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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInside Denver International Airport — United Airlines' fastest-growing hubWhile airline stocks have not recovered to pre-pandemic levels, passengers have returned in record-breaking numbers. The year 2023 was Denver International Airport's busiest on record, with an estimated 78 million passengers. United Airlines is Denver's biggest operator. It recently invested nearly $1 billion in Denver to add more gates, flights and destinations, and opened the largest lounge in its network. The airline wants to grow to 650 flights a day before 2030.

Organizations: Airport, United Airlines, Denver International, CNBC, Denver Locations: Denver

☆ 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

☆ JetBlue and Spirit appeal judge's ruling that blocks their proposed merger
▼ + stars: | 2024-01-19 | by ( Leslie Josephs | ) www.cnbc.com time to read: 1 min

Spirit and JetBlue planes at Fort Lauderdale-Hollywood International Airport (FLL) in Fort Lauderdale, Florida, US, on Wednesday, Nov. 1, 2023. JetBlue Airways and Spirit Airlines on Friday said they are appealing a federal judge's ruling issued earlier this week that blocks the two carriers' planned merger on antitrust grounds. JetBlue had planned to buy Spirit for $3.8 billion in a deal struck in the summer of 2022. A federal judge on Tuesday, however, barred that combination, saying it would eliminate the budget carrier and mean higher prices for cost-conscious consumers. Spirit shares extended gains posted during the regular session on Friday, rising more than 10% in after-hours trading, while JetBlue's were little changed.

Persons: JetBlue's Organizations: JetBlue, Hollywood International, JetBlue Airways, Spirit Airlines Locations: Fort Lauderdale, Fort Lauderdale , Florida

☆ Why the JetBlue-Spirit antitrust ruling doesn't spell doom for an Alaska-Hawaiian merger
▼ + stars: | 2024-01-19 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Alaska and Hawaiian Airlines planes takeoff at the same time from San Francisco International Airport (SFO) in San Francisco, California, United States on June 21, 2023. President Joe Biden's Justice Department has successfully had two airline link-ups halted in court in recent months. That doesn't necessarily spell doom for Alaska Air's plan to buy Hawaiian Airlines . The decision immediately sparked questions of whether an Alaska-Hawaiian combination would suffer a similar fate in an antitrust lawsuit. The Justice Department didn't immediately respond to a request for comment about whether it plans to challenge Alaska and Hawaiian's proposed deal.

Persons: Joe Biden's, William Young, Michael Linenberg, Department didn't, Hawaiian's, Herbert Hovenkamp Organizations: Hawaiian Airlines, San Francisco International Airport, Department, Hawaiian Airlines . U.S, Justice Department, JetBlue Airways, Spirit Airlines, Deutsche Bank, JetBlue, University of Pennsylvania's Carey Law School, Spirit Locations: Alaska, San Francisco , California, United States, Hawaiian Airlines ., Hawaii

☆ JetBlue to cut some routes as it pushes for profitability
▼ + stars: | 2024-01-19 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

JetBlue Airways told staff this week that it will cut some routes and service as it struggles to return to profitability and grapples with the fallout of its blocked plan to buy Spirit Airlines . The airline is instead focusing on leisure routes, adding service throughout the Caribbean and to Paris, the memo said. "We constantly adjust our network to support our strategy and these recent changes are a necessary quick step to help return our business to profitability," JetBlue said. "All the routes included have recently underperformed our expectations and these changes come as post-COVID travel patterns continue to evolve." JetBlue ranked 9th in on-time arrivals among U.S. airlines in the first 10 months of 2023, according to the Transportation Department.

Persons: John F, Dave Jehn, Jehn, William Young's Organizations: JetBlue Airways, Spirit Airlines, JetBlue, Kennedy, CNBC, Washington International Thurgood Marshall Airport, Washington D.C, Transportation Department, CNBC PRO Locations: New, Portland , Oregon, San Jose , California, Westchester , New York, New York, Ponce , Puerto Rico, Milwaukee , Wisconsin, Caribbean, Paris, Baltimore, Washington

☆ Failed JetBlue takeover could force Spirit to slash fares, restructure as carrier grasps for a path
▼ + stars: | 2024-01-17 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Spirit Airlines is on shaky footing after JetBlue Airways ' proposed $3.8 billion takeover of the budget carrier was blocked by a federal judge this week. Industry-watchers say the carrier could be forced to cut its already low fares even more. Some Wall Street analysts argue the discount carrier could have to restructure, if not liquidate. A potential bankruptcy could force the airline, known for its low fares and fees for everything else like seat selection and cabin baggage, to slash fares even more. "We may see some shocking prices on major Spirit routes as the carrier tries to bring as much cash in the door as possible," Becker wrote.

