Boeing will tailor its compensation to airlines for the 737 MAX grounding around customer preference, and they could be paid back in services instead of cash, Chief Executive Dennis Muilenburg said on Wednesday (May 29). Several airlines have said they would seek compensation for the fact that they cannot use the 737 MAX 8 planes in their fleets. (AFP/Mark RALSTON) After two deadly crashes grounded the top-selling plane, Muilenburg acknowledged that the MAX crisis had shaken public confidence in the company and inconvenienced key customers, but the company is unlikely to take a big financial hit. "We know we've impacted the summer schedules for many of them, and it's difficult, it's painful," he said, speaking at a New York investor conference. "I don't see this as an additional material event for us, but it's something that's going to require individual attention customer by customer." Compensation could include tweaking plane delivery schedules, or offering additional … [Read more...] about 737 MAX compensation could include cash, services: Boeing CEO
Max financial services
Boeing employees in March 2019 build a 737 MAX in Washington State. (AFP/Jason Redmond) Daniel Elwell, acting head of the US Federal Aviation Administration, threw cold water on hopes of a speedy resolution, after revealing late on Wednesday that Boeing had held off submitting a proposed software fix for review after his agency raised additional questions. Investigators have focused on the MAX's anti-stall Manoeuvring Characteristics Augmentation System in inquiries into the crashes in Ethiopia in March and Indonesia in October which left 346 people dead. Boeing last week said the MCAS update was ready for the certification process, and US airlines were hoping the planes could be back in the skies in time for part of the summer travel season. But Elwell on Thursday said the process could take one month, two months or longer. "It is all determined by what we find in our analysis of the application," he said on CNBC. Once Boeing has submitted all documentation, the FAA will conduct a … [Read more...] about Regulators ponder: When can Boeing”s 737 MAX fly again?
NEW YORK — The US Federal Aviation Administration (FAA) announced Thursday it would meet with American commercial airlines that use the Boeing 737 MAX, which has been grounded worldwide since mid-March following two accidents that killed 346 people. The meeting, scheduled to take place on Friday in Washington, comes as Boeing faces intense scrutiny after 157 people died in an Ethiopian Airlines 737 MAX crash on March 10 -- the second deadly crash involving the aircraft in five months. "The purpose of this meeting is for the FAA to gather facts, information, and individual views to further understand their views as FAA decides what needs to be done before returning the aircraft to service," the agency said in a statement. Security representatives from American Airlines, Southwest and United will be at the meeting, as well as representatives from their pilot unions. American and Southwest use the 737 MAX 8, while United has 737 MAX 9 aircraft in its fleet. The FAA recently formed … [Read more...] about Boeing to meet with US airlines over 737 MAX
Boeing predicted in January that 2019 would be a record year for aircraft profits and deliveries thanks to the 737 MAX, an update of its best-selling model. But now, less than two months later, the manufacturer is going through one of the most serious crises in its history because of two crashes involving one version: the 737 MAX 8. The crash on Sunday of Ethiopian Airlines came after a fatal accident in October of a Lion Air MAX 8 that claimed 189 lives. What is the 737 MAX The 737 MAX, which debuted in May 2017, is Boeing's response to the Airbus A320 NEO, which allowed the European manufacturer to surpass Boeing in the medium-haul market. It has four variants -- MAX 7, 8, 9 and 10 -- distinguished by the number of passengers they can carry. The MAX 8 costs $ 121.6 million at list price and last year made up a third of Boeing's profits. By the end of January, 4,661 of the planes had been ordered, representing approximately 80 percent of the company's orders. The manufacturer produces … [Read more...] about Boeing facing serious consequences over 737 MAX
Viet Nam News Oxfam, an international organistion of non-governmental agencies and partners working to end poverty, predicts that Việt Nam is at risk of not achieving certain guidelines set by the United Nations Sustainable Development Goals. Inequalities in income, opportunity, and voice are spiraling out of control, which has a negative impact on the country’s efforts to alleviate poverty and develop a fair and equal economy. Foreign and Vietnamese experts talk to Việt Nam News reporter Khánh Dương about the gap between the rich and the poor in Việt Nam and recommendations for this concerning problem. Max Lawson. — Photo courtesy of Oxfam Inequality in Việt Nam is growing and the rich are major beneficiaries of economic growth policies. What is your assessment on inequalities in Việt Nam? Max Lawson, head of policy department, Oxfam International: Inequality is a problem and it is growing … [Read more...] about Equal access to public services shortens gap between the rich and the poor