NewsBreak: Southwest Air Doesn't See 737 Max Flying Before March


© Reuters.

Investing.com – Boeing (NYSE:) shares were down 1.5% and were subtracting 35 points from the after Southwest Airlines (NYSE:) said it doesn’t expect its 737 Max 8 planes to be flying before March.

  • The Boeing (NYSE:) loss was the largest contributor to the Dow’s small decline on Friday.
  • The airline is Boeing’s biggest customer and had 34 of the planes in its fleet – 4.5% of the total – when they were grounded on March 13. In its 10Q SEC filing, Southwest said it was expecting a fourth-quarter Federal Aviation Administation approval to return the planes after upgrades to its systems and pilot retraining. For Southwest, that translated into service availability in early February. Now because of continuing uncertainty on when the approvals will come, Southwest is now targeting March 6. But even that date could be moved back, Southwest said.
  • The groundings also mean Southwest won’t be taking delivery of seven more 737 Max planes this quarter and is supposed to get 34 more after that.
  • Southwest shares were off 0.2% Friday afternoon.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





READ SOURCE

READ  BAE Systems wins $318 million contract from U.S. Army

LEAVE A REPLY

Please enter your comment!
Please enter your name here