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Boeing 737 MAX cancellations top 350 planes in first half of 2020

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(Reuters) – Boeing Co customers canceled orders for 355 of its 737 MAX jets in the first half of 2020, the U.S. planemaker said on Tuesday, as the damage done by the jet’s grounding and the coronavirus crisis to the airline industry continued to mount.

The planemaker, which has now been striving to get its once best-selling MAX planes back in the air for more than a year after two fatal crashes led to its grounding, said airlines and leasing companies canceled another 60 orders for the jet last month.

Deliveries in the first half of the year also sank by 71% to just 70 planes as customers canceled or deferred shipments due to the collapse in air travel from coronavirus-led travel restrictions.

Deliveries are financially important to planemakers because airlines pay most of the purchase price when they actually receive the aircraft.

Boeing said it handed over 10 aircraft in June, up from four planes in May, and six jets in April.

The June cancellations came from aircraft-leasing firms, including U.S.-based Aviation Capital, Dublin-based Avolon and Singapore’s BOC Aviation, which respectively scrubbed 5, 17 and 30 orders for the 737 MAX.

Romanian carrier Blue Air also canceled six 737 MAX orders, with another two 737 MAX orders halted by unidentified customers.

On the plus side, FedEx Corp booked an order for a 767 freighter, taking Boeing’s gross orders for the year to 59 planes as of the end of June.

After adjusting for jets ordered in previous years but unlikely to be delivered currently, Boeing has now lost 784 net orders this year, rising from a loss of 602 net orders as of May end.

Boeing’s shares were up about 1% at $177.24 in afternoon trading. The stock has fallen about 46% this year, compared with a 2% decline in the S&P 500 index.

Reporting and photo: Reuters

Events

Maldives Association of Tourism Industry (MATI) holds its 34th Annual General Meeting

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The Maldives Association of Tourism Industry (MATI) held its 34th Annual General Meeting at Kurumba Maldives today, with a total of 100 members in attendance. 

The day’s events began with a welcome address from the Chairman of MATI, Mr. Mohamed Umar, who also presided over the session. The agenda included an address from the Secretary General, Mr. Ahmed Nazeer, the review and approval of the minutes of the 33rd AGM, the review and adoption of the Annual Report and Financial Reports for 2023, the approval of the 2024 budget, the appointment of auditors for 2024, the welcoming of new members and election of executive board members to the two vacant positions (by-election).

In the member discussion session, the following topics were covered: the Government’s aim to reach net-zero emissions by 2023 and renewable energy generation in the Tourism Industry, new terminal of Velana International Airport and developments, employment challenges, the Industrial Relations Act and trade unions, environmental conservation and the significance of creating and executing efficient management plans for protected areas like the South Ari Marine Protected Area (SAMPA).

Following the official proceedings, the Minister of Tourism Hon. Ibrahim Faisal and the Minister of Economic Development and Trade Hon. Mohamed Saeed joined the forum. The Ministers provided remarks and engaged in a Member Q&A session. This session provided members with the chance to directly engage with the Ministers and delve into crucial industry topics. The queries focused on the Economic Outlook, forthcoming development plans and  immediate challenges and issues affecting the Tourism Industry.

A video presentation was also showcased that delved into the extensive work undertaken by MATI in 2023. The video also touched upon the Tourism Industry’s performance over the past 5 years, as well as the current and projected human resource capacity of the sector.

In his closing remarks, the Secretary General highlighted the importance of collaborative efforts in addressing industry challenges and called for greater unison amongst industry stakeholders, ending with an acknowledgement of the promising start to the year in terms of arrivals.

Executive Board Members elected to the 2 vacant positions (by-election):

  1. Ibrahim Shareef, CEO and Managing Director of Maldives Airports Company Limited
  2. Renato De Olivera, General Manager of The Ritz-Carlton Maldives, Fari Islands and representative of Marriott International
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Business

Unlocking power of travel storytelling at Travel Creators Exchange 2024

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Join us for the Travel Creators Exchange 2024, taking place on February 1, 2024, at the Hotel Jen in Male’, Maldives.

