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☆ Boeing’s head of defense unit Ted Colbert to leave
▼ + stars: | 2024-09-20 | by ( Reuters | Cnn'S Chris Isidore | ) edition.cnn.com time to read: +2 min

Reuters —Boeing said on Friday that Ted Colbert, president and CEO of its defense, space and security unit will be leaving the company effective immediately. “I’d like to share that Ted Colbert, president and CEO of Boeing Defense, Space & Security (BDS), will be leaving Boeing, and that l’ve asked Steve Parker to temporarily oversee BDS, effective immediately, until a replacement for Ted is named at a later date,” Kelly Ortberg, Boeing’s president and CEO, said Friday in a statement. In the most recent quarter, Boeing’s Defense, Space & Security unit lost $913 million, up from the $527 million loss in the same period a year ago, after a narrow profit in the first quarter. But both the second quarter loss and the 2023 full-year loss were more than the company’s troubled commercial aircraft unit lost in the same periods. Boeing’s shares closed down about 1% on Friday and have lost about 41% so far this year.

Persons: Ted Colbert, Steve Parker, “, l’ve, Ted, ” Kelly Ortberg, ”, Utkarsh, Shounak Dasgupta Organizations: Reuters, Boeing, Boeing Defense, Space & Security, BDS, Boeing Company, Boeing’s Defense, & $ Locations: Bengaluru

☆ Boeing says it's going to start furloughing 'a large number' of its white-collar employees amid strike
▼ + stars: | 2024-09-19 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

On Wednesday, Boeing announced it will be temporarily furloughing a "large number" of white-collar employees. The news comes after around 30,000 Boeing workers began a strike on Friday after rejecting a new pay contract. "We are initiating temporary furloughs over the coming days that will impact a large number of US-based executives, managers, and employees," Kelly Ortberg, the CEO of Boeing, wrote in an email to employees. In a union vote on September 12, workers voted against an agreement that Boeing and the labor union for machinists and aerospace workers had proposed. Read the full memo Ortberg sent to employees:Team,As you know, the IAM 751 and W24 went on strike last Friday.

Persons: Kelly Ortberg, Ortberg, It's, furloughs, Kelly Organizations: Service, Wednesday, Boeing, Employees, Business Insider, IAM Locations: Boeing's, Pacific Northwest

☆ Boeing workers are set to strike — and it could cost the company billions
▼ + stars: | 2024-09-13 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

The walkout depressed revenues in the period by $4.3 billion, Boeing said at the time. Another strike of that length would cost Boeing at least $3 billion, according to a TD Cowen research note cited by The New York Times. The rejected deal would have cost Boeing an extra $900 million a year if passed, they noted. A Boeing strike in 1989 cost the company $2.5 billion in lost revenue, and the next one in 2005 cost it about $1 billion, the American Action Forum noted in a paper this week. "This may be because Boeing generally delays orders rather than losing them, so their revenue is time-shifted rather than diminished."

Persons: —, Cowen, Kelly Ortberg, they're Organizations: Service, Boeing, International Association of Machinists, Aerospace Workers, IAM, Business, The New York Times, Jefferies, CNBC, American Action, AAF

☆ Boeing’s new CEO is already making an overdue change his first day on the job
▼ + stars: | 2024-08-08 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN —Today is Kelly Ortberg’s first day as CEO of Boeing. The new CEO said in a memo to staff Thursday that he decided to work 2,300 miles from the company’s current corporate offices in Arlington, Virginia, to help restore trust in the company’s commercial aircraft business. A Boeing 737 MAX aircraft is shown on the assembly line at the Boeing facility in Renton, Washington. The company said it had no comment whether it is considering moving its entire headquarters back to Seattle along with Ortberg. Boeing executives admitted there they still don’t know how the plane in the door plug blowout left Boeing’s Renton, Washington factory without the four bolts needed to keep the door plug in place.

Persons: Kelly Ortberg’s, He’s, –, Ortberg, ” Ortberg, “, he’d, Jennifer Buchanan, Richard Aboulafia, ”, he’s, Max, Jennifer Homendy Organizations: New, New York CNN, Boeing, Puget Sound, Seattle Times, AP, Max, Alaska Airlines, ” Boeing, Federal Aviation Administration, National Transportation Safety Board, Alaska Locations: New York, Seattle, Chicago, Arlington , Virginia, Renton , Washington, Boeing’s Renton , Washington

☆ Airlines may be struggling but global travel is in an uptrend. These companies are set to benefit
▼ + stars: | 2024-08-02 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

Global Jets ETF , whose largest holdings are Southwest Airlines , United Airlines , American Airlines and Delta Air , is off 7.5% just since the end of June. GE Aerospace GE Aerospace is a pure play on the rise of global air travel, according to John Belton, portfolio manager at Gabelli Funds. Just about all 18 analysts polled by LSEG consider GE Aerospace a buy, with five rating it a strong buy. Central to the investment thesis for GE Aerospace is its market leadership. "The air travel industry is a growth industry," Galluccio said.

