Boeing slumps to a loss as 737-Max costs hit $19bn

Boeing has swung to its first annual loss since 1997 on mounting 737-Max costs and indicated it would again cut production of its bigger 787 Dreamliner aircraft — currently its main source of cash.

Costs related to the global grounding of Boeing’s once fast-selling 737-Max reached $14.6bn (€13.2bn) in 2019 and the planemaker warned of another $4bn in charges in 2020 due to the expense of freezing and slowly restarting the jets’ production.