DIRS.INFO The most relevant business & tech news

☆ Boeing taps debt market to raise $10 billion: Reuters
▼ + stars: | 2024-04-29 | by ( ) www.cnbc.com time to read: +2 min

The Boeing logo is displayed on a Boeing building on January 8, 2024 in El Segundo, California. Boeing on Monday tapped debt markets to raise $10 billion, after the U.S. planemaker burned $3.93 billion in free cash during the first quarter following slowing production of its best-selling jet, sources familiar with the matter said. Moody's said the rating reflects Boeing's still-strong business profile, which continues to mitigate ongoing weak performance in commercial aircraft, although headwinds surrounding the division could persist through 2026. Boeing will use the bond proceeds to increase its liquidity ahead of maturities on its existing debt load, including $4.3 billion in 2025, S&P wrote on Monday. The deal's bookrunners leading the bond sale include Bank of America , Citi, JPMorgan and Wells Fargo , according to the deal's term sheet.

Persons: Moody's, bookrunners, Wells, Brian West Organizations: Boeing, U.S, Bank of America, Citi, JPMorgan Locations: El Segundo , California, maturities, Wells Fargo

☆ It isn't just Boeing that's bleeding billions — major US airlines are hemorrhaging cash too
▼ + stars: | 2024-04-26 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

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's fleet of 8 corporate jets spent some 4,500 hours in the sky flying company executives last year, data shows
▼ + stars: | 2024-04-17 | by ( Taylor Rains | ) www.businessinsider.com time to read: +5 min

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

☆ Boeing execs were using the company's private jets for personal trips more than we thought
▼ + stars: | 2024-04-12 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +3 min

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

☆ Boeing spent $500,000 more than it previously disclosed on personal private jet trips for top executives
▼ + stars: | 2024-04-11 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

The air travel is part of what are known as perquisites, or perks granted the executives, which also include ground transportation, lodging and meals during personal travel. The upward adjustment means that Boeing spent at least $734,000 in 2022 and $306,000 in 2021 on these executives’ personal air travel, according to figures provided. And 2023 personal air travel costs for the four came to $872,000. That review resulted in a newly reported cost of personal travel that was $546,000 more in 2022 and 2021 than previously disclosed. Boeing did not have any comment on the costs of the executives’ personal air travel beyond the information in the filing.

Persons: Dave Calhoun, Calhoun, Brian West, Stan Deal, Theodore Colbert, Max, ousters Organizations: New, New York CNN, Boeing, Colbert, Securities and Exchange Commission, Max, Alaska Airlines, Deal, Airplanes Locations: New York, Alexandria , Virginia

☆ Boeing's quarterly airplane deliveries drop to 83 amid safety crisis
▼ + stars: | 2024-04-09 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Boeing airplane deliveries dropped in the first quarter as the company faces increased scrutiny after a door plug blew out from one of its 737 Max 9 planes midair in January. Boeing customers are still ordering new jets from the manufacturer, which along with Airbus dominates the large-jetliner market. The latest tally comes after the Jan. 5 accident on Alaska Airlines 1282 brought Boeing inches from a catastrophe. Since the accident, the Federal Aviation Administration has inspected Boeing's 737 Max production and barred the plane maker from increasing production of the jets until it signs off on its quality control procedures. "We won't rush or go too fast," Boeing CFO Brian West said at a Bank of America conference last month.

Persons: Brian West, we're, Dave Calhoun Organizations: Boeing, Airbus, American Airlines, Alaska Airlines, Federal Aviation Administration, Bank of America, Aircraft

☆ Who can fix Boeing? Here are some potential CEO candidates
▼ + stars: | 2024-03-27 | by ( Chris Isidore | ) edition.cnn.com time to read: +12 min

New York CNN —Since its founding by William Boeing more than a century ago, the Boeing Company has had 12 CEOs. What Boeing wants in its new CEOWhen picking a new CEO, the company likely has two pools of choices. Or it can once again pick a leader like outgoing CEO Calhoun, who has a financial background and an undergraduate degree in accounting. Spirit was the only one to comment, but it did not address the possibility of Shanahan becoming Boeing CEO. Culp has an undergraduate degree in economics and an MBA from Harvard, a business background more than an engineering background.

