Latest news with #DarrenHulst
Skift
3 days ago
- Business
- Skift
Boeing's Transparency Push as Air India Investigation Continues
Following a rare public update after last week's crash, we now have a clearer view of how Boeing plans to manage consumer, customer, and regulatory relationships. Skift's coverage of the Air India crash is offered free to all readers. Boeing is pledging open communication and its commitment to 'long-term values' as it navigates the fallout from last week's Air India crash. The investigation into the June 12 tragedy involving a 787 Dreamliner plane is ongoing. Speaking at a media briefing attended by Skift on the fringes of the Paris Air Show, Darren Hulst, Boeing's VP of Commercial Marketing, offered fresh insights into the company's position. While the cause of the crash remains unknown, Boeing has emphasized its support for the official investigation being conducted under ICAO's Annex 13 framework. Both the cockpit voice recorder and flight data recorder have been recovered. This is a critical step in helping officials determine what happened in the final moments of the flight. Hulst confirmed that Boeing is providing on-the-ground support to Air India, a role he said will continue throughout the investigation: 'We will continue to support our customers. We're there on the ground today with our partners at Air India to support them, and that is not going to change.' Long-Term Impact on Boeing Unclear Asked if the crash could affect future demand for Boeing products, Hulst said it was hard to answer the question given the early stage of the investigation. However, he did underscore the importance of transparency and trust: 'There's too many things that we don't know… but the relationships, the transparency, and the focus that we've had in working with our customers… that's a function of the long-term values that we've had for safety and quality.' Despite last week's tragedy, Hulst suggested that passengers shouldn't have concerns about traveling on a Boeing plane: 'I'm confident, our customers are confident, and the flying public should be confident in that dedication in terms of what that means for the safety of our aircraft.' It comes as an exclusive Skift Research survey of Indian travelers, conducted after the June 12 accident, highlighted fragility in traveler confidence. Of the respondents who had recently taken a flight, 51% said they had actively avoided certain airlines over the past year due to safety concerns. An additional 28% said they steered clear of specific routes or situations. Only 5% reported having no concerns about airline safety at all. The surveillance of Air India's Boeing 787 fleet has not revealed "any major safety concerns" so far, Indian civil aviation regulator Directorate General of Civil Aviation (DGCA) said June 17. The DGCA added that "the aircraft and associated maintenance systems were found to be compliant with existing safety standards." Boeing's Broader Challenges There's no indication at this stage that Boeing is responsible for the crash. However, its association with the tragedy is unwelcome. The company was already navigating a years-long safety crisis following the two fatal 737 Max crashes and the Alaska Airlines blowout incident. The 787 was also the center of a congressional hearing last year when multiple whistleblowers testified about alleged safety issues to the Senate subcommittee on investigations. The incidents and subsequent fall-out have seen Boeing lose billions of dollars and multiple executive shuffles in recent years. Boeing recently reached a $1.1 billion deal with the U.S. Justice Department over fatal 737 Max crashes of 2018 and 2019, which would allow it to avoid criminal charges. As part of the deal, Boeing has to admit to obstructing federal oversight, offer compensation to the victims, and work to improve its safety, compliance, and quality programs. Despite the negative headlines, demand for Boeing products remains robust. The company recently reported its highest number of plane orders since December 2023, with gross orders reaching 303 aircraft in May. The firm delivered 45 aircraft in May – matching April's total, and nearly double year-over-year – as it works to improve production. Inside Air India's First 24 Hours of Crisis Response Air India CEO Campbell Wilson moved fast after one of the biggest aviation tragedies in history. But the next days and weeks will define the airline. Read More What am I looking at? The performance of airline sector stocks within the ST200. The index includes companies publicly traded across global markets including network carriers, low-cost carriers, and other related companies. The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. See more airlines sector financial performance. Read the full methodology behind the Skift Travel 200.
