FRIDAY, 5 JUN 2020

 

CONNECT

Facebook Linked In Twitter
Astro_Bank_Event_26/05-04/06_728x90px
GloriaJeans_266x90px
IMH LTD

Zeta Emilianidou Outlines Measures To Support Employment, Workers And Vulnerable Groups

Cyprus Government: €700 Mn To Counteract Coronavirus Repercussions

IMH LTD
GAP_Group_2019_468x60px

INTERNATIONAL

brought to you by CIPA

Airbus On Course to Overtake Boeing as Biggest Planemaker

Airbus On Course to Overtake Boeing as Biggest Planemaker

European firm has edge after US rival reports slump in deliveries after two fatal crashes, The Guardian reports.

Airbus is on track to overtake Boeing as the world’s biggest planemaker as the US company reported a slump in deliveries of new commercial jet airliner deliveries after two fatal crashes involving the 737 Max.

Boeing, which has led its European rival since 2012, is struggling after safety regulators worldwide grounded its best-selling 737 Max following the Ethiopian Airlines and Lion Air disasters that killed 346 people.

Boeing reported 239 commercial plane deliveries in the first half of the year, a 37% fall from 378 in the same period last year, highlighting the extent to which the crashes have damaged its reputation in the market.

Rival Airbus has reported 389 deliveries in the first half, up 28% on the same period last year, and is on track to deliver a record number of planes this year, overtaking Boeing for the first time in seven years.

Before the crash, Boeing was delivering planes at a rate of 50 a month in the first quarter. Output has since slumped to only 30 a month in the second quarter. Boeing halted deliveries of the top-selling plane since it was grounded in mid-March.

There are more than 150 undelivered Max planes parked at sites around the US as well as 380 owned by airlines that remain grounded. June was the third month running that Boeing booked no new orders of its Max aircraft. Air regulators are not expected to clear the model to fly again before the end of September as the company continues to work on fixing the aircraft’s flight-control systems.

Airbus has been ramping up the pressure on Boeing by pushing its best-selling A320neo, a direct rival to the Max, and publicly announcing an increase in production.

This week Boeing lost a provisional deal for 50 737 Max planes from flyadeal, the budget arm of Saudi Arabian Airlines, which instead ordered the Airbus rival. The deal, with a value of more than $5.5bn (£4.4bn), is one of the first direct signs that the Max crashes have resulted in business shifting to Boeing’s rival.

However, last month at the Paris air show Boeing was given a shot in the arm when International Airlines Group, the parent of British Airways, signed a “letter of intent” to buy 200 Boeing 737 Max aircraft in the first new sales deal for the passenger jet since it was grounded. The IAG order is yet to be officially booked by Boeing.

MORE ON INTERNATIONAL

India-EU Trade In Goods: €1.4 Billion Deficit In 2019

India was the EU's 10th largest partner for imports (2% of total extra-EU imports) ...

COVID-19: A Breakdown Of The Respiratory Disease Caused By The New Coronavirus

COVID-19, the respiratory disease caused by the new coronavirus, has spread to every ...

Most Europeans Would Support Permanent Ban On Short-Distance Flights, EU Survey Reveals

A Europe-wide poll on attitudes to flying and climate change has revealed a large ...

FROM AROUND GOLDNEWS

   

Optimising Productivity After Resuming Construction Works At Pafilia

Pafilia Property Developers has resumed construction work on all of its projects following the government's opening of construction sites. Despite the new ...
   

Minthis Restaurant Reopened To The Public

The Restaurant at Minthis reopened to the public from Monday, June 1. The restaurant is within the contemporary Clubhouse at the Aphrodite Hills resort, ...
   

SAP Business ByDesign: A Time-Tested Solution for Fast-Growing Businesses in Cyprus

A business does not have to be big, to be ‘smart’ - regardless of  size, type and sector, every business can utilize ‘smart’ ...
   

Consulco: Ranked as a Top Tier Performer in London Real Estate by Morgan Stanley

Following the recent assessment by Morgan Stanley Capital International, Consulco ranked 15th amongst the 160 competitors that specialise in retail ...
   

Insignia Launches First Ever Clean Payment Card

Perhaps the most unavoidable form of germ transmission occurs through the ordinary use of money and credit cards. Despite the increase in electronic ...
   

A New Global Methodology To Define Cities And Rural Areas

Have you ever asked yourself how Sustainable Development Goal indicators on sustainable cities and communities can be compared if countries across the world ...
   

Cyprus Government: €700 Mn To Counteract Coronavirus Repercussions

Cyprus announced a financial support package of € 700m, equivalent to 3% of the GDP which includes a series of measures, covering health, finance and ...
   

Zeta Emilianidou Outlines Measures To Support Employment, Workers And Vulnerable Groups

Measures to support employment, workers and vulnerable groups of the population  from the effects of the coronavirus protection measures, which are ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Limassol_Business_Summit_10/03-23/06_300x250px
Gold_Digital_Edition_300x250px

IMH LTD