The Ex-IM bank reauthorization fiasco might now have a
resolution coming in the next few weeks. The expiration of the bank’s charter has put a
crimp in deliveries of some Boeing jets to customers, notably two 787s to Kenya
Airways. Those two airplanes are in
storage at Everett. It was rumored that
the carrier was working to find alternative delivery financing but I think it’s
safe to say that it probably hasn’t happened.
Last week, a bi-partisan group of Congressmen were able to
use what is called a discharge petition in order to get the legislation out of
House Financial Services Committee that is led by a Republican who doesn’t want
to see the Ex-Em Bank’s charter renewed.
I gathering 218 signatures for the discharge petition, the bipartisan group
now has forced a vote that will be taken within the next three weeks. Still the reauthorization also needs to get
past the Senate so I don’t think Boeing will be removing the covers of those
two 787s for Kenya just yet.
In other 787 news, Air France, which has been in deep
financial turmoil, is talking about canceling part of their 787 order quite
possibly the early deliveries which are expected to start late next year. Indeed, L/N 500, a 787-9 that is being leased
to Air France from AerCap is on the firing order. Air France/KLM ordered a total of 25 787s and
have a leasing agreement from AerCap for a further 12 aircraft. Air France is to get 13 787 from Boeing with
another 3 from AerCap. The remainder are
to go to KLM which, it seems, is unaffected by troubles at the parent company. The
management group recently converted 6 787-9 of their 25 aircraft order to 6
787-10 though it’s not clear to which carrier the -10s will be delivered. Given that the first 787-9 for Air France is
a year from delivery it stands to reason that some of the long lead items for
that aircraft and other near term 787 deliveries are already on
production. It may cost Air France more
than it’s worth to cancel the order but the jury is out on that. Interestingly, the A350-900 order remains
intact, perhaps some home country favoritism playing out in this drama? We may see Boeing sales people chasing Air
France management down the street trying to rip their clothes off if the
carrier goes ahead with any cancellation.
Oman Air took delivery of the first of 6 787-8 that it had
ordered. The carrier is expected to take
delivery of one more this year but it seems that they won’t receive any more
next year.
This week, ZD002 for Air Austral should be pulled outside of
the EMC as it starts to finish up re-work and change incorporation ahead of its
delivery. It will spend about two and
half weeks at the EMC before being towed to the flightline. ZD001 (L/N 15) will takes its place inside
the EMC after ZD002 is pulled outside.
Strangely, ZD006 (L/N 14) will be taken back from the EMC to the storage
runway at the end of this month.
Lastly, there are a
number of number of C-1 flights coming up (about 9) over the next two weeks and
I do think Boeing should be able to deliver at least 8 more 787s this month
possibly 10 more depending on the Ex-Im reauthorization situation. Boeing has already delivered 2 aircraft this
month.
Posts
5 comments:
LN14 will enter storage prior delivery in July 2017. Re-work is (probably) complete, it just need engines and interior furnishing. LN12 will be delivered to Ethiopian earlier, so Boeing is just simply doing this as part of EMC scheduling - it's much too early for interior fit of LN14 and LN12 re-work is undergoing, probably till May 2016. The same situation as with many recent built 787s with zodiac seats delay issue - they are pushing these "under work" first and then finishing earlier built frames which has been in storage.
The EXIm bank is dead in its current format. if they can force out a speaker, killing off any resurrection here is just a bump in the kerb. Switched on people can see the financial avalanche coming for ExIm if the boom in aircraft sales get derailed. All those planes on order that rely on a 5 year refresh of existing planes is going to leave a lot of hardware not wanted and not being paid for and dumped in EXIms lap.
The 6 787-10 ordered by AFKLM will go to KLM according their latest fleetlist.
Delivery 2021-2022
Ztev
It's not the Speaker of the House that is holding up the re-authorization.
The Chairman of the House Committee that overseas the Bank is the one to blame. He will not let it reach the floor for a vote. There is a procedure under way that can bypass this idiot thru a petition process and there are enough members signed up to bring it to the floor for a vote.
Speaker John Boehner will not stop it since he is in favor of it.
The reason for this anti-ExIm vote is the issue Delta's CEO and other US airline CEO's have raised: Why does the US finance our competitors at terms we cannot get? It is damaging our business as US carriers.
They make a good case: Why advantage foreign competitors over US carriers?
Ex-Im does not need to go away: It needs to be changed so that cases like this are on a level playing field.
Post a Comment