Boeing won a major vote of confidence at the Paris Airshow on Tuesday as British...
LE BOURGET, France - Boeing won a major vote of confidence at the Paris Airshow on Tuesday as British Airways owner IAG signed a letter of intent to buy 200 of its 737 MAX jets that have been grounded since March after two deadly crashes.
Airbus, the current supplier of IAG’s British Airways and Vueling brands, was stunned by the announcement which came months after it lost a major BA wide-body aircraft order to its U.S. rival. Industry sources said the European company had not been offered a chance to bid. Boeing is working on a fix to anti-stall software at the center of investigations into the crashes and hopes to get approval from regulators to get the jet back flying by the end of the year.
But the deal, covering a period at least four years away when some airlines are already hesitating to commit due to economic risks, will have come at what one experienced aircraft negotiator described as a “spectacular” price discount. But while the deal rescued Boeing’s fortunes inside the air show, safety experts stressed it remains unclear how and when regulators will allow the plane to fly. Walsh stressed it was up to up to the U.S. and global regulators to review the fix.
With airlines struggling to contend with overcapacity, slowing economies and geopolitical tensions, some analysts warn Airbus and Boeing could face a growing number of cancellations or deferrals from their bulging order books.
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