THE BOEING COMPANY

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Delayed Nyse  -  04:00 2022-07-01 pm EDT
139.84 USD   +2.28%
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Hong Kong allows airlines to resume using Boeing 737 Max

01/21/2022 | 11:56am EDT
A Boeing 737 MAX 8 sits outside the hangar during a media tour of the Boeing 737 MAX at the Boeing plant in Renton, Washington

(Reuters) - Hong Kong is permitting airline operators to restart the use of Boeing Co's 737 Max aircraft in the city's airspace, its Civil Aviation Department (CAD) said in a directive on Friday, lifting its ban on the aircraft after nearly three years.

The 737 MAX is integral to the Boeing's ability to rebound from the COVID-19 pandemic and a safety scandal caused by two fatal crashes.

Hong Kong had temporarily restricted use of the aircraft in 2019 following a deadly plane crash in Ethiopia that claimed 157 lives.

Airlines that intend to fly the 737 Max in Hong Kong's airspace and to the international airport need to comply with the airworthiness directive from the U.S. Federal Aviation Administration or a similarly stringent directive from the country where the plane was registered, said Victor Liu, the director-general of CAD.

The airline must also carry a valid certificate of airworthiness that meets International Civil Aviation Organization standards, the directive added.

Shares of Boeing pared losses to trade down 2.4% at $209 after the news, which was first reported by Bloomberg.

(Reporting by Aishwarya Nair in Bengaluru; Editing by Amy Caren Daniel)


© Reuters 2022
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Financials (USD)
Sales 2022 75 137 M - -
Net income 2022 1 088 M - -
Net Debt 2022 41 151 M - -
P/E ratio 2022 89,9x
Yield 2022 -
Capitalization 82 734 M 82 734 M -
EV / Sales 2022 1,65x
EV / Sales 2023 1,25x
Nbr of Employees 142 000
Free-Float 58,4%
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Mean consensus BUY
Number of Analysts 20
Last Close Price 139,84 $
Average target price 217,32 $
Spread / Average Target 55,4%
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Managers and Directors
David L. Calhoun President, Chief Executive Officer & Director
Nicole R. Nason Vice President-Federal Affairs for Aviation
Brian J. West Chief Financial Officer & Executive Vice President
Lawrence W. Kellner Non-Executive Chairman
Gregory L. Hyslop Chief Engineer, EVP-Engineering, Test & Technology
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