DIRS.INFO The most relevant business & tech news

☆ The ultra-wealthy who fly private are costing average flyers who won't ever use a private plane a lot of money
▼ + stars: | 2023-05-01 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

Private jet travel has surged in the US over the last few years and accounts for one in every six flights. But private flyers pay just two percent of the taxes that fund the Federal Aviation Administration. Commercial flyers must pay a tax on every ticket equivalent to 7.5% of the fare price. But private flyers only pay a jet fuel tax. Private airplane travel is significantly worse for the environment than commercial flight travel, since private jets carry far fewer people.

☆ What it was like to pilot the supersonic Concorde jet
▼ + stars: | 2023-04-27 | by ( Francesca Street | ) edition.cnn.com time to read: +28 min

It’s said that during the aircraft’s 27 years of service, there were more qualified American astronauts than there were British Airways Concorde pilots. Supersonic flyingA photo of Concorde pilot Barbara Harmer, Concorde at the controls for a London to New York flight in 1993. Concorde: When supersonic travel was a reality 02:32 - Source: CNNThe small pool of Concorde pilots also meant everyone knew everyone. It would take him back to the day he stood at Heathrow, watching the first commercial Concorde flight take off. Future of supersonic flightAlmost two decades since Concorde’s final flight, the allure of supersonic flight hasn’t waned, with companies such as Boom Supersonic plotting plans for Concorde’s successor.

"The Republicans have raised the debt limit. McCarthy bridged deep divides among House Republicans to get the bill passed. McCarthy called on Biden to begin negotiations on a debt limit increase and spending-cut bill and for the Senate to either approve the House bill or to pass its own. The House bill would increase Washington's borrowing authority by $1.5 trillion or until March 31, whichever comes first, raising the specter of another round of negotiations during the 2024 presidential campaign. The White House has called on Congress to raise the debt limit without conditions, as it did three times under Biden's Republican predecessor, Donald Trump.

☆ Safran posts strong sales but sees supply chain risks
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

"The (pandemic) demand crisis is well and truly behind us," Chief Executive Olivier Andries said after reporting first-quarter revenues that rose 24.7% on an underlying basis to 5.266 billion euros ($5.78 billion). Safran's core propulsion revenues rose by 34.9%, on an organic basis, to 2.714 billion euros. Safran reaffirmed its 2023 full-year forecasts for revenues of at least 23 billion euros, recurring operating income around 3 billion euros and free cashflow of at least 2.5 billion. But the engine maker said the main risk factor remained supply chains, led by shortages of materials and labour. Andries said all metals were on the company's watch list for possible supply disruptions, notably steel.

☆ French company Safran keeps 2023 outlook as Q1 sales rise
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

PARIS, April 26 (Reuters) - France's Safran (SAF.PA) kept its 2023 financial outlook unchanged as it reported sharp growth in quarterly revenues, buoyed by a swift recovery in air traffic demand. Safran, which provides engines for Boeing (BA.N) and Airbus (AIR.PA) narrow-body jets through its CFM International joint venture with General Electric (GE.N), said first-quarter revenues rose 24.7% on an organic basis to 5.266 billion euros ($5.78 billion). Core propulsion revenues rose by 34.9%, on an organic basis, to 2.714 billion euros, the company said on Wednesday. Safran reaffirmed its 2023 full-year financial outlook, namely for revenues of at least 23 billion euros, recurring operating income of around 3 billion euros and a free cash flow of at least 2.5 billion euros. The engine industry and other parts of the aerospace supply chain have, however, been hit by labour and parts shortages.

