ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • IRDAI sets a target of 5 years for life insurance companies for greater penetration; proposes state-level committee
  • Dalal Street Corner: Bank, FMCG stocks help Nifty clear crucial hurdle of 15,800; what should investors do on Tuesday?
  • Despite windfall tax, brokerages remain bullish on oil & gas stocks; see up to 70% upside on ONGC, Oil India
  • Rupee settles flat at 78.94 against US dollar
  • Akasa Air showcases crew uniform; conducts proving flight test
Read in App
Business News » World News

Boeing 737 MAX crisis is 'defining moment' for Boeing: CEO Dennis Muilenbur

The Boeing 737 MAX crisis has become a "defining moment" for the company, CEO Dennis Muilenburg said, but added that he was confident it hasn`t hurt the company`s long-term growth prospects. 

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Boeing 737 MAX crisis is 'defining moment' for Boeing: CEO Dennis Muilenbur
The 737 Max was grounded worldwide after a fatal crash of an Ethiopian Airlines jet this March, which took place within a span of five months of a fatal crash of a Lion Air jet in Indonesia in October 2018. Reuters

The Boeing 737 MAX crisis has become a "defining moment" for the company, CEO Dennis Muilenburg said, but added that he was confident it hasn`t hurt the company`s long-term growth prospects. Speaking at a New York analyst conference on Wednesday, Muilenburg said the company was laser-focused on getting the globally grounded 737 MAX fleet back in the air, although he did not give a timeline for when he thought that could happen, CNN reported. The 737 Max was grounded worldwide after a fatal crash of an Ethiopian Airlines jet this March, which took place within a span of five months of a fatal crash of a Lion Air jet in Indonesia in October 2018. 

Crash investigators have focused on an automatic safety feature on the jet as a possible contributor to the crashes that killed a total of 346 people. The CEO also did not comment on the overall cost to the company, but said he was convinced the aircraft will be safe once it returns to service. "Public confidence has been hurt, and we have work to do to earn and re-earn the trust of the flying public," he said. "We`re going to do everything we can to make sure... the MAX is safe to fly."

Muilenburg said Boeing will work with airlines on different forms of compensation for the grounding and the halt in new deliveries. He said some of that compensation could be in supplying services or future purchases at reduced cost. "There are a number of different ways we can address this issue," he said. "In some cases cash may be part of the solution."

The US Federal Aviation Administration (FAA) is currently reviewing a software fix Boeing has completed for the aircraft. Muilenburg said he hopes that aviation authorities around the world will follow the FAA`s lead, once it certifies the aircraft was safe to fly. Both Boeing and the FAA have come under intense scrutiny over the certification process for the 737 MAX since the March crash, CNN reported. 

Muilenburg maintained on Wednesday the certification was done properly. He said he was confident the FAA`s process, which allows manufactures such as Boeing to self-certify parts of new aircraft, is the best system. But he said Boeing is open to any changes in that process suggested by the various ongoing reviews.

Later on Wednesday, the Boeing CEO also appeared on CBS News, where he publicly apologized to the victims of the 737 MAX crashes. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Boeing 737 Max 8Aviation
Written By: ZeeBiz WebTeam
Updated: Thu, May 30, 2019
10:02 am
New Delhi, ZeeBiz WebDesk
RELATED NEWS
Boeing CEO admits mistakes on key 737 MAX safety system Boeing CEO admits mistakes on key 737 MAX safety system
Boeing dealt new blow as Airbus launches long-range A321 Boeing dealt new blow as Airbus launches long-range A321
Boeing says optional 737 MAX alert was 'not activated as intended' before Indonesia crash Boeing says optional 737 MAX alert was 'not activated as intended' before Indonesia crash
Virgin Australia to delay taking Boeing 737 MAX jets to cut spending Virgin Australia to delay taking Boeing 737 MAX jets to cut spending
Boeing 737 MAX aviation disaster: Pilots followed Boeing's emergency steps, but still crashed, says report Boeing 737 MAX aviation disaster: Pilots followed Boeing's emergency steps, but still crashed, says report

LATEST NEWS

IndiGo's OTP plunging in last 2 days: mass bunk, salary discontent among cabin crew

Vedanta Group eyes USD 3.5 billion turnover from chip business, one-third from exports

Twitter Blue users on Android can now customise navigation bar

CBSE Class 10 Result to be announced soon; check details, how to download here

Akasa Air showcases crew uniform; conducts proving flight test

Air India alerts people about hoax communication; link offering Rs 6000, fake, says company

Indian Railway opens sleeping pod hotel at CSMT

Apple AirPods Pro 2 likely to come with USB Type-C charging case - Check details

Will recession hit Indian shores in six months? Zee Business Managing Editor Anil Singhvi decodes

Despite windfall tax, brokerages remain bullish on oil & gas stocks; see up to 70% upside on ONGC, Oil India

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV