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☆ A video appears to show flames spurting from a Boeing 747-8 plane in the sky that was forced to make an emergency landing in Miami
▼ + stars: | 2024-01-19 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +3 min

An Atlas Air Boeing 747-8 cargo plane made an emergency landing after an engine malfunction. Atlas Air said the plane landed safely and no injuries were reported. AdvertisementA video appears to show a Boeing 747-8 cargo plane on fire in the sky before making an emergency landing at Miami International Airport on Thursday. BREAKING REPORT : ⚠️ Atlas Air Boeing 747-8 from Miami International Airport CATCHES FIRE MID AIR.. A spokesperson for Miami International Airport told BI that the plane landed safely at 11:03 pm Eastern Time on Thursday.

Persons: —, Chuck Callesto, 5Y095, NBC6, we'll, Max Organizations: Atlas Air Boeing, ., Air, Service, Boeing, Miami International Airport, Atlas Air, Reuters, AIR, Business, MIA, US Federal Aviation Administration, FAA, BI, Japan Airlines, Coast Guard, Alaska Airlines Boeing, Max, Alaska Airlines Locations: San Juan , Puerto Rico

☆ Cargo Plane Makes Emergency Landing in Miami After ‘Engine Malfunction’
▼ + stars: | 2024-01-19 | by ( Derrick Bryson Taylor | More About Derrick Bryson Taylor | ) www.nytimes.com time to read: 1 min

An Atlas Air cargo plane headed for Puerto Rico was diverted Thursday night after taking off from Miami International Airport because of engine trouble, according to an official and flight data. Flight 5Y095 landed safely after experiencing an “engine malfunction” shortly after departure, Atlas Air said early Friday. “The crew followed all standard procedures and safely returned” to the airport, the company said in a statement. “At Atlas, safety is always our top priority and we will be conducting a thorough inspection to determine the cause.”It was unclear what kind of cargo the plane was carrying. While the company did not state the aircraft type, data collected by FlightAware, a flight tracking company, showed it was a Boeing 747-8.

Persons: 5Y095, “, ”, FlightAware Organizations: Atlas Air, Miami International Airport, Boeing Locations: Puerto Rico

☆ US FAA to Investigate Emergency Landing of Atlas Air Boeing Cargo Plane
▼ + stars: | 2024-01-19 | by ( Jan. | At A.M. | ) www.usnews.com time to read: 1 min

Wake-Up Call or Last Call? New Hampshire used to be the start of the presidential nominating calendar. But with the front-runners decisively ahead in 2024, it’s looking as if it could be the end of the process.

Locations: New Hampshire

☆ Greenlight's David Einhorn hit home runs short selling and buying companies making big buybacks
▼ + stars: | 2023-07-30 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Greenlight Capital's David Einhorn, a value-oriented hedge fund manager, found success pivoting to short selling and buying companies with big buyback programs. At the end of that bull market, Einhorn said the majority of surviving value investors ceased to consider valuation as a determining factor in their investment process. That "was an exceptionally good year," Einhorn said in his 2022 investor letter. The 54-year-old Einhorn also pivoted to buying companies with sizable buyback programs in place, instead of purchasing cheap stocks that have been struggling to close the valuation gap. Atlas Air Worldwide and Green Brick Partners were some of the stocks Einhorn held whose boards had authorized big repurchases.

Persons: Greenlight Capital's David Einhorn, Einhorn, shorting, Cathie Wood, Greenlight Organizations: Cornell, Greenlight Capital, Wall, Atlas Air, Green Brick Partners, Apollo Global, Green

☆ FedEx appoints new CFO
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +1 min

[1/2] Signage is seen on a FedEx location in Manhattan, New York City, U.S., September 3, 2021. REUTERS/Andrew KellyJuly 17 (Reuters) - FedEx Corp (FDX.N) on Monday appointed former CEO of Atlas Air Worldwide John Dietrich as chief financial officer, effective Aug. 1. FedEx said Dietrich, a veteran in the aviation and air cargo space, has held numerous leadership roles at Atlas Air Worldwide since 1999. The development comes months after the company outlined $4 billion in permanent cost cuts by the end of its 2025 financial year. Last fiscal year, FedEx slashed about 29,000 jobs, retired 18 planes, shuttered offices and pared back profit-sapping Sunday deliveries.

