'It could well move to zero if Boeing don’t get their s--- together pretty quickly with the regulator,” Ryanair CEO Michael O'Leary said yesterday.
American Airlines warned investors last week that it expects the grounding will cost it $400 million in pretax earnings this year, $50 million more than it forecast in April.
O'Leary's comments highlight growing frustration among carriers left without their new planes, even as Boeing tries Boeing tries to quantify compensation for airlines and leasing firms.in the second quarter because of the grounding. It took a $4.9 billion charge in the second quarter for compensation it plans to pay to 737 Max customers. It said its production costs rose by $1.7 billion, and warned that costs could climb if the grounding goes on longer.
FAA officials on Wednesday morning are scheduled to face questions from a Senate transportation panel about oversight of the agency.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ex-Boeing 737 Max Engineer Says Team Were Pressured To Cut Costs As Grounding ContinuesFormer engineer of 30 years Adam Dickson told the BBC that worker faced an 'incredibly pressurized' design process.
Read more »
Ryanair boss warns of more 737 Max delivery delays if Boeing doesn't get its 's--- together pretty quickly'These are the stocks posting the largest moves before the bell.
Read more »
A former Boeing 737 Max engineer said he was 'incredibly pressurized' to keep costs down and downplay new features to avoid FAA scrutinyAdam Dickson spoke to BBC Panorama nearly five months after the Boeing 737 Max was grounded after two of the planes crashed, killing 346 people.
Read more »
Stocks making the biggest moves midday: Lyft, Chipotle, Starbucks, Boeing & moreCheck out the companies making headlines midday Monday:
Read more »
Boeing MAX Pain Spans Globe, Hurting Carriers’ Profit and GrowthMonths after the grounding of Boeing’s 737 MAX, the absence of the best-selling passenger jet is hitting profits, crimping growth and throwing services schedules into disarray at airlines around the world.
Read more »