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☆ SXSW weighs in after Texas governor tells artists pulling out of the music festival because of the US Army 'don't come back'
▼ + stars: | 2024-03-13 | by ( Ella Sherman | ) www.businessinsider.com time to read: +4 min

South by Southwest acknowledged artists who boycotted the festival due to US Army sponsorship. Despite the controversy, SXSW is maintaining its military sponsorship. Greg Abbott on Tuesday, after he demanded artists who pulled out of the festival due to US Army involvement not visit or return to Texas. The Army is hosting a range of panels at the festival from "Transforming for the Future: Innovation, Tech, and the Army" to "Unleash Your Beast: Army Functional Fitness." Mong Tong at the SXSW Music Opening Party Music Festival Showcase as part of SXSW 2024 Conference and Festivals held at the Palm Door on Sixth on March 12, 2024 in Austin, Texas.

Persons: Greg Abbott's, —, Greg Abbott, Governor Abbott, Abbott, Mong Tong, Diego Donamaria, Rachel Chinouriri, Chinouriri, Eliza McLamb, Ellen Lovett Organizations: US Army, Gov, SXSW, Service, Southwest, Army, Israel, U.S, Collins Aerospace, BAE Systems, RTX Corporation, Raytheon, Texas Tribune, Innovation, Tech, Getty, Star Locations: Southwest, Texas, Austin, Antonio, Austin , Texas

☆ NTSB probing ‘stuck’ control incident on Boeing 737 Max
▼ + stars: | 2024-03-07 | by ( Pete Muntean | Gregory Wallace | ) edition.cnn.com time to read: +2 min

CNN —Boeing is now party to a new federal investigation involving a 737 Max after United Airlines pilots reported that part of the flight controls became jammed as they landed in Newark last month. The investigation is the latest to involve a nearly-new Boeing 737 Max aircraft following the door plug blowout on an Alaska Airlines 737 Max 9 on January 5. The NTSB says in this latest incident, the 737 Max 8 was delivered from Boeing to United Airlines in February 2023. We’ll continue to work with Boeing, the NTSB and the FAA on next steps for these aircraft,” United said in a statement. “We worked closely with United Airlines to diagnose the rudder response issue,” Boeing said in a statement.

Persons: “, ‘, Max, We’ll, ” United, ” Organizations: CNN, Boeing, Max, United Airlines, National Transportation Safety, NTSB, Alaska Airlines, Collins Aerospace, FAA, ”, ” Boeing, United Locations: Newark, United

☆ NASA delays crewed Artemis moon missions into 2025 as companies navigate challenges
▼ + stars: | 2024-01-09 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

NASA is pushing back the schedule for upcoming missions of its flagship Artemis lunar program by about a year as the agency's contractors work to finish technology needed to return U.S. astronauts to the moon's surface. Artemis 2 — with a four-person crew, which NASA announced last spring — was previously planned to launch in November, while Artemis 3 had been targeting December 2025. The pair of missions are set to follow the uncrewed Artemis I mission that flew in 2022. The Artemis program represents a series of missions with escalating goals, aiming to return astronauts to the lunar surface for the first time since the Apollo era. Nelson's comments confirm reporting by CNN and Reuters that NASA would be pushing out the schedule for the program.

Persons: Artemis, Reid Wiseman Victor Glover, Christina Koch, Jeremy Hansen, Bill Nelson, —, Lockheed Martin, Elon, Jeff Bezos Organizations: NASA, Artemis, CNN, Reuters, Boeing, Northrop Grumman, Lockheed, SpaceX, Collins Aerospace, SpaceX's Locations: U.S

☆ How Emirates will keep the world's largest airliner flying for years to come —even though Airbus doesn't make it anymore
▼ + stars: | 2023-11-25 | by ( Taylor Rains | ) www.businessinsider.com time to read: +4 min

Emirates announced investments of more than $1.5 billion to keep its 119-strong fleet of Airbus A380s flying. While Airbus shut down production of the A380 in 2021, the move shows Emirates' continued commitment to the jet. AdvertisementAlthough global airlines continue to retire the mammoth Airbus A380 in favor of more fuel-efficient twin-engine aircraft, Emirates is long from giving up on its flagship airplane. AdvertisementThe billion-dollar investment comes despite Airbus shutting down production of the A380 in 2021 after sending off its last double-decker to Emirates. In January, the first of 67 superjumbos completed its full cabin overhaul as part of Emirates' $2 billion retrofit program.

