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CNN —A preliminary report from Chile’s aviation authority on the LATAM Airlines plane that plunged mid-air on March 11 says that the captain’s seat experienced an “involuntary movement forward” midflight. LATAM Flight 800 was flying from Australia to New Zealand when the Boeing 787 Dreamliner descended 400 feet, and the cause of the sudden plunge is yet to be determined, according to the report. The black box will be handed over to the National Transportation Safety Board (NTSB), and the captain’s seat will be inspected by the FAA and Boeing, the report said. Days after the incident, Boeing sent an advisory to airlines that operate the Boeing 787 Dreamliner recommending they inspect cockpit seat switches on the planes. It has sent a similar notice to airlines in 2017.
Persons: CNN — Organizations: CNN, LATAM Airlines, Boeing, ” Authorities, National Transportation Safety Board, FAA Locations: Australia, New Zealand, Chile, United States
Others, however, said they are still confident in flight safety, pointing out that commercial air travel remains one of the safest modes of transportation. Cara and Erin Ashcraft survived the crash of American Airlines Flight 1420, operated on a McDonnell Douglas MD-82, during a landing at Little Rock National Airport on June 1, 1999. “I’ve never had concerns (about air travel safety) before. This is the hole left behind when the plug door of an Alaska Airlines flight blew off midflight on January 5, 2024. Pierson is wary of attitudes around the apparent safety of American air travel, he said.
Persons: Barb Handley, , ” Handley, Handley, , , Mary Handley, Alice, Barb Handley Miller, Pat Gabrielse, Dan Handley, Beth Handley McMall, Kathleen Handley Salemi, Cara, Erin Ashcraft, , I’m, ” Cara, ” Cara Ashcraft, , McDonnell Douglas, Andy Scott, “ I’m, ” Erin Ashcraft, ” ‘ I’ve, Trey Smith, “ I’ve, ” Smith, Smith, Scott Kirby, United, Boeing Aubrey, Max, Aubrey, they’re, ” Anthony Brickhouse, Florida’s Embry, Brickhouse, Ed Pierson, Pierson, That’s, ” CNN’s Chris Isidore, Jacopo Prisco Organizations: CNN, Alaska Airlines, United Airlines Boeing, Boeing, , National Transportation, NTSB, Federal Aviation Administration, United Airlines, American Airlines, McDonnell, Little Rock National Airport, Dallas Morning News, International Air Transport, United, Reuters United, Airbus, “ Airlines, Delta Air Lines, Hawaiian Airlines, Florida’s, Riddle Aeronautical University, Alaska Airlines Max, US Federal Aviation Administration, National Transportation Safety Board, Foundation for Aviation Safety, Air Canada, San Francisco International Airport Locations: Alaska, Little Rock , Arkansas, United States, Virginia, Los Angeles, East, Southwest
“There’s no strong infrastructure for safety in maritime," said Jim Hall, who led the National Transportation Safety Board from 1994 to 2001. The Dali was flagged in Singapore, which has one of the best safety records of any country where ships are based. It's not listed as one of the 42 countries identified as “flags of convenience” by the International Transport Workers Federation. He said that with maritime shipping being the oldest transportation industry, with its international regulations that rely on many different countries for enforcement, it may have the most problems. “When I talk about those other transportation industries, the maritime industry is the worst offender of safety violations, of labor violations than any other industry,” Rexha said.
