David Ryder | Bloomberg | Getty Images
Employees on a platform next to a Boeing 737 MAX 9 jetliner at the company’s manufacturing facility in Renton, Washington.
Boeing’s CEO on Wednesday expressed confidence from the planemaker’s strategy along with also also said the Airbus-Bombardier partnership won’t change the company’s game plan.
Last week, Europe’s Airbus announced a partnership with Canada’s Bombardier on the C Series, a narrow-body aircraft in which competes with Boeing’s 737.
“Recent improvements from the marketplace, the discussions between Airbus along with also also Bombardier, don’t change our plans,” Boeing CEO Dennis Muilenburg said during a conference call after the company announced third-quarter results.
According to the CEO, Boeing has “a strong strategy in place. We’ll continue to look at our strategic alternatives.”
Muilenburg said the narrow-body market will be “an attractive market which has a lot of global competitors. We like competition. in which makes us better. We are confident we can win, nevertheless in which’s important in which everybody plays by the same rules.”
Boeing has accused the Canadian the of benefiting through “unfair” government subsidies. Last month, the U.S. Commerce Department imposed anti-subsidy duties on Bombardier’s C Series planes.
“We’re going to continue to invest to win from the narrow-body marketplace,” Muilenburg said. “We have lots of growth opportunity both top along with also also bottom line in our core narrow-body business. We have numerous customers who operate 737s today who still have not made their next-generation selection [to the MAX].
At the same time, the CEO said Boeing will “continue to look at ways to accelerate our core business, grow organically as our primary growth engine.”
Muilenburg also said Boeing has “clear priorities on usage of cash. Our first use of cash will be invested organically, secondly returning values our shareholders — roughly 100 percent free cash flow. along with also also then thirdly, mergers, acquisitions, partnerships in which complement our organic strategy. We are going to continue down in which path.”