Boeing says cost of 737 Max grounding will surpass $18 billion

Boeing on Wednesday said the costs associated with the grounding of the 737 Max were likely to surpass $18 billion, a significant increase over earlier forecasts.

Boeing continues to grapple with the fallout from the crashes of two Max jets in 2018 and 2019, leading to the worldwide grounding of the plane in March. The crashes killed 346 people. The company suffered its first annual financial loss since 1997, acording to The Associated Press.