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An emergency exit slide came off a Delta Air Lines Boeing 767 on Friday. A lawyer, whose firm is suing Boeing over the Alaska blowout, spotted it outside his home two days later. AdvertisementAn emergency slide that came off a Delta Boeing 767 was found by a lawyer whose firm is suing Boeing, the New York Post reported. The wild coincidence happened on Sunday, two days after the slide fell off the Boeing 767 operated by Delta Air Lines. However, it should be noted that since the Delta Boeing 767 was built in 1990, the incident points to a maintenance issue rather than the planemaker's fault.
Persons: hasn't, , Jake Bissell, Linsk, Bissell, Labaton Keller Sucharow, ince Organizations: Delta Air Lines Boeing, Boeing, Alaska, New York Post, Service, Delta Boeing, Delta Air Lines, New York's JFK Airport, Delta, ust Locations: New, Los Angeles, Queens
Boeing taps debt market to raise $10 billion: Reuters
  + stars: | 2024-04-29 | by ( ) www.cnbc.com   time to read: +2 min
The Boeing logo is displayed on a Boeing building on January 8, 2024 in El Segundo, California. Boeing on Monday tapped debt markets to raise $10 billion, after the U.S. planemaker burned $3.93 billion in free cash during the first quarter following slowing production of its best-selling jet, sources familiar with the matter said. Moody's said the rating reflects Boeing's still-strong business profile, which continues to mitigate ongoing weak performance in commercial aircraft, although headwinds surrounding the division could persist through 2026. Boeing will use the bond proceeds to increase its liquidity ahead of maturities on its existing debt load, including $4.3 billion in 2025, S&P wrote on Monday. The deal's bookrunners leading the bond sale include Bank of America , Citi, JPMorgan and Wells Fargo , according to the deal's term sheet.
Persons: Moody's, bookrunners, Wells, Brian West Organizations: Boeing, U.S, Bank of America, Citi, JPMorgan Locations: El Segundo , California, maturities, Wells Fargo
An Airbus' employee works on an aircraft part of the Airbus A350 at the Airbus Atlantic plant in Bouguenais, near Nantes, western France, on February 29, 2024. Airbus is ramping up production of its A350 aircraft because of consumer demand and not the ongoing crisis at U.S. rival Boeing, according to the French planemaker's chief financial officer. Toulouse-based Airbus on Thursday announced plans to increase its production rate for the long-range aircraft to 12 units per month in 2028. Airbus reported gross commercial aircraft orders of 170 in the quarter, almost half of which were variants of the A350. Airbus is ramping up production of its A350 aircraft because of consumer demand and not the ongoing crisis at U.S. rival Boeing, according to the French planemaker's chief financial officer.
Persons: Thomas Toepfer, CNBC's Charlotte Reed, Toepfer Organizations: Airbus, Boeing Locations: Bouguenais, Nantes, France, U.S, Toulouse
Airbus misses on operating profit, raises A350 output goal
  + stars: | 2024-04-25 | by ( ) www.cnbc.com   time to read: 1 min
An Airbus A350-941 is undergoing a test flight at Toulouse Blagnac Airport in Toulouse, France, on December 8, 2023. Airbus posted weaker than expected first-quarter operating profit and cashflow after hiring more staff to prepare for rising aircraft demand, but reaffirmed its financial goals for 2024 after a nervous start to the year on industrial costs. The world's largest planemaker also announced a higher output target for its wide-body A350 model, of 12 a month in 2028, amid a renaissance in demand for long-haul jets. Airbus reported 577 million euros in adjusted operating profit, down 25% on the year, revenue of 12.83 billion and a free cash outflow of 1.8 billion euros. Analysts were on average expecting operating profit of 789 million euros and an outflow of 1.3 billion euros, according to a company-compiled survey.
Organizations: Airbus, Toulouse Blagnac Airport Locations: Toulouse, France
The airports losing Southwest service are:AdvertisementSyracuse Hancock International Airport in New York. Bellingham International Airport in Washington. Southwest also said it would "significantly restructure other markets," including putting capacity reductions at Hartsfield-Jackson Atlanta International Airport and Chicago O'Hare International Airport. Related stories"To improve our financial performance, we have intensified our network-optimization efforts to address underperforming markets," Southwest CEO Bob Jordan said in the earnings report, noting the impact could go into 2025. The backlash has prompted Boeing CEO Dave Calhoun to announce his resignation from the company, effective at the end of the year.
Persons: , George Bush, Boeing's Max, Max, Bob Jordan, Jordan, Dave Calhoun, Boeing's, Larry Kellner, Stan Deal, Stephanie Pope, Sam Salehpour Organizations: Service, Boeing, Max, Southwest Airlines, Business, Southwest, Syracuse Hancock International, Bellingham International Airport, Cozumel International, George Bush Intercontinental Airport, Alaska Airlines, Hartsfield, Jackson Atlanta International Airport, Chicago O'Hare International, Ryanair, United Airlines, Boeing Commercial Locations: New York, Bellingham, Washington, Cozumel, Mexico, Houston, Southwest, Alaska
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 ,
Whistleblower Sam Salehpour's concerns about the Boeing 787 and 777 were first made public last week. Salehpour, a quality engineer, told NBC on Tuesday he believes all 787 Dreamliners should be grounded. AdvertisementA Boeing whistleblower told NBC he believes all 787 Dreamliners should be grounded in an interview that aired Tuesday. It was Sam Salehpour's first on-camera interview since his allegations were made public last week. He says that parts of the Boeing 787 and 777 were misaligned during production, posing safety threats.
Persons: Sam Salehpour's, wouldn't, , Sam Salehpour Organizations: Boeing, NBC, Service, Business
Boeing's corporate planes collectively flew about 4,500 hours across some 1,800 flights last year, according to data from the aviation-tracking website JetSpy. Jet Edge InternationalThe fleet's top airports include Chicago International Airport, Washington Dulles International Airport, and Boeing Field King County International Airport — all located near Boeing's corporate offices and factories. AdvertisementThe locations of Boeing's corporate fleet on April 12, according to JetSpy data. For instance, JetSpy data shows aerospace company Lockheed Martin collectively flew its five private jets for about 2,700 hours in 2023. AdvertisementBoeing wrote in the filing that its CEO "is required to use company aircraft for all business and personal travel for security reasons."
Persons: , Dave Calhoun, Calhoun, Brian West, Lockheed Martin, Taylor Swift, Elon Musk, Max, messier Organizations: Service, Business, Boeing Business Jets, Canadian, Bombardier, Challenger, Jet Edge, Chicago International Airport, Washington, International Airport, Boeing Field King County International, Airport, Lebanon Municipal Airport, Wall Street Journal, Boeing, Lockheed, PepsiCo, Costco, Alaska Airlines, Calhoun . Locations: Westchester, New York, Lebanon, New Hampshire, South Carolina, New Canaan , Connecticut, American
The NTSB is investigating how a door plug came off an Alaska Airlines Boeing 737 Max 9. Its chair said it could survey every Boeing employee about its safety culture. AdvertisementThe head of the National Transportation Safety Board said it is considering surveying every Boeing employee about its safety culture. Related storiesAll of the firm's 20,000 staff were surveyed about its safety culture, Homendy said. "With respect to documentation, if the door plug removal was undocumented there would be no documentation to share," the planemaker said in a statement.
