Why Shares of Boeing Are Falling Today
Shares of Boeing (NYSE: BA) fell more than 5% on Tuesday afternoon after the company said it does not expect its troubled 737 MAX to return to service until mid-year at the earliest. Boeing had originally hoped to have the 737 MAX flying again before the end of 2019, but it's becoming clear that the plane's issues will weigh on the company well into 2021 at least.
It has now been more than 10 months since the crash of an Ethiopian Airlines 737 MAX that killed all on board and prompted regulators to pull the plane out of service. Boeing has failed to meet a series of internal deadlines to resolve the issues with the plane and get it airborne again, and in December said it would halt production to deal with a backlog of jets that were manufactured but can't be delivered to customers.
Boeing's 737 MAX in flight. Image source: Boeing.
Source Fool.com