Persons: —, Sir Tim Clark, Clark, Bob Lange, Alan Joyce Organizations: Emirates, Airbus, Service, Dubai Airshow, Collins Aerospace, Honeywell, Pratt & Whitney, Lufthansa Technik, Boeing, British Airways, Qantas, Korean, CNN Locations: Emirates, UAE, London, Los Angeles . Emirates

☆ US Air Force's new B-21 Raider "flying wing" bomber takes first flight - Reuters witness
▼ + stars: | 2023-11-10 | by ( Mike Stone | ) www.reuters.com time to read: +3 min

However, the Air Force has kept other price information classified, "which makes validating the proposed cost difficult," the Congressional Research Service said in a 2021 report. The Air Force plans to buy at least 100 of the planes and begin to replace B-1 and B-2 bombers. Ann Stefanek, an Air Force spokesperson said, "The B-21 Raider is in flight testing. Flight testing is a critical step in the test campaign managed by the Air Force Test Center and 412th Test Wings B-21 Combined Test Force." In early 2022, the Air Force further delayed it until 2023.

Persons: David Swanson, Ann Stefanek, Lockheed Martin, Northrop, Mike Stone, Valerie Insinna, Franklin Paul Organizations: United States Air, Northrop, Air Force, REUTERS, U.S, Air Force's, Northrop Grumman, Congressional Research Service, Pentagon, Air Force Test Center, Force, Boeing, Lockheed, Pratt, Whitney, Collins Aerospace, GKN Aerospace, BAE Systems, Franklin Paul Our, Thomson Locations: Palmdale , California, U.S, Washington

☆ Elon Musk appears to have given up on trying to camouflage his private-jet travels with an FAA program used by Jeff Bezos and Taylor Swift
▼ + stars: | 2023-10-28 | by ( Grace Kay | Taylor Rains | ) www.businessinsider.com time to read: +6 min

Last year, Elon Musk stopped using an FAA program allowing jet owners to fly incognito, JetSpy said. REUTERS/Aly SongThe FAA launched the PIA program in 2019 and has issued 390 alternate ID codes since the program began, an FAA spokesperson told Insider. Musk used his first alternate ID through the PIA program about a month later. The incognito registration number also doesn't prevent Sweeney from tracking the private jet via ADS-B Exchange, a public flight-tracking database. AdvertisementAdvertisement"The PIA program limits the ability to identify an aircraft in real-time using inexpensive, commercially available receivers," an FAA spokesperson told Insider.

Persons: Elon Musk, JetSpy, Musk, —, hasn't, Jack Sweeney, Sweeney, he's, LADD, it's, Elon, Aly Song, Forbes, Jeff Bezos, Taylor Swift, Christian Renneissen, Collins Organizations: FAA, Service, Twitter, Federal Aviation Administration, PIA, University of Central Florida, Gulfstream, Elon Locations: California, Texas, SpaceX's, Brownsville, Hawthorne, Shanghai, Rome

The company also approved a $10 billion share repurchase program that will be funded through short and long-term debt. But profit at RTX's Collins Aerospace unit, which deals with commercial aftermarket service, rose 22% to $903 million. RTX reported an overall third-quarter adjusted profit of $1.25 per share, beating Wall Street estimates of $1.21, according to LSEG data. The company now expects reported sales of $68.5 billion, up from about $67.5 billion, and adjusted sales of $74 billion, up from $73 billion. Adjusted earnings per share - previously projected to be $4.95 to $5.05 - are now expected to be between $4.98 and $5.02.

