Update 2: The Nordic budget airline Primera Air has agreed to buy eight of Boeing's new 737 Max aircraft for more than US$950 million at list prices, and has an option to buy an additional four planes, the companies said on Thursday.
Primera said it wanted the new planes as it plans to start offering transatlantic flights, the latest low-cost European carrier to do so after Norwegian Air, Eurowings and British Airways’ Level.
The order also includes the sale of another eight 737 Max planes to Air Lease Corp, which will lease them in turn to Primera – bringing the total order to 20 planes. The companies did not disclose the value of the total order.
Update 1: The head of Safran's aircraft engines division said his company aimed to fix the Boeing plane engine glitch within weeks.
Safran discovered a quality problem in turbine disks provided by one of two suppliers, and it is not related to the part’s design, said the Safran Aircraft Engines chief executive Olivier Andries.
“There will be a temporary disruption to the logistics which we hope to fix within a few weeks,” said Mr Andries, speaking at a factory outside Paris where it co-produces the engines with General Electric.
Safran will fly part of the engines it has already delivered to Boeing back from the United States to its French factory, inspect them and return them to Boeing. It will take about a week for each engine and Safran is putting in place resources to handle several at once, Mr Andries said.
Boeing said it would temporarily suspend flights of its new 737 Max jetliner because of a potential manufacturing flaw in the engines, marring the commercial debut for the fastest-selling plane in company history.
The jet maker and its engine supplier, a venture of General Electric and Safran, are rushing to understand the problem ahead of the jet’s commercial debut, which remains scheduled for later this month. Boeing said a possible quality defect in the Leap engine arose during inspections and did not affect flight testing of the upgraded 737.
The grounding added to concerns about the strain on suppliers as the US manufacturer and European rival Airbus unveil new aircraft models while boosting single-aisle production to record levels. Boeing is counting on a smooth roll-out of the 737 Max, the newest version of a plane that is the company’s largest source of profit, as it seeks to boost cash flow.
“Investors are acutely focused on 737 Max ramp risk – and the impact on cash,” said Robert Stallard, an analyst at Vertical Research Partners, said in a note to clients.
Boeing fell 1.2 per cent to $183.18 at the close in New York. GE dropped 0.8 per cent to $28.70.
The 737 Max has accumulated 3,714 orders before its commercial debut. The latest 737 model is slated to be handed over this month to Indonesia’s Malindo Air. Other major customers with deliveries this year include Southwest Airlines, Norwegian Air Shuttle and American Airlines Group.
Airbus said it is continuing normal flight operations on aircraft powered by Leap engines as the European plane maker uses a different version of the engine from those supplied to Boeing.
Asked whether Airbus continued to carry out development test flights and pre-delivery test flights on A320neo-family aircraft powered by the Leap-1A engine, made by GE-Safran venture CFM International, a spokesman for the jet maker said: “Yes we are”.
GE said Safran had found the problem in a disc used in the low-pressure turbine at the rear of the Leap-1B engine used by Boeing. Safran was not immediately available for comment.
* Agencies
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POWERWASH%20SIMULATOR
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Hotel Silence
Auður Ava Ólafsdóttir
Pushkin Press
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Company%20Profile
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A list of the animal rescue organisations in the UAE
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Martin Sabbagh profile
Job: CEO JCDecaux Middle East
In the role: Since January 2015
Lives: In the UAE
Background: M&A, investment banking
Studied: Corporate finance
Company%20profile
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Western Region Asia Cup T20 Qualifier
Sun Feb 23 – Thu Feb 27, Al Amerat, Oman
The two finalists advance to the Asia qualifier in Malaysia in August
Group A
Bahrain, Maldives, Oman, Qatar
Group B
UAE, Iran, Kuwait, Saudi Arabia
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
Specs%20
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Race card
6.30pm: Emirates Holidays Maiden (TB), Dh82,500 (Dirt), 1,900m
7.05pm: Arabian Adventures Maiden (TB), Dh82,500 (D), 1,200m
7.40pm: Emirates Skywards Handicap (TB), Dh82,500 (D), 1,200m
8.15pm: Emirates Airline Conditions (TB), Dh120,000 (D), 1,400m
8.50pm: Emirates Sky Cargo (TB), Dh92,500 (D)1,400m
9.15pm: Emirates.com (TB), Dh95,000 (D), 2,000m
UEFA CHAMPIONS LEAGUE FIXTURES
All kick-off times 10.45pm UAE ( 4 GMT) unless stated
Tuesday
Sevilla v Maribor
Spartak Moscow v Liverpool
Manchester City v Shakhtar Donetsk
Napoli v Feyenoord
Besiktas v RB Leipzig
Monaco v Porto
Apoel Nicosia v Tottenham Hotspur
Borussia Dortmund v Real Madrid
Wednesday
Basel v Benfica
CSKA Moscow Manchester United
Paris Saint-Germain v Bayern Munich
Anderlecht v Celtic
Qarabag v Roma (8pm)
Atletico Madrid v Chelsea
Juventus v Olympiakos
Sporting Lisbon v Barcelona
Spain drain
CONVICTED
Lionel Messi Found guilty in 2016 of of using companies in Belize, Britain, Switzerland and Uruguay to avoid paying €4.1m in taxes on income earned from image rights. Sentenced to 21 months in jail and fined more than €2m. But prison sentence has since been replaced by another fine of €252,000.
Javier Mascherano Accepted one-year suspended sentence in January 2016 for tax fraud after found guilty of failing to pay €1.5m in taxes for 2011 and 2012. Unlike Messi he avoided trial by admitting to tax evasion.
Angel di Maria Argentina and Paris Saint-Germain star Angel di Maria was fined and given a 16-month prison sentence for tax fraud during his time at Real Madrid. But he is unlikely to go to prison as is normal in Spain for first offences for non-violent crimes carrying sentence of less than two years.
SUSPECTED
Cristiano Ronaldo Real Madrid's star striker, accused of evading €14.7m in taxes, appears in court on Monday. Portuguese star faces four charges of fraud through offshore companies.
Jose Mourinho Manchester United manager accused of evading €3.3m in tax in 2011 and 2012, during time in charge at Real Madrid. But Gestifute, which represents him, says he has already settled matter with Spanish tax authorities.
Samuel Eto'o In November 2016, Spanish prosecutors sought jail sentence of 10 years and fines totalling €18m for Cameroonian, accused of failing to pay €3.9m in taxes during time at Barcelona from 2004 to 2009.
Radamel Falcao Colombian striker Falcao suspected of failing to correctly declare €7.4m of income earned from image rights between 2012 and 2013 while at Atletico Madrid. He has since paid €8.2m to Spanish tax authorities, a sum that includes interest on the original amount.
Jorge Mendes Portuguese super-agent put under official investigation last month by Spanish court investigating alleged tax evasion by Falcao, a client of his. He defended himself, telling closed-door hearing he "never" advised players in tax matters.
Oppenheimer
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