Saudi flyadeal delays Boeing order

Budegt carrier Flyadeal started flights in 2017. (Supplied)
Updated 16 March 2019
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Saudi flyadeal delays Boeing order

  • Flyadeal will wait until investigations into two Boeing 737 MAX crashes are completed before deciding whether to proceed with a signed order for 30 of the jets
  • $5.9bn deal on hold after budget airline says it will wait on ndings of Ethiopian crash inquiry

DUBAI: Saudi Arabian budget airline flyadeal will wait until investigations into two Boeing 737 MAX crashes are completed before deciding whether to proceed with a signed order for 30 of the jets, its CEO said on Friday.
The 737 MAX has been banned from flying in most countries after an Ethiopian Airlines crash on Sunday that killed all 157 people on board. This was a second deadly incident involving the relatively new Boeing model in five months. In October, a Lion Air jet crashed in Indonesia killing all 189 people on board.
“We’re in a hold for the moment. We are monitoring and in constant contact with Boeing and will wait for the outcomes to be known before moving forward,” CEO Con Korfiatis told Reuters by phone.
Flyadeal ordered 30 Boeing 737 MAX 8s last December with purchasing options for 20 more in a deal that Boeing said was worth $5.9 billion at list prices.

 

The budget carrier, which started flights in 2017 and is owned by Saudi Arabian Airlines (Saudia), chose the MAX jet over Airbus’ narrowbody A320neo.
The US on Wednesday joined most countries in grounding the 737 MAX over safety fears. Acting Federal Aviation Administration (FAA) administrator Daniel Elwell has said he does not know how long the US grounding will last. 
Saudi Arabia has not said whether it has grounded the aircraft. It has been grounded in neighboring United Arab Emirates and Oman.
Emirati carrier flydubai this week said the 737 MAX remained integral to its future strategy and that it valued its long-standing relationship with Boeing.
Flydubai is one of the largest MAX customers having ordered 250 of the new model narrowbody jets since 2013. It currently has 13 MAX aircraft in its fleet.

FASTFACTS

Flyadeal ordered 30 Boeing 737 MAX 8s last December with purchasing options for 20 more in a deal that Boeing said was worth $5.9 billion at list prices.


China’s crude oil imports from Saudi Arabia up 43%

Updated 26 min 31 sec ago
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China’s crude oil imports from Saudi Arabia up 43%

  • Imports grew to 1.53 million barrels per day compared with 1.07 million a year ago
  • Sinopec Group and China National Petroleum Corp., the country’s top state-owned refiners, are halting Iranian oil purchases for loading in May, three people with knowledge of the matter said

BEIJING: China’s crude oil imports from Saudi Arabia rose 43 percent in April, making the Middle Eastern OPEC kingpin once again the top supplier to the world’s second-biggest economy, boosted by demand from new private refiners.
Saudi imports grew to 6.30 million tons, or 1.53 million barrels per day (bpd) on a daily basis, compared with 1.07 million bpd in the year ago period, according to data from the General Administration of Customs released on Saturday.
Saudi shipments were supported by higher refinery run rates at Hengli Petrochemical Co. Ltd, with production at the 400,000 bpd-capacity refinery in northeast China expected to reach optimal levels in late June. About 70 percent of the feedstock for Hengli came from Saudi Arabia.
Meanwhile Russian supplies were 6.12 million tons, or 1.49 million bpd, up from 1.35 million bpd in April last year.
China in April imported 3.24 million tons of crude oil from Iran, or 789,137 bpd, up from March’s 541,100 bpd, as companies ramped up buying before the scrapping of sanctions waivers the US had granted to big buyers of Iranian oil.
China Petrochemical Corp. (Sinopec Group) and China National Petroleum Corp. (CNPC), the country’s top state-owned refiners, are halting Iranian oil purchases for loading in May, three people with knowledge of the matter said.
Venezuela shipments stood at 1.9 million tons, or 462,813 bpd in April, up 85 percent versus 249,700 bpd in March, while crude imports from Iraq were 3.31 million tons, or 806,372 bpd, down from 904,500 bpd the previous month.