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Boeing Adjusts Financial Outlook For 2019

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According to Reuters, Boeing abandoned its 2019 financial outlook. The aerospace company made the decision to halt stock buybacks, while lowering its production schedule. Boeing restructured their 2019 financial outlook after the 737 MAX aircraft was internationally grounded following two fatal crashes within five months. The 737 MAX has been grounded for a month, which has prevented Boeing from delivering the aircraft. Since Boeing was forced to stop deliveries, they also lowered their profit estimates for the first quarter of 2019. The drop in production has cost Boeing an estimated $1 billion, in part because they had to pay more for parts, which are priced by the volume Boeing purchases.

Added on the 24/04/2019 16:51:29 - Copyright : Wochit

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