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☆ Dave Calhoun was supposed to turn Boeing around, but after 4 years on the job, he's out. Here's where things went wrong.
▼ + stars: | 2024-03-29 | by ( Pete Syme | ) www.businessinsider.com time to read: +8 min

It makes him the second successive chief to go after a 737 Max crisis. AdvertisementOn Monday morning, Dave Calhoun became the second successive Boeing CEO to lose his job in the wake of a 737 Max crisis. Muilenburg was terminated as the planemaker fought for its reputation after 346 people died in two 737 Max 8 crashes in 2018 and 2019. After the longest-ever grounding for a US airliner, the 737 Max was ungrounded 10 months into Calhoun's reign. Win McNamee/Getty ImagesMost people's concerns about the 737 Max looked to have been assuaged, until the Alaska Airlines blowout on January 5.

Persons: Dave Calhoun, —, Stan Deal, Calhoun, Boeing's, Dennis Muilenburg, Muilenburg, Max, Dennis, Win McNamee, Bob Clifford, Timothy Hubbard, Hubbard, Clifford, DAVID RYDER, Critics, Justin Green, Green Organizations: Boeing, Service, Airbus, Federal Aviation Administration, MCAS, Alaska Airlines, National Transportation Safety, Justice, FBI, Ethiopian, Alaska Air, United Airlines, Boeing's, Street Journal, The, Current, Business, University of Notre Dame, CNBC Locations: MCAS, Southwest , Alaska, Calhoun, Virginia, Seattle, Boeing's, Renton , Washington

☆ Air India is rebranding after years of decline. Here are the biggest changes, from updated uniforms to swanky new Airbus A350s.
▼ + stars: | 2024-02-28 | by ( Taylor Rains | ) www.businessinsider.com time to read: +7 min

The new plane launched on domestic routes, like Bengaluru and Mumbai, in January and will eventually launch overseas, Air India says. It's very likely to fly to the US, though Air India has yet to release specific cities. Air India's business class is also way behind industry standards. Flight attendants and pilots are getting a makeoverIn December, Air India released photos of its new crew uniforms. Ground staff, engineers, and security personnel are also set to get new uniforms, which Air India said it will reveal in "due course."

Persons: —, Campbell Wilson, Taylor Rains, It's, Wilson, Christophe Archambault, Manish Malhotra Organizations: Service, Air India, Tata Group, Air, Business, Tata, Airbus, Boeing, Wings, Paris Airshow, Airbus A320neos, Russian, Aeroflot, India's Boeing, Qatar Airways, Delta Air Lines, Emirates, Q, Getty Images Air, Air India's Boeing Locations: India, Hyderabad, Bengaluru, Mumbai, Air India, AFP, Getty Images Air India, Qatar, Emirates

☆ Electric air transport is set to take off with taxis, ambulances, cargo deliveries by end of this decade
▼ + stars: | 2024-02-26 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +4 min

A model of a Wisk Aero LLC electric vertical takeoff and landing (eVTOL) air taxi during the Singapore Airshow in Singapore, on Wednesday, Feb. 21, 2024. Bloomberg | Bloomberg | Getty ImagesSINGAPORE — Among displays of defense jets, passenger airliners and high-tech aviation equipment at the Singapore Airshow were electric air transport vehicles — touted as the future of urban transportation. Electric vertical take-off and landing vehicles, or eVTOLs, which can land and take off vertically can be used as air taxis, for cargo delivery, medical and emergency response transportation and as private vehicles. A vertical takeoff electronic aircraft from Supernal is seen outside the Las Vegas Convention Center during the Consumer Electronics Show in Las Vegas, Nevada on Jan. 10, 2024. A cabin of an electric vertical take-off and landing (eVTOL) aircraft developed by Eve Air mobility displayed during the International Paris Air Show on June 20, 2023.