Persons: , Jennifer Homendy, Dave Calhoun, Homendy, Maria Cantwell, They're Organizations: NTSB, Alaska Airlines Boeing, Boeing, Norfolk Southern, Service, National Transportation Safety Board, Commerce, Science, Transportation Locations: Ohio
A whistleblower has come forward with allegations about the safety of at least 1,400 Boeing planes. He said production shortcuts have led to misaligned fuselages on Boeing 777 and Boeing 787 jets. AdvertisementAnother Boeing whistleblower has come forward with concerns over one of the planemaker's family of passenger jetliners, pointing to safety concerns in at least 1,400 widebody airplanes. He noted his concerns about the 787 and 777 airplanes were backed by Boeing data but that his complaints were ignored. "This analysis has validated that these issues do not present any safety concerns, and the aircraft will maintain its service life over several decades."
Persons: misaligned, , Sam Salehpour, Salehpour, Max, I'm Organizations: Boeing, Service, New York Times, FAA, BI, Times, Alaska Airlines
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 ,
Politicians and auto executives on both sides of the Atlantic are calling for more protectionist measures. After Tesla lost its crown to BYD as the world’s biggest E.V. Otherwise, the Tesla C.E.O. said, Chinese E.V. The continent’s auto sector employs 13 million people and generates 8 percent of the bloc’s G.D.P.
Persons: China Tesla, , Warren Buffett, Tesla, Elon Musk, ” Luca de Meo, Vivienne Walt, DealBook, , June’s E.U Organizations: Renault Group’s, Airbus Locations: China, Europe, June’s
Radia, a Colorado-based startup, wants to build the world's largest cargo plane. Billed the WindRunner, the plane's sole purpose is to carry oversized wind turbine blades. Its sole purpose: to deliver giant wind turbine blades. A rendering visualizes one of the obstacles of transporting a large wind turbine blade by ground. WindRunner joins the lucrative oversized cargo marketRadia joins the niche network of aerospace companies manufacturing giant planes to carry over-sized cargo, like heavy machinery, military tanks, helicopters, and satellites.
Persons: , Mark Lundstrom —, Radia Radia, Antonov, GLEB GARANICH, Radia, Mark Lundstrom, WindRunner, Ruslan, Jens Schlueter, Robert Sorbo Organizations: Service, MIT, Office of Energy, Renewable Energy, Boeing, Business, Russian, Getty, Aircraft, Airbus, Airbus Beluga Transport Locations: Colorado, Russia, Soviet, Radia, Ukrainian
Airbus' independent cargo airline flew its first BelugaST mission to the US in March. The mammoth BelugaST is deployed to transport oversized items like satellites and helicopters. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The beluga-shaped aircraft carried parts for the manufacturer's family of A320, A330, and A350 planes on behalf of its in-house subsidiary known as Airbus Transport International. This history prompted the founding of Airbus Beluga Transport, or AiBT, in 2022 as a new home for the BelugaST fleet as the planemaker replaced the original jet with the next-generation BelugaXL.
Persons: Organizations: Airbus, Service, Airbus Transport International, ATI, Airbus Beluga Transport Locations: Toulouse, France, Florida
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
Sam Altman's act may be wearing thin
  + stars: | 2024-03-26 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +7 min
download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we're looking into how some in Silicon Valley are starting to sour on OpenAI's Sam Altman . AdvertisementFrom hardball tactics when raising funds to relentless self-mythologizing about his role in the future of tech, Altman's act is wearing thin on some . Even VCs uninterested in AI deals are quickly becoming servants to Altman's AI empire. Big market, fall hard.