The National
3 days ago
- Business
- The National
Passengers 'should be confident' about safety of Boeing planes
A senior Boeing executive has reassured passengers about the safety and quality of the plane maker's aircraft, but declined to comment directly on the Air India crash as the investigation continues. Darren Hulst, Boeing's vice president of marketing, was speaking during a press briefing at the Paris Air Show. 'With regards to the Air India tragedy, our hearts, our thoughts and our prayers are with all the families that have been impacted by this, as well as our partner and long-term customer Air India,' he said. Mr Hulst insisted customers and passengers 'should be confident' about the safety of Boeing aircraft. 'Longer term, we all know how important safety and quality are to our business,' he added. Boeing has scaled back its presence at the biennial show in Le Bourget on the outskirts of the French capital following the crash involving one of its 787 wide-body jets operated by Air India last week. Chief executive Kelly Ortberg and head of commercial planes unit Stephanie Pope both withdrew from the event and the US manufacturer has yet to announce any new orders at the expo. The Air India crash is the another setback for Boeing, which had been in the process of rebuilding trust after a series of safety and production quality lapses. Asked whether the accident has dented customer confidence and if it could affect demand for the 787 Dreamliner, Mr Hulst suggested it is too early in the investigation to come to any conclusions. 'Demonstrating and proving that credibility over time is not just something that we do overnight,' he said. Re-establishing that credibility is part of a long-term commitment to re-instil safety and quality values throughout the business while continuing to communicate with customers, Mr Hulst explained. 'We will continue to support our customers,,' he added. 'We're there on the ground today with our partners at Air India to support them and that is not going to change. 'In the longer term, those values continue to drive how we build, how we design and how we support our fleets. I have full confidence in that continuing.' Mr Hulst was speaking as Boeing released its 20-year commercial market forecast, which shows that there is global demand for 43,600 new passenger and freighter jets by 2044. Meanwhile, India's aviation safety regulator said on Tuesday that it found no major safety issues with Air India's fleet of Boeing 787 jets during its inspections, following the crash last week that killed all but one of the 242 people on board flight AI 171. The Directorate General of Civil Aviation completed one-time checks on 24 of the 33 Boeing 787 Dreamliner aircraft operated by the carrier, Bloomberg reported, citing a statement from the regulator. Air India is operating 27 of the jets, though six are currently grounded for maintenance, the DGCA said. While Boeing's presence at the Paris Air Show was muted, European rival Airbus on Tuesday announced a deal with budget airline VietJet for up to 150 single-aisle aircraft. The Vietnamese airline has ordered 100 of the A321 Neo aircraft, with the potential to add another 50 in the future, Airbus said.
Mint
5 days ago
- Business
- Mint
From tech snag to bomb threat: Boeing share price in focus amid fresh troubles
Boeing share price: Plagued by fresh troubles — ranging from technical snags to bomb threat reports — a few days after the Ahmedabad plane crash, shares of Boeing Company looked set to decline for the fifth day in a row. Boeing share price was trading flat with a negative bias in pre-open trade on Monday, June 16, at $200.2 apiece, down 0.06%. The aircraft manufacturer has also seen its stock slide by over 8% in the last four days. The stock's biggest fall in the last four sessions of 4.8% came on Thursday after the Boeing 787 Dreamliner aircraft, travelling from London to Ahmedabad, crashed into a complex of B J Medical College in the Meghaninagar area shortly after taking off, resulting in the death of 265 people. In signs of fresh troubles, an Air India plane, using the same type of Boeing aircraft, bound for New Delhi returned to its origin of Hong Kong as a precautionary measure on Monday after a technical issue was suspected mid-air, the latest incident affecting the airline in recent days. In a separate incident, a Lufthansa flight to Hyderabad was forced to make a U-turn and return to land at Frankfurt Airport due to a bomb threat. The Boeing 787-9 Dreamliner's return mid-air came as a Chennai-bound British Airways Flight BA35, also a Dreamliner, returned to London Heathrow Airport on Sunday over a 'technical issue'. "The aircraft returned to Heathrow as a standard precaution after reports of a technical issue," British Airways said in a statement. Recently, Boeing also pared down its 20-year forecast for passenger traffic growth from 4.7% in last year's outlook to 4.2% this year. Likewise, it lowered its global economic growth forecast from 2.6% to 2.3%, cargo traffic growth from 4.1% to 3.7% and fleet growth from 3.2% to 3.1%, according to a Reuters report. Despite the lower projection for cargo traffic, Boeing Vice President of Commercial Marketing Darren Hulst told reporters in a briefing that trade volatility is not expected to significantly shift long-term demand. (With inputs from agencie) Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
New York Post
5 days ago
- Business
- New York Post
Boeing slightly trims projection for 20-year jet demand
