A pair of deadly plane crashes over the past five months has spun the Chicago-based aerospace giant Boeing into a full-blown crisis. The company faces lawsuits from surviving family members of at least two dozen crash victims, the worldwide grounding of two versions of its most profitable jet and harsh criticism from pilots.
Workers walk next to a Boeing 737 Max 8 airplane March 14, 2019, in Seattle. By Thomas Heath and Thomas Heath Local business reporter and columnist, writing about entrepreneurs and companies in the Washington metropolitan area Email Bio Follow Aaron Gregg Aaron Gregg Reporter covering the defense industry and government contractors.
“We have paused delivery of 737 Max airplanes due to the temporary grounding,” a Boeing spokesman said. “We continue to build 737 Max airplanes while assessing how the situation, including potential capacity constraints, will impact our production system.” [At tense meeting with Boeing executives, pilots fumed about being left in the dark on plane software]
Analyst Chris Higgins of Morningstar said halting the delivery of the 737, which accounts for about a third of the company’s operating profit, could affect quarterly revenue because the planes are not being delivered. The company could be required to cover lease costs. He said the backup is unlikely to negatively affect long-term revenue, however, “because you will eventually deliver those aircraft.
The worst-case scenario, analysts said, would be for investigators to uncover a design flaw in the jet that requires a full redesign for the entire fleet.
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