Boeing 747 and Airbus A380: The last giant jets in the sky

TA lot of onlookers were standing at Narita Airport near Tokyo when a huge airplane from Europe floated in for the first time in spring 2019, painted in a funny turtle design. When the Japanese All Nippon Airlines (ANA) offered its first scheduled flight with this jet shortly afterwards, it was sold out in no time. The airline called its new A380 “Flying Honu”, named after an endangered sea turtle in Hawaii. The fans stood upside down, had themselves photographed in front of the giant plane before the first flight with A380 models or with turtle actors in kitschy costumes.

The Airbus A380, the largest airliner in the world, has always sparked enthusiasm among passengers and airplane fans, since its first flight with paying guests in 2007 with Singapore Airlines. ANA was the last of 15 airlines to get their A380 – that was just over a year ago.

.

Lufthansa will decide on A380 exit next week

ULufthansa plans to shrink the fleet of around 100 aircraft. But because the low demand for tickets makes the crisis appear increasingly unlikely to abate quickly, it could be around 30 more. Lufthansa CEO Carsten Spohr outlined plans on Tuesday in an online question time for employees on how the group’s fleet could change. This was confirmed to the FAZ from corporate circles. The course should be set in the coming week. Then, according to FAZ information, both the management board and the supervisory board meet. The days of the large Airbus A380 in the Lufthansa fleet could then be numbered.

Timo Kotowski

Model 747-8 aircraft are the only ones with four engines that, from his point of view, have a future in the group, Spohr is said to have said at the date that the industry portal aero.de first reported on. The 747-8 is the latest version of Boeing’s jumbo jet. Since new engines are becoming ever more powerful, aircraft with four engines are falling behind in terms of fuel efficiency compared to twin-jet engines such as the Airbus A350 or the Boeing 777.

The fact that Spohr only mentioned the Boeing 747-8 under four-jet engines suggests that the group could not only differ from the A380, but also from the older jumbo version 747-400 and the Airbus A340, which has long been classified as less efficient. Planes. A company spokesman did not want to comment on request. “There is no new resolution,” he said.

Air France has already announced its departure from the A380

Lufthansa has been hard hit by the economic consequences of the Corona crisis, as the normally lucrative long-haul business has hardly recovered so far. The cuts in the flight plan are greater than those of competitors who concentrate on intra-European traffic. It is therefore unclear whether the job creation needs to be expanded beyond the announced 22,000 full-time positions.

There is already an agreement with the manufacturer Airbus for six A380s to buy them back. So far, Lufthansa wanted to keep the other eight A380s so that they could not be used from Frankfurt after the Corona crisis, but from Munich. This plan is now up for discussion. Competitor Air France – marked by the Corona crisis – announced the end of the A380 in its own network in May. Although a busy A380 is considered efficient in operation, the collapse in demand during the pandemic has increased concerns about whether there will be enough passengers for individual flights of the large jet for a sufficient number of routes.

Lufthansa’s shrinking course should not only mean that aircraft will be parted with more quickly. The realignment should also include Lufthansa trying to get copies of the Airbus A350 early. The group has already ordered these alongside the revised version of the Boeing 777. However, the Boeing model is severely delayed. It shouldn’t just be a new aircraft for the group, but also the starting signal for a newly designed business class offer for wealthy passengers. Due to the delay in the model, the market launch of the new seats has also been postponed. They could now also float in with the A350 aircraft.

.

Aeroméxico breaks record for longest flight in Mexican history

Mexico City /

When flying from Hong Kong International Airport to Mexico City’s “Benito Juárez” air terminal, Aeromexico broke the record for longer range flight of the Mexican aviation, affirmed the company that Andrés Conesa directs.

A Boeing 787 Dreamliner traveled 14,170 kilometers from the Chinese region to landing today at the AICM, which represented 55 kilometers more than the recent flight between Shenzhen, China, and Mexico City, he detailed in a statement.

With this, Hong Kong becomes Aeroméxico’s sixth destination in Asia and in the longest flight that the airline has made, declared Andrés Conesa, CEO of the company.

