Published: Tue, January 21, 2020
Global News | By Blake Casey

Boeing now expects 737 Max to be grounded to mid

Boeing now expects 737 Max to be grounded to mid

Reuters reported last week that regulators had been pushing back the time needed to approve the plane.

Reuters reported on Monday that Boeing is in talks with banks about borrowing $10 billion USA or more amid rising costs for the USA planemaker after the two crashes involving the 737 Max.

The chairman of a large aircraft leasing firm wants Boeing to ditch the MAX moniker for its long-grounded fleet of planes. But the jets' return has faced potential new delays that are threatening to drive up Boeing's costs, including a new software issue disclosed by the company last week.

A spokesman for the US Federal Aviation Administration said the 777X flight was expected soon "but the timing is entirely up to Boeing".

Boeing has said it is working on a software update meant to fix the problem blamed for the crashes.

Boeing has told customers and suppliers "that we are now estimating that the ungrounding of the 737 Max will begin during mid-2020", the company said in a statement.

India 'biggest contributor' to downward revision in global growth: IMF's Gita Gopinath
Both figures are down compared with forecasts in October, and it marks the IMF's sixth straight reduction for 2019. While risks have eased, the International Monetary Fund was clear that that there's still plenty to worry about.

DAE has shelved plans to order hundreds of single-aisle jets from Boeing or rival Airbus, citing high prices.

The trial run is scheduled for Thursday at 1800 GMT, although "flight testing is dynamic, and the date could change due to weather and other factors", Boeing said.

Boeing has said its largest ever twin-engined model, created to hold on average 406 people, would fly for the first time in early 2020, with the first jet on track to be delivered in 2021.

Boeing's MAX bill includes compensating airlines for delayed deliveries and lost service on thousands of MAX flights, paying out legal settlements to victims, storing and maintaining hundreds of MAX planes that have been built but not delivered, and managing costs across the MAX program during the period before Boeing halted output completely.

The company has reportedly secured $6 billion already, and is talking to lenders to increase this figure.

Plus, the company and the FAA say-they're reviewing a wiring issue that could potentially cause a short circuit on the plane.

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