Economic pessimism has set in – but there are reasons for Australians to be hopeful 
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Boeing had to stop the ongoing deliveries of its 737 Max plane units due to electrical issues. The aircraft maker said on Wednesday, April 28, that it made the decision as the discovered defect already grounded over 100 planes this month.
Boeing is fixing the reported issues
The electrical problem on Boeing Max 737’s is the latest issue that created a big impact on the company’s shares as it has reportedly slid down. But then, Boeing is already fixing the defect and said to be in the final stage.
Still, the deliveries of the Max 737 may not resume any time soon as it was reported that mending the electrical issues is taking longer than anticipated. The company said that originally, it is expecting to finish all the repairs before the summer as this is also the peak season for travel bookings.
Boeing’s chief Dave Calhoun told CNBC that he expects to finalize the repair instructions in relatively short order but did not say an exact date or time frame. The Federal Aviation Administration will be approving the repairs, and it stated that it is closely working with Boeing to address the glitches.
As per Reuters, the planemaker already delivered at least 85 737 Max planes which lightened its backlog of 400 units since the plane model was cleared and the ban was lifted in many parts of the world. The grounding was related to two previous fatal crashes.
Boeing’s shares plummet after the deliveries were stopped
After Boeing’s announcement of pausing the deliveries of 737 Max jets, The New York Post reported that the firm’s shares went down by almost three percent. This is the latest fall and Boeing’s sixth straight quarterly loss.
Meanwhile, the company is also facing issues with its Air Force One deliveries as it recently got into a conflict with its subcontractor GDC Technics. Boeing alleged that the aviation engineering company has failed to deliver the requested completion of works on time, and so it has incurred damages for this.
Boeing terminated their contract and sued GDC, but it fought back with a countersuit. Still, the firm said that it will still try to finish the works on the Air Force One on time. Two units of these customized planes have a delivery date of December 2024.
