Boeing Co said on Friday it plans to cut its monthly 737 aircraft production by ...
CHICAGO/SEATTLE - Boeing Co said on Friday it plans to cut its monthly 737 aircraft production by nearly 20 percent in the wake of two deadly crashes, signaling it does not expect aviation authorities to allow the plane back in the air anytime soon.
Production will be cut to 42 airplanes per month from 52 starting mid-April, the company said in a statement, without giving an end-date. Chief Executive Officer Dennis Muilenburg said on Friday said the company now knows that a chain of events caused both disasters, with erroneous activation of so-called MCAS anti-stall software “a common link” between the two.
Boeing faces logistical issues in finding places to park the growing number of planes as well as being responsible for all their maintenance costs since it has been unable to deliver the jets to customers, two people briefed on the situation said. Boeing supplier Spirit Aerosystems Holdings said it will continue to make 52 737 MAX shipsets - the complete set of parts for each aircraft - per month, storing extras at its facilities. Its shares fell 3.5 percent.
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