According to comprehensive foreign media reports, on October 23, Boeing announced its financial results for the third quarter of 2019. Affected by the continued impact of the global grounding of the 737MAX, Boeing’s profit fell 53% to $1.2 billion in the quarter, down from $2.3 billion in the same period last year; Boeing’s overall revenue fell to $20 billion.
Revenue at Boeing’s commercial aircraft division fell to $8.2 billion from $14.1 billion a year earlier, with Boeing citing the grounding of the 737 MAX as the main reason. Production costs for the 737 MAX rose by $900 million in the third quarter; commercial aircraft deliveries also fell 67% to 62 from 190 a year earlier.
While Boeing said it expects regulators to approve its fix for the 737 MAX by the end of the year, no U.S. airline has plans to return to service until 2020. Take Southwest Airlines, for example, which delayed the return of the 737 MAX to February next year.
Airlines will need at least a month to retrain 737 MAX pilots, remove the plane from storage and take other necessary steps before returning to service.
Boeing still expects to increase monthly production of the 737 MAX to 57 from the current 42.
The Links: GTS450CL120T2VH QM50TX-H