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☆ Boeing 737 MAX monthly deliveries fall to lowest since 2021
▼ + stars: | 2023-10-10 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

[1/2] The Boeing 737 MAX aircraft is displayed at the Farnborough International Airshow, in Farnborough, Britain, July 20, 2022. Boeing is inspecting and fixing thousands of holes that were drilled wrong on the 737 MAX aft pressure bulkhead. While new orders improved sharply, the largest U.S. planemaker said deliveries in September fell to 15 737 MAX planes, 10 787s and two 777s, for a total of 27 deliveries. The monthly number of MAX 8 and MAX 9 deliveries was the fourth-lowest since deliveries resumed in December 2020 after a worldwide grounding following two MAX crashes in 2018 and 2019 that killed 346 people. The planemaker said in July the first delivery of the 737 MAX 7 had been delayed to 2024.

Persons: Peter Cziborra, planemaker, David Shepardson, Tim Hepher, Nick Zieminski, David Gregorio Our Organizations: Boeing, Farnborough, REUTERS, Rights, United Airlines, Air Canada, Airbus, Carriers, Federal Aviation Administration, Thomson Locations: Farnborough, Britain, U.S

The Coast Guard has recovered remaining debris from a submersible that imploded on its way to explore the wreck of the Titanic, killing all five onboard, deep beneath the Atlantic Ocean's surface, officials said Tuesday. The salvage mission conducted under an agreement with the U.S. Navy was a follow-up to initial recovery operations on the ocean floor roughly 1,600 feet (488 meters) away from the Titanic, the Coast Guard said. It said Tuesday that the recovery and transfer of remaining parts was completed last Wednesday, and a photo showed the intact aft portion of the 22-foot (6.7-meter) vessel. Investigators believe the Titan imploded as it made its descent into deep North Atlantic waters on June 18. The Coast Guard previously said it recovered presumed human remains along with parts of the Titan after the debris field was located at a depth of 12,500 feet (3,800 meters).

Persons: Titan Organizations: Coast Guard, U.S . Navy, The Coast Guard, Guard’s Marine Board, Investigation, Stockton Rush

☆ Image shows the last remaining debris from the Titan submersible implosion recovered by the Coast Guard
▼ + stars: | 2023-10-10 | by ( Associated Press | ) www.businessinsider.com time to read: +3 min

The final debris from the Titan submersible's implosion was recovered by US Coast Guard officials. More presumed human remains were also found from within the debris and will be examined. The Coast Guard said that the recovery and transfer of remaining parts was completed last Wednesday, and a photo showed the intact aft titanium endcap of the 22-foot (6.7-meter) vessel. Additional presumed human remains were carefully recovered from within Titan's debris and transported for analysis by U.S. medical professionals, the Coast Guard said. AdvertisementAdvertisementThe Coast Guard previously said it recovered presumed human remains along with parts of the Titan after the debris field was located at a depth of 12,500 feet (3,800 meters).

Persons: —, Titan, OceanGate Organizations: US Coast Guard, Service, Guard, Coast Guard, U.S . Navy, Investigators, Guard's Marine Board of Investigation, U.S . National Transportation Safety Board, Transportation, Board of Canada, Board of Investigation, Stockton Rush

A Boeing 737 MAX-10 lands over the Spirit AeroSystems logo during a flying display at the 54th International Paris Air Show at Le Bourget Airport near Paris, France, June 22, 2023. Shanahan, who has served on the company's board since November 2021, will become interim CEO effective immediately, Spirit announced Monday. Spirit said its board will conduct a search to identify a new CEO, while Gentile will stay on as a consultant for three months. Gentile was named Spirit's CEO in August 2016, months after he joined the company as its chief operating officer. Over a 31-year career at Boeing, Shanahan was known as "Mr. Fix-It" for his ability to turn around poorly-performing programs.

