(An American Airlines Boeing 737 Max 8 pulls into its gate after arriving at the Miami International Airport)[Getty/Kyodo]

NEW YORK - Boeing Co. said Monday it will suspend production of its 737 MAX jet starting in January amid lingering safety concerns following two fatal crashes involving the aircraft.

Noting that the U.S. manufacturer has about 400 737 MAX in storage due to the continued grounding of the model by aviation authorities, Boeing said, "We have decided to prioritize the delivery of stored aircraft and temporarily suspend production on the 737 program beginning next month."

Boeing said its decision to halt 737 MAX production is due partly to the extension of certification into 2020 and the uncertainty about the timing and conditions of return to service.

(A Lion Air passenger jet of the Boeing 737 MAX 8 series at Jakarta Airport)


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The suspension of 737 MAX production may impact the airline industry around the world, including ANA Holdings Inc. which plans to introduce 30 models of 737 MAX in fiscal 2021 and beyond.

A Lion Air 737 MAX passenger jet crashed off Indonesia last October, killing all 189 people on board. In March, an aircraft of the same type operated by Ethiopian Airlines crashed in Ethiopia, with all 157 people aboard killed.

It has been speculated that a malfunction of the automatic stall prevention system, which is designed to push down the nose of the aircraft when decelerating, is a possible cause of the two crashes.

The new model has been grounded globally and Boeing stopped delivery of the model in March.