Europe’s top aviation regulator said Boeing’s 737 Max aircraft could be able to return to flying in the region before the end of 2020 even as some of the additional upgrades the agency has asked for, will not be ready for two more years.
The state of Washington has since moved to repeal tax breaks that benefited Boeing, while Airbus has announced it will increase loan repayments for the A350 plane to France and Spain in bids to settle the matter.
The company doesn't have a set target at this time and was encouraging all eligible employees interested in the voluntary layoff package to apply
Director General of Civil Aviation Arun Kumar said they will talk to Boeing to examine the crashed Air India Express flight IX 1344's original equipment for defects.
The directive covers planes not operated for seven or more consecutive days. The FAA issued the directive after inspectors found compromised air check valves when bringing aircraft out of storage.
Boeing is behind on hundreds of 737 MAX deliveries since regulators grounded the jet worldwide in 2019 in the aftermath of two crashes.
Boeing was hoping the 787 Dreamliner could help it cope with the losses due to grounding of the Boeing 737 MAX after two plane crashes.
The 747 democratized global air travel in the 1970s but fell behind modern twin-engine passenger jets.
The flight control system, known as MCAS, was "not an area of emphasis" because Boeing presented it to the FAA as a modification of the jet's existing speed trim system, with limited range and use, according to the report.
The 737 MAX's certification test flights are a key moment in Boeing's worst-ever corporate crisis which has been compounded by the novel coronavirus pandemic.
Vistara has also preponed the returning of leased planes of erstwhile Jet Airways from the earlier schedule of phasing them out by 2022-23, the source said, adding that airlines globally reworking and strategising their business plans, including fleet and network plans.
The disruption has forced Aequs, which manufactures components for Airbus and Boeing, to cut production by up to 40 percent
The aircraft maker's best-selling plane was grounded in March 2019 after the second fatal 737 MAX crash in five months. Boeing declined to say what the current production rate is.
Boeing also disclosed it plans "several thousand remaining layoffs" in coming months but did not say where those would take place.
The layoffs are expected to be concentrated in the Seattle area, home to Boeing's commercial-airplanes business.
A spokesman for the Society of Professional Engineering Employees in Aerospace (SPEEA) union that represents 17,600 Boeing employees told Reuters Tuesday the company informed the union it should expect layoff notices on Friday.
Boeing Co is expected to announce US job cuts this week after disclosing last month it planned to shed 10% of its worldwide workforce of 160,000 employees
The $300 billion Public Investment Fund (PIF) has been buying minority stakes in companies across the world, taking advantage of market weakness in the wake of the coronavirus outbreak.
The United States told the World Trade Organization on Wednesday there was "no valid basis" for the European Union to retaliate against US goods
Two weeks ago, Europe's biggest budget airline said it could make bumper profits in 2021 and had no plans to defer jet orders.
The U.S. central bank has slashed interest rates to zero and rolled out around $2 trillion in lending commitments. While it has not yet snapped up any corporate bonds such as Boeing's, its openness to doing so has buoyed credit markets.
The preparations reflect Boeing's confidence that it can tap the capital markets to strengthen its finances, even as the largest US planemaker weighs seeking government aid.
"Our first priority is going to be to pay that back, the principle and the interest that goes with it."
The potential job cuts are expected to largely target Boeing's commercial arm, the report added.
Boeing, which calls itself America's largest exporter, has some 150,000 employees worldwide, nearly half of whom are clustered around marquee factories in Seattle's Puget Sound region.