Boeing predicts 737 Max won’t unground before mid-2020
Boeing has released a statement estimating that the ungrounding of the plane will take place during mid-2020.
It said that this prediction is based on its experience with the certification process.
“It is subject to our ongoing attempts to address known schedule risks and further developments that may arise in connection with the certification process,” said Boeing.
“It also accounts for the rigorous scrutiny that regulatory authorities are rightly applying at every step of their review of the 737 MAX’s flight control system and the Joint Operations Evaluation Board process which determines pilot training requirements.”
Boeing said that returning the 737 Max to the skies is its number one priority, and it remains confident that this will happen.
It also acknowledged the continued difficulties that the 737 Max saga has presented to its customers, regulators, suppliers, and the public, and said it will provide more information about its efforts to return the 737 Max to service when it releases its quarterly financial disclosures next week.
$10 billion in loans
CNBC reported that Boeing is seeking loans of $10 billion to help it survive the 737 Max crisis.
$6 billion has reportedly already been secured from financial institutions including Citigroup, Wells Fargo, and J.P. Morgan.
“Recent developments suggest a more costly and protracted recovery for Boeing to restore confidence with its various market constituents, and an ensuing period of heightened operational and financial risk, even if certification of the Max comes relatively near-term, as expected,” said Jonathan Root, Moody’s lead Boeing analyst.
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