Singapore Airlines ReAssures The New Boeing 777X Program With Eleven (11) Converted Orders.
The Boeing Company Commercial Plane Division received some good and reassuring news this week. Singapore Airlines has converted fourteen (14) Boeing 787 Dreamliner orders to eleven (11) new Boeing 777X , also identified as the Boeing 777-9, aircraft orders.
All reasonably responsible individuals and legal organizations/entities have reassessed, in an Ultimate Audit Manner, their fiscal spending priorities & agendas, core essential products/services, alignments, and strategic campaigns in the midst of the most severe global pandemic in one-hundred (100) years; with an ever increasing death toll.
Singapore Airlines has announced, through a published press-release, that they have informed both Airbus Industries and The Boeing Company that all confirmed new aircraft orders will be deferred until Fiscal Year (FY) 2023/2024 (FY23/24) or later. The deferral will prevent an estimated $3 Billion United States Dollars (U.S.D.) of corporate capital expenditures in a global and international airline market effectively on life support. The pinnacle major airlines (i.e. UNITED Airlines [UAL], American Airlines, etc.) in the United States (U.S.) have been sensible and disciplined enough to conserve and vault significant cash and liquid savings for emergency operations in extreme and dire prolonged market conditions, such as now.
Ultimately, the conversion of fourteen Boeing 787 Dreamliner orders to eleven (11) Boeing 777X orders does not significantly increase sales revenue for The Boeing Company. The order conversion reallocates the potential revenue from the previous firm Boeing 787 orders over to the new Boeing 777X program.
The Boeing 777X is the latest extension of the digitally designed Boeing 777 product line with increases in operational efficiencies, including folding wing tips, and a modern avionics package with touch-screen cockpit displays.
The delay of committed order revenue for two (2) fiscal years is not good news for either Airbus Industries or The Boeing Company. However, the alternative of a significantly increased risk of bankruptcy and/or closing/folding of Singapore Airlines for the airline industry with a permanently committed customer with a proven historical track record with The Boeing Company and Airbus Industries; is unacceptable.