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United Airlines is asking pilots to take unpaid time off next month, citing late-arriving aircraft from Boeing , according to a note sent to pilots. It's another example of how Boeing's customers say the manufacturer's production problems and safety crisis are impacting their growth plans. The offer comes after United and other airlines in recent years have clamored for more pilots when the Covid-19 pandemic travel slump ended and demand surged. "Due to recent changes to our Boeing deliveries, the remaining 2024 forecast block hours for United have been significantly reduced," the United chapter of the Air Line Pilots Association, the pilots' union, said in a note to members Friday. United was contracted to receive 43 Boeing 737 Max 8 planes and 34 Max 9 models this year, but now expects to receive 37 and 19, respectively, according to a company filing in February.
Persons: Max, Scott Kirby, Boeing didn't, Dave Calhoun Organizations: Boeing, Air Line Pilots Association, United, CNBC, Max, Federal Aviation Administration, Alaska Airlines
Seven people were taken to hospital following a United Airlines flight on Friday. The flight from Tel Aviv to Newark experienced "severe turbulence." It was forced to land at New York Stewart International Airport due to a "passenger medical emergency." AdvertisementSeven people were taken to hospital after a United Airlines flight bound for Newark experienced "severe turbulence" on Friday, officials said. Business Insider has contacted United Airlines and the Federal Aviation Administration (FAA) for comment.
Persons: , United, Michael Bigg, Bigg, Max, Scott Kirby, Kirby Organizations: United Airlines, New York Stewart, Service, Newark, New York Stewart International, Federal Aviation Administration, CNN, Windsor Emergency Medical Service, New, New York International Airport, Newark Liberty International Airport, NBC News, FAA, CBS, Airlines, Alaska Airlines Locations: Tel Aviv, Newark, New, Windsor, New York, United, Israel, Gaza, San Francisco, Paris, Denver
CNN —Moose, a dog that was supposed to be on an outgoing Alaska Airlines flight Tuesday from Raleigh-Durham International Airport, has been reunited with its owner after a “misstep in the cargo loading process,” the airline said. “The dog was scheduled to fly on our flight Tuesday night with its owner, but due to a misstep in the cargo loading process, the dog did not make the trip. “He is safe and sound and had a good breakfast courtesy of one of our K9 officers,” the airport spokesperson said. Alaska Airlines apologized for the mishap and said it’s happy the dog and owner have been reunited. “We’re happy that the dog is safely back with its pet parent,” an Alaska Airlines spokesperson said.
Persons: Moose, it’s, , Organizations: CNN, Alaska Airlines, Durham International Airport, Raleigh Locations: Raleigh, Seattle
In February last year, a new Southwest Airlines Boeing 737 Max plane was on one of its first flights when an automated stabilizing system appeared to malfunction, forcing the pilots to make an emergency landing soon after they took off. Less than two months later, an Alaska Airlines 737 Max plane with eight hours of total flight time was briefly grounded until mechanics resolved a problem with a fire detection system. And in November, an engine on a just-delivered United Airlines 737 Max failed at 37,000 feet. These incidents, which the airlines disclosed to the Federal Aviation Administration, were not widely reported. But since Jan. 5, when a panel on a two-month-old Alaska Airlines 737 Max 9 jet blew off in midair, episodes like these have taken on new resonance, raising further questions about the quality of the planes Boeing is producing.
Persons: Max, , Joe Jacobsen Organizations: Southwest Airlines Boeing, Alaska Airlines, United Airlines, Federal Aviation Administration, Max, Boeing Locations: Alaska
Wells Fargo raised its price target on Bank of America, now calling for more than 15% upside. Evercore ISI hiked its price target on the consumer products company to $150 per share from $133. Power has a $90 price target on the cloud software stock, implying shares can rally 44.5% in the next year. Forbes' $425 price target implies the stock can climb 43.1% from Wednesday's ending price. Analyst Mike Mayo raised his price target for the bank stock by $4 to $44, implying a 16.4% upside over Wednesday's close.
