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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  GlobalData Plc    DATA   GB00B87ZTG26

GLOBALDATA PLC

(DATA)
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B737 MAX's troubles could extend far beyond current COVID-19 crisis, says GlobalData

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07/10/2020 | 10:06am EDT

Following the recent news that Avolon has canceled an additional order of 27 B737 MAX;

Nicolas Jouan, Aerospace and Defense Analyst at GlobalData, a leading data and analytics company, offers his view on the situation:

"Bad news appears to come unabated since the beginning of the year for Boeing's B737 MAX. After the deferral of 68 B737 MAX from leasing company SMBC Aviation Capital last month, Avolon announced the cancelation of an additional 27, adding to 75 previous cancelations announced last April. While Boeing is still formally planning on a return to flight this year for the fuel-efficient version of its bestselling narrow-body, its B737 order book is shrinking at a dangerous pace, suggesting that the MAX's troubles could extend far beyond the current COVID-19 crisis that has wiped out air travel in the past few months.

"The pandemic appears to be the reason for cancelations and deferrals, at least formally. For instance, SMBC declared that the deferral would extend until 2025, which is a reasonable timeframe to assess the true long term impact of COVID-19 on commercial aviation. However, while COVID-19 has certainly had a profound impact on MAX's troubles, it is not the sole cause as companies such as Air Canada or Air Lease Corporation canceled orders in massive proportions earlier this year without even directly invoking COVID-19 disruptions. It is becoming increasingly likely that we will see a FAA recertification before the end of the year, but doubts remain regarding the potential of the MAX to preserve, let alone conquer, market shares in a shrinking commercial aviation industry."

ENDS

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About GlobalData

4,000 of the world's largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData's unique data, expert analysis and innovative solutions, all in one platform. GlobalData's mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.

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(C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE

Stocks mentioned in the article
ChangeLast1st jan.
BOEING COMPANY (THE) 4.58% 177.7501 Delayed Quote.-47.81%
GLOBALDATA PLC 0.60% 1690 Delayed Quote.30.23%
MAX'S GROUP, INC. 1.10% 4.6 End-of-day quote.-62.90%
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Sales 2020 180 M 235 M 235 M
Net income 2020 23,0 M 30,1 M 30,1 M
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P/E ratio 2020 93,3x
Yield 2020 0,97%
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