Friday, September 30, 2022

Geopolitics prompts Boeing to downgrade dozens of jet orders

Boeing has removed 141 airplanes from its backlog of pending orders, many of them due to geopolitical considerations, including a ban on sales due to sanctions imposed on Russia for the war against Ukraine. Is.

The major aircraft maker said Tuesday that it took 38 net new orders for the planes in March, most of them single-aisle 737 MAX jets. Air Lease Corp placed an order for 32 Max.

Boeing removed 141 pre-ordered planes from its backlog of more than 4,000 planes because accounting rules don’t make it clear whether the sale will be completed. Sometimes planes are pulled from the backlog because of order cancellations, other times because the buyer’s financial problems jeopardize the deal.

This time, however, Boeing said that about two-thirds of the aircraft removed from the backlog arose for geopolitical reasons, including sanctions. It declined to identify the customers whose orders were, in fact, downgraded to become suspicious.

Boeing had previously indicated that it had not placed orders for 34 aircraft with Russian carriers Utair and Volga-Dnepr and seven with Ukraine’s Skyup Airlines.

Over the past 10 years, Boeing has placed orders for 86 aircraft from Russian companies, including 30 from Utair, 22 from Sberbank Leasing and six from the country’s flag carrier Aeroflot.

The United States and its allies are increasingly imposing sanctions on Russia Since it invaded Ukraine in February. Sberbank is one of the goals.

The Boeing Company said it delivered 41 aircraft in March, including 37 737 aircraft, most of them MAX models. The Chicago-based company has delivered 95 planes so far this year, providing significant cash as airlines typically pay a substantial portion of the purchase price upon delivery.

Nation World News Desk
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