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Sunday
April 2020
6:30 PM IST
News Headlines
If you stay indoors right now, you are fighting the battle for your country: Pujara        Lockdown challenge: Rai builds muscles to maintain shape for third Olympics        Avolon cancels order for 75 Boeing 737 MAX planes        Stocks fall on Wall Street, heading for another weekly loss        Trump recommends Americans wear face masks, but says he won't        Indonesia covers up to protect orangutans from virus threat        Bangladesh sees highest single-day jump in coronavirus cases, extends shutdown to Apr 11        EC postpones elections to 11 UP Legislative Council seats amid lockdown        Coronavirus: No community transmission in Goa, says CM        Madhya Pradesh: Two senior health officials test positive for Covid-19        COVID-19 death toll nears 100-mark; Govt says no need to panic as 30% infections linked to Tablighi centre        Kerala has been successful in containing outbreak of COVID-19, claims CM        Elderly couple cured of COVID-19, says Kerala CM        COVID-19 death toll in country rises to 62, cases to 2,547        43 more test positive for virus in Mumbai; death toll 19        COVID-19 cases in Delhi mounts to 386; two more deaths: Authorities        COVID-19: Focus shifts to rapid tests in hotspots; Govt says numbers in control sans one ''event''        Rupee slides 53 paise to settle above 76 mark amid meltdown in equities        India-returned SA players are COVID-19 negative, no symptoms in those not tested        No alternative to constant testing to combat COVID-19: Sonia        
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Business News
Avolon cancels order for 75 Boeing 737 MAX planes
 
New York, Apr 3 (AFP) Irish aircraft leasing company Avolon said Friday it was canceling an order for 75 737 MAX planes due to the massive deterioration in travel because of COVID-19.

The planes being canceled had been scheduled for delivery in the 2020-2023 timeframe. Avolon also pushed back delivery of 16 other 737 MAX planes to 2024 or later and also annulled a plan to buy four Airbus A330neo aircraft.

"We are currently facing the most challenging period in the history of commercial aviation," said Avolon Chief Executive Domhnal Slattery.

"The global fleet has been effectively grounded as countries work hard to slow the spread of COVID-19." The International Air Transport Association has estimated that global airlines would see a drop of 252 billion in revenues in 2020 under a scenario in which severe travel restrictions last for three months.

Avolon's announcement is the latest bit of bad news for Boeing, which prior to the coronavirus shutdowns was already dealing with the crisis over the grounding of the 737 MAX due to two deadly crashes.

On Thursday, the Chicago-based firm unveiled a voluntary worker layoff program that a company official said will result in the departure of several thousand employees.

A Boeing spokesman said Avolon's announcement reflected a "mutual agreement" in light of the MAX grounding and the deterioration in the outlook for commercial flying.

"As we have produced fewer MAX airplanes than planned, we have implemented these adjustments to regain flexibility in managing the more than 4,300 unfilled 737 MAX orders," the Boeing spokesman said.

"This is also the right step to align to the realities of the marketplace as we balance supply and demand and protect the 737 MAX's underlying value, especially in the leasing sector.


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Rupee slides 53 paise to settle above 76 mark amid meltdown in equities
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In worst ever market crash, Sensex tumbles about 4,000 pts as India goes into lockdown
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Yes Bank resolution framework underway, depositors can withdraw money from Mar 18: Das
Rupee plunges 50 paise to 74.25 against US dollar amid coronavirus uncertainty
KERALA NEWS
Kerala has been successful in containing outbreak of COVID-19, claims CM
 Thiruvananthapuram: Kerala Chief Minister Pinarayi Vijayan on Friday said the State has been success  
Elderly couple cured of COVID-19, says Kerala CM
32 new cases in Kerala, Elderly couple cured of virus
Covid-19: Punishment by police in Kannur for violating lockdown turns into row
INTERNATIONAL NEWS
Trump recommends Americans wear face masks, but says he won't
 Washington, Apr 4 (PTI) President Donald Trump has recommended Americans to cover their faces with s
Indonesia covers up to protect orangutans from virus threat
Bangladesh sees highest single-day jump in coronavirus cases, extends shutdown to Apr 11
US wages all-out war to defeat "horrible" coronavirus: says Trump, as death toll crosses 5,000
NATIONAL NEWS
EC postpones elections to 11 UP Legislative Council seats amid lockdown
 Lucknow, Apr 4 (PTI) The Election Commission has postponed the elections to 11 Uttar Pradesh Legisla
Coronavirus: No community transmission in Goa, says CM
Madhya Pradesh: Two senior health officials test positive for Covid-19
43 more test positive for virus in Mumbai; death toll 19
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