Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Couple of airlines news over the weekend;* Boeing (Baa2 S, BBB- S, BBB- Pos) will require rework on 50 of undelivered 737 jets - it could slow deliveries adding to existing caps on production from regulators (at the current rate of production - it has a scheduled ramp-up over next few yrs). Boeing has clarified "it is not an immediate flight safety issue and all 737s can continue operating safely.”
The re-work follows supplier Spirit AeroSystems finding 2 mis-drilled holes on some fuselages (a "short edge margin"). It'll be (another) tough open for it - the $HY issuer's equities are down -5% in pre-market. It reports earnings tomorrow.
Any delays should be a tailwind for competitor Airbus (A2, A; Stable) - though shifts in orders are likely to take time - American Airlines CEO failed to give any colour/shift when asked on it in earnings call late last month, while United CEO was more clear on pessimism around Boeing "We’re at least going to build a plan that doesn’t have the Max 10 in it.” (CNBC 24th Jan).
Reports this morning that Airbus is in talks with Saudi for A330 military plane - it already uses the Airbus model in its fleet.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.