Persons: William Boeing, Dave Calhoun, Calhoun, “, ”, Sir Tim Clark, ” Calhoun, “ It’s, Richard Aboulafia, Pat Shanahan Pat Shanahan, Donald Trump, Shanahan, “ Mr, Joe Buccino, Larry Culp Larry Culp, Jack Welch, Culp, Aboulafia, Kathy Warden Kathy Warden, Northrop Grumman, Northrop, Warden, ” Aboulafia, Mary Barra, Greg Smith Greg Smith, Smith, Alan Mulally Aboulafia, Alan Mulally, Ford, Mulally, It’s, Ron Epstein, ’, Stephanie Pope, Brian West, Pope, West, Elizabeth Lund Organizations: New, New York CNN, Boeing Company, Boeing, Alaska Airlines, Emirates Airlines, CNBC, US Department of Defense, CNN, General Electric, GE Aerospace, GE, Danaher Corp, Harvard, Northrop, General Motors, Barra, American Airlines, Ford, Detroit, GM, DaimlerChrysler, Chrysler, of America, Airplanes, GE Aviation, Services, Boeing Commercial Airplanes Locations: New York, American, Calhoun

Boeing CEO David Calhoun will step down from the embattled plane maker at the end of the year as part of a broad management shakeup Monday after a series of mishaps at one of America's iconic manufacturers. Stephanie Pope, the company's chief operating officer for less than three months, has taken over leadership of the key division. Boeing has been under intense pressure since early January, when a panel blew off a brand-new Alaska Airlines 737 Max. Airline executives have expressed their frustration with the company, and even minor incidents involving Boeing jets have attracted extra attention. Pope, 51, was promoted to Boeing chief operating officer only in January.

Persons: David Calhoun, Stan Deal, Stephanie Pope, Lawrence Kellner, Calhoun, ”, Max, “, ” Calhoun, Dennis Muilenburg, Brian West, Steven Mollenkopf, Jason Gursky, Pope, Gursky, Richard Aboulafia, Patrick Shanahan —, Trump, AeroSystems, ” Cai von Rumohr, Cowen, Michael O’Leary, he’s, Michelle Chapman Organizations: Qualcomm, Boeing, Alaska Airlines, Max, Federal Aviation Administration, FAA, Citi, U.S, Defense, Irish, Ryanair, ”, Boeing Co, AP Locations: Seattle, Indonesia, Ethiopia, Arlington , Virginia, Alaska, Calhoun, New York

☆ Ryanair says it may have to raise fares and cut flights this summer because of Boeing
▼ + stars: | 2024-02-26 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Ryanair may be forced to cut flights and raise fares in the peak summer season this year because crisis-hit Boeing can’t deliver the planes it promised. Until recently, Ryanair was expecting Boeing to deliver 57 Max 8-200 planes by the end of April, Reuters reported O’Leary as saying. “We don’t really know how many aircraft we’re going to get from Boeing,” he said, according to Reuters. If only 40 aircraft are delivered, Ryanair may have to “announce some minor schedule cuts” by the end of March, O’Leary was reported as saying. I think we (will) get some modest compensation out of Boeing,” O’Leary said.

Persons: Michael O’Leary, Max, O’Leary, ”, airfares, “ It’s, ” O’Leary, “, David Calhoun, Brian West Organizations: London CNN, Ryanair, Boeing, Alaska Airlines, Reuters, CNN Locations: Ryanair’s Ireland

☆ Boeing is in the ‘last chance saloon,’ says Emirates head Tim Clark
▼ + stars: | 2024-02-05 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Tim Clark, the president of Emirates, has joined a chorus of airline executives in warning that Boeing is running out of time to restore its reputation following a series of safety and manufacturing blunders. I’m sure Dave Calhoun and Stan Deal are on that,” he added, referring to Boeing’s CEO and head of commercial airplanes respectively. Clark isn’t the first airline boss to criticize Boeing since part of the fuselage of a 737 Max 9 blew out mid-flight in early January. Clark said that for the first time Emirates would send its own engineers to observe the production process of the 777 at Boeing and its supplier Spirit AeroSystems. “The fact that we’re having to do that is testament to what has happened,” he told the Financial Times.

