Earnings

Boeing sees airline profits hit, stagnant air cargo market due to virus

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The global air cargo industry is unlikely to grow this year because of the challenges in the China market due to the coronavirus, a senior executive at Boeing said on Wednesday.

The world’s biggest manufacturer of freighter aircraft had previously forecast air freight would grow by 1% to 2% this year due in part to the United States and China forging an interim trade deal, said Randy Tinseth, vice-president of marketing at Boeing Commercial Airplanes, the commercial division of Boeing.

“That is going to see pressure as well,” he told reporters at the Singapore Airshow, referring to the U.S.-China deal.

The deal to end a prolonged trade dispute had been expected to end a drought in sales of…



Source cnbc.com

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