The timeframe for the 737 MAX to return to the skies was officially pushed back by Boeing, sending shares plunging and overshadowing an earlier announcement of a first flight of the delayed 777X plane.

The timeframe for the 737 MAX to return to the skies was officially pushed back by Boeing, sending shares plunging and overshadowing an earlier announcement of a first flight of the delayed 777X plane. The jet has been grounded since March following two deadly crashes and the latest delay in the schedule for the troubled jet is now targeted by Boeing to mid-2020. The company is attempting to cover costs connected to the MAX crisis by raising at least $10 billion from Wall Street banks. "...we are currently estimating that the ungrounding of the 737 MAX will begin during mid-2020," the company stated. Earlier, the Federal Aviation Administration(FAA) had publicly criticised Boeing for touting its aggressive timeframe for the MAX's return, suggesting the target was a tool to pressure the agency into approving quickly. An FAA spokesman reiterated that it has not set any timeframes for the MAX's certification. "We continue to work with other safety regulators to review Boeing's work as the company conducts the required safety assessments and addresses all issues that arise during testing," the FAA added. [ Grounded Boeing 737 MAX aircraft are seen parked in an aerial photo (Courtesy: Reuters) ] Also Read: Boeing papers: Would you put your family on a 737 MAX? - First flight - The 777X was earlier announced to be undertaking its first flight on Thursday, but it was delayed for different reasons. The trial run is now scheduled on Thursday at 1800 hours GMT, but Boeing stated that "flight testing is dynamic, and the date could change due to weather and other factors," The 777X flight had initially been planned for summer 2019 but was shifted back due to a variety of issues, including a new engine built by General Electric. There have been 340 orders for the 777X, mostly from giants such as Emirates, Lufthansa, Cathay Pacific, Singapore Airlines, Qatar Airways, etc. After years of design and testing, it’s almost time to fly. The #777X will make its first flight as early as January 23, subject to weather and other factors. Learn more about the airplane: https://t.co/M5gH0ZMlCc pic.twitter.com/KRsZdDKA8q — Boeing Airplanes (@BoeingAirplanes) January 21, 2020 × If all goes well, Boeing will submit documents to the FAA as part of the formal certification process - including a test fight. Boeing is hinting at early 2021 for the first of many commercial deliveries of the plane, months later than the mid-2020 timeframe. Development of the long-range aircraft hit a snag in September when the fuselage of the plant split during a stress test. Development of the long-range aircraft, which can carry between 384 and 426 passengers, hit a snag in September when the fuselage of the plane split during a stress test. - MAX costs keep rising - Meanwhile, costs for the MAX keep swelling and Boeing is seeking $10 billion to deal with it, based on company disc. They are currently at $9.2 million based on company disclosures, but the number is expected to rise when the company reports earnings later this month. Boeing's MAX bill includes paying out legal settlements to victims, storing and maintaining hundreds of MAX planes that have been built but not delivered, compensating airlines for delayed deliveries, lost service on thousands of MAX flights and managing costs across the MAX program during the period before Boeing halted output completely. The company has, for now, received assurances of $6 billion in lending from leading banks such as JPMorgan Chase, Bank of America Merril Lynch, Citigroup and Wells Fargo. Last December, Mood's cut Boeing's debt rating after the company announced that it will halt production on the MAX and last week Moody's placed Boeing under review for another potential downgrade, citing continued uncertainty about the company's prospects following the production shutdown. This came after Boeing endorsed simulator training for MAX pilots, a move that could delay the commercial comeback of the planes.

Boeing delays return of 737 MAX planes until mid-2020

The <a href="https://www.wionews.com/world/boeing-recommends-737-max-simulator-training-before-return-to-service-272832">Federal Aviation Administration</a> (FAA) said on Friday it was seeking to&nbsp;fine&nbsp;Boeing&nbsp;Co&nbsp;$5.4&nbsp;million&nbsp;(£4.14&nbsp;million), alleging it failed to prevent the installation of&nbsp;defective&nbsp;parts&nbsp;on&nbsp;<a href="https://www.wionews.com/business-economy/faa-seeks-39-million-fine-from-boeing-for-defective-parts-on-737-ng-planes-266792">737&nbsp;MAX&nbsp;aeroplanes</a>.