Persons: Richard Branson, John Belton, Belton, Nicholas Galluccio, Galluccio, Morningstar, that's, Tony Bancroft, Bancroft, there's, wanderlust Organizations: Virgin Group, U.S . Global Jets ETF, Southwest Airlines, United Airlines, American Airlines, Delta Air, Transportation, Boeing, Airbus, Gabelli, International Air Transport Association, AAR Corp, Teton Advisors, Westwood, Equity, GE Aerospace GE Aerospace, Gabelli Funds, New York Stock Exchange, General Electric, GE Aerospace, LSEG, GE, Airlines, Morningstar, Growth, Max, Federal Aviation Administration, Aerospace & Defense ETF, Heico Corporation, Triumph, TransDigm Locations: U.S, Eastern Europe

☆ Biotech and more: Hold these growth stocks for the next 10 years, the pros say
▼ + stars: | 2024-08-02 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

Growth stocks have been volatile, with tech names going through wild swings in recent weeks. On the whole, growth stocks are up this year, although they recently fell slightly. What are some of such stocks that investors can buy and hold for the next 10 years? CNBC Pro asked fund managers and other investors who focus on growth stocks for some ideas. There are two segments in this business: original equipment and aftermarket, according to him.

Persons: Russell, TransDigm, Casey's, Janjigian Organizations: Nasdaq, . Federal Reserve, CNBC Pro, Waste Management, Republic Services Group, Carnegie Investment, Greenwich Wealth Management, U.S . Food, Drug Administration

☆ Boeing taps former Collins Aerospace CEO Kelly Ortberg to replace Dave Calhoun
▼ + stars: | 2024-07-31 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Kelly Ortberg, chief executive officer of Rockwell Collins Inc., stands for a photograph at the company's production facility in in Manchester, Iowa, U.S., on Wednesday, Aug. 31, 2016. Boeing has named Robert "Kelly" Ortberg to succeed CEO Dave Calhoun, picking a longtime aerospace veteran from outside the company as the manufacturer scrambles to regain its footing from safety and manufacturing crises. Ortberg, 64, previously led major aerospace supplier Rockwell Collins, which later became Collins Aerospace, and the business is now part of industry behemoth RTX . His appointment Wednesday came alongside Boeing's second-quarter results, which revealed a wider-than-expected loss and a 15% drop in sales. "Kelly is an experienced leader who is deeply respected in the aerospace industry, with a well-earned reputation for building strong teams and running complex engineering and manufacturing companies."

Persons: Kelly Ortberg, Robert " Kelly, Ortberg, Dave Calhoun, Rockwell Collins, Boeing's, Calhoun, Kelly, Steven Mollenkopf Organizations: Rockwell Collins Inc, Boeing, Rockwell, Collins Aerospace Locations: Manchester , Iowa, U.S

☆ At the year's biggest air show, Boeing and Airbus orders were muted. Supply chain worries were not
▼ + stars: | 2024-07-30 | by ( Leslie Josephs | ) www.cnbc.com time to read: +5 min

Toby Melville | ReutersFARNBOROUGH, England — Massive airplane orders, hundreds deep in recent years, were absent from this year's biggest air show. One standout was Air Korea's order for up to 50 Boeing wide-body planes, including the 777X, which Boeing is working toward getting certified by regulators. As both manufacturers grapple with production strains, Air Korea CEO Walter Cho quipped during the Boeing order signing: "Whichever comes first will become our flagship, whoever's on time." Boeing has an overall backlog of close to 5,500 planes, while Airbus has more than 8,000 on order. Many airlines from United Airlines to Air India have also stocked up on new jet orders as travel rebounded in the pandemic.

