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Boeing Posts Surprise Loss, 737 MAX Costs Climb to $19 Billion

Reuters

   Boeing Co. expects nearly $19 billion in costs related to the grounding
   of its 737 MAX jets, the U.S. planemaker said on Wednesday while
   posting a surprise loss and indicating it would cut production of its
   bigger 787 Dreamliner aircraft.

   The grounding, which followed two fatal crashes, forced the planemaker
   to freeze production of the 737 for the first time in more than 20
   years and led to the ouster of Chief Executive Officer Dennis
   Muilenburg.

   "We recognize we have a lot of work to do," Boeing President and CEO
   David Calhoun said in a statement. Adding to Boeing's pain, demand for
   its bigger and more profitable jet-- the 787 Dreamliner-- has waned in
   the face of the U.S.-China trade war, prompting the company to cut
   production, hurting cash flow at a time when its debt is mounting.

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