Persons: Wells Fargo, Clark, Javier Escalante, Escalante, KMB, — Jesse Pound, Jefferies, Portillo's, Andy Barish, Barish, — Brian Evans, Jason Gursky, Wednesday's, shakeup, Gursky, Alex Harring, Baird, William Power, — Alex Harring, Steven Forbes, Forbes, RH, BofA, Cintas, Heather Balsky, Balsky, Robinhood, Alex Markgraff, Markgraff, TD Cowen, John Blackledge, Grindr, Blackledge, It's, it's, Estee Lauder, Bryan Spillane, Spillane, Estee, Tom Ford, Joseph Greff, Greff, FanDuel, Vikram Gandhi, Gandhi, Wells, Bank of America Wells, Mike Mayo, Mayo, Goliath Organizations: CNBC, Bank of America, HSBC, Allstate, Kimberly, Staples, ISI, Citi, Boeing, Alaska Airlines, Dow Jones, UC, Guggenheim, RH's, FactSet, Estee Lauder Bank of America, JPMorgan, Allstate Allstate Locations: Portillo's, Five9, Estee, New Jersey, Wednesday's
4 Takeaways About Boeing’s Quality Problems
  + stars: | 2024-03-28 | by ( Niraj Chokshi | Sydney Ember | ) www.nytimes.com   time to read: +1 min
Boeing has faced intense scrutiny and pressure since a panel blew off a 737 Max 9 shortly after the plane, an Alaska Airlines flight, took off on Jan. 5. The episode raised fresh questions about the quality of the planes the company produces several years after two Max 8 planes crashed, killing nearly 350 people. Interviews with more than two dozen current and former employees reveal longstanding concerns about quality, particularly as pressure increased to keep production going in the company’s factories. Now, Boeing faces an immense challenge as it seeks to make changes that improve the quality of its products and regain its credibility with lawmakers, regulators, airlines and the public. Current and former Boeing employees said that for years it felt as if quality took a back seat to keeping planes moving through its factories.
Persons: Max Organizations: Boeing, Alaska Airlines
New York CNN —Since its founding by William Boeing more than a century ago, the Boeing Company has had 12 CEOs. What Boeing wants in its new CEOWhen picking a new CEO, the company likely has two pools of choices. Or it can once again pick a leader like outgoing CEO Calhoun, who has a financial background and an undergraduate degree in accounting. Spirit was the only one to comment, but it did not address the possibility of Shanahan becoming Boeing CEO. Culp has an undergraduate degree in economics and an MBA from Harvard, a business background more than an engineering background.
Persons: William Boeing, Dave Calhoun, Calhoun, , , Sir Tim Clark, ” Calhoun, “ It’s, Richard Aboulafia, Pat Shanahan Pat Shanahan, Donald Trump, Shanahan, “ Mr, Joe Buccino, Larry Culp Larry Culp, Jack Welch, Culp, Aboulafia, Kathy Warden Kathy Warden, Northrop Grumman, Northrop, Warden, ” Aboulafia, Mary Barra, Greg Smith Greg Smith, Smith, Alan Mulally Aboulafia, Alan Mulally, Ford, Mulally, It’s, Ron Epstein, , Stephanie Pope, Brian West, Pope, West, Elizabeth Lund Organizations: New, New York CNN, Boeing Company, Boeing, Alaska Airlines, Emirates Airlines, CNBC, US Department of Defense, CNN, General Electric, GE Aerospace, GE, Danaher Corp, Harvard, Northrop, General Motors, Barra, American Airlines, Ford, Detroit, GM, DaimlerChrysler, Chrysler, of America, Airplanes, GE Aviation, Services, Boeing Commercial Airplanes Locations: New York, American, Calhoun
An aerial photo shows Boeing 737 Max airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, on March 21, 2019. Calhoun told CNBC on Monday that the decision to retire was "100%" his own and that he would be involved in finding his successor. "We need someone to fix Boeing," one major airline executive, who wasn't authorized to speak to the media, told CNBC after Boeing announced the management shake-up Monday. "I want somebody who knows how to handle a big, long-cycled business like ours," Calhoun told CNBC in an interview Monday while announcing his departure. Four-year Boeing board member Steve Mollenkopf, an ex-Qualcomm CEO who will take over as independent chairman of the board, will lead the search.
Persons: Dave Calhoun, Max, Larry Kellner, Stan Deal, Calhoun, wasn't, John Plueger, It's, Steve Mollenkopf, Cowen, Cai von Rumohr, here's Organizations: Boeing, Max, Boeing Factory, Monday, CNBC, Air Force One, Alaska Airlines, Air Lease, Airbus, Financial, Qualcomm Locations: Renton , Washington, China
Boeing CEO Dave Calhoun has resigned and is set to leave at the end of the year. He's not the first leader of the company to leave amid recent safety concerns — and he's likely to do so with a big payout. "I've entered my fifth year," Calhoun told CNBC, referring to his time at Boeing. AdvertisementHow much Calhoun will get after his exit from Boeing will depend on how the aircraft maker's stock price moves. A Boeing spokesperson told Business Insider the company will outline details of Calhoun's compensation in company filings over the "coming weeks."
