By rights, there should be more blue sky between plane makers Airbus (FR:AIR) and Boeing (US:BA) than there is.
The two fatal crashes involving Boeing’s 737 Max in late 2018 and early 2019 meant its most popular narrow-bodied aircraft was grounded for nearly two years in most of the world, and for nearly four in China, where it only returned to the skies last month. That led to four consecutive years of heavy pre-tax losses totalling nearly $27bn (£22.6bn), with revenue down by a third over the same period.
This should have given Airbus a clear lead in the race between the French and American aerospace giants.