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Boeing Deliveries Falter as China Compounds 737 Max Woes
Livemint
·
1y ago
Medial
Boeing delivered 24 commercial jets in May, including 19 of its 737 family aircraft, as it faces parts shortages and increased scrutiny from China's regulators. While rival Airbus handed over 53 aircraft, Boeing's delivery total matched that of April, which was its lowest in over two years. The company expects to burn through about $8 billion in cash in the first half of the year and has seen its stock drop around 30% in 2021. Improving the quality of its aircraft and increasing deliveries are key challenges for Boeing.
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US-China trade war: Indian airlines may benefit from Boeing’s ‘unsold fleet’
Business Today
·
4m ago
Medial
The US-China trade war opens a window for Indian airlines like Air India Express and Akasa Air to benefit from Boeing's unsold fleet. As China avoids purchasing Boeing aircraft due to US tariffs, India could capitalize on nearly 100 idle Boeing 737 MAX jets China originally ordered. With Air India’s large order for Boeing aircraft, Indian carriers are positioned well to strengthen their fleets, potentially negotiating favorable deals with the manufacturer amid shifting global priorities.
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SpiceJet to operationalize 30 grounded planes, resume delivery talks with Boeing | Company Business News
Livemint
·
8m ago
Medial
SpiceJet plans to reactivate 30 grounded Boeing 737 MAX aircraft within 12-15 months and resume discussions with Boeing for pending deliveries. At their annual meeting, chairman Ajay Singh highlighted the need for more competition in India's dominated aviation market, aiming for 100 aircraft by 2026. Experts see this move as vital, potentially easing airfare and increasing flight frequency. SpiceJet recently raised funds to strengthen operations, promising future shareholder benefits as the airline rebuilds.
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Top US chipmakers, tech firms to attend Vietnam meeting as Biden visits
Economic Times
·
2y ago
Medial
Top U.S. semiconductor and digital companies, including Intel, GlobalFoundries, and Google, are expected to attend a business meeting in Hanoi as President Joe Biden visits Vietnam. The meeting aims to boost Vietnam's role in chipmaking, part of the U.S. strategy to reduce exposure to China-linked risks. Executives from Google, Intel, Amkor, Marvell, GlobalFoundries, and Boeing are expected attendees. The meeting will focus on semiconductors, and several companies on the list have already invested in Vietnam. Discussions may include AI collaboration, and Boeing may announce a deal involving 50 of its 737 MAX jets.
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From Dreamliner to nightmare: The warnings Boeing may have missed as Air India crash rekindles old fears
Economic Times
·
2m ago
Medial
Boeing has faced renewed scrutiny after an Air India Boeing 787-8 crash, sparking concerns over the company's internal safety practices. A Netflix documentary highlighted how Boeing allegedly ignored safety warnings amid pressures to meet production targets. Issues include cutting corners, defective systems like the MCAS, and ignoring whistleblower warnings. Despite Boeing's efforts to address these problems following earlier 737 Max crashes, questions remain about the effectiveness of their safety culture reforms.
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Inside Boeing’s struggle to make its best-selling plane again
Livemint
·
9m ago
Medial
Since ending a strike at its U.S. plane factories, Boeing has been slow to increase production of its 737 MAX jet. Safety inspectors have been scouring planes for missed flaws during the work stoppage, and workers have been renewing their safety licenses. This cautious approach has gained praise from regulators and airline CEOs, but some smaller suppliers are hesitant to staff up again, creating uncertainty in the supply chain. However, Boeing restarted MAX production last week and hopes to produce 15 to 20 jets this month.
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Ahmedabad plane crash may dent Boeing plane orders
Economic Times
·
3m ago
Medial
A recent crash involving an Air India Boeing 787-8 Dreamliner near Ahmedabad raises concerns about Boeing's production quality and safety, potentially affecting future aircraft orders. This incident comes amid existing scrutiny of Boeing, following previous accidents involving the 737 MAX and production controversies. The crash involved 242 passengers but details on survivors are limited. The probe into the cause could impact Boeing's relationships with airlines and its delivery schedules, posing challenges for the aviation giant.
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Once high-flying Boeing is now a corporate criminal
Livemint
·
1y ago
Medial
Boeing, once seen as a pioneer in American manufacturing, is now facing serious consequences for its fraudulent actions related to the deadly crashes of its 737 MAX jets. The company's downfall can be attributed to its embrace of industry trends such as mergers and acquisitions, outsourcing, and prioritizing short-term shareholder returns over long-term innovation. These strategies seemed beneficial at the time, boosting market value, but have ultimately harmed the company's reputation, market share, and safety standards. Boeing must prioritize safety, reevaluate its business model, and engage in self-reflection in order to rebuild trust and recover from these setbacks.
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Boeing agrees to buy Spirit Aero for over $4 billion in an all-stock deal, says report
Livemint
·
1y ago
Medial
Boeing has agreed to acquire Spirit AeroSystems for over $4 billion in an all-stock deal. The acquisition aims to help Boeing tackle ongoing safety concerns following the 737 MAX crises. Additionally, the deal will result in the breakup of Spirit, with some of its assets going to Airbus. The acquisition is subject to regulatory approvals. Boeing's decision to purchase Spirit comes after a series of safety and quality issues that have impacted Boeing's production line. The announcement of the deal is expected early this week.
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US FAA probes latest Southwest Airlines flight that posed safety issues
Livemint
·
1y ago
Medial
The Federal Aviation Administration (FAA) is investigating a recent incident involving a Southwest Airlines flight that flew at a dangerously low altitude over Tampa Bay, Florida. The Southwest Boeing 737 MAX aircraft dropped to as low as 175 feet, prompting an air traffic controller to divert the plane to Fort Lauderdale. This incident adds to a series of safety concerns surrounding Southwest Airlines, including an incident in April where a plane came close to the ocean off Hawaii. The FAA is also investigating other incidents involving low altitudes and runway concerns with Southwest flights.
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Akasa Air raises fresh capital from PremjiInvest, Ranjan Pai's Claypond
VCCircle
·
7m ago
Medial
Akasa Air is raising new capital from PremjiInvest, Ranjan Pai's Claypond, and 360 ONE funds, although terms remain undisclosed. The late Rakesh Jhunjhunwala's family, key backers of the airline, are contributing additional funds. Akasa, which operates a fleet of Boeing 737 MAX jets across 22 domestic and 5 international cities, aims to ensure sustainable growth and financial security. Despite regulatory issues, Akasa claimed a 4.6% market share in 2024, ranking third among Indian airlines.
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