Persons: Toby Melville, Ihssane Mounir, Boeing's, Walter Cho, whoever's, Peter Anderson, Matthew Childs, Christian Scherer, Scherer Organizations: Airbus, Farnborough, Reuters, Boeing, Wall Street, Paris Air, Ishka, Air, Max, Airbus A321neo, United Airlines, Air India, The Boeing Company, AerCap, Reuters Airbus Locations: Farnborough, Britain, Reuters FARNBOROUGH, England, London, Paris, Air Korea, Arlington , Virginia

☆ How Boeing defrauded the United States and escaped with a slap on the wrist
▼ + stars: | 2024-07-13 | by ( Chris Isidore | Pete Muntean | ) edition.cnn.com time to read: +10 min

Boeing agreed to plead guilty to a charge that it defrauded the Federal Aviation Administration, hiding crucial information about a design flaw on the 737 Max during its original certification process. Boeing attorneys had it as part of their mission to make sure that its executives did not face any criminal charges, Lindquist said. A Boeing spokesman said the company had no comment about the anticipated guilty plea or the case beyond a brief statement confirming the agreement. Another way to make executives payEven if there are no criminal charges brought against executives, they can face significant penalties, Arlen said. Why Boeing will keep its government contractsThe most serious penalty that Boeing could face is by far the least likely – it could be barred from federal government contracts due to its guilty plea.

Persons: Critics, ”, Peter Goeltz, Goeltz, “ I’m, Moody’s, Paul Cassell, Jemal Countess, “, Mark Lindquist, Lindquist, FAA ”, Mark Forkner, ” Lindquist, there’s, that’s, Arlen, Dave Calhoun, Dennis Muilenburg, Calhoun, Max, Patrick Ryder, Robert Clifford, – CNN’s Natasha Bertrand Organizations: New, New York CNN, Boeing, Federal Aviation Administration, National Transportation Safety Board, CNN, ”, Alaska Airlines, Justice Department, FAA, Volkswagen, University of Utah, Ethiopian Airlines, Max, Alaska Air, DOJ, “, Department of Defense, Pentagon, Air Force, Department of Justice, they’re Boeing Locations: New York, Alaska, Indonesia

☆ Stocks making the biggest moves midday: SolarEdge Technologies, Pool Corp., Carnival and more
▼ + stars: | 2024-06-25 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: SolarEdge Technologies — Shares of the company tumbled more than 20% following the announcement that it will offer $300 million worth of convertible notes due 2029. — The stock plunged more than 7% after the company updated its earnings guidance for the full year on Monday after the bell. The wholesale pool supplies distributor expects full-year earnings between $11.04 and $11.44 per share. Carnival — Shares added nearly 8% after the cruise company posted a second-quarter earnings and revenue beat. Penn Entertainment — The casino operator and online gambling platform's stock fell 5% after Raymond James downgraded it to market perform from outperform.

Persons: Leslie's, LSEG, Raymond James, Enovix, Rivian, —, Alex Harring, Lisa Kailai Han, Jesse Pound Organizations: U.S . Securities, Exchange, Pool Corp, Carnival, Penn Entertainment, Airbus, Nvidia —, Novo Nordisk, Guggenheim, Spirit AeroSystems, Boeing, Bloomberg Locations: Singapore, France, China

☆ Airbus shares fall 11% as company cuts 2024 guidance on targets, deliveries
▼ + stars: | 2024-06-25 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: 1 min

A Lufthansa Airbus A340-313 aircraft taxis at Los Angeles International Airport before departing for Frankfurt on May 5, 2024 in Los Angeles, California. Shares in Airbus fell by close to 11% on Tuesday after the company said it was cutting its targets for 2024, including aircraft deliveries and earnings. Airbus on Monday said it was now expecting its adjusted earnings before interest and taxes to come in at around 5.5 billion euros ($5.9 billion), down from a previous estimate of 6.5 to 7 billion euros affirmed on April 25. The company said it was now anticipating to deliver approximately 770 commercial aircrafts this year, compared to a previous outlook near 800. Europe-listed shares in the company were down 10.75% at 9:50 a.m. London time.

Organizations: Lufthansa Airbus, Los Angeles International Airport, Frankfurt, Airbus Locations: Los Angeles , California, Europe, London

☆ Front-line NATO allies are facing an unconventional Russian threat short of war but still quite dangerous
▼ + stars: | 2024-06-22 | by ( Constantine Atlamazoglou | ) www.businessinsider.com time to read: +6 min

"There are hybrid threats. NATO has also cautioned against intensifying Russian hybrid warfare in the region and in the rest of Europe that could include "disinformation, sabotage, acts of violence, cyber and electronic interference, and other hybrid operations." The murky nature of hybrid warfare can make it hard to identify and address potential threats. Yet, the Baltic countries are prioritizing hybrid threats and fortifying their institutions in response. And last week, writing alongside his Polish and Czech colleagues, Latvian President Edgars Rinkēvičs expressed "deep concern" over Russian hybrid threats.