Persons: eVTOLs, Brendan Smialowski, Johann Bordais, Eve, Jaiwon Shin, Shin, Supernal's, Tencent, Catherine MacGowan, Wisk, MacGowan, Supernal's Shin, Geoffroy Van Der Organizations: Aero, Bloomberg, Getty, Singapore Airshow, CNBC, Hyundai Motor Group, Boeing, Embraer, Air Mobility, Las Vegas Convention, Consumer, Afp, Mobility, Singapore, Asia Companies, Olympic, Japan Airlines, Korea's, Korean Air, Supernal, Incheon International Airport, Eve, International Paris Air Locations: Singapore, SINGAPORE, Supernal, Las Vegas , Nevada, Asia, U.S, Brisbane, Australia, Japan, Asia —, South Korea, Korea, Incheon, South, Geoffroy Van Der Hasselt

☆ Airport collisions and close call solutions include sleep science and redesigned runways to help air traffic controllers
▼ + stars: | 2024-02-24 | by ( Pete Syme | ) www.businessinsider.com time to read: +7 min

The head of the FAA told Congress how its panel is examining sleep science to help. Despite the best efforts of pilots and air traffic controllers, sometimes collisions do happen. It said the captain was distracted and confused by instructions from air traffic controllers, while the co-pilot lost track of the plane's location. Air traffic control fatigueOne major cause of near-misses is the strained workload of air traffic controllers. "Air traffic controllers are being required to do mandatory overtime," she said.

Persons: —, Mike Whitaker, Whitaker, Rich Santa, Jennifer Homendy, Paul Rinaldi, Forbes, It's, Brad Surak Organizations: FAA, Service, New York Times, American Airlines, JFK, Delta Air Lines, JetBlue, Boston Logan International, Japan Airlines, Federal Aviation Administration, National Transportation Safety Board, National Air Traffic Controllers Association, Times, National Transportation Safety, Boeing Locations: Tokyo

☆ United Airlines is 'deeply disappointed' in Boeing over delays to new plane deliveries, as another major customer warns it needs to get its 'act together'
▼ + stars: | 2024-02-21 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. United Airlines is "deeply disappointed" in Boeing, its chief financial officer, Mike Leskinen, said during a Tuesday conference, Reuters reported. This story is available exclusively to Business Insider subscribers. "The [Boeing] management team in Seattle don't appear to have a grip on the situation at the moment," the Ryanair boss told Reuters. Boeing did not immediately respond to a request for comment from Business Insider, sent outside US working hours.

Persons: —, Mike Leskinen, Scott Kirby, Leskinen, Kirby, Max, Pete Syme, Michael O'Leary, O'Leary Organizations: Service, Boeing, United Airlines, Reuters, Business, CNBC, Citi, Airbus, Kirby, Ryanair, Federal Aviation Administration, Alaska Airlines, FAA Locations: Toulouse, France, Seattle

☆ Dubai is the economic jewel of the Middle East — now its Gulf neighbors are coming for a piece of the pie
▼ + stars: | 2024-02-03 | by ( Pete Syme | Beatrice Nolan | ) www.businessinsider.com time to read: +8 min

According to Forbes' 2023 Travel Guide, Dubai has nine 5-star hotels , compared to Abu Dhabi's three and two in Qatar and Saudi Arabia. Saudi Arabia has made it clear that it wants in on international travel, stating it aims to attract 100-150 million visitors by 2030. Saudi Arabia is catching up with a new airlineThe competition is perhaps the most heated in the aviation industry. On its double-decker Airbus A380, Dubai's airline, Emirates, has top amenities like a shower for business-class passengers, plus an on-board bar. AdvertisementAnd even if it succeeds in attracting tourists to Saudi Arabia, it is unlikely to knock Emirates off its perch.

Persons: —, Saudi Crown Prince Mohammed bin Salman Al Saud, Saudi Arabia hasn't, Abu, Abu Dhabi, Forbes, Abu Dhabi's, Faisal Alibrahim, Alibrahim, Mohammed Bin Salman, Kristian Coates Ulrichsen, Ulrichsen, Skytrax, Pete Syme, Tony Douglas, Douglas, That's, OAG Organizations: Service, United Arab Emirates, Business, Saudi Crown, Etihad, Bloomberg, CNN, Saudi, Economic, Rice, Baker Institute for Public Policy, Emirates, Qatar Airways, Qatari, Etihad Airways, Riyadh Air, Air, Riyadh Air's Boeing, Boeing, Dubai International Airport Locations: Dubai, Gulf, Saudi, Saudi Arabia, Riyadh, Abu, UAE, Qatar, Davos, Neom, Emirates, Still, Kingdom of Saudi Arabia, Europe, Americas, Africa, Asia

