Mexico celebrated the aerospace industry with the third biannual Mexico Aerospace Fair (FAMEX), held at the Santa Lucia military base, which President Lopez Obrador proclaimed as the future location of Mexico City’s new civil airport. López Obrador announced the airport’s name and indicated that it would begin construction on Apr. 29. However, the airport still has to beat a few challenges before become a reality. A recent study highlighted its construction costs could increase by 12 percent and a different study stated the new airport will be oversaturated 10 years after its construction.
In international news, Boeing is still knee-deep in trouble. The OEM had to abandon its 2019 financial outlook in the wake of the two 737 Max 8 crashes. It also lost an order for 210 aircraft after an Indian Airline stopped air operations. Bombardier is also facing challenges which forced it to cut its yearly forecast.
FAMEX and Santa Lucia
This week commemorated the third edition of FAMEX. The event, which lasted four days and culminated with an air show, hosted 580 aviation and aerospace companies from 40 countries.
At the event’s inauguration, President López Obrador announced that the construction of the airport in Santa Lucia, the future Aeropuerto Felipe Ángeles, will begin on Monday, Apr. 29.
However, a recent report from UNAM, SEDENA and the Military Engineering School indicated that the Santa Lucia airport will be saturated 10 years after it starts operating.
After complications with the initial master plan developed by Grupo Riobóo, construction costs at Santa Lucia incremented by 11.7 percent, as the project’s designer failed to take into account a nearby hill that compromised runway operations.
Boeing lost an order for 210 aircraft after Indian Jet Airways halted operations. The airline stopped all flights two weeks ago due to financial problems.
Bombardier cut its annual earnings forecast by US$750 million, after reducing its expected aircraft and train deliveries. The announcement sent the OEM’s shares plummeting.
After the two 737 Max crashes, Boeing abandoned its 2019 financial outlook. The planemarker had already stopped 737 Max deliveries and cut down on the production of its fastest-selling aircraft. Boeing’s was also hit by the two fatal crashes and subsequent groundings across the globe, leading to a 21 percent drop in earnings.