Boeing says it’s taking a huge financial hit — to the tune of $4.9 billion — in the second quarter of 2019 after the grounding of its best-selling plane, the 737 Max aircraft. The aircraft was grounded following two fatal crashes totaling 346 deaths. There is no official timeline for when the planes will be back in service.
The loss is calculated as an estimate of concessions for Max customers flying planes less fuel-efficient than the 737 Max during the busy summer season and into the fall. Boeing will compensate these customers over several years, but is putting the financial hit on the books for Q2.
Most airlines flying the 737 Max canceled flights on routes into November, including United Airlines, American Airlines and Southwest Airlines. Boeing said it hopes to put the plane back into service during Q4, but the company also said that timeline might be delayed.
Boeing slashed production of the popular plane and halted all deliveries, now stockpiled in storage.
Read This Next
Introducing
FX Excursions
FX Excursions offers the chance for once-in-a-lifetime experiences in destinations around the world.
#globility
Insta FeedDaily
Apr 23, 20246 Wellness Experiences to Try Around the World from Four Seasons
Plan a wellness-focused getaway at one of these Four Seasons Hotels & Resorts around the world.
Sponsored Content
Share Your Travel Preferences with Global Traveler in a Short Survey & Win
Learning more about our readers’ travel habits and preferences ensures Global Traveler delivers the content you desire. As the travel industry has adapted and changed over the last few years, it’s more important than ever to connect. To best meet your short- and long-term travel content needs, please help us!
Daily
Apr 23, 2024Italian Airport Adds Vineyard to Its Roof
In Florence, Italy, plans for a new international terminal at Amerigo Vespucci Airport will include a 19-acre vineyard on its rooftop, part of the design by Rafael Viñoly Architects.
Daily
Apr 23, 2024Where to Find Some of Ireland’s Best Lighthouses
Surrounded by ocean on all sides, from the rocky Atlantic Ocean to the Irish Sea in the east and Celtic Sea in the south, Ireland’s beautiful coastlines also come with both historic and captivating lighthouses, many atop dramatic rocks and cliffs.
Sponsored Content
Why Buy Trip Cancellation Insurance?
Don’t risk losing all the money you’ve spent if you must cancel your trip at the last minute. Allianz Travel Insurance can give you:
Daily
Apr 22, 2024Meet 5 Women Shaping the Brixen/South Tyrol Travel Experience
Although a destination’s terrain, cuisine and cultural attributes always draw travelers in, it is often the people they meet that make the trip an enduring memory rather than a box to be checked off. It’s a job responsibility that people working around the Plose and adjoining town of Brixen (in Italy’s Trentino-Alto Adige region) take seriously. This is even more true for five women dedicated to introducing visitors to new aspects of the time-honored ski, leisure and hiking mountain destination in the Dolomites.
Explore The Chatwal Brand from City to Countryside
Daily
Apr 22, 20247 Reasons to Put Curaçao on Your Travel List
Slideshow
Apr 22, 2024Turtle Bay Resort Partners with Salesforce
Daily
Apr 19, 2024Daily
Apr 18, 2024Fort George Hotel & Spa Transforms Belize City from Gateway to Destination
Belize City is better known as a business center and a stop en route to Belize’s lush rural destinations, but Fort George Hotel & Spa promises to change things up and reframe the nation’s capital as a destination in its own right. Located in the city’s Fort George neighborhood, the hotel debuted as the first luxury hotel in Belize City, boasting sophisticated design, elevated culinary offerings, expansive guestrooms and an inspiring wellness program. The hotel also features a branded fitness center, plunge pool and K’IN Spa.
Sponsored Content
Briggs & Riley: Elevate Your Journey with Quality Luggage
Embracing a life well lived often means embracing a life well-traveled. Every journey becomes a canvas for experiences that shape our lives and at the heart of every adventure lies the indispensable companion: quality luggage.
Daily
Apr 18, 2024Explore the Secrets of the Distant Stars with Anantara Kihavah Maldives Villas’ New SKY Gurus
Have you ever looked up at the sky and questioned the mysteries of the universe? For travelers looking to learn more about the stars and their secrets, head to SKY at Anantara Kihavah Maldives Villas.
ShareThis