Boeing said late Monday that it would indefinitely suspend production of its grounded 737 MAX jet after failing to meet a self-imposed target for its recertification from the Federal Aviation Administration.
The decision came after a two-day board meeting in Chicago that came after the FAA's chief administrator, Steve Dickson, cautioned that multiple milestones need to be met before the MAX could be granted clearance.
So, what does the Boeing suspension mean for airlines?
"Southwest (LUV) - Get Report is bad, American (AAL) - Get Report is bad, United (UAL) - Get Report is bad...Southwest has already made a deal. This is why people are worried about the dividend...How much do they owe? We don't know. The longer this thing goes on, the more I'm worried. But the stock itself doesn't reflect that. And so I keep thinking Boeing goes below 300, because I think that it's going to dawn on people how much they owe because these airlines are not going to let up," said Cramer.
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