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☆ Boeing suspended its financial guidance and said it is focused solely on 'comprehensive actions' to improve the quality of its planes
▼ + stars: | 2024-01-31 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Boeing is under heavy scrutiny following the Alaska Airlines door plug blowout earlier in January. AdvertisementBoeing suspended its financial forecast for 2024 as it reported its fourth-quarter earnings on Wednesday, amid scrutiny following the Alaska Airlines blowout. AdvertisementIn the earnings report, Boeing said it "continues to cooperate transparently with the FAA following the Alaska Airlines Flight 1282 accident." Last week, Alaska Airlines said it expects a $150 million hit due to the grounding. The FAA announced last Wednesday that it won't let Boeing expand production of the 737 Max.

Persons: Dave Calhoun, —, Calhoun, Max, Nobody Organizations: Boeing, Alaska Airlines, Service, FAA, Portland International, Transportation Safety, Street Journal, Federal Aviation Administration, Airbus Locations: Alaska

☆ Starlab, meet Starship: Private space station buys SpaceX launch for later this decade
▼ + stars: | 2024-01-31 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

An artist's rendering of the Starlab space station in low Earth orbit. Private station Starlab will fly on a Starship rocket later this decade to get to orbit, the companies' developing both spacecraft announced on Wednesday. Starlab represents one of the earliest commercial customers to order a Starship launch from SpaceX. The station is one of several currently in development by U.S. companies, as NASA prepares to retire the International Space Station in 2030. The space station's four-year development and construction timeline also gives SpaceX time to move forward with Starship, advancing from demonstration flights to launching customer spacecraft.

Persons: Starlab, Hilton – Organizations: Voyager Space, Airbus, Northrop Grumman, SpaceX, NASA, Space Station, Voyager Locations: U.S

☆ Boeing is set to report fourth-quarter results in the shadow of 737 Max 9 crisis
▼ + stars: | 2024-01-31 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Boeing on Wednesday is set to report fourth-quarter results and answer to investors eager to hear how a midair blowout on one of the plane maker's new 737 Max 9s could reverberate through the aviation industry in the months, if not years, ahead. The effect of that accident and subsequent fallout won't be felt in Wednesday's earnings results but will likely be mentioned in Boeing's outlook. Federal investigators are examining whether the door plug was improperly installed before the Max 9 plane was handed off to Alaska Airlines late last year. The Boeing 737 Max is the company's best-selling plane. The company had the first of several production stand-downs last week to discuss with workers manufacturing problems and other potential improvements to Boeing's processes.

Persons: Max, Dave Calhoun, Calhoun Organizations: Boeing, LSEG, Alaska Airlines, company's, Airbus, Federal Aviation Administration, Max, Capitol Locations: Alaska, Portland , Oregon

☆ 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

☆ Boeing's 737 Max 9 jet is flying again. Here's what experts say about its safety.
▼ + stars: | 2024-01-30 | by ( Taylor Rains | ) www.businessinsider.com time to read: +7 min

Read previewOn January 5, an Alaska Airlines 737 Max 9 door plug broke off shortly after takeoff from Portland International Airport, leaving a gaping hole in the jet's fuselage. The Federal Aviation Administration quickly grounded 171 other Max 9 planes with the same door plug, mostly flown by United Airlines and Alaska. Four critical bolts used to secure the door plug were missing from the jet when it left Boeing's assembly line, The Wall Street Journal reported, representing a massive quality control lapse. Not all experts agree on the Max 9's safetyThe Alaska Airlines Boeing 737 MAX 9. AdvertisementAccording to the Washington Post, the travel booking website Kayak said its filter for the 737 Max significantly increased in the days after the incident.