Persons: —, Denmark –, Margus Tsahkna, Maria Zakharova, Ukraine Volodymyr Zelenskyi, Gitanas Nausėda, Yan Dobronosov, Dmitry Petrov, Gabrielius Landsbergis, Landsbergis, –, Vladimir Putin, Mikhail Svetlov, Edgars Rinkēvičs Organizations: Service, West, NATO, EU, Business, Estonian, Russian Foreign Ministry, Getty, Kremlin, Lithuanian, Destabilization, 76th Guards Air Assault Division, Alliance Locations: Latvia, Lithuania, Estonia, Russia, Ukraine, Denmark, Kyiv, Moscow, Baltics, Belarus, Soviet Union, Russian, crosshairs, Europe, Baltic, Finland, Narva, Tallinn, Vilnius, Poland, Pskov, Crimea, Tellingly, Czech, Latvian

☆ Boeing Starliner: Two astronauts wait to come home amid spacecraft issues
▼ + stars: | 2024-06-19 | by ( Jackie Wattles | ) edition.cnn.com time to read: +9 min

Spaceflight veterans Suni Williams and Butch Wilmore arrived at the space station aboard the Starliner on June 6. It’s not uncommon for astronauts to unexpectedly extend their stay aboard the space station — for days, weeks or even months. But the situation makes for a moment of uncertainty and embarrassment that joins a long list of similar blunders by the Boeing Starliner program, which is already years behind schedule. The Starliner spacecraft on NASA's Boeing Crew Flight Test is pictured docked to the Harmony module's forward port on June 13 as the International Space Station orbited 262 miles above Egypt's Mediterranean coast. The first Starliner test mission, flown without crew in late 2019, was riddled with missteps.

Persons: CNN —, Suni Williams, Butch Wilmore, Williams, Wilmore, it’s, “, ”, Steve Stich, Mark Nappi, It’s, Stich, Starliner, Wilmore —, Robert Behnken, Douglas Hurley, Joel Kowsky, Bob Behnken, Doug Hurley —, Hurley, Behnken’s, ” Stich, Michael Lembeck, Lembeck, —, Dragon, ” Lembeck, ” Nappi, “ Everything’s, ” Williams Organizations: CNN, NASA, International, Spaceflight, Boeing, NASA's Boeing, Harmony, SpaceX, International Space, University of Illinois Locations: firma, University of Illinois Urbana, Champaign

☆ She was the first Black woman to fly in the US Air Force. Now this trailblazing pilot is getting ready for her final flight
▼ + stars: | 2024-05-23 | by ( Tamara Hardingham-Gill | ) edition.cnn.com time to read: +9 min

“To still impart that knowledge on young people, and particularly young black women, that they can do this.”Becoming a pilot was something Claiborne, originally from Virginia, could never have imagined for herself as a young girl. When asked about the transition to flying commercial planes, Claiborne stresses that “a pilot is a pilot.”“You’re in different type organizations, but you’re still a pilot,” she adds. So this is an opportunity for her to really enjoy herself.”Increasing diversityClaiborne is committed to increasing pilot diversity and will continue to mentor young women. It’s estimated that there are less than 150 Black women pilots in the US, and Claiborne feels a huge responsibility as one of them. While this may be the end of her commercial flying career, Claiborne isn’t necessarily saying “goodbye” to piloting forever, and would love to fly a World War II aircraft one day.

Persons: CNN — She’s, Theresa Claiborne, “ I’ve, ” Claiborne, Claiborne, “, ”, I’d, ” “, Caliborne, Ruth Bader Ginsburg, you’re, I’ve, Bessie Coleman, she’s, “ I’m, it’ll, they’d, Claiborne isn’t, ‘, ’ ” Organizations: CNN, Newark Liberty International, Air Force Reserve, Corps, US Air Force, California State University, KC, United Airlines, United, ”, US Bureau of Labor Statistics, It’s, Tuskegee Airmen Locations: New Jersey, Lisbon, Portugal, Virginia, Turkey, Sacramento, Claiborne, United States, Newark , New Jersey, Paris, Newark

☆ Frank Shrontz, 92, Dies; Led Boeing in the Last of Its Golden Years
▼ + stars: | 2024-05-22 | by ( Clay Risen | ) www.nytimes.com time to read: 1 min

