Boeing slashes 737 jetliner output by 19% as global groundings drain cash

Boeing CEO outlined the plan on Friday as the company ramps up efforts to restore public confidence in the 737 Max

Boeing Co. is cutting production of its 737 jetliner for the first time since the Sept. 11 attacks as the planemaker works to limit financial damage from the global grounding of its newest and best-selling aircraft model.
 

By slashing output 19 per cent -- to 42 airplanes a month by mid-April -- Boeing will be able to reduce its spending on the 737 and preserve cash. As work slows in a Boeing factory south of Seattle, two key suppliers, CFM International and Spirit AeroSystems Holdings Inc., indicated they would continue full-tilt at the current record pace.
 

Boeing Chief Executive Officer