Latest news with #Boeing737Max
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Business Standard
a day ago
- Business
- Business Standard
Air India seeks bank loan of about $200 mn for fleet of Boeing 777 planes
AI Fleet Services IFSC Ltd., a GIFT City-registered subsidiary of Air India, is the borrower of the loan, the people said, who asked not to be identified discussing private matters Bloomberg By Mihir Mishra and Saikat Das Air India is seeking a bank loan of about $200 million to purchase a fleet of Boeing 777 planes from a US-based aircraft leasing company, according to people familiar with the matter. AI Fleet Services IFSC Ltd., a GIFT City-registered subsidiary of Air India, is the borrower of the loan, the people said, who asked not to be identified discussing private matters. The group, which operates two airline brands — the full-service carrier Air India and the low-cost alternative Air India Express — purchases and leases aircraft via this entity. The talks for the fund-raising, which started earliler this year, had slowed after the crash of Air India's Boeing 787 Dreamliner in Ahmedabad last month, the people said, but discussions have since revived and the deal's details could still change. The purchase of aircraft takes place as Air India struggles to expand its fleet due to supply chain constraints impacting deliveries and its ability to get planes from the open market. Since Tata Group took over Air India in January 2022, the airline has placed orders for 570 new aircraft with Airbus and Boeing in over three years. The company could expedite the deliveries of narrow body Boeing 737 Max jets by taking possession of 50 planes that were meant mainly for Chinese carriers. A representative for Air India declined to comment. Air India is currently operating the six Boeing 777 aircraft that it is seeking to buy, said some of the people. Some of the planes are between 11 and 13 years old and are mainly for the airline's India-US routes, according to flight tracking website Flightradar24. Such purchases are to ensure that Air India has enough planes to operate with until the delivery of new aircraft takes place, the people said. The pricing of the proposed loan could be linked to the benchmark Secured Overnight Financing Rate, they added.
Time of India
a day ago
- Business
- Time of India
Air India seeks $200 million loan to buy fleet of Boeing 777
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Air India is seeking a bank loan of about $200 million to purchase a fleet of Boeing 777 planes from a US-based aircraft leasing company , according to people familiar with the matter. AI Fleet Services IFSC Ltd. , a GIFT City-registered subsidiary of Air India, is the borrower of the loan, the people said, who asked not to be identified discussing private matters. The group, which operates two airline brands — the full-service carrier Air India and the low-cost alternative Air India Express — purchases and leases aircraft via this talks for the fund-raising, which started earliler this year, had slowed after the crash of Air India's Boeing 787 Dreamliner in Ahmedabad last month, the people said, but discussions have since revived and the deal's details could still purchase of aircraft takes place as Air India struggles to expand its fleet due to supply chain constraints impacting deliveries and its ability to get planes from the open Tata Group took over Air India in January 2022, the airline has placed orders for 570 new aircraft with Airbus and Boeing in over three years. The company could expedite the deliveries of narrow body Boeing 737 Max jets by taking possession of 50 planes that were meant mainly for Chinese carriers.A representative for Air India declined to India is currently operating the six Boeing 777 aircraft that it is seeking to buy, said some of the people. Some of the planes are between 11 and 13 years old and are mainly for the airline's India-US routes, according to flight tracking website purchases are to ensure that Air India has enough planes to operate with until the delivery of new aircraft takes place, the people said. The pricing of the proposed loan could be linked to the benchmark Secured Overnight Financing Rate, they added.
Yahoo
a day ago
- Automotive
- Yahoo
Who Builds Boeing's Jet Engines, And Are They The Same As Airbus Uses?
American aerospace giant Boeing has taken a bit of tarnish of late. A pair of deadly crashes and other lesser malfunctions have sullied the reputations of the latest iterations of the brand's 737 Max aircraft, but those concerns don't extend to the jets' powerful engines. Boeing is responsible for building the 737's iconic flat-bottomed nacelles, or casings, which house the engines. However, the turbofan powerplants themselves are farmed out to various global manufacturers. The world's largest producer of jet engines, including for Boeing, is a joint venture called CFM. The two entities behind CFM are General Electric and the French manufacturer Safran. As part of its 39% global market share, CFM's fuel-efficient Leading Edge Aviation Propulsion (LEAP) engines power every one of Boeing's 737 Max aircraft. Coincidentally, engines from this brand can also be found on some Airbus A320 jets, a competitor to the 737 that's assembled largely in Europe. Of course, Boeing doesn't just build the 737. Other commercial Boeing jets include the venerable widebody 777 and the high-tech 787 Dreamliner, both of which are staples of long-haul or high-capacity routes, such as between the United States and Europe. And the engines there are made by others. Read more: Nobody Does Land Yachts Like Cadillac, And These Are Five Of The Best Ones Rolls-Royce Doesn't Only Build Cars Before Rolls-Royce started selling bougie land yachts, it was known for its airplane engines. For example, its Merlin engine was a force to be reckoned with in fighter planes during World War II. Over 120 years since its inception, Rolls-Royce is still in the aeronautical sector with a 12% market share. In particular, its products can be found in many long-haul widebody jets. Rolls' Trent 1000 powers some Boeing 787 Dreamliner jets, and Rolls says the plane is 25% more fuel-efficient than its predecessor, the Boeing 767. Rolls-Royce engines also propel some examples of the widebody Boeing 777, the fuel-guzzling double-decker 747, and what remains of the largest single-aisle jet ever, the Boeing 757. Like CFM, Rolls-Royce prefers to diversity its clientele and happily accepts engine purchases from Airbus, too — for example, the Airbus A330 and A350 long-haul jets. Next up is General Electric, which also has a fairly small — about 14% — share of worldwide jet engine manufacturing. That's understandable, since most of its involvement in aerospace is via the CFM joint venture with Safran. Alone, GE turbofan engines appear on both Boeing and Airbus products in small quantities. Especially the Boeing double-aisle widebodies. An American Company Hit Big With EU's Airbus (But Sells To Boeing, Too) Finally, we come to Pratt & Whitney, a veritable institution in American aviation since 1917. When it's not building engines for fighter jets or cruise missiles, P&W captures about 35% of the market for commercial jet engines. That includes a presence at some level in nearly all Boeing products, excepting newer models like the 737 Max and 787 Dreamliner. P&W sells to Airbus, too. Notably, its engines are the only ones used in the new-ish A220 narrow-body jet, a feather in the company's cap to be sure. So there you have it. Boeing uses four sources to procure jet engines for its planes: CFM, General Electric, Pratt & Whitney, and Rolls-Royce. And not a single one of those companies has a problem crossing the aisle to sell to rival manufacturer Airbus. Clearly, some passengers prefer one aircraft brand or another — for example, avoiding airlines with the largest Boeing fleets following an awful 2024 for the brand. However, under the engine nacelles, there's little difference to be had between the two aircraft giants. Want more like this? Join the Jalopnik newsletter to get the latest auto news sent straight to your inbox... Read the original article on Jalopnik.