Frank Shrontz, a widely admired executive who led Boeing in the 1980s and ’90s, a decade of spectacular growth in both its bottom line and its prestige as one of the world’s premier aerospace companies — a period very different from its current crisis of public confidence — died on May 3 at an assisted living home in Seattle. His son Craig confirmed the death. Although he spent the bulk of his career at Boeing, Mr. Shrontz, who had a law degree and an M.B.A., was an unlikely choice to lead a company that prided itself on letting engineers and not businessmen set the pace. Yet during his time at the helm — he became president in 1985, chief executive in 1986 and chairman of the board in 1988 — he led Boeing through a growth market, a recession and a thorough restructuring that produced one of the most successful commercial aircraft ever put into service, the 777.

Persons: Frank Shrontz, —, Craig, Shrontz Organizations: Boeing, Mr Locations: Seattle

☆ Boeing supplier Spirit AeroSystems lays off workers, citing lower plane delivery rates
▼ + stars: | 2024-05-16 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com time to read: +1 min

Aerospace supplier Spirit AeroSystems on Thursday said it will lay off some of its workers because of slower delivery rates on commercial aircraft as it struggles with a slowdown at its biggest commercial airplane customer, Boeing . Spirit AeroSystems told staff in a memo, reported earlier by Wichita-based KSN, that it would cut about 400 to 450 hourly employees. "We are committed to implementing this transition in as compassionate a manner as possible," Spirit AeroSystems said in a statement. Last week, Spirit AeroSystems said first-quarter Boeing deliveries decreased 31% from the same period in 2023, and said overall deliveries were down 11.3%. About 70% of Spirit AeroSystems' revenue last year came from Boeing, although the company also makes parts for Boeing's rival Airbus .

Persons: AeroSystems, Max, Dave Calhoun Organizations: Boeing, International Paris Air, Le, Aerospace, Airbus, CNBC Locations: Le Bourget, Paris, France, Wichita

CNN —The House has passed a major federal aviation bill that aims to improve aviation safety, enhance protections for passengers and airline workers and invest in airport and air travel infrastructure nationwide. The bill renewing the Federal Aviation Administration’s authority for five years will next head to President Joe Biden to be signed into law. Setting a standard for travel creditsUnder the bill, travel credits issued by airlines in lieu of refunds would have to be useable for at least five years. Increasing cockpit voice recordingCommercial aircraft would have to carry 25-hour cockpit voice recorders under the legislation. The cockpit voice recorder is one of the two black boxes and is currently only required to capture two hours of sound from the cockpit.

Persons: Joe Biden, John F, Republican Sen, Josh Hawley of, Democratic Sen, Elizabeth Warren of Organizations: CNN, Federal Aviation, FAA, National Transportation Safety, Reagan National Airport, American Airlines, Delta Air Lines, Department of Transportation, Republican, Democratic, Transportation, Administration, NTSB Locations: Washington, Kennedy, New York City, Josh Hawley of Missouri, Elizabeth Warren of Massachusetts

☆ Forget Nvidia. Here are 5 undervalued tech stocks every investor should own, Goldman Sachs says
▼ + stars: | 2024-05-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Goldman Sachs said this week that there are plenty of cheap tech stocks to buy coming out of earnings. The information technology sector has reported a year-over-year earnings growth rate of 23.2%, according to John Butters, senior earnings analyst at FactSet. CNBC Pro combed through Goldman Sachs' research to find the most underappreciated buy-rated tech stocks. "Second, ANET has growing confidence in its AI position and its > $750 mn AI revenue target for 2025," he added. Second, ANET has growing confidence in its AI position and its > $750 mn AI revenue target for 2025.

Persons: Goldman Sachs, John Butters, Goldman, Noah Poponak, Poponak, Kash Rangan, Rangan, Michael Ng, Arista's, Ng, ANET Organizations: FactSet, CNBC, Microsoft, Teledyne Technologies, Arista Networks, Arista, TAM, Cloud Titans, Cloud Locations: 2H24

☆ 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

☆ Airbus CFO says A350 plane production increase not tied to Boeing troubles
▼ + stars: | 2024-04-26 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

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

☆ REAL ID requirements are coming next year—here's what U.S. fliers need to know
▼ + stars: | 2024-04-23 | by ( Nicolas Vega | ) www.cnbc.com time to read: +1 min

Domestic fliers have one year left to get REAL ID-compliant documentation before the Department of Homeland Security's new policies go into effect. The REAL ID Act was introduced in 2005 in an effort to tighten the nation's air travel security in the wake of the September 11 attacks. The deadline for REAL ID compliance has been repeatedly delayed since its original 2008 deadline. Once the REAL ID requirement goes into effect, travelers will no longer be able to board domestic flights with an ordinary license. Travelers who go to the airport after May 7, 2025 without a REAL ID-compliant license will not be able to get past security, the DHS website says.

