Boeing cuts production of its MAX series jets

Chicago - Following two fatal crashes and flight bans, the U.S. aircraft manufacturer announced that it would reduce the production of its 737 MAX series jets.

Boeing will throttle the production of its MAX series jets from 52 to 42 aircraft due to uncertainty surrounding the aircraft.

After the deadly accidents of two Boeing 737 MAX 8 in Indonesia and Ethiopia, the civil aviation regulators around the world, including the U.S. Federal Aviation Administration grounded the Boeing's best-selling aircraft ever.

The manufacturer is working hard to return its aircraft to the skies while struggling with the order cancellations and cancellation threats.

CEO Dennis Muilenburg said the production cut is a temporary measure, but the grounded jets could stay on the ground longer than previously expected. Last week on Friday, Boeing announced that engineers found another software drawback while working on the problematic anti-stall software. The issue is said to be independent of the failure that is believed to cause the Lion Air and Ethiopian 737 MAX 8s to crash.

"Boeing meets another software issue"

So far, Boeing has recorded around 5,000 orders for the 737 MAX series jets. The company was actually planning to increase the production of the aircraft to 57 units per month from this summer.

Although Boeing assures customers about the safety of its aircraft, a quick solution is not in sight for the time being.

Yesterday, American Airlines announced that it has extended cancellations of 90 flights a day through June 5 due to the grounding of Boeing 737 MAXs.

The extended cancellation by the largest U.S. airline operator is the sign that the aircraft is not expected to return to service soon.