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Bloomberg
Boeing Co is cutting production of its 737 jetliner for the first time since the September 11 attacks as the planemaker works to limit financial damage from the global grounding of its newest and best-selling aircraft model.
By slashing output 19 percent — to 42 airplanes a month by mid-April — Boeing will be able to reduce its spending on the 737 and preserve cash. As work slows in a Boeing factory south of Seattle, two key suppliers, CFM International and Spirit AeroSystems Holdings Inc, indicated they would continue full-tilt at the current record pace.
Boeing CEO Dennis Muilenburg outlined the plan as company ramps up efforts to restore public confidence in 737 Max and planemaker’s commitment to safety after two of the aircraft crashed within five months.