common link" between the two. Boeing faces logistical issues in finding places to park the growing number of grounded 737 MAX planes as well as being responsible for all their maintenance costs since it has been unable to deliver the jets to customers, two people briefed on the situation said.
Having to hold planes in storage without delivering them does, however, consume extra cash through increased inventory.
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