Boeing discloses U.S. SEC probe over 737 MAX

This post was originally published on this site

(Reuters) – Boeing Co (N:) on Friday disclosed it was being investigated by the Securities and Exchange Commission over the 737 MAX accidents.

The U.S. plane maker said in a regulatory filing https:// it was cooperating with the regulators and cautioned that any adverse results could have a further material impact on its financial position.

The company has been grappling with repercussions from the grounding of its best-selling 737 MAX since March.

The 737 MAX crashes in Indonesia in October 2018 and Ethiopia in March last year killed 346 people, and reports have suggested an automated system erroneously pointed the planes’ noses down repeatedly after take-off.

Earlier this week, Boeing reported its first annual loss since 1997 as 737 MAX costs doubled to nearly $19 billion and warned of another $4 billion in charges in 2020.

The company said on Friday it has also entered into two-year loan agreements with a syndicate of banks for commitments of more than $12 billion.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment