Brand Finance, a UK-based consultancy that tracks the value of global brands, said on Monday it sees a $12 billion dent to the value of the Boeing brand, which it had called the most valuable in the aerospace industry worth $32 billion in 2018.
The plane's grounding has also threatened the US summer travel season, with some airlines removing the 737 from their schedules through August.
Another 737 MAX 8 flown by Ethiopian Airlines crashed on March 19 in Ethiopia. 737 MAX planes with updated software have made 96 test flights, accumulating "a little over" 159 hours of air time as of April 11, according to Muilenburg. Some US airlines have extended flight cancellations into mid-August, with an expectation that the plane will be recertified to fly before that deadline. "By extending our cancellations through the summer, we can plan more reliably for the peak travel season and provide confidence to our customers and team members when it comes to their travel plans", American Airlines' executives explained in a statement distributed to team members.
The Boeing 737 MAX 8 remains grounded in the US following two deadly crashes under similar circumstances within a matter of months. The cancellations will affect about 115 flights per day through August 19.
The airline says its reservations and sales teams will work with customers to manage their travel plans.
Monday is not the first time Trump has offered his commentary on the 737 MAX planes. The FAA is working with Boeing as it develops a software upgrade and proposes to increase the level of training that 737 Max pilots must receive. American has previously said that all flights that were originally scheduled on a MAX plane will not be canceled, with some being substituted with other aircraft.
On Twitter, American Airlines passengers posted complaints Sunday about canceled flights impacting vacations, speaking engagements and travel to funerals and noted problems re-booking flights.
The cancellations were caused by hail, thunderstorms and high winds in Dallas followed by snow in Chicago, he said.
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