“I remain convinced that challenges represent new opportunities. Thanks to our customers, the Hong Kong government and the airport authorities, today we mark a new achievement in our 86-year history,” he said.

The flight from China occurred while the airline has promised to register 7,600 flights in September, “representing more than four times the number of operations it registered in May.”

Even so, this month it transpired that Aeroméxico asked the Aviation Flight Carriers Union Association (ASSA) the dismissal of a thousand flight attendants, 37 percent of a total of 2,719.

The Hong Kong flight, the company explained, was a private charter operation to transport cargo, including in the passenger cabin.

The new direct freight route “is very exciting” for China’s special administrative region, said Stephen Phillips, Invest Hong Kong’s managing director of Promotion.

GGA

.

Space stocks are a daring mission for investors


Launch of the Demo-2 mission with a SpaceX Falcon 9 rocket in June
Image: AFP

Charismatic entrepreneurs like Elon Musk dream of commercializing space. Can investors also benefit from it – or is the industry too aloof in the truest sense of the word?

“I would like to die on Mars – but not on landing,” said the head of space company SpaceX, Elon Musk, in 2013. The founder of PayPal and owner of the electric car manufacturer Tesla is known for his unusual sayings and his ambitious plans. He said three years ago that he would send people to Mars as early as 2024. With his space company SpaceX, the billionaire has revolutionized the space industry like no other in the past few decades. The company significantly reduced the cost of access to space in just 15 years with the development of the reusable Falcon 9 launcher.

Antonia Mannweiler

The industry attracts attention, also because it suddenly has the prospect of becoming profitable. While space travel was initially driven primarily by space agencies such as NASA or ESA for research purposes, space is now increasingly being used for commercial purposes. The American investment bank Morgan Stanley estimates that the space industry, which is already $ 350 billion today, will more than triple to an annual turnover of $ 1.1 trillion by 2040.

.

Ukrainian Boeing pilots shot down by Iran survived the first missile

The black boxes of the Ukrainian Boeing shot down in Tehran in January revealed that the pilots were still alive after the plane was hit by the first of two missiles, Iranian officials said on Sunday.

The Iranian Armed Forces admitted on January 11 that, three days earlier, they had “shot down” the Boeing on the Ukraine International Airlines PS 752 flight between Tehran and Kiev, shortly after the aircraft took off from Tehran International Airport .

The cockpit voice recorder picked up a conversation between the pilot, the co-pilot and an instructor “up to 19 seconds after the first missile hit the plane,” said Iranian civil aviation chief Turaj Dehghani Zanganaeh, quoted on the website. Iribnews, the country’s state television channel.

The instructor says the aircraft has an electronic problem and the auxiliary power supply has been activated“, added the same source, sharing for the first time data from black boxes extracted by French experts from the Research and Analysis Office (BEA) in Paris.

“The pilots were told that the two engines on the aircraft were on,” he said.

The black boxes stopped working 19 seconds after the first crash. “Analysis of the consequences of the second missile could not be obtained from the black boxes,” said Dehghani Zanganaeh.

According to a source close to the investigation, the statements by the head of Iranian civil aviation are not surprising.

“Nothing else could be found,” according to this source, for whom the causes of the accident (who fired and why) will never be known through the operation of the black boxes.

The tragedy claimed the lives of 176 people on board the plane, mostly Iranians and Canadians, many of whom were dual nationals.

After diplomatic agreements between Canada and Ukraine, which required an international expert examination of black boxes, the BEA (Bureau d’enquêtes et d’analyses) indicated, in late June, that Iran had officially requested the technical assistance of the office in repair and download the data contained therein.

On the day of the accident, Iran’s air defenses were on high alert for fear of an American attack.

Iran expected a response from Washington to the Iranian attack on a base used by the US military in Iraq in response to the US operation that killed General Qassem Soleimani, architect of Iran’s regional military strategy, in an attack on Baghdad.

.

USA: Historic economic downturn due to corona crisis

Washington, New York, Düsseldorf One thing has helped Donald Trump many times over the past three and a half years: the ever surprising dynamics of the US economy.