Persons: Benoit Tessier, Pratt, Whitney, RTX, Neil Mitchill, Pratyush Thakur, Mike Stone, Valerie Insinna, Krishna Chandra Eluri, Mark Potter Organizations: Raytheon Technologies Corporation, International Paris Air, Le, REUTERS, Collins Aerospace, Reuters, RTX, RTX's Collins Aerospace, Wall, Intelligence, Services, Raytheon, Thomson Locations: Le Bourget, Paris, France, Arlington , Virginia, Bengaluru, Washington

Economy seats account for 79.3% of seats between the U.S. and Europe, down from nearly 81.9% in 2018, before the pandemic, according to aviation data firm Cirium. Business-class seats' share of seats sold has grown slightly, from 12.9% to 13.5% though premium economy's share has increased even more, making up 6.4% of seats sold, up from 4.2% five years ago, while first class seats' share fell. Delta, JetBlue Airways , United Airlines , American Airlines , Finnair and Lufthansa are among the carriers that have recently announced upgraded first-class seats, suites with sliding doors or premium economy cabins. On rival United Airlines , a similar itinerary was nearly $1,850 in premium economy and $912 in standard coach. Business class easily tops $5,000 for that route.

Persons: DAL, Natalie Rasmussen, I'm, Rasmussen, Leslie Josephs, Edward Dryden, Delta Organizations: Airline, Delta Air Lines, Virgin Atlantic's, Virgin, U.S, JetBlue Airways, United Airlines, American Airlines, Finnair, Lufthansa, Singapore Airlines, CNBC, Collins Aerospace, Delta, Suites Locations: Europe, San Jose , California, London, Germany, Czech Republic, Delta, Emirates, New York, Paris

The deal to buy Collins' actuation and flights controls business marks the French engine and aircraft equipment maker's biggest acquisition since the 2018 purchase of seat maker Zodiac. "We are going to move towards more electrical actuation and flight controls," Safran's Chief Executive Officer Olivier Andries said. Collins Aerospace, part of U.S. aerospace and defence giant Raytheon Technologies, recently renamed RTX (RTX.N), said the sale would "optimize resources". Safran said its all-cash offer gave the business it is acquiring an enterprise value of $1.8 billion. Safran said Collins would remain a key customer for the business as a manufacturer of nacelles or engine housings for jetliners, making up 25% of the acquired activity's revenues.

Persons: France's Safran, SAF.PA, Collins, Olivier Andries, Safran, Andries, Pascal Bantegnie, Augustin Turpin, Tim Hepher, Jan Harvey, Jane Merriman, Elaine Hardcastle Organizations: Collins Aerospace, Raytheon Technologies, Airbus, Boeing, French Rafale, Parker Aerospace, Thomson Locations: U.S, Paris, American, Eaton, United States, Europe

☆ How 2 Gen X moms are grappling with food stamp cuts, surviving off $23 in monthly benefits and struggling to pay bills
▼ + stars: | 2023-06-25 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +6 min

Cuts have made it difficult for these Gen X moms to put food on the table or pay their bills. In mid-May, her Supplemental Nutrition Assistance Program, or SNAP, benefits check dropped from $516 to just $23. Starting in March, millions of Americans receiving SNAP benefits lost hundreds of dollars from their grocery budgets as the pandemic-era food stamps expansion ended. To supplement her sudden drop in benefits, she's gotten food from local food pantries, though they rarely had meats, gave out expired breads, and mostly had canned foods. Do you rely on SNAP benefits and are affected by these changes?

