Boeing confirmed it will suspend production in January of the 737 MAX, which has been grounded since March after two fatal accidents.
In a Monday afternoon announcement, the company has decided to temporarily suspend production on the 737 MAX assembly lines in Renton, Washington, according to
The company did not release a timetable for resuming production of the aircraft.
Boeing said that it will prioritize the delivery of stored 737 MAX as a result.
The company said it doesn’t expect any layoffs as a result of the production halt “at this time.” But layoffs could ripple through some of the 900 companies that supply parts for the plane.
Boeing’s stock came under pressure Monday after the Wall Street Journal reported on the possibility of a Max production halt. Boeing weighed the move after regulators U.S. regulators told it that its timetable for the return of the Max was unrealistic, the Journal reported.
The Associated Press contributed to this report.
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