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Boeing plans to cut its monthly 737 aircraft production by nearly 20 per cent as it works to manage the grounding of its MAX aircraft in the wake of two deadly crashes, CEO Dennis Muilenburg has said.
Starting mid-April, production will be cut to 42 airplanes per month from 52, the company said on Friday, but Boeing said that it does not plan any layoffs due to the reduction in output.
Deliveries - Boeing - Best-selling - Aircraft - Grounding
Deliveries of Boeing's best-selling aircraft were frozen after a global grounding of the narrowbody model following the crash of an Ethiopian Airlines jet on March 10.
Muilenburg said the company now knows that a chain of events caused a Lion Air crash in Indonesia last October and the Ethiopia disaster, with erroneous activation of so-called MCAS anti-stall software 'a common link' between the two.
Boeing - Progress - MAX - Software - Update
Boeing said it continues to make progress on a 737 MAX software update to prevent 'accidents like these from ever happening again,' he said.
Boeing had been planning to speed up production again in June to 57 a month.
Shares - Boeing - Co - Percent - Market
Shares in Boeing Co fell around one percent after the market closed on Friday.
The 737 MAX is banned from flying in most countries across the world following the Ethiopia crash that killed all 157 people on board.
Boeing - Issues - Places - Number - MAX
Boeing faces logistical issues in finding places to park the growing number of grounded 737 MAX planes as well as being responsible for all their maintenance costs since...
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