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The grounding of the Boeing 737 Max is of no use to anyone



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DUBAI – Airbus Chief Commercial Officer Christian Scherer forcibly rejected the idea that his company was taking advantage of the grounding of a Boeing 737 Max fleet while speaking with CNBC during an air show in Dubai.

"I really need to adjust this cultural belief. It's not beneficial to anyone in this industry, at least Airbus would be," Scherer told CNBC's Hadley Gamble on Sunday.

"It's a tragedy, Boeing's problem is to solve it, but it's not good for competitors to see problems in any particular type of aircraft." two crashes in less than five months, killing 346 people together. The grounding has forced airlines to cancel thousands of flights, accrue costs and accumulate profits for the airlines.

To offset the anticipated loss of services, Boeing took a $ 4.9 billion fee in the second quarter to offset the airlines, but the final amounts are unknown as regulators have not yet lifted the grounding.

Boeing and Airbus, often described as having a duopoly over a major commercial airline since the 1

990s, each owns approximately half of that market. However, orders for each company's aircraft are expected to be smaller this year as the industry faces winds, including a slowdown in the global economy, climate change and safety.

Airbus, Europe's largest space group, has lowered its delivery expectations for 2019 grapples by delaying production at its recently expanded plant in Hamburg, Germany. It now plans to deliver "about 860" aircraft this year, which is lower than the original target of between 880 and 890. It reported adjusted operating income of 1.6 billion euros ($ 1.78 billion) for the third quarter of 2019.

– CNBC's Jessica Burshtynsky contributed to this report.


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