Airbus and Boeing Co will launch all-new successors to their best-selling single-aisle jets powered by hydrogen from around the middle of next decade, the head of a U.S. company that champions the fuel told Reuters. The prediction by Paul Eremenko, chief executive of Universal Hydrogen, counters assertions by Boeing that it is too early to think about hydrogen for a future 737 successor, while Airbus strongly backs hydrogen but initially for smaller planes. Eremenko, who spoke as part of the Reuters Next conference, is a former chief technology officer for Airbus and United Technologies, now part of Raytheon Technologies.
Shares of Boeing (NYSE: BA) have been grounded in recent years due to concerns about the pandemic and issues with its 737 MAX. Neither of those issues are completely resolved, and Boeing shares dropped 4.9% on Wednesday due to worries about a new twist in the pandemic. It has been a rough few years for Boeing investors.
Canada on Wednesday excluded Boeing Co from a multi-billion-dollar race to supply 88 new fighter jets and indicated a previous clash between the U.S. company and a Canadian aircraft maker influenced the decision. The move means only Lockheed Martin Corp and Sweden's Saab AB can compete. Ottawa says it intends to make a decision next year on a contract that could be worth up to C$19 billion ($14.8 billion).