Iftar Timings Mar 19 - Ramazan 8

Lahore
LHR
06:14 PM
Karachi
KHI
06:43 PM
Islamabad
ISB
06:19 PM
Peshawar
PWR
06:23 PM
Quetta
QTA
06:43 PM

News

United orders 25 more Boeing 737 MAX planes in sign of confidence

March 1, 2021 09:49 PM


United Airlines reached an agreement to purchase 25 more Boeing 737 MAX aircraft for delivery in 2023, the carrier said Monday, in a sign of an expected post-coronavirus travel industry recovery.

The contract brings United's total order book on the MAX to 188 and also represents a vote of confidence in the jet, which was grounded for 20 months following two fatal crashes, but cleared by regulators to resume service late last year.

United also plans to move up deliveries of 40 previously ordered MAX planes to 2022 and five others to 2023, the company said a securities filing.

The contracts come amid a prolonged industry downturn during Covid-19 restrictions.

Passenger volumes are still under 50 percent from year-ago levels, according to government statistics. That marks a big improvement from the worst days of the pandemic, but carriers are still burning cash. 

Both United and American Airlines have notified thousands of employees of possible layoffs at the end of March when federal payroll support funding from Congress runs out.

United is advocating in Washington for additional federal funding to sustain the jobs, said Chief Operating Officer Andrew Nocella in a note to employees announcing the MAX orders.

"We need to make aircraft orders more than a year in advance of taking delivery," Nocella said. "And as the end of the pandemic nears and vaccines continue to roll out, today's fleet announcement helps position us to meet the demand we expect to see in 2022 and 2023 and puts us on a path toward more opportunities for our employees in the future."

"Choosing the right investment opportunities at the right time helps us secure that brighter future and is a down payment on our future success," Nocella added.

Shares of United surged 5.3 percent to $55.44 in early trading, while Boeing surged 6.9 percent to $226.48.

 

 



Most Read

  1. Google invites Pakistan’s youngest vlogger Shiraz and sister Muskan to USA Google invites Pakistan’s youngest vlogger Shiraz and sister Muskan to USA
  2. Well-known builder Asif Razaq Deenar arrested at Karachi airport Well-known builder Asif Razaq Deenar arrested at Karachi airport
  3. Islamabad players celebrate victory with Palestine flag Islamabad players celebrate victory with Palestine flag
  4. Ahmed Baig delivers Pakistan's first International Golf Victory in more than 25 years Ahmed Baig delivers Pakistan's first International Golf Victory in more than 25 years
  5. Religious Brotherhood: Tharparkar’s Hindu facilitiates Muslim in Ramazan Religious Brotherhood: Tharparkar’s Hindu facilitiates Muslim in Ramazan
  6. Caught in the act: Corrupt cops fired as video goes viral Caught in the act: Corrupt cops fired as video goes viral

Opinion

  1. 1947 TO FORM 47
    1947 TO FORM 47

    By Dr Asif Channer

  2. Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....
    Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....

    By Ali Ramay

  3. Global race: China will reduce its unnecessary expenses
    Global race: China will reduce its unnecessary expenses

    By Ali Ramay

  4. Channer Pir: The Great Saint of Cholistan
    Channer Pir: The Great Saint of Cholistan

    By Dr Asif Channer

  5. Literate the Religious Illiterate
    Literate the Religious Illiterate

    By Dr Asif Channer

  6. From White Elephant to Success: BRI Project Witnesses Surge in Ridership
    From White Elephant to Success: BRI Project Witnesses Surge in Ridership

    By Ali Ramay