Persons: Helane Becker, Cowen, Becker Organizations: JetBlue Airways, Industry, Pratt & Whitney

☆ Judge blocks JetBlue-Spirit merger after DOJ's antitrust challenge
▼ + stars: | 2024-01-16 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

LaGuardia International Airport Terminal A for JetBlue and Spirit Airlines in New York. A federal judge blocked JetBlue Airways ' purchase of budget rival Spirit Airlines after the Justice Department sued to stop the merger, alleging it would drive up fares for some of the most price-sensitive consumers. "JetBlue plans to convert Spirit's planes to the JetBlue layout and charge JetBlue's higher average fares to its customers," U.S. District Court Judge William Young wrote in his decision. "The elimination of Spirit would harm cost-conscious travelers who rely on Spirit's low fares." Spirit shares plunged after the ruling and were down more than 50%, while JetBlue's stock gained about 5%.

Persons: JetBlue's, William Young Organizations: LaGuardia, JetBlue, Spirit Airlines, JetBlue Airways, Justice Department, DOJ Locations: New York, Delta, U.S

☆ Please stop ignoring your flight attendants
▼ + stars: | 2024-01-14 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

A display showing the 'fasten your seatbelt' sign and the 'no smoking' sign illuminated on board an aircraft. Never mind that flight attendants have begun their pre-flight safety demonstration, or that a video has begun to play informing you of the procedures in case of an emergency. No one was seriously injured on the flight, which returned to Portland, Oregon. Both near-catastrophes underscore the importance of travelers paying attention to flight attendant safety information and instructions — before and during an accident. Everyone from passengers to onlookers to aviation executives have commended the crews of those Japan Airlines and Alaska Airlines flights for shepherding passengers through safely.

Persons: you've, Sara Nelson Organizations: Association of Flight, CWA, Japan Airlines Airbus, Alaska Airlines Boeing, Max, Japan Airlines, Alaska Airlines Locations: United , Alaska, Frontier, Portland , Oregon

☆ Delta more than doubles fourth-quarter profit, but trims 2024 earnings forecast
▼ + stars: | 2024-01-12 | by ( Leslie Josephs | ) www.cnbc.com time to read: +4 min

Delta Air Lines closed out the year by doubling its quarterly profit as travel demand, particularly for international trips, helped drive record revenue in 2023. Delta on Friday forecast adjusted earnings per share of between $6 and $7 for 2024, below the more than $7 a share the carrier predicted last year. Delta posted adjusted earnings of $6.25 a share in 2023. Stripping out one-time items, Delta posted adjusted revenue of $13.66 billion, slightly ahead of LSEG estimates. Adjusted earnings per share of $1.28 topped analysts' estimates for $1.17 a share in the fourth quarter.

Persons: Ed Bastian, Bastian, Delta, Glen Hauenstein, haven't, Hauenstein, Max Organizations: Delta Air Lines, Delta, CNBC, Airlines, LSEG, Aircraft, Boeing, Alaska Airlines, Federal Aviation Administration, United Airlines, FAA, Airbus, CNBC PRO Locations: U.S, Detroit, Los Angeles, Seattle, Alaska

☆ FAA says it will audit Boeing's production line after 737 Max 9 accident
▼ + stars: | 2024-01-12 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

The Federal Aviation Administration on Friday said it will audit Boeing 's production line, a week after a door plug blew off an Alaska Airlines 737 Max 9. The FAA grounded more than 170 Boeing 737 Max 9s, most of the world's fleet, after that incident. The agency said the audit applies to Boeing's production line for that plane model and its suppliers "to evaluate Boeing's compliance with its approved quality procedures." The FAA said it will also evaluate risks around Boeing's ability to self-monitor quality control and other aspects of airplane production. Still, the incident ramps up scrutiny on Boeing's quality problems and on regulators that oversee the industry.

