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Yahoo BusinessJan 21, 2020
Boeing Sees 737 Max Return Slipping to Midyear, Adding to Strain
(Bloomberg) -- Boeing Co. said its grounded 737 Max won't be cleared to fly until the middle of this year, at least six months later than previously anticipated, adding to the company's financial burden.The U.S. planemaker is resetting expectations as it addresses two recent setbacks for the embattled Max: a software flaw that will require more work than expected and an audit that found some wiring on the plane needs to be shifted. The final determination on when the Max will fly again remains in the hands of U.S. regulators, Boeing said in a statement Tuesday.The worsening timeline deepens the challenge for Boeing as new Chief Executive Officer David Calhoun tries to repair frayed relationships with customers, suppliers and regulators. His predecessor, Dennis Muilenburg, was ousted in December as it became apparent that the company would miss its goal of recertifying the Max in 2019. The jet was grounded in March after the second of two deadly accidents that together killed 346 people.The new delay will "reduce deliveries and increase Boeing's reimbursements to airlines, which we believe will easily top $10 billion," Bloomberg Intelligence analyst George Ferguson said in a report. "Boeing will have to pay airlines for lost profit and the increased cost of training if simulator work is needed, as the airframer recommends."Every month the grounding drags on means a slower recovery for Boeing, which has halted production of the Max. More delays also signify growing costs to store about 800 of the single-ais

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