“CAL technically has no planes – they have all been sold!”
(CMR) Boeing's troubled 737 Max jets will likely be grounded until next year according to a report in Bloomberg. This comes against the backdrop of news that Cayman Airways Ltd. has its existing fleet of planes already sold.
The reports are surfacing after SunTrust Robinson Humphrey analyst Michael Ciarmoli wrote in a note to clients that:
â€śIt is nearly the end of September and the Max remains grounded, and to our knowledge Boeing has still not submitted a data package to the Federal Aviation Administration,â€ť
There are also concerns about the viability of the airline with public opinion still being at an all-time time low according to recent surveys.
The 737 Max was grounded globally in March after two crashes within a span of five months killed 346 people. While Boeing has said that the aircraft is on track to be cleared by the FAA early in the fourth quarter, analysts and aviation experts have been growing wary, given a growing divide between U.S. and European regulators.
Cayman Airways had made no indication on how it will handle the upcoming holiday travel without the use of the 737 Max planes.
CMR sources indicated that they had already some deals underway to sell the existing fleet but maybe trying to get a postponement on those sales in order to keep them in operation.
Our sources stated that the 3, Boeing 300s have been sold. The aircraft that was diverted to Orlando recently has already had the sale contract already extended. The new owners are now pressing CAL to fully execute the contract with delivery so that they can repaint and rename/service the aircraft.
One person said:
“Technically CAL doesn't own any planes at the moment as they are all under contract for sale and at least one of them is demanding immediate delivery of the contract now.”