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Toby Melville | ReutersFARNBOROUGH, England — Massive airplane orders, hundreds deep in recent years, were absent from this year's biggest air show. One standout was Air Korea's order for up to 50 Boeing wide-body planes, including the 777X, which Boeing is working toward getting certified by regulators. As both manufacturers grapple with production strains, Air Korea CEO Walter Cho quipped during the Boeing order signing: "Whichever comes first will become our flagship, whoever's on time." Boeing has an overall backlog of close to 5,500 planes, while Airbus has more than 8,000 on order. Many airlines from United Airlines to Air India have also stocked up on new jet orders as travel rebounded in the pandemic.
Persons: Toby Melville, Ihssane Mounir, Boeing's, Walter Cho, whoever's, Peter Anderson, Matthew Childs, Christian Scherer, Scherer Organizations: Airbus, Farnborough, Reuters, Boeing, Wall Street, Paris Air, Ishka, Air, Max, Airbus A321neo, United Airlines, Air India, The Boeing Company, AerCap, Reuters Airbus Locations: Farnborough, Britain, Reuters FARNBOROUGH, England, London, Paris, Air Korea, Arlington , Virginia
CNBC Daily Open: Wall Street looks past political uncertainty
  + stars: | 2024-07-23 | by ( Abid Ali | ) www.cnbc.com   time to read: +3 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Tech reboundThe S&P 500 posted its biggest gain since June 5, recovering from its worst weekly slide since April, as tech stocks rebounded led by Nvidia. The move allows Warner Bros. to retain some of its NBA broadcasting rights. However, the NBA may not want Warner Bros. as a media rights partner and could reject the company's matching rights, which could lead to a legal tussle.
Persons: Russell, CrowdStrike, George Kurtz, Mark Green, Andrew Garbarino, Berkshire Hathaway, Walter Cho, Joe Biden's, Kamala Harris Organizations: CNBC, Tech, Nvidia, Nasdaq, Dow Jones Industrial, Homeland Security, Microsoft, Delta Air Lines, Buffett, Warren, Bank of America, Apple, Boeing, Korean Air, Farnborough, NBA, Warner Bros, Discovery, National Basketball Association, Amazon Prime, Trump Locations: U.S, Berkshire
A Boeing 777X airplane takes off during its first test flight from the company's plant in Everett, Washington, January 25, 2020. FARNBOROUGH, England — Boeing won orders for at least 40 wide-body jetliners from Korean Air, including the yet-to-be-certified 777X jetliner, in a vote of confidence for the struggling manufacturer. The order, announced at the Farnborough Airshow outside of London, includes 20 777X planes, the largest in Boeing's commercial jet lineup, and 20 787-10 Dreamliner planes, both long-range jets. Korean Air CEO Walter Cho said he expected to start receiving the planes later this decade. "If I wasn't assured, I would not have ordered it," Cho said at a news conference of Korean Air's order.
Persons: Walter Cho, Cho, whoever's Organizations: Boeing 777X, England — Boeing, Korean Air, U.S . Federal Aviation Administration, Boeing, Delta Air Lines, Airbus Locations: Everett , Washington, FARNBOROUGH, England, Korean, Farnborough, London
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKorean Air CEO: There's a lot of growth capacity in the air cargo marketWalter Cho, chairman and CEO of Korean Air, discusses the outlook for his company's travel and cargo services.
Persons: Walter Cho Organizations: Korean, Korean Air
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe expect a full recovery by the third quarter of this year, says Korean AirWalter Cho of the airline says passenger demand is very strong and there's a "big increase" in travel to the United States and other parts of the world.
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