Boeing is delivering more planes, but it has a long way to go before it reaches the levels
seen three years ago. After years of market turmoil, Boeing and Airbus see brighter skies–and
bigger order backlogs–ahead. Both companies maintained confidence that demand for aircraft
would bounce back as the COVID-19 pandemic ebbed.
In today's video, we are going to talk about “BIG BOEING NEWS!” So without any further ado,
Let's begin. In gross numbers, Airbus secured 442 orders
between January and June, offset by 183 cancellations. Boeing projects demand 39,050 new commercial
aircraft, excluding regional jets, over the next two decades, according to its Current
Market Outlook, which it released Saturday. Boeing's swollen 787 inventory, amassed since
it halted deliveries nearly a year ago over structural flaws, has locked up desperately
needed cash and cut airline capacity. Resuming deliveries is also key to Boeing's plans for
step-by-step 787 production increases in the coming months - vital to propping up a supply
chain that has weathered successive crises. "Despite the unprecedented disruption over
the past two years, the aviation industry has shown incredible resilience in adapting
to the challenge," said Ihssane Mounir, Boeing's senior vice president of Commercial Sales
and Marketing. "The 2022 CMO draws upon our expertise forecasting market trends to demonstrate
the strong demand for new airplanes and related services in the coming decades, providing
a waypoint as the industry continues to navigate its recovery."
In March, 35 new units of the 737 MAX family were added to Boeing’s backlog. Deliveries,
meanwhile, reached 34 aircraft. Boeing’s big problem remains with wide-body aircraft:
it delivered only three freighters (two 767-300Fs to Fedex and one 777F to China Airlines) and
one KC-46 for the U.S. Air Force. The shipments of 737 totaled 103 compared with 50 in the
year-ago period, thus registering a growth of a solid 106% year over year.
The shipments of the 777 model totaled nine compared with eight in the previous year’s
second quarter. The delivery figure of 747 increased by a jet compared with the last
year’s figure. Boeing said it now expects delivery of the first 777-9 airplane to take
place in 2025. Dallas-based low-cost carrier Southwest Airlines
Co. (LUV) received four 737 Max jets last month, while Irish budget carrier Ryanair
Holdings plc (RYAOF) took ownership of four MAXs. Aviation leasing companies BOC Aviation
Limited and SMC Aviation Capital also each received four Max jets in May.
On the front of the order, German carrier Deutsche Lufthansa AG (DLAKY) placed a ticket
for seven 787 Dreamliners and seven 777-8F freighter jets, with the latter not expected
to roll off Boeing's production line until 2027. The FAA wants Boeing to ensure it has
a robust plan for the rework that it performs on a large number of new 787s in storage and
demonstrate that its delivery processes are stable.
While CEO Dave Calhoun said in a statement that the 777-9 program is “progressing well
in development and testing,” the new 2025 timeline is based on “an updated assessment
of the time required to meet certification requirements.” Boeing’s deliveries rose
significantly compared to the first half of 2021, with 216 aircraft delivered in contrast
to 156 during the same period during the previous year.
However, Boeing’s deliveries show a steady rise since experiencing lows in 2020 as the
manufacturer faced pandemic-related issues alongside the 737 MAX crisis. Meanwhile, Airbus
deliveries seem to stagnate short of the pre-pandemic level.
Airbus, meanwhile, has continued to dominate in the single-aisle segment of the market.
Even before the pandemic struck, the European manufacturer had grabbed market share over
US rival Boeing with its popular family of A320 aircraft. The European group clinched
a $37bn deal with a handful of Chinese state airlines for close to 200 of its A321neo jets.
The order marked the first from China since the start of the pandemic, with Covid-19 travel
restrictions holding back the pace of recovery in the country, a key market for both Boeing
and Airbus. Although Boeing did not specify which orders
were canceled, the company revealed that most of them were due to international sanctions,
such as those imposed on Russia, or geopolitical issues. The accounting rules to which the
U.S. manufacturer is subject require it to eliminate from its order book those orders
that become doubtful. Now that we've come to the end of this video,
I want to thank you for sticking with me, and I'd love to know what you think of it.
Just comment down below. Also, If you like this video, make sure you like it, and stay
safe.
Today's video is over, but if you want to see more. There's one on your screen right
now, and there are a few more fun videos coming soon about everyday Aviation technology. I'll
see you in the next video!