Persons: Tim Clark, Clark, “ They’ve, Dave Calhoun, Stan Deal, Clark isn’t, Scott Kirby, ”, “ Will, Will, they’ve, Calhoun’s, that’s, —, Michael O’Leary, Brian West Organizations: London CNN, Emirates, Boeing, Financial, ” Emirates, CNBC, Alaska Airlines, Financial Times, “ Will Boeing, Will Boeing, CNN, Ryanair — Europe’s Locations: Alaska, Dubai, Indonesia, Ethiopia, Calhoun

☆ Europe's biggest airline said it will happily take United's 737 Max jets if the US airline doesn't want them
▼ + stars: | 2024-01-29 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewEurope's biggest airline is defending Boeing as the American manufacturer deals with the fallout from the Alaska Airlines blowout. Boeing has faced renewed scrutiny since a 737 Max 9 jet operated by Alaska Airlines lost its door plug in midair on January 5. "If United Airlines wants to delay or cancel any of their Max orders, Ryanair will be very happy to take them," he added. AdvertisementThe ultra-low-cost carrier currently has 300 Max 10 jets on order, compared to United's 150.

Persons: —, Michael O'Leary, Dave Calhoun, Brian West, " O'Leary, Scott Kirby, O'Leary, Kirby, Ryanair's O'Leary, who's, Max, he'd Organizations: Service, Boeing, Alaska Airlines, Business, Ryanair, United Airlines —, CNBC, Kirby, United Airlines Locations: American

☆ Ryanair CEO has ‘a lot of confidence’ in Boeing chief David Calhoun
▼ + stars: | 2024-01-29 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

“I have a lot of confidence both personally and professionally in David Calhoun and in Brian West,” Ryanair’s Michael O’Leary said Monday, referring to Boeing’s CEO and chief financial officer respectively. Calhoun — who was appointed to the top job in January 2020 as Boeing was already struggling with quality and safety issues — will unveil the planemaker’s full-year results Wednesday. Ryanair CEO Michael O'Leary, left, voiced strong support for Boeing CEO David Calhoun Monday. Partly because of this, Ryanair expects full-year profit for the current financial year to be at the lower end of a range of €1.85 billion-€1.95 billion ($2 billion-$2.1 billion) — trimming a November forecast of up to €2.05 billion ($2.2 billion). That would still be up from its previous record of €1.45 billion ($1.6 billion) earned in 2018, before the Covid-19 pandemic.

Persons: ”, David Calhoun, Brian West, Michael O’Leary, “, Calhoun —, Dennis Muilenberg, Calhoun, Michael O'Leary, Scott Kirby, Kirby, Max, ” O’Leary, we’ll, O’Leary, ” — Organizations: London CNN, Boeing, Ryanair, Lauda, United, Max, Alaska Airlines, US Federal Aviation Administration, CNBC, United Airlines, Reuters, Airbus Locations: US, Austrian, Alaska, American, Toulouse, United Kingdom, Kiwi.com, Europe

A Boeing E-4B "Doomsday Plane" military aircraft takes off at Joint Base Andrews, in Maryland, U.S., May 11, 2022. The Air Force, which plans to award a SAOC contract in 2024, declined to comment on whether other firms had submitted bids. "We cannot discuss an active source selection and detailed program information is classified," an Air Force spokesperson said. "Rest assured, we haven't signed any fixed-price development contracts nor (do we) intend to," Brian West, Boeing's chief financial officer, said in October. The Air Force currently operates four E-4B aircraft with at least one on alert at all times.

