Boeing 737 MAX charges to top $18 billion

(Reuters) – Boeing (NYSE:) Co said on Wednesday it expects more than $18 billion in costs related to the grounding of its 737 MAX jets, and indicated it would cut production of its bigger 787 Dreamliner aircraft.

The company had negative free cash flow of $2.67 billion in the quarter ended Dec. 31, compared with a positive free cash flow of $2.45 billion a year earlier.

Core operating loss was $2.53 billion, or $2.33 per share, compared with a profit of $3.87 billion, or $5.48 per share, a year earlier.

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