Boeing, which had earlier this year announced that it would be reducing 19,000 jobs due to the ongoing pandemic and the continued grounding of the Max 737 aircraft, is planning to cut another 7,000 jobs.
“The global pandemic continued to add pressure to our business this quarter, and we’re aligning to this new reality,” CEO Dave Calhoun said in an earnings call on Wednesday. It may be recalled that the company had in August warned of further job cuts because of the steep decline in revenue that it has faced over the last year and a half.
The company expects to have about 130,000 jobs by the end of 2021. It is unclear where the job cuts would occur, or if there will be more job cuts in future. The company posted a loss of US$754 million in the most recent quarter and saw revenue fall by US$5.8 billion, or 29%. The company used up US$4.8 billion in the quarter, double its cash burn in the second quarter.
Air traffic will not return to 2019 levels for at least three more years, Calhoun said, It would take several years for air traffic to achieve the level of growth that had been predicted before COVID-19, he added.
Faced with hundreds of cancellations or deferrals of plane orders, Boeing has in recent months reduced production of all its commercial jets. It is halting production of the 787 Dreamliner in Washington state and consolidating production in South Carolina from 2021. Production of the 747, which is now being built only as a freighter, will stop in 2022.
Good news expected on Max 7MA7: Boeing is optimistic of receiving regulators’ approval for the 737 Max to resume flying. Calhoun said it the company should be able to begin deliveries of the Max jets again before the end of the year. Two carriers – American Airlines and Air Canada have announced plans to fly the 737 Max before the end of the year,
Some of the 450 Max jets the company built during the grounding are no longer wanted by airlines that had ordered them. These will be reconfigured for new customers. The company expects to deliver only about half of the already completed jets by the end of 2021, and the other half in 2022.
Scoot, the low-cost arm of Singapore Airlines, recently received the first Embraer E190-E2 aircraft at Changi Airport. "We are excited…
The first of two Fincantieri-built PPA (Pattugliatore Polivalente d'Altura - offshore multi-purpose patrol vessel) for the Indonesian Navy is expected…
Thailand’s DTI (Defence Technology Institute) and the Royal Thai Army recently conducted a successful test of the DTI-STD-003 bridge layer…
Eve Air Mobility has signed a letter of intent with AirX, Japan’s largest public helicopter air charter service, for up…
L3Harris Technologies has received a US$256 million order from the U.S. Army for continued production of the Enhanced Night Vision…
The Missile Defense Agency has selected Lockheed Martin to deliver the nation's new homeland missile defense capability, the Next Generation…
Collins Aerospace will introduce two major upgrades to the Ascentia software platform. Ascentia is a software solution for aircraft reliability management that…
Pratt & Whitney Canada's PT6A engine recently surpassed 25 million flight hours and 40 years of powering the Cessna Caravan…
The US Army deployed its Mid-Range Capability (MRC) missile system to Northern Luzon, Philippines for the first time. This deployment…
Milrem Robotics has secured a contract to deliver an undisclosed quantity of THeMIS UGVs (Unmanned Ground Vehicles) to the Japanese…
CMA CGM Air Cargo is set to expand its service by launching a transpacific route connecting Asia to North America…
Eve Air Mobility (Eve) has designated Korea Aerospace Industries Ltd. (KAI) as the supplier for the pylons of its electric…
Emirates SkyCargo, the cargo arm of one of the two flag carriers of the United Arab Emirates (UAE), has established…
Israel Aerospace Industries (IAI) has secured a contract to supply a Multi-Sensor Multi-Mission Radar (MS-MMR) system for the air defence…
The first Embraer E190F, a jet converted from passenger transport to freighter (E-Freighter), successfully concluded its inaugural flight in São…
The Government of Greece officially announced its plans to purchase 35 UH-60M Black Hawk helicopters from Sikorsky, a Lockheed Martin…
Cathay Cargo resumed its Ho Chi Minh City freighter service on April 4, 2024, after a four-year hiatus due to…
Skykraft has secured approval from the International Telecommunications Union (ITU) for its spectrum filing for a constellation of 2976 satellites.…
The U.S. Navy, in partnership with Lockheed Martin, has successfully conducted a historic Long-Range Anti-Ship Missile (LRASM) flight test with…
The U.S. Air Force has awarded Boeing a contract worth up to $559 million over five years to operate, maintain…
Israel Weapon Industries (IWI) introduced the ARBEL, hailed as the world’s first computerized small arms system, on Thursday (Apr. 4).…
Hong Kong’s Government Flying Service (GFS) has integrated the H175 helicopter flight simulator developed by Indra into their training regimen.…
After a hiatus of over 30 years, Air Canada is set to return to Singapore's Changi International Airport with the…
FLY91, India's youngest regional airline, announced a partnership with IBS Software on Wednesday (Apr. 3). Aiming to enhance its commercial…
Malaysia Airlines announced its partnership with RECARO Aircraft Seating to equip its upcoming Airbus A330neo aircraft with the CL3810 economy…
Rolls-Royce announced that the company has begun flight testing its latest aero engine the Pearl 10X on its dedicated Boeing…
Avolon, a global aviation finance company, has agreed to sell and lease back four new Airbus A330neo aircraft with Cebu…
Malaysia Airlines and India’s largest airline, IndiGo, announced the signing of a Memorandum of Understanding (MoU) for a codeshare partnership…
The Indonesian flag carrier airline, Garuda Indonesia, unveiled plans to expand its aircraft fleet with the procurement of eight new…
Belgian Defence has placed an order for six R7 Remotely Operated Vehicles (ROVs) from Exail. These unmanned underwater vehicles are…
Headquartered in Singapore with reporters spread across all major regions, GBP Aerospace & Defence is a leading media house that publishes three publications that serve the aerospace and defence sector - Asian Defence Technology, Asian Airlines & Aerospace and Daily News. Known industry-wide for quality journalism, GBP Aerospace & Defence is present at more international tradeshows and exhibitions than any other competing publication in the region.
For over three decades, our award-winning team of reporters has been producing top-notch content to help readers stay abreast of the latest developements in the field of commercial aviation, MRO, defence, and Space.
Copyright 2024. GBP. All Rights Reserved.
Home Defence & Security Space Commercial Aviation Maintence Repair & Overhaul Daily News Events About Us Click Me!
2024 GBP all rights reserved.