This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. For an explanation of our Advertising Policy, visit this page.
Boeing’s aircraft deliveries are up 9% year-over-year in the first quarter of 2018, the company said Tuesday. The production increase was due in large part to higher demand for the company’s 737 aircraft.
In Q1 of 2018 that ended in March, Boeing delivered 184 commercial airplanes, 132 of which were new single-aisle 737s. Boeing is also well ahead of its main rival Airbus in net aircraft orders. In Q1, Boeing marked 221 net aircraft orders, while competitor Airbus only booked 45 orders.
The higher delivery rate is a spot of good news amid a cloud of ominous questions about the effects of a looming trade war between the US and China, which would likely put Boeing in its crosshairs.
First, President Donald Trump announced at the end of March that he would be slapping a $60 billion tariff on Chinese goods, including aluminum used to build airplanes, and Boeing’s stock had its worst month on the market in two years.
Then, China retaliated by setting $50 billion in its own tariffs on 106 US goods, including “aircraft and other aircraft with an empty weight of more than 15,000 kg but not exceeding 45,000 kg [about 16.5 to 49.6 tons].” Boeing’s stock dropped again, mainly because the airplane manufacturer makes a significant amount of sales in China. At the end of 2017, it signed a deal to sell 300 planes worth $37 billion to a Chinese aviation group. Experts predicted that the tariff would affect the 737 MAX 7 aircraft, but it wasn’t clear if the weight requirement detailed in the tariff documents would also apply to the slightly larger 737 MAX 8 aircraft as well.
Boeing also weathered a cyberattack at the end of March. The crippling WannaCry virus infiltrated the manufacturer’s systems and targeted equipment that produces its 777 aircraft, 12 of which Boeing delivered in the first quarter of 2018. Boeing later said it was able to contain the virus and keep damage to a minimum.
H/T: Reuters
Featured image by Scott Olson/Getty Images.
The American Express Platinum card has some of the best perks out there: cardholders enjoy the best domestic lounge access (Delta SkyClubs, Centurion Lounges, and Priority Pass), a $200 annual airline fee credit as well as up to $200 in Uber credits, and mid-tier elite status at SPG, Marriott, and Hilton. Combined with the 60,000 point welcome offer -- worth $1,140 based on TPG's valuations -- this card is a no-brainer for frequent travelers. Here are 5 reasons you should consider this card, as well as how you can figure out if the $550 annual fee makes sense for you.
- Earn 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.
- Enjoy Uber VIP status and free rides in the U.S. up to $15 each month, plus a bonus $20 in December. That can be up to $200 in annual Uber savings.
- 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel.
- 5X Membership Rewards points on prepaid hotels booked on amextravel.com.
- Enjoy access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations around the world.
- Receive complimentary benefits with an average total value of $550 with Fine Hotels & Resorts. Learn More.
- $200 Airline Fee Credit, up to $200 per calendar year in baggage fees and more at one qualifying airline.
- Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue on your Platinum Card®. Enrollment required.
- $550 annual fee.
- Terms Apply.
- See Rates & Fees
Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.
