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☆ American Airlines cuts some international flights into 2025 citing Boeing delivery delays
  + stars: | 2024-04-26 | by ( Leslie Josephs | ) www.cnbc.com   time to read: +2 min
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
☆ Open seating no more? Southwest CEO says airline is weighing cabin changes
  + stars: | 2024-04-25 | by ( Leslie Josephs | ) www.cnbc.com   time to read: +1 min
Southwest Airlines is weighing changes to its cabin that could involve abandoning its single-class, open-seating system to drive up revenue, CEO Bob Jordan told CNBC on Thursday. The changes would mark a massive shift for the carrier that has stood apart from rivals for decades with its simpler business model. Southwest's all-Boeing 737 fleet has a single economy class cabin and no seating assignments, though it does offer earlier boarding to customers for a fee so they can snag their preferred seats. The airline has focused on keeping its product simple and user-friendly for years, aiming to keep its own costs and complexity to a minimum. Meanwhile, rivals including Delta and United have touted high revenue growth for premium seating such as business class and strong upsell rates.
Persons: Bob Jordan, Jordan Organizations: Airlines, CNBC, Boeing, Delta
☆ Southwest loss widens, airline warns Boeing airplane delays will hit growth into 2025
  + stars: | 2024-04-25 | by ( Leslie Josephs | ) www.cnbc.com   time to read: +2 min
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 swings to a loss, but tops estimates for Q2 forecast
  + stars: | 2024-04-25 | by ( Leslie Josephs | ) www.cnbc.com   time to read: +2 min
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
☆ Boeing reports quarterly results before the bell. Here's what Wall Street expects
  + stars: | 2024-04-24 | by ( Leslie Josephs | ) www.cnbc.com   time to read: +1 min
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
☆ JetBlue shares tumble 10% after airline lowers 2024 revenue outlook
  + stars: | 2024-04-23 | by ( Leslie Josephs | ) www.cnbc.com   time to read: +2 min
JetBlue Airways shares tumbled more than 10% in premarket trading Tuesday after the airline lowered its 2024 revenue forecast, a setback as it tries to return to profitability. The carrier said second-quarter revenue would likely drop as much as 10.5% on the year, more than double the decline analysts polled by LSEG expected. JetBlue has been on a cost-cutting spree, culling unprofitable routes, and focusing on those with steady demand and high sales for premium seats. JetBlue earlier this year said it would defer $2.5 billion in aircraft spending until the end of the year. Revenue dropped 5.1% from last year to $2.21 billion, matching LSEG revenue expectations.
Persons: LSEG, Joanna Geraghty, Pratt Organizations: JetBlue Airbus A321neo, AMS EHAM, JetBlue Airways, JetBlue, Spirit Airlines, Pratt & Whitney, Revenue Locations: Amsterdam, Netherlands, New York, Delta, America
☆ Boeing expects slower production increase of 787 Dreamliner because of parts shortages
  + stars: | 2024-04-22 | 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 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
☆ Delta Air Lines gives staff another 5% raise, hikes starting wages to $19 an hour
  + stars: | 2024-04-22 | by ( Leslie Josephs | ) www.cnbc.com   time to read: +1 min
Delta Air Lines jets are seen on a taxiway at Hartsfield-Jackson Atlanta International Airport in Atlanta on Dec. 22, 2021. Delta Air Lines said it is raising staff pay by another 5% this year as the country's most profitable airline prepares for the busy summer travel season. The pay increase, which starts June 1, applies to workers including flight attendants, ground handlers, mechanics and some office workers, among others. Delta raised staff pay by 5% last year and the pay hike unveiled Monday is the third the Atlanta-based carrier has announced since 2022. With the new raises, starting pay at Delta's mainline operation in the U.S. will rise to $19 an hour from $16.55.
Persons: Delta, Ed Bastian Organizations: Delta Air Lines, Jackson Atlanta International Airport, Association of Flight, CWA Locations: Hartsfield, Atlanta, U.S
☆ Ex-JetBlue CEO Robin Hayes to run Airbus North America
  + stars: | 2024-04-22 | by ( Leslie Josephs | ) www.cnbc.com   time to read: +1 min
Robin Hayes, chief executive officer of JetBlue Airways Corp., speaks during an Economic Club of New York event in New York, US, on Wednesday, March 29, 2023. Former JetBlue Airways CEO Robin Hayes will run Airbus' North America arm, replacing Jeffrey Knittel, the airplane maker said Monday. Hayes, a longtime airline executive who has also held senior leadership roles at British Airways, will start in June. He will be managing Airbus' business in the region, where it has expanded production of narrow-body jets in Mobile, Alabama. It has customers including Delta Air Lines , his former employer JetBlue and the carrier's acquisition target Spirit.
