The Boeing Co.’s decision to re-engine its single-aisle 737 didn’t draw much enthusiasm from Steven Udvar-Hazy, one of the most influential figures in aviation.
On Thursday Udvar-Hazy, the CEO of Air Lease Corp. and founder of International Lease Finance Corp., said he was disappointed with Boeing’s decision to re-engine the 737 rather than come out with an all-new airplane.
He called the upgraded 737 a “Band-aid” solution, which Boeing picked due to other problems the jet maker is facing. Boeing has two major programs – the 787 and 747-8 – which have been a “tremendous negative cash flow” on the company, Udvar-Hazy said. Boeing hopes to deliver its first 787 and first 747-8 next month.
Still, he said there are questions about how competitive Boeing’s re-engined 737 will be compared with Airbus’ A320 new engine option jet, or A320 NEO.
For more on the design of the 737, read analyst Scott Hamilton’s blog.
Boeing’s board still has to approve the decision to go forward with an upgraded 737, which Boeing announced in conjunction with an order from American Airlines.
Read all of Udvar-Hazy’s comments here.
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