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March 24 (Reuters) - Financial sector headwinds are creating fresh openings for private equity investments in aerospace, as suppliers' need for capital to meet soaring demand for planes and parts risks further turbulence, executives said. He said he would not oppose a private equity investment, as long as he maintains control and the combination makes sense by lowering costs. Global private equity deals among companies with aerospace portfolios rose to 216 in 2022, more than double 2019's figure and the highest in over a decade, according to Refinitiv data. Permanent Equity wants to invest in repair stations and suppliers with large inventories of aerospace parts. In Canada, while bank loans remain accessible for small suppliers, rising rates have flattened real estate pricing.

☆ Japan Airlines and Boeing reach deal for 21 737 MAX jets
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Issei KatoMarch 23 (Reuters) - Japan Airlines (9201.T) has placed its first-ever order for the Boeing 737 MAX, announcing a plan on Thursday to buy 21 jets to replenish its narrowbody fleet. The JAL order ensures a foothold for the MAX with Japan's flagship carrier as Boeing strives to undermine Airbus's lead in the narrowbody market. "One problem that has hobbled the (737 MAX) program is that despite good orders, there haven't been as many high profile users. ANA and Boeing concluded the MAX deal in July. The Boeing 737-800 currently makes up the largest portion of JAL's narrowbody fleet, with the carrier owning 47 jets and leasing another 17 737s, according to JAL.

☆ Ryanair's O'Leary says talks restarted with Boeing for new aircraft order - FT
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +1 min

March 23 (Reuters) - Ryanair Holdings Plc (RYA.I) is optimistic on striking a major new aircraft order after the Irish airline restarted talks with Boeing Co (BA.N), its top boss said in an interview with the Financial Times on Thursday. Chief Executive Officer Michael O'Leary said there was a 'deal to be done' with negotiations between the Irish airline and Boeing in "the early stages" for a new order of Boeing 737 jets, according to the newspaper. I think there is a deal to be done," the report quoted O'Leary as saying. He added that the new multibillion-dollar order could be for the 737 Max 10 or for the smaller Max 8200, according to the report. Boeing declined to comment, while Ryanair did not immediately respond to Reuters' request for comment.

☆ Pentagon Probes Why Boeing Staff Worked on Air Force One Planes Without Security Credentials
▼ + stars: | 2023-03-23 | by ( Andrew Tangel | ) www.wsj.com time to read: 1 min

President Biden arriving on Air Force One to John F. Kennedy Airport last month. Pentagon officials are scrutinizing why Boeing Co. employees worked on current and future Air Force One planes without security credentials required for the highly classified jets. The Defense Department and Boeing have also been examining for how long many workers with access to the jets now in use by the U.S. president, and under development in San Antonio, lacked certain current security credentials, according to a Pentagon official and a person familiar with the matter.

☆ Pentagon probes lapse in Boeing security credentials for Air Force One
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +2 min

On March 14, Boeing discovered that "Yankee White" credentials for about 250 employees who work on the Air Force One planes had lapsed, the Air Force and Boeing confirmed. All of the workers involved have retained current top secret clearances, according to the Air Force and Boeing. However, the additional Yankee White clearance is required for individuals working on matters connected to the presidential aircraft. "When Boeing discovered this administrative issue, we quickly notified the Air Force, and, in coordination with the Air Force, we temporarily suspended access to the VC-25A and VC-25B areas for those Boeing employees who were affected," a Boeing spokesperson said. On March 19, "the vast majority of employees" with lapsed Yankee White credentials were approved to begin working in the secured areas where Air Force One planes are built and maintained, the Air Force said.

☆ About 250 Boeing employees were working on Air Force One planes with expired security clearance, report says
▼ + stars: | 2023-03-23 | by ( Samantha Delouya | ) www.businessinsider.com time to read: +3 min

Boeing mistakenly allowed workers without the proper security clearance to fly on Air Force One. The company said it alerted the Air Force immediately about the issue and is working to fix it. A Boeing spokesperson said the company caught its mistake earlier this month and quickly reported it to the Air Force. As a result, the Air Force pulled the affected workers off the schedule until their clearances were back up to date. This isn't the first stumbling block Boeing has recently encountered in its work with Air Force One.

