Airbus launches new A321 jet; Boeing apologizes for MAX crisis

Wreckage of an Ethiopia Airlines Boeing 737 Max

At the air show in Paris, Boeing gained a much needed lift after a slow start to the show as Korean Air committed to buying 20 of the US planemaker's 787 Dreamliners, worth $6.3 billion at list prices.

Boeing executives spent the first day of this year's gathering apologising for the two deadly crashes of its 737 MAX 8 aircraft which killed 346 people in five months.

Boeing climbed 3.5 percent to $367.21 at 11:28 a.m.in NY, extending gains after announcing the Max deal.

Southwest is a major customer for the 737 MAX 8. Despite acknowledging such risks exist, the Federal Aviation Administration (FAA) has determined not to ground the fleet.

At the Paris Air Show, Boeing CEO Dennis Muilenburg said the Chicago-based manufacturer is continuing to evaluate whether to move forward with the expected $15 billion investment on its own competing aircraft. Besides the Boeing aircraft, the carrier operates Airbus A330 and A380 widebody jets on longer routes.

McAllister said Boeing would apply lessons learned from the grounding of the 737 MAX but would not speculate when it would return to service, though Muilenburg told reporters on Sunday the jet would fly again commercially this year. This is the most trying of times.

The planes will be used by IAG's airlines including British Airways, Vueling and Level, the airline group said in a statement.

Boeing has acknowledged it will take time to restore trust after a widely criticized response to the crashes and insiders say the company has assumed that the job of rebuilding confidence must, for now, be led by airlines and regulators.

However, IAG will have negotiated a substantial discount from the list price.

Republican Sam Graves told a House of Representatives hearing last month that "facts" in investigations after crashes in both Ethiopia and Indonesia "reveal pilot error as a factor in these tragically fatal accidents". But given Walsh's track record, and Boeing's commitment to fix the airplane, Unnikrishnan said he expects IAG will go through. Boeing executives started off the Paris Air Show on Monday with a sweeping apology to victims' families and airlines.

Would you fly on a pilotless plane? Walsh stressed it was up to up to the US and global regulators to review the fix.

But the planemakers remain confident of continued strong demand for more fuel-efficient jets as emissions regulations tighten and air travel continues to rise. The plane's launch deals a blow to arch-rival Boeing's plans for a new jet called the NMA, targeting middle of the market.

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