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Boeing, Suppliers Plunge on Stop-and-Go 737 Max Comeback (2)

June 11, 2020, 7:34 PM

Shares of Boeing Co. and its largest suppliers sank Thursday after the planemaker pared output plans for its beleaguered 737 Max just two weeks after restarting work in its Seattle-area factory.

A resurgence in Covid-19 cases in some regions of the U.S. has added to concerns that airlines face a prolonged recovery that will make it difficult for Boeing to meet delivery targets for its 737 Max, a crucial source of cash. The Chicago-based planemaker is already backtracking from an early May agreement with Spirit AeroSystems Holdings Inc. to deliver 125 Max frames this year.

Boeing fell more than 17%, ...

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