☆ Boeing wins Japan Airlines order for 21 MAX jets -sources
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON/TOKYO, March 22 (Reuters) - Boeing Co (BA.N) has secured a deal worth at least $2.5 billion at list prices to sell 21 of its 737 MAX jets to Japan Airlines Co (JAL) (9201.T), industry sources said. The deal will be announced on Thursday, they added, after talks to renew the narrow-body fleet emerged earlier this month. The deal is slated to be the first order for the 737 MAX placed by JAL, which predominantly owns Boeing aircraft and has operated the 737-800 as its main narrowbody plane. It follows an order from All Nippon Airways for 20 MAX jets that was finalized in July after a two year delay following the 737 MAX safety crisis. With Airbus single-aisle A320s in use by ANA's Peach unit and JAL's Jetstar Japan, Boeing strove to ensure that the MAX secured a foothold in the mainline fleet of Japan's national carrier.

☆ Boeing signs deal with U.S. army to build 184 AH-64E Apache helicopters
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: 1 min

March 17 (Reuters) - Boeing Co (BA.N) said on Friday it had signed a contract with the U.S. army and international customers, including Australia, to build 184 AH-64E Apache attack helicopters. The $1.9 billion contract value will bring the total funded value to $2.1 billion and can increase to more than $3.8 billion with future contracts, Boeing said in a statement. Reporting by Akanksha Khushi in Bengaluru; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

On Tuesday, Boeing announced orders for 78 Dreamliners, split between state-owned Saudi Arabian Airlines (Saudia) and new national airline Riyadh Air. The $37 billion sale, which Boeing called its fifth-largest commercial order by value, followed a deal with United Airlines (UAL.O) in December for 100 Dreamliners and a purchase by Air India that included 20 787s. Planemakers are also grappling with the after-effects of the pandemic, which forced waves of layoffs and retirements of skilled workers. While Airbus outsold Boeing in the Air India deal, landing orders for 40 A350 widebodys, the U.S. planemaker swept both the United Airlines and Saudi orders. “Saudi Airlines is a government-owned airline, and so there are politics involved with this,” analyst Stallard said.

☆ Boeing expects 2023 aircraft financing to reach pre-pandemic levels
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +1 min

March 15 (Reuters) - Boeing Co (BA.N) said in a report on Wednesday that it expects commercial aircraft financing to reach near pre-pandemic levels in 2023, highlighting strong industry fundamentals. The carrier released its outlook amid increased signs of distress in the banking sector as shares of Credit Suisse (CSGN.S) slumped on funding concerns. Banks have already been under pressure following the recent collapse of the Silicon Valley Bank (SIVB.O) and Signature Bank (SBNY.O). The planemaker did not immediately respond when asked if its outlook takes into account the stress in the banking sector. Boeing, which annually reviews aircraft financing trends, said it sees increased interest from aircraft financiers and investors to aid commercial airplane deliveries.

☆ Boeing, Families Argue Over Pay for 737 MAX Victims’ Suffering
▼ + stars: | 2023-03-15 | by ( Andrew Tangel | ) www.wsj.com time to read: 1 min

A memorial protest outside Boeing’s Virginia headquarters last week marked the four-year anniversary of the Ethiopian Airlines crash. Four years after a second 737 MAX crashed, Boeing Co. and attorneys for families of the dead are arguing over whether the plane maker should have to pay for the victims’ suffering. Boeing attorneys say the crash victims died instantaneously when the Ethiopian Airlines jet slammed into the ground. They argue in court documents that any pain and suffering they may have felt before impact aren’t legally relevant for calculating damages.

☆ Did MAX 737 Victims Suffer Pain? The Latest Litigation Issue for Boeing and Crash Victims’ Families
▼ + stars: | 2023-03-15 | by ( Andrew Tangel | ) www.wsj.com time to read: 1 min

The four-year anniversary of the Ethiopian Airlines crash was marked with a memorial protest outside Boeing’s Virginia headquarters last week. Four years after a second 737 MAX crashed, Boeing Co. and attorneys for families of the dead are arguing over whether the plane maker should have to pay for the victims’ suffering. Boeing attorneys say the crash victims died instantaneously when the Ethiopian Airlines jet slammed into the ground. They argue in court documents that any pain and suffering they may have felt before impact aren’t legally relevant for calculating damages.

