Boeing will set aside $4.9 billion for the second quarter

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      The world's largest aircraft manufacturer, Boeing (BA.N), said on Thursday it would set aside $4.9 billion in after-tax expenditures in the second quarter to cover the estimated losses caused by the long grounding of 737 MAX aircraft.
Boeing said in a statement that the expenditure came from "possible concessions and other considerations to customers" and the impact of continued decline in production. Airlines using the 737 MAX model extended the grounding period to November.
Boeing said the expenditure would reduce revenue and pre-tax earnings by $5.6 billion in the second quarter.
The company's share price rose 2% in after-hours trading on Thursday, a sign that investors were not worried about initial spending. Boeing will report its earnings on July 24.
Boeing is facing one of the most serious crises in its history as its best-selling jet plane was grounded in five months after crashes in Ethiopia (Ethiopia) and Indonesia. Boeing is assessing the damage to its reputation and the financial cost of getting the plane back on track.


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