Boeing wins massive 737 Max order, 3 months after global grounding

View of the Airbus static display during the International Paris Air Show
Credit
AFP

View of the Airbus static display during the International Paris Air Show Credit AFP

Boeing in particular is suffering after the grounding of its MAX 737 aircraft in March following two deadly crashes.

It was not immediately clear how numerous 200 aircraft eyed by IAG would wind up as firm orders and how many would be options, nor how it would affect Airbus's presence at IAG, which placed an order for 14 A321XLR hours before the announcement.

The figure was not disclosed but large aviation orders are often negotiated to less than half of list price. Another 737 Max crashed in Indonesia past year.

At the Paris Air Show on Monday, Boeing said sorry for the loss of life in the MAX accidents. Walsh has opted to give the aircraft a vote of confidence at a moment following two deadly crashes when it not only can not fly, but is still subject to safety investigations and reviews that have shaken public confidence in Boeing.

Airbus announced several orders Monday as the air show kicked off, while Boeing had an anemic day as it works to win back trust from customers.

The companies signed a letter of intent for the purchase, the first since the 737 Maxs were grounded in March after two crashed within six months, killing 346 people.

Qantas unveils Frequent Flyer overhaul
On the plus side, the number of points required for worldwide economy Classic Reward seats have decreased by up to 10 per cent. But more points will be needed soon to get business class seats "to better reflect the value of this premium experience".

While IAG has a number of long haul Boeing aircraft, it has typically favoured the Airbus A320 for short-haul operations.

Boeing couldn't have asked for a stronger vote of confidence in its embattled 737 MAX program than a 200-aircraft order on Day 2 of the Paris Air Show from International Airlines Group (IAG), the parent company of Aer Lingus, British Airways, Iberia, LEVEL and Vueling However, conflicting statements took some of the gloss of the announcement, writes John Walton from Le Bourget.

The company's CEO Dennis Muilenburg admitted to CNBC that the 2019 air show would not be about orders, but instead be an opportunity for Boeing to reassure customers and suppliers that Boeing is making progress.

Right after the launch, the Los Angeles-based Air Lease Corporation signed a letter of intent to buy 27 of the new Airbus planes. The real value of the planes after standard discounts in the industry, according to data from aircraft valuation firm Avitas, is about $11 billion. The airline will also lease an additional 10 787-10s from Air Lease Corp.

Carey said a MCAS software fix developed by Boeing has made "significant positive changes". The order is worth about $6.3 billion and quadruples its 787 fleet to 40. Just earlier today IAG picked the Airbus A321XLR for Aer Lingus and Iberia. Delta was the US launch customer for the plane and has previously placed orders for 90 of the A220-100s and A220-300s.

Qantas Airways orders 10 A321XLR worth an estimated $1.3 billion at list prices and will convert 26 planes from a prior order to the new model. It is the newest version of Boeing's best-selling plane, and was a direct response to Airbus' fuel-efficient A320neo. That result could mean that the market for the midsize plane is more in line with Airbus's lower estimate than with Boeing's higher one of around 4,000.

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