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Trade gloom, rising oil, Boeing 737 MAX woes to cloud aviation summit

News Service
13:07 - 30/05/2019 Perşembe
Update: 13:10 - 30/05/2019 Perşembe
REUTERS
The angle of attack sensor, at bottom center, is seen on a 737 Max aircraft at the Boeing factory in Renton, Washington, U.S., March 27, 2019.
The angle of attack sensor, at bottom center, is seen on a 737 Max aircraft at the Boeing factory in Renton, Washington, U.S., March 27, 2019.

737 MAX CUSTOMER TALKS

IATA, which is taking an increasingly central role in the crisis by hosting talks of MAX customers, believes the aircraft could return to service in August. But that is too late to prevent significant disruption to summer schedules.

Pressure on Boeing grew ahead of the IATA meeting as the China Air Transport Association estimated losses to Chinese airlines of some 4 billion yuan ($579 million).

IATA began in 1945 as a quasi-regulator and price-setter. It is now mainly a lobbying group but retains a special role as a clearing house for financial transactions and common standards.

Its perennial list of concerns includes high airport charges and what IATA calls "scandalous" air traffic delays in Europe.

But it is also wrestling with a rapid surge in anti-aviation sentiment in parts of Europe and calls in the Netherlands and elsewhere for new taxes to curb airliner emissions.

The aviation industry says it has plans to contribute to climate efforts through a carbon-offset scheme called CORSIA, but critics say the initiative is too timid.

Local airlines seem to encapsulate this year's subdued tone.

Korean Air is mourning the death of long-time chairman Cho Yang-ho from a chronic illness in April, weeks after shareholders ousted the tycoon from the board of the country's largest airline.

The carrier, now led by his son Walter, has been receiving negative media attention since an incident dubbed "nut rage" went viral in 2014, when Cho's eldest daughter Heather lost her temper over the way she was served nuts in first class and ordered the plane to return to its gate at a New York airport.

Rival Asiana's top shareholder Kumho Industrial Co said last month it was selling its stake in the debt-laden carrier which has been slashing routes to improve profitability.

"It seems there is not much of a celebratory mood given the circumstances at our major carriers," said Kim Ik-sang, a senior analyst at BNK Securities.

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