Boeing

After a second 737 Max jet crashed in less than five months, it took Boeing weeks to speak openly about the role its flight control software may have played. Then on April 4, CEO Dennis Muilenburg said: "It's our responsibility to eliminate this risk. We own it."

Critics say Muilenburg and Boeing waited too long to say it.

In the wake of two crashes of its 737 Max jet in recent months that killed 346 people and grounded those planes worldwide, Boeing continues to produce the planes while campaigning to reassure airlines, pilots, regulators and the flying public that they are safe.

Boeing says it has a software fix ready for its 737 Max airplanes that will be unveiled to airline officials, pilots and aviation authorities from around the world Wednesday, as the aircraft manufacturer works to rebuild trust among its customers and the flying public following two fatal crashes of the planes in recent months.

Many air travelers are breathing a sigh of relief now that the Federal Aviation Administration has grounded all Boeing 737 Max airplanes after two of the aircraft crashed in recent months, but some airline passengers are finding their flights canceled on Thursday as a result.

Updated at 11:12 a.m. ET

A federal order grounding all 737 Max jetliners in the U.S. comes after repeated assurances from the manufacturer that the planes are safe.

With its fastest-selling plane grounded in the U.S. and around the world, Boeing faces potential hits to its bottom line as well as to its reputation. A lengthy delay could cut Boeing's revenues by billions, some analysts say.

Updated at 5:48 p.m. ET

The Federal Aviation Administration says it is temporarily grounding all Boeing 737 Max aircraft operated by U.S. airlines or in U.S. territory.

The announcement Wednesday afternoon follows decisions by many other countries to ground the planes after 157 people died in Sunday's crash of an Ethiopian Airlines 737 Max 8.

Updated on Wednesday at 4:12 p.m. ET

On Wednesday, the Federal Aviation Administration ordered the temporary grounding of the Boeing 737 Max aircraft operated by U.S. airlines or in the U.S. territory. This follows similar moves by airline regulators across the globe in the wake of Sunday's deadly plane crash in Ethiopia that killed all 157 people on board. The cause of the crash is still under investigation.

Iran Air has finalized its historic purchase of 80 U.S.-made passenger jets, signing a deal with Boeing that's the first of its kind since the overthrow of Iran's shah in the 1970s. U.S. officials approved the deal in September, months after Iran emerged from sanctions.

President-elect Donald Trump wants to clip the wings of a new Air Force One, saying the customized 747 is too expensive.

"The plane is totally out of control," Trump told reporters Tuesday morning. "I think Boeing is doing a little bit of a number. We want Boeing to make a lot of money, but not that much money."

Earlier in the day, Trump tweeted that the new aircraft would cost more than $4 billion and urged the government to cancel the contract. Neither Trump nor his spokespeople said where that cost estimate came from.

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