☆ U.S. DOT says Republican budget plan would cut rail inspections, shut air traffic towers
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, April 26 (Reuters) - The U.S. Department of Transportation (DOT) on Wednesday said a Republican budget cut proposal would shut down 375 federally-staffed and contract-run air traffic control towers around the country and result in 7,500 fewer rail safety inspection days. Overall, it said the Republican plan, which would sharply reduce budget spending in exchange for a short-term increase in the debt ceiling, would reduce funding for U.S. transit and highway infrastructure projects by nearly $5.2 billion. The White House has said President Joe Biden would veto the legislation, and has called on Congress to raise the debt limit without conditions. "House Republicans’ proposal would slash funding for programs the American people depend on in their everyday lives, including funding that’s vital for ensuring transportation safety and improving our country’s infrastructure," DOT said in a factsheet. It said the plan would also shut down services at some 375 of about 550 air traffic control towers, potentially increasing security wait times at Transportation Security Administration check points by over two hours.

☆ No flight cancellations expected during largest NATO air drill in history
▼ + stars: | 2023-04-25 | by ( ) www.reuters.com time to read: +1 min

Air Defender 23 will be one of the largest air drills in NATO history, with 25 countries taking part in the joint exercise in German, Dutch and Czech airspace. It will use air corridors that have often been used for training purposes, according to the German air force. Air traffic control strikes in France and elsewhere have exacerbated that limited airspace, increasing fears of costly cancellations and delays across the continent. Germany's aviation sector in particular was concerned about the exercise's detrimental impact on commercial aviation. "Coordinated action will allow this major military event to take place while, at the same time, accommodating civil air traffic with the lowest possible impact in terms of air traffic delays and re-routing actions," Eurocontrol added.

☆ JetBlue posts quarterly loss but forecasts profit thanks to strong travel demand
▼ + stars: | 2023-04-25 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

JetBlue Airways posted a loss for the first three months of the year but joined other carriers in forecasting a profit for the second quarter thanks to strong travel demand. Here's how JetBlue performed in the first quarter compared with Wall Street expectations based on Refinitiv consensus estimates:Adjusted loss per share: 34 cents vs. 38 cents expected. 34 cents vs. 38 cents expected. Revenue: $2.33 billion vs. $2.32 billion expected. Adjusting for one-time items, JetBlue had a loss of $111 million, or 34 cents per share, better than the loss of 38 cents a share analysts expected.

CNN —The two rival forces battling for control in Sudan have both said they are ready to help evacuate foreign nationals, raising hopes international powers could soon rescue stranded citizens after a week of fighting. On Friday, the Rapid Support Forces (RSF) said they were ready to partially reopen all airports in Sudan to air traffic to allow countries to evacuate their nationals. Fierce fighting broke out in Sudan last Saturday between the Sudan Armed Forces (SAF), commanded by Sudan’s military leader General Abdel Fattah Al-Burhan and the paramilitary RSF, led by Mohamed Hamdan Dagalo. The State Department does not keep official counts of US citizens in foreign countries and Americans are not required to register when they go abroad. US State Department officials told staffers estimated 16,000 American citizens in Sudan, most of whom are dual nationals.

☆ A United Airlines flight declared an emergency after an 'unlatched' cockpit window 'popped open' in mid-air, reports say
▼ + stars: | 2023-04-22 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

A United Airlines flight from Connecticut to Washington DC made an emergency landing Tuesday. In a recording, a United pilot told air traffic control that the plane's window "popped open." A United Airlines flight was forced into an emergency landing after a cockpit window reportedly "popped open" in mid-air. An airline representative told Insider that the jet had to return to the airport to "address an unlatched cockpit window. "We've had a window pop open after take-off," the pilot said, adding that there were 178 "souls" on board the plane.

London CNN —Europe’s air traffic control authority says it has been battling an ongoing attack, claimed by pro-Russian hackers, since Wednesday. There hasn’t been any impact on flights, though access to its website has been affected, according to the European Organization for the Safety of Air Navigation, or Eurocontrol. “There has been no impact on European aviation.”The International Air Transport Association also said air traffic was operating normally. “There has been no inconvenience to commercial air traffic, no disruption and no delays because of the cyberattack,” the industry group said. European countries have provided military assistance to Ukraine and imposed a raft of sanctions on Russia aimed at crippling its ability to wage war.