Persons: Mike Whitaker, Dave Calhoun Organizations: Federal Aviation Administration, Boeing, Alaska Airlines, FAA, Max, CNBC PRO

☆ ‘Every detail matters’: Boeing CEO admits mistake as investigators probe midair panel blowout
▼ + stars: | 2024-01-09 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

The Federal Aviation Administration grounded the 737 Max 9s less than a day after the incident on Alaska Airlines Flight 1282 so the jets could be inspected. Alaska on Wednesday said it would cancel all flights that were scheduled to use a 737 Max 9 through Saturday, amounting to 110 to 150 flights per day, while the inspections take place. No one was seated in 26A on the flight, which was next to the panel that blew out, saving passengers from a possible tragedy. "We're not going to point fingers there, because yes it escaped their factory, but then it escaped ours too," Calhoun told CNBC's Phil LeBeau on Wednesday. Alaska Airlines and United Airlines , the two largest operators of the 737 Max 9, said on Monday that they have each already found loose parts on the same area of other Max 9s that underwent review.

Persons: Dave Calhoun, Max, Calhoun, I've, Aerosystems, We're, CNBC's Phil LeBeau Organizations: Alaska Airlines, Federal Aviation Administration, Boeing, . Alaska Airlines, United Airlines Locations: Alaska

☆ American Airlines' frequent flyer program is changing. Here’s what you need to know
▼ + stars: | 2024-01-09 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

Elite status on airlines rewards big spenders with perks like complimentary upgrades and free checked bags. First things first: American Airlines isn't changing the requirements to earn elite status at the airline in the coming earning year. Loyalty programs were a lifeline for airlines during the Covid pandemic when travel slowed to a trickle. Carriers have been grappling with a surge in elite travelers, repeatedly increasing the requirements to earn status, and tweaking benefits. For customers striving for elite status, the airline will give them bonus loyalty points after they've earned 15,000.

Persons: Ronald Reagan, Scott Chandler, American's, they've Organizations: American Airlines Airbus, Ronald Reagan Washington National Airport, American Airlines, Admirals Club, Delta Air Lines, United, Delta Locations: Ronald Reagan Washington, Arlington , Virginia, American

An Alaska Airlines Boeing 737 Max 9 aircraft is grounded at Los Angeles International Airport in California on Jan. 8, 2024. The FAA grounded dozens of the jets following that Alaska Airlines incident, and Boeing on Monday issued instructions for inspecting the jets, which were approved by the FAA. Upon receiving the revised version of instructions from Boeing the FAA will conduct a thorough review," the FAA said in a statement Tuesday. "Every Boeing 737-9 Max with a plug door will remain grounded until the FAA finds each can safely return to operation," the agency said. "The safety of the flying public, not speed, will determine the timeline for returning the Boeing 737-9 Max to service."

Persons: Max Organizations: Alaska Airlines Boeing, Max, Los Angeles International, Aircraft, Boeing, Alaska Airlines, United Airlines, Federal Aviation Administration, FAA, National Transportation Safety Board, NTSB, CNBC PRO Locations: California, Alaska, Washington, Oregon

☆ United, Alaska Air find loose hardware on some Boeing 737 Max 9s after grounding
▼ + stars: | 2024-01-08 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

United Airlines said Monday that it has found loose bolts on door plugs of several Boeing 737 Max 9 planes during inspections spurred when a panel of that type blew out during an Alaska Airlines flight using that type of aircraft last week. Alaska Airlines later Monday said its initial inspections of the jets had turned up "loose hardware" and that, "No aircraft will be returned to service" until formal reviews are complete. The Federal Aviation Administration on Saturday grounded dozens of 737 Max 9s after the panel blew out midflight on Alaska Flight 1282. Plane manufacturer Boeing said earlier Monday it issued instructions to airlines to conduct the inspections of the Max 9s in their fleets. The 737 Max is Boeing's best-selling aircraft, with more than 4,000 orders to fill.

