Industryweek 4637 Boeing Dreamliner Promo
Industryweek 4637 Boeing Dreamliner Promo
Industryweek 4637 Boeing Dreamliner Promo
Industryweek 4637 Boeing Dreamliner Promo
Industryweek 4637 Boeing Dreamliner Promo

Boeing Says Growth Will Slow, Jet Demand Survive with Brexit

Nov. 20, 2018
The company is still making contingency plans to prepare suppliers and coordinate with regulators on the possible fallout in areas such as parts approval.

Boeing Co. reckons Brexit will slow growth in both the U.K. and European Union economies, though not enough to upset demand for its planes, according to marketing vice president Randy Tinseth.

“We expect from a U.K. perspective and an EU perspective, there will be an economic impact, you can’t get away from that, the U.K. economy more in terms of potential growth,” Tinseth said in an interview in Brussels, adding that aircraft sales “on a global scale” will likely be unaffected.

Boeing’s rival Airbus  has warned of the fallout from a no-deal Brexit that could bring hard borders and a lapse in regulatory approvals. The European company is preparing to stockpile parts to maintain production rates in case of customs delays, as is London-based jet-engine specialist Rolls-Royce Holdings, a major supplier to both planemakers.

While encouraged by Prime Minister Theresa May’s outline Brexit accord and a U.K.-EU arrangement to maintain flights after March 29 come what may, Boeing is still making contingency plans to prepare suppliers and coordinate with regulators on the possible fallout in areas such as parts approval, said Brian Moran, its vice president for government relations in Europe.

For Boeing’s airline customers, bilateral treaties and air-services agreements could also be impacted, said Tinseth, though he reiterated a June forecast for European demand for 8,490 jetliners worth $1.2 trillion over the next 20 years.

Boeing Europe President Michael Arthur last week said the company is looking at two or three options for expansion in the U.K. after opening its first European factory in Sheffield, England, last month. Britain is also a lucrative services market because of a policy of outsourcing warplane maintenance.

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

How Manufacturers Can Optimize Operations with Weather Intelligence

Nov. 2, 2023
The bad news? Severe weather has emerged as one of the biggest threats to continuity and safety in manufacturing. The good news? The intelligence solutions that build weather ...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!