The backlash against Boeing Co.’s 737 MAX jet escalated Tuesday, with groundings of the new jetliner spreading to Australia, Singapore and Latin America, amplifying the problem the company faces to contain the fallout from Sunday’s Ethiopian Airlines crash.
Smaller, ultraefficient long-range airliners are overtaking the once celebrated giant of the sky; crammed seats and fewer perks. Delta has replaced its fleet of jumbo jets with Airbus A350s, one of a new breed of smaller, ultraefficient long-range airliners. Nearly every other airline in the world is doing a version of the same thing, replacing huge jets with smaller ones.
Boeing’s dividend increase comes as the company has ramped up production of its most popular model, the 737. The company’s monthly production of 737’s has gone from 47 last year to its current rate of 52 and is expected to climb to 57 by the end of next year.
Boeing and Airbus have been expanding their footprint in China as they vie for orders in the fast-growing aviation market, which is expected to overtake the United States as the world’s largest in the next decade.
Canceling the orders could deprive the Chicago-based plane maker of one of its largest customers. Lion Air Group, which in 2017 became the first company to commercially operate a MAX jet, Boeing’s latest iteration of the 737, is one of the world’s top buyers of the planes.
Boeing (BA) failed to disclose possible issues with the flight control system on its new Boeing 737 Max jets before a deadly crash in Indonesia, according to a report. Boeing stock fell, testing a key long-term support level.
StockMarketNews.Today – Boeing [NYSE: BA] today announced its investment in Accion Systems Inc., a Boston, Mass.,-based startup pioneering scalable electric propulsion technology to transform satellite capabilities in and beyond Earth’s orbit.