Persons: —, Max, Constance von Muehlen, Ingrid Barrentine, Mike Whitaker, Henry Harteveldt, Ed Pierson, I've, Joe Jacobsen, Harteveldt, Richard A, Brooks, Anthony Brickhouse, Brickhouse Organizations: Service, Alaska Airlines, Portland International Airport, Federal Aviation Administration, United Airlines, Street Journal, Business, CNN, FAA, Boeing, Spirit Airlines, Panama's Copa Airlines, Copa, Reuters, Atmosphere Research, Alaska Airlines Boeing, National Transportation, Alaska Max, Washington Post, LA Times, Southwest Airlines, Japan Airlines, Getty, Riddle Aeronautical University, Japan Airlines Airbus, NTSB Locations: Alaska, United , Alaska, United, AFP

☆ Boeing was once known for safety and engineering. But critics say an emphasis on profits changed that
▼ + stars: | 2024-01-30 | by ( Chris Isidore | ) edition.cnn.com time to read: +22 min

Boeing is back in the headlines for all the wrong reasons again after the Alaska Airlines 737 Max 9 incident. Boeing workers participating in a "Quality Stand Down" at Boeing's 737 Max factory in Renton, Washington on January 25, 2024. One of the first Boeing 737 Max jets on the production line at the company's manufacturing facility in Renton, Washington, U.S., on Monday, Dec. 7, 2015. The airlines around the world that have already bought Boeing planes basically need to keep using those models, whatever the problems. Commercial pilots are certified on specific models and are not able to easily move from single-aisle to widebody versions of Boeing jets, let alone between a Boeing and an Airbus jet.

Persons: I’m, Dave Calhoun, we’ve, ”, “, Calhoun, Max, Jason Redmond, Stan Deal, Ed Pierson, McDonell Douglas, Critics, ” Ron Epstein, McDonnell Douglas, Jim McNerney, Tammy Duckworth, Aaron Schwartz, ‘ We’re, Richard Aboulafia, Joshua Drake, Boeing Calhoun, Bank of America’s Epstein, it’s, Pierson, Max ”, Robert Clifford, people’s, ” Calhoun, David Ryder, Aboulafia, Boeing’s Organizations: New, New York CNN, Boeing, Alaska Airlines, National Safety Transportation Board, Pilots, Max, Alaska Air, Getty, Foundation for Aviation Safety, CNN, “ Boeing, Bank of America, General Electric, Procter, Gamble, McKinsey, Co, GE, Associated, Pentagon, Capitol, FAA, Airbus, Joshua Drake Photography, Blackstone Group, Nielsen, Bank of, Aviation, Bloomberg, Ethiopian Aircraft Accident, US National Transportation Safety Board, Internal Locations: New York, Renton , Washington, AFP, Alaska, Soviet Union, Pacific, Chicago, Seattle, Washington, DC, Mobile , Alabama, Wichita, Oklahoma, Carolina, South Carolina, Calhoun, Indonesia, Ethiopia, Renton , Washington , U.S

☆ Boeing’s reputation is taking a hit, survey shows
▼ + stars: | 2024-01-30 | by ( Monica Pitrelli | ) www.cnbc.com time to read: +2 min

A report by the market research company shows net trust dropped 12 percentage points among U.S. adults from December 2023 to January 2024. Net trust represents the share of people who say they trust a brand minus those who say they don’t. Zoom In Icon Arrows pointing outwardsBoeing has not yet replied to CNBC’s request for comment. Zoom In Icon Arrows pointing outwardsAmericans typically show greater net trust in its homegrown Boeing brand than in the European-based Airbus, its largest competitor. “Expect Boeing’s net trust metrics to tick down a bit more, especially as the brand’s name remains in the headlines, but not to the extent that we saw in March 2019,” she said.