Persons: , Jim Hall, Peter DeFazio of, , ” DeFazio, it's, Dali —, Peter Gautier, Dali, It's, Grace Ocean, Douglas Hales, ” Hales, Roland Rexha, midflight, ” Rexha, Michael Kunzelman, Seung Min Kim Organizations: International Maritime Organization, National Transportation, Guard, Former U.S . Rep, Transportation, U.S . Coast Guard, International Chamber of Shipping coalition, Allianz Global, International Transport Workers Federation . Authorities, Synergy Marine, University of Rhode, Port, Marine Engineers, Boeing, Max, Associated Press Locations: Baltimore, London, Former, Peter DeFazio of Oregon, West, New York, United States, U.S, Singapore, Chile, Belgium, Antwerp, Callao, Western Callao, Port of Baltimore, Ohio
The American plane maker has been under intense pressure since early January, when a panel blew off a brand-new Alaska Airlines 737 Max midflight. Photos You Should See View All 60 ImagesTHE CRASHESThe bulk of criticism and investigations swirling around Boeing today center on the company's Max jets. Boeing agreed to pay $2.5 billion to settle a Justice Department investigation, admitting that employees misled regulators about the safety of the 737 Max. Last year, Boeing reported a problem with fittings on Max jets where the fuselage meets the vertical section of the tail. Also under investigation is what prompted the emergency landing in Wichita, Kansas, of a Denver-bound United Airlines flight in December.
Persons: Max midflight, That's, Max, shakeups, David Calhoun, Calhoun, , Organizations: Boeing, Alaska Airlines, Delta Air Lines, United Airlines, Airbus, Indonesia’s, Ethiopian Airlines, Department, MORE, FBI, FAA, Spirit, United Airlines Boeing, Max, Passengers, National Transportation Safety, American Airlines, Southwest Airlines, NTSB Locations: Arlington , Virginia, Addis Ababa, Oregon, Wichita , Kansas, Newark , New Jersey, Denver, San Francisco, Los Angeles,
“Due to recent safety events, the FAA is increasing oversight of United Airlines to ensure that it is complying with safety regulations; identifying hazards and mitigating risk; and effectively managing safety,” an FAA spokesperson said in a statement. The civil aviation authority’s stepped up oversight comes after a United Boeing 737-800 landed in Medford, Oregon, missing an external panel on March 15. In just the last month, another United Boeing plane spewed flames from an engine after taking off, one slid off the runway, one lost a wheel during takeoff and another trailed hydraulic fluid. The FAA did not specify what future projects may be delayed by its evaluation, but on Saturday, Bloomberg reported the agency is considering preventing United Airlines from adding new routes, curbing the airline’s growth. Last week, a LATAM Airlines Boeing plane flying from Sydney, Australia, to Auckland, New Zealand, suddenly plunged in midair, injuring some passengers as they were thrown to the cabin’s ceiling.
Persons: authority’s, ” United, , CNN’s Gregory Wallace, Chris Isidore, Pete Muntean Organizations: CNN, Federal Aviation Administration, United Airlines, FAA, United Boeing, Boeing, Bloomberg, United, , Alaska Airlines Boeing, Max, LATAM Airlines Boeing Locations: Medford , Oregon, United, Sydney, Australia, Auckland , New Zealand
A United Airlines plane that departed Friday from San Francisco International Airport was missing an external panel when it landed at its destination in Medford, Oregon. United released the following statement:"This afternoon, United flight 433 landed safely at its scheduled destination at Rogue Valley International/Medford Airport. The incident involving United Airlines flight 433 is the latest in a string of recent mechanical problems on United airplanes. 7, a Japan-bound United flight out of SFO was diverted to Los Angeles after a wheel fell off during takeoff. 8, a United flight to Mexico City from SFO was diverted to LAX because of a hydraulics issue.
Persons: We'll, United Organizations: United Airlines, San Francisco International, Rogue, Medford Airport, Boeing, Fort Worth International, United Airbus, SFO, Mar, LAX, San Locations: Medford , Oregon, United, Medford, Dallas, Japan, Los Angeles, Mar, Houston, Mexico City, Sydney, Australia, San Francisco
Retail traders bought billions of dollars worth of cash equities over the past week on net, according to data compiled by JPMorgan's Peng Cheng. With those gains, he said traders bought into Apple and Alphabet , which have both largely sat out of the broader market rally this year. By comparison, investors bought more than half a billion dollars of Alphabet when accounting for outflows. Neither tech stock made the list of top 25 securities by retail net inflows in the previous week. Outside of big tech, Cheng noted that retail investors snapped up shares of beat-down Boeing , which is facing a crisis surrounding its 737 Max 9s after a door panel blew out midflight.
