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Boeing threatens record loss due to corona crisis and 737 Max debacle

2021-01-27T13:47:11.521Z

11.9 billion US dollars in the lousy: At the aircraft manufacturer Boeing, the aviation crisis in the Corona year will have a more violent impact than analysts feared. But there is also good news.



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A Boeing 737 MAX 8 when it was still allowed to fly

Photo: Elaine Thompson / AP

The corona crisis, the debacle surrounding the 737 Max crisis jet and new delays in the 777X large-capacity jet have caused the US aircraft manufacturer Boeing to suffer a record loss in 2020.

The bottom line was a minus of more than 11.9 billion US dollars (9.8 billion euros), as the Airbus rival announced in Chicago on Wednesday.

In 2019, the minus was $ 636 million.

Because of the 777X alone, Boeing put $ 6.5 billion back at the end of the year.

As a result, the minus was significantly higher than analysts expected on average.

The first copy of the 777X will not be delivered until the end of 2023.

Boeing had already postponed the date several times - most recently to the year 2022. The reasons for the renewed delay were, among other things, the changed approval requirements for the jet and the decreased demand from airlines as a result of the corona crisis.

At times, this almost brought air traffic to a standstill.

EASA cancels 737 max-lock

Hope is given by the news that after a two-year ban, the European aviation authority EASA also gave the green light to the 737 Max crisis jet on Wednesday: The Boeing aircraft is also allowed to take off again in Europe.

"We have decided that the 737 Max can safely return to service," said EASA chief Patrick Ky.

In November the 737 Max had already received the permission to take off from the US aviation authority FAA.

The 737 Max is Boeing's best-selling model and most important profit maker.

The fact that the aircraft type could not be delivered during the take-off bans has put a massive burden on Boeing in the past two years - as early as 2019, Airbus overtook its US competitor as the world's largest aircraft manufacturer.

Now the problem plane is allowed to take off again, but the corona pandemic has brought the aviation industry into one of its deepest crises.

That costs Boeing a lot of orders - according to the company, there were a good 650 cancellations in 2020.

In total, more than 1000 orders were deleted from the order book because many orders are considered unsafe.

After two pitch-black years, Boeing could have the worst behind them.

The vaccines against the coronavirus also give hope to aviation and despite the many cancellations, Boeing does not have to seriously worry about a lack of orders in view of the aviation duopoly, which means that customers have almost no alternatives other than their rival Airbus, which has been fully booked for years.

Recently there were more new orders.

Nevertheless, Boeing remains under strong pressure - further production cuts and job cuts are hardly surprising.

Icon: The mirror

caw / dpa-AFX

Source: spiegel

All business articles on 2021-01-27

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