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Boeing profit falls 21 percent after 737 MAX groundings

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Boeing profit falls 21 percent after 737 MAX groundings
FILE PHOTO: The Boeing logo is pictured at the Latin American Business Aviation Conference & Exhibition fair (LABACE) at Congonhas Airport in Sao Paulo, Brazil August 14, 2018. REUTERS/Paulo Whitaker   -   Copyright  PAULO WHITAKER(Reuters)
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(Reuters) – Boeing Co reported a 21 percent fall in first-quarter profit on Wednesday and suspended its 2019 outlook as the world’s largest planemaker worked to get its 737 MAX jets back in the air after two deadly accidents.

The company said it would be issuing a new forecast in the future when it has more clarity around the issues surrounding the 737 MAX.

Excluding certain items, Boeing said its core earnings fell to $1.99 billion (£1.5 billion), or $3.16 per share, in the quarter ended March 31 from $2.51 billion, or $3.64 per share, a year earlier.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Bill Rigby and Anil D’Silva)

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