Boeing’s 737 Max programme has once again been hit with cancellations as its customers readjust their capacity plans and order books to suit a post-Covid-19 world.
China Development Bank’s (CDB) aircraft leasing arm has cancelled an order for 29 undelivered 737 Max jets but still plans to take delivery of 70 of the planes.
“In light of evolving aviation market dynamics, we’ve been working together with Boeing over many months to re-calibrate our MAX order book to be in line with our long-term view of the market and related opportunities,” Xuedong Wang, chairman of CDB Financial unit CDB Aviation revealed.
Boeing has suffered a string of 737 Max cancellations amounting to 150 in March as airlines and lessors grapple with a liquidity crunch.
Brazilian airline Gol, last week cancelled an order for 34 Max’s while aircraft lessor Avolon previously pulled an order for 75 of the planes.
Boeing’s Max has been grounded for over a year following two fatal crashes. The manufacturer had hoped to bring the aircraft back into service by the summer but with airlines worldwide grounded, the appetite for new jets is slim.
Production of the 737 Max was frozen in January while Boeing focused instead on delivering units. With airlines deferring deliveries, a large number of Max’s are currently in storage.
Boeing’s first quarter results will be published on 29 April.
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