Boeing has officially suspended its earnings forecasts as a result of the ongoing uncertainty about its 737 MAX 8 model.
The embattled aircraft manufacturer has reported a massive 21% dip in its profits during Q1 of 2019, chiefly due to the worldwide grounding of its 737 MAX fleet after two deadly accidents that resulted in the loss of 346 lives.
Both accidents bore striking similarities, with most experts agreeing that the likely cause was a failure of the aircraft’s anti-stall system.
The company is currently undertaking test flights while working on a software update to resolve the issue, but no clear solution has been delivered yet.