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- The Boeing 737 MAX groundings have had a deep financial effect on the aviation industry and a significant effect on the national economy of the United States. No airline took delivery of the MAX during the groundings. Boeing slowed MAX production to 42 aircraft per month until in January 2020, when they halted until the airplane is reapproved by regulators. Boeing has suffered directly through increased costs, loss of sales and revenue, loss of reputation, victims litigation, client compensation, decreased credit rating and lowered stock value. In January 2020, the company estimated a loss of $18.4 billion for 2019, and it reported 183 canceled MAX orders for the year. In February 2020, the global coronavirus pandemic and the resulting travel bans created further uncertainty for Boeing. In March 2020, news that Boeing was seeking a $60 billion bailout caused a steep drop in its stock price, though Boeing eventually received $17 billion in funds from the coronavirus stimulus. Its extensive supply chain providing aircraft components and flight simulators suffered similar losses, as did the aircraft services industry, including crew training, the aftermarket and the aviation insurance industry. At the time of the recertification by the FAA in November 2020, Boeing's net orders for the 737 MAX were down by more than 1,000 aircraft, 448 orders canceled and 782 orders removed from the backlog because they are no longer certain enough to rely on; the total estimated direct costs of the MAX groundings were US$20 billion and indirect costs over US$60 billion. On January 7, 2021, Boeing settled to pay over $2.5 billion after being charged with fraud. (en)
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| rdfs:comment
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- The Boeing 737 MAX groundings have had a deep financial effect on the aviation industry and a significant effect on the national economy of the United States. No airline took delivery of the MAX during the groundings. Boeing slowed MAX production to 42 aircraft per month until in January 2020, when they halted until the airplane is reapproved by regulators. Boeing has suffered directly through increased costs, loss of sales and revenue, loss of reputation, victims litigation, client compensation, decreased credit rating and lowered stock value. In January 2020, the company estimated a loss of $18.4 billion for 2019, and it reported 183 canceled MAX orders for the year. (en)
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