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A Ukrainian pilot training to fly F-16s said it was like upgrading from a Nokia to an iPhone. He said the jets were "awesome" but had more complex electronic systems than Soviet-made jets. The first F-16 fighter jets should be delivered to Ukraine this summer, according to Denmark. AdvertisementA Ukrainian pilot said that transitioning from old Soviet-made planes to Western F-16s is like upgrading from a Nokia to an iPhone. The pilot, with the call sign "Moonfish," is one of six being trained to use the fighter jets at the Skrysdtrup base in Denmark.
Persons: Organizations: Nokia, Service, Business Locations: Ukrainian, Soviet, Ukraine, Denmark
Travel expert Bobby Laurie shared two ways travelers can save money on airfare. Laurie suggested travelers search for the cheapest upgrades and not just the cheapest overall fare. Laurie said travelers should avoid searching their flights on the same search engine, device, or IP network as many airlines have a dynamic pricing strategy. I've seen many times situations where first class or premium economy was cheaper than the coach ticket," Laurie said. Laurie said travelers should avoid spending extra for a refundable fare when booking with major US airlines.
Persons: Bobby Laurie, Laurie, , who've, I've Organizations: Service, International Trade Administration, US Airways, Virgin America Locations: skiplagging
Ukraine's air force said it has shot down another Russian A-50 spy plane. Ukraine previously said it shot down a Russian A-50 in January. AdvertisementUkraine's air force said it shot down another Russian A-50 spy plane on Friday. The A-50 is a crucial spy plane that allows Russian to detect incoming Ukrainian missiles and identify ground targets. AdvertisementIn mid-January, Ukraine said it shot down another Russian A-50 spy plane over Ukraine's southern Zaporizhzhia region on the same day it also said it shot down an Ilyushin Il-22 airborne command post.
Persons: , Gustav Gressel, Natalie Musumeci, Sinéad Baker Organizations: Service, CNN, Business, Ilyushin, UK's Defense Ministry, European Council, Foreign Relations Locations: Russia, Ukraine, Russian, Zaporizhzhia, Azov, Kyiv
The head of the FAA told Congress how its panel is examining sleep science to help. Despite the best efforts of pilots and air traffic controllers, sometimes collisions do happen. It said the captain was distracted and confused by instructions from air traffic controllers, while the co-pilot lost track of the plane's location. Air traffic control fatigueOne major cause of near-misses is the strained workload of air traffic controllers. "Air traffic controllers are being required to do mandatory overtime," she said.
Persons: , Mike Whitaker, Whitaker, Rich Santa, Jennifer Homendy, Paul Rinaldi, Forbes, It's, Brad Surak Organizations: FAA, Service, New York Times, American Airlines, JFK, Delta Air Lines, JetBlue, Boston Logan International, Japan Airlines, Federal Aviation Administration, National Transportation Safety Board, National Air Traffic Controllers Association, Times, National Transportation Safety, Boeing Locations: Tokyo
This article is part of "Business Travel Playbook," a series about making the most of work travel. During a business trip, employees are away from their families, their normal routines are disrupted, and they typically log in longer hours, which can be stressful. She said employers could ease the burden of business travel by allowing employees to take time off after a business trip to recover. Whether a work trip includes commuting to a nearby city or traveling to another country, business travel can be tiring. "It's important to be realistic about how much work travel you can endure and how much work you can realistically complete if your job requires frequent travel," Norfus said.
Persons: , aren't, who've, they'd, Danielle Sabrina, Sabrina, Eric Snyder, Natalie Norfus, Norfus, Natalie E, Julian Buitrago, Ashlee Brennan, Brennan Organizations: Service, Business Travel Association, Employees, Employers Locations: AbsenceSoft
The speeds — Virgin's plane reached 802 mph and United at 838 mph — are some of the fastest speeds recorded in recent years. According to the National Weather Service in the DC area, winds reached speeds of 265 mph. AdvertisementThe challenges come when the plane needs to leave the jet stream, Bangs said. On turbulent flights, passengers might notice the plane's wings bending and flexing, and that's on purpose, Bangs told BI. Ultimately, Bangs said, "if that 260 mph jet stream is acting as a tailwind on your flight, it's a lot of fun."
Persons: , Kathleen Bangs, Domenic, Bangs, LaFauci Organizations: Service, Boeing, Virgin Airlines, United Airlines, National Weather Service, NPR, Business, Getty, Southern New Hampshire University, Airline
NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Executives who use their companies' private jets for personal travel will face a crackdown from the Internal Revenue Service. The audits will focus on large companies and high-income taxpayers, to check whether they're properly allocating between business and personal flights for tax purposes. This story is available exclusively to Business Insider subscribers.
