UAL - Airline CEOs Express Frustration With Boeing's Failures: 'This Isn't New' | Benzinga
Boeing Company (NYSE:BA) shares have had a down week after the Federal Aviation Administration (FAA) barred Boeing from expanding production of its 737 Max jets late Wednesday. Airlines are forecasting losses resulting from the fallout, and executives are speaking out about Boeing's quality control and manufacturing issues.
Airlines React: United Airlines Holdings, Inc. (NASDAQ:UAL) CEO Scott Kirby joined CNBC's "Squawk Box" on Tuesday and expressed his frustration.
"I'm disappointed that… this keeps happening at Boeing. This isn't new," said Kirby. "We need Boeing to succeed. But they've been having these consistent manufacturing challenges. They need to take action here."
United operates 79 Max 9 jets, the most of any airline, and now expects its fleet of Boeing Max 9s to remain grounded through the end of January. The company forecasts that it will report a first quarter loss in the range of $116 million to $262 million.
United also ...