Boeing Trades Higher as Production of 737 Max Resumes

Boeing warns of potential wing problems in some 737 aircraft
  • Boeing has resumed production of the 737 Max, but the planes are still grounded after two crashes.
  • While expected, the resumption is a milestone for the jets and a sign of Boeing’s optimism for their clearance to fly again.
  • Boeing halted production of the planes in January and suspended deliveries just over a year ago.

Boeing halted production of the jetliners in January as a worldwide grounding of the planes dragged on longer than expected. Airlines have been prohibited from flying the jets since March 2019 after the second of two fatal crashes that together killed 346 people.

The stock is trading higher on the resumption on high volume this morning pre-market trading session.

Boeing Cuts Nearly 13,000 Jobs

  • Nearly 13,000 Boeing workers, mostly in the US, are set to lose their jobs in the coming weeks, as cuts at the American aerospace giant take effect.
  • More layoffs are expected, some of which may affect the UK.
  • The reductions had been expected since Boeing revealed plans last month to slash its global workforce by 10% – or roughly 16,000 jobs.

Source: CNBC, BBC

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