Trump calls Boeing a ‘very disappointing company’ over 737 controversy

President Trump on Wednesday scolded Boeing as a “very disappointing company” after the airliner pushed back estimates for when it expects its 737 Max plane to be back in the air, causing its stock value to take a hit.

“Very disappointing company. This is one of the great companies of the world, let’s say as of a year ago, and then all of a sudden things happen,” Trump told CNBC in an interview from Davos, Switzerland.

“I am so disappointed in Boeing — had a tremendous impact,” he continued. “You know, when you talk about growth, it’s so big that some people say it’s more than a half a point of GDP [gross domestic product]. So Boeing — big, big disappointment to me. Big disappointment.”

Boeing has been grappling with the fallout of two fatal crashes involving its 737 Max planes, which have been grounded for nearly a year.

The company said in a statement on Tuesday that it estimates the 737 Max will be ungrounded “during mid-2020” based on “ongoing attempts to address known schedule risks and further developments that may arise in connection with the certification process.” The estimate is months later than originally expected.

Boeing also suspended production of the planes earlier this month, which CNBC reported cost airlines more than $1 billion in revenue.

The company has faced congressional scrutiny and public scorn as new details have emerged in recent months that there were concerns with certain features on the 737 Max. Former CEO Dennis Muilenburg resigned in December over the controversy.