Boeing’s comeback from covid crisis hinges on tarnished 737 Max
Boeing Co.’s manufacturing might and financial recovery are riding on the world’s most infamous aircraft, the 737 Max.
How quickly the planemaker rebounds from a devastating financial collapse depends, in large part, on whether travelers and airlines warm to its workhorse jet after two deadly crashes. US regulators on Wednesday cleared the Max to fly again, ending a 20-month grounding that was punctuated by damaging revelations, executive-suite turmoil and eye-watering cash consumption.
Tarnish and all, the latest 737 model remains Boeing’s best way to spur growth and restore a balance sheet battered by the flying ban and Covid-19 pandemic. The Max accounts for 80% of Boeing’s backlog of 5,121 orders and is the company’s only offering in the crucial single-aisle market.
