Saudi Arabian Airline flyadeal “Holding Off” on Boeing Order
Dow 30 component Boeing (NYSE: BA) is the world’s largest aerospace company and leading manufacturer of commercial jetliners and defense, space and security systems. A top U.S. exporter, the company supports airlines and U.S. and allied government customers in 150 countries. Boeing products and tailored services include commercial and military aircraft, satellites, weapons, electronic and defense systems, launch systems, advanced information and communication systems, and performance-based logistics and training.
According to a recent Reuters story, the Saudi Arabian State airline flyadeal plans to reevaluate its decision to order Boeing’s top-selling Max aircraft & holding off their purchase (worth $5.9 billion) until the investigation into the crash is completed. The decision came after two 737 Max aircraft of the same model had resulted in two deadly crashes in Indonesia and Ethiopia recently. Boeing is trying hard to reinstate faith in its aircraft post the failure of the system software and two crashes that have raised a significant amount of pressure on the company.
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