Daily Mail
2 days ago
- General
- Daily Mail
BREAKING NEWS Alaska Airlines requests ground stop for all its mainline aircrafts
Alaska Airlines has requested a ground stop for all mainline aircraft across the United States. The US Federal Aviation Administration updated its status page on Sunday with the extraordinary request. The reason for the request was not immediately clear. Alaska Airlines and the FAA did not immediately respond to Reuters requests for comment outside regular business hours. The FAA status page showed all destinations being impacted by the ground stop of Alaska's mainline aircraft. It comes weeks after a damning report revealed that major errors by Boeing led to a door plug flying off an Alaska Airlines 737 Max mid flight, putting the lives of 175 passengers and crew at risk. The National Transportation Safety Board said a flawed manufacturing process within Boeing and insufficient regulatory oversight caused the near catastrophic disaster. 'An accident like this only happens when there are multiple system failures,' NTSB chairman Jennifer Homendy said. The NTSB has been investigating what went so wrong just six minutes into the January 2024 flight from Portland, Oregon, to Ontario, California. The initial probe found four key bolts that were meant to hold the door plug in place were were missing from the aircraft. It has since been established the door left Boeing's factory in Renton, Washington without those crucial bolts. Just one of those bolts, if properly secured, would have held the door panel in place, and the other three were supposed to be used as an additional safety mechanism. No fault was found with Alaska Airlines crew qualifications or preflight inspections. The heroic actions of the crew of Alaska Airlines flight 1282 ensured everyone survived, Homendy found.
Business Times
5 days ago
- Business
- Business Times
Garuda new 737 plane's higher rent may strain finances further
[JAKARTA] Garuda is paying twice as much to lease its latest Boeing 737 Max jet than it does for the older 737 planes in its fleet, another potential blow to its finances as it tries to return to profitability. The struggling Indonesian airline is paying around US$400,000 per month for the 737 Max 8 it has leased from BOC Aviation, according to people familiar with the matter. The state-owned carrier pays on average US$200,000 a month for its existing older Boeing 737-800 fleet, the people said, asking not to be identified discussing details that are private. BOC Aviation declined to comment. Representatives for Garuda didn't respond to a request for comment. Garuda, which is now owned by Indonesia's sovereign wealth fund Danantara, reported a full year loss in 2024 for the first time since restructuring nearly US$10 billion of debt in 2022. While the new Max 8 offers better fuel economy than the older planes, it's not clear whether the savings would be enough to compensate for the higher leasing costs. Outside of the difference in the age of the airframe, the doubling of the lease cost can in large part be attributed to the discounted rental prices that Garuda managed to get from its lessors during those debt restructuring negotiations. Danantara extended a US$405 million loan to Garuda just days before the airline agreed to lease the additional 737 Max. On Friday, the plane was en-route to Indonesia, according to data from flight tracking website FlightRadar24. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Garuda is already having trouble keeping its existing fleet in the air, with about 10 per cent of its planes grounded as recently as May as it struggled to make maintenance payments. Nearly 16 per cent of revenue in 2024 was for maintenance and repairs, the highest ratio among flag carriers globally, data compiled by Bloomberg show. Garuda could receive US$800 million to US$1.2 billion more from Danantara to assist with payments to maintenance and leasing companies, Bloomberg reported earlier this week, citing people familiar with the matter. Further pressure on the airline may come as it has to take new aircraft after Indonesian President Prabowo Subianto reached a trade deal with US leader Donald Trump that included the purchase of 50 Boeing aircraft. That could force Garuda to agree to a deal under terms it doesn't necessarily favour and with jets it doesn't actually need. Trump announced in a social media post on Tuesday that Indonesia will order 50 aircraft, including 'many' of Boeing's larger 777 planes, without disclosing a buyer. Garuda chief executive officer Wamildan Tsani Panjaitan has previously said he's in talks to buy 50 to 75 Boeing aircraft, including 737 Max and 787-9 Dreamliner models. BLOOMBERG
