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Domhnal Slattery, the CEO of Avolon, one of the world's largest aircraft
leasing companies, lashed out at Boeing late last week. According to him, the
manufacturer has "lost its way" and it is "perhaps time for new leadership".
 
Boeing has struggled with one problem after another for years, especially in
the commercial aircraft division, and there seems to be no end to it. It was
recently announced that the introduction of the new 777-9 has been postponed
again until 2025, extending the delay to five years.
 
The certification of the MAX 10 also threatens to be delayed for years, an
important reason why loyal Boeing customer KLM switched to Airbus. In the
meantime, the latter sees orders for the A321neo pouring in. And then the
delivery of the 787 is still standing still.
 
Avolon CEO Slattery is done with it and is also concerned. According to him,
it is not good that Airbus threatens to become too dominant due to Boeing's
blunder. Moreover, it is questionable whether Airbus can increase production
enough to fill the gap.
 
"I think it's fair to say that Boeing has lost its way," Slattery said at a
conference in Dublin, according to Reuters news agency. "Boeing needs to
fundamentally rethink its strategic relevance in the marketplace." This
requires a fresh vision, perhaps new leadership.
 
According to the Avolon CEO, Boeing has "a storied history", but the corporate
culture is not right now. He also said the aircraft maker is "currently
burning money at an unprecedented level" and that this is likely to lead to a
credit rating downgrade.
 
Still, Slattery remains optimistic that Boeing will eventually be able to
solve the problems. That is also in the interest of Avolon, which regularly
has to order new aircraft.

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