Persons: Benoit Tessier, Patrick Shanahan, Tom Gentile, Shanahan, Spirit, Gentile, Richard Aboulafia, Aboulafia, Jim Mattis, Alex Krutz, Abhijith, Valerie Insinna, Shailesh Kuber, Sharon Singleton Organizations: Boeing, International Paris Air, Le, REUTERS, Pentagon, Spirit, Airbus, Patriot Industrial Partners, Aerospace Industries, Thomson Locations: Le Bourget, Paris, France, Kansas, Wichita , Kansas, Bengaluru, Washington

“Age is just a number,” Dorothy Hoffner told a cheering crowd moments after touching the ground Sunday at Skydive Chicago in Ottawa, about 85 miles (140 kilometers) southwest of Chicago, the Chicago Tribune reported. The Guinness World Record for oldest skydiver was set in May 2022 by 103-year-old Linnéa Ingegärd Larsson from Sweden. But Skydive Chicago is working to have Guinness World Records certify Hoffner's jump as a record, WLS-TV reported. “Wonderful,” Hoffner said. After her jump, Hoffner's mind quickly turned to the future and other challenges.

Persons: Dorothy Hoffner, Ingegärd Larsson, Hoffner, “ Let’s, let’s, Geronimo, ” Hoffner, who's, “ I’ve, ” Organizations: Ill, Skydive Chicago, Chicago Tribune, Guinness, Records, U.S . Parachute Locations: OTTAWA, Chicago, Illinois, Ottawa, Sweden

☆ F.A.A. Spells Out Needed Fixes for SpaceX’s Starship Rocket
▼ + stars: | 2023-09-08 | by ( Kenneth Chang | More About Kenneth Chang | ) www.nytimes.com time to read: +2 min

A Number That Sums It Up: 63 Corrective ActionsThe first Starship test flight successfully lifted off on April 20. said the 63 corrective actions described in the final investigation report included redesigns of the rocket to prevent leaks and fires and additional analysis and testing of safety systems including the flight termination system. The investigation report is not being released publicly because it includes propriety information belonging to SpaceX and also data restricted by United States export controls, the F.A.A. reviewed the SpaceX report and concurred with the company’s findings and closed the investigation. What the Last Launch Looked LikeVideo by SpaceX captured the massive rocket’s liftoff and the moment when the rocket began to tumble out of control before it blew up.

Organizations: SpaceX, Super, United Locations: of Mexico, United States

A Boeing logo is seen at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 18, 2023. The recent supplier problem, discovered late last month, involves fastener holes on the 737 aft pressure bulkhead that were improperly drilled and therefore misaligned or elongated. Spirit AeroSystems (SPR.N), which makes the 737 fuselage, said in August it had corrected the production issue and continues to deliver fuselages to Boeing. Despite continued supplier defects, West said Boeing has no intention of changing its supplier master schedule, which calls for Boeing's supply chain to ramp to a monthly production rate of 50 737s by the 2025-2026 timeframe. Reporting by Valerie Insinna and Abhijith Ganapavaram; Editing by Mark Porter and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Benoit Tessier, Brian West, West, Valerie Insinna, Mark Porter Organizations: Boeing, Paris, REUTERS, Rights, Thomson Locations: Le Bourget, Paris, France

☆ South Korea is working on an 'arsenal ship' in case it has to shower North Korea with missiles
▼ + stars: | 2023-08-31 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +9 min

If completed, they would be the first arsenal ships ever built and would mark another accomplishment for South Korea's burgeoning defense industry. AdvertisementAdvertisementThe arsenal shipAn illustration of a possible arsenal ship published in the US Navy's All Hands magazine in May 1995. South Korean interestA North Korean Hwasong ICBM in March 2022. Given the number and types of missiles South Korea's arsenal ships would carry, they could be involved in all three axes — all while staying mobile. AdvertisementAdvertisementHanwha Ocean's arsenal shipFew details about South Korea's arsenal ship program have been released.