Persons: , Baltimore's Francis Scott Key, Sam Altman, Alastair Grant, Rebecca Zisser, Darius Rafieyan, Altman, Elon Musk, à, Steve Jobs, VCs, Samantha Stokes, Eric Baradat, Torsten Slok, David Rosenberg, BofA, Drew Watson, Birkin, Abanti Chowdhury, Elon, Don Lemon, that's, Musk, Mark Zuckerberg, Google's, Meta, Dave Calhoun, Aaron Schwartz, Adam Neumann, Neumann, Robert F, Kennedy Jr, Dan DeFrancesco, Hallam Bullock, George Glover, Grace Lett Organizations: Business, Service, Baltimore Fire Department, Tech, Apple Vision, NFL, ChatGPT, Kruze Consulting, Apollo Global Management, Federal Reserve, Bank of America, Abanti, Getty Images, Street Locations: Silicon Valley, Plenty, Big, Orlando, New York, London, Chicago
Boeing CEO Dave Calhoun told CNBC the company needs to slow down and put safety before speed. Calhoun announced Monday he will be stepping down from the planemaker by the end of the year. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBoeing has been mired in a quality control crisis, and even the company's outgoing CEO says that it has a culture of rushing production. Boeing CEO Dave Calhoun announced in a letter to staff on Monday that he would be stepping down from the company by the end of the year.
Persons: Dave Calhoun, Calhoun, Organizations: CNBC, FAA, Service, Boeing, Alaska Airlines Boeing, Max, Business
The FAA is upping its oversight of United Airlines following a spate of safety events. A tire fell off a United Boeing 777 and another plane veered off the runway, among others. Bloomberg reports United is being stopped from approving new pilots and may not be allowed to add new routes. AdvertisementUnited Airlines is facing tighter scrutiny from the Federal Aviation Administration following a string of safety incidents. The moves could hamper the airline's "United Next" plan, which aims to expand its capacity with 800 new jets by 2032.
Persons: , Sasha Johnson Organizations: FAA, United Airlines, United Boeing, Bloomberg, Service, Airlines, Federal Aviation Administration, Business, Boeing, Max, Houston Intercontinental Airport, Alaska Airlines
Boeing CEO Dave Calhoun is stepping down. Calhoun was appointed CEO of Boeing after the planemaker's former CEO, Dennis Muilenburg, stepped down in December 2019 following two crashes of another Max variant, the Max 8. Calhoun also said that Boeing Chair Larry Kellner wouldn't be standing for reelection, with Steve Mollenkopf elected by the board as his replacement. Calhoun added that Stan Deal, the CEO of Boeing Commercial Airplanes, was retiring and would be replaced by Stephanie Pope, effective immediately. I also want to thank Stephanie for taking on this critical role.
Persons: Dave Calhoun, Calhoun, Dennis Muilenburg, Max, Calhoun didn't, Larry Kellner wouldn't, Steve Mollenkopf, Stan Deal, Stephanie Pope, He'd, Read, Larry Kellner, Larry, Steve, Stan, Stephanie, Dave Organizations: Boeing, Alaska Airlines, Max, Federal Aviation Administration, Qualcomm, Boeing Commercial Airplanes, BCA
Read previewFrom a missing panel to a tire falling off midair, United Airlines has experienced multiple high-profile safety incidents over the past few weeks. Instead, some aviation experts have pointed to a possible trend in United's maintenance safety systems. Regarding the missing panel, he said, "that smacks of a maintenance problem of United Airlines." Former Delta Air Lines chief pilot, Alan Price, noted safety redundancies in some events played out as they were designed to. Kirby said safety enhancements like an extra day of pilot training and a "centralized training curriculum" for new-hire mechanics, which were planned before the recent safety events, are actively being deployed.
Persons: , Max, That's, Arthur Rosenberg, Richard Aboulafia, Steve Ganyard, Alan Price, Kit Darby, Mark Millam, Scott Kirby, Kirby Organizations: Service, United Airlines, Airbus, Boeing, Business, Fox News, Tires, Aviation, ABC, Denver International Airport ,, Aviation Safety Network, Former Delta Air Lines, Associated Press, CBS, Flight Safety Foundation, Alaska Airlines Locations: Houston, San Francisco, United, Denver, Denver International Airport , Colorado, USA
NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Close to three months later, the electric carmaker holds a much less enviable title — it's the S&P 500's biggest loser year-to-date. Tesla shares have plummeted about 30% year-to-date, wiping about $230 billion off the company's value. AdvertisementThe gap was even wider at the end of last week, but Tesla shares were up almost 6% on Monday. AdvertisementNelson also believes Tesla could become the world's biggest auto manufacturer — but others don't share his optimism.