The FAA alleged&nbsp;Boeing&nbsp;"failed to adequately oversee its suppliers to ensure they complied with the company's quality assurance system, Boeing&nbsp;knowingly submitted aircraft for final FAA airworthiness certification after determining that the&nbsp;parts&nbsp;could not be used due to a failed strength test."

The FAA proposed a $3.9&nbsp;million&nbsp;civil penalty against&nbsp;Boeing&nbsp;for the same issue in December involving 133&nbsp;737&nbsp;NG aeroplanes, which is the prior generation of the&nbsp;737.

The&nbsp;737&nbsp;MAX&nbsp;has been grounded since March after two fatal crashes killed 346 people.&nbsp;Boeing's safety record on a number of issues&nbsp;have come under scrutiny from lawmakers and the FAA.

Watch:&nbsp;The Downfall Of Boeing

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The&nbsp;parts&nbsp;issue is completely unrelated to the crashes,&nbsp;Boeing&nbsp;said.

The FAA disclosed in June that about 300 NG and&nbsp;<a href="https://www.wionews.com/world/we-prefer-to-download-black-boxes-iran-after-plane-crash-blamed-on-missile-273396">737&nbsp;MAX</a>&nbsp;aeroplanes&nbsp;could contain improperly manufactured&nbsp;parts&nbsp;and said it would require these&nbsp;parts&nbsp;to be quickly replaced.

The&nbsp;parts&nbsp;at issue are tracks on the leading edge of the wings used to guide the movement of slats that provide additional lift during takeoff and landing, the FAA said. The issue could result in a slat striking an aeroplane, potentially resulting in injury to passengers or preventing a safe landing.

The FAA said&nbsp;Boeing's oversight failure "resulted in the installation of slat tracks that were weakened by a condition known as hydrogen embrittlement that occurred during cadmium-titanium plating."

Boeing&nbsp;said Friday it was aware of the proposed penalty and said it has not seen any in-service issues&nbsp;with the&nbsp;parts, which are covered by a service bulletin and airworthiness directive.

"We will ensure that all inspections and any necessary part replacements are performed on all&nbsp;737&nbsp;MAXs before they return to service. We have not been informed of any in-service issues&nbsp;related to the slat tracks themselves,"&nbsp;Boeing&nbsp;said.

The Federal Aviation Administration (FAA) said on Friday it was seeking to fine Boeing Co $5.4 million (£4.14 million), alleging it failed to prevent the installation of defective parts on 737 MAX aeroplanes.

The Federal Aviation Administration (FAA) said on Friday it was seeking to fine Boeing Co $5.4 million (£4.14 million), alleging it failed to prevent the installation of defective parts on 737 MAX aeroplanes. The FAA alleged Boeing "failed to adequately oversee its suppliers to ensure they complied with the company's quality assurance system, Boeing knowingly submitted aircraft for final FAA airworthiness certification after determining that the parts could not be used due to a failed strength test." The FAA proposed a $3.9 million civil penalty against Boeing for the same issue in December involving 133 737 NG aeroplanes, which is the prior generation of the 737. The 737 MAX has been grounded since March after two fatal crashes killed 346 people. Boeing's safety record on a number of issues have come under scrutiny from lawmakers and the FAA. Watch: The Downfall Of Boeing × The parts issue is completely unrelated to the crashes, Boeing said. The FAA disclosed in June that about 300 NG and 737 MAX aeroplanes could contain improperly manufactured parts and said it would require these parts to be quickly replaced. The parts at issue are tracks on the leading edge of the wings used to guide the movement of slats that provide additional lift during takeoff and landing, the FAA said. The issue could result in a slat striking an aeroplane, potentially resulting in injury to passengers or preventing a safe landing. The FAA said Boeing's oversight failure "resulted in the installation of slat tracks that were weakened by a condition known as hydrogen embrittlement that occurred during cadmium-titanium plating." Boeing said Friday it was aware of the proposed penalty and said it has not seen any in-service issues with the parts, which are covered by a service bulletin and airworthiness directive. "We will ensure that all inspections and any necessary part replacements are performed on all 737 MAXs before they return to service. We have not been informed of any in-service issues related to the slat tracks themselves," Boeing said.

US regulator to fine Boeing $5.4 million for defective parts of 737 MAX planes

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Boeing delays return of 737 MAX planes until mid-2020

US regulator to fine Boeing $5.4 million for defective parts of 737 MAX planes