Persons: Shoup, Neil Mabini, Haeseong Organizations: South, North, Service, International Maritime Defense Industry, South Korean, South Korea's Ministry of National Defense, US Navy, US, Russian Navy, Navy, RIM, MGM, Tactical Missile System, Air Force, Getty, Korea Air and Missile Defense, Korean, Daewoo Shipbuilding, Marine Engineering, Naval News, South Korea Defense Ministry, NUR Locations: North Korean, Wall, Silicon, South Korean, Busan, Soviet Union, Korean, Korea, Seoul, South Korea

Boeing 777X and Boeing 737 MAX 10 airplanes are seen parked in an aerial view at King County International Airport-Boeing Field in Seattle, Washington, U.S, June 1, 2022. REUTERS/Lindsey Wasson/File Photo Acquire Licensing RightsAug 24 (Reuters) - Boeing shares (BA.N) fell 2% before the bell on Thursday after the U.S. planemaker warned of delays in near-term deliveries of 737 MAX jets due to a fresh quality issue involving its biggest supplier Spirit AeroSystems (SPR.N). The latest quality issue is due to improperly shaped holes in the aft pressure bulkhead of some planes. The parts in question were made by Spirit, whose shares were down 6.4% in premarket trading on Thursday. But not all 737 fuselages will be impacted as Spirit uses multiple suppliers for the aft pressure bulkhead.

Persons: Lindsey Wasson, planemaker, Jason Gursky, Boeing's, Abhijith, Arun Koyyur Organizations: Boeing, King County International Airport, Boeing Field, REUTERS, U.S, Citi, Airbus, Thomson Locations: Seattle , Washington, U.S, Bengaluru

☆ Stocks making the biggest moves in the premarket: Nvidia, Boeing, Splunk and more
▼ + stars: | 2023-08-24 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Adjusted earnings came in at $2.70 per share, ahead of the $2.09 estimate expected from analysts polled by Refinitiv. Snowflake posted 22 cents adjusted earnings per share on $674 million in revenue. AutoDesk reported adjusted earnings of $1.91 per share on $1.35 billion in revenue. Adjusted earnings per share of 6 cents was in line with expectations and revenue slightly beat, per StreetAccount. However, Petco's full-year guidance for adjusted EPS and adjusted earnings before interest, taxes, depreciation and amortization fell short of consensus estimates.

Persons: Splunk, FactSet, Snowflake, Refinitiv, —, Carlos Alberini, Petco's, amortization, CNBC's Hakyung Kim, Pia Singh, Sarah Min, Michelle Fox, Jesse Pound Organizations: Nvidia, Refinitiv, Wall, Taiwan Semiconductor, AMD, Marvell Technology — Semiconductor, Devices, Marvell Technology, Broadcom, Boeing —, AutoDesk, Petco, Wellness Locations: Wall Street

☆ Stocks making the biggest moves midday: Nvidia, Boeing, Splunk, Dollar Tree and more
▼ + stars: | 2023-08-24 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Nvidia - The chipmaker's stock climbed more than 1% to a record high after the company reported a beat on the top and bottom lines. Splunk — The cloud stock climbed 13.6% after the company beat Wall Street expectations for second-quarter earnings and raised its guidance. Autodesk — Shares added 3.1% after Autodesk reported an earnings beat and higher forward guidance. Snowflake — Snowflake dipped more than 5% in midday trading even after after reporting an earnings beat. Guess — The apparel company soared more than 28% after reporting an earnings beat, highlighted by an adjusted 72 cents per share and revenue of $664.5 million.

Persons: Marvell, Max, Refinitiv, Wolfe, Splunk, —, Alex Harring, Yun Li, Michelle Fox Organizations: Nvidia, AMD, Marvell Technology, Boeing —, Boeing, Discover Financial, Bank of America, Autodesk, Refinitiv Locations: Santa Clara , California

FILE PHOTO-A Boeing 737 MAX-10 performs a flying display at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 20, 2023. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsAug 23 (Reuters) - Boeing (BA.N) has recently identified a new 737 MAX supplier quality problem involving improperly drilled holes on the aft pressure bulkhead, the company said on Wednesday. Boeing said the new problem could delay near-term deliveries and is evaluating whether it could cause it to miss its annual delivery target of at least 400 737s this year. Trade publication The Air Current, which first reported on the production flaw, said Spirit AeroSystems (SPR.N) was responsible for the misdrilled holes. The defect is limited to Boeing's bestselling MAX 8 model, and it is unclear how many jets will need to be fixed or how long rework will ultimately take, Boeing said.

