Nothing like a confidence boosting 200 plane order for the highly criticized Boeing 737 MAX jet at the Paris Airshow. British Airways CEO Willie Walsh said,
“We have every confidence in Boeing and expect that the aircraft will make a successful return to service in the coming months.”
There is no doubt Boeing offered a competitive price to generate some positive news spin since the crisis erupted. As CM always contended,
“Ultimately the market will decide on the 737MAX. The plane has a 4,000+ unit backlog. Even if airlines wanted to change to A320neos, the switching costs would be prohibitively expensive in terms of pilot certification, maintenance and joining the end of an equally long queue. The order book is unlikely to suffer widespread cancellations.”
The mainstream media proves again its proclivity for sensationalist journalism without understanding the industry dynamics or the facts.
Boeing reports airlines will need around 44,000 new commercial aircraft worth $6.8 trillion by 2038, vs. 43,000 planes worth $6.49 trillion estimated in 2018. The biggest demand will remain for single-aisle jets. 32,420 narrow-body planes are likely to be built.
So much for the fear of global warming induced by air travel. In total, planes are 2% of human induced CO2. Or 0.00024% of the CO2 in the atmosphere.
Although the International Air Transport Association (IATA) wilted to the gun held to its head by the UN. The IATA has got behind the movement to do its bit for climate change. In atwo page flyer, it covered the idea that we reckless passengers must consider our carbon footprint but at the same time help the U.N. raise $40bnin taxes, sorry ‘climate finance,’ between 2021 and 2035.
The reality is if Greta Thunberg receives an invite by the Queensland government to lecture on climate change she can rest easy that the footprint in the air will be so tiny because there isn’t a diesel electric train to get here.