This dynamic event provides a platform for networking and collaboration among Maldives-based travel creators, fostering connections, idea-sharing, and the establishment of lasting partnerships to expand opportunities and monetise content.

Our lineup of distinguished speakers includes:

  • Zihuny Rasheed, Deputy Managing Director of MMPRC, will present on “Power of Digital Storytelling: Collaborative Strategies for Destination Promotion.” MMPRC actively markets the Maldives globally, utilising a comprehensive approach that includes travel trade shows, roadshows, digital marketing, and more.
  • Amjad Thaufeeg, Commercial Director of Kuda Villingili Maldives Resort, brings over 23 years of hospitality industry experience. He will discuss “The Role of Content in Tourism Marketing,” drawing on expertise in revenue, customer service, sales & marketing, and human capital development.
  • Suresh Dissanayake, Assistant Vice President of Sales & Marketing of Heritance Aarah & Adaaran Resorts, with nearly two decades of experience, will shed light on “What does a Sales and Marketing Director Do?” He brings extensive luxury hospitality experience and a proven track record in sales, distribution, and marketing.
  • Vishal Amir Ahmed, a versatile cinematographer and content creator, will explore “Who is a Content Creator.” Currently associated with Various Arts Studio, he specialises in providing multimedia solutions to various clients.

Organised by Maldives Insider, Maldives Virtual Tour, Travel Trade Maldives, and Hotelier Maldives, this collaborative effort aims to empower Maldives-based travel content creators and elevate the Maldives as a premier destination for captivating travel storytelling.

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Acclaimed contemporary artist Ana Pušica explores perpetuality and community at Patina Maldives

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Ana Pušica Kramer, an internationally  acclaimed contemporary artist, joins Patina Maldives for an exclusive  art residency in the now infamous Fari Art Atelier. From January 22 to  February 22, 2024, Ana Pušica will grace the shores of the Fari Islands,  weaving a vibrant narrative of colour and emotion across her larger  than-life canvases. 

Her artistry transcends boundaries, melding abstraction and figuration into awe-inspiring masterpieces. Having exhibited globally, from New York to Beijing, Ana’s paintings are a physical, intuitive act rooted in movement.  Described as a “beautiful fluorescent thunderstorm,” Ana’s art explores light and colour, capturing the energy of life itself. 

The Fari Art Atelier which has previously hosted the likes of Daniel Arsham, Chris Stamp and David Nott, will be transformed into Ana’s studio and gallery showcasing her enthralling artworks—a mesmerising journey through poetry, memory, and the vibrant interplay of colour. Guests at Patina are invited to delve into Ana’s world, where each stroke reveals layers of meaning, evoking sensations of intense lightness and boundless interpretation. 

At Patina Maldives, Ana will immerse herself in a month-long residency, inviting the Patina Malidves community or guests and team to witness her artistic fervour firsthand. Guests will have the rare opportunity not only to observe her creative process but also to engage with and create art alongside this luminary.

Experience artistry at its most exclusive

Art Exhibition
Experience Ana’s captivating exploration of colour and emotion in her spellbinding artworks displayed at the Fari Atelier.

Art Workshops: Message in a Bottle
As part of a collaborative artwork, Ana invites Patina guests to participate in short workshops, actively contributing to the creation of a permanent installation at Patina Maldives.

Open Studio Session
Join Ana for an exclusive open studio session, offering guests a behind the-scenes look at her creative process.

Ana Pušica residency package
Discover a world where creativity knows no bounds as Ana Pušica, the maestro of contemporary art, transforms Patina Maldives into an immersive canvas of inspiration.

Book now to secure your experience.
For more information and reservations, please visit Patina Maldives or contact
reservations.maldives@patinahotels.com

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