Tuesday, 18 February, 2020

International Business: Boeing deliveries almost halved in first nine months of 2019

Southwest Pilots Sue Boeing Over Alleged Lost Wages From MAX Grounding International Business: Boeing deliveries almost halved in first nine months of 2019
Deanna Wagner | 09 October, 2019, 14:09

Regulators grounded the 737 MAX worldwide following a second fatal crash in March that killed all 157 people on board an Ethiopian Airlines plane, and is fighting to get the jet back in service later this year.

An unnamed private jet company made the purchase of the Max, the first since the plane was sidelined following two deadly crashes. That blockbuster agreement hasn't yet been consummated, leaving net sales for the Max at negative 184 for the year, according to company data.

Over the first nine months of the year, Boeing delivered 302 airplanes, compared with 571 by Airbus.

European air safety regulators have told their U.S. counterpart they wants more testing on fixes to the troubled 737 Max flight-control systems before the plane is cleared to re-enter service.

Southwest, with around 10,000 pilots represented by SWAPA, had 41 more MAX jets on order for this year alone. The plane usually are flown from the manufacturing facility to an inside ending heart, the place they're outfitted with custom-designed lounges, convention rooms, grasp bedrooms and even showers for patrons starting from enterprise tycoons to heads of state.

Dick's Sporting Goods destroyed $5 million worth of AR-15s
Just a day before that shooting, a gunman opened fire at a Walmart in El Paso, Texas, killing 22 people and injuring 24 others. Walmart said at the time that the company will also stop selling handguns in Alaska, the only state where it sells them.

The 737 Max is Boeing's best-selling aircraft by a wide margin.

Shares of Boeing fell 1.8% to $369.77 in midday trading. The stock's 12-month consensus price target is $412.33.

In the third quarter, Boeing delivered 63 jetliners, down from 190 jet shipments a year earlier.

Southwest has taken the plane off its schedule through January 5, longer than competitors American and United, because it didn't want to have to make last-minute flight changes during the busy holiday travel season if the grounding doesn't lift by the end of the year as Boeing executives have said is the plan.

Boeing has netted 52 orders for its carbon-composite Dreamliner this 12 months, up to now. The Chicago-based company will need to match that tally next year to avoid a steep cut in output from the record pace the company adopted as crisis engulfed the Max. The Dreamliner has about 50 unfilled production slots starting in 2022, Bernstein analyst Harned said in a report. In the most recent quarter, Boeing reported its largest loss ever - a $3.7 billion adjusted loss - as a result of the grounding. However the alternative alternatives aren't adequate to take care of manufacturing at that tempo, Harned mentioned. Boeing could also offer discounts on the popular 787 to compensate Max customers for the disruption from the global flying ban. For one of the best reviews & opinion on politics, governance and extra, subscribe to LiiStudio on Telegram.