Since the outbreak of the corona crisis in March at the latest, the President should have realized that everything is different now. Because even the last optimist should have realized after the publication of the GDP figures this Thursday that the economy has slipped into the greatest crisis of the post-war period.

Read on now

Get access to this and every other article in the

Web and in our app for 4 weeks for free.

Further

Read on now

Get access to this and every other article in the

Web and in our app for 4 weeks for free.

Further

.

Boeing 747 – The End of Megalomania – Economy

There is no reason to celebrate this milestone birthday. In 1970 Boeing launched the first model of its new aircraft 747, the legendary jumbo jet, delivered to the airline Pan Am. Now, 50 years later, the American aircraft manufacturer has announced that production will be discontinued. The last planes are to be built in 2022, but they will continue to fly for a long time, even as cargo planes. Boeing competitor Airbus already had an end for its super plane last year A 380 announced.

It is the end of an era of megalomania. For decades, the aircraft industry and airline companies have had the same: bigger, faster, further. Everyone wanted to outdo the other, whatever the cost. Each airline ordered larger and larger planes and packed them with passengers. The fact that the two most important aircraft manufacturers are now announcing the end of their former flagship models is a symbol of the situation in the industry. After the almost senseless growth, it now has to change direction urgently. The global corona epidemic, which has suddenly and almost completely brought air traffic to a standstill, is dramatically aggravating a development that has been going on for years anyway.

The 747 was celebrated as the “Queen of the Skies”

The two-storey jumbo jet, with its characteristic hump and space for around 600 passengers, was developed as early as the 1960s, when it was a testament to what American engineers can do. The jumbo jet can also be described as the pioneer for global air traffic. The American president traditionally still uses this prestige model as Air Force One for larger trips abroad. The 747 was celebrated as the “Queen of the Skies” and was the world’s largest passenger aircraft for a long time until Airbus launched the even larger A 380. In contrast to its European competitor, Boeing made very good profits on the model for many decades, of which a total of around 1550 units have so far been delivered.

But Boeing, now in a very serious crisis after the crash of two 737 Max aircraft, has – like Airbus – held on to the top model for far too long. Because the world has changed fundamentally, long before the outbreak of the virus epidemic. Gone are the days when almost everyone believed that the world needed large machines like the Jumbo-Jet and the A 380. Traffic is not always growing, it is no longer just between the world’s mega-hubs, but more and more medium-sized airports are being connected. Passengers prefer to fly directly rather than having to change trains – and this applies even more in corona times when nobody wants to make stopovers that only pose an additional risk of infection.

In the future, economical and efficient machines will be in demand

In addition, as Corona shows, air traffic has become more volatile, many airlines are afraid of the very great risk of buying, if at all, rather smaller aircraft that they can get full of in a possible crisis. In addition, the two major aircraft manufacturers Airbus and Boeing are victims of their own success, so to speak. Because the new, somewhat smaller machines, A 350 or Dreamliner, are so good and economical that they now make the giant planes superfluous. With only two instead of four engines, they are more economical and environmentally friendly.

As brave and visionary as it once was to get giant aircrafts like the Jumbo-Jet and the A 380 into the air, the decision to stop producing the two models is now overdue. British Airways has already shut down its 747 fleet. It may take a long time for aviation to return to its old level. It was just said that the recovery in passenger numbers was “surprisingly weak”. In future, large aircraft will no longer be in demand anyway, but economical and efficient machines, perhaps even with alternative engines.

.

USA: Historic economic downturn due to corona crisis

Washington, New York, Düsseldorf One thing has helped Donald Trump many times over the past three and a half years: the ever surprising dynamics of the US economy.

Since the outbreak of the corona crisis in March at the latest, the President should have realized that everything is different now. Because even the last optimist should have realized after the publication of the GDP figures this Thursday that the economy has slipped into the greatest crisis of the post-war period.

Read on now

Get access to this and every other article in the

Web and in our app for 4 weeks for free.

Further

Read on now

Get access to this and every other article in the

Web and in our app for 4 weeks for free.

Further

.

