UPDATE 1-GE aircraft leasing unit cancels 69 737 MAX orders [Reuters]
Boeing Company (The) (BA)
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Source: Reuters
GE aircraft leasing unit cancels 69 737 MAX orders (Reuters) - General Electric Co’s ( GE.N ) aircraft leasing subsidiary canceled 69 orders for Boeing Co’s ( BA.N ) grounded 737 MAX jets on Friday, as it evaluates its order book in the wake of the coronavirus pandemic. Demand for airplanes has taken a beating as the virus outbreak brought travel to virtual halt, forcing several airlines to defer deliveries of planes to a later date. “Today’s agreement will help GECAS better align our available fleet with the needs of our global customer base,” said Greg Conlon, chief executive officer of GECAS, in a statement. The move comes days after Boeing posted a total of 150 737 MAX cancellations in March, including 75 previously reported from Irish leasing company Avolon. The remaining 75 cancellations were from buyers including Brazil’s GOL ( GOLL4.SA ). The unit, GECAS, maintains 29 MAX aircraft in its fleet and has 82 jets on order from Boeing, the company said.
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