Boeing posts first loss in more than 22 yrs, 737 MAX costs climb to $19 bn

Topics Boeing 737 MAX | Boeing

Boeing Co expects nearly $19 billion in costs related to the grounding of its 737 MAX jets, the U.S.

planemaker said on Wednesday while posting a surprise loss and indicating it would cut production of its bigger 787 Dreamliner aircraft. The grounding, which followed two fatal crashes, forced the planemaker to freeze production of the 737 for the first time in more than 20 years and led to the ouster of Chief Executive Officer Dennis Muilenburg. "We recognize we have a lot of work to do," Boeing President and CEO David Calhoun.....

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