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☆ Airbus widens aircraft delivery lead over Boeing as Max crisis deepens
▼ + stars: | 2024-03-12 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Boeing handed over 27 airplanes to its customers last month as it continues to struggle with quality-control problems and production delays that have frustrated the CEOs of some of its biggest airline customers. So far this year, Boeing has handed over 54 planes, while Airbus has widened its lead over its main rival, delivering 79 planes in the first two months of 2024. Delayed Boeing planes have been difficult for airline leaders. Southwest Airlines , which flies only Boeing 737s, on Tuesday said it would trim capacity plans this year because of fewer Boeing Max deliveries and that it will have to reevaluate its 2024 financial estimates. Last week American Airlines announced a 260-narrow-body-airplane order split between Boeing, Airbus and Embraer.

Persons: Boeing Max, Max jetliners Organizations: Boeing, Airbus, Southwest Airlines, United Airlines, American Airlines, Embraer

With Boeing facing multiple government investigations, the company needs to make “a serious transformation” around its safety and manufacturing quality, Transportation Secretary Pete Buttigieg said Monday. That followed the company's admission that it couldn't find records that the National Transportation Safety Board sought for work done on the panel at a Boeing factory. “We will continue to cooperate fully and transparently with all government investigations and audits, as we take comprehensive action to improve safety and quality at Boeing," the company said. Alaska Airlines said it is cooperating with the Justice Department investigation. She told a Senate committee that Boeing had repeatedly rebuffed her agency's attempts to get information ever since the blowout.

Persons: Pete Buttigieg, Buttigieg, Max jetliner, ” Buttigieg, ”, Jennifer Homendy Organizations: Boeing, Transportation, Street Journal, Department of Justice, Alaska Airlines, National Transportation Safety, Federal Aviation Administration, DOJ, NTSB, Justice Department, Alaska, FAA, Max Locations: midlfight, Buttigieg's, Seattle, Arlington , Virginia

United Airlines said Monday it will lose money in the first three months of this year because of the grounding of its Boeing 737 Max 9 planes after a panel blew out of a Max jetliner this month. United said it expects to lose between 35 cents and 85 cents per share in the first quarter. United said it will recover to earn a full-year profit of between $9 and $11 per share. United has 79 Max 9s in its fleet, which numbers around 1,000 planes, not counting those used by regional affiliates. Shares of United Airlines Holdings Inc. fell 1% in regular trading, but rose 7% in the first few minutes of extended trading after release of the financial results and forecasts.

Persons: Max Organizations: Airlines, Boeing, Max, United, Alaska Airlines, Federal Aviation Administration, FactSet, United Airlines Holdings Inc Locations: Alaska, Oregon, Chicago

☆ Stocks making the biggest moves premarket: Boeing, Affirm, Crocs, Carlyle Group and more
▼ + stars: | 2023-11-28 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Affirm -- The fintech provider of "buy now pay later" services rose 2% after an upgrade to hold at Jefferies on Tuesday. Boeing -- The maker of 737 Max jetliners gained about 2% premarket after an upgrade to outperform at RBC Capital Markets. Carlyle Group -- The private equity asset manager with almost $400 billion under management climbed more than 5% premarket after S & P Dow Jones Indices added it to the S & P SmallCap 600 index effective premarket Thursday. Shopify -- Shares of the e-commerce platform fell nearly 3% premarket after Piper Sandler cut it to underweight from neutral. The Wall Street firm said the shares hold "an untenable valuation" because consensus growth and profit expectations are too aggressive.

Persons: Max jetliners, Ken Herber, Raymond James, Rick Patel, Carlyle, Dow, Samuel Brodovsky, Glaukos, Piper Sandler, —, Samantha Subin, Yun Li, Jesse Pound Organizations: Jefferies, Boeing, RBC Capital Markets, Dow Jones, Glaukos

☆ Boeing looks to sell at least 150 737 Max jets to Riyadh Air - Bloomberg News
▼ + stars: | 2023-05-28 | by ( ) www.reuters.com time to read: +1 min

May 28 (Reuters) - Boeing Co (BA.N) is working on a deal to sell at least 150 737 Max jetliners to Saudi Arabian startup Riyadh Air, Bloomberg News reported on Sunday. Airbus SE (AIR.PA) could also claim a part of the order, the report added. Boeing, Riyadh Air and PIF did not immediately respond to a Reuters request for comment. Boeing previously won another order by state-owned airline Saudia and Riyadh Air for a combined 78 Boeing 787 Dreamliners, the fifth-largest commercial order by value in the plane maker's history. (This story has been corrected to change the type of Boeing jetliner model from '747 Max' to '737 Max' in the headline and paragraph 1)Reporting by Jyoti Narayan in Bengaluru; Editing by Mark Porter and Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