WASHINGTON, March 14 (Reuters) - The White House on Tuesday welcomed the "landmark" deal between Saudi Arabia and the Boeing Co (BA.N), saying it will support U.S. jobs and marked a milestone in cooperation between Saudi Arabia and American industry. Boeing Chief Executive Dave Calhoun said in an interview the planemaker got "support from the Biden administration and from key members of Congress every step of the way... The Biden Administration has done a terrific job in moving the ball forward and was instrumental in landing this purchase." A U.S. official said the Saudi contract was a "white whale" for Boeing, something the planemaker pursued for several years. Senior U.S. officials have been in regular engagement with the Saudis over the deal, but Biden did not have any direct talks with Saudi leaders.

☆ Boeing Dreamliner Deal Aimed at Boosting Saudi Travel
▼ + stars: | 2023-03-14 | by ( Andrew Tangel | ) www.wsj.com time to read: 1 min

Two Saudi Arabian airlines said they would buy almost 80 Boeing Co. 787 Dreamliners, part of a broader plan to boost travel to the oil-rich kingdom. U.S. administration officials said the deal announced Tuesday was worth a combined $37 billion and included options to take the sale up to 121 aircraft. The jets would be powered by U.S.-made General Electric Co. engines.

☆ Boeing sells 78 Dreamliner planes to Saudi airlines
▼ + stars: | 2023-03-14 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Boeing said Tuesday that it has reached a deal to sell 78 of its 787 Dreamliner planes to two Saudi Arabian airlines, the latest large order for the wide-body jets in the past few months. The jetliners will go to Saudi Arabian Airlines, or Saudia, and a new airline, called Riyadh Air, which Crown Prince Mohammad bin Salman announced over the weekend. "This will support the country's goal of serving 330 million passengers and attracting 100 million visits by 2030," Riyadh Air said in a news release. In December, United Airlines agreed to buy at least 100 Dreamliners from Boeing and last month, Air India placed an order for 460 Boeing and Airbus planes. Boeing is set to resume deliveries of the Dreamliner planes this week after a weekslong pause resulting from a data analysis issue it disclosed last month.

☆ Boeing Expected to Sell About 80 Dreamliners in Saudi Airline Deal
▼ + stars: | 2023-03-13 | by ( Andrew Tangel | Summer Said | ) www.wsj.com time to read: 1 min

Two Saudi Arabian airlines are nearing a deal to buy a total of about 80 Boeing Co. 787 Dreamliners with options for some 40 more, people familiar with the matter said, another significant order for the American aircraft manufacturer. Riyadh Air, a new airline launched by the Saudi sovereign-wealth fund over the weekend, is expected to commit to purchasing 39 of the wide-body jets, while existing carrier Saudia is expected to buy the same number of jets, these people said.

[1/2] A Boeing 787-8 puts on a display at the Farnborough Airshow, in Farnborough, Britain July 16, 2018. REUTERS/Peter Nicholls/File PhotoWASHINGTON, March 13 (Reuters) - Boeing Co (BA.N) is expected to sell nearly 80 787 Dreamliner airplanes to two Saudi Arabian airlines, a source briefed on the matter said on Monday. State-owned Saudi Arabian Airlines (Saudia) and new national airline Riyadh Air will both be acquiring Boeing 787s, the source said. The airlines are expected to buy a total of 78 787s split between the two buyers and have options to buy another 43, the source said. The Saudi deal comes on the heels of a major December order from United Airlines (UAL.O) for 100 787 Dreamliners and 100 737 MAX jets.

☆ Saudi Arabia launches new national airline
▼ + stars: | 2023-03-12 | by ( ) www.reuters.com time to read: +1 min

March 12 (Reuters) - Saudi Arabia's Crown Prince Mohammed bin Salman formally announced on Sunday the creation of a new national airline, Riyadh Air, with industry veteran Tony Douglas as its chief executive, as the kingdom moves to compete with regional transport and travel hubs. The new airline is expected to add $20 billion to Saudi Arabia's non-oil GDP growth and create more than 200,000 jobs both directly and indirectly, it said. The announcement may lead to a tougher battle for passengers, going head-to-head with regional giants Emirates, Qatar Airways and Turkish Airlines as the travel industry recovers from the pandemic. In October, Saudi Arabia was in advanced negotiations to order almost 40 A350 jets from Airbus (AIR.PA), with Boeing Co (BA.N) also lobbying for a slice of the kingdom's transportation expansion, industry sources had told Reuters. The head of state-owned Saudi Arabian Airlines (Saudia) told Reuters at the time that it was in talks with Boeing and Airbus on orders both for itself and a planned new carrier.