☆ 2 ex-Boeing staffers said they wouldn't fly on the 737 Max, citing pressure to 'rush the planes out the door'
▼ + stars: | 2024-01-31 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Two former Boeing employees told the LA Times they wouldn't recommend flying on a 737 Max. "I saw the pressure employees were under to rush the planes out the door," a former senior manager said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTwo former Boeing staffers told the Los Angeles Times they wouldn't fly on a 737 Max jet due to concerns over its safety. "I would absolutely not fly a Max airplane," Ed Pierson, a former senior manager at Boeing, told the Times.

Persons: —, Ed Pierson, I've, Max, Joe Jacobsen, Jacobsen, Pierson, it's Organizations: Boeing, LA Times, Service, Los Angeles Times, Times, Alaska Airlines, Street Journal, New York Times, Airbus, Paris Air, Federal Aviation Administration, Business

French farmers are putting pressure on the government to respond to their demands for better remuneration for their produce, less red tape and protection against cheap imports. French Interior Minister Gerald Darmanin held a security meeting Sunday before potential road blockades around Paris, his office said in a statement. Earlier Sunday, two climate activists hurled soup Sunday at the glass protecting the “Mona Lisa” and shouted slogans advocating for a sustainable food system. The Louvre employees could then be seen putting black panels in front of the Mona Lisa and asking visitors to evacuate the room. Angry French farmers have been using their tractors for days to set up road blockades and slow traffic across France.

Persons: Mona Lisa ”, Gerald Darmanin, Darmanin, Leonardo da, “, ”, Mona Lisa, Gabriel Attal, ” Attal Organizations: PARIS, Sunday, Louvre Museum, French, Farmers, Rural Coordination Locations: Paris, Garonne, ”, France, Indre

☆ United's CEO seemed to subtly threaten a move away from Boeing, saying the Max 9 grounding is 'the straw that broke the camel's back'
▼ + stars: | 2024-01-23 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

This story is available exclusively to Business Insider subscribers. The Boeing 737 Max 10 is the largest version of the narrowbody jet, but has been hampered by delays as it still awaits certification. AdvertisementKirby told CNBC he believes the best case for 737 Max 10 deliveries is still five years behind schedule. A Boeing 737 Max 10 at the 2023 Paris Air Show. "I have a lot of confidence in the people: great mechanics, great engineers, great history.

Persons: —, Scott Kirby, Kirby, Max, Pete Syme, McDonnell Douglas, we're, Stan Deal Organizations: Service, United Airlines, CNBC, Boeing, Business, Airbus, Airplanes, FAA Locations: European

☆ 5 reasons why Airbus went from struggling outsider to beating Boeing
▼ + stars: | 2024-01-20 | by ( Pete Syme | ) www.businessinsider.com time to read: +7 min

The A320's revolutionary fly-by-wire design and the Boeing 737 Max groundings help boost Airbus. In the 2014 documentary "Airbus vs Boeing: The Jumbo Jet Race" he said he was nearly fired for doing so. AdvertisementThe A320 went on to become the world's second-best-selling airliner, behind the Boeing 737. 737 Max groundingsSouthwest Airlines' grounded Boeing 737 Max jets in 2019. As Boeing and its 737 Max face more scrutiny following the Alaska Airlines blowout, Airbus seems likely to keep flying high.

Persons: Max groundings, —, Wright, Bernard Lathière's, Istvan Bajzat, Bernard Lathière, Lathière, Prince Charles, Princess Diana, Lionel Cironneau, Princess Diana —, Clinton, PAUL RICHARDS, Bill Clinton, ERIC CABANIS, Max —, Max, Mario Tama Organizations: Airbus, Boeing, Eastern Air Lines, Service, Getty, Lines, Washington Post, AP, Lionel Cironneau Airbus, Concorde, World Trade Organization, Union, Reuters, WTO, Getty Images Airbus, Show, Airlines, Max, Lion Air, Ethiopian Airlines, Paris Air, Alaska Airlines Locations: Europe, Toulouse, France, Boeing's, Germany, Spain, AFP, American