Persons: Robin Hayes, Jeffrey Knittel, Hayes Organizations: JetBlue Airways Corp, Economic, of New, Former JetBlue Airways, Airbus, JetBlue, Spirit Airlines, Justice Department, British Airways, Delta Air Lines Locations: of New York, New York, North America, Mobile , Alabama
☆ FAA will require more rest time for air traffic controllers amid fatigue concerns
  + stars: | 2024-04-19 | by ( Leslie Josephs | ) www.cnbc.com   time to read: +1 min
The head of the Federal Aviation Administration on Friday said the agency will increase the required amount of rest time for air traffic controllers in response to concerns over fatigue amid a staffing shortage. "In my first few months at the helm of the FAA, I toured air traffic control facilities around the country — and heard concerns about schedules that do not always allow controllers to get enough rest," FAA Administrator Mike Whitaker said in a statement. A shortfall of air traffic controllers, made worse by a pause in hiring during the Covid-19 pandemic, has led to forced overtime and packed schedules for staff at some facilities. Air traffic controllers in the U.S. are required to retire at age 56. The announcement came alongside an FAA-ordered report on air traffic controller fatigue, which recommended the new rest requirements.
Persons: Mike Whitaker Organizations: Federal Aviation Administration, FAA, Boeing, Air Locations: U.S
☆ Alaska Airlines 2024 forecast tops estimates after loss from Boeing Max grounding
  + stars: | 2024-04-18 | by ( Leslie Josephs | ) www.cnbc.com   time to read: +3 min
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
☆ Airline executives predict a record summer and even more demand for first class
  + stars: | 2024-04-17 | by ( Leslie Josephs | ) www.cnbc.com   time to read: +3 min
While the aviation industry has been in the spotlight lately for a host of safety issues, airline executives say there is no sign of slowing demand for flights. United Airlines "as an airline and as an industry" will carry record numbers of travelers this summer, the carrier's Chief Commercial Officer Andrew Nocella said on an earnings call Wednesday. "Demand continues to be strong, and we see a record spring and summer travel season with our 11 highest sales days in our history all occurring this calendar year," Delta Air Lines CEO Ed Bastian said on his company's call a week earlier. Customers appear willing to pay up for first class and other cabins above standard coach, executives said. Some of those carriers have struggled in recent months because of higher capacity, limited airplane availability and higher costs.
Persons: Andrew Nocella, Ed Bastian, Nocella Organizations: United Airlines, Air, American Airlines, Southwest Airlines, Boeing, Federal Aviation Administration, . Airlines Locations: Delta, United
☆ Boeing faces scrutiny in Senate hearings over aircraft safety and quality
  + stars: | 2024-04-17 | by ( Leslie Josephs | ) www.cnbc.com   time to read: +2 min
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 ,
☆ United Airlines slashes 2024 aircraft delivery plan as Boeing crisis leads to delays
  + stars: | 2024-04-16 | by ( Leslie Josephs | ) www.cnbc.com   time to read: +3 min
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
☆ Boeing defends 787 Dreamliner safety after whistleblower alleged structural flaws
  + stars: | 2024-04-15 | by ( Leslie Josephs | ) www.cnbc.com   time to read: +4 min
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
☆ World's busiest airports show surge in international travel. Here are the rankings
  + stars: | 2024-04-15 | by ( Leslie Josephs | ) www.cnbc.com   time to read: +1 min
Dubai International Airport ranked as the second busiest in 2023, up from fifth place in 2022 and fourth place in 2019, according to Airports Council International's preliminary ranking, which was released on Monday. The resurgence of international travel has been a bright spot for airlines with big international networks, while ultra-low-cost, domestic-focused U.S. airlines have struggled in recent months. Domestic U.S. airports continued to post big gains in passenger counts, but some slipped in the rankings compared with the middle of the pandemic, when international travel restrictions limited long-haul trips abroad. Hartsfield-Jackson Atlanta International Airport, Delta Air Lines ' biggest hub, once again topped the list of the busiest airports, serving 104.7 million passengers, ACI said. Here are the 2023 rankings (with 2022 rankings in parentheses):
Organizations: British Airways Airbus, Heathrow Airport, Dubai International Airport, International Airport, Global, ACI, Domestic U.S, Airport, United Airlines, Hartsfield, Jackson Atlanta International Airport, Delta Air Lines Locations: London, Britain, Tokyo, Denver, United, ACI's
☆ Earnings playbook: Your guide to trading the biggest reports of the week, including Netflix and Goldman Sachs
  + stars: | 2024-04-14 | by ( Fred Imbert | ) www.cnbc.com   time to read: +8 min
What history shows: Goldman Sachs beats earnings estimates 85% of the time, according to Bespoke Investment Group. What CNBC is watching: Bank of America shares have struggled lately, losing 5.6% this month as investors reprice rate cut expectations. Morgan Stanley is set to report earnings before the open. United Airlines is set to report earnings after the close. Thursday Netflix is set to report earnings after the close.
