JAMIE CARR: Boeing approaching a crash-landing
The company is scrambling to save money wherever it can, but there is no prospect of a meaningful recovery until governments move away from lockdowns
Just when you thought things couldn’t get any worse for the aircraft manufacturer comes the dread news that Boeing has flogged its corporate yacht. With the company laying off 30,000 employees by the end of 2021, it has been forced to do what it can to cut costs wherever possible. That means it’s all over for the schmoozefest aboard the 151ft Daedalus, which has been sold for $13m. If the company still had any clients it wanted to entertain, it’s certainly got plenty of 737 Maxes hanging around that it could use.
The 737 Max has been grounded for 18 months following two fatal crashes, and while regulators have signalled that they may be able to resume flying shortly, it remains unclear how excited the flying public will be to trust it in the air. Coupled with this is the impact of the Covid-19 pandemic, with airlines delaying or cancelling orders and parking much of their fleets, with fewer flying hours meaning less revenue for Boeing’s service division...