Boeing sets briefing on 737 MAX aircraft software and training updates

The 737 MAX is Boeing’s best-selling plane, with orders worth more than $500 billion at list prices. (Reuters)
Updated 25 March 2019
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Boeing sets briefing on 737 MAX aircraft software and training updates

  • The 737 MAX is Boeing’s best-selling plane, with orders worth more than $500 billion at list prices
  • Regulators this month grounded the worldwide fleet of the aircraft following a crash that killed 157 people

ADDIS ABABA/SINGAPORE: Boeing will brief more than 200 global airline pilots, technical leaders and regulators this week on software and training updates for its 737 MAX aircraft, as Ethiopian Airlines expressed confidence in the planemaker despite a recent crash.
The carrier will work with Boeing and other airlines to make air travel safer, its chief executive, Tewolde Gebremariam, said, after regulators this month grounded the worldwide fleet of the aircraft following a crash that killed 157 people.
“Despite the tragedy, Boeing and Ethiopian Airlines will continue to be linked well into the future,” he said in a statement on Monday. “Ethiopian Airlines believes in Boeing. They have been a partner of ours for many years.”
However, many questions on the 737 MAX “remain without answers,” Tewolde added, and a spokesman for the carrier said it had no “immediate plans” to attend the Boeing session, without giving further details.
Wednesday’s meeting is a sign that Boeing is nearing completion on a planned software patch required to return the grounded fleet to commercial service, though it will still need approval from regulators.
The session in Renton, Washington is part of an effort to reach all current, and many future, 737 MAX operators and their home regulators to discuss software and training updates to the jet, Boeing said in a statement.
The 737 MAX is Boeing’s best-selling plane, with orders worth more than $500 billion at list prices.
Garuda Indonesia was invited to the briefing, Chief Executive Ari Askhara said on Monday. Last week, Indonesia’s national carrier said it planned to cancel its order for 49 737 MAX jets, citing a loss of passenger trust.
“We were informed on Friday, but because it is short notice, we can’t send a pilot,” Askhara said, adding that the airline had requested a webinar with Boeing, only to be rejected.
A Boeing spokeswoman said the meeting formed part of a series of in-person information sessions.
“We have been scheduling, and will continue to arrange, additional meetings to communicate with all current, and many future, MAX customers and operators,” she said.
Garuda, which has only one 737 MAX, had been reconsidering its order before the Ethiopian crash, as had fellow Indonesian carrier Lion Air, which suffered a crash in October that killed all 189 aboard.
Boeing had informed the airline of the meeting but it might not attend, said Lion Air Managing Director Daniel Putut, who declined further comment.
Singapore Airlines Ltd. said its offshoot, SilkAir, which operates the 737 MAX, had received an invitation to the meeting and would send representatives.
Representatives of the Civil Aviation Authority of Singapore will also attend, a spokeswoman for the regulator said.
Korean Air Lines Co. Ltd, which, before the grounding, had been due to receive its first 737 MAX in April, said it planned to send pilots to Renton. South Korean low-cost carrier Eastar Jet will send two pilots, a spokesman said.
On Saturday, teams from the three US airlines that own 737 MAX jets joined a session in Renton reviewing a planned software upgrade.
Flydubai representatives attended that session and some will also attend this week’s meeting, a spokeswoman for the Dubai-based airline said.
A US official briefed on the matter on Saturday said the Federal Aviation Administration (FAA) had not yet signed off on the software upgrade and training but aimed to review and approve them by April.
It remained unclear whether the software upgrade, called “design changes” by the FAA, will resolve concerns stemming from the investigation into the March 10 Ethiopian Airlines crash.
Tewolde, the airline’s chief executive, said until there were more answers about the 737 MAX, the planes should remain grounded, adding, “Putting one more life at risk is too much.”
The US official said planned changes included 15 minutes of training to help pilots deactivate the anti-stall system known as MCAS in the event of faulty sensor data or other issues. It also included some self-guided instruction, the official added.


Moody’s upgrades Egypt’s rating to B2, expects more economic growth

Updated 18 April 2019
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Moody’s upgrades Egypt’s rating to B2, expects more economic growth

  • Moody’s believes Egypt’s large domestic funding base would support its resilience to refinancing shocks
  • The ratings agency expects energy price hikes as part of Egypt’s fuel subsidy reform

CAIRO: Rating agency Moody’s has upgraded Egypt’s sovereign rating, saying ongoing economic reforms will help improve its fiscal position and boost economic growth.
Moody’s upgraded the long-term foreign and local currency issuer ratings of Egypt to B2 from B3. The outlook was changed to stable from positive.
The decision was based on “Moody’s expectation that ongoing fiscal and economic reforms will support a gradual but steady improvement in Egypt’s fiscal metrics and raise real GDP growth,” the agency said in a statement late on Wednesday.
Moody’s also said it believed Egypt’s large domestic funding base would support its resilience to refinancing shocks despite the government’s very high borrowing needs and interest costs.
Moody’s said it expected a steady improvement of Egypt’s fiscal position, “albeit from very weak levels.”
Maintained primary budget surpluses combined with strong nominal GDP growth would help reduce the general government debt/GDP ratio to below 80 percent by the 2021 fiscal year from 92.6 percent in the 2018 fiscal year, it said.
Egypt’s fiscal year runs from July to June.
Moody’s also said it expected energy price hikes as part of Egypt’s fuel subsidy reform, which it believed would be completed in the 2019 fiscal year. This, along with the fiscal reforms implemented in the last few years, would allow the government to maintain the primary budget balance in surplus in the next few years, Moody’s said.
The upgraded rating was expected, but still good news for Egypt, said Allen Sandeep, head of research at Naeem Brokerage.
“It should help its case for new international bond issuances as we move forward,” he said.
Egypt is pushing ahead with tough economic reforms as part of a three-year $12 billion IMF loan deal signed in 2016.
The reforms, aimed at attracting investors who fled during the 2011 uprising, have included new taxes, deep cuts to energy subsidies and a currency devaluation. The reforms have helped the economy recover, but have also put the budgets of tens of millions of Egyptians under strain.