Jet Airways Chairman Naresh Goyal seemed very touched. He hugged Boeing Commercial Airplanes President and CEO Kevin McAllister several times as they stood in the manufacturer’s chalet at the Farnborough Airshow. Goyal seemingly had every reason to be emotional. After all, he had just signed a new order for 75 Boeing 737 MAXs, a big deal even by the standards of the fast-growing Indian aviation market—and making a big splash at the show. The reality, though, was less ...

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