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Boeing Slides As Qatar Airways CEO Uninterested In Its Planned Mid-Sized Jet

Recently, Boeing Company’s shares declined lower—dragging the DJI (Dow Jones Industrial) Average deeper in the red—after Qatar Airways stated that it was not attentive in the plane maker’s mid-sized airplane even after diminishing jumbo jets obtained from European competitor Airbus. Akbar al-Baker—Qatar Airways CEO—told to reporters in Berlin that his airline will drop out the 10-Year old A-380 from the year 2023, adding that he was “disinterested” in Boeing’s scheduled mid-market aircraft, which the Chicago-based plane manufacturer intends to launch the following year. Boeing shares were spotted lower by 1.77% in mid-day trading and passed around at $422.51 each, a shift that has taken almost 50 points from the Dow, which was hooked 130 points less on the session.

Airbus—a European aeronautics company—stated in the past month that it will officially withdraw the struggling A380 jumbo jet plan, further added that the two-deck, 544-seat jumbo airplane intended to challenge Boeing’s 787 Dreamliner would be consigned in 2021. Airbus—builds the biggest passenger planes across the globe—informed in the last year that it has “no choice but to close down the plan, if we cannot pan out an agreement with Emirates,” which is the biggest carrier in the Middle East and the biggest buyer of superjumbo.

Lately, Qatar Airways was in news as the airline is set to order additional planes for aircraft leasing business. During the recent Paris Air Show, Qatar Airways was present and was busy buying the new aircraft. The new airplanes considered for buying are for usual airline operations, but more prominently, to increase its aircraft leasing trade. The aircraft leasing trade has more opportunities obtainable for an airline like Qatar Airways. Reportedly, Qatar Airways is in the aircraft leasing industry, but it anticipates expanding the current offerings.

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