Persons: Benoit Tessier, Valerie Insinna, Chris Reese Organizations: Boeing, Paris, REUTERS, Federal Aviation Administration, Thomson Locations: Le Bourget, Paris, France

☆ Boeing says a new 737 Max flaw will slow airplane deliveries
▼ + stars: | 2023-08-23 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

A person with an umbrella walks by a Boeing 737 Max fuselage parked outside the company's production facility in Renton, Washington, January 10, 2020. Boeing said a new manufacturing flaw on its best-selling 737 Max will delay deliveries of its best-selling aircraft, the latest setback as the company tries to hand over more planes. The company said it found fastener holes on the aft pressure bulkhead on some 737 planes were improperly drilled. "This issue will impact near-term 737 deliveries as we conduct inspections to determine the number of airplanes affected, and complete required rework on those airplanes," Boeing said. Boeing didn't say whether the new issue would change its forecast to deliver between 400 and 450 Max jets this year.

Persons: Max, Aerosystems Organizations: Boeing, Max, Airbus, The Air, Federal Aviation Administration Locations: Renton , Washington

A Boeing 737 MAX-10 lands over the Spirit AeroSystems logo during a flying display at the 54th International Paris Air Show at Le Bourget Airport near Paris, France, June 22, 2023. The new labor agreement will add $80 million to annual costs, Spirit said. In the second quarter, the company absorbed $28.3 million in cost related to the new labor deal as well as $7.3 million in strike disruption charges. However, the strike did impact our production and deliveries, as reflected in earnings and cash flow," Chief Executive Officer Tom Gentile said. Cash burn was $211 million for the three months through June, the company said, compared to $79 million a year earlier.

Persons: Benoit Tessier, Spirit, Tom Gentile, Cash, Refinitiv, Abhijith Ganapavaram, Valerie Insinna, Sriraj Kalluvila, Mark Porter Organizations: Boeing, International Paris Air, Le, REUTERS, International Association of Machinists, Aerospace Workers, Airbus, Revenue, Thomson Locations: Le Bourget, Paris, France, Wichita , Kansas, Wichita

☆ As student loan payments restart, can employers be a firewall for borrowers? Some groups hope so
▼ + stars: | 2023-07-17 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Kate_sept2004 | E+ | Getty Images17% of employers offer some kind of student loan aidFew employers offer student loan benefits, which can take many forms. Seventeen percent offer some type of student loan assistance, according to a 2021 survey by the Employee Benefit Research Institute. The most popular workplace programs don't offer direct relief for student loan payments. The expanded tax break for student loan payments is temporary, however. Starting in 2024, employers will also be allowed to pay a 401(k) match to borrowers making student loan payments, a provision enacted by a 2022 law known as Secure 2.0.

Persons: Will Hansen, We're, Derrick Johnson, Johnson, Luis Alvarez, SHRM, We've, Randi Weingarten, " Hansen Organizations: Research, of America, NAACP, Digitalvision, Getty, American Federation of Teachers Locations: Albuquerque , New Mexico, Washington, Orange County , Florida

☆ Boeing warns new defect on 787 Dreamliners will slow deliveries
▼ + stars: | 2023-06-06 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Boeing on Tuesday warned about a new defect on its 787 Dreamliner planes and that it will delay deliveries of the wide-body aircraft, the manufacturer's latest production issue. "We are inspecting 787s in our inventory for a nonconforming condition related to a fitting on the horizontal stabilizer," Boeing said in a statement. Near-term deliveries will be delayed by about two weeks, Boeing said. Boeing had paused deliveries of the planes for several weeks earlier this year because of a separate problem on a fuselage component on certain 787s. The latest issue currently doesn't affect Boeing's full-year outlook for Dreamliner deliveries, the company said.