Persons: Max, Dave Calhoun, Calhoun Organizations: Airlines, Boeing, Max, Alaska Airlines, FAA, Federal Aviation Administration, Tech Ops, National Transportation Safety, CNBC PRO Locations: midflight, Alaska

☆ Boeing issues 737 Max 9 inspection instructions, a key step toward resuming flights
▼ + stars: | 2024-01-08 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Boeing has given airlines instructions on how to inspect their 737 Max 9 jetliners, a step toward ending the grounding of the planes, according to an internal message from company executives. The Federal Aviation Administration ordered airlines to stop flying dozens of the jets over the weekend, less than a day after a door plug blew open during an Alaska Airlines flight as it was at 16,000 feet. No one was seriously injured in the accident during Alaska Airlines Flight 1282, which was bound for Ontario, California, when the door plug blew, forcing it to return to Portland, Oregon, minutes into the flight. "Our teams have been working diligently – with thorough FAA review – to provide comprehensive, technical instructions to operators for the required inspections. United Airlines has a fleet of 79 737 Max 9s and Alaska Airlines has 65.

Persons: jetliners, Stan Deal, Mike Delaney, Max Organizations: Alaska Airlines Flight, Boeing, National Transportation Safety Board, Federal Aviation Administration, Alaska Airlines, Max, United Airlines, CNBC PRO Locations: Alaska, Portland , Oregon, U.S, Ontario , California

☆ What travelers need to know about the Boeing 737 Max 9 grounding
▼ + stars: | 2024-01-08 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Ntsb | Via ReutersAirlines have canceled hundreds of flights since the Federal Aviation Administration ordered carriers to take Boeing 737 Max 9 planes out of service for urgent inspections. The FAA grounded more than 170 Boeing 737 Max 9 planes so they can be inspected after a door plug panel blew out on Alaska Airlines Flight 1282 on Friday. United Airlines and Alaska Airlines are the biggest operators of the Boeing 737 Max 9, with 79 and 65 of the planes in their fleets, respectively. United canceled 229 mainline flights on Monday, representing about 8% of its schedule, according to FlightAware. The more common Boeing 737 Max 8 plane is not affected.

Persons: Aeromexico, it's, United Organizations: Alaska Airlines Flight, Boeing, National Transportation Safety, Ntsb, Via Reuters Airlines, Federal Aviation Administration, Max, FAA, Alaska Airlines, United Airlines, United, Copa Locations: Alaska, Portland , Oregon, Ontario , California

Robin Hayes, CEO of JetBlue Airways, speaks to guests following the airline's inaugural flight from John F. Kennedy Airport in New York to London Heathrow Airport in London on Aug. 12, 2021. JetBlue CEO Robin Hayes will step down next month, the company said Monday. The airline's chief operating officer, Joanna Geraghty, will take the helm. Hayes, a more than three-decade airline industry veteran, cited the high-pressure nature of the job in announcing his resignation via a company statement. "It's bittersweet to retire from this airline I love, but I will always feel a part of the JetBlue team and be rooting for its continued success," Hayes said.

Persons: Robin Hayes, John F, Joanna Geraghty, Hayes, Geraghty Organizations: JetBlue Airways, Kennedy, London Heathrow Airport, JetBlue, Spirit Airlines, U.S . Department of Justice Locations: New York, London, Delta, Boston

☆ Boeing's latest 737 Max failure narrowly avoided tragedy — but it won't avoid scrutiny
▼ + stars: | 2024-01-07 | by ( Leslie Josephs | ) www.cnbc.com time to read: +7 min

The 737 Max 9 flown by Alaska Airlines on Friday was delivered less than three months ago. United Airlines and Alaska Airlines, the largest operators of the 737 Max 9, on Saturday said they suspended flights with those planes, forcing the carriers to cancel more than 400 flights. Boeing's leadership has spent roughly five years regrouping after the 2018 and 2019 fatal crashes of its smaller and more popular Boeing 737 Max 8, which prompted a worldwide grounding of both the Max 8 and Max 9, the two types flying commercially. According to Jefferies, the 737 Max 9 represents just 2% of Boeing's backlog of more than 4,500 Max planes. Richard Aboulafia, managing director at aviation consulting firm Aerodynamic Advisory, said the problem on the Alaska Airlines plane appears to be a manufacturing defect, not an inherent design flaw.