Persons: Goldman Sachs, Morgan Stanley, JPMorgan Chase, Goldman, Devin Ryan, Morgan, Ryan, UNH, UnitedHealth, LSEG, UAL, Leslie Josephs, Oppenheimer, Jason Helfstein, Procter & Gamble, Dara Mohsenian, Procter Organizations: Bank of America, Netflix, JPMorgan, CNBC, JMP Securities, Investment, Tuesday Bank of America, UBS, BofA, Dow Jones Industrial, Street, United Airlines, Boeing, Max, Federal Aviation Administration, San Francisco, United, Procter & Locations: Charlotte, San, U.S, China
☆ Airspace closures throughout the Middle East ground, divert flights as Iran launches drone attack on Israel
  + stars: | 2024-04-13 | by ( Leslie Josephs | ) www.cnbc.com   time to read: +1 min
El Al plane is seen at the Ben Gurion International Airport in Tel Aviv on December 31, 2022. (Photo by Jakub Porzycki/NurPhoto via Getty Images)Airspace closures through the Middle East grounded and diverted flights on Saturday as Iran launched drones toward Israel. United Airlines , which resumed service to Tel Aviv early last month after suspending Israel flights after the Hamas attacks in October, called off its Newark to Tel Aviv flight on Saturday after Israel closed its airspace. American Airlines has not resumed Israel service. Flight-tracking site Flightradar24 said multiple flights bound for Tel Aviv and Amman had diverted on Saturday.
Persons: Jakub Porzycki, Delta, Flightradar24 Organizations: El, Ben Gurion International, Getty, United Airlines, Israel, American Airlines, Washington Dulles International Locations: Tel Aviv, Iran, Israel, United, Newark, Jordan, Iraq, Jordanian, Amman
☆ Marjorie Taylor Greene won’t say what happened to her Trump Media stock
  + stars: | 2024-04-12 | by ( Brian Schwartz | ) www.cnbc.com   time to read: +4 min
Asked by CNBC and NBC News, Greene wouldn't say what happened to her stock in Digital World Acquisition Corp., which, through a merger with Trump Media and Technology Group, recently started publicly trading as DJT. Trump Media is the parent company of the former president's social media app, Truth Social. A spokesman for Bucshon confirmed to CNBC and NBC News that the Indiana lawmaker still owns stock in the now-merged media company despite the dipping stock price. But Greene would not say what's happened to her stock since her original purchase and her public disclosures have not shown that she sold DWAC or Trump media stock, according to documents archived by LegiStorm, raising questions among ethics lawyers about what happened to Greene's stock. Greene also would not say when asked by NBC News on Wednesday what happened to her Trump Media stock.
Persons: Marjorie Taylor Greene, Donald Trump, doesn't, Greene wouldn't, Greene, Larry Bucshon, Trump, Bucshon, DWAC, Chris Josephs, Josephs, Nick Dyer Organizations: Nasdaq, CNBC, NBC News, Trump Media, Technology Group, Social, DWAC, Indiana, Trump Locations: Rome , Georgia, DWAC
☆ Delta tops quarterly earnings expectations, focuses on efficiency as growth steadies
  + stars: | 2024-04-10 | by ( Leslie Josephs | ) www.cnbc.com   time to read: +2 min
Delta's adjusted earnings of $288 million, or 45 cents a share, rose from $163 million, or 25 cents a share in the first quarter of 2023. Here's how the company performed in the three months ended March 31, compared to Wall Street expectations based on consensus estimates from LSEG:Adjusted earnings per share: 45 cents vs. 36 cents expected. 45 cents vs. 36 cents expected. Adjusted revenue: $12.56 billion vs. $12.59 billion expected. Delta forecast second-quarter earnings of $2.20 to $2.50 per share, while analysts forecast between $2.23 per share on average, according to LSEG.
