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☆ Boeing scores rare sales win over Airbus, despite ongoing safety issues
▼ + stars: | 2024-08-13 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

The embattled aircraft maker reported it took in gross orders for 72 new planes in July, compared to the 59 reported by Airbus. And many were tied to the Farnborough Air Show in July, which is the site of many commercial jet sales. The July orders brought full-year gross orders to only 228 commercial jets. Subtracting canceled orders, Boeing had only 186 net orders in the first seven months of the year. Airbus has delivered 400 jets through the first seven months of this year.

Persons: doesn’t Organizations: New, New York CNN, Boeing, Airbus, Farnborough Air, Alaska Airlines, Federal Aviation Administration Locations: New York

☆ Boeing’s embattled CEO is poised to walk away with millions
▼ + stars: | 2024-03-26 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

Exactly how much Calhoun will receive isn’t clear yet, as it depends on how Boeing’s stock performs. According to Boeing’s most recent proxy statement, Calhoun is set to walk away with about $15 million worth of stock, cash and options in retirement. One estimate, according to Fortune, suggests Calhoun could walk away with $24 million, with the potential to collect $45.5 million more if Boeing’s stock goes up 37%. And while Muilenburg was denied severance pay, he still walked away with $80 million worth of stock and other assets. Even as the board heaped praise on Calhoun, Boeing’s own customers started sounding off about their frustrations with the leadership.

Persons: CNN Business ’, Dave Calhoun, he’ll, There’s, Calhoun, Dennis Muilenburg, Muilenburg, “, CNN’s Chris Isidore Organizations: CNN Business, New York CNN, Boeing, Ryanair, Avalon Locations: New York, America, Calhoun, Washington, South Carolina, Seattle

☆ These smaller stocks could see big gains in 2024, Bank of America says
▼ + stars: | 2024-01-30 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +5 min

Against this backdrop, Bank of America on Monday released a list of best small- and mid-cap ideas for 2024. Strategist Jill Carey Hall added that this year's basket of 31 stocks has average 12-month potential upside of 29%, and is slightly tilted towards value stocks over growth. Shares of Bath & Body Works have trailed the market, rising 2.4% in 2023 and 0.4% so far in 2024. Bank of America also named United Airlines one of its top SMID ideas for 2024. Other names on Bank of America's list of SMID picks included e-commerce retailer Wayfair and aircraft leasing company Air Lease .

Persons: That's, Russell, Jill Carey Hall, Lorraine Hutchinson, Hutchinson, BofA, Geoff Meacham, Lou Gehrig's, Meacham, CyberArk, Tal Liani, Liani, Max, Andrew Didora, UAL, Didora, — CNBC's Michael Bloom Organizations: Wall, Bank of America, Monday, Body, Pharmaceuticals, TAM, United Airlines, Boeing, Bank of, Air Lease Locations: U.S, Amylyx, cybersecurity, CY26, Chicago

☆ 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

☆ 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

☆ StanChart to sell jet leasing arm to Saudi wealth fund unit for $3.6 bln
▼ + stars: | 2023-08-28 | by ( Rishav Chatterjee | ) www.reuters.com time to read: +2 min

The Standard Chartered bank logo is seen at their headquarters in London, Britain, July 26, 2022. Riyadh-headquartered AviLease, also known as Aircraft Leasing Co, is a jet lessor owned by Saudi Arabia's sovereign wealth fund. StanChart said in January it was exploring options for its global aviation finance business. Dublin-based Standard Chartered Aviation Finance owns and manages more than 120 aircraft and offers services including jet fuel hedging, debt financing and remarketing of unneeded planes. PIF is setting up startup carrier Riyadh Air to predominantly serve the kingdom’s capital, which has ambitions to become a global business hub.

Persons: Peter Nicholls, StanChart, Simon Cooper, Airfinance, Fahad Al, Saif, AviLease, Rishav Chatterjee, Shounak Dasgupta, Mark Potter Organizations: Chartered, REUTERS, Aircraft Leasing Co, Chartered Aviation Finance, Aviation Finance, Corporate, Institutional Banking, Standard Chartered, Saudi Public Investment Fund, Riyadh Air, Thomson Locations: London, Britain, Saudi Arabia, Riyadh, Saudi, Dublin, Europe, Bengaluru

[1/5] Model of a Pratt & Whitney GTF engine is displayed at the 54th International Paris Air Show at Le Bourget Airport near Paris, France, June 20, 2023. REUTERS/Benoit TessierSummarySummary Companies Pratt & Whitney sees 'solid progress' in supply chainSays groundings of GTF-powered fleet peaked in H1Airbus eyes post-show deal for 90 jets with Viva AerobusBoeing signs deals with Akasa Air and LuxairPARIS, June 21 (Reuters) - Jet engine maker Pratt & Whitney flagged "solid progress" in the aerospace supply chain on Wednesday, addressing a key area of concern for planemakers as they continue to rack up orders at the Paris Airshow. Pratt & Whitney President Shane Eddy, who has faced a backlash from airlines over durability problems and a shortage of spare engines, told the air show he was seeing "solid progress" in the supply chain. The European company, and U.S. rival Boeing, continued to sign new deals at the air show. Reporting by Tim Hepher, Joanna Plucinska, Allison Lampert, Valerie Insinna Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Pratt & Whitney, Benoit Tessier, Shane Eddy, Planemakers, Avolon, Tim Hepher, Joanna Plucinska, Allison Lampert, Valerie Insinna, Mark Potter Organizations: Pratt &, International Paris Air, Le, REUTERS, Viva, Boeing, Akasa Air, Luxair, Jet, Pratt, Whitney, Paris Airshow, Reuters, Airbus, Viva Aerobus, Air India, Raytheon Technologies, Aircraft, Airbus A330neo, Thomson Locations: Le Bourget, Paris, France, Luxair PARIS, Mexican, India

