Boeing is reducing production of its flagship line to 42 planes a month from 52 starting mid-April, in a move that could be more painful for suppliers than the plane maker
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Boeing shares fell 2% after hours. They're down 7% since March 8. JPMorgan Chase analyst Seth Seifman has estimated that Boeing may lose $1.5 billion to $2.7 billion for every month that 737 MAX deliveries are suspended. The move means pain for Boeing suppliers, some of whom have longer lead times on their products than Boeing does to assemble the planes, particularly Spirit AeroSystems, which produces the 737's fuselage, says Richard Aboulafia, an aerospace analyst with the Teal Group.Spirit's shares were off 1.9% in after-hours trading.
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