TUI sees no chance of Boeing 737 MAX deliveries before September

TUI sees no chance of Boeing 737 MAX deliveries before September
TUI sees no chance of Boeing 737 MAX deliveries before September

We show you our most important and recent visitors news details TUI sees no chance of Boeing 737 MAX deliveries before September in the following article

Hind Al Soulia - Riyadh - FRANKFURT AM MAIN, Germany — German tour operator TUI warned on Tuesday that it does not expect Boeing to deliver any 737 MAX aircraft before September, as the plane builder scrambles to regain regulatory approval after two deadly crashes.

"We no longer expect any Boeing MAX deliveries" before TUI's financial year ends in September, chief executive Fritz Joussen said ahead of the group's annual shareholder meeting.

With the package holiday group forced to rent replacement aircraft for longer than expected, costs stemming from the 737 MAX's grounding are expected to mount to between 220 and 245 million euros ($240-267 million) over the year.

Steve Dickson, head of the US Federal Aviation Administration safety regulator, said last week that a certification flight for the 737 MAX could take place in "a few weeks".

The model has been grounded worldwide since March last year after two crashes that claimed 346 lives.

TUI reported an operating loss of 147 million euros in October-December, traditionally the off season for package holiday firms.

The loss was almost 80 percent worse than the same period last year, weighed down especially by 45 million euros of costs related to the 737 MAX grounding.

But TUI added that it was in talks to recover some of the cash from Boeing.

Looking ahead to the full year, TUI expects an operating profit adjusted for special items of between 850 and 1.05 billion euros.

The group has seen 14 percent growth in bookings since competitor Thomas Cook went bust.

"The travel market in Germany and the United Kingdom should shrink, but we'll be able to gain market share," CEO Joussen said. — AFP


These were the details of the news TUI sees no chance of Boeing 737 MAX deliveries before September for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Saudi Gazette and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Egypt, Cyprus officials intensify talks over joint gas pipeline project