Nearly one year after the first of Boeing’s two deadly 737 Max jet crashes, the American aviation company is moving to raise morale amongst shareholders by announcing its expectation of ungrounding the aircraft before the year is over.
In a possible effort to sugarcoat its reveal of a 53% drop in quarterly profit, Boeing announced Wednesday that it intends to obtain regulatory approval for the 737 Max by the end of the year, according to Reuters.
“Our top priority remains the safe return to service of the 737 Max, and we’re making steady progress, Boeing President and CEO Dennis Muilenberg said in the statement.
Boeing Co. has suffered a 22% drop in revenue in the third quarter, reported MarketWatch last week, also noting that analysts expect the aviation company will rake in only $19.61 billion in revenue for Q3 versus $25.15 billion from last year’s third quarter.
The Verge reported Wednesday that Boeing has earmarked more than $5 billion overall to cover 737 Max-related reimbursement fees to airlines, but the aviation company’s repayment estimates may not necessarily match up with projected costs for each carrier – meaning travelers may have to cough up more cash per ticket in months to come.
Muilenburg, who was recently called upon by the Federal Aviation Administration to explain the discovery of damning documents which identified early issues with the 737 Max’s unique software, was removed from the company’s board of directors earlier this month to allow him to “focus full time on running the company.” Less than two weeks later, Boeing announced Stan Deal would replace Kevin McAllister as president and CEO of the company’s Commercial Airplanes division.
Sourse: sputniknews.com