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A Delta flight from NYC to LA had to turn back after its emergency exit slide detached. AdvertisementA Boeing plane was forced to make an emergency landing on Friday after an emergency slide fell off the aircraft. The Delta spokesperson said the airline was "fully supporting retrieval efforts and will fully cooperate in investigations." In a second statement, Delta said that the incident set off an emergency alarm. AdvertisementDelta Airlines 767-332ER makes emergency return to John F. Kennedy International Airport after losing its right-hand side emergency slide.
Persons: , Delta, John F, Flexport, Max Organizations: Boeing, Service, Delta Air Lines, New York's JFK, Delta, Kennedy, Airport, Breaking Aviation, JFK, Business, Federal Aviation Administration, Air Lines, Kennedy International, FAA, Alaska Airlines Locations: NYC, LA, JFK, New York's, New York, Portland , Oregon
Southwest Airlines and American Airlines posted losses in the first quarter of 2024. On Thursday, Southwest Airlines and American Airlines reported losses in their quarterly earnings call. Southwest Airlines CEO Bob Jordan told CNBC the decision to cease flights had "nothing to do" with Boeing's aircraft delivery delays. AdvertisementRepresentatives for Southwest Airlines and American Airlines didn't immediately respond to a request for comment from BI sent outside regular business hours. "Near term, yes, we are in a tough moment," Boeing CEO Dave Calhoun said in a letter to employees on the same day.
Persons: It's, Bob Jordan, , George Bush, Jordan, Robert Isom, I've, Isom, Isom's, Brian West, Dave Calhoun Organizations: Boeing, Airlines, Southwest Airlines, American Airlines, Southwest, Service, , — Bellingham International, Cozumel International Airport, George, George Bush Intercontinental Airport, Syracuse Hancock International, CNBC, American, Bank of America Global Industrials Conference . West, BI, Max, Wednesday Locations: — Bellingham, Cozumel, Southwest, Oregon, California
Boeing 787-9 Dreamliner, from American Airlines company, taking off from Barcelona airport, in Barcelona on 24th February 2023. "We're making these adjustments now to ensure we're able to re-accommodate customers on affected flights," American said in a statement. Flights from New York to Barcelona will be suspended Sept. 3. Flights from Dallas/Fort Worth International to Dublin and to Rome, which were both scheduled as year-round flights, will now be suspended on Oct. 26. Flights from Chicago O'Hare to Paris will end Sept. 3 and resume next year.
Persons: John F, Boeing didn't Organizations: Boeing, American Airlines, Kennedy International, Fort Worth International, Dublin, Chicago O'Hare Locations: Barcelona, Europe, New, Athens, New York, Dallas, Rome, Chicago, Paris, Kona, Hawaii, Philadelphia, Miami, Montevideo, Uruguay, Sao Paulo, Brazil
A Southwest commercial airliner takes off from Las Vegas International Airport in Las Vegas, Nevada, U.S., February 8, 2024. Southwest Airlines on Thursday posted a wider loss for the first quarter than the same period last year and warned that Boeing's airplane delays will hamper its growth into 2025. "The recent news from Boeing regarding further aircraft delivery delays presents significant challenges for both 2024 and 2025. Adjusting for one-time items, including costs related to labor contracts and fuel, Southwest lost $218 million, or 36 cents a share. Correction: Southwest Airlines revenue of $6.33 billion came in slightly below analysts' estimates as compiled by LSEG.
Persons: George Bush, Bob Jordan, replanning, LSEG Organizations: Las Vegas International, Southwest Airlines, Boeing, Max, Bellingham International Airport, Cozumel International, Southwest, LSEG . Locations: Las Vegas , Nevada, U.S, Syracuse , New York, Bellingham, Washington, Cozumel, Dallas
American Airlines swung to a loss in the first quarter, but its forecast for the current period surpassed analysts' estimates, sending shares roughly 5% higher Thursday. American reiterated its forecast to earn between $2.25 and $3.25 per share for the full year. American said it expects second-quarter capacity to be up 7% to 9%, and unit revenues to fall 1% to 3% from last year. Similar to Southwest , United and Alaska , American is affected by Boeing's latest quality control and safety crises. Adjusting for one-time items, including costs associated with new labor contracts, American lost $226 million, or 34 cents per share.