Persons: Organizations: Service, Internal Revenue, IRS, Business
Tackling the tax gap: IRS cracks down on wealthy
  + stars: | 2024-02-22 | by ( )   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTackling the tax gap: IRS cracks down on wealthyNatasha Sarin, Yale Law School and Yale School of Management professor and former Treasury Department official, and Alex Brill, American Enterprise Institute senior fellow and former House Ways and Means Committee policy director and chief economist, join 'Squawk Box' to discuss the IRS' plans for 'dozens of new audits' of corporate jet usage as part of its increased scrutiny of large corporations, complex partnerships and top earners, the best ways to tackle the tax gap, and more.
Persons: Natasha, Alex Brill Organizations: Yale Law School, Yale School of Management, Treasury Department, American Enterprise Institute senior
LONDON — Rolls-Royce shares jumped more than 8% on Thursday after the British aerospace group more than doubled its annual profits in 2023 and forecast further momentum this year. Rolls-Royce, which manufactures jet engines for commercial aircraft along with power systems for ships and submarines, posted an underlying operating profit of £1.6 billion ($2 billion) in 2023, compared to £652 million in 2022. The group also reported a record free cash flow of £1.3 billion, driven by strong operating profit and continued growth of its long-term service agreement (LTSA) book. Rolls-Royce was the top performer in Britain's FTSE 100 in 2023, soaring over 200% on the back of a profit forecast upgrade and the announcement in November that profits could quadruple by 2027. "Our strong delivery in 2023 gives us confidence in our 2024 guidance and is a significant step towards our mid-term targets," Erginbilgic added.
Persons: Tufan Erginbilgic, Royce, Erginbilgic, Cheviot Organizations: Airbus, Universal Sky, LONDON, Royce, Power Systems, Defence Locations: Barcelona, Spain, British, Britain's
Read previewNASA is hiring four people to spend 378 days living inside a simulated Mars habitat in Houston. NASA is looking for people who are "as astronaut-like as possible," said Bell, who also leads NASA's Behavioral Health and Performance Lab. NASA astronaut Frank Rubio with tomatoes growing on the International Space Station. NASA/Lacey YoungIn the Mars simulation, for 378 days, you can't go for a walk outside. JPL/NASAIt's not just experience and stress tolerance that makes a Mars astronaut.
Persons: , Suzanne Bell, Bell, Ross Brockwell, Mars, CHAPEA, Frank Rubio, Koichi Wakata, Lacey Young, Bill Stafford, Go Nakamura, It's, There's, NASA It's, there's, that's Organizations: Service, Crew Health, NASA, Behavioral, Business, Space, Japan Aerospace Exploration Agency, REUTERS, JPL, Getty Locations: Houston
In the live-action, Jet is played by actor Sebastian Amoruso. AdvertisementWarning: Spoilers through episode four of the live-action "Avatar: The Last Airbender" ahead. Sebastian Amoruso and Kiawentiio as Jet and Katara in "Avatar: The Last Airbender." AdvertisementVideos of some of those performances are available on YouTube, showing that Amoruso played JD in "Heathers" and also appeared in shows like "American Idiot." Jet in the original "Avatar: The Last Airbender" cartoon.
Persons: , Sebastian Amoruso, Robert Falconer, Amoruso, He's, Johnny, Sebastian Amoruso's, Jet, Katara, he's, Aang, Katara's Organizations: Service, Fire, Kiawentiio, Business, Netflix, Berklee College of Music, Washington D.C, Brookside Artist Management, Amazon Studios, Manor Performing Arts Training, YouTube, Jet, Nickelodeon, Fire Nation Locations: Los Angeles, Washington, New York, Omashu
Miniature models of Boeing commercial airplanes displayed at the Singapore Airshow in Singapore on February 20, 2024. SINGAPORE — Boeing touted its 737 Max aircraft as "the safest airplane" and said China's latest domestic jetliner Comac C919 is similar to offerings by Airbus and Boeing that are already in the market. However, he insisted it was "the safest airplane that can be out there today." A midflight blowout of a fuselage panel on one of Boeing's 737 Max 9 operated by Alaska Airlines earlier this year raised concerns about safety after loose bolts were found during preliminary inspections. On Wednesday, Boeing announced it will be replacing the head of its 737 Max program.
Persons: Dave Schulte, , Schulte, Max Organizations: Boeing, Singapore, SINGAPORE — Boeing, Airbus, Max, Alaska Airlines, Wednesday, U.S . Air Force Locations: Singapore, SINGAPORE, Asia, Pacific
Read previewUkraine is running out of key missiles to protect its skies against Russian attacks, a development that could allow Russia's air force to firmly enter the conflict. But Ukraine has been able to largely hold Russia's air force back from the conflict since the start of the full-scale invasion in February 2022. Reduced Ukrainian air defenses mean the severity of Russia's drone and missile strikes will likely increase — and its air force could also come more into play. But without enough air defense systems "the risk is we see more and more of the Russian air force actually being able to conduct battlefield interdiction," he added. "The Russian Air Force is still a significant threat," Bronk said.
