Boeing slashes production of widebody jets as Covid-19 hammers sales
Boeing Co slashed production on its widebody programs, delayed the arrival of its newest jet, and confirmed the demise of its iconic 747, as it reported a bigger-than-expected quarterly loss on Wednesday amid fallout from the coronavirus (Covid-19) pandemic.
The US planemaker, which is also grappling with the 16-month-old ban on its 737 MAX after fatal crashes, delayed its timeline to hit build rates of 31 narrowbodies monthly to early 2022 from 2021, as the pandemic decimates new jet demand.
It now expects to resume 737 MAX deliveries to airline customers before year-end in the United States, a slip from earlier guidance of end-September. That means the jet’s US return to service could slip to 2021.
