Boeing expected to post loses of $8.3 billion on MAX grounding

Boeing is expected to post losses of $5 billion this quarter and another $3.3 billion in the next.

Rumours spread quickly that the board had decided to furlough up to half the staff working in the 737MAX facilities across the company, with a knock on effect at suppliers, announcements may happen this week during the company’s earnings call.

Either way the company is said to be haemorrhaging cash at an unsustainable rate.

The FAA seems reluctant to meet the Boeing desired recertification date, and the latest revelations of pilot texts and emails describing in-flight problems on simulators as far back as early 2016 have led to more inquiries and demands for investigations.