Persons: , Frederik Mertens, Viacheslav, Justin Bronk, SAMS, Bronk, it's, SAMs Organizations: Service, Business, Getty, Hague, Strategic Studies, Ukrainian Tactical Aviation, New York Times, REUTERS, Royal United Services Institute, Russian Air Force Locations: Ukraine, Russia, Russian, Lyman, Avdiivka, Kyiv
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIRS Commissioner Danny Werfel on taxing the wealthy, restoring fairness and utilizing AICNBC's Robert Frank sits down for a wide-ranging interview with IRS Commissioner Danny Werfel, discussing tax on the wealthy, corporate jet audits, AI, and more.
Persons: Danny Werfel, Robert Frank
A British accountant became a millionaire overnight after he and his wife won around £61 million ($78 million). The press release said that he would work until the end of the UK tax year, on April 5. Debbie Nuttall handed in her notice for her job as a civil engineer after finding out about the win, the press release said. AdvertisementRichard's decision to stay in work to wrap things up is a change when looking at lottery winners of the past. Emily Irwin, a financial advisor to lottery winners, previously told BI that winners have the best chance at protecting their winnings by forming a team of advisors and avoiding overspending.
Persons: , wouldn't, Richard Nuttall, Debbie, Nuttall, Debbie Nuttall, Richard, Ben King, Emily Irwin, Irwin Organizations: Service, National Lottery, Daily Mail, Sky News, BMW Locations: British, Canary, Portugal
The stock surged 14% in premarket trading, putting it on course to boost its value by $240 billion. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementHere's how analysts are reacting to Nvidia's latest report. Advertisement"This was a 'game-changing moment' for the tech bulls and puts jet fuel in the tech bull market thesis," he added.
Persons: , it's, Jensen Huang, Kathleen Brooks, XTB, we've, Brooks, hadn't, Dan Ives, AI Jensen, Ives, Jason Hollands, Hollands, Russ Mould, AJ Bell, Mould Organizations: Nvidia, Service, Nikkei, Big Tech Locations: Europe, Bestinvest
Gulfstream Aerospace exec discusses Gulfstream G700 jet
  + stars: | 2024-02-21 | by ( )   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGulfstream G700 has 'longest range at the fastest speeds' of any business jet: Gulfstream AerospaceScott Neal, senior vice president of worldwide sales at Gulfstream Aerospace, discusses the records that the aircraft has set and the company's business outlook.
Persons: Gulfstream Aerospace Scott Neal Organizations: Gulfstream, Gulfstream Aerospace
New York CNN —Boeing removed executive Ed Clark, the head of its 737 Max passenger jet program, after a dramatic – and terrifying – midair blowout in January underscored ongoing problems with the jet. But he had previously held roles related to the 737 Max, including as chief engineer and chief 737 mechanic. It created a new executive position, Senior Vice President for BCA Quality, and named Elizabeth Lund to that position. Mike Fleming, who had previously been senior vice president of development and customer service, will assume the role Lund previously held. And Katie Ringgold, who had been vice president of 737 Max deliveries, will assume Clark’s former position overseeing the Max.
Persons: Ed Clark, Max, Dave Calhoun, , ” Clark, Elizabeth Lund, Lund, Mike Fleming, Katie Ringgold, Scott Kirby Organizations: New, New York CNN, Boeing, Max, Alaska Airlines, National Transportation Safety Board, NTSB, Boeing Commercial Airplanes, BCA Quality, – United Airlines, Delta Air Lines Locations: New York, Southwest, Alaska
Ukraine's Armed Forces destroyed another Russian Su-34 fighter jet, marking the seventh in a week. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUkraine said it destroyed another Russian fighter jet on Wednesday, bringing its kill streak to seven in one week. The commander of Ukraine's air force, Lieutenant General Mykola Oleshchuk, said on Wednesday that Ukraine had taken out a Su-34 fighter bomber. A spokesperson for the Ukrainian Air Force told the Kyiv Post that the plane was downed "in the eastern direction."
Persons: , Mykola Oleshchuk, Forbes, Sinéad Baker, Justin Bronk, Baker, Denys Shmyhal Organizations: Ukraine's, Forces, Service, Pravda, Eternal, Ukrainian Air Force, Kyiv Post, Ukraine, Royal United Services Institute, ABC News, US, Africa Command, Ukrainian Armed Forces Locations: Russian, Ukraine, Kyiv, Poltava, Kharkiv, Dnipropetrovsk, Zaporizhzhya, Donetsk, Russia, Europe
Turkey spent nearly two years — along with Hungary — holding up Sweden's accession to NATO. Within hours of Ankara's decision, the U.S. approved a $23 billion sale for F-16 fighter jets to Turkey that had been delayed since 2021. It's worth noting that Hungary has yet to approve Sweden's NATO bid, and remains the only member of the alliance standing in the way of the Nordic country's accession. Turkey seemingly has a unique position that allows it to push the envelope and cross lines with its NATO allies. "My approval of Turkey's request to purchase F-16 aircraft has been contingent on Turkish approval of Sweden's NATO membership.
