BOEING BRACES FOR £4BN HIT FROM CRASH PLANE DELAYS

BOEING is taking a near $5 billion

(£4 billion) hit to compensate customers for delays in deliveries of its 737 Max aircraft. The planes have been grounded (pictured) following two crashes that killed 346 people. The sum set aside will wipe out secondquarter profits. Boeing chairman and chief executive Dennis Muilenburg, right, said: “This is a defining moment for Boeing. Nothing is more important to us than the safety of the flight crews and passengers who fly on our planes.”