Boeing Takes $1bln Hit Amid Grounding of 737 MAX Planes | WHAT REALLY HAPPENED


Boeing Takes $1bln Hit Amid Grounding of 737 MAX Planes

US aircraft manufacturer Boeing announced that it has taken on $1 billion in additional costs due to the grounding of its global 737 MAX fleet following two deadly crashes and the subsequent reduction in the plane’s production rate, CFO Gregory Smith stated during the company’s first-quarter earnings call on Wednesday.
Boeing on Wednesday abandoned its 2019 financial outlook, halted share buybacks and said lowered production due to the grounding of its fastest-selling 737 MAX jet after two fatal plane crashes in six months had cost it at least $1 billion so far, World News reported.

The world's largest planemaker is facing one of the biggest crises in its 103-year history following the disasters on Lion Air in Indonesia in October and another on Ethiopian Airlines on March 10, which together killed all 346 on board.

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(*One Billion Dollars and it only netted 346 ? That really says something about the costs of The Trump Population Reduction Plan)

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