Economy 16:05 10/04/2019 World

Boeing records zero new MAX orders following global groundings

Boeing Co’s orders and deliveries sank in the first quarter, with zero new orders for the 737 MAX following a worldwide grounding in March in the wake of two fatal plane crashes, Reuters reports.

The groundings forced Boeing to freeze deliveries of the MAX, which had been its fastest-selling jetliner until a March 10 crash on Ethiopian Airlines that killed all 157 onboard, just five months after a similar crash on Lion Air that killed all 189 passengers and crew.

Total orders, an indication of future demand, fell to 95 aircraft in the first quarter from 180 a year earlier, suggesting a wait-and-watch approach for airlines as Boeing rides out the worst crisis in its history.

Still, Boeing is ahead of its European rival Airbus, which last week said it had won 62 gross orders during the first three months of 2019 but some 120 cancellations left it with a negative net order.

Chicago-based Boeing’s first-quarter 737 deliveries tumbled about 33 percent, pushing total aircraft deliveries down 19 percent to 149 from a year earlier. Boeing delivered just 11 MAX in March before the suspension.

Deliveries are financially important because that is when planemakers receive the bulk of money from airlines’ purchases.

It is still unclear when the MAX jets will fly again, with global regulators including China saying they would join a U.S. Federal Aviation Administration panel to review the aircraft’s safety.

“A fix and removal of the grounding prior to September 2019 could be perceived positively,” Jefferies analyst Sheila Kahyaoglu said, noting that fresh scrutiny of the certification process could potentially filter into Boeing’s 777X program.

Boeing’s shares, which have lost about 13% since the crash, were down 1.66 percent at $368.32 in afternoon trading.

Goldman Sachs said it does not expect Boeing to deliver any MAXs in the second quarter and said it was difficult to expect MAX orders at the upcoming Paris Air Show in June.

The latest variant of Boeing’s 737 family, which makes up the bulk of its narrowbody production, has been viewed as the likely workhorse for global airlines for decades and central to Boeing’s long-running battle against Airbus.

Boeing said last week it would cut monthly 737 MAX production by 20 percent starting mid-April, without giving an end-date.

The company had been ramping up MAX deliveries before the grounding, with the planes accounting for nearly half of its deliveries in the last few months.

There were more than 300 MAX jetliners in operation at the time of the fatal Lion Air crash last October, and about 4,600 more on order.



Source Panorama.am
Share |

Related news

Տեքստում սխալ կամ վրիպակ նկատելու դեպքում, ուղարկեք խմբագրին հաղորդագրություն` նշելով տվյալ սխալը, այնուհետև սեղմելով Ctrl-Enter:

Newsfeed

12:00
Lucas Zelarayán returns to Belgrano
Belgrano de Córdoba has officially announced the return of Lucas Zelarayán after weeks of uncertainty, during which the club...
11:45
Fog hits Armenian town
The Rescue Service has warned drivers of a road closure in Armenia as of  Thursday morning. In particular, the road...
11:33
Hobart International: Elina Avanesyan through to semifinals
Armenian Elina Avanesyan, the No 6 seed, advanced to the last four of the Hobart International after American Amanda Anisimova, the No 3 seed,...
11:22
Armenian school destroyed in California wildfires
As the windstorm wreaking havoc across Los Angeles County continues to rage, its devastating impact has left thousands homeless, evacuated,...
17:07
Screen Actors Guild Awards cancel live nominations due to Los Angeles wildfires
The Screen Actors Guild Awards (SAG) nominations have cancelled an in-person announcement planned for today due to devastating wildfires and...
16:53
Ex-ombudsman urges escape from Armenian government's 'propaganda trap'
Former Armenian Ombudsman Arman Tatoyan has warned of existential threats facing Armenia following Azerbaijani President Ilham Aliyev’s...
16:11
Iran's top security official to visit Armenia after Azerbaijan tour
The secretary of Iran’s Supreme National Security Council (SNSC) has arrived in the Azerbaijani capital, Baku, for political and security...
15:33
Aliyev, an aggressor, demands human behavior from others
Azerbaijani President Ilham Aliyev seems to be rapidly "thriving" in his rhetoric. His brazen comments, especially after the...
14:34
Human metapneumovirus causes relatively mild symptoms, WHO says
“Amid reports of rising wintertime respiratory infections in China – including human metapneumovirus – and the impact on...
14:07
Armenian deputy sports minister resigns
Armenia’s Minister of Education, Science, Culture and Sports Zhanna Andreasyan on Wednesday confirmed the resignation of her deputy,...
13:30
Pashinyan responds to Aliyev
Armenian Prime Minister Nikol Pashinyan responded to the latest statements by Azerbaijani President Ilham Aliyev in an interview with...
13:16
Meta ends fact-checking on Facebook, Instagram
Meta CEO Mark Zuckerberg said Tuesday the social media giant was rolling back the use of third-party fact-checkers on its platforms, starting...
13:05
Armenian, Azeri border commissions to hold fresh talks soon
The Armenian and Azerbaijani border delimitation commissions, led by the deputy prime ministers of the two countries, will hold a new round of...
12:36
Aliyev's threats against Armenia should serve as a 'wake-up call', politician warns
Opposition politician Eduard Sharmazanov has warned that Azerbaijani President Ilham Aliyev’s fresh threats against Armenia should serve...
12:05
Hobart International: Elina Avanesyan advances to quarterfinals
Armenian Elina Avanesyan, the No 6 seed, defeated Belgian qualifier Greet Minnen 6-2, 6-2 to move into the quarterfinals of the WTA...
11:30
Rescuers in Armenia free 4 stranded vehicles in one day
The crisis management centers of Kotayk and Aragatsotn Provinces received reports of vehicles trapped on several roads in Armenia over the past...
11:20
Lladro produces 'Karabagh Horse' porcelain figurines as propaganda for Azerbaijan
By Harut Sassounian www.TheCaliforniaCourier.com Regrettably, the only things that matter in this world are money and power. All the...
11:11
Trump says meeting with Putin possible after inauguration
U.S. President-elect Donald Trump has said again that he is eager to see negotiations with Russia on ending the war in Ukraine begin soon after...
17:00
Winter military draft kicks off in Armenia
The winter conscription for compulsory military service commenced in Armenia on Tuesday. A solemn ceremony was held at the Sardarapat...
16:30
New Armenian envoy hands over credentials to Iranian president
Armenian Ambassador to Iran Grigor Hakobyan on Tuesday presented his credentials to Iranian President Masoud Pezeshkian, the...
16:04
Specialist names acute respiratory infections prevalent in Armenia
Armenia is currently experiencing moderate activity related to acute respiratory infections, according to Romella Abovyan, head of the...
15:30
Jennifer Lopez and Ben Affleck finalize divorce
Ben Affleck and Jennifer Lopez are officially divorced, according to court documents obtained by PEOPLE. The judgment comes nearly 20 weeks...
15:00
ICRC staff visits Artsakh leaders illegally held in Baku
Employees of the International Committee of the Red Cross (ICRC) visited Artsakh's military and political leaders illegally detained in...
14:32
Armenia marks Remembrance Day of the Dead
On January 7, Armenia commemorates Merelots, the Remembrance Day of the Dead, which traditionally follows major religious holidays. The...
14:07
Temperatures to hit 17C in Armenia's Syunik
Dry weather is expected across Armenia’s regions throughout this week. Drivers are warned to watch out for black ice on some...
13:36
Armenian expert warns of rising tensions over 'Zangezur Corridor' in 2025
Turkologist Varuzhan Geghamyan has reacted to Azerbaijan’s false reports about the so-called “Zangezur Corridor” through...
13:06
Heavy snow leaves 10 cars stranded in Armenia
On January 6-7, the crisis management centers of Vayots Dzor, Aragatsotn, Kotayk and Lori Provinces received reports of vehicles trapped on...
12:30
At least 53 killed as powerful earthquake hits Tibet
A strong earthquake killed at least 53 people in Tibet on Tuesday and left many others trapped as dozens of aftershocks shook the high-altitude...
12:14
Pashinyan names pick for new Penitentiary Service head
Prime Minister Nikol Pashinyan has named Tsovinar Tadevosyan as his pick for new head of the Penitentiary Service at the Armenian...
11:44
Armenian MP warns of 'turbulent developments reshaping the geopolitical landscape'
Armenian opposition MP Tigran Abrahamyan has warned of new “turbulent developments” that could significantly change the geopolitical...

Follow us and get updates!

Most popular articles

{"core.blocks.header.spell_message1":"Selected mistake: ","core.blocks.header.spell_message2":"Send a message about the mistake?"}