Boeing's decision to cut production of its 737 aircraft hit the shares of i...
PARIS - Boeing’s decision to cut production of its 737 aircraft hit the shares of its suppliers on Monday, while its own shares were lower in U.S. pre-market trading.
Boeing Co said late on Friday it planned to cut its monthly 737 aircraft production by nearly 20 percent after two deadly crashes, signaling it does not expect aviation authorities to allow the plane back in the air any time soon. Boeing’s shares were down by around 2.7 percent in pre-market trading, while its woes lifted shares of European arch rival Airbus by around 1 percent.
Production will be cut to 42 airplanes per month from 52 starting in mid-April, the company said in a statement, without giving an end date.
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