Boeing will seek to shore up its troubled 737 Max10 and 777X jets with orders officially worth over $15b from Delta and Lufthansa this week, as the aerospace industry swelters at its largest event since Covid-19. Industry sources said the planemaker, struggling to maintain its duopoly with Europe’s Airbus, would strike early at the Farnborough Airshow, which opens on Monday, after months of talks to sell its largest single-aisle jet to Delta. Reuters first reported in March Delta was discussing an order for 100 Max 10 planes, and reported last week the airline was also in talks to order around 12 more Airbus A220s in a deal likely be announced on Tuesday. Lufthansa is likely to firm up a deal for around 10 large Boeing freighters, including seven of the recently launched cargo version of the 777X, sources said. None of the parties commented ahead of the show, which is going ahead despite an emergency UK weather warning and restricted rail access caused by record forecast temperatures. As Britain melts, aerospace firms will do their best to show civil demand is intact after the worst downturn in their history. Rising defense spending will also be in focus as the industry gathers under the shadow of war in Ukraine. Boeing unveiled broadly stable civil airplane forecasts on Sunday. Even so, many of the deals will be provisional ones or formal signings of business already in the works, and virtually all will be packaged as contributions to lower emissions in support of a common goal of net zero by 2050, delegates said.<br/>
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The presidents of Somalia and Kenya signed a range of deals on Friday, including one to restart trade of the stimulant khat, the countries' foreign ministers said, in a sign of improving diplomatic relations. The two neighbours are together battling an al Qaida-linked insurgency that has killed thousands of civilians in the last decade. However, their relationship has been turbulent because of a dispute over the ownership of potential offshore oil and gas deposits, some of which United Nation's lie off their disputed maritime border. The presidents agreed to restart flights by Kenya's national carrier Kenya Airways to Mogadishu, resume the khat trade from Kenya to Somalia, ease some visa restrictions, and re-open the border, the statement said.<br/>
Beleaguered Garuda Indonesia widened its full-year losses on the back of hefty impairment and lease termination costs, and despite a decline in expenses. The carrier, which recently obtained creditor and court approval for a multi-billion dollar restructuring plan, was nearly $4b in the red for the year to 31 December 2021. This compares to the record operating loss of $2.2b for 2020, as the coronavirus pandemic impacted passenger travel sentiment. The airline’s financial results show a significant $1.5b impairment of non-financial assets, as well as a $888m early lease contract termination cost, believed to be linked to fleet optimisation efforts. The carrier had previously disclosed post-restructuring plans to cut more than 80 aircraft from its fleet. Garuda’s full-year revenue fell 10% year on year to $1.34b, led by a fall in passenger travel revenue, but offset by a small uptick in cargo takings. Full-year expenses, meanwhile, fell 21% against 2020 to $2.6b. Garuda widened its net losses for 2021 to $4.2b, compared to 2020’s $2.5b. The airline burnt through a significant amount of cash through the year, ending 2021 with $54m in cash and cash equivalents, compared to $199 million at the start of the year.<br/>