Persons: Joanna Piacenza, “, Max, Stanley Deal, ” Organizations: Morning, Boeing, Max, Alaska Airlines, United Airlines, Lion, Ethiopian Airlines, Airbus Locations: Piacenza, Alaska

☆ Ryanair CEO has ‘a lot of confidence’ in Boeing chief David Calhoun
▼ + stars: | 2024-01-29 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

“I have a lot of confidence both personally and professionally in David Calhoun and in Brian West,” Ryanair’s Michael O’Leary said Monday, referring to Boeing’s CEO and chief financial officer respectively. Calhoun — who was appointed to the top job in January 2020 as Boeing was already struggling with quality and safety issues — will unveil the planemaker’s full-year results Wednesday. Ryanair CEO Michael O'Leary, left, voiced strong support for Boeing CEO David Calhoun Monday. Partly because of this, Ryanair expects full-year profit for the current financial year to be at the lower end of a range of €1.85 billion-€1.95 billion ($2 billion-$2.1 billion) — trimming a November forecast of up to €2.05 billion ($2.2 billion). That would still be up from its previous record of €1.45 billion ($1.6 billion) earned in 2018, before the Covid-19 pandemic.

Persons: ”, David Calhoun, Brian West, Michael O’Leary, “, Calhoun —, Dennis Muilenberg, Calhoun, Michael O'Leary, Scott Kirby, Kirby, Max, ” O’Leary, we’ll, O’Leary, ” — Organizations: London CNN, Boeing, Ryanair, Lauda, United, Max, Alaska Airlines, US Federal Aviation Administration, CNBC, United Airlines, Reuters, Airbus Locations: US, Austrian, Alaska, American, Toulouse, United Kingdom, Kiwi.com, Europe

HONOLULU (AP) — An American Airlines flight from Los Angeles made a hard landing at Maui's main airport, sending five flight attendants and one passenger to the hospital. Flight 271 arrived at Kahului Airport around 2 p.m. Saturday, according to the Federal Aviation Administration, which said it was investigating. Neither American Airlines nor the FAA provided additional details. The Airbus 320 was carrying 167 passengers and seven crew, according to the airlines. This material may not be published, broadcast, rewritten or redistributed.

Organizations: American Airlines, Kahului Airport, Federal Aviation Administration, FAA, Airbus, Associated Press Locations: HONOLULU, Los Angeles

☆ American Airlines’ hard landing on Maui sends 6 to hospital
▼ + stars: | 2024-01-28 | by ( ) www.cnbc.com time to read: 1 min

American Airlines planes sit at the gate at Los Angeles International Airport (LAX) in Los Angeles, California, on July 26, 2023. An American Airlines flight from Los Angeles made a hard landing at Maui's main airport, sending five flight attendants and one passenger to the hospital. Flight 271 arrived at Kahului Airport around 2 p.m. Saturday, according to the Federal Aviation Administration, which said it was investigating. Neither American Airlines nor the FAA provided additional details. The Airbus 320 was carrying 167 passengers and seven crew, according to the airlines.

Organizations: Airlines, Los Angeles International Airport, An American Airlines, Kahului Airport, Federal Aviation Administration, American Airlines, FAA, Airbus Locations: Los Angeles , California, Los Angeles

☆ United CEO kickstarts Airbus talks amid Boeing delays, sources say
▼ + stars: | 2024-01-28 | by ( ) www.cnbc.com time to read: +5 min

"United Airlines has been in talks with Airbus about possible alternatives to the Max 10 order. Airbus and United Airlines declined to comment. Trade publication Air Insight reported Airbus and United were in talks. Signs of a potential Airbus deal have raised "concern" at Boeing, a senior industry source said. In 1992, Airbus snatched an order for A320s that broke United's reliance on Boeing, with which United shares corporate roots.