Professionals and private investors absolutely want falling prices

Düsseldorf The German stock market ended its summer break prematurely after days with only slight price fluctuations. He closed 3.45 percent or 443 points on Thursday at 12,379 points. In the meantime, he had even quoted more than 500 meters below the previous day’s level.

The situation in the USA is even worse: The US economy suffered an unprecedented economic downturn in the corona crisis. Gross domestic product (GDP) declined by 32.9 percent over the year in the second quarter.

In addition, initial jobless claims remain high. The latest figure for the week up to and including July 25 is 1.434 million.

Investor sentiment shows one wrong world on the stock exchange, if you look at the longer price trend. The leading German index has risen by almost 60 percent since mid-March, which is actually a reason for the party mood among investors. But there is record-breaking pessimism.

This is shown by the current results of the investor survey by the Frankfurt Stock Exchange. This pessimism has never been so high since the beginning of the survey in early 2013. The institutional investors are now waiting for a significant decline in the German stock market barometer. Because they want to get out of their short speculations with as little loss as possible.

“In order to be profitable or to minimize book losses, the majority of the stock marketers we surveyed need preferably negative surprises and the associated drop in share prices, ”says behavioral economist Joachim Goldberg after evaluating the survey.

According to this survey, the first large purchases between 12,300 and 12,400 meters could be made. “A circumstance that should benefit the Dax at a lower level,” explained the former currency trader on Wednesday evening. Now the Dax has already reached this level.

There should also be stronger demand if prices should rise again. Because then the pessimists would have to release their short positions and run after the higher prices.

Two brands are in focus: firstly, the June high with 13,314 points and above that the record high with 13,795 points. If the Dax rises above its previous high, one or more short squeezes are quite possible – suddenly sudden price jumps.

“The sentiment environment remains favorable for the Dax,” says Goldberg. The same picture prevails in the USA: The proportion of bulls there is at its lowest level since 2016. If the stock exchange rules still apply that a bull market dies only in euphoria, the price gains should continue soon.

Important impulses for tomorrow’s trading are likely to come this evening after the market closes in the USA: On “Super Thursday”, the four tech heavyweights Amazon, Apple, Facebook and Google will publish the figures for the second quarter after the close of trading.

Two figures show what this means for the US stock exchanges and thus the financial markets: The total market capitalization of the four groups is around $ 4.8 trillion, which is 18 percent of the leading index S&P 500.

Look at the individual values

Volkswagen: The corporation will pay less dividends for 2019 than originally planned due to the corona crisis. In order to conserve their own cash register, only two more are to be distributed to shareholders instead of the approximately three billion euros announced in February. This was not well received by the shareholders, the share lost almost seven percent.

The corona crisis hit the VW Group hard. In the first half of the year, Volkswagen slipped into the loss zone in terms of operating profit. Minus 800 million euros are now on the books.

Airbus: According to analysts, the Boeing rival benefits from a lower cash outflow and lower restructuring costs than expected. The quarterly loss was also higher than predicted. The stocks listed in the MDax rose 1.9 percent.

Heidelberg Cement: Billions in depreciation have pushed the building materials company deep into the red. This has brought the share down by around six percent.

The bottom line was a loss of three billion euros in the second quarter. Heidelberg Cement had already written down 3.4 billion euros on the value of its investments in early July due to the deteriorating business prospects caused by the corona crisis and Brexit.

Fresenius: The enterprise has to correct its targets for the current year due to the corona crisis, which caused a minus of more than six percent in the share. In the second quarter, the consequences of the pandemic were fully reflected in the health care company’s business. As the clinic operator kept many beds free for corona patients and fewer other operations took place, the subsidiary Kabi, which specializes in liquid medicine, anesthetics and clinical nutrition, was slowed down.

Freenet: A positive analyst comment put the shares at the top of the MDax. The paper of the mobile phone provider increased more than five percent. The analysts at Berenberg Bank upgraded the title to “buy” from “hold” and raised the target price to 18 from 16.50 euros.