Persons: —, Venus Barnes, She's, she's, everybody's, Barnes, Joe Biden, Kevin McCarthy, — Barnes, I've, I'm, Khiana Organizations: SNAP, Service, Collins Aerospace, Assistance, Social, Food Research, Action, Security, Insurance Locations: North Carolina, Maryland

☆ Safran nears $1.8 billion deal to acquire Raytheon's flight controls unit
▼ + stars: | 2023-06-14 | by ( David Carnevali | ) www.reuters.com time to read: +2 min

June 14 (Reuters) - French aerospace engine maker Safran SA (SAF.PA) is nearing an approximately $1.8 billion deal to acquire a Raytheon Technologies Corp (RTX.N) unit that makes flight controls for aircraft, helicopters and missiles, according to a person familiar with the matter. Safran may reach a deal to acquire Raytheon's actuation business that makes flight controls as early as this week, the source said, asking not to be identified because the matter is confidential. Spokespeople for Safran and Raytheon did not immediately respond to requests for comment. Safran said on June 5 it was participating in a "competitive process" for Raytheon's flight controls business, without commenting on the chances of an agreement or the terms of a deal. The Raytheon business will strengthen Safran's ties with Airbus SE (AIR.PA), since it sells into many of its commercial aircraft and has some operations in France.

Persons: Safran, Parker, Spokespeople, Olivier Andries, Rockwell Collins, Greg Hayes, David Carnevali, Louise Heavens Organizations: Safran SA, Raytheon Technologies Corp, Raytheon, United Technologies, Moog Inc, Eaton Corp, Woodward Inc, Hannifin, Bloomberg News, Safran's, French, Zodiac Aerospace, Airbus, U.S ., Rockwell, Collins Aerospace, Thomson Locations: France, New York

☆ Economy class airplane bunk beds get seal of approval as launch moves closer
▼ + stars: | 2023-06-07 | by ( Francesca Street | ) edition.cnn.com time to read: +4 min

Now the concept’s got the industry seal of approval via a prestigious Crystal Cabin Award, presented at the 2022 Aircraft Interiors Expo (AIX) in Hamburg, Germany. “Bunk-bed solution for economy class – this is something which you regularly see as a concept,” said Kaestner. “But we rarely see this level of innovation actually becoming a real product that’s flying.”Winning designsThe Skynest concept offers a lie-flat option for economy passengers. Courtesy Air New ZealandThe Crystal Cabin Awards announced its longlist earlier this year, before whittling the categories down to a shortlist. For student nominees, the Crystal Cabin Awards are “a fantastic way to get into the industry,” added Kaestner.

Persons: Skynest, Lukas Kaestner, Skynest isn’t, “ Bunk, ”, Collins, Kaestner, it’s heartening, there’s, they’ll, Alejandro Núñez Vicente, InteliSence Organizations: Germany CNN — Air, CNN Travel, New, Delft University of Technology, Delta, Air, Zealand, Thales Avionics “, Center, Safety, Teledyne, Collins Aerospace, Digital Services, University, Technical University of Delft Locations: Hamburg, Germany, Netherlands

☆ Travel recovery boosts jet engine units at GE and Raytheon
▼ + stars: | 2023-04-25 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Technicians assemble a General Electric Co. CFM56-7B jet engine at the company's Aviation Assembly & Test facility in Research Triangle Park in Durham, North Carolina. A recovery in air travel is lifting sales and repairs at the aircraft engine units of General Electric and Raytheon Technologies as Boeing and Airbus scramble to increase their production rates of new planes. The unit makes engines for Boeing's 737 Max planes and Airbus' A320 family of narrow-body aircraft. Raytheon's Pratt & Whitney engine unit sales increased 15% from a year earlier to $5.23 billion. The improvements in those companies come as Airbus and Boeing are trying to increase their output of new planes for airlines.

☆ How airplane seat refurbishing became a billion-dollar industry
▼ + stars: | 2023-03-29 | by ( Erin Black | ) www.cnbc.com time to read: +1 min

The aircraft-interiors market was a $6.5 billion business in 2022, according to AeroDynamic Advisory and Tronos Aviation Consulting. The total seat market was $2.9 billion, with new seats at $933 million, retrofitted seats at $1.39 billion and repairs and other interior items making up the rest of the market. An airline may choose to refurbish seats versus replacing seats based on a few factors which include age of aircraft, age of the actual seats and cost. CNBC visited Latitude Aero, a refurbishment company in Greensboro, North Carolina, to see what goes into giving airplane seats a second life. A small company compared to seat manufacturers like Collins Aerospace and Zodiac Aerospace, Latitude has nonetheless enjoyed some healthy growth recently.