Persons: Andrew Kelly, John Dietrich, Michael Lenz, Dietrich, Priyamvada, Devika Syamnath Organizations: FedEx, REUTERS, FedEx Corp, Monday, Atlas Air, Atlas Air Worldwide, Thomson Locations: Manhattan , New York City, U.S, Memphis, Bengaluru

Raoul Sreenivasan, who joined Amazon in 2016 and currently oversees planning, performance and cargo for Amazon Global Air, will take over most of Rhoads' Amazon Air responsibilities, Felton said. As part of an effort to handle and deliver more of its own packages, Amazon launched an air cargo business. Rhoads joined Amazon Air in its early days and has overseen much of the unit's growth, including the opening of a $1.5 billion air hub in Kentucky. Air cargo rates have plunged from record highs hit during late 2021, when port snarls and a dearth of international flights pinched capacity and drove up prices. Correction: Sarah Rhoads joined Amazon in 2011.

Persons: Mark Makela Sarah Rhoads, John Felton, Amazon's, Rhoads, Felton, Raoul Sreenivasan, Sreenivasan, Andy Jassy, Becky Gansert, Heather MacDougall, Pam Greer, Sarah Rhoads Organizations: Lehigh Valley International, Amazon, CNBC, Amazon Global Air, Amazon Global, DHL, TNT Express, FedEx, U.S . Navy, UPS, Amazon Air, Atlas, Boeing, Hawaiian Airlines, Airbus, Air, U.S, Bloomberg ., Amazon Logistics Locations: Allentown , Pennsylvania, U.S, Kentucky

☆ Stocks making the biggest moves midday: Credit Suisse, First Republic Bank, Halliburton and more
▼ + stars: | 2023-03-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Credit Suisse — Shares of Credit Suisse plunged 25% after its biggest backer, Saudi National Bank, said it won't provide the Swiss bank with further financial help. First Republic Bank — The regional bank stock tumbled 23%, giving back some of Tuesday's gains as turmoil at Credit Suisse rattled the broader sector and S&P Global Ratings downgraded its debt rating to BB+ from A-. U.S. banks — Major U.S. banks tumbled on Wednesday as unease over the latest crisis at Credit Suisse spooked some investors. Energy stocks — Major energy stocks took a hit as oil stooped to its lowest level in more than a year. New York Community Bancorp — The regional bank stock jumped more than 5%, bucking the broader sell-off trend in banking names.

☆ Stocks making the biggest moves after hours: Lennar, First Republic, Western Alliance and more
▼ + stars: | 2023-03-14 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Check out the companies making headlines after the bell:Lennar — The homebuilding stock gained about 2% in extended trading. Lennar beat analysts' earnings and revenue expectations for the recent quarter, according to Refinitiv. First Republic — Shares of the regional bank stock were on the move once again after the bell, last up 12%. Other bank names Western Alliance and KeyCorp also rose, gaining about 10% and 3.5%, respectively. — The retail stock lost more than 7% after posting disappointing guidance for the first quarter and full year, according to FactSet.

☆ David Einhorn says investors should be 'bearish on stocks and bullish on inflation'
▼ + stars: | 2023-03-01 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Greenlight Capital's David Einhorn said Wednesday he's keeping his negative stance on the stock market as inflation and interest rates could shoot higher. "I think we should be bearish on stocks and bullish on inflation," Einhorn said on CNBC's "Halftime Report." "I think that both long and short term rates are headed higher and probably higher than what people are expecting," Einhorn said. "I think it would be better if they cared less about the stock market in either direction." At the end of 2022, Greenlight's biggest long position included Green Brick Partners, Brighthouse Financial and Consol Energy.

☆ Investor David Einhorn, whose hedge fund was up nearly 37% last year, gives his favorite longs
▼ + stars: | 2023-03-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Greenlight Capital's David Einhorn is continuing to bet on some of the long stocks that helped his hedge fund outperform in last year's market rout. That includes CONSOL Energy , a coal stock that was among the hedge fund's biggest long positions and winners in 2022. The comments from Einhorn come after the star hedge fund manager posted a solid end to 2022 by betting on inflation and against growth bubble names. His hedge fund surged nearly 37% due in part to long positions in names like Atlas Air Worldwide , Teck Resources and Twitter, before its acquisition. Green Brick Partners and Danimer Scientific marked the hedge fund's only two significant losing long positions 2022, he wrote in his January letter.

