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Boeing production halt

Recently, shares of Boeing and its suppliers fell dramatically after reports that the U.S. plane manufacturer could temporarily half production of the 737 MAX aircraft, the most popular within the company.

The decision could potentially cost billions of dollars, as use of the planes will be delayed until 2020.

Boeing's 737 plane is the best-selling of their products, but has been grounded since March after two fatal plane crashes in Indonesia and Ethiopia. The tragic accidents have cost Boeing over $9 billion in charges in the past nine months.

Early this morning, Boeing's shares fell 4% in pre-market trading, and its suppliers also faced stock price and share setbacks.

Boeing's CEO Dennis Muilenburg was on Capitol Hill a few months ago testifying to defend the company amid the crashes and catastrophes. CEO faced heavy criticism by Representatives of the Committee on Transportation and Infrastructure, and Boeing has not been able to regain the successes it experienced before the accidents.

The 737 production is set to be reconsidered, as Boeing hopes to get the planes in production and in the air as soon as possible. However, the U.S. Federal Aviation Administration still must approve the plane's return to service in order for it to return to the market.
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