Persons: Turkey Recep Erdogan, It's, Recep Tayyip Erdogan, it's, Victoria Nuland, David Lepeska, Ben Cardin Organizations: NATO, Conference, Hungary —, UAE, Democratic, Senate Foreign Relations Locations: Turkey, Vilnius, Lithuania, Hungary, Sweden, Washington, Russian, Turkish, Eastern
The IRS on Wednesday unveiled plans for "dozens of new audits" of corporate jet usage as part of its increased scrutiny of large corporations, complex partnerships and top earners. More than 10,000 corporate jets operate in the U.S., and the agency believes some companies overstate deductions while using aircraft for mixed business and personal travel. Plus, individuals may not be reporting personal trips via corporate jet as income, the IRS said. The agency will begin with a round of three to four dozen audits of corporate jet usage, focused primarily on corporations and complex partnerships. But future exams could expand to individuals, depending on the findings.
Organizations: IRS Locations: U.S
The NewsThe Internal Revenue Service said on Wednesday that it would begin cracking down on corporate jet owners that abused the tax code by claiming millions of dollars in deductions on airplanes that were sometimes being used for personal travel. The scrutiny of corporate jet use will involve new data analytics tools, which the I.R.S. has been developing with the $80 billion in funds it was granted through the Inflation Reduction Act of 2022, to determine when executives or other company officials might be using corporate planes for vacations and private trips. The agency plans to begin dozens of new audits that will focus on large companies, partnerships and wealthy taxpayers. “These aircraft audits will help ensure high-income groups aren’t flying under the radar with their tax responsibilities,” Daniel Werfel, the I.R.S.
Persons: ” Daniel Werfel Organizations: Internal Revenue Service
A person walks past an unpainted Boeing 737-8 MAX parked at Renton Municipal Airport adjacent to Boeing's factory in Renton, Washington on January 25, 2024. The company's 737 program head, Ed Clark, is leaving the company, Stan Deal, CEO of Boeing's commercial airplane unit, said in memo to employees. "Ed departs with my, and our, deepest gratitude for his many significant contributions over nearly 18 years of dedicated service to Boeing," Deal said. A month after the Alaska Airlines flight, Boeing said misdrilled holes on some Max planes would delay handovers of the aircraft to airlines. The door plug that blew out of the almost brand-new 737 Max 9 used for Alaska Airlines Flight 1282 has already brought increased scrutiny and restrictions from federal regulators.
Persons: Max, Ed Clark, Stan Deal, Katie Ringgold, Deal, Elizabeth Lund, Lund, Ed, it's Organizations: Renton Municipal Airport, Boeing, Alaska Airlines, National Transportation Safety, Federal Aviation Administration, Airbus, CNBC PRO Locations: Renton, Renton , Washington, Alaska, United
Boeing said on Wednesday that it was shaking up the leadership in its commercial airplanes unit after a harrowing incident last month during which a piece fell off a 737 Max 9 jet in flight. Ed Clark, the head of Boeing’s 737 Max program, which includes the Max 9, is leaving immediately, Stan Deal, the chief executive of the commercial airplanes unit, said in a memo to employees. Boeing, which also announced other leadership changes, has been under pressure from regulators, airlines and members of Congress to prove that it is committed to making safe planes. Boeing said recently that it was overhauling its quality control process, including increased inspections at the factory in Renton, Wash., where Mr. Clark oversaw Max production. Those crashes cost Boeing billions of dollars, damaged its image and attracted more scrutiny of the company from regulators worldwide.
Persons: Ed Clark, Stan Deal, Clark, Max Organizations: Boeing, Alaska Airlines, Max Locations: Renton, Wash, Alaska
“The IRS is using advanced analytics and resources from the Inflation Reduction Act to more closely examine this area,” IRS Commissioner Danny Werfel said on a call with reporters. So far, the IRS has used Inflation Reduction Act funds to help collect more than $482 million from 1,600 millionaires who had not paid their tax debts. Last month, to coincide with the start of tax filing season, the IRS launched its own free, direct tax filing service. How Republicans have targeted IRS fundingThe Inflation Reduction Act, which passed in 2022 without any Republican votes, approved about $80 billion for the IRS over a 10-year period. The House GOP later approved a bill to abolish the IRS altogether and replace the entire federal tax code with a national sales tax.
Persons: Biden, , Danny Werfel, Organizations: Washington CNN, Internal Revenue Service, Democrat, IRS, Republicans, Republican, GOP
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