☆ Axiom unveils spacesuits for NASA's upcoming Artemis moon missions
▼ + stars: | 2023-03-15 | by ( Michael Sheetz | ) www.cnbc.com time to read: +1 min

Chief Engineer Jim Stein wears the new spacesuit during the Axiom Space Artemis III Lunar Spacesuit event at Space Center Houston in Houston, Texas, on March 15, 2023. "We're pleased that humanity's next steps on the moon are going to be in an Axiom spacesuit," Suffredini added. NASA's Artemis program represents a series of missions with escalating goals. In addition to Axiom, NASA also awarded a contract to Collins Aerospace, a subsidiary of Raytheon , to build next-generation spacesuits. Under the Exploration Extravehicular Activity Services program, NASA expects to provide up to $3.5 billion for spacesuits through 2034.

☆ NASA’s $3.5 billion plan to redesign its aging spacesuits
▼ + stars: | 2023-02-22 | by ( Magdalena Petrova | ) www.cnbc.com time to read: +2 min

NASA has been using the current spacesuits on the International Space Station for decades and they are showing their age. "The spacesuits that are being used now in the International Space Station by NASA are suits that were really designed in the '70s. Now the agency is turning to two commercial companies: Axiom Space and Collins Aerospace, a subsidiary of Raytheon Technologies , to build and maintain its new generation of spacesuits. Under the Exploration Extravehicular Activity Services Contract, or xEVAS, NASA is providing Collins and Axiom, along with a number of their industry partners, with up to $3.5 billion through 2034. NASA hopes to use this new suit on the International Space Station by 2026.

☆ NASA's $3.5 billion contract has it renting its next-generation spacesuits
▼ + stars: | 2023-02-22 | by ( Magdalena Petrova | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNASA's $3.5 billion contract has it renting its next-generation spacesuitsNASA's been using the current spacesuits on the International Space Station for decades and they are showing their age. The agency has had issues not only with finding the proper sizes to fit its increasingly diverse astronaut corps, but also with degradation of some suit components. Now NASA is turning to two commercial companies, Axiom Space and Collins Aerospace, a subsidiary of Raytheon Technologies, to build and maintain its new generation of spacesuits.

Jan 24 (Reuters) - Aerospace and defense major Raytheon Technologies Corp (RTX.N) on Tuesday beat analysts' estimates for fourth-quarter profit, as strong travel demand across the globe boosted demand for its jet engines, parts and services. Raytheon reported an adjusted net income of $1.27 per share in the quarter ended Dec. 31, above analysts' average estimate of $1.24 per share, according to Refinitiv data. The Arlington, Virginia based company's avionics unit, Collins Aerospace, reported a 14.6% increase in its quarterly sales and a 60.7% jump in operating profit in the reported quarter. Raytheon's missiles and defense unit's sales were up 6.2% to $4.1 billion in the fourth quarter. Raytheon's fourth-quarter net sales were up 6.2% at $18.09 billion, missing analysts' average estimate of $18.15 billion.

☆ Here's why we're overhauling our Bullpen watch list — adding five stocks and removing two
▼ + stars: | 2022-12-09 | by ( Jeff Marks | ) www.cnbc.com time to read: +13 min

We're making several updates to our Bullpen watch list: adding five names, including Caterpillar (CAT), and removing two. Also, adding a stock to the Bullpen does not necessarily mean we would buy it at the current price. Let's go company by company to explain the reasons behind the additions and the removals. 5 stocks added to the Bullpen This aerospace and defense company was formed in 2020 through the combination of Raytheon Company and United Technologies Corporation's aerospace business. 2 stocks removed by the Bullpen We put Barrick Gold in the Bullpen back in March, thinking investors may seek out gold stocks as a safe haven during times of crisis.