Persons: LSEG, Robert Isom, Isom, Boeing hasn't, , Phil LeBeau Organizations: Boeing, American Airlines, JFK International, CNBC, Revenue Locations: Austin , Texas, New York, Manhattan, Southwest, United, Alaska, American
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmerican Airlines CEO Robert Isom on Q1 miss, Boeing's delivery delays and new airline refund rulesCNBC’s Phil LeBeau and American Airlines CEO Robert Isom join 'Squawk Box' to discuss the company's quarterly earnings results, impact of Boeing's delivery delays, impact of Biden administration's new passenger refund rules, and more.
Persons: Robert Isom, Phil LeBeau, Biden Organizations: American, American Airlines
However, first-quarter earnings and revenue both came above analysts' estimates. Honeywell — The industrial stock rose 2.2% in premarket trading after the company posted earnings per share of $2.25, beating LSEG analysts' estimates of $2.17. Revenue for the quarter came in at $9.11 billion, compared to the $9.03 billion analysts were expecting. Analysts surveyed by LSEG forecast $1.88 in earnings per share and $15.20 billion in revenue. ServiceNow — The workflow management company shed 4% after narrowly beating analysts' revenue expectations in the first quarter.
Persons: Merck, LSEG, ServiceNow, , Macheel, Samantha Subin, Jesse Pound, Pia Singh, Alex Harring Organizations: Facebook, Honeywell, Merck, Southwest Airlines, American Airlines, LSEG, StreetAccount, IBM, Caterpillar, Deutsche Bank — U.S, Deutsche Bank, Comcast, Technology, Revenue, CNBC Locations: NBCUniversal
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSouthwest Airlines CEO Bob Jordan on Q1 miss: A strong quarter despite the financial resultsCNBC’s Phil LeBeau and Southwest Airlines CEO Bob Jordan join 'Squawk Box' to discuss the company's quarterly earnings results, impact of Boeing's delivery delays, the airline's decision to stop service at 5 airports, growth outlook, hiring freeze, and more.
Persons: Bob Jordan, Phil LeBeau Organizations: Southwest, Southwest Airlines
The airports losing Southwest service are:AdvertisementSyracuse Hancock International Airport in New York. Bellingham International Airport in Washington. Southwest also said it would "significantly restructure other markets," including putting capacity reductions at Hartsfield-Jackson Atlanta International Airport and Chicago O'Hare International Airport. Related stories"To improve our financial performance, we have intensified our network-optimization efforts to address underperforming markets," Southwest CEO Bob Jordan said in the earnings report, noting the impact could go into 2025. The backlash has prompted Boeing CEO Dave Calhoun to announce his resignation from the company, effective at the end of the year.
Persons: , George Bush, Boeing's Max, Max, Bob Jordan, Jordan, Dave Calhoun, Boeing's, Larry Kellner, Stan Deal, Stephanie Pope, Sam Salehpour Organizations: Service, Boeing, Max, Southwest Airlines, Business, Southwest, Syracuse Hancock International, Bellingham International Airport, Cozumel International, George Bush Intercontinental Airport, Alaska Airlines, Hartsfield, Jackson Atlanta International Airport, Chicago O'Hare International, Ryanair, United Airlines, Boeing Commercial Locations: New York, Bellingham, Washington, Cozumel, Mexico, Houston, Southwest, Alaska
Honeywell posted adjusted earnings per share of $2.25, beating analysts' estimates of $2.17 per share, per LSEG. Revenue for the quarter also came in better-than-expected at $9.11 billion, compared to the $9.03 billion analysts were expecting. ServiceNow — The digital workflow firm slid 5% after it only narrowly beat analysts' revenue expectations in the first quarter. ServiceNow posted revenue of $2.6 billion, slightly higher than the $2.59 billion analysts polled by LSEG had anticipated. Caterpillar — Shares tumbled 6.5% after revenues of $15.8 billion for the most recent quarter missed analysts' estimates of $16.04 billion, according to LSEG.
