WORLD Boeing reports first annual loss in more than 20 years


Boeing reports first annual loss in more than 20 years

By SCOTT REEVES | China Daily

18:43, January 30, 2020


Boeing on Wednesday reported its first annual loss in more than 20 years from fallout of the worldwide grounding of its 737 MAX.

Boeing said it lost $636 million in 2019 compared with a profit of $10.46 billion in 2018.

The MAX, Boeing's best-selling jet, has been grounded worldwide since March 2019 following crashes in Indonesia and Ethiopia that killed a total of 346 passengers and crew.

Boeing hopes the plane will be recertified this summer, but it will take months to get the grounded aircraft back in the air.

Investigators believe the MAX's automated anti-stall device, called Maneuvering Characteristics Augmentation System (MACS) erroneously pointed the nose of the planes down to avoid a midair stall and into a fatal plunge. Boeing has updated the system's software, but the US Federal Aviation Administration hasn't yet approved it.

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue