To create problems for Boeing Co. ((NYSE:BA) and Airbus Group SE in the commercial airline sector, Russian firm Irkut Corp. launched a new medium-range passenger aircraft. The plane, called MC-21, was hailed by state media as superior to western-made counterparts in many ways. Irkut unveil the MC-21 plane on Wednesday in a ceremony attended by Prime Minister Dmitry Medvedev in Siberia, Reuters reported.
MC-21 Cuts Operational Costs By 15%
The MC-21 plane, also known as MS-21, is a twin-engine short and medium-range aircraft, which is still undergoing testing. The aircraft would cut operational costs by up to 15%, compared to current generation aircraft, according to the company.
The plane, which is expected to enter production next year, will have two models. The seating capacity in the MC-21-300 will be 160-211, while the MC-21-200 will have 130-165 seats. The new plane would be able to service routes of up to 6,400 kilometers.
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Russian Prime Minister Medvedev said that this “cool” aircraft is very important for Russia, which should hold a position in “the top league of aircraft makers.”
Irkut, a subsidiary of state-controlled United Aircraft Corporation, is expected to start deliveries in 2018. State media reported that the company has already inked numerous contracts with domestic and foreign carriers.
Boeing Stock Could Take Off With Iran Air Deal
Boeing Co. ((NYSE:BA) received 268 orders for new planes in May. The end of April saw the company deliver 230 airplanes during the month. These numbers put Boeing ahead of its rival Airbus. The company appears to be recovering nicely from its decline in February. However, the company’s stock is down 9.16% year-to-date. As we reported yesterday, Boeing’s deal with Iran Air could send the company’s stock to new heights. Analysts insist that investors seeking to place their eggs in Boeing’s baskets should not hesitate on the company’s stock. Set to make history, the air company will soon be signing a deal with Iran Air. If precedent is anything to go by, the agreement could see Boeing rake in several billions from the Middle Eastern airline. After 3 decades of limitations, Iran Air is eager to expand and spread its wings.
Qatar Airways Buying 787 Dreamliner Boeing
Boeing will deliver its 30th 787 Dreamliner to Qatar Airways in the next few weeks, Gulf Times reported, citing the company’s senior vice-president Martin Bentrott.
Qatar Airways became the first airline in the Middle East to get the 787 planes. The company placed 30 orders for the game-changing aircrafts.
“We are excited to be delivering the 30th Dreamliner to Qatar Airways. We have a very good relationship with Qatar Airways. Boeing’s relationship with Qatar is long standing, Bentrott said. “We are very proud of that relationship. And we are committed to supporting the airline… their growth… and their business.”
Airbus Remains Behind Boeing
In May, Airbus sold 83 aircrafts. The company remained behind Boeing Co. ((NYSE:BA) in the race for new orders.
Reuters reported that the company received a total of 200 new orders this year so far, including 60 new-generation narrow-body jets to at least one customer. The company’s deliveries so far this year include 9 of its new A350 jets and 7 revamped A320neo aircraft.
Airbus is looking to deliver more than 650 planes this year, including over 50 A350s.