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Honeywell hasn’t seen an impact on its business from the Boeing 737 Max 8 crashes or the aircraft’s grounding, Chairman and CEO Darius Adamczyk told CNBC on Wednesday.
The technology and manufacturing company supplies mechanical systems and avionics for the airplanes, but not flight controls or flight management systems.
“We haven’t seen any impact on our business at all yet,” Adamczyk said on “Closing Bell.“
He said Honeywell is working closely with the National Transportation Safety Board and Boeing to find the root cause of the crashes.
“Anything that Honeywell can do to help Boeing, to help the NTSB is obviously, we’ll do. And that’s our No. 1 focus. But in terms of business slowing, we haven’t seen that. Not yet,” he added.
All Boeing 737 Max jets in the U.S. were grounded last week after the March 10 crash of Ethiopian Airlines Flight 302. All 157 people on board were killed. Five months earlier, a Lion Air Boeing 737 Max 8 crashed minutes after taking off from Jakarta, Indonesia, killing all 189 people on board.
Last week, French and Ethiopian investigators said data extracted from the black boxes of the Ethiopian Airlines jet showed “clear similarities” with the Lion Air flight. Investigators in the Indonesia crash have indicated the pilots struggled with an automated anti-stall system that Boeing added to the 737 Max planes.
Boeing CEO Dennis Muilenburg has said the company will maintain its “relentless commitment to making safe airplanes even safer.”
contributed to this report.