Charles de Gaulle airport is negatively affected, both as a destination and as a hub," said Olivier Ponti, VP of Insights at travel data firm ForwardKeys. Some 33,300 flights were cancelled this year over Easter, compared with 7,800 last year, while 9,000 flights were delayed by more than three hours, compared to 6,800 last year. Around 73% of flights were on time, compared with 76% in 2022 and 81% in 2019. There were 33,700 flights cancelled, compared with 26,600 last year, while 10,800 flights, which made up 1% of all total flights, were delayed by more than three hours, up from 9,500 last year. Air traffic authority Eurocontrol previously warned that delays could continue into the northern hemisphere summer, especially if strikes keep going.

United Airlines — The airline lost 0.9% in the premarket after it announced a net loss for the first quarter. The company reported $11.43 billion in revenue, slightly above the $11.42 billion estimated. The company posted earnings per share of $1.35, which fell below the $1.41 consensus estimate from analysts polled by Refinitiv. Ally Financial — The digital financial services company's shares were down 1.3% after its first quarter earnings and revenue missed Wall Street's expectations. The company reported adjusted earnings per share of $1.23, topping against a consensus estimate of $1.20 per share, according to FactSet.

☆ SpaceX readies for another attempt to launch Starship, the most powerful rocket ever built
▼ + stars: | 2023-04-19 | by ( Jackie Wattles | ) edition.cnn.com time to read: +5 min

The Starship spacecraft, which stands at 164 feet (50 meters) tall, rides atop the rocket. The Starship rocket sits on the SpaceX Starbase in Boca Chica, Texas, on April 15, 2023. In the lead-up to the first launch of the company’s Falcon Heavy rocket, which held the title of most powerful rocket before NASA’s Space Launch System took flight last year, Musk foresaw only a 50-50 chance of success. “People (came) from all around the world to see what will either be a great rocket launch or the best fireworks display they’ve ever seen,” Musk told CNN at the time. The inaugural Falcon Heavy launch in 2018 was ultimately successful.

☆ Factbox: What's in Republican McCarthy's debt-limit spending cut package?
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +4 min

SPENDING RESTRAINTSThe plan would cut a wide swath of government spending to last year's levels, a decrease of about 9%. It is not clear how the spending caps would affect specific government operations, from air traffic control to housing to the military. The caps would reduce spending in real terms as they would not keep up with projected inflation and population growth. CLAW BACK UNSPENT COVID-19 FUNDSThe plan would cancel the remaining funds from the $5.2 trillion Congress approved between 2020 and 2022 to fight COVID-19. TIGHTEN WORK REQUIREMENTSThe plan would stiffen work requirements for participants in some antipoverty programs.

☆ Earnings playbook: Netflix and Goldman Sachs headline a big week of reports
▼ + stars: | 2023-04-16 | by ( Fred Imbert | ) www.cnbc.com time to read: +14 min

Tuesday Johnson & Johnson is set to report earnings before the open, followed by a call with management at 8:30 a.m. Goldman Sachs is set to report earnings before the open, followed by a call at 9:30 a.m. What history shows: Bespoke data shows Goldman tops earnings expectations 86% of the time. Netflix is set to report earnings after the bell, followed by a call with management at 6 p.m. Friday Procter & Gamble is set to report earnings before the open, with a conference call also slated for 8:30 a.m.

CHICAGO, April 13 (Reuters) - Delta Air Lines (DAL.N) on Thursday posted weaker-than-expected earnings in the first quarter, hit by a severe winter storm that drove up operational expenses for the carrier. CEO Bastian said on a post earnings call that Delta expects to bring down non-fuel costs in the second half of the year. For the June quarter, Delta expects its revenue to rise 15% to 17% from a year earlier on capacity growth of 17%. "We're growing supply at that level and not seeing a deterioration in the overall revenue," Bastian said. Delta expects an adjusted profit of $2.00 to $2.25 per share in the second quarter, with an operating margin of 14% to 16%.

