Latest news with #Boeing737MAX
Business Recorder
11 hours ago
- Business
- Business Recorder
Saudi firms to place orders for dozens of Airbus jets, sources say
NEW DELHI: Saudi Arabia is set to place orders for billions of dollars of Airbus jets as the kingdom balances suppliers in its quest to match the aviation growth of Gulf neighbours, industry sources said. Leasing company AviLease, which placed an order for 30 Boeing 737 MAX jets during a visit to the region this month by U.S. President Donald Trump, could place a comparable order for Airbus A320neo jets at next month's Paris Airshow, they said. The fast-growing company, which aims to be one of the world's top lessors, is also potentially interested in Airbus A350 freighters, they added. Barring a problem in negotiations, startup airline Riyadh Air appears poised to select the Airbus A350 over Boeing's delayed 777X, they said. Saudi Arabia to invest $600bn, says White House as US, KSA sign $142bn defence deal The possible Riyadh Air A350 deal, which Bloomberg earlier reported could involve 50 jets, would also be announced at one of this year's trade shows. Airbus declined comment. AviLease was not immediately available. Riyadh Air reiterated it was studying an order for large wide-body planes. 'A decision will be made in the coming months,' a spokesperson added.
India Today
a day ago
- Business
- India Today
US asks judge to dismiss criminal case over Boeing 737 MAX crashes
The US Department of Justice has asked a judge to drop a criminal fraud charge against air industry giant Boeing, citing a settlement deal between the company and the government. This follows the fatal crashes of two Boeing 737 MAX planes that resulted in 346 Penalties and Compensation for VictimsAs reported by Reuters, part of the settlement involves Boeing consenting to a total $1.1 billion settlement. The terms include a criminal fine of $243.6 million and paying $444.5 million into a new fund created for families of the crash victims. The compensation will be divided equally amongst the families of both Even though it initially offered to plead guilty to fraud a year ago, Boeing will escape a felony conviction under the new deal. According to the Justice Department, the agreement closes a prolonged case but achieves this while holding the company accountable. The agreement seeks to "secure meaningful accountability, deliver substantial and immediate public benefits, and bring finality to a difficult and complex case whose outcome would otherwise be uncertain," the department wrote in its to Compliance and SafetyApart from the monetary sanctions, Boeing will spend more than $455 million to bolster its internal compliance, safety, and quality assurance programs. The action aims at averting future breakdowns that would threaten public safety or violate the rules. The company will be working under tight supervision to see that the improvements are properly settlement of the case has been controversial, particularly amongst safety campaigners and families of the victims, some of whom had been pushing for tougher legal penalties. Federal prosecutors, however, contend the deal meets the goal of being tough on Boeing financially and physically without exhausting everyone in an extended courtroom battle that would possibly fail to lead to a future is now contingent upon its capacity to restore public confidence and achieve increased safety and compliance requirements. Boeing's leadership has committed to learning from past mistakes and establishing reforms that place passenger safety on top of the agenda.(With Inputs from Reuters)Trending Reel
Reuters
2 days ago
- Business
- Reuters
Boeing aims to crank up 737 MAX production to 47 a month by year end, CEO says
May 29 (Reuters) - Boeing CEO Kelly Ortberg said on Thursday that he wants to crank 737 MAX production up from mid-30s a month now to 47 by the end of the year. Speaking at a Bernstein conference, he said that the company aims to increase production of its best-selling airplane to 42 a month "by midyear." Boeing 737 production currently is capped at 38 a month, a limit imposed by the U.S. Federal Aviation Administration in 2024 after a midair accident put the planemaker's safety and production quality program under new scrutiny. Ortberg also said that Chinese airlines are set to resume taking deliveries of Boeing aircraft in June. China had stopped deliveries in April in retaliation to tariffs imposed by President Donald Trump.
Reuters
3 days ago
- Business
- Reuters
GE Aerospace CEO sees supply chain improvements, despite tariff hit
May 28 (Reuters) - GE Aerospace's CEO said on Wednesday he is seeing supply chain improvements that will support a 15% to 20% increase in deliveries this year of jet engines used on popular narrowbody aircraft, after snags challenged deliveries in 2024. CEO Larry Culp also told the Bernstein Strategic Decisions conference that the engine maker pledged to be 'completely in sync' with customer Boeing (BA.N), opens new tab, as the U.S. planemaker gradually grows production of its strong-selling 737 MAX to a monthly rate of 38 and possibly above this year. GE Aerospace, however, is still expecting a hit of more than $500 million from tariffs due to a U.S.-led trade war.
Malaysia Sun
4 days ago
- Business
- Malaysia Sun
MALAYSIA-KUALA LUMPUR-CHINA-LI QIANG-ANWAR IBRAHIM-MEETING
WASHINGTON, D.C.: Families of some of the 346 people who died in two deadly Boeing 737 MAX crashes plan to oppose a proposed deal between...
