After Boeing’s stock price fell more than 4% yesterday, reaching its lowest point since August, the company announced it would be halting production of the company’s next-gen narrow-body plane, the 737 MAX, next month. The plane had been grounded worldwide since last March, following 2 separate crashes in a 5-month span, killing all 346 passengers and crew aboard. Since then, Boeing has been caught potentially misleading investigators and the public repeatedly about the MAX, missing a number of company target dates for re-certification along the way. The move to shut production was a long-time coming, as the aerospace manufacturer had stated all the way back in July that it would have to cease MAX production if the jet was not yet re-certified by the final quarter of this year. Last week, the FAA confirmed to congress that Boeing still faces a long road to getting the MAX back in service and it certainly would not be done by the end of 2019. While the 737 MAX represents about half of Boeing’s business at this point, the company is embroiled in a number of controversies unrelated to the MAX that threaten other models of their planes as well.
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