Boeing slides to its lowest level in 13 months after pushing the 737 Max's ungrounding to mid-2020
shares tanked as much as 5.5% in late Tuesday trading after the jet manufacturer announced its 737 Max model won't return to service until at least mid-2020.
The company's latest estimate"is informed by our experience to date with the certification process," Boeing said in a Tuesday statement. The company will provide additional information on its push to return the 737 Max to service in its fourth-quarter earnings report scheduled for release on January 29.
"Returning the MAX safely to service is our number one priority, and we are confident that will happen," the companyBoeing stock traded as low as $305.83, its lowest price since December 2018. The Tuesday drop erased more than $10 billion in market value.
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