Bengaluru — Boeing has abandoned its 2019 financial outlook,  saying it halted share buybacks in mid-March and announcing $1bn in increased costs due to the grounding of its 737 Max jets. Chicago-based Boeing is facing one of the biggest crises in its history following crashes involving its fastest-selling jetliner, one on Lion Air in Indonesia on October 29 and another on Ethiopian Airlines on March 10, which together killed all 346 on board. The world’s largest aircraft maker reported first-quarter revenue and cash flow below Wall Street estimates, largely due to stopping deliveries of the 737 Max jets, which were grounded in March after the two crashes. The crashes caused regulators worldwide to ground the 737 Max and triggered investigations into the aircraft’s development by federal transportation authorities and the US department of justice. Although safety experts have raised questions over crew performance in both crashes, the regulatory fallout has been dominated so far ...

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