Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Jetmakers push freighters as industry gathers in Dubai

Stock MarketsNov 14, 2021 03:01AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
2/2 © Reuters. FILE PHOTO: The Boeing logo is displayed on a screen, at the New York Stock Exchange (NYSE) in New York, U.S., August 7, 2019. REUTERS/Brendan McDermid/File Photo 2/2

By Tim Hepher and Alexander Cornwell

DUBAI (Reuters) -Boeing said on Saturday it was in advanced talks to sell a cargo version of its future 777X jetliner jet while Airbus predicted an A350 freighter deal soon, as aerospace giants eye a post-pandemic boom in e-commerce.

Boeing (NYSE:BA) also indicated it was nearing the end of production snags on the 787 Dreamliner, but reiterated the timing of any return to normal deliveries depended on talks with regulators.

"We are in pretty advanced discussions with a number of customers. The (777X freighter) looks good from a design standpoint and a requirements standpoint," Ihssane Mounir, senior vice president of commercial sales and marketing, said.

The U.S. planemaker is poised to launch what it says would be the world's largest and most capable new freighter, while European rival Airbus is seeking buyers for an A350 cargo version that it describes as lighter and more efficient.

Airbus expects to announce a launch order for the A350 freighter "soon," Chief Commercial Officer Christian Scherer told a separate news conference on the eve of the Dubai Airshow, the first significant industry gathering since the pandemic.

"I am quite happy with the market response around the world and in the region to the A350 freighter," he added.

The 777X freighter is expected to be based on the smaller of two versions of the 777X family, known as the 777-8.

It had been expected to be launched only after the 777-8 passenger version, but Mounir said it could jump ahead of the 777-8, whose sales have lagged the main 777-9 variant.

Boeing is sticking to plans to deliver the 777-9 in 2023, Mounir said. The president of Dubai's Emirates, the biggest customer for the 777X, has sharply criticised Boeing for around three years of delays and a lack of certainty on delivery dates.

REGULATORS' CALL

Qatar Airways has said publicly it is in talks with Boeing over the possible purchase of a 777X freighter, while FedEx (NYSE:FDX) is widely seen as another early contender. Airbus hopes to land an A350 cargo deal with Singapore Airlines (OTC:SINGY).

Freighter traffic has increased as passenger jets that usually carry goods in the hold were grounded by the pandemic.

Mounir and Scherer, sales chiefs for the world's two largest planemakers, both said a market recovery was under way, though doubts remain over demand for the largest wide-body jetliners.

Boeing is meanwhile approaching the resumption of deliveries of its 787 Dreamliner, after suspending them to deal with production flaws, and engaging with Chinese regulators over the re-certification of the 737 MAX in China, Mounir said.

But he stressed that Boeing would not pre-empt U.S. or Chinese regulators, who make final decisions on timing.

The 787 has been beset by production problems that have halted deliveries since May. In July, the Federal Aviation Administration said some 787s had a manufacturing quality issue.

Analysts say Boeing continues to tread a fine line between completing work it says it has itself identified on the 787, a vital alternative source of cash to the still recovering 737 MAX, and leaving the last word on timing to regulators.

Boeing said last month it had a "clear line of sight" to resuming deliveries but that the Federal Aviation Administration would make the ultimate decision.

"We remain committed to taking the time to ensure each airplane meets our rigorous engineering specifications. We are conducting inspections and rework and engaging in detailed, transparent discussions with our regulators, customers and suppliers," Mounir told Reuters in an emailed statement.

"While we never want to disappoint or cause delays for our customers, quality and safety always come first."

The 737 MAX was cleared by major Western regulators late last year after an almost two-year safety grounding, but China has yet to allow it back to service.

China's aviation regulator has told airlines it is satisfied that design changes Boeing proposed for its 737 MAX plane could resolve safety problems, in a sign it is closer to lifting a more than two-year flight ban..

Mounir told reporters Boeing would comply with requirements from U.S. or international regulators.

Jetmakers push freighters as industry gathers in Dubai
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
William Bailey
William Bailey Nov 14, 2021 4:33AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
All hype
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email