Major aircraft lessor Avolon says Boeing has 'lost its way'
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
  • Epaper
  • More
    • Subscribe
    • COVID-19
    • Bangladesh
    • Splash
    • Videos
    • Games
    • Long Read
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard

Thursday
July 07, 2022

Sign In
Subscribe
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
  • Epaper
  • More
    • Subscribe
    • COVID-19
    • Bangladesh
    • Splash
    • Videos
    • Games
    • Long Read
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
THURSDAY, JULY 07, 2022
Major aircraft lessor Avolon says Boeing has 'lost its way'

World+Biz

Reuters
05 May, 2022, 11:40 pm
Last modified: 05 May, 2022, 11:42 pm

Related News

  • Boeing disappointed after China's top three airlines buy 300 Airbus planes
  • Boeing chief says no plan for equity raise
  • Boeing clashes with key supplier ahead of Starliner spacecraft launch
  • Boeing shares plunge on array of charges, 737 MAX target in doubt
  • Grounded Boeing aircraft of Biman now ready to fly

Major aircraft lessor Avolon says Boeing has 'lost its way'

Reuters
05 May, 2022, 11:40 pm
Last modified: 05 May, 2022, 11:42 pm
The Boeing logo is pictured at the Latin American Business Aviation Conference & Exhibition fair at Congonhas Airport in Sao Paulo, Brazil August 14, 2018. REUTERS/Paulo Whitaker
The Boeing logo is pictured at the Latin American Business Aviation Conference & Exhibition fair at Congonhas Airport in Sao Paulo, Brazil August 14, 2018. REUTERS/Paulo Whitaker

The head of the world's second-largest aircraft leasing company said on Thursday Boeing had "lost its way" and might need new leadership to fix a company culture that had become "totally warped".

The comments by Avolon Chief Executive Domhnal Slattery represented a rare public rebuke of Boeing by a significant customer, albeit one that canceled orders for over 100 737 MAX jets during the Covid pandemic.

Boeing did not immediately respond to an emailed request for comment.

"I think it's fair to say that Boeing has lost its way," Slattery told the Airfinance Journal conference in Dublin, a gathering of the world's aircraft lessors who together own most of the world's passenger jets.

"Boeing has to fundamentally reimagine its strategic relevance in the marketplace," he said, adding that this would require "fresh vision, maybe fresh leadership."

Shares of Boeing fell to a nearly 1-1/2 year low last week after the US planemaker posted a quarterly loss, unveiled $2.7 billion in charges and added costs and expressed doubts over hitting 737 MAX delivery targets. read more

Boeing also announced it was halting 777X production through 2023 and failed to specify when it would resume deliveries of its key twin-aisle 787 Dreamliner model.

"They are burning cash at an unprecedented level. They're probably going to get downgraded," Slattery said.

Slattery said Boeing's culture had become "totally warped" but that the issues could eventually be resolved.

"I have faith that they will figure it out," Slattery said.

boeing / lessor Avolon

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • An LNG tanker at Fauji Oil Terminal & Distribution Co. Ltd. in Karachi.Photographer: Asim Hafeez/Bloomberg
    Pakistan’s $1b gas tender flop to worsen energy crisis
  • Johnson quits as Tory leader, saying will of party is clear
    Johnson quits as Tory leader, saying will of party is clear
  • British Prime Minister Boris Johnson walks outside Downing Street in London, Britain, February 9, 2022. Photo :Reuters
    Boris Johnson’s resignation good for Bangladesh: former BGMEA president Kutubuddin Ahmed

MOST VIEWED

  • An LNG tanker at Fauji Oil Terminal & Distribution Co. Ltd. in Karachi.Photographer: Asim Hafeez/Bloomberg
    Pakistan’s $1b gas tender flop to worsen energy crisis
  • British Prime Minister Boris Johnson walks outside Downing Street in London, Britain, February 9, 2022. Photo :Reuters
    Boris Johnson’s resignation good for Bangladesh: former BGMEA president Kutubuddin Ahmed
  • Pakistan raises policy rate by 125bps to 15%
    Pakistan raises policy rate by 125bps to 15%
  • A Euro banknote is displayed on US Dollar banknotes in this illustration taken on 14 February 2022. Photo: Reuters
    Euro just off two-decade low, volatility highest since March 2020
  • A view shows the Qatar Airways' airbus A350 parked outside Qatar Airways maintenance hangar in Doha, Qatar, June 20, 2022. Photo: Reuters
    Qatar Airways' Boeing 737 deal has lapsed, UK court told
  • The logo of Royal Dutch Shell is seen at a petrol station in Sint-Pieters-Leeuw, Belgium, 30 January, 2019/ Reuters
    Shell gets $1 bln refining boost, upgrades oil and gas assets

Related News

  • Boeing disappointed after China's top three airlines buy 300 Airbus planes
  • Boeing chief says no plan for equity raise
  • Boeing clashes with key supplier ahead of Starliner spacecraft launch
  • Boeing shares plunge on array of charges, 737 MAX target in doubt
  • Grounded Boeing aircraft of Biman now ready to fly

Features

Farsim is keen on listening to what his clients really want; in this profession attention is key. Photo: Noor-A-Alam

Making it as an audio engineer

8h | Pursuit
Illustration: TBS

Applystart: Helping students navigate the maze of foreign university applications

9h | Pursuit
The sea beach in Kuakata. Photo: Syed Mehedy Hasan

Five places in Southern Bangladesh you could visit via Padma Bridge

1d | Explorer
Genex Infosys Limited is the country's largest call centre with more than 2,000 seats and full-set equipment. Photo: Courtesy

How domestic demand made Genex Infosys a BPO industry leader

1d | Panorama

More Videos from TBS

Load shedding is back

Load shedding is back

9h | Videos
Photo: TBS

Has Russia gained anything in its invasion of Ukraine?

10h | Videos
Behind the story of 'Aske Amar Mon Bhalo Nei'

Behind the story of 'Aske Amar Mon Bhalo Nei'

22h | Videos
Is Donbas Putin’s next target?

Is Donbas Putin’s next target?

1d | Videos

Most Read

1
Photo: Collected
Africa

Uganda discovers gold deposits worth 12 trillion USD

2
TBS Illustration
Education

Universities may launch online classes again after Eid

3
Area-wise load shedding schedule will be announced: PM
Bangladesh

Area-wise load shedding schedule will be announced: PM

4
Padma Bridge opens up investment spree in south
Industry

Padma Bridge opens up investment spree in south

5
Build Dhaka East-West Elevated Expressway, relocate kitchen markets: PM
Bangladesh

Build Dhaka East-West Elevated Expressway, relocate kitchen markets: PM

6
File Photo: BSS
Energy

India pulls out of LoC funding for part of Rooppur power transmission work

EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2022
The Business Standard All rights reserved
Technical Partner: RSI Lab
BENEATH THE SURFACE
A boat sails through the River Meghna carrying rice bran, a popular cattle feed, from a rice mill in Ashuganj to cattle markets. There are around 250 rice mills in Ashuganj that produce rice bran. The photo was taken recently. Photo: Rajib Dhar

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net