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Boeing Co. said on Thursday it took a new order for eight 777s, potentially worth $2.7 billion, from BOC Aviation in the week ended Nov. 2.
The company, which competes with Airbus for commercial plane sales, also identified Russian Technologies as the buyer behind an order for 50 737s. The buyer was previously listed as unidentified. Get the full story »
Qantas grounded its Airbus A380 fleet after one of the superjumbo jets blew out an engine Thursday, shooting flames and raining large metal chunks before making a safe emergency landing in Singapore with 459 people aboard. Get the full story »
Airlines appeared on a potential collision course with regulators on Friday over the cost of carrying out proposed checks on over 100,000 passenger seats in the wake of a row over questionable safety data.
U.S. and European safety agencies said on Thursday they were proposing mandatory checks on Koito-manufactured seats, estimated to affect 150,000 seats on 1,000 mainly Airbus and Boeing planes. Get the full story »
Boeing Co. received billions of dollars in illegal government subsidies, including $25 million in incentives that Illinois provided the plane maker to relocate its world headquarters to Chicago in 2001, a panel of the World Trade Organization determined.
The WTO report is confidential and was released to U.S. and European trade officials Wednesday. It is the first ruling in the second of dueling trade cases filed by the U.S. and European Union against each other last decade alleging that aircraft manufacturers had received unfair government support. Get the full story »
The Boeing Co. rejected suggestions Tuesday that an imminent ruling by the world’s top trade court on allegations that the Chicago plane maker received billions in illegal subsidies should be tied to a similar case against its biggest rival Airbus.
The European company claims Boeing’s case before the World Trade Organization is key to resolving a wider dispute over government aid to aircraft manufacturers. Airbus was found by the Geneva tribunal to have gained an unfair advantage through billions in low-interest loans, infrastructure provisions and research and development grants. Get the full story »
The European Union plans on Wednesday appealed a World Trade Organization ruling that Airbus SAS received $20 billion in illegal government subsidies that unfairly tilted the global aircraft market — to the detriment of Chicago-based Boeing Co. The appeal had been widely expected, and will likely prolong the already long-running dispute between the E.U. and U.S. over government funding to planemakers Airbus and Boeing. Get the full story »
Boeing CEO James McNerney in front of a 787 which made its international debut at Farnsworth. (Reuters)
Planemaker Boeing Co. unveiled $13 billion in new aircraft orders during the first day of the Farnborough International Airshow, besting the $9 billion in orders reported by rival Airbus SAS as thousands of airplane suppliers and buyers gathered at the largest aerospace trade event of the year.
The flurry of aircraft orders came after two lean years for aircraft manufacturers Chicago-based Boeing and France-based Airbus and signaled that a rebound in the global airline market is well under way.
“The market is clearly coming back and I feel very confident about how we are positioned to regain — and retain — leadership in this business,” Jim Albaugh, CEO of Boeing’s commercial airplane business, told reporters Monday. Get the full story »
The European Union and some of its states paid prohibited export subsidies to planemaker Airbus and must eliminate them rapidly, a World Trade Organization dispute panel said on Wednesday. The ruling marks a big setback for Airbus, but is not the end of its battle with rival Boeing over subsidies in the market for large civil aircraft worth $3 trillion over the next 20 years.
Boeing hailed the WTO ruling, which did not back all U.S. claims, saying it proved that Airbus had only been able to take market share from Boeing — nudging it out of number one place in the process — because of subsidies. Get the full story »