Boeing expects global demand for air travel to increase by more than 40% by 2030, driving the need for thousands of new jetliners in the next few years, according to its 20-year demand forecast for commercial airliners released Sunday ahead of the Paris Airshow. The company expects demand for 43,600 new airliners through 2044. That is essentially the same as last year's edition, which projected demand for 43,975 new deliveries through 2043. European rival Airbus last week revised up its own 20-year commercial demand forecast by 2% to 43,420 jets, saying the air transport industry was expected to ride out current trade tensions. Boeing expects demand for 43,600 airliners through 2024. Getty Images Boeing's delivery projection includes nearly 33,300 single-aisle airliners, just over 7,800 widebody jets, 955 factory-built freighters and 1,545 regional jets. Single-aisle jets include the 737 MAX and competitor Airbus's A320neo family and make up roughly four of every five deliveries now. While Boeing's deliveries projection is roughly the same, it pared down its 20-year forecast for passenger traffic growth from 4.7% in last year's outlook to 4.2% this year. Likewise, it lowered its global economic growth forecast from 2.6% to 2.3%, cargo traffic growth from 4.1% to 3.7% and fleet growth from 3.2% to 3.1%. Despite the lower projection for cargo traffic, Boeing Vice President of Commercial Marketing Darren Hulst told reporters in a briefing that trade volatility is not expected to significantly shift long-term demand. 'I think we need to point back to the perspective that the last 20, 40, 60 years have given us in terms of the value of air cargo, and the fact that it's roughly a 4% growth market through all this time,' he said. Since COVID-19, air travel demand has bounced back, but airplane production is only half or even less than what it was before the pandemic, resulting in a shortage of 1,500 to 2,000 airliners, he said. Both Airbus and Boeing have struggled to return aircraft production to pre-pandemic levels. Boeing has been dealing with production safety concerns following a 2024 mid-air blowout of a panel on a nearly new Alaska Airlines 737 MAX. As a result, the U.S. Federal Aviation Administration capped 737 production at 38 airplanes a month. Plane production is only half or even less than what it was before the COVID-19 pandemic, according to Boeing Vice President of Commercial Marketing Darren Hulst Getty Images Boeing has significantly improved production quality in recent months, but the crash of an Air India Boeing 787-8 Dreamliner on Thursday put it back in crisis mode. CEO Kelly Ortberg canceled his plans to attend the Paris Airshow in order to assist with the crash investigation. Global air travel is projected to increase by more than 40% by 2030, compared to the pre-pandemic high, according to the forecast. During the next 20 years, Boeing expects about 51% of demand for new aircraft to come from growth rather than replacing older airplanes. China and South/Southeast Asia, which includes India, are expected to account for half of that additional capacity, according to the outlook. North America and Eurasia account for more than half of projected deliveries for replacing older aircraft. China makes up an estimated 10% of Boeing's existing order backlog. The country paused taking delivery of new Boeing aircraft as China and the U.S. clashed over tariffs. However, deliveries are expected to resume this month, Ortberg said in May during an investors conference.
Malay Mail
6 days ago
- Business
- Malay Mail
Boeing trims 2044 global air fleet forecast to 49,600 planes as supply chain issues slow deliveries
NEW YORK, June 15 — The global commercial aviation fleet will stand just under 50,000 planes in 2044, with most built over the next 20 years, according to a Boeing forecast released yesterday. The global fleet will nearly double to 49,600, a bit below Boeing's prior annual outlook, the company said ahead of the giant Paris Air Show beginning tomorrow. Emerging markets 'with expanding middle classes, dynamic and competitive airline networks and sustained aviation investment' will represent more than 50 per cent of the commercial fleet in 2044, up from nearly 40 per cent in 2024, Boeing said. But the forecast also shows the effects of supply chain difficulties in the wake of the Covid-19 pandemic. 'The supply chain has probably had a small role in our slight reduction in deliveries over the next 20 years,' Boeing vice president of Commercial Marketing Darren Hulst said at a briefing on Tuesday. The briefing came before Thursday's deadly Air India crash of a Boeing 787 Dreamliner. Following the crash, which has killed at least 279 people, Boeing CEO Kelly Ortberg and commercial plane chief Stephanie Pope cancelled plans to attend. The Boeing forecast projects annual passenger growth of 4.2 per cent, above the 2.3 per cent annual growth in GDP. 'New aircraft deliveries haven't been able to keep up with the demand,' said Hulst, who estimates that problem has resulted in a 'cumulative shortage' of some 1,500 to 2,000 planes. But Hulst expects the cadence of deliveries to pick up between now and the end of the current decade. Of the 43,600 new planes required between now and 2044, an estimated 21,100 will replace existing fleet and 22,500 will be needed to address rising demand in China and emerging markets. These figures indicate an expected dramatic expansion of the global air fleet over four decades from 2004, when the fleet consisted of just 16,780 planes. In a sign of how the aviation market has changed, the 10 biggest aviation companies in 2004 accounted for 45 per cent of the global fleet and were dominated by companies from North American and Europe. But today's top 10 account for just 30 per cent of the market and are composed of a greater share of companies from Asia and the Middle East — a region that had no companies in the top 10 in the earlier period. — AFP
