Exclusive outtakes from industry leaders
Boeing may see benefit from strike as demand slows
An eight-week strike by machinist workers at commercial aircraft maker Boeing delayed production and may cut profit by hundreds of millions of dollars.
But a major aircraft leasing company in the Gulf Arab state of Kuwait – and a Boeing client – sees one possible benefit to the company.
A global industry downturn is forcing manufacturers to slow down growth plans and control capacity, Ahmad A. Alzabin, chairman of Kuwait-based Alafco Aviation Lease and Finance Co. told a Reuters summit.
“Probably with Boeing they’ve been somehow more fortunate with the strike that was going on for two months. This absorbed some of the excess capacity that had happened.”