Southwest Airlines says it is pushing back to November the expected return of Boeing 737 Max planes on its flight schedule and as a result will drop about 180 flights from its schedule. Boeing Co. plans to record a $4.9 billion accounting charge related to its beleaguered 737 Max jetliner when the company reports quarterly earnings next week. The after-tax charge, equivalent to $8.74 a share, covers potential concessions and considerations for airline customers who have been forced to cancel thousands of flights and line up replacement aircraft since the Max was grounded in March, the company said in a statement Thursday. The costs will clip $5.6 billion from revenue and pretax earnings in the quarter. Investors will be parsing the company’s results, set for release Wednesday, for details of the financial blow that Boeing is absorbing as it churns out the single-aisle aircraft while waiting for regulators to clear the Max to resume commercial flights. Boeing was little changed at $361 after the close of regular trading in New York. The Max, Boeing’s best-selling jet, has been grounded since March after two flights crashed within a five-month span, killing 346 people. The disasters and questions about the aircraft’s design… Read full this story
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