A Boeing 777X airplane takes off on its inaugural flight at Paine Field in Everett, Washington on January 25, 2020. AFP.
A Boeing 777X airplane takes off on its inaugural flight at Paine Field in Everett, Washington on January 25, 2020. AFP.
A Boeing 777X airplane takes off on its inaugural flight at Paine Field in Everett, Washington on January 25, 2020. AFP.
A Boeing 777X airplane takes off on its inaugural flight at Paine Field in Everett, Washington on January 25, 2020. AFP.

Business

Boeing set to delay 777X as Covid-19 crisis clips demand for wide-body jets

The company is continuing test flights for the model, which was expected to be delivered to its first customers next year, according to Reuters

Deena Kamel
Deena Kamel

July 25, 2020

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Boeing is planning to delay the debut of its new 777X jet by several months or up to a year as the coronavirus crisis clips demand for the industry's biggest aircraft.

The Chicago-based plane maker aims to deliver the jet as passenger air travel recovers from the slump caused by the pandemic, Reuters reported, citing sources familiar with the matter. It also hopes for a thaw in the trade war between Washington and Beijing that has kept crucial Chinese aircraft buyers at bay.

The announcement of the delay may come as soon as next week when Boeing announces its earnings, Reuters said.

Boeing said it was continuing 777X flight tests and “working closely with our customers around the world as they continue to adapt to the evolving Covid-19 situation”. It declined to comment on the 777X timeline.

Emirates, the aircraft’s top customer, does not expect to receive any 777X planes before 2022, Bloomberg reported earlier this month, citing Adel Al Redha, the carrier’s chief operating officer.

A Boeing 777X airliner lifts off for its first flight at Paine Field in Everett, Washington. AP
A Boeing 777X airliner lifts off for its first flight at Paine Field in Everett, Washington. AP
A Boeing 777X lands at Boeing Field in Seattle, after its first flight. AP
A Boeing 777X lands at Boeing Field in Seattle, after its first flight. AP
Boeing employees and other guests cheer the 777X after its landing. AP
Boeing employees and other guests cheer the 777X after its landing. AP
Boeing employees and guests take photos as they welcome a Boeing 777X airplane returning from its inaugural flight. AFP
Boeing employees and guests take photos as they welcome a Boeing 777X airplane returning from its inaugural flight. AFP
Test Pilot Van Chaney talks with reporters after flying a Boeing 777X in its first test flight at the company's facility in Seattle. Reuters
Test Pilot Van Chaney talks with reporters after flying a Boeing 777X in its first test flight at the company's facility in Seattle. Reuters
Test Pilot Craig Bomben celebrates after flying a Boeing 777X on its first test flight at the company's facility in Seattle. Reuters
Test Pilot Craig Bomben celebrates after flying a Boeing 777X on its first test flight at the company's facility in Seattle. Reuters
Boeing Commercial Airplanes CEO Stan Deal cheers at Boeing Field following the first flight of the Boeing 777X airliner in Seattle, Washington. AFP
Boeing Commercial Airplanes CEO Stan Deal cheers at Boeing Field following the first flight of the Boeing 777X airliner in Seattle, Washington. AFP
Boeing Commercial Airplanes CEO Stan Deal walks through a crowd in a hangar at Boeing Field following the first flight of the Boeing 777X airliner in Seattle, Washington. AFP
Boeing Commercial Airplanes CEO Stan Deal walks through a crowd in a hangar at Boeing Field following the first flight of the Boeing 777X airliner in Seattle, Washington. AFP
Boeing 777X chief test pilot Van Chaney, right, and co-pilot Craig Bomben, Boeing's VP Flight operations and chief test pilot, emerge from the 777X after landing at Boeing Field in Seattle. AP
Boeing 777X chief test pilot Van Chaney, right, and co-pilot Craig Bomben, Boeing's VP Flight operations and chief test pilot, emerge from the 777X after landing at Boeing Field in Seattle. AP
Boeing employees and guests watch coverage as they welcome a Boeing 777X airplane returning from its inaugural flight at Boeing Field in Seattle. AFP
Boeing employees and guests watch coverage as they welcome a Boeing 777X airplane returning from its inaugural flight at Boeing Field in Seattle. AFP

Boeing's 777X is expected to miss its planned debut in 2021 when the larger version of the 777 mini-jumbo was supposed to be delivered to customers.

The plane is already behind schedule after facing glitches with its General Electric GE9X engines, among other issues.

Another delay is now likely in the cards but Boeing wants to get production “going hard” to put planes in the air by 2022-2023, Reuters reported.

Aircraft buyers are reluctant to take delivery of large aircraft when the pandemic has forced them to shrink operations.

The 777X will be the first new jet to be introduced since the grounding of Boeing's 737 Max following two fatal crashes, so it is expected to face greater scrutiny from the US Federal Aviation Administration (FAA) and other global aviation regulators.

What are the influencer academy modules?
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  4. Emerging technologies and VFX with AI and CGI.
  5. Understanding of marketing objectives and audience engagement.
  6. Tourism industry knowledge.
  7. Professional ethics.
UAE currency: the story behind the money in your pockets
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Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)

How to keep control of your emotions

If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.

10 tips for entry-level job seekers
  • Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
  • Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
  • Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
  • For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
  • Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
  • Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
  • Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
  • Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
  • Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
  • Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.

Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz

Indian origin executives leading top technology firms

Sundar Pichai

Chief executive, Google and Alphabet

Satya Nadella

Chief executive, Microsoft

Ajaypal Singh Banga

President and chief executive, Mastercard

Shantanu Narayen

Chief executive, chairman, and president, Adobe

Indra Nooyi  

Board of directors, Amazon and former chief executive, PepsiCo

 

 

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