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Aviation Business

All articles tagged with #aviation business

"Spirit Airlines Delays Airbus Orders, Furloughs Pilots to Boost Liquidity"

Spirit Airlines will defer deliveries of new Airbus planes and furlough about 260 pilots in an effort to boost liquidity, with CEO Ted Christie citing the necessity of these steps for the company's future. The deferrals are expected to increase liquidity by about $340 million over the next two years, and the pilot furloughs will take effect in September. The airline has been grappling with the grounding of many of its Airbus planes due to a Pratt & Whitney engine recall and the collapse of its planned acquisition by JetBlue Airways earlier this year.

via CNBC|

#airbus #aviation-business #furlough

aviation-business1 year ago•2 min saved

"Alaska Airlines Receives $160 Million Compensation from Boeing for In-Flight Panel Blowout"

Boeing has paid Alaska Airlines $160 million in initial compensation for a panel blowout on a Boeing 737 Max 9 jetliner in January, with additional compensation expected. The payment covers Alaska's pretax loss related to the accident, including lost revenue and the cost of returning its Max 9 fleet to service after the planes were grounded for three weeks. The incident has led to FAA and NTSB investigations, and the Justice Department is examining whether it violated terms of a previous settlement with Boeing. Alaska's filing suggests potential future payments to other customers affected by grounding and production delays, while the airline expects a first-quarter loss due to the accident.

via The Associated Press|

#alaska-airlines #aviation-business #boeing

aviation-business1 year ago•2 min saved

United Airlines Requests Pilots to Take Unpaid Leave Amid Boeing Delivery Delays

United Airlines is asking its pilots to take unpaid time off in May due to Boeing manufacturing delays, resulting in reduced forecasted block hours for 2024. The carrier's anticipated 77 Boeing 737 Max 8 and 9 jet deliveries have been reduced to 56, with no Max 10 deliveries expected this year. Safety concerns surrounding Boeing's 737 Max continue to impact its customers, as the FAA investigates an incident involving an Alaska Airlines Max 9. United has paused pilot hiring and plans to slow its pace of hiring in 2024 due to the ongoing delays at Boeing.

via Fox Business|

#737-max #aviation-business #boeing

aviation-business1 year ago•3 min saved

"Boeing's Troubles: A Closer Look"

Boeing's troubles continue as a 787 Dreamliner experienced a sudden plunge mid-flight, adding to a string of incidents including a part of an Alaska Airlines 737 Max blowing off, flight control issues on a United Airlines 737 Max, and safety concerns with de-icing equipment. The FAA flagged safety issues with the de-icing equipment and found problems with Boeing's manufacturing and assembly line. Boeing's stock has plummeted, and the company faces challenges in restoring confidence among airlines, regulators, and passengers.

via Yahoo Finance|

#787-dreamliner #aviation-business #boeing

aviation-business1 year ago•2 min saved

"Southwest Airlines Faces Capacity Cuts and Financial Rethink Amid Boeing Challenges"

Southwest Airlines is cutting capacity, re-optimizing flight schedules, and pausing hiring due to Boeing's delivery challenges, with the airplane maker reducing its expected delivery of Max 8s to Southwest. This is the second major U.S. carrier affected by Boeing's issues, with United Airlines also pausing pilot hiring due to certification and manufacturing delays. The FAA has increased oversight of Boeing and its supplier Spirit AeroSystems following an incident involving a Max 9 jet operated by Alaska Airlines, and multiple cases of non-compliance with manufacturing quality control requirements have been discovered.

via Fox Business|

#aviation-business #boeing #capacity-cuts

aviation-business1 year ago•3 min saved

"Boeing's Troubles: A Crisis in the Making"

Boeing's troubles continue as a 787 Dreamliner experienced a sudden plunge mid-flight, adding to the company's string of incidents including a part of an Alaska Airlines 737 Max blowing off, safety issues with 737 Max and 787 Dreamliner models, and production problems flagged by the FAA. The company's stock has plummeted, and it faces challenges in restoring confidence among airlines, regulators, and passengers.

via CNN|

#787-dreamliner #aviation-business #boeing

aviation-business1 year ago•3 min saved

"Latest Updates on Boeing Max 9 Flights Resumption by Major Airlines"