Persons: JPMorgan's Peng Cheng, Cheng, SPX, Max, LSEG Organizations: Retail, Nvidia, Meta, Apple, Trust, outflows, Boeing, Dow Jones, Broadcom, Costco Locations: Japan
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Despite high inflation, the BOJ hasn't really shifted from its ultra-loose monetary policy that has been in place in 2016. Rate cut pivot in 2024Central banks worldwide could make a rate cut pivot in 2024. Boeing crisis hurt airlinesCEOs from several airlines say Boeing's delivery delays have forced the carriers to change their growth plans.
Persons: Thomas Calomiris Organizations: Washington , DC, CNBC, Japan's Nikkei, Dow, Nasdaq, Bank of Japan, Economist Intelligence, Boeing, Alaska Airlines Max, Southwest Airlines, Alaska Airlines, United Locations: Washington ,, Asia, BOJ, Central, Beijing
CNBC Daily Open: Sticky inflation muddies water for Fed
  + stars: | 2024-03-13 | by ( Sumathi Bala | ) www.cnbc.com   time to read: +2 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nearly half of the world's total dividend growth came from the banking sector, which delivered record payouts as rising borrowing costs lifted lenders' margins, the report found. Boeing crisis hurt airlinesCEOs from several airlines say Boeing's delivery delays have forced the carriers to change their growth plans. Citadel on rate cutsInflation headwinds remain and the Fed shouldn't cut rates too quickly, says Citadel founder and CEO Ken Griffin.
Persons: Dow, Janus Henderson, Ken Griffin Organizations: CNBC, Nasdaq, Boeing, Alaska Airlines Max, Southwest Airlines, Alaska Airlines, United, Citadel Locations: British
The Justice Department is reviewing whether an early January incident in which a part of a Boeing plane blew out in midflight violated a 2021 agreement to settle a criminal charge against the company, according to a person familiar with the review. Boeing agreed to pay more than $2.5 billion to settle the charge, which stemmed from two fatal crashes of its 737 Max 8 planes. The Justice Department agreed to drop a criminal charge that was based on the actions of two employees who had withheld information from the F.A.A. There were no serious injuries, but the incident could have been catastrophic had it occurred minutes later, at a higher altitude. The panel is known as a “door plug,” which is used to cover a gap left by an unneeded exit door.
Persons: Trump Organizations: Boeing, Justice Department Locations: midflight, Portland ,
Miniature models of Boeing commercial airplanes displayed at the Singapore Airshow in Singapore on February 20, 2024. SINGAPORE — Boeing touted its 737 Max aircraft as "the safest airplane" and said China's latest domestic jetliner Comac C919 is similar to offerings by Airbus and Boeing that are already in the market. However, he insisted it was "the safest airplane that can be out there today." A midflight blowout of a fuselage panel on one of Boeing's 737 Max 9 operated by Alaska Airlines earlier this year raised concerns about safety after loose bolts were found during preliminary inspections. On Wednesday, Boeing announced it will be replacing the head of its 737 Max program.
Persons: Dave Schulte, , Schulte, Max Organizations: Boeing, Singapore, SINGAPORE — Boeing, Airbus, Max, Alaska Airlines, Wednesday, U.S . Air Force Locations: Singapore, SINGAPORE, Asia, Pacific
An aerial photo shows Boeing 737 MAX airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, U.S. March 21, 2019. SINGAPORE — Boeing will not be bringing any commercial planes to the Singapore Airshow, shifting the spotlight for passenger jets to rival Airbus as well as China's homegrown offering. While there will be aerial displays of commercial liners by Airbus and China's domestic jetliner Comac C919, Boeing will not have any commercial aircraft at the air show. While no commercial jets will be featured, Boeing will still be holding a cabin display of its wide-body 777X passenger plane, which the company claims is the world's largest twin-engine jet. This is the first major international aerospace event since the blowout last month, which pushed Boeing into another safety crisis after the U.S. safety regulators ordered the temporary grounding of more than 170 Boeing 737 Max 9 planes.
Persons: Max, Lockheed Martin, Thales, scuffling Organizations: Boeing, Boeing Factory, SINGAPORE — Boeing, Singapore, Airbus, U.S . Air Force, Lockheed, Dassault, SAAB, Leonardo, Max, Alaska Airlines Locations: Renton , Washington , U.S, SINGAPORE, Portland , Oregon
CNBC Daily Open: Is progress on inflation stalling?
  + stars: | 2024-02-19 | by ( Sumathi Bala | ) www.cnbc.com   time to read: +2 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. China stocks riseAsia markets were mixed Monday as Chinese stocks climbed on the back of positive travel data, while Hong Kong stocks dropped. The CSI 300 gained as trading resumed after the Lunar New Year holidays and the Hang Seng index fell. [PRO] Bullish on equitiesMorgan Stanley has a positive outlook on equity markets despite some concerns over valuations.
Persons: Max, Morgan Stanley, Andrew Slimmon Organizations: CNBC, CSI, Dow, Nasdaq, U.S . Federal, Korean, Boeing, Airbus, Sony, PlayStation Locations: China, Asia, Hong Kong, U.S, Singapore
Japan Takes Another Shot at Next-Generation H3 Rocket Launch
  + stars: | 2024-02-14 | by ( Feb. | At P.M. | ) www.usnews.com   time to read: +5 min
The Japan Aerospace Exploration Agency (JAXA) plans to launch its second H3 on Saturday from its Tanegashima Space Center in southern Japan. The setbacks of the H3 and another small rocket, Epsilon, have caused widespread delays in Japanese satellite launches. Saturday's H3 launch carries a dumbbell-shaped 2.6-ton dummy mass simulating a satellite payload. Launch operator Mitsubishi Heavy hopes to launch six H3s a year once stable production is established. Another objective is to win orders from global clients, as satellite launch demands have skyrocketed thanks to affordable commercial vehicles such as SpaceX's reusable Falcon 9.
Persons: Kazuto Suzuki, Masayuki Eguchi, Lockheed Martin, Masashi Okada, Okada, Ko Ogasawara, Ogasawara, Kairos, Kantaro Komiya, Gerry Doyle Organizations: SLIM, University of Tokyo, Japan Aerospace Exploration Agency, JAXA, Mitsubishi Heavy Industries, Mitsubishi, Epsilon, Canon Electronics, U.S, European Space Agency, United Launch Alliance Vulcan, Boeing, Lockheed, Tokyo University of Science, Technologies Locations: TOKYO, Japan, United States, India, Tokyo
An aerial photo shows Boeing 737 MAX airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, U.S. March 21, 2019. The company handed over 27 planes last month, its lowest tally since September, compared with 67 deliveries in December. It sold three Boeing 737 Max planes, but also logged three cancellations. The three gross orders come after a big December when Boeing sold 371 planes. Boeing's January deliveries included three Max planes to Chinese customers, the first in about four years.
Persons: Max, Dave Calhoun, Calhoun, Mike Whitaker, Whitaker Organizations: Boeing, Boeing Factory, Airbus, Alaska Airlines, National Transportation Safety, Federal Aviation Administration, FAA, CNBC Locations: Renton , Washington , U.S, Portland , Oregon, Renton , Washington, Renton
Airfare fell 6.4% in January from a year earlier, the Labor Department said in its monthly consumer price index report on Tuesday. January is typically a slower month for travel as customers take fewer trips following the New Year's holiday. The drop comes even though carriers are facing capacity constraints this year, in part because of an engine recall from Pratt & Whitney , congested airspace and delayed aircraft deliveries. In 2023, airlines had been forced to discount flights, particularly in off-peak periods, after the industry added capacity. ...Those operating environment challenges led directly to industry capacity plans, including our own, coming down 3 points on average as carriers adapted to the new operating environment," Kirby said.
