Boeing freezes production of 737 Max from January
The troubled plane maker’s stock plunged nearly 4.5% on the news
Stocks impacted: Boeing Co (BA)
The Boeing Company is suspending production of its 737MAX aircraft, as following two fatal crashes due to the MCAS the aircraft has been grounded around the world. At that, the company said it would not lay off any of the roughly 12,000 employees there during the production freeze. The U.S. Federal Aviation Administration needs to certify software changes and training plans before the plane can resume flying in the country. It is hard to assess the potential financial impact on Boeing and its partners as the duration of the production halt is uncertain. Boeing will deliver financial information on the production suspension in connection with its fourth-quarter earnings release in late January.
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