Boeing says it will take $1 billion hit on grounding of the 737 Max jet

Wolterk/iStock(NEW YORK) — Boeing announced Wednesday that it was taking an initial $1 billion hit on the grounding of the 737 Max jet following two fatal plane crashes in five months. The company also abandoned its previous full-year financial outlook as it grapples with the aftermath of the 737 Max fallout and works to implement …

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