The issue here is that reports claim Boeing may be looking at production cuts for the 737 Max line. Even worse is the talk that it may end up halting production altogether as it struggles to get the plane back in the air.
These reports claim that the Boeing Board of Directors is currently discussing how to handle the 737 Max fiasco. That includes this Boeing news about production cuts or complete stop. It also looks like an announcement is coming in the near future, reports Investor’s Business Daily.
Boeing news about it having troubles with the 737 Max isn’t much of a surprise at this point. It’s been dealing with issues since late last year surrounding the plane. These troubles reached a boiling point in March of this year when a fatal crash took place.
While Boeing has been trying to get its 737 Max planes back in the air, there’s been some trouble between it and regulators. That includes Boeing trying to push the planes back out quicker than regulators are willing to move.
More bad Boeing news is that the company is definitely not going to have the 737 Max back during the holiday season. That’s loads of traffic the planes are missing out. Toping that off is a declining reputation for the plane the longer the ban lasts.
BA stock was down 3.50% as of Monday afternoon. It’s also down 5.49% year-to-date.