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The move comes after the grounding of 737 MAX aircraft by aviation authorities around the world and the suspension of deliveries of 737 MAX aircraft by Boeing. Upon cancellation, CBD Financial Leasing still has a total order for 70 Boeing 737 MAX aircraft not delivered under various purchase agreements. Furthermore, the two parties agreed that all Boeing 737 MAX 10 aircraft will be converted to Boeing 737 MAX 8 aircraft and that the delivery of another 20 undelivered aircraft will be deferred to dates in 2024, 2025 and 2026.
“In light of the dynamic dynamics of the aviation market, we have been working together with Boeing for many months to recalibrate our MAX order book to be in line with our long-term vision for the market and related opportunities,” said Xuedong Wang, president of CBD CDB Aviation Financial Unit, said in a statement.
“[The] the agreement will help GECAS to better align our available fleet with the needs of our global customer base, “said GECAS President and CEO Greg Conlon in a statement.” We remain fully committed to the 737 MAX program and our valued partnership. long-term with Boeing. “
Boeing shares advanced 15% on Friday to close at $ 154, as it said it plans this week to resume production at its Philadelphia plant, as well as restart manufacturing of its commercial aircraft in Washington state.
Read more: Boeing plans to resume production next week
TipRanks data shows Wall Street analysts have a moderate buy consensus rating on Boeing stocks based on 13 stocks and 6 purchases. The average price target of $ 187.11 foresees a 22% upside potential for Boeing shares in the next 12 months. (See Boeing stock analysis at TipRanks.)
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