Persons: Dave Calhoun, Calhoun, Dennis Muilenburg, , He's, I've, Ben Silverman, Fortune, Max Organizations: Service, Boeing, CNBC, Alaska Airlines, Federal Aviation Administration, Department of Justice, National Transportation Safety Board
O'Leary said the company found leftover tools and missing seat handles in new Boeing planes. AdvertisementThe boss of Europe's largest airline told CNN last week that it would regularly find leftover tools under the floorboards of Boeing planes, as well as missing seat handles. "In 2022 and 2023, we were finding little things like spanners under the floorboards, in some cases, seat handles missing, things like that," O'Leary told CNN on March 20. The Ireland-based low-cost carrier only flies Boeing aircraft and is one of the aircraft manufacturers' biggest customers. Related storiesThis isn't the first time O'Leary has said there's a lack of quality control on Boeing planes.
Persons: Michael O'Leary, O'Leary, , David Calhoun Organizations: Boeing, Ryanair, Service, CNN, Europe's, Alaska Airlines Locations: Dublin, Ireland, Seattle
BA YTD mountain Boeing stock has slumped more than 26% from the start of the year after the Alaska Airlines 737 Max controversy. Stifel The firm has a buy rating on Boeing stock with a $270 per share price target, or 41% upside from Monday's close. TD Cowen TD Cowen has a buy rating on Boeing stock with a $230 per share price target, or 20% above Monday's close. JPMorgan maintains an overweight rating on Boeing with a $230 per share price target, or about 20% above Monday's close. JPMorgan maintains an overweight rating on Boeing stock with a $230 per share price target, or about 20% moving forward.
Persons: shakeup, Max, David Calhoun, Calhoun isn't, Larry Kellner, Stan Deal, Stephanie Pope, Pope, Calhoun, Bert Subin, Max —, Bank of America Bank of America's Ronald Epstein, TD Cowen TD Cowen, TD Cowen, Cai von Rumohr, Dave Calhoun, Morgan Stanley Morgan Stanley's Kristine Liwag, David Calhoun's, Wolfe, Wolfe Research Wolfe, Myles Walton, Seth Seifman, Seth M, Seifman Organizations: Alaska Airlines, Boeing, Bank of America Bank of America's, Wolfe Research, JPMorgan, FAA, Federal Aviation Administration Locations: Calhoun, Alaska
About 90%, or $1.1 trillion, of that profit went to shareholders through stock buybacks and dividend payments, according to new research from anti-poverty organization Oxfam International. At the same time, the study found, only 10 of those 200 companies have made public statements in support of paying a living wage. For some of those companies, the average CEO-to-worker pay ratio is now above 1,500 to 1, the nonprofit confederation found. Oxfam’s study found that on average, pharmaceutical companies paid just 11.6% in taxes in 2022 (that’s down from 11.8% in 2021). Trump Media generated just $3.4 million of revenue through the first nine months of last year, according to SEC filings.
Persons: , we’ll, , Irit Tamir, Joe Biden, Donald Trump, Matt Egan, Devin Nunes, Dave Calhoun, Chris Isidore, Calhoun, Max Organizations: CNN Business, Bell, New York CNN, CME, Oxfam International, Oxfam, Corporations, Institute for Policy Studies, Tax, Truth Social, Trump Media, Trump Media & Technology Group, Corp, Digital, Trump, Nasdaq, Big Tech, , overvaluing Trump Media, SEC, Twitter, CNN, Boeing, CNBC, Alaska Airlines, Max Locations: New York, United States
Using options to bet on a Boeing turnaround
  + stars: | 2024-03-26 | by ( Nishant Pant | ) www.cnbc.com   time to read: +3 min
The shake-up at Boeing this week with the CEO set to step down by year-end has sparked optimism among investors. Boeing (BA) has faced significant challenges over the years with the latest incident involving a door plug on an Alaska Airlines 737 Max 9 in January. When the RSI falls below 30, it indicates that the underlying asset, in this case, BA stock, is in an oversold condition. The trade To go bullish on BA, the trade structure I have used here is called a bull call spread. You may find trading platforms using other names like call debit spread or long call spread.