Persons: , Tesla, Elon, BYD, That's, Seth Goldstein, Goldstein, Refinitiv, Garrett Nelson, Nelson, Wells, Ross Gerber, who's Organizations: Elon, Service, Boeing, Alaska Airlines, MAX, Elon Musk's, North, Fox Business Locations: Elon Musk's, North America, Europe
A Latam Airlines Boeing 787 dropped midair Monday, injuring at least 50 people. If true, that would be reminiscent of when a military Airbus A330 suddenly nose-dived in 2014. A pilot-seat mishap sent a military Airbus A330 plummetingTen years ago, on February 9, 2014, a Royal Air Force Airbus A330 plummeted 4,400 feet in about 30 seconds. The Boeing 787 system involved has a fly-by-wire system, but instead of a side-stick, the planemaker has installed the traditional yoke. A Singapore Airlines Boeing 787 flight simulator shows the fly-by-wire system uses a yoke instead of the Airbus' side-stick.
Persons: , Paul Crouch, RAF Brize, armrest, Taylor Rains Organizations: Latam Airlines Boeing, Airbus, Service, CNN, Street, Royal Air Force Airbus, British military's Voyager, RAF, RAF Brize Norton, UK's Military Aviation Authority, Military Aviation, Boeing, Singapore Airlines Boeing Locations: Sydney, Auckland , New Zealand, Kabul, Bastion, Afghanistan
The NTSB is looking for security camera footage of work done on the Alaska Airlines blowout plane. The planemaker previously said it also couldn't find records of work done on the door plug. In its preliminary report, the NTSB said the jet left Boeing's factory without key bolts that keep the door plug secured. A Boeing spokesperson told Business Insider that the planemaker's standard practice is to maintain security footage on a rolling 30-day period. The incident aircraft was in Boeing's factory in September 2023 and delivered to Alaska Airlines a month later.
Persons: , Jennifer Homendy, Maria Cantwell, Ted Cruz, Max, Homendy Organizations: NTSB, Alaska Airlines, Boeing, Service, National Transportation Safety, Commerce, Science, Transportation Locations: Boeing's
Boeing's newest widebody aircraft, the 777X, is the world's largest twin-engine plane in production. I recently toured an experimental 777X plane to learn about the different flight tests. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Boeing's new aircraft will be the biggest twin-engine widebody airliner in the world once it hits the market in 2025, sporting innovations, it says, like 10% better fuel efficiency compared to its predecessor and unique folding wingtips. AdvertisementDespite ambitious planes, the planmaker has faced a number of hurdles during the 777X's certification, pushing the original certification timeline back several years.
Persons: Organizations: Service, Boeing, Alaska Airlines, Wings, Airbus Locations: Europe, Asia, Singapore, India
In today's big story, we're looking at why Zyn nicotine pouches are becoming the go-to alternative for workers looking for a boost . Zyn, a brand of nicotine pouch, has quickly gained a loyal following among some workers looking for a boost during the day. There was a 62% year-over-year bump in the amount of flavored nicotine pouches shipped in the US in 2023. Containers of "Zyn" nicotine pouches. He said the nicotine pouches were too accessible and gave him migraines.
Persons: , Michael M, Jenny Chang, Rodriguez, Sarah Jackson, Tim Paradis, Sarah, Tim, it's, Zyn, Tim he'll, vaping, Mark Spitznagel, Spitznagel, Samantha Lee, Stanley, Max, Bob Jordan, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, Business, Getty, Wall Street, Republican, New York Stock Exchange, UBS, Electronic Arts, Verizon, Ford, Reading, Airlines, Boeing Locations: Copenhagen, New, Wall St , New York, USA, Oxford, New York, London
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