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Covid-19: Boeing CEO sees slow air travel rebound, no dividend for 'years'

The comment was a signal that paying back debt and keeping up Boeing's manufacturing supply chain were bigger priorities than paying dividends for the foreseeable future

Boeing to freeze hiring, overtime due to 737 MAX, virus impacts
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Even before Covid-19 broke out, Boeing was already under pressure after two crashes of its 737 MAX killed 346 people, leading to a global grounding since March 2019.

AFPPTI New York
Boeing's CEO David Calhoun on Monday said that restoring the dividend could take three to five years as the company girds for a slow air travel recovery in the wake of the coronavirus crisis.

The comment was a signal that paying back debt and keeping up Boeing's manufacturing supply chain were bigger priorities than paying dividends for the foreseeable future.

Speaking at the company's annual meeting, Calhoun offered a sober outlook on the near-term prospects for commercial air travel in the wake of the virus that is projected to cost the airline industry an estimated $314 billions in 2020 revenues,

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First Published: Apr 28 2020 | 1:21 PM IST

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