Persons: Goldman Sachs, Mark Zuckerberg, ServiceNow, LSEG, , Alex Harring, Brian Evans, Samantha Subin, Yun Li, Lisa Kailai Han, Pia Singh, Michelle Fox Organizations: Facebook, Meta, Tech, Microsoft, Beverage, JPMorgan, Monster Beverage, Honeywell —, Honeywell, Revenue, Merck, Co, LSEG, — Bank of America, Southwest Airlines —, Management, StreetAccount, Machines, IBM, Bank of America, Caterpillar, Nvidia —, Nvidia, Comcast, Deutsche Bank — U.S, Deutsche Bank, CNBC Locations: NBCUniversal
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe expect Boeing to hit an all-time backlog order high this quarter, says Bert StubinBert Subin, Aerospace Analyst at Stifel, gives his expectations for Boeing's earnings report.
Persons: Bert Stubin Bert Subin Organizations: Boeing, Aerospace
An aerial photo shows Boeing 737 Max airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, on March 21, 2019. Here is what Wall Street expects for Boeing for the period that ended March 31, according to estimates from LSEG:Loss per share: $1.76 adjusted$1.76 adjusted Revenue: $16.23 billionBoeing has been hamstrung in ramping up production, especially of its best-selling 737 Max planes. After the door plug blew out on the Alaska Airlines Max 9 on Jan. 5, the Federal Aviation Administration has barred Boeing from increasing output. Questions abound for Boeing's lame duck CEO Dave Calhoun, who announced in March that he would step down by year-end. Among those questions: When will Boeing stabilize its production line and increase production of the 737 Max and other planes?
Persons: Dave Calhoun, Max Organizations: Boeing, Max, Boeing Factory, Alaska Airlines Max, Federal Aviation Administration, FAA Locations: Renton , Washington
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailYou need an engineer at the top of Boeing's management team, says BofA's Ron EpsteinRon Epstein, Bank of America Securities research analyst, joins 'Squawk Box' to break down Boeing's quarterly earnings results, questions over the company's next management team, and more.
Persons: Ron Epstein Ron Epstein Organizations: Bank of America Securities
Boeing 787 Dreamliners are built at the aviation company's North Charleston, South Carolina, assembly plant on May 30, 2023. Boeing told employees on Monday that it expects a slower increase in production and deliveries of new 787 Dreamliner planes because of supplier shortages of "a few key parts." The company had separately been trying to boost output of 787 Dreamliners after quality problems suspended deliveries for nearly two years, ending in mid-2022. "To that end, we have shared with our customers that we expect a slower increase in our rate of production and deliveries," he wrote in the memo, reported earlier by Reuters, adding that the company still plans to increase the rate steadily because of high demand. Boeing reports quarterly results and will likely detail its production plans before the market opens on Wednesday.
Persons: Scott Stocker, Stocker Organizations: Boeing, Boeing's South, Reuters Locations: North Charleston , South Carolina, Boeing's, Boeing's South Carolina
Alaska received $162 million from Boeing for the Jan. 5 accident, which caused the Federal Aviation Administration to briefly ground the planes. The accident has added additional regulator scrutiny on Boeing and slowed its deliveries of new Max planes, of which Alaska is a major customer. "Alaska [Airlines] needs Boeing, our industry needs Boeing and our country needs Boeing to be a leader in airplane manufacturing," he said. Alaska forecast adjusted earnings per share of between $2.20 and $2.40, above the $2.12 analysts polled by LSEG expected. Adjusting for one-time items, Alaska posted a net loss of 62 cents a share in the second quarter, less than the $1.05 per-share loss analysts were expecting, according to LSEG.
Persons: Ben Minicucci, Minicucci, CNBC's, Dave Calhoun, LSEG Organizations: Alaska Airlines, Boeing, Federal Aviation Administration, Airlines, Airline Locations: Alaska, Seattle, Delta
Both Alaska and United Airlines reported quarterly losses this week. But the airlines' bosses said they would've turned profits if it weren't for Boeing's door plug fiasco. AdvertisementThe Boeing door blowout in January tanked Alaska Airlines' first quarter earnings — and it's not the only airline to have been hurt by the incident. Alaska said Thursday its results were "significantly impacted" by the door plug blowout and subsequent grounding of its fleet of 737-9 MAX planes. This story is available exclusively to Business Insider subscribers.