☆ From Apple to Boeing, India is being put to the test as China manufacturing alternative
▼ + stars: | 2023-03-12 | by ( Vikram Barhat | ) www.cnbc.com time to read: +6 min

Bloomberg | Bloomberg | Getty ImagesThe ties between American companies and India as a manufacturing and supply chain partner are getting deeper. The Boeing deal is indicative of the wider trend among global manufacturers including Apple, Samsung and Nokia, to accelerate manufacturing in India. As far back as 2014 it launched the "Make in India" campaign to raise the profile of India as a global manufacturing hub and encourage multinational companies to produce in India. Boeing, Air India issues The partners have their internal issues to work through. That's on top of the hurdles foreign companies can expect to face in India's accleration as a manufacturing and supply chain partner.

The prospective deal is said to include a mix of Boeing airplanes. A Boeing jetliner at King County International Airport-Boeing Field in Seattle. DUBAI—Saudi Arabia’s Public Investment Fund is close to a deal for a large number of Boeing Co. commercial jets that will serve in the fleet of a new national airline, people familiar with the matter said. The Saudi sovereign wealth fund is expected to announce the deal as soon as Sunday during an official launch of the airline, according to some of the people.

The Saudi deal, if completed, would mark another sizable aircraft order for Boeing in recent months. DUBAI—Saudi Arabia’s Public Investment Fund is close to a deal for a large number of Boeing Co. commercial jets that will serve in the fleet of a new national airline, people familiar with the matter said. The Saudi sovereign-wealth fund is expected to announce the deal as soon as Sunday during an official launch of the airline, though the timing is still fluid, according to some of the people.

☆ Boeing Can Resume Dreamliner Deliveries, FAA Says
▼ + stars: | 2023-03-11 | by ( Andrew Tangel | ) www.wsj.com time to read: 1 min

Boeing said it has confirmed the airplane meets regulatory requirements and doesn’t require changes to production . The Federal Aviation Administration said it has cleared the way for Boeing Co. to resume deliveries of its 787 Dreamliners. The Arlington, Va., plane maker had halted deliveries in February over regulatory documentation issues. The FAA has said that Boeing was conducting additional analysis on a fuselage component.

☆ Saudi sovereign wealth fund reportedly near $35 billion deal for Boeing jets
▼ + stars: | 2023-03-11 | by ( ) www.cnbc.com time to read: +1 min

Saudi Arabia's Public Investment Fund (PIF) is close to a deal to order Boeing commercial jets for the fleet of a new national airline, The Wall Street Journal reported on Saturday, citing people familiar with the matter. The aircraft order is valued at $35 billion, the report said, adding that the deal could be announced as soon as Sunday during an official launch of the national airline. The deal includes wide-body jets which are often used for long international flights, the report added. Boeing declined to comment and the Saudi PIF did not immediately respond to a request from Reuters for comment on the report. The deal is part of a rapid expansion by the country under a strategy to transform the kingdom into a transport hub and promote tourism.

WASHINGTON, March 10 (Reuters) - The Biden administration will modify, but continue with, an Air Force One paint scheme that closely resembles the current white with two shades of blue, which dates back to President John F. Kennedy's administration, the Air Force said on Friday. The contractual decision for a Air Force One paint job "was not required until this year," the Air Force said. Last summer, the Air Force said Boeing was set to deliver the next-generation Air Force One 747s in 2026 and 2027, the latest delay. The Air Force said Friday they are now projected to be delivered in 2027 and 2028. Back in 2018, Boeing received a $3.9 billion contract to build two 747-8 aircraft for use as Air Force One, to be delivered by December 2024.

☆ Saudi sovereign wealth fund close to deal for Boeing jets, WSJ reports
▼ + stars: | 2023-03-11 | by ( ) www.reuters.com time to read: +1 min

March 11 (Reuters) - Saudi Arabia's Public Investment Fund (PIF) is close to a deal for Boeing Co. (BA.N) commercial jets for the fleet of a new national airline, the Wall Street Journal reported on Saturday, citing people familiar with the matter. The deal includes wide body jets which are often used for long international flights, the report added. Boeing declined to comment while the Saudi PIF did not immediately respond to a request from Reuters for comment on the report. The deal is part of a rapid expansion by the country under a strategy to transform the kingdom into a transport hub and promote tourism. Reporting by Akanksha Khushi in Bengaluru; editing by Grant McCool and Franklin PaulOur Standards: The Thomson Reuters Trust Principles.

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