You know, it’s seemed like I’ve been writing about a lot of Boeing deals this year, and sonuvagun, the Wall Street Journal says I was right. The Journal today reports that both Boeing and Airbus are on track for record years for orders in 2005. Here at The Herald, we don’t subscribe to the Journal anymore, but British financial newswire AFX has summarized the story for its subscribers, versions of which can be found in Forbes, http://www.forbes.com/finance/feeds/afx/2005/09/20/afx2232889.html and Irish publication Business World http://www.businessworld.ie/livenews.htm?a=1258543;s=rollingnews.htm
Key Quote: “Boeing’s top airplane salesman, Scott Carson, said the main factors driving the current resurgence are a strong recovery in the demand for cargo aircraft and tremendous growth in China and India.”
The story does go on to note something that you folks already know — the surge in sales doens’t necessarily mean a big jump in ‘05 revenues, because the big money comes in when the jets are delivered.
Underscoring the demand for jets, Reuters http://in.today.reuters.com/news/newsArticle.aspx?type=businessNews&storyID=2005-09-20T144227Z_01_NOOTR_RTRJONC_0_India-216757-1.xml reports that Israel’s El Al is in the market for a pair of 777s or A340s. El Al always bought Boeing when it was owned by the Israeli government, but now that it’s privately owned, executives are saying they’re free to pursue an Airbus alternative.
Key Quote, from El Al president Haim Romano: ” ‘We are not obliged to purchase from Boeing,’ Romano told Reuters.”
On the deliveries side, Boeing customers are juggling their plans now that the Machinists strike has stopped production. Ryanair plans to “amalgamate” 200 flights over the next couple months, and keep in service some older 737-200s that were scheduled for retirement, AFX reports. http://www.forbes.com/business/feeds/afx/2005/09/20/afx2234117.html
Key Quote: “Seven planes were scheduled to be received in September and October but are now not expected to be delivered until November and December.”
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