Persons: Airfare, TD Cowen, Helane Becker, Hopper, Ed Bastian, haven't, Bastian, Max, Scott Kirby, Kirby Organizations: Labor Department, Pratt & Whitney, Airlines, Delta, Boeing, Max, Federal Aviation Administration, Company, United Airlines, International Air Transport Association, CNBC PRO Locations: Southwest, Alaska, United
Bolts that helped secure a panel to the frame of a Boeing 737 Max 9 were missing before the panel blew off the Alaska Airlines plane last month, according to accident investigators. The report included a photo from Boeing, which worked on the panel, which is called a door plug. In the photo, three of the four bolts that prevent the panel from moving upward are missing. The investigators said that the lack of certain damage around the panel indicates that all four bolts were missing before the plane took off from Portland, Oregon. A text between Boeing employees who finished working on the plane after the rivets were replaced included the photo showing the plug with missing bolts, according to the report.
Persons: David Calhoun, ” Investigators, Max, Michael Whitaker, , “ what’s Organizations: Boeing, Max, Alaska Airlines, National Transportation Safety, Pilots, NTSB, , Alaska, United Airlines, Federal Aviation Administration, FAA, Spirit Locations: Portland , Oregon, Boeing’s, Seattle, Alaska
The panel that blew out is used to plug an unused emergency exit. Bolts appeared to have been missing from a door plug that blew out midair on Boeing 737 Max 9 operated by Alaska Airlines last month, according to a new report from the National Transportation Safety Board. The accident prompted a grounding of the Max 9 by the Federal Aviation Administration for much of last month. "Over these last few weeks, I've had tough conversations with our customers, with our regulators, congressional leaders and more. The Jan. 5 accident occurred just as Boeing was trying to ramp up output.
Persons: John Lovell, Bolts, Dave Calhoun, Calhoun, I've Organizations: National Transportation Safety Board, Alaska Airlines, NTSB, Boeing, Max, Federal Aviation Administration, FAA Locations: Alaska, Portland , Oregon, U.S
We raised our Club price target on Microsoft to $450 per share from $400 following Tuesday's after-the-bell earnings. We increased our Club price target on Alphabet to $160 per share from $140. However, we lowered our Club price target to $115 per share from $125 to reflect the challenges ahead. The slide in Alphabet increased our Club price target on Alphabet to $160 per share from $140. Dow stock Walmart 3-for-1 stock split as shares stand a couple of dollars below all-time high of nearly $170 each.
Persons: what's, Jerome Powell, I've, Max, Tesla, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Dow, Federal Reserve, ADP, Microsoft, Google, Starbucks, Devices, Club, Nvidia, AMD, Boeing, Walmart, Elon Musk's, Twitter, Jim Cramer's Charitable, CNBC, Micro, Tesla
American Airlines posts narrow fourth-quarter profit
  + stars: | 2024-01-25 | by ( Laya Neelakandan | ) 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. American Airlines on Thursday posted a $19 million profit for the last three months of 2023, topping Wall Street estimates on the top and bottom lines. 29 cents adjusted vs. 10 cents per share expected. For the last three months of 2023, American Airlines reported net income of $19 million, down from $803 million the year prior. "The American Airlines team produced an exceptionally strong performance in 2023," CEO Robert Isom said in a statement Thursday.
Persons: Robert Isom Organizations: Boeing, American Airlines, LSEG, Revenue, United Airlines, Max, Federal Aviation Administration, Alaska Airlines Locations: Barcelona, Southwest, Alaska
Southwest also said Thursday that it expects to receive fewer new planes than it expected this year because of ongoing production problems at Boeing. American said Thursday that it earned $19 million in the fourth quarter, down from $803 million a year earlier. Analysts expected American Airlines Group Inc. to earn 11 cents per share, according to a FactSet survey. Wall Street expected Southwest Airlines Co. to earn 12 cents per share. Earlier this week, United said it expects to lose money in the first quarter because of the grounding.
