Against the backdrop of a détente between China and the United States, there has recently been concern about whether China will re-increase its purchases of Boeing. However, before this possibility emerged, the trial of a major air accident compensation case attracted a lot of attention. On November 27, Beijing time, the Intermediate "People's Court" of Chaoyang District, Beijing** heard the case of damage liability dispute over the crash of Malaysian flight MH370, which involved more than 40 family members of passengers.
The families of Malaysia Airlines MH370 passengers have made two main demands, the first is to find out the truth about the loss of MH370 flight, and the second is to demand compensation. There are five companies in the defenses: Malaysia Airlines, Malaysia Airlines, Boeing of the United States, aircraft engine manufacturer Rolls-Royce of the United Kingdom, and Allianz Insurance Group of Germany. These families can say that this ** is a major event in their lives, because they waited for a full 9 years to be noticed.
While families are expected to receive substantial amounts of compensation, the pain suffered over the years is irreparable. It is undeniable that since many years have passed since the case, the family's second claim for compensation is not too much of a problem. However, the first demand, to find out the truth about the incident, now seems almost impossible to achieve. Over the years, speculation about MH370 has swirled, conspiracy theories and science fiction speculations have emerged, but there is still no substantial evidence pointing to a definitive conclusion. Therefore, the most likely outcome is for the defense to end the issue by offering compensation, and the results of the investigation that the families want are probably not available.
For the defendant's company, the trial of this compensation case is not necessarily a bad thing. The MH370 incident has been a century-old problem, and it would be a relief for these companies to be able to resolve the issue sooner rather than later. In fact, for these large groups, the amount of compensation demanded by the families of Malaysia Airlines is not a big problem, and it is more important to be able to get more orders, because it is related to the development and survival of these giants. Among them, the Boeing Company of the United States is a typical example.
Boeing, the largest U.S. industrial exporter, is under no pressure to pay compensation. But whether it can reopen the door to the Chinese market is very important for Boeing. In the past few years, Boeing's sales in China have plummeted due to scandals over Boeing's product technology and tensions between China and the United States. Before the pandemic, about one-third of Boeing's Boeing 737 aircraft were delivered to the Chinese market, demonstrating the importance of the Chinese market to Boeing. However, in the past three years, China's total imports of Boeing products have fallen sharply, and many orders that could have been given to Boeing have instead fallen into the hands of Boeing's biggest rival, the European Airbus Group, which is very worrying for Boeing's top management.
Last year, Airbus announced an order for nearly 300 aircraft from China, which further expanded Airbus' advantage over Boeing in the Chinese market. In fact, in a series of Sino-US economic and trade activities, Boeing's issue may also become one of the focuses of discussion, after all, whether Boeing can resume its business in China to the level of the past has a direct impact on the US export figures.
Now, with the easing of relations between China and the United States and the final legal proceedings over the Malaysia Airlines MH370 incident, Boeing's prospects for doing business in China are becoming more positive. According to an analysis by aviation consultancy IBA, even taking into account the existing orders from Boeing, Airbus and COMAC, it is expected that by the end of 2030, China will need nearly 1,100 aircraft to replace older aircraft and meet the growing demand for domestic travel, which means that the demand for related products in China is still very large. And Boeing will not want to give up this huge market in any way.
But in order to successfully restore the prosperity of its business in China, Boeing needs to take action, but also look at the future development of Sino-US relations, especially the next actions of the United States. Therefore, Boeing needs to pay close attention to the development of Sino-US relations and make corresponding adjustments and countermeasures in a timely manner in order to regain its competitive advantage in the Chinese market.
The opening of the Malaysia Airlines MH370 compensation case, which involved a dispute over the liability of more than 40 passengers' families, has attracted widespread attention. The families made two main demands for truth and reparations. The defence includes Malaysia Airlines, Malaysia Airlines, Boeing of the United States, Rolls-Royce of the United Kingdom and Allianz Insurance Group. However, since many years have passed since the case, it is almost impossible to get to the bottom of the matter. The most likely outcome is to end the lawsuit with compensation. For the big companies of the defense, it was a relief to settle the issue as soon as possible, as the Malaysia Airlines MH370 incident has become the unsolved case of the century. For Boeing, the end of this compensation case is crucial to reopening the Chinese market. Boeing's sales in China have declined significantly over the past few years, but Boeing's outlook in the Chinese market is becoming more positive as relations with the United States and China ease and demand for aircraft in China grows. However, if Boeing wants to regain its competitive advantage in the Chinese market, it needs to pay attention to the development of Sino-US relations and take corresponding measures in a timely manner.