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Boeing doesn’t expect regulators to sign off on the 737 Max until June or July, people familiar with the matter said Tuesday. That date is months later than the manufacturer previously expected.
The delays pose another headache for carriers who have already missed one peak travel season without the planes.
Shares of the aircraft manufacturer fell on the news, trading down by almost 4% in afternoon trading.
The company is trying to shore up its financing to see it through the delayed approval process and rising costs stemming from the crisis. Boeing is in talks with banks to secure a loan of $10 billion or more in the meantime, according to people familiar with the matter. The company is grappling with increased expenses stemming from two fatal crashes of its 737 Max planes.
The total amount could rise if there is additional demand from banks, one person familiar with the matter said.
This is breaking news. Check back for updates.
