Irish low-cost carrier Ryanair’s firm order for 75 additional 737 MAX airplanes on Thursday provided a much-needed boost for Boeing as it struggles to revive its fortunes after the MAX crash tragedies and the global pandemic’s devastating hit to the air travel industry.

In an interview with the Seattle Times, Ryanair Group CEO Michael O’Leary — while acknowledging the anguish of the families of the 346 people who died in the two MAX crashes — confidently asserted his belief that the MAX is now safe.

He detailed his plans to steal a march on competing airlines and lead the European industry to a fast recovery next year with aggressively low fares. O’Leary said this will provide a stimulus for jobs in Europe, as well as at Boeing’s factories here in the Puget Sound region.

“This is a very important day for Seattle,” said O’Leary in a phone interview. “There have been a lot of job losses there on the production line and a lot of uncertainty.” “We intend to accelerate the recovery of traffic, tourism and jobs across the continent of Europe in the next five years,” O’Leary said. “The Ryanair and Boeing partnership will lead that recovery.”

Boeing is expected to resume MAX deliveries this month. UAL Inc. has been expected to be the first customer to receive a new MAX since American regulators ended the U.S. grounding, people familiar with the matter said. One of the people said United could take a new MAX as soon as next week, but added the schedule was in flux.

Boeing last received new MAX orders in August——two from Poland’s Enter Air and three from an unidentified customer, the only previous sales this year. The manufacturer has not won a large MAX deal since June 2019, when British Airways’ parent company announced it had signed a letter of intent to buy up to 200 of the planes. The deal has not translated into a firm order formally reported by Boeing.

Todd Horwitz Chief Strategist
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Futures and Commodities with Andy Hecht and Technomental: Our webinar on Saturday was fantastic, here is the recording

2020-11-07 Techno Mental Futures and ETF Recording