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		</div><p>Boeing will cut production of its 737 Max airliner this month, underscoring the growing financial risk it faces the longer that its best-selling plane remains grounded after two deadly crashes.</p>
<p>The company said on Friday that starting in mid-April it will cut the plane production to 42 from 52 planes per month so it can focus its attention on fixing the flight-control software that has been implicated in the crashes.</p>
<p>Boeing had already suspended Max8 deliveries last month after regulators around the world grounded the jet.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
<p lang="en" dir="ltr">“We will carefully review the AIB’s preliminary report, and will take any and all additional steps necessary to enhance the safety of our aircraft.” —Boeing Commercial Airplanes President &; CEO Kevin McAllister.</p>
<p>Read the full statement: <a href="https://t.co/kBvAhlv4JC">https://t.co/kBvAhlv4JC</a></p>
<p>&mdash; Boeing Airplanes (@BoeingAirplanes) <a href="https://twitter.com/BoeingAirplanes/status/1113836149653504001?ref_src=twsrc%5Etfw">April 4, 2019</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>Preliminary reports into accidents in Indonesia and Ethiopia found that faulty sensor readings erroneously triggered an anti-stall system that pushed the plane’s nose down.</p>
<p>Pilots of each plane struggled in vain to regain control over the automated system.</p>
<p>In all, 346 people died in the crashes. Boeing faces a growing number of lawsuits filed by families of the victims.</p>
<p>Boeing also announced it is creating a special board committee to review airplane design and development.</p>
<p>The announcement to cut production comes after Boeing acknowledged that a second software issue has emerged that needs fixing on the Max — a discovery that explained why the aircraft maker had pushed back its ambitious schedule for getting the planes back in the air.</p>
<p>A Boeing spokesman called it a “relatively minor issue” and said the planemaker already has a fix in the works. He said the latest issue is not part of flight-control software called MCAS that Boeing has been working to upgrade since the first crash.</p>
<p>Chairman and chief executive Dennis Muilenburg described the production cut as temporary and a response to the suspension of Max deliveries.</p>
<p>Boeing has delivered fewer than 400 Max jets but has a backlog of more than 4,600 unfilled orders. The Chicago-based company had hoped to expand Max production this year to 57 planes a month.</p>
<p>Indonesia’s Garuda Airlines has said it will cancel an order for 49 Max jets. Other airlines, including Lion Air, whose Max 8 crashed off the coast of Indonesia on October 29, have raised the possibility of cancelling.</p>
<p>A Boeing official said Friday’s announcement about cutting production was not due to potential cancellations.</p>
<p>In a statement, Mr Muilenburg said the reduction was designed to keep a healthy production system and maintain current employment — in effect, slowing down production now to avoid a deeper cut later, if fixing the plane takes longer than expected.</p>
<p>Analysts say the absence of deliveries will eat into Boeing’s cash flow because it gets most of the cost of a plane upon delivery.</p>
<p>Boeing declined to provide figures, but undelivered Max jets have been stacking up at its Renton, Washington, assembly plant.</p>
<p>Boeing shares closed at 391.93 US dollars, down 3.93 dollars. In after-hours after news of the production cut, they slipped another 8.98 dollars, or 2.3%, to 382.85 dollars.</p>
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