Organizations: Department of Homeland, DHS, Travelers

☆ Former JetBlue CEO Robin Hayes to lead Airbus in North America
▼ + stars: | 2024-04-22 | by ( Samantha Delouya | ) edition.cnn.com time to read: +1 min

CNN —Former JetBlue CEO Robin Hayes will join Airbus as the company’s North American leader. Airbus reported record annual jet orders in 2023, but in a statement Monday, Airbus CEO Guillaume Faury hinted at plans for further expansion in North America. The announcement of Hayes’ Airbus appointment comes just over two months after he left JetBlue, which has a fleet of Airbus planes. “It’s time I put more focus on my health and well-being.”In a statement Monday, Hayes said he was excited and energized to join Airbus after taking time off. As chairman and CEO of the North American business, Hayes will lead Airbus’ commercial aircraft business and oversee the company’s helicopters and space and defense business in the region.

Persons: Robin Hayes, Hayes, Jeff Knittel, Guillaume Faury, Robin, Faury, “, ” Hayes Organizations: CNN —, JetBlue, Airbus, Airbus Americas, Boeing, North Locations: North America

☆ Boeing is betting big on its upcoming $442 million 777X to compete with the popular Airbus A350. Here's how the jets compare.
▼ + stars: | 2024-04-13 | by ( Taylor Rains | ) www.businessinsider.com time to read: +1 min

Boeing's upcoming 777X airliner is set to compete with the Airbus A350 widebody family. The 777-9 has better capacity than the biggest A350 variant, but it has less range and costs more. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe upcoming Boeing 777X is the world's largest twin-engine commercial aircraft in production. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Airbus, Service, Boeing 777X, British Airways, Emirates, Business

☆ How Bombardier is cashing in on business elite's love affair with private jet travel
▼ + stars: | 2024-04-12 | by ( Bob Woods | ) www.cnbc.com time to read: +5 min

They immediately established an ambitious, five-year strategic plan to reposition Bombardier, with a focus squarely on its sturdiest leg: the high-flying business jet and ancillary services industry. Deliveries of business and general aviation aircraft last year topped 4,000 for the first time in more than a decade, the General Aviation Manufacturers Association reported in February. Historically, the business jet market has been cyclical, said Noah Poponak, an analyst for Goldman Sachs, "but it's been hyper-cyclical in the past 20 years." Sales of all business jets were healthy leading into 2020 — and then the Covid pandemic hit. Everyone wanted a business jet and was willing to buy whatever was out there, new or used."

Persons: headwinds, Bombardier's, Alain Bellemare, divesting, Éric Martel, Bart Demosky, Demosky, Warren Buffett's Berkshire Hathaway, CFOs, Noah Poponak, Goldman Sachs, Walter Spracklin, Spracklin Organizations: Bombardier, Boeing, Airbus, General Aviation Manufacturers Association, Challenger, Global, Companies, Honeywell, RBC Capital Markets Locations: Montreal, Warren, Covid

☆ Can China's Comac break up the Airbus-Boeing duopoly?
▼ + stars: | 2024-04-10 | by ( Nessa Anwar | ) www.cnbc.com time to read: +2 min

China is on a mission to break up the Airbus -Boeing duopoly and it hopes the domestically made Comac C919 will be its first big break into foreign markets. Made by the Commercial Aircraft Corporation of China (Comac), the passenger aircraft has been touted as the "dream of a nation" by Chinese President Xi Jinping. However, there are still several hurdles Comac would need to clear before it could take on the French and American aerospace giants' dominance. "As a customer and operator of China's Comac products, we can get financial support from China's import-export bank, and also central banks," Cham told CNBC in an interview. According to Cham, Comac said it would consider creating aircraft maintenance, repair and overhaul support for its aircraft in Brunei.

Persons: Xi Jinping, Cham, Comac, Adam Cowburn, Cowburn, Brendan Sobie, It's, Brendan Organizations: Airbus, Boeing, Commercial Aircraft Corporation of China, Cham Chi, CNBC, Alton Aviation Consultancy, " Industry, Sobie Aviation, Airlines Locations: China, American, Brunei, Cham, Shanghai

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