☆ Boeing's quality control process and company culture are being heavily scrutinized after the 737 Max Flight 1282 blowout
▼ + stars: | 2024-01-13 | by ( Pete Syme | ) www.businessinsider.com time to read: +9 min

Read previewAn Alaska Airlines Boeing 737 Max 9 had 177 people on board on January 5 when part of the fuselage was blown off. After the Federal Aviation Administration grounded all 737 Max 9 planes with door plugs, United Airlines and Alaska Airlines discovered loose hardware on several. Why the 737 Max was grounded in 2019Competition between Airbus and Boeing played a role in the twin 737 Max crashes that killed almost 350 people in 2018 and 2019. The Alaska Airlines blowout will likely renew scrutiny of Boeing's deal with the department, which demanded new compliance procedures. A Boeing 737 Max 10 at the Paris Air Show.

Persons: —, Max, It's, Michael O'Leary, Tim Clark, Dennis, Win McNamee, Bob Clifford, people's, could've, Clifford, David P, Burns, AeroSystems, McDonnell Douglas, MBAs, Harry Stonecipher, Stonecipher, PIERRE VERDY, Dave Calhoun, who's Organizations: Service, Alaska Airlines Boeing, Max, Portland International, Business, Federal Aviation Administration, United Airlines, Alaska Airlines, FAA, Boeing, National Transportation Safety, NTSB, Reuters, Airbus, Ryanair, Financial, Emirates, Bloomberg, New York Times, Lion Air, Ethiopian Airlines, Ethiopian, Pilots, MCAS, The Justice Department, McDonnell, Seattle Times, Paris Air, Getty, CNBC Locations: Kansas, Alaska

☆ U.N.-led talks weigh goal to reduce aviation emissions thorough less-polluting fuels
▼ + stars: | 2023-11-24 | by ( Allison Lampert | ) www.reuters.com time to read: +2 min

A TotalEnergies tanker truck with sustainable aviation fuel (SAF) is pictured during the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 19, 2023. ICAO's third Conference on Aviation and Alternative Fuels (CAAF) runs this week ahead of the COP28 U.N. climate summit in Dubai, which starts on Nov. 30. CAAF delegates from more than 100 countries are debating ways to boost supply of sustainable aviation fuel (SAF) made from materials like used cooking oil. SAF is key to lowering emissions from aviation, but remains costly and in short supply. Making access to financing more readily available to developing countries, another conference goal, is needed to bolster SAF production outside of the United States and Europe.

Persons: Benoit Tessier, Haldane Dodd, CAAF, Francis Mwangi, Mwangi, Allison Lampert, Jonathan Oatis Organizations: Paris, REUTERS, United Nations, International Civil Aviation Organization, Aviation, Alternative Fuels, SAF, Air Transport Action, Kenya's Civil Aviation Authority, Thomson Locations: Le Bourget, Paris, France, Dubai, United States, Europe, Mombasa, Kenya, Montreal

☆ FAA Clears Boeing 737 Max 10 Jet for Test Flights
▼ + stars: | 2023-11-22 | by ( Sharon Terlep | ) www.wsj.com time to read: 1 min

A Boeing 737-10 aircraft flying during the 54th International Paris Air Show near Paris, France, last June. Photo: Gao Jing/Zuma PressU.S. air-safety regulators cleared Boeing to begin key flight tests on its 737 MAX 10 jet, a milestone toward preparing the plane for commercial service. The airborne checks are a preliminary validation for Boeing by the Federal Aviation Administration and put the company on track for its first deliveries next year.

Persons: Gao Jing Organizations: Boeing, International Paris Air, Zuma Press U.S, Federal Aviation Administration Locations: Paris, France

☆ The biggest moments at the Dubai Airshow, as Boeing beats Airbus, Emirates criticizes Rolls Royce, and Israeli companies' stands lay empty
▼ + stars: | 2023-11-20 | by ( Pete Syme | ) www.businessinsider.com time to read: +5 min

Boeing beat Airbus in the orders tally after securing a $52 billion deal with Emirates on day one. The host nation's flag carrier made a $52 billion deal with Boeing on day one, before sparking tensions with Airbus and Rolls Royce. Boeing beats out Airbus in the orders battleBoeing got off to a hot start on Monday, announcing several deals. AdvertisementAs well as Emirates' order for 95 jets, the American manufacturer also called press conferences with SunExpress, flyDubai, Royal Jordanian, and Royal Air Maroc. As well as the smaller Emirates order, Airbus made deals with Ethopian Airlines, EgyptAir, and airBaltic.

