Boeing uncertain how 737 crashes will hit profits

737 Max Image copyright Getty Images

Boeing has said it still does not know how the crisis over the safety of its 737 Max jets will affect its profits.

In its latest set of results, Boeing said that due to the uncertainty over when the 737 Max would be allowed to fly again, it could not forecast profits for this year.

It said new financial guidance will be issued “at a future date”.

In March a 737 Max 8 belonging to Ethiopian Airlines crashed, killing all 157 passengers and crew.

It was the second crash involving a Max 8 jet in five months. The two disasters prompted aviation regulators to ground the aircraft.

“Due to the uncertainty of the timing and conditions surrounding return to service of the 737 Max fleet, new guidance will be issued at a future date,” Boeing said in its first quarter results.

Boeing’s core operating earnings in the first three months of the year were 21% lower at almost $2bn, reflecting a one-third drop in deliveries of the Max 8.

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