Boeing Shares Fall on 737 MAX Output Delays
Boeing shares dropped after CEO Kelly Ortberg announced that increasing 737 MAX production is taking longer than expected due to wing manufacturing bottlenecks. The company also faces supply chain hurdles and engine shortages affecting 787 Dreamliner output.
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BOEING CO CEO Kelly Ortberg said on Wednesday that stabilizing 737 MAX production at 47 jets monthly is taking longer than expected, sending shares down 4%. The delay threatens the company's financial recovery as it sits on $26 billion in net debt. Investors are closely monitoring production headwinds that now threaten full-year cash flow targets.
