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Boeing hopes to see the end of the tunnel - Companies

Boeing hopes to see the end of the tunnel – Companies

From the accidents of the 737 MAX to the misadventures of its jumbo jets, Boeing is struggling to emerge from the most serious crisis in its history. On the first day of the Farnborough Air Show (United Kingdom) on Monday, the American giant sought to make an impression by signing large contracts.

The American company Delta first placed a firm order for one hundred models of the 737 MAX 10, Boeing’s medium-haul aircraft, which represents an amount of 13.5 billion dollars at the list price. The agreement also provides an option for the purchase of thirty additional aircraft. The Japanese carrier ANA has confirmed the acquisition of twenty MAX 8s (2.4 billion dollars at list price) with an option for ten more aircraft as well as that of two long-haul 777-8s for air freight.

The setbacks of the MAX, more than a bad memory?

Thanks to these orders, Boeing intends to prove that the setbacks of the MAX are behind him. The aircraft was grounded for 20 months, from March 2019 to December 2020, after two fatal crashes. “The most difficult of our crises is being managed effectively. It’s not over”, but the manufacturer is putting its MAX planes back “into service for (its) customers”, said Boeing CEO Dave Calhoun in an interview with FT published on Monday.

Since the return to the skies of the MAX, Boeing has tried to make amends with the American authorities and regulators, partially acknowledging its responsibility in the accidents and paying several billion dollars to settle the lawsuits. “On the MAX, we have passed the course”, sums up Michel Merluzeau of the specialized firm AIR, who nevertheless believes that “there are still a lot of questions to be resolved on the supplier side”, linked to the problems of the global supply chain. , staff shortages and the Ukrainian crisis. These disruptions could weigh on the increase in Boeing’s production rates. “We will be limited by supply problems for a while,” acknowledged Stan Deal, president of Boeing’s commercial division, on Sunday.

The fate of the MAX 10, the largest and most recent medium-haul version, is in the hands of the US Congress, which must decide by the end of December whether or not to grant an exemption to a law imposing new standards for the crew alerting system. Dave Calhoun hinted in a recent interview with Aviation Week that the company may forfeit the MAX 10 if it doesn’t get a waiver or isn’t certified by the end of the year. A lack of certification would imply additional training for pilots, making the model more expensive for companies, which could turn away from it.

Fading Health

In the widebody market, most deliveries of the 787 Dreamliner have been frozen since manufacturing defects were discovered in the summer of 2020. As for the future version of the 777, the 777X, its certification has again been pushed back to 2025 to meet regulatory requirements. “When you’re not producing, it’s hard to get orders,” Stan Deal said of the 787. With 51 planes delivered in June (including 43 MAX), Boeing still had its best month since March 2019. Not yet recovered from the pandemic and their own torments, the group is in failing health. He accumulated charges in the first quarter (war in Ukraine, renegotiation of the Air Force One presidential plane contract, etc.) and his debt amounted to nearly $58 billion at the end of March.

No existential risk

“Financially, the company is not at an existential risk,” reassures Michel Merluzeau, who believes that certain programs, particularly in the defense sector, will be profitable in the long term. This is, according to the expert, the case of the KC-46 military tanker or the MQ-25, future US Navy tanker drone. Boeing also has ambitions in the conquest of space. Its Starliner capsule, which is to transport NASA astronauts to the International Space Station, passed a key test at the end of May after many adventures, but faces Starlink, Elon Musk’s company. There remains the question of the launch of a new model to fill the market segment between the MAX and the 787 and compete with the Airbus A321, in particular its very long range version.

Dave Calhoun buried an NMA (New Midsize Aircraft) project in early 2020, but many observers believe that Boeing could relaunch it or risk giving up too much market share to its European competitor.

The American company Delta first placed a firm order for one hundred models of the 737 MAX 10, Boeing’s medium-haul aircraft, which represents an amount of 13.5 billion dollars at the list price. The agreement also provides an option for the purchase of thirty additional aircraft. The Japanese carrier ANA has confirmed the acquisition of twenty MAX 8s (2.4 billion dollars at list price) with an option for ten more aircraft as well as that of two long-haul 777-8s for air freight. Thanks to these orders, Boeing intends to prove that the setbacks of the MAX are behind him. The aircraft was grounded for 20 months, from March 2019 to December 2020, after two fatal crashes. “The most difficult of our crises is being managed effectively. It’s not over”, but the manufacturer is putting its MAX planes back “into service for (its) customers”, said Boeing CEO Dave Calhoun in an interview with FT published on Monday. Since the return to the skies of the MAX, Boeing has tried to make amends with the American authorities and regulators, partially acknowledging its responsibility in the accidents and paying several billion dollars to settle the lawsuits. “On the MAX, we have passed the course”, sums up Michel Merluzeau of the specialized firm AIR, who nevertheless believes that “there are still a lot of questions to be resolved on the supplier side”, linked to the problems of the global supply chain. , staff shortages and the Ukrainian crisis. These disruptions could weigh on the increase in Boeing’s production rates. “We will be limited by supply issues for a while,” Boeing Commercial Division President Stan Deal said on Sunday. him, in the hands of the US Congress, which must decide by the end of December whether or not to grant an exemption to a law imposing new standards for the crew alert system. Dave Calhoun hinted in a recent interview with Aviation Week that the company may forfeit the MAX 10 if it doesn’t get a waiver or isn’t certified by the end of the year. A lack of certification would imply additional training for pilots, making the model more expensive for companies, which could turn away from it. In the wide-body market, most deliveries of the 787 Dreamliner have been frozen since manufacturing defects were discovered in the summer of 2020. As for the future version of the 777, the 777X, its certification has again been postponed to 2025 to meet regulatory requirements. “When you’re not producing, it’s hard to get orders,” Stan Deal said of the 787. With 51 planes delivered in June (including 43 MAX), Boeing still had its best month since March 2019. Not yet recovered from the pandemic and their own torments, the group is in failing health. It accumulated charges in the first quarter (war in Ukraine, renegotiation of the Air Force One presidential plane contract, etc.) and its debt at the end of March amounted to nearly 58 billion dollars. “Financially, the company is not at an existential risk”, reassures Michel Merluzeau, who believes that certain programs, particularly in the defense sector, will be profitable in the long term. This is, according to the expert, the case of the KC-46 military tanker or the MQ-25, future US Navy tanker drone. Boeing also has ambitions in the conquest of space. Its Starliner capsule, which is to transport NASA astronauts to the International Space Station, passed a key test at the end of May after many adventures, but faces Starlink, Elon Musk’s company. There remains the question of the launch of a new model to fill the market segment between the MAX and the 787 and to compete with the Airbus A321, in particular its version with a very long range.Dave Calhoun buried at the beginning of 2020 a NMA (New Midsize Aircraft) project but many observers believe that Boeing could relaunch it or risk giving up too much market share to its European competitor.

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