Boeing (BA - Get Report) said late Thursday it would take a $4.9 billion second-quarter charge in connection with the grounding of its 737 Max jets following two fatal crashes.

The Chicago aircraft maker said the charge, equal to $8.74 a share, represents "an estimate of potential concessions and other considerations to customers for disruptions related to the 737 MAX grounding and associated delivery delays."

Estimated costs to produce the aircraft rose $1.7 billion in the second quarter "primarily due to higher costs associated with a longer than expected reduction in the production rate," Boeing said.

Boeing said that "for purposes of the second-quarter financial results, the company has assumed that regulatory approval of 737 MAX return to service in the U.S. and other jurisdictions begins early in the fourth quarter 2019."

Shares of Boeing rose $5.70, or 1.6%, to $366.81 in after-hours trading.