Stocks
Boeing Stock Sinks Amid Production Concerns
Boeing's stock price plummeted by as much as 6% on Friday after CEO Kelly Ortberg revealed that stabilizing 737 MAX production at 47 jets a month is taking longer than expected.
The company had just announced a record order from Korean Air for 103 Boeing jets, valued at $36.2 billion at list prices, including 20 777-9s and eight 777-8 Freighters.
Ortberg cited wing production bottlenecks at the Renton, Washington factory as the reason for the delay, despite progress on 737 MAX certification and maintenance programs.