Boeing’s 737 Max troubles expected to sap US growth with projected hit to GDP in the second quarter

News

Boeing’s troubles with its 737 Max jets, which have been grounded since mid-March, are expected to sap growth out of the broader U.S. economy during the second quarter, according to a new Wells Fargo forecast.

American, Southwest and United have canceled thousands of Max flights and extended cancellations into peak summer travel months. Boeing said it’s completed 96 test flights totaling over 159 hours of air time with a new software fix, and expects to submit the plan to the Federal Aviation Administration in a couple weeks.

“When a fix is approved and deliveries resume, we would expect production to also increase and for new orders to pick up. We could see a slight boost to growth in the second half of the year, but the precise timing will depend on how quickly confidence can be restored in the 737 MAX,” the report said.

Products You May Like

Articles You May Like

Get the Back Pump of Your Life in Just 2 Moves!
Southwest yanks Boeing 737 Max from schedules through early November with no return in sight
Airport bureau de change outlets are charging ‘extortionate’ rates – here are the worst offenders
7 Incredible Body Benefits Of Building Muscle — Other Than Looking Great
How To Do A Goblet Squat Like A Pro

Leave a Reply

Your email address will not be published. Required fields are marked *