Persons: Scott Kirby, Max, Kirby's, Kirby, Stan Deal, United, Michael Leskinen Organizations: United, O'Hare International, United Airlines, Airbus, Boeing, Alaska Airlines, Bloomberg, Insight, Boeing Commercial, Max, Continental Airlines Locations: Los Angeles, Chicago , Illinois, U.S, Toulouse, Chicago, Dublin

NEW YORK (AP) — JetBlue Airways warned that it may end its bid to acquire low-cost carrier Spirit Airlines as soon as this weekend after a federal judge blocked the deal, sending Spirit shares sharply lower Friday. “Spirit believes there is no basis for terminating the Merger Agreement," Spirit wrote. Both JetBlue and Spirit have struggled financially and have been slower than some other airlines to recover from the pandemic. Since the start of 2020, JetBlue has lost $2.1 billion, and Spirit has lost $1.7 billion. Spirit tried to merge with Frontier Airlines, another low-cost carrier, in early 2022, but JetBlue won a bidding war to push Frontier aside.

Persons: JetBlue's, “, Spirit Organizations: — JetBlue Airways, Spirit Airlines, JetBlue, Justice Department, Justice, Spirit Airlines Inc, JetBlue Airways Corp, Spirit, Airbus, Pratt & Whitney, Frontier Airlines Locations: Miramar , Florida, New York, U.S, Delta, United

Alaska Airlines plans to resume flights with its Max 9s on Friday, and United aims to follow suit on Sunday. United Airlines made similar similar findings. Travelers returned to the Boeing 737 Max 8 after two of them crashed in 2018 and 2019, killing 346 people. In that case, Boeing had to redesign an automated flight-control system before the FAA would let Max 8s and Max 9s resume flying after a 20-month grounding. In addition, the FAA says it won't let Boeing expand production of Max jets until it's satisfied that quality-control concerns about the company have been resolved.

Persons: Max, Mike Whitaker, Ben Minicucci, “, Scott Keyes, Scott Kirby Organizations: Boeing, Max, Alaska Airlines, Federal Aviation Administration, FAA, NBC, United Airlines, Travelers, U.S . Department of Transportation, Airline, BOEING, Alaska, Airbus, U.S ., United Locations: United States, United, Oregon, U.S, Portland , Oregon, Alaska

☆ I toured Air India's new Airbus A350 — which it hopes will compete with elite competitors like Emirates and Qatar. See inside.
▼ + stars: | 2024-01-25 | by ( Taylor Rains | ) www.businessinsider.com time to read: +1 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAir India welcomed its new Airbus A350 in December — a first for the nation's flag carrier — and it's an incredible improvement from the airline's notoriously mediocre product. This story is available exclusively to Business Insider subscribers. The next-generation aircraft represents a new era for Air India, which debuted the Airbus model on Monday. To see the progress, I toured Air India's new A350 widebody at the Wings Airshow in Hyderabad last week — and I think customers have a lot to look forward to.

Persons: — Organizations: Service, India, Airbus, Business, Air India, Tata Group, Air, Wings Locations: Hyderabad

☆ Here's a rapid-fire update on all 32 stocks in our portfolio, including Cramer's fave tech play
▼ + stars: | 2024-01-24 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +15 min

Here's a rapid-fire update on all the stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Investors tend to assign a premium to software revenue because it is often recurring and higher margin than hardware. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer's, Jim, downgrades, preorders, we've, Jim said, Salesforce, Baird, Dupont De, Dupont, Walt Disney, Nelson Peltz, Estee Lauder, Fabrizio Freda, We've, he's, it's, Locker, Mary, Vimal Kapur, Eli Lilly, Lilly, Meta's Ray, Morgan Stanley, Ted Pick, James Gorman, —, chipmaker, It's, hasn't, Stanley Black, Decker, Wells, Charlie Scharf, We'll, Jim Cramer, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, mojo, Vision Pro, Broadcom, VMWare, Bausch Health, Caterpillar, Dupont, Costco Wholesale, Coterra Energy, Dupont De Nemours, Disney, Eaton Corp, Ford, Holding, Federal Reserve, GE Healthcare, Wall, Google, Honeywell, Boeing, Airbus, Linde, Facebook, Microsoft, Nvidia, Alto Networks, Palo Alto, Procter & Gamble, Constellation Brands, Modelo, TJX, Wynn Resorts, We've, Wynn, Jim Cramer's Charitable Locations: China, Indonesia, Brazil, India, U.S, Shenzhen, We're, Eaton, Ford, That's, Palo, Palestine, Wells Fargo, Wynn, Macau

