Boeing reports loss as 737 MAX grounding continues

Boeing posted a quarterly loss on Wednesday, in a signal that the U.S. aeroplane manufacturer is feeling the strain of its 737 MAX aircraft being grounded worldwide.

A statement by Boeing’s chief executive Dennis Muilenburg said that Boeing recorded a loss of 2.9 billion dollars in the second quarter of 2019.

During the same period in 2018, the Chicago-based firm made a profit of 2.2 billion dollars.

Muilenburg said, “This is a defining moment for Boeing and we remain focused on our enduring values of safety, quality, and integrity in all that we do, as we work to safely return the 737 MAX to service.”

Muilenburg, who came under fire for his handling of the 737 MAX crisis, did not give any indication of when the aircraft would be able to fly again.

The 737 MAX series was grounded in March following two crashes involving the 737 MAX 8 variants of Boeing’s best-selling jet, one in March in Ethiopia that killed 157 people and another in Indonesia in October that killed 189.

It remains unclear when the jet will be allowed to return to service.

Boeing initially said that it expected the grounding to last just a few months, but software enhancements and training requirements are taking longer than initially expected.