☆ Boeing CEO stands by plans to increase 737 Max production despite recent flaw
▼ + stars: | 2023-04-18 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

A Boeing 737 MAX 8 sits outside the hangar during a media tour of the Boeing 737 MAX at the Boeing plant in Renton, Washington. Boeing 's CEO Dave Calhoun said that a flaw detected in some of its 737 Max planes won't hinder its supply chain plans for increased production of its bestselling jetliner this year. Boeing is also comfortable holding extra stock of aircraft supplies "so our supply chain can keep its pace," Calhoun added. Boeing is also planning to increase production of the planes, a goal that has proved challenging as the supply chain recovers from the pandemic. Calhoun said Tuesday the company is assessing the impact of the issue on 737 Max deliveries and apologized to customers but didn't provide more detail.

☆ Raytheon says can support mid-50 Airbus A320 output, backs Boeing target
▼ + stars: | 2023-02-22 | by ( Abhijith Ganapavaram | ) www.reuters.com time to read: +2 min

Feb 22 (Reuters) - Aerospace giant Raytheon Technologies Corp (RTX.N) can support a monthly production rate in the mid-50s range for Airbus SE's (AIR.PA) A320 aircraft this year, a target that appears slightly below the planemaker's planned output hike. Speaking at a Barclays conference on Wednesday, Raytheon Chief Executive Officer Greg Hayes backed Airbus rival Boeing Co's (BA.N) planned 737 MAX jet production hike. Boeing aims to raise the production of its bestselling 737 MAX jetliner from about 31 jets a month. Production targets of the planemakers are under the scanner by investors - albeit for different reasons. Raytheon-owned Pratt & Whitney's engines power all Airbus A220 jets and about half of A320neo aircraft.

☆ Boeing 737 MAX Flies Again With Chinese Airline After Nearly Four-Year Halt
▼ + stars: | 2023-01-13 | by ( Rachel Liang | ) www.wsj.com time to read: 1 min

Chinese airlines operated nearly 100 737 MAX aircraft as of the end of 2021. SINGAPORE—A Boeing Co. 737 MAX jetliner operated by China Southern Airlines took off from Guangzhou on Friday, in what industry experts say is the first commercial flight in nearly four years by a Chinese airline using the aircraft. According to customer service information available on China Southern’s website, the jet took off at 12:46 p.m. local time from the southern Chinese city of Guangzhou and was heading to Zhengzhou.

The move to strengthen industrial leadership comes after delays and cost overruns blighted a series of long-term projects for which Boeing is locked in to a fixed price. Chief Financial Officer Brian West said last month fixed-price defense contracts were being "knocked around" by supply chain problems, inflation and labor shortages. In 2006, incoming BCA chief Scott Carson appointed Jim Jamieson chief operating officer of the planemaking unit - a wide brief giving him effective oversight of jet manufacturing and development until his retirement about 18 months later. Those changes came just as Boeing was trying to juggle changes in manufacturing with the development of the Boeing 787, while still bearing the wounds of a 1997 production crisis. Airbus (AIR.PA) has long had a chief operating officer at its main planemaking arm, though in practice it is more than a divisional role as the defense and helicopter units slot in underneath.

☆ Boeing to pay $200 million to settle SEC charges on misleading investors after deadly 737 Max crashes
▼ + stars: | 2022-09-22 | by ( Leslie Josephs | ) www.cnbc.com time to read: 1 min

Boeing will pay $200 million and it then-CEO Dennis Muilenburg will pay $1 million to settle charges over misleading investors in the wake of two deadly crashes of 737 Max jetliners, the Securities and Exchange Commission said. "There are no words to describe the tragic loss of life brought about by these two airplane crashes," said SEC Chair Gary Gensler in a statement. The two crashes — one in October 2018 and another in March 2019 — killed all 346 people aboard the two flights and led to a worldwide grounding of the jetliners, which was first lifted in late 2020. Boeing fired Muilenberg in December 2019 in the midst of the planes' extended grounding and comments about when he expected regulators to clear the planes to fly again. The comments also strained the manufacturer's relationship with the Federal Aviation Administration, prompting public admonishment by the regulator.

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