Boeing lost $3.7 billion in the second quarter because of the 737 Max crisis

Boeing reported a $3.7 billion loss in the second quarter because of the grounding of the 737 Max, its bestselling jet.

The company had already warned investors that it would take a $5 billion profit hit from its inability to deliver the 737 Max its customers.

Boeing has continued to build the plane, although at a slower pace, and that has increased the cost of production by about $1.7 billion. The plane has been grounded since mid-March because of two fatal crashed that killed more than 300 people.