Persons: Tom Brenner, haven't, Brian West, Valerie Insinna, Mike Stone, Marguerita Choy Organizations: Boeing, Joint Base Andrews, REUTERS, Rights, U.S . Air Force, Sierra Nevada Corp, Survivable Airborne Operations Center, The Air Force, Air Force, U.S, Pentagon, Thomson Locations: Maryland, U.S, Washington

☆ Boeing chief strategy officer to depart in 2024 as part of restructuring
▼ + stars: | 2023-11-16 | by ( Valerie Insinna | ) www.reuters.com time to read: +2 min

A Boeing logo is seen at the company's technology and engineering center in Sao Jose dos Campos, Sao Paulo state, Brazil October 10, 2023. REUTERS/Gabriel Araujo/File Photo Acquire Licensing RightsWASHINGTON, Nov 16 (Reuters) - Marc Allen will step down as Boeing's (BA.N) chief strategy officer at the end of the year and leave the company in 2024 as the U.S. planemaker pares down its strategy arm. In a letter to employees on Thursday, Boeing CEO David Calhoun said the U.S. planemaker will not fill the chief strategy officer role going forward. Boeing will shrink its strategy and corporate development organization and instead have "strategy teams directly joining the business units they support," Calhoun said. Chief Financial Officer Brian West and Mike D’Ambrose, the company's top human resources official, will create a realignment plan for the strategy unit over the next month, Calhoun said.

Persons: Sao Jose dos Campos, Gabriel Araujo, Marc Allen, planemaker, David Calhoun, Calhoun, Brian West, Mike D’Ambrose, Allen, Valerie Insinna, Tim Hepher, Chris Reese, Bill Berkrot Organizations: Boeing, REUTERS, Rights, Embraer, EMBR3, Airbus, Thomson Locations: Sao Jose, Sao Paulo state, Brazil, U.S, China

☆ Boeing struggles to steer defense unit in another year of losses
▼ + stars: | 2023-10-27 | by ( Valerie Insinna | ) www.reuters.com time to read: +5 min

The Boeing KC-46 Pegasus aerial refueling tanker is seen before a delivery celebration to the U.S. Air Force in Everett, Washington, U.S., January 24, 2019. Despite absorbing $4.4 billion in losses in 2022 – which executives said would lower the risk of future cost overruns – the unit has seen little improvement this year. Excluding last year, losses on Boeing's defense programs in 2023 exceed those from all years since 2014, according to a Reuters review of Boeing’s regulatory filings. The latest charge for Air Force One brought total losses to $2.4 billion on a $3.9 billion contract to develop two planes. A better bet, and one Boeing's defense segment is aggressively pursuing, is inking future contracts for next-generation fighter jets and cutting-edge drones.

Persons: Lindsey Wasson, Lockheed Martin, Brian West, Byron Callan, ”, Seth Seifman, JP Morgan, “, NASA's, West, there's “, Richard Aboulafia, ” Aboulafia, Valerie Insinna, Rod Nickel Organizations: Boeing KC, Pegasus, U.S . Air Force, REUTERS, Rights, Air Force, Boeing, Lockheed, General Dynamics, Capital Alpha Partners, U.S . Defense Department, NASA, BDS, Boeing Defense Space, U.S . Air Force's KC, KC, Thomson Locations: Everett , Washington , U.S, Ukraine

☆ Boeing, Spirit expand inspections for 737 MAX production defect
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

The Boeing logo is seen on the side of a Boeing 737 MAX at the Farnborough International Airshow, in Farnborough, Britain, July 20, 2022. REUTERS/Peter Cziborra/File Photo Acquire Licensing RightsOct 12 (Reuters) - Boeing (BA.N) and Spirit AeroSystems (SPR.N) have expanded the scope of their ongoing inspections of a production defect affecting 737 Max 8 aircraft, Boeing said on Thursday. The planemaker in August identified a new quality problem with its popular 737 MAX aircraft involving supplier Spirit that resulted in improperly drilled holes on the aft pressure bulkhead made using an automated drill. Spirit said it continues working closely with Boeing to address rework related to the aft pressure bulkhead. Deliveries of Boeing's best-selling 737 MAX fell in September to the lowest level since August 2021 as it continues struggling with work needed to correct the manufacturing defect.