Persons: , it's Organizations: United Airlines, Boeing, Service, Alaska Airlines, Business Locations: Alaska
Read previewA veteran Boeing engineer told a panel of lawmakers that he received verbal and physical threats for voicing safety concerns to the company. In a Senate hearing on Wednesday, Sam Salehpour, a veteran Boeing employee turned whistleblower, said the company repeatedly ignored his reports of safety lapses during the production of at least 1,400 widebody airplanes. Salehpour said a Boeing quality manager told him not to document concerns or notify experts of the gaps he said exist on the fuselage of hundreds of Boeing 787 Dreamliners. Salehpour — who said he still has his job thanks to whistleblower-protection laws — told lawmakers that has has also received threats against his physical safety. He told lawmakers that although he has "no proof" of where or who the nail came from, he believes it happened at work.
Persons: , Sam Salehpour, Salehpour, Salehpour —, Sen, Richard Blumenthal, Drew Angerer, Taylor Rains Organizations: Service, Boeing, Business, Getty, BI, Alaska Airlines, FAA Locations: AFP, Boeing's Washington
Washington DC CNN —Boeing’s already battered reputation took another hit at two Senate committee hearings Wednesday on Capitol Hill, with witnesses questioning how the company builds airplanes and the safety of those planes. Boeing did not have any witnesses at either hearing Wednesday, but at a briefing earlier this week it defended the standards used to build planes. Boeing recently said it has searched for records but believes its employees did not document the work. Bill Clark/CQ Roll Call/SipaHe said that since the hearing was announced, his committee has heard from other whistleblowers inside of Boeing. “What I don’t want this committee to do is to scare the you-know-what out of the American public,” he said.
Persons: Washington DC CNN — Boeing’s, Sam Salehpour, he’s, , Salehpour, , don’t, , Ed Pierson, Max, Democratic Sen, Richard Blumenthal, Bill Clark, ” Blumenthal, Republican Sen, Ron Johnson Organizations: Washington DC CNN, Capitol, Boeing, The Foundation for Aviation Safety, National Transportation Safety, Alaska Airlines, Alaska Air, Democratic, Richard Blumenthal of Connecticut, Senate Homeland Security, Governmental, Republican Locations: Richard Blumenthal of, Dirksen, nonunion South Carolina, Alaska, Wisconsin
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSen. Blumenthal on Boeing whistleblower testimony: Company is really at a moment of reckoningSenate Homeland Security Permanent Subcommittee on Investigations Chairman Sen. Richard Blumenthal (D-Conn.) joins 'Squawk Box' to preview the testimony of a Boeing whistleblower on Capitol Hill today, Boeing's quality control issues, FAA's oversight lapses, and more.
Persons: Email Sen, Blumenthal, Sen, Richard Blumenthal Organizations: Email, Boeing, Senate Homeland Security, Capitol
Boeing 's safety and quality were under fire again in two Senate hearings on Wednesday as the manufacturer faces mounting scrutiny after a midair door blowout and near catastrophe on one of its planes in January. A Boeing engineer-turned-whistleblower testified before a Senate panel, reiterating his allegations that the planemaker cut corners to move wide-body planes through the production line, despite flaws. "I believe that Boeing can do better and that the public's trust in Boeing can be restored," he said in prepared remarks to the Senate Homeland Security committee ahead of the hearing "Examining Boeing's Broken Safety Culture: Firsthand Accounts." New plane deliveries from Boeing have slowed as the Federal Aviation Administration ramps up its scrutiny on the company's production lines. A separate hearing, before the Senate Commerce Committee on Wednesday, addressed Boeing's safety culture after a report issued earlier this year from an expert panel ordered by Congress found a "disconnect" between Boeing's senior management and other members of the organization on safety culture.
