Boeing sinks to $3b loss on MAX groundings

Boeing Co reported a nearly $3 billion second-quarter loss on Wednesday as the world’s largest planemaker struggles with the prolonged grounding of its best-selling 737 MAX jet, sending its shares down 1 percent in premarket trading.

The world’s largest planemaker has been unable to deliver any 737 MAX aircraft since the single-aisle plane was grounded worldwide in March after two fatal crashes in Ethiopia and Indonesia killed 346 people in a span of five months. Boeing disclosed a $4.9 billion charge last week that includes compensation the planemaker will have to pay airlines for the delayed deliveries.

Boeing has embarked on a campaign to restore faith in its most popular jet and has pledged to remove any risk by reprogramming the software pinpointed in both crashes.