One of Amazon 's key air cargo operators said Monday that the e-commerce giant is scaling back on flights this year, citing lower demand and slower economic growth. Air cargo rates, which surged in recent years due to port congestion and high demand for fast deliveries, have slumped. The International Air Transport Association said last month that air cargo demand in November was down nearly 14% from the year-ago period, while capacity fell 1.9%. Through Amazon Air, the company has built up a burgeoning air network to control more aspects of the delivery process and ensure faster delivery. WATCH: How the pandemic shifted how Boeing and airlines think about air cargo

☆ Boeing delivers last 747, saying goodbye to 'Queen of the Skies'
▼ + stars: | 2023-02-01 | by ( Valerie Insinna | ) www.reuters.com time to read: +4 min

"It's the airplane that redefined the industry and redefined air travel," said Guy Norris, co-author of "Boeing 747: Design and Development Since 1969." British billionaire entrepreneur Richard Branson, who was inspired to start an airline with a single Boeing 747 after getting stuck on a delayed flight, earlier on Tuesday called it a "wonderful beast" as he bid farewell. When Boeing confirmed in July 2020 that it would end 747 production, it was already only producing at a rate of half an aircraft a month. Smith said all 747 program workers were transferred to other jobs or voluntarily retired. Boeing will remain tied to the 747 through the aftermarket business and the Air Force One replacement program, which Boeing won in 2018.

☆ Billionaire Richard Branson calls the Boeing 747 a 'wonderful beast' after the last jumbo jet is delivered but says it was 'too expensive'
▼ + stars: | 2023-02-01 | by ( Kate Duffy | ) www.businessinsider.com time to read: +2 min

Richard Branson described the 747 as a "wonderful beast" as Boeing stopped production of the jets. Branson told Reuters the 747's daily fuel costs across the Atlantic became too expensive. Thousands of people gathered on Tuesday to celebrate Boeing delivering its final 747. "So farewell to a wonderful beast," Branson told Reuters. Insider attended the UK's first orbital space launch carried out by Virgin Orbit at Spaceport Cornwall.

☆ Boeing plans to add a new 737 Max production line to meet strong demand
▼ + stars: | 2023-01-30 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

An aerial view of the engines and fuselage of an unpainted Boeing 737 MAX airplane parked in storage at King County International Airport-Boeing Field in Seattle, Washington, June 1, 2022. Boeing said it plans to add a fourth 737 Max production line in the second half of next year as it targets higher output of its best-selling plane, an executive told staff on Monday. Boeing booked 700 orders for new 737 Max planes last year. Boeing still plans to operate three production lines at the Renton, Washington, 737 Max factory, Deal said. Boeing plans to hand over the last 747 it has produced to cargo carrier Atlas Air on Tuesday afternoon.

[1/10] A Boeing E-4B "Doomsday Plane" military aircraft takes off at Joint Base Andrews, in Maryland, U.S., May 11, 2022. But it was in the seemingly endless rows at the back of the new jumbo that the 747 transformed travel. "This was THE airplane that introduced flying for the middle class in the U.S.," said Air France-KLM CEO Ben Smith. "Prior to the 747 your average family couldn't fly from the U.S. to Europe affordably," Smith told Reuters. Now, two previously delivered 747s are being fitted to replace U.S. presidential jets known globally as Air Force One.

☆ Greenlight's David Einhorn is shorting innovation stocks like those held by Cathie Wood
▼ + stars: | 2023-01-17 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Einhorn also said he is still short some 'bubble' names. Driving the stellar performance was a successful bet against what seemed to be the constituents of Wood's flagship ARK Innovation ETF (ARKK) . "In early 2021, we also identified an actively-managed ETF of so called 'innovation' stocks that appeared to us to have significantly similar characteristics to our bubble names," stated the letter. ARKK 1Y mountain ARK Innovation ETF's 1-year sell-off Einhorn said he created another "bubble" basket with 31 names totaling 6.5% of capital in January of last year. Einhorn said this bubble basket remained in the portfolio but he has covered some positions.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe rise and fall of the Boeing 747Boeing's 747 is one the most recognizable planes to take to the skies. It has flown more than 3.5 billion passengers since 1970. But over the last few decades, airlines have looked for more ways to cut costs and to make airplanes more efficient. CNBC visited Boeing's Everett, Washington factory to see the last 747 roll off the production line. CNBC takes a look at how the 747 changed aviation and what's next for Boeing.

☆ Why Boeing stopped making the 747 jumbo jet
▼ + stars: | 2023-01-07 | by ( Erin Black | ) www.cnbc.com time to read: 1 min

Since its first commercial flight in 1970, Boeing 's 747 jumbo jet has flown more than 3.5 billion passengers. The double-decker plane made air travel way more affordable for millions of people around the globe. Two-engine jets can now fly near the same capacity and fly farther than older, four-engine planes like Boeing's 747 and the Airbus A380. CNBC visited Boeing's Everett, Washington, factory to see the last 747 roll off the production line. CNBC looks back at how the 747 changed air travel and what's next for Boeing.