☆ Passenger Spots Missing Bolts on Virgin Atlantic Flight, Canceled
▼ + stars: | 2024-01-23 | by ( Joey Hadden | ) www.businessinsider.com time to read: +4 min

The flight was canceled "to provide time for precautionary additional engineering maintenance checks," a Virgin Atlantic representative told Business Insider in a statement. AdvertisementThe missing bolts were not a safety concern, experts sayA Virgin Atlantic Airbus A330 flies over London in December 2022. "We'd like to apologize to our customers for the delay to their journeys," Virgin Atlantic told BI in a statement, and confirmed the plane is now back in service following an inspection. While not a safety issue, the recent Virgin Atlantic flight cancellation is not the first problem the airline has faced this year. On January 7, a Virgin Atlantic Airbus A330 traveling from Manchester to Barbados made an emergency landing after the smell of smoke filled the cockpit, The Independent reported.

Persons: —, Phil Hardy, John F, Hardy, Robert Smith, Neil Firth, Mathieu Lewis, Rolland, Getty Organizations: Service, Kennedy, Virgin Atlantic, New York Post, Business, Airbus, Kennedy News Agency, The Independent, Virgin Atlantic Airbus, Getty, Boeing, Alaska Airlines, Alaska Airlines Boeing, Max, National Transportation Safety Board, An Alaska Airlines, Portland International Airport, US Federal Aviation Administration, FAA, Independent Locations: Manchester, England, New York City, NYC, London, Portland , Oregon, Ontario , California, Barbados

☆ 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

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

☆ Akasa Air CEO explains why it chose Boeing over Airbus
▼ + stars: | 2024-01-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAkasa Air CEO explains why it chose Boeing over AirbusVinay Dube, CEO of the Indian low-cost airline, discusses its decision to order 150 Boeing 737 Max planes, and says its decision to have an "all-Boeing fleet for the foreseeable future" is not only a strategy to keep costs down.

Persons: Airbus Vinay Dube Organizations: Akasa, Boeing, Airbus

☆ 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

☆ Spirit Airlines jumps 30% after raising fourth-quarter forecast
▼ + stars: | 2024-01-19 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Spirit Airlines on Friday raised its financial forecast for the fourth quarter of 2023, sending shares soaring more than 30% after a rout earlier this week that followed a judge's ruling that blocks JetBlue Airways from buying the budget carrier. Spirit said in a filing that it expects revenue to come in at about $1.3 billion, at the high end of its earlier forecast, thanks to strong bookings at the end of the year. The airline said in the filing that it had $1.3 billion of liquidity at the end of 2023. Spirit said Friday it expects compensation from Pratt & Whitney, a unit of RTX, in connection with that engine issue. Spirit plans to hold a quarterly call with analysts on Feb. 8 to discuss results and its outlook.

Persons: Spirit, Pratt Organizations: Airlines, JetBlue Airways, Pratt & Whitney, Airbus, Company

☆ Delta CEO is confident about moving forward with order of Boeing Max 10s
▼ + stars: | 2024-01-19 | by ( Ryan Anastasio | ) www.cnbc.com time to read: +1 min

Delta Air Lines expects to move forward with an order of Boeing 737 Max 10 aircraft as the plane manufacturer struggles with issues surrounding the Max 9, the carrier's CEO told CNBC on Friday. The airline ordered 100 Max 10s in 2022 and deliveries are expected to begin in 2025, its first Boeing order in more than a decade. The Max 10, the largest model of the 737 Max, has not yet been approved by regulators. The 737 Max, Boeing's best-selling aircraft, has had a troubled history since deliveries first began in 2017. Delta flies over 500 Boeing jets a day, but does not fly either the Max or the 787, according to Bastian.