Persons: Ed Bastian, Bastian, Delta, Dan Janki Organizations: Airbus, Delta Air Lines, Toulouse Blagnac, Delta, LSEG, Corporate, CNBC Locations: Toulouse, Atlanta, France, LSEG, Delta
☆ 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
☆ Eclipse flights swarm airports: 'We had to close the runway to park planes'
  + stars: | 2024-04-08 | by ( Leslie Josephs | ) www.cnbc.com   time to read: +1 min
An airplane passes during a partial solar eclipse seen from Queens, New York City, U.S., April 8, 2024. Monday's solar eclipse is giving some of the country's smaller airports their moment in the sun. The Federal Aviation Administration reported arriving flights at airports from Burlington, Vermont, to southern Illinois were briefly halted Monday morning ahead of the total eclipse. The best views of the solar eclipse in the U.S. span from Texas through Illinois, Kentucky and Ohio to northwestern New York and Maine, according to NASA. "We had to close the runway to park planes," Alyssa Connell, head of operations at Southern Illinois Airport in Murphysboro, Illinois, told CNBC.
Persons: Alyssa Connell, Patrick Leahy, Dave Carman, It's, Carman Organizations: Federal Aviation Administration, NASA, FAA, Southern Illinois Airport, CNBC, International Locations: Queens , New York City, U.S, Burlington , Vermont, Illinois, Texas, Illinois , Kentucky, Ohio, New York, Maine, Murphysboro , Illinois, Vermont
☆ Spirit Airlines will defer Airbus orders, furlough 260 pilots in race to shore up liquidity
  + stars: | 2024-04-08 | by ( Leslie Josephs | ) www.cnbc.com   time to read: +3 min
Spirit Airlines said Monday that it will defer deliveries of new Airbus planes and that it plans to furlough about 260 pilots as it tries to boost liquidity. Spirit said it will defer all Airbus planes it has on order that were scheduled to be delivered from the second quarter of 2025 through the end of 2026. The budget airline said the deferrals would boost its liquidity by about $340 million over the next two years. United Airlines pilots' union last month said the company is offering unpaid time off for pilots next month because of late-arriving planes from Boeing . The Air Line Pilots Association, Spirit pilots' union, said Monday it is exploring voluntary measures that could limit the number of pilot furloughs.
Persons: Ted Christie, Christie, Pratt, Spirit, Whitney, Ryan Muller Organizations: Spirit Airlines, Airbus, Pratt & Whitney, JetBlue Airways, Whitney, Association of, United Airlines, Boeing, Air Line Pilots Association, Spirit Locations: Miramar , Florida, City , New Jersey
☆ Why the Boeing 737 Max has been such a mess
  + stars: | 2024-04-06 | by ( Erin Black | Jeniece Pettitt | Jason Reginato | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy the Boeing 737 Max has been such a messBoeing's 737 has been around since the 1960s. There have been many variations of the aircraft but the 737 Max, which debuted in 2017, has encountered problem after problem over the last five years. From two fatal Max 8 crashes in 2018 and 2019 to the more recent incident of a door plug falling off a plane during take off from Portland, Oregon. CNBC explores how the 737 Max crisis unfolded and what the future holds for Boeing's best-selling jet.
Persons: Max Organizations: Boeing, CNBC Locations: Portland , Oregon
☆ Boeing CEO Calhoun took home $5 million last year, compensation package hit by Max crisis
  + stars: | 2024-04-05 | by ( Leslie Josephs | ) www.cnbc.com   time to read: +3 min
Calhoun's total compensation last year rose 45% to $32.8 million, up from $22.6 million in the prior year. The manufacturer is grappling with the fallout of a door plug panel that blew out midair from a 737 Max operated by Alaska Airlines in January. Boeing disclosed the take-home pay, which did not include a 2023 bonus Calhoun declined that was valued at $2.8 million, and executive compensation in a filing on Friday. Calhoun took the helm at Boeing in January 2020 after his predecessor was ousted for his handling of the aftermath of two fatal crashes of the 737 Max. The Justice Department is investigating the Alaska Airlines accident and the Federal Aviation Administration has capped Boeing's 737 Max production until it signs off on Boeing's quality control.
Persons: Dave Calhoun, Dave Calhoun's, Max, Stan Deal, Calhoun, Steve Mollenkopf, aren't Organizations: Capitol, Washington , D.C, Boeing, Alaska Airlines, Justice, Federal Aviation Administration Locations: Washington ,
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