Persons: —, Rolls Royce, Tim Clark, Royce Trent XWB, Yehia Zakaria, Christian Scherer, Pete Syme, Tony Douglas, @riyadhair, Peter Bellew, Rafael Organizations: Airbus, Royce, Boeing, Emirates, Service, Dubai Airshow, Rolls, Bloomberg, Reuters, Royal, Royal Air Maroc, Ethopian Airlines, Turkish Airlines, Anadolu Agency, Saudi, Riyadh Air, Boeing MAX, Paris Air, IAI, Dubai, Business, CNBC, Israel Defense Forces, United, United Nations Locations: Riyadh, Emirates, Royal Jordanian, Dubai, Israel, United Arab Emirates

☆ Boeing bonanza leaves rival Airbus in the dust at 2023 Dubai Airshow with three times more aircraft orders
▼ + stars: | 2023-11-16 | by ( Natasha Turak | ) www.cnbc.com time to read: +6 min

Aermacchi MB-339 trainer aircraft of the Fursan al-Emarat (UAE Knights) aerobatics team release smoke as they fly over with an Emirates Airbus A380-861 jetliner aircraft during the 2023 Dubai Airshow at Dubai World Central - Al-Maktoum International Airport in Dubai on November 13, 2023. A Boeing 777-X aircraft flies during the 2023 Dubai Airshow at Dubai World Central - Al-Maktoum International Airport in Dubai on November 13, 2023. Boeing orders 'exceeded investor expectations'Boeing's orders are already nearly three times as high as its total orders from the Dubai Airshow in 2021, and approaching the 356 orders in clinched at the 2023 Paris Airshow in June. Airbus's order figure of 86 aircraft is meanwhile significantly behind its 2023 Paris Airshow haul of 846 orders and 2021 Dubai Airshow total of 408. Prior to this week, the iconic American manufacturer hadn't enjoyed a winning performance at a Dubai Airshow since 2017.

Persons: Giuseppe Cacace, Giuseppe CACACE, GIUSEPPE CACACE, Cowen, SunExpress, EgyptAir, Tim Clark, Clark, Royce, hadn't Organizations: UAE Knights, Emirates Airbus, Maktoum International Airport, Afp, Getty Images, United Arab Emirates —, Boeing, Airbus, Royce, Emirates, Dubai, Getty, Ethiopian Airlines, Royal Jordanian, Royal Air Maroc, Air Baltic, Industry, Turkish Airlines, Turkish, Dubai Airshow, Max, RBC Capital Markets, RBC, Saudi Arabia's, Saudi Locations: Emarat, Dubai, Al, Maktoum, Getty Images DUBAI, United Arab, Emirates, East, West, Turkey, India, Saudi Arabia, AFP, widebodies, Istanbul, Paris, Riyadh Air

☆ Boeing shares take off on report that China may lift 737 freeze, bumper Dubai orders
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +2 min

Nov 13 (Reuters) - Shares of Boeing (BA.N) rose on Monday after a report said China was considering ending its freeze on purchases of the planemaker's best-selling 737 MAX aircraft after more than four years. This, coupled with bumper jet orders from Middle Eastern airlines at the Dubai Airshow, sent Boeing shares up 4%. China is considering resuming purchases of Boeing's 737 MAX aircraft when the U.S. and Chinese presidents meet this week at the APEC summit, Bloomberg News reported on Sunday, citing people familiar with the matter. Deliveries of Boeing's bestselling 737 MAX to Chinese airlines were halted following two deadly crashes. Boeing shares have underperformed S&P 500 in 2023Boeing shares were trading at $205.15, compared with analysts' current median price target of $250, according to LSEG data.

