Boeing goes to jail again after losing money



Boeing once again “planted” on the 737max. On the 28th local time, Boeing confirmed that the delivery of Boeing 737max aircraft was suspended after electrical problems grounded some of the aircraft. It was only a few months ago that the long-standing no fly order was lifted.

Boeing had previously disclosed problems with the power system and suggested that the airliners be temporarily shut down. Reports at the time said the problem involved electrical grounding inside the backup power control system.

On April 22 local time, the Federal Aviation Administration (FAA) said that subsequent analysis and testing showed that the problem may also involve other systems, which may affect the standby power control unit, circuit breaker panel and main instrument panel.

According to FAA, the problem affects 109 aircraft worldwide, but Boeing has yet to say how many undelivered aircraft must be repaired.

On the 28th, FAA issued a new airworthiness directive, requiring the aircraft to repair the problem before going around. This means that the aircraft is grounded again less than half a year after go around.

For Boeing, this wave has hit hard. Affected by the previous global attention grounded event, Boeing 737max series aircraft delivery has suffered a precipice decline. In November last year, the Federal Aviation Administration of the United States took the lead in lifting the grounded order. In the first quarter of this year, Boeing 737max aircraft made a lot of outstanding performances.

Boeing released its first quarter results on April 28 local time. According to the financial report, Boeing delivered 77 commercial aircraft in the first quarter of 2021, compared with 50 in the same period of 2020, an increase of 54%. Among them, there are 63 737max, 1 747, 5 767 and 6 777. The number of 787 aircraft to be delivered in 2020 will be 28, while only 2 will be delivered this year. Boeing delivered a total of 63 737max aircraft in the first quarter, accounting for nearly 82% of all commercial aircraft delivered, compared with only five delivered in the same period in 2020.

In addition, Boeing disclosed in its performance report that since FAA approved the resumption of 737max operation, Boeing has delivered more than 85 737max aircraft, 21 airlines have resumed 737max fleet operation, flying more than 26000 commercial flights, with a total flight hours of more than 58500 hours.

In addition to the recent problems of 737max, the delivery of Boeing 787 also encountered difficulties.

Due to a series of quality problems exposed, Boeing has not delivered 787 aircraft for nearly five months since the end of 2020. Until late March 2021, Boeing only delivered two 787 wide body aircraft.

Boeing said it resumed delivery of 787 aircraft in late March and conducted a comprehensive review before delivery to ensure that each aircraft met Boeing’s highest safety standards. Boeing also plans to merge the 787 assembly line into Boeing’s South Carolina plant to transition production to five a month.

Affected by 737max grounded and epidemic situation, Boeing suffered losses for the sixth consecutive quarter in the first quarter, with revenue of US $15.2 billion in the reporting period, a year-on-year decrease of 10%; The net loss was US $561 million, and the loss in 2020 was US $641 million, a slight decrease year on year. In 2020, Boeing’s net loss was $11.9 billion, and its revenue fell by 24%.

From the specific business point of view, the revenue of the commercial airliner sector in the first quarter was US $4.269 billion, up from US $6.205 billion in the same period last year, a year-on-year decrease of 31%; The revenue of the defense, space and security departments in the first quarter was US $7.185 billion, up 19% from US $6.042 billion in the same period last year; Global services’ revenue in the first quarter was $3.749 billion, down 19% from $4.628 billion in the same period last year.

In the performance report, Boeing specifically mentioned the Chinese market. In 2020, Boeing’s revenue from the Chinese market fell 68.3% year-on-year to US $1.803 billion.

“In view of the importance of the Chinese market to our recent delivery and the future orders that affect our future production, we will continue to contact the leaders of the two countries to promote a fruitful dialogue,” Boeing chief executive Dave Calhoun told analysts on the same day at Boeing’s first quarter earnings call, China will account for 25% of the growth of the global aviation industry. “

In fact, as early as March, Dave Calhoun called on the United States, saying that Boeing could not afford to be shut out of the Chinese market. Once it lost the Chinese market, its competitor Airbus would benefit.

On March 1, Dong Zhiyi, deputy director of Civil Aviation Administration of China, stressed that the major safety concerns raised by CAAC have not yet been fully resolved. Therefore, the technical review has not yet entered the approval flight test stage in China.

Looking ahead, Dave Calhoun said that although COVID-19 will continue to affect the overall market, 2021 will be a key turning point in the aviation industry. Through cooperation with the government and promotion of vaccination, the aviation industry will achieve a strong recovery. It is worth mentioning that Boeing last week extended its retirement age from 65 to 70, so that Calhoun, 64, will continue to be CEO.

However, as the epidemic situation in India and other countries worsened, the optimism brought by the recovery of domestic tourism market in the United States was offset, once again casting a shadow on the recovery of the aviation industry.

Comprehensive report of Beijing Business Daily

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