☆ Honeywell is well-positioned to capitalize on pockets of strength in the economy
▼ + stars: | 2022-12-06 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +6 min

Aerospace well positioned Honeywell's aerospace division — which supplies parts to plane makers Boeing (BA) and European rival Airbus — falls on the positive end of the economic spectrum. Warehouse automation weaker While Honeywell's warehouse automation business saw growth in the first two years of the Covid pandemic, it's been hurt by the shift in consumer spending toward services, away from goods. The change in how dollars are being spent has led to challenges for retailers and, by extension, softened demand for Honeywell's warehouse automation offerings. "We look at the other end like warehouse automation, which is really tied to retail growth and products and distribution. This means that revenue growth may decline year-over-year, but each dollar of warehouse automation sales could be more profitable in 2023 than in 2022.

☆ Northrop Grumman unveils B-21 nuclear bomber for U.S. Air Force
▼ + stars: | 2022-12-02 | by ( Mike Stone | ) www.reuters.com time to read: +2 min

[1/5] Northrop Grumman unveils the B-21 Raider, a new high-tech stealth bomber developed for the U.S. Air Force, during an event in Palmdale, California, U.S., December 2, 2022. REUTERS/David SwansonWASHINGTON, Dec 2 (Reuters) - Northrop Grumman Corp (NOC.N) on Friday rolled out its new B-21 "Raider" jet, the first of a new fleet of long-range stealth nuclear bombers for the United States Air Force. The B-21 was unveiled during a dramatic ceremony at Northrop's Plant 42 in Palmdale, California, offering members of the public the first look at the new bomber. The Air Force planned to buy at least 100 of the planes and begin to replace B-1 and B-2 bombers. More than 8,000 people from Northrop Grumman, industry partners and the Air Force currently work on the program.

☆ It looks like Elon Musk started using a new program that blocks jet tracking after the man who follows his plane wouldn't take his Twitter account down
▼ + stars: | 2022-10-26 | by ( Grace Kay | Taylor Rains | ) www.businessinsider.com time to read: +4 min

The program allows aircraft owners to apply for a temporary aircraft registration number that is not currently attached to any other plane — meaning that celebrities like Musk can essentially fly anonymously. The PIA program allows aircraft owners to switch out their registration number every 60 days. The incognito registration number also doesn't prevent Sweeney from tracking the private jet via ADS-B Exchange, a public flight-tracking database. Elon Musk's private jet flight with PIA flag, tracked by Jack Sweeney. Jack Sweeney via ADS-B ExchangeMusk is also on the FAA's free "Limiting Aircraft Data Displayed" program, or LADD list.

Oct 25 (Reuters) - Aerospace supplier Raytheon Technologies Corp (RTX.N) on Tuesday posted a near 5% rise in its third-quarter revenue, as strong air travel demand allowed the company to sell more engines, parts and services. Register now for FREE unlimited access to Reuters.com RegisterBut on the upside, demand for aftermarket sales and services has risen at Pratt & Whitney and Raytheon's avionics and parts unit Collins Aerospace, as planes are forced to use existing fleet for longer. In the third quarter, both Collins Aerospace and Pratt & Whitney recorded double-digit sales. "We note, Raytheon (Pratt and Collins) and Safran intend to implement substantial price increases in Q4 – likely above 10% – for commercial aftermarket parts and services. However, supply chain constraints was a drag on the company's missiles and defense unit, where sales fell 6%.

☆ Airlines have the passengers. Now they need the planes
▼ + stars: | 2022-10-25 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

But new planes are in short supply, they warned, limiting growth and keeping fares high. JetBlue Airways said Tuesday that it was supposed to receive 29 planes from Airbus next year but will only get about 22. That means airlines that had parked planes and slashed growth are now struggling to expand. Boeing and Airbus, which didn't immediately comment, are set to report results on Wednesday and Friday, respectively. Raytheon's Pratt and Whitney engines fly on both Boeing and Airbus planes, and its Collins Aerospace unit supplies both manufacturers.

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