Persons: Peter Cziborra, Max, Brian West, Shivansh, David Shepardson, Valerie Insinna, Shilpi Majumdar, Chris Reese Organizations: Boeing, Farnborough, REUTERS, Federal Aviation Administration, The, FAA, Reuters, Thomson Locations: Farnborough, Britain, Bengaluru, Washington

☆ Some workers are super commuting to avoid relocating amid a push for employees to return to offices
▼ + stars: | 2023-09-13 | by ( Kylie Kirschner | ) www.businessinsider.com time to read: +4 min

Instead of relocating to be near their office, some workers are super commuting a few days a week. But some workers, forced to appear in person at the office, have taken commuting to the extreme — super commuting to the office hours away by plane. For some workers, especially ones who were hired remotely, a return to office would ostensibly mean relocating. AdvertisementAdvertisementBoeing CEO David Calhoun set an extreme — and much-criticized — example of extreme commuting. Are you being affected by return-to-office policies and considering an extreme commute?

Persons: David Calhoun, LOGAN CYRUS, Brian West, —, Frank Croasdale, Sophia Celentano, Celentano Organizations: Boeing, Ogilvy, Get, Service, Meta, Apple, Google, Employees, Wall Street Journal, Getty, Wall Street Locations: Wall, Silicon, Virginia, New Hampshire, South Carolina, Connecticut, Calhoun, West, California, Austin , Texas, Texas, Austin, Charleston, New Jersey

☆ Boeing's CEO is commuting to the office by private jet, and some employees who have returned to the office are mocking him, report says
▼ + stars: | 2023-09-11 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Boeing is trying to get employees back to the office with happy hours and alpaca visits, the WSJ reports. CEO David Calhoun has taken over 400 private jet trips from his homes and is rarely seen in the office. David Calhoun took over as Boeing CEO shortly before the pandemic, when like most office workers, he started working from home. Is he like at Lake Sunapee or something in New Hampshire?" The Journal reports that several Boeing employees then began displaying "Lake Sunapee" signs in their offices, and others had souvenir mugs like one that read: "Love Lake Life."

Persons: David Calhoun, alpacas —, Brian West, hasn't, Donald Trump's, Jim Cramer, What's, Cramer, we're Organizations: Boeing, Service, Street Journal, CNBC Locations: Wall, Silicon, Chicago, Virginia, New, South Carolina, Connecticut, New Hampshire

A Boeing logo is seen at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 18, 2023. The recent supplier problem, discovered late last month, involves fastener holes on the 737 aft pressure bulkhead that were improperly drilled and therefore misaligned or elongated. Spirit AeroSystems (SPR.N), which makes the 737 fuselage, said in August it had corrected the production issue and continues to deliver fuselages to Boeing. Despite continued supplier defects, West said Boeing has no intention of changing its supplier master schedule, which calls for Boeing's supply chain to ramp to a monthly production rate of 50 737s by the 2025-2026 timeframe. Reporting by Valerie Insinna and Abhijith Ganapavaram; Editing by Mark Porter and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Benoit Tessier, Brian West, West, Valerie Insinna, Mark Porter Organizations: Boeing, Paris, REUTERS, Rights, Thomson Locations: Le Bourget, Paris, France

☆ Boeing aircraft deliveries fall in July as company plans to raise output
▼ + stars: | 2023-08-08 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Boeing 787 Dreamliners are built at the aviation company's North Charleston, South Carolina, assembly plant on May 30, 2023. Boeing delivered 43 aircraft to customers last month as it tries to ramp up output with airline customers clamoring for new jets. Last month, Boeing said it was transitioning production of its bestselling 737 Max plane to a pace of 38 a month from 31. Boeing's chief rival, Airbus, last week said it has handed over 381 planes in the first seven months of the year. Boeing said it logged net orders for 52 aircraft in July, which included a firmed-up order from Saudi Arabian Airlines, or Saudia, for 39 Boeing 787 Dreamliners, a deal first announced in March.

Persons: Brian West Organizations: Boeing, Max, Airbus, Saudi Arabian Airlines Locations: North Charleston , South Carolina, Saudi Arabian

Shares of the company rose 7% to hit a 1-1/2 year high after Boeing also posted second-quarter results above Wall Street expectations. The planemaker is now transitioning its 737 production line - including the MAX models that make up the vast majority of 737 production - to building 38 jets per month, up from 31, the company said. Calhoun later added the company is already in "prep mode" to raise monthly 737 production to 42, but wouldn't specify whether Boeing would do so in 2023, as Boeing Commercial Airplanes head Stan Deal said told Bloomberg TV in June. 'ENCOURAGING' RESULTS AMID CHALLENGESA photo of Boeing 737 MAX airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, U.S. March 21, 2019. Boeing expects to deliver most of the 228 MAXs in its inventory by the end of 2024, making it critical that Boeing step up production.