Higher costs and a shortage of available new parts are also delaying aircraft repairs, which risk pushing up air fares. Some makers of brand-name parts like General Electric Co (GE.N) stand to benefit because they also sell used parts, known as used serviceable material. Honeywell Aerospace Trading (HON.O), the U.S. conglomerate's used parts business, is among companies enjoying higher demand since 2021. Ultimately, the alternatives to new parts may bring relief but a congested supply chain must be fixed, said Benjamin Hockenberg, president of JSSI Parts & Leasing. "Certain models, certain situations, (used parts) will fill the void, but I think we also need to see a repaired supply chain," said Hockenberg.

☆ Old planes get stripped for parts while airlines wait on new jets
▼ + stars: | 2023-04-13 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

COOLIDGE, Arizona – From engines to landing gear, the hunt is on for aircraft parts as airlines prepare their jets for swarms of summer travelers, with new planes from Boeing and Airbus still in short supply. The search for parts leads some aircraft owners here, where older, retired planes are stripped for parts that will be prepared to fly on other planes or repurposed altogether. The current demand for aircraft parts is the result of the industry's deep demand swings resulting from the Covid pandemic. With deliveries of new jets behind schedule, airlines are holding onto planes longer, repairing or overhauling them, adding to demand for parts and labor. Airbus A320 landing gear in a repair shop in Marana, Arizona.

☆ Eruption in Russia's Kamchatka threatens aviation -response team
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +1 min

April 11 (Reuters) - The Shiveluch volcano in Russia's far eastern Kamchatka Peninsula erupted early on Tuesday and sent up an ash plume 10 kilometers (six miles) high, posing an increased threat to air traffic, the Kamchatka Volcanic Eruption Response Team (KVERT) said. The team issued a code red Volcano Observatory Notice for Aviation, noting that a "large ash cloud" was drifting west of the volcano and that ash explosions up to 15 kilometers high could occur at any time. Bondarenko said the volcano erupted at 6:31 a.m. local time and that the cloud spread over Klyuchi and Kozyrevsk, villages more than 70 kilometers apart. Ash had started to fall on Klyuchi and Mayskoye, which lies about halfway between the two. "Residents are advised to stay indoors and avoid unnecessary travel," he added.

☆ 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.

Strikes have rolled through France, Portugal, Britain and Germany in recent weeks and could cause air travel disruption in parts of Europe through the Easter holidays, officials at airlines, airports and air traffic authorities told Reuters. There's no doubt about it," said Steven Moore, who is in charge of air traffic management operations at Eurocontrol. Airlines say they have to pay compensation without themselves getting compensated for air traffic delays. Consumer groups say air traffic control strikes are not new and airlines should be quicker to react and pay compensation. He called last week on the European Commission to do more to stop such strikes hitting overflights, by introducing minimum service rules, though industry experts say strikes are a national issue.

☆ United will cut some New York-area, D.C. flights after US waiver
▼ + stars: | 2023-04-06 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Daily flights between Newark and Ronald Reagan Washington National Airport will drop to 10 from 18. Daily departures from New York LaGuardia Airport to Washington Dulles International Airport will decrease to six from nine. United could cut more flights beginning in June. Airlines have already cut about 10% of scheduled flights this spring to address performance issues, said trade group Airlines for America. Last summer air traffic control staffing was a factor in delays of 41,498 flights from New York airports, the FAA disclosed in March.

☆ American Airlines will cut some New York flights this summer
▼ + stars: | 2023-04-03 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, April 3 (Reuters) - American Airlines (AAL.O) said Monday it will join other major carriers in temporarily cutting some New York City area flights this summer after the Federal Aviation Administration temporarily relaxed some minimum flight requirements. Air travelers could face another rough summer as carriers struggle to meet burgeoning flight demands after the pandemic. The airline added "it is disappointing to reduce flights for customers as they plan their summer holidays and as New York City works to rebound from the pandemic." Airlines have already cut about 10% of scheduled flights this spring to address performance issues, said trade group Airlines for America. Last summer air traffic control staffing was a factor in delays of 41,498 flights from New York airports.

Search resuls for: "Air Traffic"

25 mentions found