Persons: Richard Blumenthal, Sam Salehpour, shim, Scott Kirby, CNBC's, Dave Calhoun Organizations: Boeing, Senate Homeland Security, Governmental, Investigations, Senate Homeland, United Airlines, Max, Alaska Airlines, Federal Aviation Administration, Senate, Congress Locations: Washington ,
Boeing's corporate planes collectively flew about 4,500 hours across some 1,800 flights last year, according to data from the aviation-tracking website JetSpy. Jet Edge InternationalThe fleet's top airports include Chicago International Airport, Washington Dulles International Airport, and Boeing Field King County International Airport — all located near Boeing's corporate offices and factories. AdvertisementThe locations of Boeing's corporate fleet on April 12, according to JetSpy data. For instance, JetSpy data shows aerospace company Lockheed Martin collectively flew its five private jets for about 2,700 hours in 2023. AdvertisementBoeing wrote in the filing that its CEO "is required to use company aircraft for all business and personal travel for security reasons."
Persons: , Dave Calhoun, Calhoun, Brian West, Lockheed Martin, Taylor Swift, Elon Musk, Max, messier Organizations: Service, Business, Boeing Business Jets, Canadian, Bombardier, Challenger, Jet Edge, Chicago International Airport, Washington, International Airport, Boeing Field King County International, Airport, Lebanon Municipal Airport, Wall Street Journal, Boeing, Lockheed, PepsiCo, Costco, Alaska Airlines, Calhoun . Locations: Westchester, New York, Lebanon, New Hampshire, South Carolina, New Canaan , Connecticut, American
United Airlines on Tuesday cut its aircraft-delivery expectations for the year as it grapples with delays from Boeing , the latest airline to face growth challenges because of the plane-maker's safety crisis. "We've adjusted our fleet plan to better reflect the reality of what the manufacturers are able to deliver," CEO Scott Kirby said in an earnings release. In January, United said it was taking Boeing's not-yet-certified Max 10 out of its fleet plan. The airline said it has converted some Max 10 planes for Max 9s. United is also facing a Federal Aviation Administration safety review, which has prevented some of its planned growth.
Persons: Scott Kirby, United, Boeing's, Max, Max 9s Organizations: Airlines, Boeing, Airbus A321neos, Max, Federal Aviation Administration, CNBC, FAA, Alaska Airlines, United, Revenue Locations: U.S, Newark , New Jersey, Faro, Portugal, Tokyo, Cebu, Philippines, Southwest
An employee works on the tail of a Boeing Co. Dreamliner 787 plane on the production line at the company's final assembly facility in North Charleston, South Carolina. Boeing denied the allegations, calling them "inaccurate" and said it stood by the planes' safety. Salehpour is scheduled to appear along with another whistleblower who worked at Boeing, a former aviation official and an independent safety expert at a Senate hearing on Wednesday about aircraft safety called "Examining Boeing's Broken Safety Culture: Firsthand Accounts." Boeing last week declined to comment on those specific allegations, citing the FAA's ongoing whistleblower investigation, but said, "Retaliation is strictly prohibited at Boeing." The company is scheduled to report quarterly results on April 24, when it will face investor questions about aircraft safety, production rates and FAA oversight.
Persons: Sam Salehpour, Steve Chisholm Organizations: Boeing Co, Boeing, Federal Aviation Administration, FAA Locations: North Charleston , South Carolina
Boeing's upcoming 777X airliner is set to compete with the Airbus A350 widebody family. The 777-9 has better capacity than the biggest A350 variant, but it has less range and costs more. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe upcoming Boeing 777X is the world's largest twin-engine commercial aircraft in production. This story is available exclusively to Business Insider subscribers.
Persons: Organizations: Airbus, Service, Boeing 777X, British Airways, Emirates, Business
Boeing execs used an additional $545,520 for personal travel expenses in 2021 and 2022. The Wall Street Journal first reported Boeing had improperly classified personal trips on private jets as business travel. AdvertisementBoeing's execs have been using the company's private jets for personal travel — and it's more than we thought. The Wall Street Journal reports Boeing made the revisions after an investigation last year into the use of private jets by its top executives. The revised stats for Boeing's outgoing CEO, Dave Calhoun, amounted to an additional $142,315 in personal travel in 2021 and 2022.
Persons: Boeing execs, , Dave Calhoun, Brian West, Theodore Colbert, Calhoun Organizations: Boeing, Street Journal, IRS, Service, Top Boeing, Company, SEC, Stanley, Business, Alaska Airlines Locations: Calhoun's, New Hampshire, South Carolina, Chicago, Arlington , VA
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