Persons: Nishant Organizations: Boeing, Alaska Airlines
Boeing announced that Dave Calhoun is stepping down as CEO at the end of this year. AdvertisementDave Calhoun plans to resign as Boeing's CEO at the end of this year, the company announced Monday. In December 2019, former Boeing CEO Dennis Muilenburg was fired after two crashes involving a different Max variant, the Max 8, killed 346 people in 2018 and 2019. Advertisement"As you all know, the Alaska Airlines Flight 1282 accident was a watershed moment for Boeing," Calhoun said in a memo to employees announcing the change. The CEO told CNBC that he would weigh in on who becomes the next CEO, but he said the board will ultimately make the decision.
Persons: Dave Calhoun, Calhoun, , I've, Dennis Muilenburg, Max, Stephanie Pope, Stan Deal, Larry Kellner Organizations: Boeing, Service, CNBC, Alaska Airlines, Federal Aviation Administration, Department of Justice, National Transportation Safety, Boeing Commercial Airplanes
New York CNN —Boeing CEO Dave Calhoun said Monday he intends to leave the beleaguered company by the end of the year in a major shakeup of the company’s leadership. The company also announced that Stan Deal, CEO of Boeing Commercial Airplanes, is retiring. The problems have led to multiple groundings for safety issues and more than $31 billion in cumulative losses. But it comes in the face of widespread criticism of the company by CEOs of many of the world’s major airlines Boeing depends upon to buy its planes. Any Boeing customer shifting to Airbus could find itself waiting until 2030 or beyond to get its planes delivered.
Persons: Dave Calhoun, Larry Kellner, Steve Mollenkopf, Stan Deal, Stephanie Pope, Max, Calhoun, , Let’s, “ I’ve, Boeing won’t, Michael O’Leary, O’Leary, Scott Kirby, Ben Minicucci, Dennis Muilenburg, Muilenburg, Calhoun’s Organizations: New, New York CNN, Boeing, Qualcomm, Alaska Airlines, Max, CNBC, Alaska Air, ” Airlines, Ryanair, Europe’s, CNN, , ” United Airlines, United, Airbus, Virgin America Locations: New York, Alaska, ” United
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
Boeing shares rose about 0.4%. Masimo shares rose more than 3%. Tesla , Rivian : Analysts at Mizuho Securities downgraded a host of electric vehicle makers, including Tesla and Rivian, on concerns about slowing demand for battery-powered automobiles. Shares rose about 1.5%. Cleveland-Cliffs had been a "bad company," Cramer said, "but they've gotten disciplined and they've figured it out."
Persons: Jim Cramer's, Dave Calhoun, Jim Cramer, Larry Culp, Calhoun, Larry, Cramer, Tesla, They're, they're Organizations: CNBC, Club, Boeing, Airplanes, Alaska Airlines, Intel, AMD, Financial Times, Mizuho Securities, Ford, U.S . Department of Energy, U.S . Steel Locations: Alaska, China, Beijing, Germany, Cleveland, Ohio, Pennsylvania, U.S . Steel . Cleveland
Boeing announced Monday that its chief executive, David Calhoun, would step down at the end of 2024 as part of a broad management shake-up, as the aircraft maker grapples with its most significant safety crisis in years. Boeing also announced that its chairman, Larry Kellner, would not stand for re-election. The board elected Steve Mollenkopf, an electrical engineer by training and the former chief executive of Qualcomm, as its new chairman. In that role, he will lead the process of choosing Boeing’s next chief executive. The management overhaul comes less than three months after a panel, known as a door plug, blew off a Boeing Max 9 during an Alaska Airlines flight on Jan. 5.
Persons: David Calhoun, Stan Deal, Stephanie Pope, Larry Kellner, Steve Mollenkopf, Boeing’s Organizations: Boeing, Qualcomm, Boeing Max, Alaska Airlines
737 Max 9 blowoutA gaping hole where the paneled-over door had been on Alaska Airlines Flight 1282. NTSB/APIn January, a Max 9 door plug blew out on an Alaska Airlines flight that took off from Portland, Oregon. Boeing's CEO, Dave Calhoun, hosted an all-hands meeting with employees shortly after the incident. "We're going to approach this, number one, acknowledging our mistake," Calhoun said at a 737 Max factory in Washington, according to multiple media outlets. Less than two weeks before that episode, Boeing had asked airlines to inspect all its 737 Max planes for loose bolts.
