Boeing reports loss of nearly $3B in 2nd quarter after grounding of 737 Max

Media IN San Francisco, July 24 (BNA):

US top aircraft manufacturer Boeing Company on Wednesday posted a loss of about 3 billion US dollars in earnings for the second quarter of 2019 as a result of the global grounding of 737 MAX airplanes.

Boeing said its quarterly revenue nosedived by 35% to reach 15.8 billion dollars, compared to 24 billion dollars in the same period of last year, as its best-selling 737 MAX jets remained grounded globally since mid-March this year over the two deadly crashes that killed 346 people in Indonesia and Ethiopia, China News Agency (Xinhua) reported.

Boeing announced in April that the monthly production of 737 MAX was reduced from the rate of 52 to 42 airplanes after the second air crash in Ethiopia.