Persons: Thomas Hayes, Benoit Tessier, Hayes, Shivansh Tiwary, Ananya Mariam Rajesh, Shilpi Majumdar Organizations: Boeing, Dubai Airshow, APEC, Bloomberg, Paris, REUTERS, Emirates, Thomson Locations: China, Middle, U.S, Le Bourget, Paris, France, Dubai, Bengaluru

☆ Top Boeing exec says 2023 will be the 'year of widebody orders' with more deals to come
▼ + stars: | 2023-11-13 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

A Boeing 777x is displayed during the International Paris Air Show at the ParisLe Bourget Airport, on June 20, 2023. Boeing Commercial Airplanes CEO Stan Deal says 2023 has been a year of orders for widebody aircraft with the U.S. manufacturer expecting to announce more deals at this week's Dubai Airshow. His comments come after reports that Boeing and Emirates are close to agreeing a major order of 777 jets, adding to the Emirati flag carrier's existing order backlog of 155 777X aircraft from Boeing. "We've seen strong recovery in the narrow-body ordering in 2022 and now in 2023 it seems to be the year of widebody orders, and I suspect as you see this show unfold, you're going to see many more widebody orders for the industry," Deal, who is also the executive vice president of Boeing, told CNBC's Dan Murphy. Earlier this year, Saudi Arabian flag carrier Saudia and the newly-established Riyadh Air each logged orders for 39 of Boeing's 787 Dreamliner jets, and Deal believes demand from the Gulf will continue to grow rapidly.

Persons: Stan Deal, We've, CNBC's Dan Murphy Organizations: Boeing, International Paris Air, Boeing Commercial, Emirates, Riyadh Air, Deal Locations: ParisLe, U.S, Dubai, Saudi Arabian, Riyadh

☆ Emirates and flyDubai place Dubai Airshow jet orders
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

A Boeing 777-9, a variant of the 777X, performs a flying display at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 20, 2023. REUTERS/Benoit Tessier/File photo Acquire Licensing RightsDUBAI, Nov 13 (Reuters) - Dubai's Emirates placed an order for 90 more Boeing (BA.N) 777X jets at the opening of the Dubai Airshow on Monday, including both variants of the future long-haul jet. The world's largest international carrier also added five more Boeing 787s to an existing order, saying the total package of new widebody jets was worth over $50 billion at list prices. The 777X order includes 55 of the 400-seat 777-9 variant and 35 of the smaller 777-8, he told a news conference. Sister airline flyDubai also weighed in at the start of the biennial event with an order for 30 Boeing 787-9 in its first order for wide-body jets.

Persons: Benoit Tessier, Sheikh Ahmed bin Saeed Al Maktoum, flyDubai, Alexander Cornwell, Tim Hepher Organizations: Boeing, Paris, REUTERS, Rights, Dubai's Emirates, Emirates, Thomson Locations: Le Bourget, Paris, France, Rights DUBAI, Dubai

A Boeing logo is seen at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 18, 2023. REUTERS/Benoit Tessier Acquire Licensing RightsCompanies Boeing Co FollowLONDON, Nov 10 (Reuters) - Internal data from Boeing (BA.N), one of the world's largest defence and space contractors, was published online on Friday by Lockbit, a cybercrime gang which extorts its victims by stealing and releasing data unless a ransom is paid. According to a post on Lockbit's website, the data from Boeing was published in the early hours of Friday morning. “We are aware that, in connection with this incident, a criminal ransomware actor has released information it alleges to have taken from our systems," Boeing said. The company said it "remains confident" the event does not pose a threat to aircraft or flight safety, but declined to comment on whether defense or other sensitive data had been obtained by Lockbit.

Persons: Benoit Tessier, Lockbit, Lockbit ransomware, James Pearson, Tim Hepher, Valerie Insinna, Kirsten Donovan, David Evans, Emelia Organizations: Boeing, Paris, REUTERS, Rights, Reuters, Lockbit, Cybersecurity, Infrastructure Security Agency, Industrial, Commercial Bank of China's, U.S . Treasury, Thomson Locations: Le Bourget, Paris, France, United States, India, Brazil, U.S, Washington

Spirit plans to raise $200 million via the sale of Class A common stock as well as issue $200 million in convertible debt set to mature in 2028, the company said after the closing bell on Tuesday. Its shares fell to as low as $20.98 on Wednesday following the news and are now down more than 25% year-to-date. Spirit is a major supplier of large aircraft parts such as wings and fuselages for manufacturers including Boeing (BA.N) and Airbus (AIR.PA). Last week, Spirit projected higher-than-expected cash burn for 2023, forcing it to slash anticipated deliveries of 737 fuselages. Free cash burn will be between $275 million and $325 million for 2023, up from a previous range of between $200 million to $250 million.

