If the numbers hold throughout the year, Airbus could replace Boeing as the world's largest aircraft maker
Regulatory authorities, in this case Federal Aviation Administration, also failed to check the critical aspects of safety in its eagerness to give speedy approval
The Max software was developed at a time Boeing was laying off experienced engineers and pressing suppliers to cut costs
The setback, at the very least, is expected to prompt additional disruptions to airline schedules across the US and overseas
The FAA recently found a potential risk that Boeing must mitigate
Airbus is expected to exploit the paralysis at its rival by unveiling an ultra-long-range addition to its A320-family of planes
Given that the two aircraft manufacturers are bound together in a global duopoly, Boeing may be able to change the dynamics to its advantage
The company acknowledged that it originally planned to fix a cockpit warning light in 2020 after two key lawmakers disclosed the company's timetable on Friday.
Boeing MAX jets have been grounded worldwide and airlines are cancelling multimillion contracts following crashes in October and March that killed nearly 350 people
Questions multiply about flight testing for the B737 MAX-8, MCAS software refinements, whistle-blowers and passenger confidence
The 737 MAX was grounded globally in March after a crash in Ethiopia killed all 157 people on board, the model's second deadly crash in five months
China was the first country to ground the 737 MAX two months ago after a crash in Ethiopia killed 157 people in March
Boeing is working closely with the device manufacturers and regulators on these changes and improvements, the company said in a statement
Dinesh Keskar, former senior vice-president of sales for Asia-Pacific and India, said in an interview that he stepped down from Boeing on May 2 after 39 years with the company
To date, Boeing has flown the 737 MAX with updated MCAS software for more than 360 hours on 207 flights
The shares dropped 3.4 per cent to $342.50 at 11:02 a.m. in New York, the lowest intraday price since Jan. 9. Caterpillar Inc., Apple Inc. and United Technologies Corp
Boeing is finalizing an update to software linked to both crashes, which it will submit to the Federal Aviation Administration in a crucial step toward getting the plane back in the air
Boeing expects the FAA to conduct a test flight by the end of next week of the software fix it developed for the flight system on the 737 MAX
The revelation raises new questions about Boeing's best-selling jet as the company works to convince airlines and regulators that the Max will be safe once a software update is installed
Boeing net orders for the first quarter slid into negative territory, with a total of minus 119 net orders after cancellations, despite a slew of new wide-body sales