KEY POINTS

  • The 737 MAX has been grounded since last March
  • Additional problems with the plane have cropped up since the recertification process began
  • The two crashes that precipitated the grounding killed 346 people

Boeing said Tuesday it’s likely the 737 MAX, which was grounded after two fatal crashes, will not return to service before midyear.

“We are informing our customers and suppliers that we are currently estimating that the ungrounding of the 737 MAX will begin during mid-2020,” Boeing said in a press release, adding even that date could be pushed back “subject to our ongoing attempts to address known schedule risks and further developments that may arise in connection with the certification process.”

The delay takes into account time needed to retrain pilots.

The plane was grounded last March following a pair of crashes that killed 346 people. The crashes were blamed on a faulty sensor that caused the planes nose to go down, triggering a death spiral.

Boeing had hoped the plane would be recertified before the end of March, but two more problems surfaced in recent weeks: a second software glitch involving a system that monitors data systems and a wiring problem in the tail.

“We acknowledge and regret the continued difficulties that the grounding of the 737 MAX has presented to our customers, our regulators, our suppliers and the flying public. We will provide additional information about our efforts to safely return the 737 MAX to service in connection with our quarterly financial disclosures next week,” Boeing said.

Boeing is due to report fourth quarter results Jan. 29.

The news sent Boeing (BA) stock down more than 3% in late afternoon trading. The stock hit a 52-week low earlier in the session but then recovered some ground.

United, American and Southwest already had pulled the 737 MAX from their schedules through early June.

The Federal Aviation Administration has said it is sticking to a rigorous review process and has not set a timeframe for returning the plane to service.

More than 380 jets have been grounded since the crashes involving Lion Air and Ethiopian Airlines, and production on new planes has been suspended. Before the accident, the 737 MAX was the bestselling plane in Boeing’s history.

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