financetom
Business
financetom
/
Business
/
Boeing restarts new plane deliveries to China
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Boeing restarts new plane deliveries to China
Jun 30, 2024 10:37 PM

SEOUL, July 1 (Reuters) - Boeing ( BA ) has restarted

wide-body jet deliveries to China that were halted in recent

weeks due to a Chinese regulatory review which also stalled new

narrow-body deliveries by the U.S. planemaker, according to

flight tracking data and two sources.

All Boeing ( BA ) deliveries to China are now set to resume, a

source told Reuters.

New Boeing ( BA ) deliveries to China have been off and on since

2019 after two fatal crashes of MAX 8 jets and amid intensifying

tensions over issues ranging from technology to national

security between Washington and Beijing.

The resumption is a boost to Boeing ( BA ), which had flagged the

China delivery delay to investors, and which is engulfed in a

separate safety and quality crisis.

On Friday a brand new Boeing ( BA ) wide-body 777 freighter

registered to Air China Cargo as B-223S flew from Everett Paine

Field in Washington state, where Boeing ( BA ) has a factory, to

Beijing, according to flight tracking platform FlightRadar24.

Late on Sunday another new 777 freighter registered to Air

China Cargo as B-223T departed Everett Paine for Beijing,

tracking data showed.

Air China did not respond to a request for

comment.

A source told Reuters last week that orders of wide-body 777

and 787 planes are expected to be delivered in the coming days,

with 737 MAX deliveries set to resume as early as July.

China suspended most orders and deliveries of Boeing ( BA ) planes

in 2019 after the 737 MAX was grounded worldwide after fatal

crashes in 2018 and 2019. Reuters reported on Sunday the U.S.

Justice Department will criminally charge Boeing ( BA ) with fraud over

the crashes.

Deliveries of wide-bodies re-started in December and

narrow-body MAX jets in January. Reuters reported in late May

deliveries had again stopped due to a review by the Civil

Aviation Administration of China (CAAC) of batteries in 25-hour

cockpit voice recorders.

Boeing ( BA ) directed a request for comment to CAAC, which did not

respond.

In a year-end 2023 filing, Boeing ( BA ) said it had about 140 737

MAX 8 aircraft in inventory, including 85 aircraft for customers

in China. Boeing ( BA ) delivered 22 aircraft to China between the

start of 2024 and the end of April.

The planemaker estimates Chinese airlines will need 8,560

new commercial planes by 2042.

(Reporting by Lisa Barrington; Additional reporting by Sophie

Yu; Editing by Muralikumar Anantharaman)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Market Chatter: Franklin Resources' Western Asset Faces Federal Criminal Probe for Trade Allocation
Market Chatter: Franklin Resources' Western Asset Faces Federal Criminal Probe for Trade Allocation
Aug 22, 2024
04:08 PM EDT, 08/21/2024 (MT Newswires) -- Franklin Resources' ( BEN ) Western Asset Management unit is facing a criminal investigation by federal prosecutors into whether a company executive allocated lucrative trades to favored accounts and moved less profitable trades to others, Bloomberg reported Wednesday, citing people familiar with the matter. The investigation is led by the US Attorney's Office...
Citigroup Insider Sold Shares Worth $816,314, According to a Recent SEC Filing
Citigroup Insider Sold Shares Worth $816,314, According to a Recent SEC Filing
Aug 22, 2024
04:08 PM EDT, 08/21/2024 (MT Newswires) -- Gonzalo Luchetti, Head of U.S. Personal Banking, on August 20, 2024, sold 13,254 shares in Citigroup ( C ) for $816,314. Following the Form 4 filing with the SEC, Luchetti has control over a total of 88,966 shares of the company, with 88,966 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/831001/000095017024099483/xslF345X05/ownership.xml ...
Hni Insider Sold Shares Worth $3,777,674, According to a Recent SEC Filing
Hni Insider Sold Shares Worth $3,777,674, According to a Recent SEC Filing
Aug 22, 2024
04:03 PM EDT, 08/21/2024 (MT Newswires) -- Vincent P Berger, President, Hearth & Home Technologies; Executive Vice President, HNI Corporation ( HNI ), on August 19, 2024, sold 73,614 shares in Hni (HNI) for $3,777,674. Following the Form 4 filing with the SEC, Berger has control over a total of 70,545 shares of the company, with 68,623 shares held directly...
Top US oilfield firm Halliburton hit by cyberattack
Top US oilfield firm Halliburton hit by cyberattack
Aug 22, 2024
HOUSTON, Aug 21 (Reuters) - Top US oilfield services firm Halliburton ( HAL ) on Wednesday was hit by a cyberattack, according to a person familiar with the matter. The attack appeared to impact business operations at the company's north Houston campus, as well as some global connectivity networks, the person said, who declined to be identified because they were...
Copyright 2023-2026 - www.financetom.com All Rights Reserved