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Boeing Co is temporarily halting 737 production in January for the first time in more than 20 years as the grounding of the planemaker’s best-selling MAX after two fatal crashes looks set to last well into 2020.
Boeing, which builds the 737 south of Seattle, said it will not lay off any employees during the production freeze, though the move could have repercussions across its global supply chain and the U.S. economy.
The decision, made by Boeing’s board after a two-day meeting in Chicago, follows news last week that the Federal Aviation Administration (FAA) would not approve the plane’s return to service before 2020.
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