Boeing's problems with the 737 Max rages on as analysts projected that the troubled jet will most likely be faced with challenges until sometime in 2022 or even 2023 even if it gets recertified by the Federal Aviation Administration (FAA) next year.
According to CNN, industry experts also believe recertification will not arrive anytime soon, especially after the FAA reiterated that it will continue reviewing the jets through next year.
Boeing has been trying to convince the public and the aviation industry that can get the 737 Max recertified soon. However, the company had to bow to the FAA's decision. The U.S. jet maker announced earlier this week that it is planning to temporarily suspend the jet's production in January.
Analysts are divided over a set timeline regarding the potential recertification of the aircraft in question. Others believe the green light will come sometime during the first quarter of 2019, while others are more pessimistic.
Since the planes were grounded in March, Boeing kept manufacturing 737 Max models. To date, the company has an estimated 400 jets waiting for a flight. Airlines are still waiting for their orders to arrive and the issue has cost them millions in losses.
Employees will not be laid off at this point, but suppliers are starting to get a hang of the real crisis. JPMorgan analyst Seth Seifman said the group is expecting Boeing to "support suppliers" since it will be hard for suppliers to adjust financially once the green light for 737 Max jets arrives.
Being the world's largest jet maker, economists noted that the U.S. economy will most likely be impacted by the cut in 737 Max production, as well as losses among American airline companies that used to fly the jets.
It is expected that around 0.5 percent of the American economy's overall gross domestic product (GDP) will be slashed if the grounding ensues until March. It could also result in furloughs or layoffs in the near future.
Last week, American Airlines decided to cancel Boeing 737 Max flights until April 2020, marking the longest cancelation yet made by the aircraft maker's carrier clients.
According to Business Insider, American canceled all flights on the said jet until April 7 due to the increasing uncertainty surrounding the plane's return to service. The carrier's big announcement came shortly after the FAA's reiteration about its review of the model.
Boeing's crises with its 737 Max jets started after two tragic crashes that took the lives of 346 people. The Lion Air crash and the Ethiopian Airlines tragedy resulted in widespread criticism of the company's safety systems.
Airlines have also been calling for more action on compensation for their losses, while the victims' families have expressed dismay over the aircraft giant's alleged lack of sincerity in tackling the grief of the bereaved.