Persons: Max, Ed Bastian, CNBC's Scott Wapner, Boeing's, Bastian Organizations: Delta Air Lines, Boeing, Max, CNBC, FAA, Alaska Airlines, Airbus Locations: United States, Indonesia, Ethiopia, Bastian, Alaska, United

☆ Troubled Spirit Airlines’ shares rebound despite more losses ahead
▼ + stars: | 2024-01-19 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

The discount airline said in the filing that it expects to beat analysts’ expectations for the end of the year. Shares of Spirit fell 47% in trading Tuesday after the court blocked the acquisition by JetBlue and another 22% on Wednesday. Other analysts didn’t predict bankruptcy or liquidation, but still forecast a difficult course for Spirit trying to make it on its own. It put its operating losses between $158 million to $172 million, down from the $178 million operating loss in the third quarter, and better than forecasts of a $197 million loss. Following $1 billion in losses in 2020 and 2021, the company lost $264 million in the first nine months of 2023.

Persons: Spirit, Cowen, Helane Becker, ” Organizations: New, New York CNN, Spirit Airlines, JetBlue Airways, JetBlue, Airbus, JPMorgan Locations: New York

☆ Premarket stocks: Airline stocks are getting pummeled. Here are four reasons why
▼ + stars: | 2024-01-18 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —It’s been a tough month for shares of airline companies. Here’s why investors are getting out of airline stocks. Boeing’s “can of worms”: Boeing’s problems began on Jan. 5, when the door plug on an Alaska Airlines Boeing 737 Max 9 detached mid-flight. Oil prices are volatile: Investors are also concerned about a possible spike in oil prices. United Airlines Holdings shares have declined 8% so far in January and American Airlines Group shares have fallen 6%.

Persons: New York CNN — It’s, Wells, “, Max, JetBlue’s, Patrick T, Fallon, Brent, Ed Bastian, Antony Blinken, CNN’s Jennifer Hansler, Bryan Mena, Read Organizations: CNN Business, Bell, New York CNN, NYSE, Alaska Airlines Boeing, Max, Boeing, Alaska Airlines, US Federal Aviation Administration, National Transportation Safety, FAA, ”, Spirit Airlines, JetBlue, Spirit, CNN . Spirit Airlines Airbus, JetBlue Airlines Airbus, Los Angeles International Airport, Getty, US Justice Department, Hawaiian Airlines, Hawaiian Holdings, US, . West Texas, Delta Air Lines, Delta, United Airlines Holdings, American Airlines Group, Blinken’s Boeing, Commerce Department Locations: New York, Washington, Boston, AFP, Iran, Yemen, Davos, Zurich, deplane

☆ Analyst: Spirit Airlines could be forced out of business after JetBlue deal is blocked
▼ + stars: | 2024-01-18 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

New York CNN —Spirit Airlines could end up in bankruptcy and be forced out of business because of a federal court decision to block a proposed sale to JetBlue Airways, according to a note from an airline analyst. “We believe Spirit will first look for an alternative buyer, but another airline may get the same pushback [from antitrust regulators. Its fares prompted major airlines to offer a certain number of no-frills “basic economy” seats on their planes. It also prompted concerns that its purchase by JetBlue would lead to higher fares across the industry — concerns which resulted in the Justice Department’s antitrust case that blocked the deal. “While we are disappointed with this [court decision] outcome, we are confident in our strengths and strategy,” said a company statement sent to CNN.

Persons: Helane Becker, Cowen, “, ”, Becker, General Merrick Garland, Pete Buttigieg, ” Buttigieg, Fitch, it’s, William Young Organizations: New, New York CNN — Spirit, JetBlue Airways, JetBlue, Transportation, Refinitiv, JPMorgan Chase, CNN, Airbus, Boeing, lessors, Federal, Spirit Locations: New York, Spirit’s, U.S

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