WASHINGTON - The coronavirus pandemic, the threat of airline bankruptcies and a global recession. Now a historic oil glut and price crash are adding to the woes of Boeing and Airbus. The duopoly that dominates most of the world’s aircraft production spent more than a decade racking up record orders for planes they boasted could save millions in fuel, Leslie Josephs reports for CNBC. Continue reading original article.
The Intelligent Aerospace take:
April 21, 2020 - Rising fuel prices help drive demand for more fuel-efficient passenger aircraft as carriers look for cost savings. Both Boeing and Airbus rolled out more efficient models with the 737 Max and A320neo respectively and carriers responded by placing thousands of orders to be filled over years. With the collapse of oil prices alongside a severe drop in air travel demand, leasing companies and carriers are canceling hundreds of aircraft orders.
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Jamie Whitney, Associate Editor
Intelligent Aerospace