Persons: Jason Redmond, Max, Jim Hall, I've, we've, Dave Calhoun, Calhoun, he's, Jennifer Homendy, Aerosystems, John Goglia, Jefferies, Richard Aboulafia Organizations: Reuters Boeing, Alaska Airlines, Federal Aviation Administration, FAA, National Transportation Safety Board, Boeing, United Airlines, Regulators, Airbus, hasn't, Wall Street, NTSB Locations: Renton , Washington, Portland , Oregon, Ontario , California, Portland, United, Alaska

☆ Earnings playbook: Your guide to the biggest reports this week, including JPMorgan
▼ + stars: | 2024-01-07 | by ( Fred Imbert | ) www.cnbc.com time to read: +6 min

Friday UnitedHealth is set to report earnings before the bell, with a conference call scheduled for 8:45 a.m. JPMorgan Chase is set to report earnings before the market opens. Management has said it will disclose severance costs and job cuts along with fourth quarter earnings." Delta Air Lines is set to report earnings before the bell, followed by a call at 10 a.m. What history shows: Bank of America beats earnings estimates 79% of the time, per Bespoke.

Persons: Wells, John Butters, Butters, UNH, UnitedHealth, CVS, JPMorgan Chase, Hugh Son, Jane, DAL, Leslie Josephs Organizations: JPMorgan Chase, Citigroup, Bank of America, Delta Airlines, CNBC, LSEG, JPMorgan, First, Management, Delta Air Lines, CNBC CNBC, Delta Locations: Wells Fargo

☆ FAA grounds more than 170 Boeing 737 Max 9s after section of Alaska Airlines plane blows out
▼ + stars: | 2024-01-06 | by ( Leslie Josephs | ) www.cnbc.com time to read: +4 min

Alaska and United Airlines said late Saturday that they were grounding their entire fleets of Boeing 737 Max 9s. "Safety will continue to drive our decision-making as we assist the NTSB's investigation into Alaska Airlines Flight 1282," FAA Administrator Mike Whitaker said in a statement. The FAA has heavily scrutinized the Boeing 737 Max since two fatal crashes grounded the jetliner worldwide almost five years ago. The section of the fuselage missing appeared to correspond to an exit not used by Alaska Airlines, or other carriers that don't have high-density seating configurations, and was plugged. Before the FAA issued its directive, Alaska Airlines earlier said it would ground its fleet of Boeing 737 Max 9 planes.

Persons: depressurization, Mike Whitaker, Max, Jennifer Homendy, Homendy, Sara Nelson, Anthony Brickhouse, Brickhouse Organizations: Alaska Airlines, Federal Aviation Administration, Boeing, Max, United Airlines, Alaska Air, FAA, National Transportation, Association of Flight, CWA, United, Embry, Riddle Aeronautical University Locations: Ontario, California, Portland , Oregon, U.S, Portland, Ontario , California, Alaska

☆ Alaska Airlines grounds Boeing 737 Max 9 fleet after section blows out midair
▼ + stars: | 2024-01-06 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

An Alaska Airlines plane takes off from Los Angeles International Airport (LAX) on December 4, 2023 in Los Angeles, California. Alaska Airlines will temporarily ground its fleet of 65 Boeing 737 Max 9 planes after a section of the plane blew out midflight on Friday, forcing the crew to make an emergency landing. "Each aircraft will be returned to service only after completion of full maintenance and safety inspections," CEO Ben Minicucci said. Images and video of the new Boeing 737 Max 9 shared on social media showed a gaping hole on the side of the plane and passengers using oxygen masks. "While this type of occurrence is rare, our flight crew was trained and prepared to safely manage the situation," Alaska said.

