Update 2: The Nordic budget airline Primera Air has agreed to buy eight of Boeing's new 737 Max aircraft for more than US$950 million at list prices, and has an option to buy an additional four planes, the companies said on Thursday.
Primera said it wanted the new planes as it plans to start offering transatlantic flights, the latest low-cost European carrier to do so after Norwegian Air, Eurowings and British Airways’ Level.
The order also includes the sale of another eight 737 Max planes to Air Lease Corp, which will lease them in turn to Primera – bringing the total order to 20 planes. The companies did not disclose the value of the total order.
Update 1: The head of Safran's aircraft engines division said his company aimed to fix the Boeing plane engine glitch within weeks.
Safran discovered a quality problem in turbine disks provided by one of two suppliers, and it is not related to the part’s design, said the Safran Aircraft Engines chief executive Olivier Andries.
“There will be a temporary disruption to the logistics which we hope to fix within a few weeks,” said Mr Andries, speaking at a factory outside Paris where it co-produces the engines with General Electric.
Safran will fly part of the engines it has already delivered to Boeing back from the United States to its French factory, inspect them and return them to Boeing. It will take about a week for each engine and Safran is putting in place resources to handle several at once, Mr Andries said.
Boeing said it would temporarily suspend flights of its new 737 Max jetliner because of a potential manufacturing flaw in the engines, marring the commercial debut for the fastest-selling plane in company history.
The jet maker and its engine supplier, a venture of General Electric and Safran, are rushing to understand the problem ahead of the jet’s commercial debut, which remains scheduled for later this month. Boeing said a possible quality defect in the Leap engine arose during inspections and did not affect flight testing of the upgraded 737.
The grounding added to concerns about the strain on suppliers as the US manufacturer and European rival Airbus unveil new aircraft models while boosting single-aisle production to record levels. Boeing is counting on a smooth roll-out of the 737 Max, the newest version of a plane that is the company’s largest source of profit, as it seeks to boost cash flow.
“Investors are acutely focused on 737 Max ramp risk – and the impact on cash,” said Robert Stallard, an analyst at Vertical Research Partners, said in a note to clients.
Boeing fell 1.2 per cent to $183.18 at the close in New York. GE dropped 0.8 per cent to $28.70.
The 737 Max has accumulated 3,714 orders before its commercial debut. The latest 737 model is slated to be handed over this month to Indonesia’s Malindo Air. Other major customers with deliveries this year include Southwest Airlines, Norwegian Air Shuttle and American Airlines Group.
Airbus said it is continuing normal flight operations on aircraft powered by Leap engines as the European plane maker uses a different version of the engine from those supplied to Boeing.
Asked whether Airbus continued to carry out development test flights and pre-delivery test flights on A320neo-family aircraft powered by the Leap-1A engine, made by GE-Safran venture CFM International, a spokesman for the jet maker said: “Yes we are”.
GE said Safran had found the problem in a disc used in the low-pressure turbine at the rear of the Leap-1B engine used by Boeing. Safran was not immediately available for comment.
* Agencies
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Fixtures:
Wed Aug 29 – Malaysia v Hong Kong, Nepal v Oman, UAE v Singapore
Thu Aug 30 - UAE v Nepal, Hong Kong v Singapore, Malaysia v Oman
Sat Sep 1 - UAE v Hong Kong, Oman v Singapore, Malaysia v Nepal
Sun Sep 2 – Hong Kong v Oman, Malaysia v UAE, Nepal v Singapore
Tue Sep 4 - Malaysia v Singapore, UAE v Oman, Nepal v Hong Kong
Thu Sep 6 – Final
TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
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Company%20profile
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Villains
Queens of the Stone Age
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Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
The%20specs
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RESULTS
Dubai Kahayla Classic – Group 1 (PA) $750,000 (Dirt) 2,000m
Winner: Deryan, Ioritz Mendizabal (jockey), Didier Guillemin (trainer).
Godolphin Mile – Group 2 (TB) $750,000 (D) 1,600m
Winner: Secret Ambition, Tadhg O’Shea, Satish Seemar
Dubai Gold Cup – Group 2 (TB) $750,000 (Turf) 3,200m
Winner: Subjectivist, Joe Fanning, Mark Johnston
Al Quoz Sprint – Group 1 (TB) $1million (T) 1,200m
Winner: Extravagant Kid, Ryan Moore, Brendan Walsh
UAE Derby – Group 2 (TB) $750,000 (D) 1,900m
Winner: Rebel’s Romance, William Buick, Charlie Appleby
Dubai Golden Shaheen – Group 1 (TB) $1.5million (D) 1,200m
Winner: Zenden, Antonio Fresu, Carlos David
Dubai Turf – Group 1 (TB) $4million (T) 1,800m
Winner: Lord North, Frankie Dettori, John Gosden
Dubai Sheema Classic – Group 1 (TB) $5million (T) 2,410m
Winner: Mishriff, John Egan, John Gosden
KILLING OF QASSEM SULEIMANI
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
Zayed Sustainability Prize
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
'Cheb%20Khaled'
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UAE currency: the story behind the money in your pockets