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UPDATE 1-Airbus flies to record highs, TUI falls after latest Boeing blow

Wed, 22nd Jan 2020 10:13

(Adding TUI, Senior shares)

PARIS/LONDON, Jan 22 (Reuters) - Airbus' shares
rose to record highs on Wednesday, after its U.S. arch rival
Boeing warned of new issues with the Boeing 737 MAX
plane, while customers and suppliers slumped after the latest
blow from the U.S. aerospace company.

Airbus was up by 1.5% at 138.48 euros at 1005 GMT, the top
performer on France's benchmark CAC-40 index after
scaling record highs in early deals.

In contrast, holiday company TUI's London listed stock
was down as much as 4.7% - the lowest since September
and the biggest faller on the FTSE 100.

Shares in suppliers, Britain's Senior and France's
Safran which make the engine for the jet with General
Electric, were lower.

Late on Tuesday, Boeing said it did not expect to win
approval for the return of the 737 MAX to service until mid-year
due to further potential developments in the certification
process and regulatory scrutiny on its flight control system.

In December, TUI warned that if the 737 MAX was not back in
service by May that could wipe off as much as 400 million euros
($443.6 million) from its annual earnings.

($1 = 0.9017 euros)

(Reporting by Sudip Kar-Gupta in Paris and Josephine Mason in
London, editing by Louise Heavens)

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