Brand Finance, a UK-based consultancy that tracks the value of global brands, said on Monday it sees a $12 billion dent to the value of the Boeing brand, which it had called the most valuable in the aerospace industry worth $32 billion in 2018.
More Boeing 737 MAX flights have been cancelled until August the 19th, according to the American Airlines Group. In early April, the company took the extraordinary step of cutting its 737 Max production rate from 52 per month to 42.
Boeing's 737 MAX planes remain grounded worldwide after two crashes in five months killed 346 people.
Senior officials at American Airlines said they were "confident" that the Boeing upgrade would be approved by United States aviation regulators before 19 August, despite its decision to ground its fleet of 24 planes until then. American has previously said that all flights that were originally scheduled on a MAX plane will not be canceled, with some being substituted with other aircraft. It was the second accident involving the jet model in less than six months, after another flown by Indonesia's Lion Air crashed last October. Boeing has developed a software update that it says will head off any further problems related to the MCAS system, but regulators haven't yet approved the update.
Philadelphia 76ers roundtable: First round series predictions vs. Brooklyn Nets
After the contest, 76ers coach Brett Brown commented on the situation, telling reporters "it's completely unacceptable". The Sixers made the easy call and fined Johnson an unspecified amount for conduct detrimental to the team.
Donald Trump has claimed he would be able to fix the troubled Boeing 737 Max and rebrand it after the double air tragedies. Investigators have concluded that an automatic anti-stalling feature known as the Maneuvering Characteristics Augmentation System ― which can point the plane's nose automatically downward in certain rare but unsafe situations ― played a roll in both crashes.
He added that the update will make the plane "even safer" because it will prevent "erroneous" sensor readings.
"At Boeing we understand that lives literally depend on the work we do, and that requires the utmost excellence and integrity in how we do that work", Boeing CEO Dennis Muilenburg said at the George W. Bush Presidential Center Forum on April 11, 2019.
The global fleet of 737 MAX planes has been barred from flying since mid-March.