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The 737 Max crisis cost Boeing $8 billion and counting

The financial fallout from the troubled 737 Max jetliner continues to swell for Boeing, which yesterday announced $7.3 billion in costs that will hit its bottom line, David Gelles of the NYT writes.

• “Boeing will take a pretax charge of $5.6 billion in the second quarter, its current estimate of what it will take to compensate its Max-flying customers.”

• “On top of that, Boeing said it expected the production slowdown to cost a further $1.7 billion.”

• And it has “already announced $1 billion in costs associated with the Max’s grounding last quarter.”

The costs could climb higher. The new figures “do not include the potential price of litigation associated with the Max, or the $100 million fund that it recently announced for families and communities affected by the two crashes,” Mr. Gelles writes. And the timing of the jet’s return to the skies is uncertain, which means that further compensation and continued slow production could increase costs further.