బోయింగ్ ...... ఏమి అవుతుందో

[Yaman02]

Boeing was already under pressure after two crashes of its 737 MAX killed 346 people

 

 

 

New York: 

Boeing's head said Monday that restoring the dividend could take three to five years as the company girds for a slow air travel recovery in the wake of the coronavirus crisis.

The comment from Chief Executive David Calhoun was a signal that paying back debt and keeping up Boeing's manufacturing supply chain were bigger priorities than shareholder payouts for the forseeable future.

Speaking at the company's annual meeting, Calhoun offered a sober outlook on the near-term prospects for commercial air travel in the wake of the virus that is projected to cost the airline industry an estimated $314 billion in 2020 revenues, potentially felling some carriers.

"Based on what we know now, we expect it will take two to three years for travel to return to 2019 levels and an additional few years beyond that for the industry's long-term trend growth to return," Calhoun said.

Boeing announced earlier this month it would undertake a voluntary worker layoff plan. Sources have told AFP the company expects to cut 10 percent of its commercial airline workforce.

Even before COVID-19 broke out, Boeing was already under pressure after two crashes of its 737 MAX killed 346 people, leading to its global grounding since March 2019.

Around $17 billion aimed at Boeing was included in the giant federal relief bill approved in late March under the CARES act, which restricts dividends and share buybacks from companies that take aid. Boeing has not said definitively whether it will take federal aid.

Families of the MAX crashes' victims have petitioned US Treasury Secretary Steven Mnuchin to withhold funding for Boeing unless it meets stringent safety and governance standards, according to lawyers who are representing the victims in suits against Boeing.

Airline clients are deferring deliveries, suspending payments to Boeing and retiring older aircraft, which hits the company's services business.

All those effects are on top of more than a year of lost revenues tied to the 737 MAX.

"We know we're going to have to borrow money in the next six months," Calhoun said, adding that repaying debt will occupy the company in the immediate future, impeding its ability to return cash to shareholders.

He also identified maintaining the company's supply chain as a priority, saying "without the supply chain, there will be nothing to assemble."

The company also announced on Monday that it will resume manufacturing of the widebody 787 plane at its South Carolina plant beginning later this week, with new procedures implemented to combat COVID-19 including enhanced cleaning, voluntary temperature screening and physical distancing policies.

Shares of Boeing fell 0.3 percent to $128.63

[Pitta]

[karna11]

Share malli 100 lopu tesokochettunnaru gaa

[fasak_vachadu]

Just now, karna11 said:

Share malli 100 lopu tesokochettunnaru gaa

$0 avuthadi ani predictions 

[sri_india]

14 minutes ago, fasak_vachadu said:

$0 avuthadi ani predictions 

never

[Android_Halwa]

vaddu ra ayya ante bombardier tho kayyam petukunadu...paisal paaye, time waste..and bombardier is now no-1 ancillary supplier for rival Airbus replacing Boeing

Embraer tho deal paaye

adu A32X NEO ante eedu MAX anadu...haiga 737-NG bindaas ga nadustunte geliki mari tanichukunadu MAX ani

787 ki A350 tough competition, literally game changer aircraft....only  market leader is 777-X series, kani mass numbers vundavu..

migilingi MRO services, ivi kuda collaboration lo other airlines ae manage chestunayi..

overall ga, Boeing commercial planes ki debba matram gattiga padabotundi...

[Dhevudu2]

24 minutes ago, fasak_vachadu said:

$0 avuthadi ani predictions 

If boeing is  down then US is down

[Mr Mirchi]

39 minutes ago, Dhevudu2 said:

If boeing is  down then US is down

If us Is down h1 is down aa