Rough ride: The Boeing logo sits on the side of a 737 Max aircraft in the UK. The company has announced fresh cuts to production plans to reflect weaker demand for both its grounded 737 Max and the wide-body 787 and 777 models. — Bloomberg
IT WOULD be hard for things to get much worse in commercial aerospace, an industry hit particularly hard by the global Covid-19 pandemic.
Sober tones and a slew of writedowns out of industry stalwarts Boeing Co and General Electric Co (GE) provided more evidence of just how dour the outlook is from here.
Second-quarter results from the two companies on Wednesday were predictably bleak for a period that included the worst of the coronavirus slump in air travel and a rush to ground unneeded planes, retire older models and cancel orders for new ones.
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