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Boeing may face billions more losses - analysts

Video Credit: Reuters Studio - Duration: 01:38s - Published
Boeing may face billions more losses - analysts

Boeing may face billions more losses - analysts

Boeing may have to book billions of dollars in additional charges, two brokerages said on Monday, following latest developments around the planemaker's grounded 737 MAX jet.

David Pollard reports.

The pressure on Boeing went up one more notch on Monday ... After brokerages warned it may face billions more in losses.

A year on from the crash of a Lion Air 737 Max - which killed 189 people .... And after a second crash in Ethiopia in March killed 157 ... The planemaker could record $3.2 billion in charges on top of a $5.6 billion charge taken so far, According to an analyst at Credit Suisse.

Earlier this month, Boeing CEO Dennis Muilenburg said he hoped the 737 Max itself - grounded around the world - would return to service this quarter.

But a UBS analyst also warned it may face further delays.

Both brokerages downgraded Boeing stock.

On Friday, - and adding to sharp losses since the March crash - it lost 7 per cent following reports of internal messages at Boeing... Stating that the anti-stall system at the centre of crash investigations was behaving erratically during testing - even before the aircraft entered service.

Boeing expressed its regret over the messages, and said it was investigating what they meant.

Monday also heard a crash investigator in Indonesia say relatives of victims there would receive a final report into the crash this week.

Last month, Ethiopian Airlines families held an emotional vigil outside the Department of Transportation in Washington to mourn their relatives.

Boeing is facing roughly 100 lawsuits linked to that crash.




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