Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolios

Singapore Airlines expects to resume 737 MAX flights this year, says exec

Published 16/11/2021, 06:12
© Reuters. A view of the Business Class cabin during Singapore Airlines' media preview of their new Boeing 737-8 cabin products, at Changi Airport in Singapore November 16, 2021. REUTERS/Caroline Chia
SINGY
-

By Joseph Campbell

SINGAPORE (Reuters) -Singapore Airlines Ltd expects to resume Boeing (NYSE:BA) Co 737 MAX flights before the end of the year, a senior executive said on Tuesday, in a positive sign for the model's return in Asia.

The city-state's aviation regulator approved 737 MAX flights in September, more than two years after they were grounded following two deadly crashes.

But Singapore Airlines has not returned them to service yet because it needs the green light from other countries to fly the 737 MAX in their airspace and land the plane.

"We certainly hope it will be as soon as possible," Singapore Airlines Executive Vice President Commercial Lee Lik Hsin told reporters of the planned return. "We definitely expect that it will be before this year is out."

India, Malaysia, Australia and Japan are among other Asian countries that have approved the plane's return to service, while China and Indonesia are among those that have not.

China's aviation regulator, however, has told airlines it is satisfied that design changes could resolve safety problems, Reuters reported on Sunday https://www.reuters.com/business/aerospace-defense/china-satisfied-with-boeing-737-max-changes-seeks-industry-feedback-document-2021-11-14, signalling it is closer to lifting the ban.

Boeing Chief Executive David Calhoun said last month the company was working toward gaining Chinese approvals by the end of the year.

Singapore Airlines has six 737 MAX planes in its fleet and another 31 on order to be used for flights around Asia.

The initial six planes were previously flown by regional brand SilkAir, which has since been folded into the more premium parent airline.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Singapore Airlines unveiled on Tuesday new lie-flat seats in the 737 MAX business class - a rarity for a narrowbody plane - as part of a S$230 million ($169.94 million) investment in cabin products.

It has also installed in-flight entertainment systems in economy class, helping to distinguish the experience from low-cost arm Scoot.

All 37 planes will feature the new product, Lee said.

Singapore Airlines said on Friday it expected to receive eight more 737 MAX planes by March 31, 2022, though only one of them would enter service by that date.

($1 = 1.3534 Singapore dollars)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.