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The world of aviation finance is reportedly convening for the first time since a recent in-flight cabin mishap instigated a new safety crisis for Boeing Co (NYSE:BA). The focal point of the conference is the aftermath of the Boeing 737 MAX 9 crisis on the $150 billion jet industry.
What Happened: The meeting is being held in Dublin and will go on for a week starting Monday, Reuters reported. The attendees, including lessors, bankers, and airlines, will deliberate on the supply implications of the recent Boeing 737 MAX 9 grounding, following an incident with Alaska Airlines earlier this month where a door plug blew out.
Rob Morris, the head of the global consultancy at Ascend by Cirium, told Reuters that the aviation industry is struggling to keep pace with the post-pandemic travel boom. The recent near-catastrophe, leading to an emergency landing, has added a fresh layer of regulatory risk, further complicating the matter.
Why It Matters: Recently, the Federal Aviation Administration directed Boeing to cease any increase in 737 MAX production until quality control issues are addressed. This decision could have significant implications for industrial growth forecasts. As per the report, the unforeseen blowout and subsequent discoveries of loose bolts in the fleet could decelerate production, leading to increased returns for leasing companies, but escalating lease rates for airlines.
As events unfold in Dublin, all eyes in the industry will be on the reactions from top leasing companies such as AerCap (NYSE:AER), SMBC Aviation Capital, Air Lease (NYSE:AL), and Avolon, the report added.
Photo Courtesy: Robin Guess On Shutterstock.com
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