Persons: Ben Minicucci, Pete Buttigieg Organizations: Alaska Airlines, Los Angeles International Airport, Los Angeles , California . Alaska Airlines, Boeing, Max, The National Transportation Safety, Federal Aviation Administration, Transportation, FAA Locations: Alaska, Los Angeles , California, Ontario , California, Portland , Oregon, Portland

☆ From FedEx to airlines, companies are starting to lose their pricing power
▼ + stars: | 2023-12-29 | by ( Leslie Josephs | ) www.cnbc.com time to read: +5 min

Andrew Kelly | ReutersAfter years of unbridled consumer spending on everything from home improvement to dream vacations, some companies are now finding the limits of their pricing power. Nike last week lowered its annual sales growth forecast and unveiled plans to cut costs by $2 billion over the next three years. "Goods companies don't have the pricing power they did in the pandemic, and some in the hotel and travel [industries] — they don't have the pricing power they did in the immediate post-Covid," he added. Sales growth for companies in the S&P 500 is on track to average 2.7% this year, according to mid-December analyst estimates posted by FactSet. Consumer spending on apparel and groceries rose 2.4% and 2.1%, respectively, from the year-earlier period, according to the survey.

Persons: Andrew Kelly, Mills, Joe Cavaretta, David Kelly, FactSet, Kelly, isn't, airfare, John F, Bob Jordan, Jordan, Ohsung Kwon Organizations: FedEx, Reuters, Shipping, Airlines, Target, Nike, Spirit Airlines, Hasbro, Fort Lauderdale Hollywood International, South Florida Sun Sentinel, Tribune, Service, Getty, Florida Sun, Morgan Asset Management, FactSet, Mastercard, Starbucks, Airline, U.S . Department of Labor, Kennedy International, Southwest, CNBC, Detroit automakers, Toyota, Cox Automotive, Bank of America Locations: New York, speedier, Fort, South

☆ Boeing urges inspections of 737 Max planes for 'possible loose bolt'
▼ + stars: | 2023-12-28 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

The Boeing 737 MAX aircraft is displayed at the Farnborough International Airshow, in Farnborough, Britain, July 20, 2022. Boeing is urging airlines to inspect 737 Max planes to look for a "possible loose bolt" in the rudder control system, the latest quality issue to affect the manufacturer's bestselling jetliner. The inspections will take about two hours per plane, and all new 737 Maxes will undergo the check before they're handed over to customers, Boeing said. "Out of an abundance of caution, we are recommending operators inspect their 737 MAX airplanes and inform us of any findings. A spokeswoman for United Airlines , one of the biggest 737 Max customers, said the carrier doesn't expect any impact to its operations as a result of the issue.

Organizations: Boeing, Farnborough, Federal Aviation Administration, Alaska Airlines, United Airlines, Max, American Airlines, CNBC PRO Locations: Farnborough, Britain

☆ Boeing hands over first 787 Dreamliner to China since 2019
▼ + stars: | 2023-12-21 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

The Boeing 787 Dreamliner sits on the tarmac at Boeing Field in Seattle, Washington. Boeing on Thursday handed over a 787 Dreamliner directly to a Chinese airline for the first time since November 2019, a milestone that could open up the possibility of deliveries of the manufacturer's cash cow, the 737 Max. The Boeing 787-9 for privately owned Juneyao Airlines departed from outside of Boeing's Everett, Washington, factory for Shanghai, Boeing said Thursday. The last new delivery of a new Boeing 787 to a Chinese airline was in 2021 through a leasing company. Boeing sent the aircraft as China's pause on scores of pending deliveries of the Boeing 737 Max, the company's bestselling jet, nears its fifth year.

Persons: Max Organizations: Boeing, Boeing Field, Juneyao Airlines, Max, Jefferies, CNBC PRO Locations: Seattle , Washington, Boeing's Everett, Washington, Shanghai, China, U.S

☆ FedEx shares tumble 12% after weaker demand hit revenue outlook
▼ + stars: | 2023-12-19 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

FedEx shares fell 12% Wednesday morning after the package delivery giant cut its revenue forecast as weaker demand hit sales. The company said it expects a low-single-digit decline in revenue for the fiscal year, down from a previous forecast for flat sales year over year. Analysts had expected a revenue drop of less than 1% in the current fiscal year, according to LSEG, formerly known as Refinitiv. The company's Express unit, its largest, was especially challenged in the quarter with lower demand, surcharges and customers shifting to cheaper services, FedEx said. Correction: Revenue was $22.17 billion versus $22.41 billion expected.

Persons: Raj Subramaniam Organizations: FedEx, Analysts, company's, LSEG Revenue, Revenue

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