The global airline industry is expected to record its first profit fall in five years. Industry bosses meet in Seoul as rising fuel and labor costs combined with mounting protectionism are hitting aviation where it hurts most.
Emirates ordered dozens of planes from the European giant while the US-based Boeing continued to suffer. Boeing has had a severe dip in reputation after two major deadly crashes involvings its 737 MAX.
In the Middle East, Airbus and Boeing are trying to wow aviation chiefs and ink billion-dollar deals. Airbus has profited from its rival Boeing’s turbulent year, but things aren’t all one-sided.
Australian airline Qantas has grounded three of its Boeing 737s over hairline cracks found in wing structures. The new difficulties add to the troubles facing Boeing, which has seen profits drop amid heightened scrutiny.
Boeing CEO Dennis Muilenburg is facing more questions about his company's failure to prevent two deadly plane crashes. Boeing hopes the 737 MAX involved in crashes that killed 346 people will soon return to the skies.
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