Results for: Financial Impact

Boeing has announced that its production of the 737 MAX aircraft will be reduced, impacting its recovery efforts following a mid-air incident in January. The company’s CEO, Dave Calhoun, acknowledged the challenges facing Boeing but emphasized the priority of safety and quality. Despite early signs of improvement in the 737 factory, production levels remain low, affecting the company’s financial goals. Boeing also anticipates a slower increase in production and deliveries of its 787 widebody jets due to supplier shortages. However, demand for new planes remains strong, and Boeing expects to deliver its existing inventory of 737 and 787 aircraft by year-end.

Boeing’s upcoming quarterly report is expected to shed light on the financial implications of the recent 737 Max 9 door plug incident, which has resulted in a production slowdown, increased scrutiny from federal agencies, and a seventh consecutive quarterly loss for the company.

Mahindra Finance, a non-banking financial company, has detected a fraudulent scheme involving forged KYC documents and embezzlement of funds within its retail vehicle loan portfolio. The incident, which was brought to light at one of the company’s branches in the northeast region, has prompted the postponement of the board meeting where the financial results for the fiscal year 2023-24 were to be approved. Mahindra Finance estimates a financial impact of approximately Rs 150 crore as a result of this fraudulent activity.