Persons: there'll, Dave Calhoun, Calhoun, Stan Deal, Brian West, Lindsey Wasson, Peter McNally, Refinitiv, Valerie Insinna, Abhijith Ganapavaram, Anil D'Silva, Nick Zieminski Organizations: Boeing, Boeing Commercial Airplanes, Bloomberg TV, Boeing Factory, REUTERS, Commercial Aerospace, Thomson Locations: Renton , Washington , U.S, West

☆ Boeing delivers 50 jets in May as 737 MAX rebounds from defect
▼ + stars: | 2023-06-13 | by ( Valerie Insinna | ) www.reuters.com time to read: +2 min

June 13 (Reuters) - Boeing (BA.N) delivered 50 jets in May, 13 fewer than European rival Airbus (AIR.PA), but a 43% improvement on the same month last year. Deliveries of the cash-generating Boeing 737 MAX increased to 35 jets in May, Boeing said Tuesday. The company handed over only 17 MAXs to customers the prior month, when Boeing found a bracket installation defect that forced it to fix aircraft before delivery. Boeing also delivered eight widebody 787 Dreamliners, three 767 freighters, three 777 freighters and a 737 that will be modified into a P-8 Poseidon maritime patrol aircraft for South Korea. Over the first five months of the year, Boeing delivered 206 aircraft - fewer than rival Airbus, which has delivered 244 over the same period.

Persons: Brian West, Valerie Insinna, Mark Potter Organizations: Boeing, Airbus, Paris Air, Wall Street, Air Niugini, Hong Kong International Aviation, Thomson Locations: South Korea

☆ Boeing deliveries fall by half in April due to 737 MAX bracket defect
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, May 9 (Reuters) - Boeing Co (BA.N) deliveries fell to 26 airplanes in April, less than half of the previous month's total, after a manufacturing defect forced the company to halt some shipments of its bestselling 737 MAX passenger jet. Deliveries of the MAX, which had climbed to 52 narrowbody jets in March, dropped to 17 planes last month. That left passenger jet deliveries for the U.S. planemaker at their lowest level since July 2022, as well as below the 35 planes delivered last April. Boeing Chief Financial Officer Brian West told investors in an earnings call last month that MAX deliveries would slow through the second quarter, but then grow to about 40 jets per month, with sequential quarterly improvement in the second half. Boeing has delivered 156 jets over the first four months of 2023, including 128 MAXs.

Boeing shares rose 2.5% in early afternoon trade after the company reaffirmed its plans to generate $3 billion to $5 billion in free cash flow this year, as well as deliver 400 to 450 737 MAXs and 70 to 80 787 Dreamliners. Deliveries will increase to about 40 MAXs a month during the back half of the year, he said. Reuters reported earlier this month that Boeing's schedule called for suppliers to produce 38 737 MAXs a month from June. Reuters GraphicsBoeing's first-quarter cash burn slowed to $786 million from $3.57 billion a year earlier on higher jet deliveries. Reporting by Abhijith Ganapavaram in Bengaluru and Valerie Insinna in Washington; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Boeing will increase 737 MAX production rates 'very soon'
▼ + stars: | 2023-03-30 | by ( Valerie Insinna | ) www.reuters.com time to read: +1 min

March 30 (Reuters) - Boeing Co (BA.N) will increase 737 MAX production rates above the current rate of 31 jet per month "very soon," the head of Boeing's commercial airplanes business said on Thursday. The company is also making progress with the new 737 MAX 7 model, which is "completing the final submittals" for Federal Aviation Administration certification, Stan Deal told reporters. "We've got a handful - less than a handful - left to go to the FAA," he said. I want them to be perfect, I want the FAA to feel comfortable, and then give them the time to go review." The company plans to increase monthly MAX production to 50 planes per month by the end of 2026.

Search resuls for: "Brian West"

25 mentions found