Boeing will cut production of its 737 Max airliner this month, underscoring the growing financial risk it faces the longer that its best-selling plane remains grounded after two deadly crashes. Chairman and chief executive Dennis Muilenburg described the production cut as temporary and a response to the suspension of Max deliveries. Boeing has delivered fewer than 400 Max jets but has a backlog of more than 4,600 unfilled orders. Boeing declined to provide figures, but undelivered Max jets have been stacking up at its Renton, Washington, assembly plant. In after-hours after news of the production cut, they slipped another $8.98 (€8), or 2.3 per cent, to $382.85 (€341).

Source: The Irish Times April 06, 2019 09:00 UTC