☆ Small cap investing pioneer Chuck Royce told us how he's outperformed for more than 3 decades, and what he's buying now
▼ + stars: | 2023-05-29 | by ( Marley Jay | ) www.businessinsider.com time to read: +4 min

But Chuck Royce, who has focused on investing in smaller companies for more than 50 years, did exactly that. "We were early in identifying this as a category for investing even before Russell showed up," he told Insider in a recent interview. Royce is the chairman of Royce Investment Partners, which manages $11.8 billion in assets — and 98% of that is invested in small caps. Big success with small capsDespite his deep roots in small-cap stocks, Royce didn't start out with a specific interest in smaller companies. Instead, after some early struggles, he found that buying high-quality smaller companies and putting together diversified portfolios was a good way to limit losses.

☆ Airbus widens its lead over Boeing in China with plans for second finishing line there
▼ + stars: | 2023-04-06 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Airbus announced plans Thursday for a second final-assembly line in China, the latest sign that it has a lock on the key aviation market over rival Boeing. The signing of the agreement by Airbus CEO Guillaume Faury was witnessed by Chinese President Xi Jinping and by Macron. It will add another line to the final-assembly facility that Airbus opened in Tianjin, China, in 2008, which has put the final touches on 600 A320 aircraft to date. This will lead to a demand for 8,420 passenger and freighter aircraft between now and 2041, representing more than 20% of the world’s total demand for new aircraft, Airbus predicts. Soured trade relationsBut worsening trade relations between the United States and China have basically locked Boeing out of that key market for aircraft.

☆ Boeing CEO Calhoun just missed out on a $7 million bonus. But he still got a raise
▼ + stars: | 2023-03-04 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN —Boeing CEO David Calhoun missed out on a $7 million bonus last year, but still got a raise. Boeing’s proxy filing Friday disclosed that when Calhoun started as CEO of Boeing in January of 2020, the board gave him a $7 million bonus package if he completed a list of goals by the end of 2023. Because of that, the company’s filing said Calhoun will not get the $7 million. And in February the board awarded Calhoun 25,000 shares of Boeing stock as a retention bonus. In May last year, Michael O’Leary, CEO of Ryanair — Europe’s largest discount carrier, which has ordered nearly 400 jets from Boeing since 2010 — let loose a profanity-laced criticism of Boeing management.

☆ Goldman Sachs sees strong margins for these stocks in 2023
▼ + stars: | 2023-02-21 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Against this backdrop, Goldman Sachs outlined a slew of Russell 1000 stocks that have grown margins in 2022 and are slated to expand once again in the new year. The aircraft leasing company is expected to grow margins by 386 basis points this year after expanding by 116 basis points through the third quarter of last year. Margins for Illumina are expected to expand by 2.15% in 2023, and Goldman anticipates they will rise 1.91% for Booking Holdings. Booking saw its margins expand by 573 basis points through the third quarter, the largest among the stocks included in the screen. The company is slated to expand its margins by 69 basis points this year after a 2.54% expansion in 2022.

The lessors took a hit of almost $10 billion when Russia barred airlines from returning planes hit by Western sanctions to their owners in the West. This has turned the spotlight on other risky markets, most prominently China and Taiwan, where some fear future conflict could cause a similar seizure on a much larger scale. When discussing the Russia losses, most executives speaking at the conference, also touched on China risks. Several executives said the loss of aircraft to Russia would simply feed into risk management models and encourage lessors to be careful about spreading their exposure rather than withdrawing from markets altogether. "Lessors aren't going to be able to abandon higher risk areas because that is what they do," he added.

The International Air Transport Association, which represents global airlines, is predicting full recovery in 2024. The crippling impact of COVID-19 saw dozens of airlines go out of business and wiped billions of dollars off balance sheets. In public, airlines and leasing firms have deplored delivery delays and are seen likely to press aircraft makers for compensation. Inflation is driving up aircraft parts and prices, while raising questions over the resilience of travel demand. Overall, more than half of the world's airline fleet is controlled by global leasing companies rather than owned directly by airlines.

☆ Global air traffic may return to pre-Covid levels in June, with China leading the way
▼ + stars: | 2023-01-16 | by ( Michelle Toh | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Global air traffic will boom this year, returning to pre-pandemic levels in June, according to a new report. On Monday, international aircraft leasing company Avolon said it expected a full recovery in passenger traffic over the coming months, led by the reopening of markets in Asia, especially China. The news has further brightened the outlook for the aviation sector, which already experienced “a 70% recovery in passenger traffic last year led by recovery in Europe and North America,” Avolon noted. Currently, global air traffic has resumed to approximately 75% of November 2019 levels, IATA said last week. “Demand for travel is no longer the constraint to recovery, but airlines’ capacity to put planes in the air,” Avolon said in its statement.

☆ These resilient stocks that keep expanding margins are Goldman's 10 picks for 2023
▼ + stars: | 2022-12-02 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +2 min

The median company on the list has expanded margins by 1.19% so far this year, while the typical stock in the Russell 1000 saw a 0.28% contraction in margins in the same period. Even better, the companies on Goldman's screen are expected to continue expanding their margins in 2023. The aircraft leasing company has expanded margins by 116 basis points this year and is expected to boost them another 429 basis points next year. Avoid stocks where margins might compress Goldman also said investors should avoid stocks where profit margins appear vulnerable if the recent decline in companies' selling, general and administrative expenses (SG & A) reverses. This is because if costs increase — likelier than not as demand slows — that will eat into profit margins and potentially lead to negative earning per share revisions.

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