Comdirect: The turmoil on the financial markets caused by the corona crisis has filled the coffers of the Commerzbank subsidiary. Comdirect almost quadrupled its pre-tax profit. In the first six months of 2020, there were not only many trades, but also the largest increase in the number of customers within a half year in more than ten years. However, the titles lost 1.6 percent.

Siltronic: The chip supplier suffered from a weak outlook for the second half of the year. The Munich-based company sank by up to ten percent after the manufacturer of silicon wafers from which chips are punched announced a weaker second half of the year.

Look at other asset classes

The Turkish lira fell to a new record low against the euro. The new high is now at 8.259 lira. For comparison: At the time of the lira crisis in August 2018, the value was 8.21 lira.

The Turkish currency also fell further against the dollar. In early trading, the greenback rose above the seven lira mark, at close of trading it was just below the value of 6.98. The previous record low against the dollar had reached 7.269 lira on May 7 this year.

This slide may continue significantly in the coming days. From mid-June to the end of July, the dollar-lira exchange rate, without major volatility, was stuck in the region just above 6.85 – despite significant central bank rate cuts, high inflation and the resulting negative real interest rates, unchanged current account deficit and a generally poor economic outlook. The government wanted it to stay that way. Which means: Apparently the Turkish central bank intervened.

The so-called foreign exchange market interventions, according to calculations by bankers and analysts, have totaled around $ 110 billion since the beginning of last year, and have partially used up the central bank’s foreign exchange reserve buffer. In turn, the central bank’s gross foreign exchange reserves have decreased from $ 81 billion this year to $ 49 billion.

However, the situation eased somewhat in the short term because the Turkish central bank has raised its inflation forecast. The new forecast reduces the likelihood that the central bank will cut interest rates further. “This new restrictive development supports the lira at least slightly, even if it will not be able to reverse the current price development,” says Commerzbank currency analyst Tatha Ghose.

Ghose now expects Turkey to introduce or tighten various capital controls to prevent this slide, at least in the short term. With the risk that such measures can no longer contain the exchange rate movement, which in turn could lead to even more violent price jumps.

The weak US data also gave the euro a real boost. The common currency rose temporarily from $ 1.173 to $ 1.1844, the highest level since mid-June 2018. At the beginning of July, the euro had cost around $ 1.12 and in May was even at $ 1.07.

The price of gold at yesterday’s record was yesterday at 25 cents failed from $ 1980.56. After this attempt, the price per troy ounce (31.1 grams) slipped somewhat again on Thursday.

The Fed’s opinion does not hinder rising gold prices. She doesn’t even think about raising interest rates, according to chairman Jerome Powell. This illustrates how far interest rate hikes are away. “The Fed will therefore continue to be in demand as a fight against the crisis; nothing will change in the foreseeable future regarding ultra-relaxed monetary policy. This fact speaks for a further rise in the gold price, ”say Commerzbank’s commodity analysts.

As one of the drivers of the gold price, US bank Goldman Sachs has identified growing concerns among investors that the dollar may lose its leading role as a global reserve currency. Commodity expert Jeffrey Currie and his colleagues believe that gold is the last currency that is still valid when everyone else fails.

What the chart technique says

Obviously last Friday’s gap in the course stands in the way of the Dax. Such a downward price gap occurs when the previous day’s lowest level is above the highest price on the following trading day.

Specifically, the Dax dropped to 13,072 points last Thursday, the highest price on the following Friday was 12,935 points. A downward price gap of this type is considered resistance according to the chart technique. And this resistance was confirmed yesterday: The Dax started trying to close this gap, but the daily high was 12,936 points.

Should the gap be closed, the next resistance would be at 13,314 points. It has been the previous high since the Corona crash in mid-March, which was achieved on Tuesday last week. The Dax record mark from February of this year is already 481 points above the Corona high, when the leading index reached the highest level ever with 13,795 points.

Support on the bottom is provided by the average lines of the past 50 and 200 trading days, which are at 12,364 and 12,209 points.

In the opinion of the HSBC chart technicians, this area is predestined for a strategic stop-loss brand. In other words: Quotations in this area would also be an entry-level opportunity with a correspondingly good chance-risk ratio – especially since the current 200-week line is 12,105 points.