Persons: Max, Dave Calhoun, Calhoun, he's, Organizations: Max, Alaska Airlines, AP, Regulators, United Airlines, Federal Aviation Administration, Boeing's, Boeing Locations: Portland , Oregon, Alaska, United, Washington
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,
Goldman Sachs, meanwhile trimmed its price target on Boeing, citing several risks amid the company's ongoing safety issues. The analyst initiated coverage of the stock with an overweight rating and year-end price target of $1,150, which implies shares could jump 18.2%. Analyst Kannan Venkateshwar upgraded shares of the media giant to overweight from equal weight and also raised his price target by $40. His new $135 price target implies 16.5% potential upside over the next year. — Pia Singh 5:37 a.m.: Goldman Sachs trims Boeing price target Goldman Sachs lowered its price target on Boeing to $257 from $268 amid the airplane maker's ongoing issues safety issues.
Persons: Goldman Sachs, JPMorgan's Samik Chatterjee, inferencing, Chatterjee, — Pia Singh, Kannan Venkateshwar, Venkateshwar, Disney's, Noah Poponak, Poponak, Fred Imbert Organizations: CNBC, Disney, Barclays, Boeing, JPMorgan, Computer, Enterprises, Alaska Airlines Locations: 3Q24, 4Q24
Boeing CEO Dave Calhoun speaks to reporters as he departs from a meeting at the office of Sen. Mark Warner (D-VA) on Capitol Hill January 24, 2024 in Washington, DC. Boeing CEO Dave Calhoun will step down at the end of 2024 in part of a broad management shakeup for the embattled aerospace giant. Chairman of the board Larry Kellner is also resigning and will leave the board at Boeing's annual meeting in May. And Stan Deal, president and CEO of Boeing Commercial Airplanes, is leaving the company effective immediately. Scrutiny intensified after a Jan. 5 accident, when a door plug blew out of a nearly new Boeing 737 Max 9, minutes into an Alaska Airlines flight.
Persons: Dave Calhoun, Sen, Mark Warner, Larry Kellner, Steve Mollenkopf, Stan Deal, Stephanie Pope, Kellner, Calhoun, Dennis Muilenburg Organizations: Capitol, Boeing, Boeing Global Services, Alaska Airlines Locations: Washington , DC
Flying is getting scary. But is it still safe?
  + stars: | 2024-03-24 | by ( Chris Isidore | ) edition.cnn.com   time to read: +9 min
Another Boeing jet plunged so severely that passengers were thrown onto the ceiling of the cabin, leaving dozens so injured they need to be hospitalized upon landing. Carlos Avila Gonzalez/The San Francisco Chronicle/Getty Images/FileHowever, other forms of flying are not nearly as safe. “Taking the Max out of the equation, (flying has) been proven to be pretty darn safe,” he said. A year ago, the discussion about air safety wasn’t focused on Boeing planes. “The gold standard is melting down, because we continue to try to downplay everything and talk about how safe the system is.
Persons: Kardashian, , Anthony Brickhouse, , it’s, Carlos Avila Gonzalez, Ed Pierson, Max, Pierson, ” Brickhouse, We’ve, That’s, Brickhouse Organizations: New, New York CNN, Alaska Airlines, Boeing, Japanese Coast Guard, Embry, Riddle Aeronautical University, Asiana Airlines, San Francisco International, San Francisco Chronicle, Railroads, Amtrak, Foundation for Aviation Safety, Max, Alaska Air, National Transportation Safety Board, FedEx, an Air Canada, San Francisco International Airport, NTSB, Air Canada, “ Pilots Locations: New York, Tokyo, Buffalo , New York, United States, San Francisco, Southwest, Alaska, , Hawaii
“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
Passengers aboard an Alaska Airlines plane that made an emergency landing after a fuselage panel blew off this year have started to receive letters from the F.B.I. identifying them as possible victims of a crime. The letters are a sign that a criminal investigation the Justice Department has opened into Boeing, the manufacturer of the 737 Max 9 jet, is ramping up. “As a victim specialist with the Seattle division, I’m contacting you because we have identified you as a possible victim of a crime,” reads the letter from the F.B.I.’s Seattle office, a copy of which was obtained by The New York Times. The letter says the incident is under criminal F.B.I.
Organizations: Alaska Airlines, Department, Boeing, Seattle, The New York Times, National Transportation Safety Locations: Alaska, , Seattle, Portland
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