Boeing Commercial Airlines President Stan Deal outlined steps to regain customer confidence after the grounding of 737 MAX 9 aircraft, as Alaska Airlines resumes flights with the MAX 9 following FAA approval of Boeing's inspection process. Deal expressed regret for the disruption and emphasized the company's commitment to improving quality control. Alaska Airlines has begun inspections on its 65 MAX 9 planes and expects to complete them by next week, while United Airlines, Aeromexico, and Turkish Airlines are set to follow suit.

via Fox Business|

#737-max-9 #aircraft-safety #alaska-airlines

aviation-business1 year ago•4 min saved

"Boeing's Accountability Crisis: Unraveling the 737 Max 9 Mishaps"

Alaska Airlines resumed service of its Boeing 737 Max 9 fleet after an emergency landing prompted inspections, but customer confidence remains shaken. Industry analysts believe Boeing's management culture prioritizes cost-cutting over safety and quality control, leading to a series of incidents that have renewed concerns about the company's aircraft. Boeing faces pressure from airlines and regulators to improve quality, as well as competition from Airbus, while struggling to regain market share and address safety issues.

via NPR|

#737-max-9 #alaska-airlines #aviation-business

aviation-business2 years ago•3 min saved

"United Airlines Evaluates Alternatives Amid Boeing's Challenges"

United Airlines is reevaluating its growth plans and delivery schedule for Boeing 737 Max 10 jets due to the grounding of the Max 9 fleet after a midair incident on an Alaska Airlines flight. The airline expects a first-quarter loss and uncertainty about the Max 10's delivery timeline. The financial and operational impact extends to Alaska Airlines, which has a significant portion of its fleet comprised of Max 9 aircraft. Boeing is working with the FAA to address safety concerns and disruptions caused by the grounding.

via The Washington Post|

#aircraft-grounding #aviation-business #boeing-737-max

aviation-business2 years ago•3 min saved

"Ryanair's Increased Oversight of Boeing Prompts Quality Control Checks"

Boeing has asked Ryanair to send extra engineers to oversee quality checks of its planes following the Alaska Airlines incident where an unused door fell off a Boeing 737 Max 9. Ryanair's CEO expressed concerns about Boeing's quality control processes but stated that the airline now has "more confidence" in the plane maker. Ryanair will deploy more engineers to oversee quality control at Boeing's US factories, and Boeing announced that an outside party would assess its production practices. The US regulator extended the grounding of 737 Max's with similar fuselage panels, and Boeing appointed an independent advisor to oversee a review of its quality control systems for its commercial aircraft.

via BBC.com|

#737-max #aircraft-safety #aviation-business

aviation-business2 years ago•2 min saved

"Boeing's Reputational Crisis: Financial Impact and Leadership Change"

Boeing is under regulatory scrutiny after a door plug dislodged from an Alaska Air Group-operated 737 Max 9, leading to FAA grounding of some jets. Analysts express concerns about the potential reputational damage and impact on Boeing's operations, with Goldman Sachs and Bank of America maintaining Buy ratings but warning of eroded confidence in the 737 Max franchise. RBC Capital Markets sees limited financial impact but potential reputational damage, while JPMorgan highlights the potential postponement of 737 Max deliveries to China following the incident.

via Benzinga|

#737-max #aircraft-safety #aviation-business

finance2 years ago•1 min saved

GE's Aviation Business Drives Profit Beat and Raises 2023 Forecast

GE stock surged by 7% after the company reported a quarterly profit beat and raised its guidance, attributing the success to the rapid growth of its aerospace business. GE Aerospace has experienced robust demand and solid execution, particularly in commercial engines and services. The company now expects adjusted earnings of $2.55 to $2.65 per share in 2023, up from the previous projection of no more than $2.30. Despite supply chain challenges, GE's commercial engine deliveries have increased by 30% year-to-date. CEO Larry Culp also highlighted the growth potential beyond the commercial category, including a deal with the US Army for test engines. GE's results reflect the success of its five-year-turnaround plan, which involved cost-cutting measures and divestment of businesses. The spin-off of GE Vernova, its renewable energy and power unit, is expected to occur in Q2 2024.

via Yahoo Finance|

#aviation-business #finance #ge