Boson International Airport Gets Windfall Parking Unsafe Boeing 737 Max Airplanes

 Troubles for Boeing mean profits for Boson International Airport 

 

Shares in aerospace giant Boeing fell by almost six percent following reports that regulators plan to keep the company's fleet of troubled 737 MAX airplanes grounded until June or July, months later than originally expected. 

 

Trading was temporarily halted following the stock plunge. Boeing stock was down 3.3 percent on Wednesday at $313.37 per share, its lowest level in a year.

Boeing’s largest suppliers, General Electric and Spirit AeroSystems, were also down, by 1.2 percent and 3.8 percent respectively.

 The company's best-selling planes have now been grounded for 11 months. The worldwide grounding saw airlines lose more than $1 billion in revenue, and Boeing more than $7 billion. The company, which took a $5.6 billion pretax charge in July to compensate airlines and other customers for the grounding, is to report full-year and fourth-quarter earnings on January 29, 2020.

The 737 MAX has been grounded since March following two fatal crashes that killed 346 people.
Top Boeing 737 MAX customers Southwest Airlines, United Airlines and American Airlines have removed the plane from their schedules through June.
Although Boeing couldn't deliver the 737 MAX planes to customers it continued to build the jets, but at a slightly reduced pace of 42 per month. The company now has about 400 completed jets parked in Washington and Boson, Massachusetts, waiting to be delivered to airlines around the world.