Boeing executives announced Wednesday that their revenues slid more than $1 billion this quarter after more than 50 countries around the world grounded the company’s 737 Max planes following two deadly crashes.
Revenue for the first quarter of 2019 fell 2 percent overall following last month’s decision to ground the planes, Boeing told The New York Times, with revenue from commercial airlines down more than $1 billion.
The revenue loss constituted a 9 percent drop in the company’s earnings from commercial airline sales, according to the Times, which reported that Boeing earned $11.8 billion in total this quarter from such sales.
Read more at The Hill.
{Matzav.com}