Progress made in Boeing and Airbus output, says leasing giant
Boeing and Airbus have made progress in boosting aircraft manufacturing, but there is 'a way to go' to get a stable, predictable production cycle, the head of Irish aircraft leasing giant SMBC Aviation Capital said yesterday.
The world's third-largest aircraft lessor, which has over 250 planes on order with both manufacturers, also said tariffs could be a drag on that recovery and have the potential to delay production increases.
Boeing has faced a series of crises, but expects to stabilise 737 Max production over the coming weeks. Meanwhile, Airbus has reaffirmed its target for increased commercial deliveries this year despite a recent dip.
'I was actually there [at Boeing] a few weeks ago,' said SMBC CEO Peter Barrett.
I certainly felt that the corner was turned, and I don't say that lightly
"There's more to go, but I do think they are absolutely travelling in the right direction,' he said, adding that Airbus has also made progress.
Tariff war
As US president Donald Trump's tariff war and "America first" policies disrupt international relations, Mr Barrett said there was 'some caution' on transatlantic routes — but that SMBC's customers have said domestic US demand was resilient.
On Thursday, SMBC said it had booked a further $654m (€577.2m) from insurance settlements over the last year, bringing its total recoveries from claims to $1.41bn.
SMBC was one of six lessors that ended an Irish lawsuit against their insurers last month, and Mr Barrett said the majority of its litigation around the world was complete.
Reuters
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