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Chairman Boeing's remarks alleviated my concerns about 737 troubles by Max



CNBC's Jim Cramer said on Tuesday that President Boeing's candid remarks about Squawk Box earlier had alleviated some of his concerns about the crash maker.

"A lot of my worries were allayed," said "Crazy Money," shortly after David Calhoun was interviewed by Boeing. "I felt better."

Boeing was under intense scrutiny after two of its 737 Max jet crashes crashed within five months of each other, leading to grounding of planes in mid-March Continued global grounding led to increased costs, accrued airline profits, ripples throughout the Boeing supply chain and even in the wider economy.

Company It also faces a criminal investigation and several other investigations into the certification of the aircraft and the Federal Aviation Administration's design, and relatives of the victims and pilots have also filed a lawsuit against Boeing.

However, Calhoun's statements helped revive the Cramer. "I am completely rooted for them and I believe they will overcome this.

Boeing shares were above 2% in afternoon trading on Tuesday.

Calhoun, a longtime Boeing board member and CEO of Blackstone, assured investors that a comprehensive review of the company's safety and transparency procedures would be carried out. He also defended CEO Dennis Mullenburg, who last week confronted difficult issues on the Capitol Hill. Calhoun, who inherited Mullenburg as chairman last month, said: "From our council's point of view, Dennis did everything right."

Dave Calhoun, chairman of Boeing.

Adam Jeffrey | CNBC

Dave Calhoun, Chairman of Boeing.

Adam Jeffrey | CNBC

Dave Calhoun, Chairman of Boeing.

Adam Jeffrey | CNBC

Boeing took a $ 4.9 billion tax levy in the second quarter to offset forced landing airlines, but the final amounts are unknown because regulators did not allow planes to resume flights. Even so, Calhoun said Boeing could handle the "fair number of settlements" it would likely pay.

"Every box is checked," Kramer said. "If after that interview you don't feel better with Boeing, I guess you just have it for Boeing."

Cramer was recently critical of the jet maker, which last month after a leak from a former test pilot expressing concern about the 737 Max, two years before the first deadly crash in October 2018

. there is, "Kramer said at the time.

– CNBC & # 39; s Leslie Josephs [19659019] contributed to this report.


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