Persons: Benoit Tessier, Spirit, Patrick Shanahan, Tom Gentile, Shanahan, Chibuike Oguh, Lance Tupper, Sharon Singleton Organizations: Boeing, International Paris Air, Le, REUTERS, Airbus, Thomson Locations: Le Bourget, Paris, France, U.S, New York

☆ Shares of Spirit Aero down 16% as company looks to raise cash
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsWASHINGTON, Nov 7 (Reuters) - Shares of Spirit AeroSystems (SPR.N) dropped 16% in extended trade after the company announced new measures meant to raise capital for the embattled aerospace supplier. The company announced a proposed public sale of $200 million of its Class A common stock. It also plans to issue $200 million in convertible debt set to mature in 2028. Chief Financial Officer Mark Suchinski said then that the company "continue(s) to evaluate all refinancing options to address debt," including $1.2 billion of debt set to mature in 2025, "as well as our overall liquidity." Reporting by Valerie Insinna; Editing by Chris Reese and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Benoit Tessier, planemaker, Patrick Shanahan, Mark Suchinski, Valerie Insinna, Chris Reese, Stephen Coates Organizations: Boeing, International Paris Air, Le, REUTERS, Rights, Airbus, Thomson Locations: Le Bourget, Paris, France

☆ I tested the game-changing F-35 stealth fighter, an incredible jet that demands more than just great flying skills from its pilots
▼ + stars: | 2023-11-04 | by ( Jake Epstein | ) www.businessinsider.com time to read: +8 min

Billie Flynn spent years as a pilot in the testing program for the F-35 stealth fighter jet. I was involved with the F-35 program for essentially 20 years after coming over to Lockheed Martin from the Eurofighter Typhoon program. AdvertisementAdvertisementA Lockheed Martin F-35 fighter jet performs its flight display at Le Bourget on June 20, 2017 during the International Paris Air Show. So there really are pilots who are better than others, but as a test pilot, that flying skill is what keeps us alive. And I think that's thanks to incredible engineers, incredible designers and incredible military fighter pilots who were instrumental in developing the airplane.

Persons: Billie Flynn, —, Lockheed Martin, It's, CHRISTOPHE ARCHAMBAULT, Yuriko Nakao Organizations: Service, Royal Canadian Air Force, Lockheed, Eurofighter, International Paris Air, Getty, Le, Paris Air Locations: Le Bourget, AFP, Paris, France

A Boeing logo is seen at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 18, 2023. The Lockbit threat was no longer on the gang's website as of Wednesday, and it didn't immediately respond to a request for comment. Boeing declined to comment on whether Lockbit was behind the cyber incident it disclosed. It's unclear what data Lockbit may have stolen from the company. "Paying the ransom would simply elicit a pinky promise from LockBit that they will destroy whatever data they obtained," Callow said.

Persons: Benoit Tessier, didn't, Lockbit, Brett Callow, Emsisoft, Callow, Valerie Insinna, Chris Reese, Lisa Shumaker, Jamie Freed Organizations: Boeing, Paris, REUTERS, Rights, Cybersecurity, Infrastructure Security Agency, Global Services, Services, Thomson Locations: Le Bourget, Paris, France

☆ Boeing trims annual 737 delivery target due to supplier errors
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +3 min

[1/2] A Boeing 737 MAX-10 performs a flying display at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 20, 2023. Despite falling short on projected 737 deliveries, Boeing stuck to its goal of generating $3 billion to $5 billion in free cash flow this year. The company also intends to keep its 737 production ramp up plan intact. The company reported a wider than expected loss of $3.26 per share, compared with average analysts' expectation of $2.96 per share, according to LSEG data. The company reported $18.1 billion in revenue, slightly beating consensus estimates of $18.0 billion.

Persons: Benoit Tessier, we've, Dave Calhoun, Planemakers, Abhijith, Valerie Insinna, Arun Koyyur Organizations: Boeing, Paris, REUTERS, Air Force, Thomson Locations: Le Bourget, Paris, France, Bengaluru, Washington

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

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