Aviation

From Seizure to Scrap: The Fate of Venezuela’s Boeing 747 Unveiled

The Venezuelan Boeing 747, embroiled in a diplomatic saga, faced its final fate as it was dismantled in the United States following its seizure in Argentina.

Images circulating on social media captured the somber dismantling process, marking the conclusion of a contentious chapter that spanned nearly two years. According to the report from Aviacionline, The aircraft, belonging to Venezuelan airline Emtrasur Cargo, found itself at the center of a diplomatic dispute involving the United States, Iran, and Argentina.

Así quedó destruida, la aeronave venezolana Emtrasur tras su llegada a suelo de EEUU.
Ellos practican con placer, la doctrina Sionista, que es la que los dirige … tal cual como en Gaza, no solo asesinan, se burlan, dañan instalaciones, arrancan los árboles… son perversos. pic.twitter.com/bjyk6c27jY— Aecio 🇻🇪 (@AecioEscalante) February 29, 2024

The US Department of Justice confirmed late Monday that it had taken custody of the plane after Argentina grounded it 18 months earlier. Washington alleged that the sale of the aircraft to Venezuela violated its sanctions on Iran, citing the involvement of Mahan Air, a carrier linked to the Islamic Revolutionary Guard Corps (IRGC).

Venezuela’s Foreign Minister, Yván Gil, condemned the seizure as “blatant theft” and “shameful plunder,” adding it to the list of seized or frozen Venezuelan assets, including the multibillion-dollar oil subsidiary CITGO and various bank accounts. Despite protests and campaigns by the Maduro administration, the dismantling of Emtrasur’s Boeing 747 proceeded without major incident.

The Boeing 747-300, a 36-year-old aircraft, was purchased by Emtrasur in January 2022 from Mahan Air, with technical assistance from Iranian nationals. The plane, equipped with a reported 90-tonne, 600 cubic-meter capacity, was primarily used for cargo shipments from countries like China and India to Venezuela, as well as for delivering humanitarian aid to Caribbean nations.

The confiscation of the aircraft by Argentina in response to US sanctions prompted an outcry from the Venezuelan government, which vowed to pursue all avenues to restore justice and reclaim ownership of the plane. However, the dismantling process signifies the end of this turbulent chapter, leaving behind a trail of diplomatic tensions and legal wrangling.

Aviation

Boeing to Slash 17,000 Jobs Worldwide Amid Ongoing Factory Strike

Boeing to Slash 17,000 Jobs Amid Ongoing Factory Strike

Boeing, one of the world’s largest aerospace manufacturers, is facing a severe crisis. The company announced on Friday that it will lay off 17,000 employees—roughly 10% of its workforce.

This decision comes amid a prolonged strike, production delays, and ongoing safety concerns with its aircraft. Kelly Ortberg, Boeing’s CEO since August, delivered the news, stating, “Our business is in a difficult position, and it is hard to overstate the challenges we face together.

Beyond navigating our current environment, restoring our company requires tough decisions, and we will have to make structural changes to ensure we can stay competitive and deliver for our customers over the long term.”

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Boeing has been struggling financially, with the last reported profit in 2018. The company’s largest union, with 33,000 members, has been on strike for nearly a month after rejecting a labor deal. The ongoing walkout is reportedly costing Boeing around a billion dollars each month as negotiations remain at a standstill.

Compounding these issues, Boeing’s much-anticipated boeing 777x wide-body plane is now six years behind schedule, with deliveries postponed until 2026. This follows the discovery of structural damage during flight tests. Boeing also announced it will stop manufacturing its commercial 767 freighters after fulfilling its remaining orders by 2027.

Financially, the company expects to report a significant third-quarter loss—nearly $10 per share—and a total cash outflow of $1.3 billion. boeing new aircraft commercial airplane unit faces a $3 billion pretax charge, while its defense business will absorb an additional $2 billion hit.

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The strike has severely impacted production at key boeing facilities, particularly in Seattle, where half of the company’s nearly 150,000 employees work. Since 2019, Boeing has lost approximately $25 billion.

Ortberg was brought in over the summer to help the company regain public trust following safety concerns, especially surrounding the 737 Max line, which was involved in two deadly crashes. Earlier this year, a separate incident involving a panel popping off a 737 Max mid-flight reignited concerns. A Federal Aviation Administration investigation following the event found that Boeing had failed 33 out of 89 product audits.