US industrial production fell 0.3 per cent in January as unseasonably warm weather held down the output of utilities and Boeing Co cut production of civilian aircraft, the Federal Reserve (Fed) said.
The United States won approval on Wednesday to impose tariffs on $7.5 billion worth of European goods over illegal EU subsidies handed to Airbus, threatening to trigger
Regional aircraft markets will need $600 billion in investments to meet the demand for 150-seat 10,550 aircrafts by 2038 due to rise in air travellers, according to Embraer, the Brazilian aerospace conglomerate.
Boeing on Saturday said it had cancelled a $4.2 billion deal to buy the commercial jets division of Embraer, unraveling years of work on what the Brazilian planemaker expected to be a transformative move.
Boeing Co said it would cut its 160,000-person workforce by about 10%, further reduce 787 Dreamliner production and try to boost liquidity as it prepares for a years-long industry recovery from the coronavirus pandemic that drove its second consecutive quarterly loss.
Boeing failed to sell a single commercial airplane but saw orders for 108 planes canceled in April as a sharp drop in air travel erased any demand among airlines for new jetliners.
Emirates CEO and Chairman Sheikh Ahmed Bin Saeed Al Maktoum said this order replaces an agreement for 150 777x Boeing to 126 of that aircraft, and adds 30 of the 787-9 Dreamliners. He spoke to reporters at the Dubai Airshow.
Airbus expected to hand over a record number of aircraft to customers in December to meet delivery goals, a company data showed, and is all but certain of winning an annual order race against Boeing.
Australia’s Qantas Airways picked Airbus over Boeing as the preferred supplier for jets capable of the world’s longest commercial flights from Sydney to London, dealing the US planemaker its latest setback this year.