2/27/2020, 9:01 PM (Source: TeleTrader)
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Boeing reaches deal with engine suppliers

Boeing Co. reached an agreement with CFM International, a joint venture between GE Aviation and Safran Aircraft Engines which supply it with the engines for its 737 MAX.

The aerospace giant agreed to pay for all the engines that were delivered in 2019, as well as the ones that are to be delivered in 2020, Safran Chief Executive Philippe Petitcolin stated during the company's earnings call on Thursday.

This marks a change to the usual agreement under which the manufacturer waits until the plane is delivered to an airline and not Boeing itself.

Breaking the News / MD