Persons: Max, United Organizations: DALLAS, American Airlines, Southwest Airlines, Southwest, Boeing, American Airlines Group Inc, Revenue, Southwest Airlines Co, Dallas, Max, Federal Aviation Administration, United Locations: Fort Worth , Texas, Southwest, Alaska
Southwest Airlines has taken the Boeing 737 Max 7 out of its fleet plans as regulators haven't yet certified the smallest model of the manufacturer's best-selling plane. Southwest became the latest of the major airlines this week to rethink its fleet plans because of certification delays at Boeing. Earlier this week, United Airlines said it was removing the the 737 Max 10, the largest model of the Max family, from its internal fleet plans after delays with certification. Scrutiny on Boeing has mounted in recent weeks after a door panel blew out midflight from a 737 Max 9 that was operated by Alaska Airlines on Jan. 5, prompting the FAA to ground that model. FAA Administrator Mike Whitaker told CNBC earlier this week that even before the Alaska Airlines incident, the agency had concluded it needed a more "hands-on approach" with the certification of the Max 7 and Max 10 aircraft.
Persons: Max, Mike Whitaker, Whitaker Organizations: Southwest Airlines, Boeing, Max, United Airlines, Alaska Airlines, FAA, CNBC Locations: Alaska
Read previewAlaska Airlines said Thursday that the grounding of its Boeing 737 Max 9 jetliners will reduce full-year profit by $150 million and slow down the airline's planned growth. Separately on Thursday, Southwest Airlines said that it will receive six fewer new planes than it expected this year because of ongoing production problems at Boeing. American Airlines CEO Robert Isom chimed in on Thursday, calling Boeing's safety issues "unacceptable." AdvertisementAnalysts expected American Airlines Group Inc. to earn 11 cents per share, according to a FactSet survey. Alaska's $2 million loss compared with a $22 million profit a year earlier.
Persons: , Max, Robert Isom chimed Organizations: Service, Alaska Airlines, Boeing, Max, Business, United Airlines —, Southwest Airlines, Southwest, American, American Airlines Group Inc, Revenue, Southwest Airlines Co, Dallas, Alaska Air Group Inc Locations: Alaska, Oregon, Seattle, United, Fort Worth , Texas
The official, Mike Whitaker, said the FAA would not agree to any Boeing request to expand production of Max planes until the agency is satisfied that quality-control concerns have been addressed. The move came on the same day that a key senator indicated that Congress will join the scrutiny of Boeing. The National Transportation Safety Board is investigating the accident on an Alaska Airlines Max 9. Investigators are building a timeline of the door plug that failed, from the early stages of its production to the flight on which it blew off the plane. The Federal Aviation Administration is looking into whether Boeing and its suppliers followed proper safety procedures during manufacturing.
Persons: Mike Whitaker, Max, Sen, Maria Cantwell, David Calhoun, jetliner, Cantwell, Calhoun, Organizations: WASHINGTON, , Boeing, Max, Federal Aviation Administration, Alaska Airlines Boeing, FAA, Senate Commerce, Science, Transportation Committee, National Transportation Safety, Alaska Airlines Max, NTSB Locations: Oregon, Portland , Oregon, Renton , Washington
The United Airlines CEO says he is “disappointed” in ongoing manufacturing problems at Boeing that have led to the grounding of dozens of United jetliners, and the airline will consider alternatives to buying a future, larger version of the Boeing 737 Max. United Airlines CEO Scott Kirby said Tuesday that Boeing needs “real action” to restore its previous reputation for quality. United has a standing order for Max 10 jets, a larger version of the Max line. The grounding of the Max 9 jets is likely to further complicate Boeing's drive to get the new models approved. Doing without the Max 10 probably means United won't grow as fast as it had hoped, Kirby added.
Persons: , Scott Kirby, Kirby, Max, United, “ We're, ” Kirby Organizations: United Airlines, Boeing, Max, Alaska Airlines Max, CNBC, Federal Aviation Administration, Airbus Locations: midflight
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