☆ Boeing airplane deliveries picked up in November
▼ + stars: | 2022-12-13 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Boeing 's aircraft deliveries picked up last month with airlines getting more 737 Max and 787 Dreamliner planes. Boeing also delivered 32 of its 737 Max planes to carriers including United and Southwest . November deliveries also included the second-to-last Boeing 747, which went to Atlas Air Worldwide Holdings . Boeing logged orders for 21 planes in November, which did not include United's massive order for at least 100 Dreamliners, announced earlier Tuesday. So far this year, Boeing has delivered 411 planes and logged net orders for 571 planes.

☆ Boeing's last-ever 747 just rolled off the assembly line, marking the end of an era. Here's the history of how the revolutionary plane changed the world.
▼ + stars: | 2022-12-06 | by ( Thomas Pallini | Taylor Rains | ) www.businessinsider.com time to read: 1 min

"As we say goodbye to the Queen of the Skies, we're proud of her legacy as an airplane that propelled aviation innovation and later laid the foundation of our family of freighters," Boeing 747 and 767 program manager Kim Smith said. The ribbon cutting ceremony of Atlas' second-to-last 747 at the Boeing Everett Delivery Center. Atlas AirSource: Atlas Air

☆ Boeing's last 747 is rolling out of the factory after a more than 50-year production run
▼ + stars: | 2022-12-06 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

EVERETT, Wash. − Boeing 's final 747 is set to roll out of the company's cavernous factory north of Seattle as airlines' push for more fuel-efficient planes ends the more than half-century production run of the jumbo jet. "It's a very surreal time, obviously," said Kim Smith, vice president and general manager of Boeing's 747 and 767s programs out of the assembly plant here. "For the first time in well over 50 years we will not have a 747 in this facility." The lone 747, covered in a green protective coating, sits inside the company's massive assembly plant in Everett — the largest building in the world by volume, according to Boeing. The end of 747 production doesn't mean the planes will disappear entirely from the skies, since the new ones could fly for decades.

☆ The very last 747 jumbo jet is about to roll off Boeing’s assembly line
▼ + stars: | 2022-12-06 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN Business —After 53 years and more than 1,570 planes, the last Boeing 747 is set to roll off the assembly line in Washington state Tuesday, on its way to serve as a cargo plane. The once-groundbreaking jumbo jet, with the distinctive second-floor bulge, is perhaps the most notable and popular plane Boeing has ever built. The Boeing 747 in 1969. Other than that use, the 747’s days as a passenger plane are now almost completely behind it. But there are still 314 747 freighters in use, according to Cirium, many of which were initially used as passenger jets before being renovated into freighters.

☆ Amazon just hired another passenger airline to fly cargo jets using the biggest aircraft yet
▼ + stars: | 2022-10-21 | by ( Taylor Rains | ) www.businessinsider.com time to read: +3 min

Hawaiian Airlines announced a deal with Amazon on Friday to use converted Airbus A330-300F freighter jets. The carrier will operate on behalf of Amazon to transport cargo, joining other operators like Sun Country Airlines. On Friday, Hawaiian Airlines announced a deal with Amazon to lease and maintain 10 Airbus A330-300F cargo jets to fly on behalf of the e-commerce giant. According to Airbus, all 10 A330s, which are bigger than the Boeing 767s, will be converted from passenger service to cargo jets. Sun Country and Silver Airways are the only other passenger airlines to fly cargo on behalf of Amazon; they use Boeing 737-800BCF and ATR 72-500F converted freighters, respectively.

☆ David Einhorn says he's bearish because the Fed's 'official policy is to make the stock market go down'
▼ + stars: | 2022-10-20 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Greenlight Capital's David Einhorn, who is crushing the market with double-digit returns this year, is selling stocks as the Federal Reserve continues to deflate the market with aggressive rate hikes. However, higher interest rates also discourage investments and in turn crunch supply, which is most evident in the housing market. "The most glaring area might be in housing, where higher rates lead to reduced supply despite widespread shortage," Einhorn said. That compares with a 23.9% decline for the S & P 500 during the same period as the benchmark tumbled into a bear market. Further, high short-term interest rates provide competition for gold," Einhorn said.

☆ Apollo Global exploring takeover of Ryder System - Bloomberg
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +1 min

Sept 27 (Reuters) - Apollo Global Management (APO.N) is exploring a takeover of freight services provider Ryder System (R.N), Bloomberg News reported on Tuesday citing people with knowledge of the matter. Apollo and Ryder did not immediately respond to Reuters requests for comment. The potential bid comes months after Ryder rejected hedge fund HG Vora Capital Management's offer to acquire the company for $4.4 billion. Last month, Apollo led a group to take air-freight company Atlas Air Worldwide Holdings Inc (AAWW.O) private for nearly $3 billion. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Kannaki Deka in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

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