China Development Bank (CDB) Financial Leasing Co said on Monday it had agreed with Boeing Co to cancel the purchase of 29 undelivered 737 MAX jets, adding to a string of recent cancellations of the grounded airplane.The model has been grounded globally for more than a year following deadly crashes in Indonesia and Ethiopia.“In light of evolving aviation market dynamics, we’ve been working together with Boeing over many months to re-calibrate our MAX orderbook to be in line with our long-term view of the market and related opportunities,” Xuedong Wang, chairman of CDB Financial unit CDB Aviation, said in a statement. “As we work to return the 737 MAX to service, our focus remains on addressing our customers’ fleet needs while optimizing the delivery of the more than 4,000 airplanes in our 737 backlog,” it said.Read also: Will the US government nationalize Boeing?“As market conditions normalize, Boeing anticipates that lessors who have restructured or reduced their orderbooks will continue to add MAX aircraft to their portfolios through sale leaseback agreements with airlines,” the planemaker said. “Longer term we expect these lessors will again place orders for direct MAX purchases.”CDB Financial Leasing said that all 737 MAX 10 jets still on order will be switched to the smaller 737 MAX 8 model, and 20 deliveries will be deferred to dates in 2024, 2025 and 2026.Topics : Read also: Boeing finds new software flaws on 737 MaxThe lessor said it retained an order for another 70 of the planes that also have yet to be delivered.Boeing recorded a total of 150 MAX cancellations in March, including 75 from Irish leasing company Avolon. Boeing remains in talks with regulators seeking approval to return the plane to service, but its customers have also seen a sharp fall-off in demand due to the coronavirus pandemic.Boeing said in a statement it continued to partner with leasing company customers to help them balance their portfolios in a challenging market.
All kinds of surfcraft compete for position at Alex Heads as swell hits the coast. Picture: Lachie Millard.A $70M apartment development in one of the most desireable surf spots along the Sunshine Coast has already begun to generate strong interest.Construction was expected to kick off in March of Cube Developments “Beach Life Alex” project – a 64 strong apartment complex in Alexandra Headland.The 2,276sq m site at 118-120 Alexandra Parade was “directly opposite the sand and waves between the iconic Maroochydore and Alex surf clubs”, the firm said.The 64 apartments, with prices ranging from $599,000 to $2.49m, include two and three-bedroom luxury units with ocean views, light-filled interiors, quality appliances, big balconies and room to entertain, according to Scott Juniper of Cube Developments.More from newsParks and wildlife the new lust-haves post coronavirus22 hours agoNoosa’s best beachfront penthouse is about to hit the market22 hours agoBeach Life Alex will occupy a prime 2,276 sqm site at 118-120 Alexandra Parade, Alexandra Headland.“We haven’t seen major projects of this nature on the Sunshine Coast for many years. Enquiry from local and interstate buyers is already very strong,’’ he said.He expected construction work on the project to be finished by May 2019.“This is the coastal lifestyle that everybody dreams about,’’ he said. “We expect strong interest from the market because of the luxury, low maintenance lifestyle and proximity to world class leisure assets and infrastructure.”He said the area was one of South East Queensland’s most exciting hotspots because of the Maroochydore City Centre development which complemented the precinct’s historically strong appeal.“Buyers are realising that opportunities in this prime Sunshine Coast location are becoming rarer by the day.” FOLLOW SOPHIE FOSTER ON FACEBOOK FREE: GET THE COURIER-MAIL’S REALESTATE NEWS DIRECT TO INBOX
WRBI Area Girls Basketball Scores.Tuesday (12-9)Jac-Cen-Del 64 Waldron 20Richmond 77 Franklin County 34Rising Sun 55 Oldenburg Academy 47North Decatur 44 Eastern Hancock 39Scottsburg 70 Shawe Memorial 37Indian Creek 70 Hauser 36Columbus East 100 Southwestern 45
The Offaly native ended the tournament in a tie for 16th place on 10 under par.Graeme McDowell is up 8 places to 87th after his strong showing at the Dubai Desert Classic.Winner Sergio Garcia has jumped from 15th to 9th after his first victory on the European Tour in over three years.