Here is the page with the Dax course, here are the current tops & flops in the Dax. Current short sales by investors can be found in our short sales database.

.

Large quarterly loss at Boeing – Aus announced for 747

Denver, Frankfurt Boeing chief David Calhoun attuned his employees to further, clear cuts. The Chicago-based company reported a quarterly loss of $ 2.4 billion and a 25 percent drop in sales to $ 11.8 billion. Both turned out even worse than expected in advance. The past quarter is the first for America’s corporations to be completely affected by the corona crisis, giving an insight into the difficult situation the pandemic has put the economy in.

Boeing announced plans to cut back or stop production for a number of models. In addition to the aftermath of the pandemic, the group is struggling with homemade problems related to the ban on the former best-seller 737 Max, which also has an impact on finances.

Now, among other things, the production of the Boeing 777 and the new edition 777X will be reduced from three to two planes per month next year. Production of the long-haul jet 787 “Dreamliner” will also be cut back, as will the 737 Max, whose production is only slowly starting up again.

Boeing also announced the long-awaited suspension of the now legendary 747 wide-body aircraft. The last jumbo jet is scheduled to be delivered in 2022, as long as the remaining orders take a long time to be processed. According to industry circles, Boeing recently ordered parts for new production from suppliers more than a year ago. The former largest passenger aircraft in the world has been built since 1969, most recently the 747 was ordered less and less for efficiency reasons and was often discarded from airlines. Calhoun justified the step with the current market development.

Only 20 machines delivered

The US aircraft manufacturer had previously announced that it would cut ten percent of its 160,000 jobs worldwide. But given the company’s severe crisis, that would not be enough, Calhoun announced in a letter to his employees on Wednesday. He left details open. According to analysts, the quarterly figures suggest another ten thousand job cuts.

Air traffic has collapsed since the pandemic began in early March. Due to the poor crisis management of the US government, the virus spreads almost uncontrollably in many parts of the country, the economic recovery is therefore slow to come. The airlines actually wanted to expand their flight plans again in the summer. Instead, mass layoffs have been announced for autumn. Until then, they have to keep jobs – that was an important condition that the US government had tied to its billions in government aid.

Boeing chief Calhoun assumes that it will take about three years before passenger numbers reach the level of 2019 again. This makes it more optimistic than the industry association IATA, which does not expect air traffic to normalize until 2024. The airlines therefore do not need new machines.

At Boeing, as with its European competitor Airbus, aircraft that have already been ordered and produced are therefore not collected. Boeing delivered only 20 aircraft in the second quarter, the least since 1977. A year ago there were 90.

That drains Boeing’s cash reserves and its suppliers. Customers typically pay more than half the purchase price when they pick up the plane. “We get calls every day from customers who want to postpone deliveries,” Calhoun told CNCB.

To secure liquidity, Boeing had already suspended dividends and share buybacks, cut costs, and stocked $ 25 billion in bonds on the capital market. This was only possible thanks to the support from the US Federal Reserve, which had cleared blockages on the capital market in March. According to Calhoun, the buffer should be enough to get through the crisis.

Progress at 737 max

The Boeing boss, who has been in office since January, was optimistic with regard to the approval of the 737 Max. After two crashes due to design errors, the former bestseller has not been allowed to take off since March 2019. The US aeronautical regulator FAA has recently completed the flight tests, the evaluation of the data is ongoing. The authorities of other countries are also working on a new registration of the aircraft.
However, many buyers have withdrawn from their contracts or plan to do so. In the first half of 2020 alone, a total of 355 737 Max orders were canceled.

The aircraft manufacturer’s defense division could receive support from the US government in the coming months. The congress is negotiating another billion dollar aid package for the economy. The republican-led Senate’s draft also envisages $ 8 billion for arms suppliers – alongside Boeing, Lockheed Martin and General Dynamics could also benefit. Boeing shares lost almost 50 percent of their value this year, but have recovered significantly from the lows in March.

More: Airplane for sale – Airlines want to get rid of passenger aircraft.

.