United Airlines Holdings UAL has once again extended the grounding period of its Boeing 737 MAX jets as uncertainty looms over the aircraft’s return to service. The carrier, which has 14 such jets in its fleet, has now suspended all flights on the Boeing 737 MAX aircraft through Mar 4, 2020. It had previously expected the aircraft to remain grounded until Jan 6.
The airline had earlier stated that the ongoing groundings are likely to induce 93 flight cancellations per day in November and 75 each in December. Absence of the jets during the busy Christmas season is expected to dent United Airlines' top line in the current year.
Earlier this month, American Airlines AAL and Southwest Airlines LUV extended the suspension period of the MAX aircraft through early March 2020. As the groundings began in March 2019, following two successive deadly air crashes involving this aircraft model, these carriers including United Airlines had to extend the grounding period of the controversial aircraft a number of times.
United Airlines Holdings Inc Price
Amid such large-scale ambiguity revolving around the aircraft’s return to service, last week, Boeing BA said the Federal Aviation Administration could approve the software fixes on the plane as early as December and the agency might as well approve the fixes on the new pilot training program in January itself.
United Airlines carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
United Airlines Holdings Inc (UAL): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
Southwest Airlines Co. (LUV): Free Stock Analysis Report
The Boeing Company (BA): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.