We are confident in Boeing's commitment to returning the 737 MAX to service safely and as a long-term partner of Boeing, we will be working with them through this process, " he said. "And it was really unfortunate".
Disgruntled shareholders expressed concern over a 10 per cent drop in value of Boeing's share price following the grounding of the MAX after the March 10 crash of Ethiopian Airlines that killed all 157 passengers and crew on board.
"But the reason this industry is safe is that we never stop making safety improvements - we never claim that we have reached the end point".
Boeing has also said it will switch on the AOA sensor warning at no cost, and that all future Max aircraft will have a functional disagree alert. "I can tell you that both of these accidents weigh heavily on us as a company".
Muilenburg insisted that MCAS system "was designed per our standards" and followed proper certification procedures.
U.S. carriers such as American Airlines and Southwest Airlines are targeting August to resume flights on the 737 MAX in the expectation that Boeing will receive regulatory approval for its fix by that time. The carrier and pilots said they were led to believe the alert was always functional.
During today's meeting, Boeing shareholders voted down a proposal to remake the company's chairmanship as an independent position that would rule out Muilenburg's dual role as CEO and chairman.
With a focus on safety, quality and integrity, we hold ourselves to the highest standards in our work because the stakes couldn't be higher.
Theresa May sets deadline for Brexit compromise talks with Labour
Plaid Cymru leader Adam Price, whose party has called for a People's Vote, said that Labour had "managed a people's fudge". The decision is a setback for campaigners who had hoped to use the European elections as a springboard for change.
"As in most accidents, there are a chain of events that occurred", he said, referring to the Lion Air crash on October 29 and the March 10 crash of an Ethiopian Airlines Max.
Virgin Australia has reached an agreement with Boeing to restructure its Boeing 737 Max aircraft deliveries.
The device linked to the Boeing 737 Max software that has been scrutinized after two deadly crashes was previously flagged in more than 200 incident reports submitted to the Federal Aviation Administration, but Boeing did not flight test a scenario in which it malfunctioned, CNN has learned.
But Johnson, who is an engineer, said Boeing "really stubbed their toe" by allowing MCAS to rely on only one sensor, referring to the anti-stall system.
"After the Lion Air event, Southwest was notified by Boeing that the AOA disagree lights were inoperable without the optional AOA indicators on the MAX aircraft", a Southwest spokesman said on Tuesday. "However, the disagree alert was not operable on all airplanes because the feature was not activated as intended", Boeing said in a statement.
Boeing's second largest civilian client, the airline Flydubai, is considering ditching its contract for the procurement of 250 737 MAXs in favour of its rival, Airbus' A320 Neo, head of the company Sheikh Ahmed bin Saeed Al Maktoum said in an interview with the media outlet The National.
As part of a planned software update, Boeing will activate the alert on Max rolling out of its factory, and retrofit planes in the field for no additional charge, Boeing Chief Executive Officer Dennis Muilenburg said during a press conference Monday.