Persons: Aerosystems Organizations: Boeing Co, Boeing Locations: North Charleston , South Carolina

☆ The GOP's bill to permanently block Biden's student-debt relief could cause public servants' loan balances to unexpectedly balloon if it passes, advocacy groups say
▼ + stars: | 2023-05-23 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The SBPC and AFT released a report analyzing the impacts of a GOP bill to overturn student-debt relief. GOP Rep. Virginia Foxx rejected that idea during a hearing last week as Democrats said loans would be reinstated under the bill. However, the text of the CRA statute could suggest the GOP bill might do far more than block Biden's broad debt relief and the student-loan payment pauses. "This resolution will unwind debt relief already delivered to hundreds of thousands of public service workers across the country. The report also estimates that two million public servants making progress toward payments in PSLF could lose "at least some progress toward relief."

☆ Boeing deliveries fall by half in April due to 737 MAX bracket defect
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, May 9 (Reuters) - Boeing Co (BA.N) deliveries fell to 26 airplanes in April, less than half of the previous month's total, after a manufacturing defect forced the company to halt some shipments of its bestselling 737 MAX passenger jet. Deliveries of the MAX, which had climbed to 52 narrowbody jets in March, dropped to 17 planes last month. That left passenger jet deliveries for the U.S. planemaker at their lowest level since July 2022, as well as below the 35 planes delivered last April. Boeing Chief Financial Officer Brian West told investors in an earnings call last month that MAX deliveries would slow through the second quarter, but then grow to about 40 jets per month, with sequential quarterly improvement in the second half. Boeing has delivered 156 jets over the first four months of 2023, including 128 MAXs.

☆ A cruise ship passenger found a hidden camera that had filmed over 150 people changing or using the bathroom. A man was arrested after the FBI said video showed him setting it up.
▼ + stars: | 2023-05-09 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

A passenger on a Royal Caribbean cruise spotted a hidden camera in a public bathroom. The FBI said the video showed adults and minors as young as 4 years old changing. A man was arrested Wednesday after officials say he set up a hidden camera in a public cruise ship bathroom and recorded more than 150 people, including minors, before another passenger spotted it, court records showed. The camera was placed in a public bathroom on the top deck of the Harmony of the Seas. In 2018, a couple from Florida said they found a hidden camera pointing at the bed of their cabin on a Carnival cruise ship.

☆ Boeing supplier Spirit Aero flags $31 million hit from 737 fuselage defect
▼ + stars: | 2023-05-03 | by ( Valerie Insinna | Abhijith Ganapavaram | ) www.reuters.com time to read: +3 min

(Reuters) -Spirit AeroSystems Holdings Inc said on Wednesday it expects a $31 million hit to full-year gross profit from disruptions and rework related to a Boeing 737 MAX fuselage production problem, and that more related costs are anticipated. “Additional costs are expected, including costs Boeing may assert to repair certain models of previously delivered units in their factory and warranty costs related to affected 737 units in service,” Spirit said. Rework costs for affected 737 fuselages at Spirit’s Wichita, Kansas-based production facility are projected to amount to $5 million, an expense of about $100,000-$150,000 per plane. The company has also started to build and deliver production-conforming 737 fuselages under a revised process, it said. Losses on the A220 amounted to about $81 million, including $46 million in non-recurring supply chain costs as well as other costs related to production schedule changes.

☆ Spirit AeroSystems takes $110 million in charges, profit hit on Boeing 737
▼ + stars: | 2023-05-03 | by ( Valerie Insinna | Abhijith Ganapavaram | ) www.reuters.com time to read: +3 min

WASHINGTON (Reuters) -Spirit AeroSystems Holdings Inc on Wednesday took a hefty $110 million loss in reach-forward charges on Airbus and Boeing jet production and expects a further hit of $31 million to full-year gross profit from disruptions related to a Boeing 737 MAX fuselage production problem. Slideshow ( 2 images )The company announced $110 million in charges on the Airbus A220, Airbus A350 and Boeing 787 during its first-quarter results. Spirit now expects cash burn of about $100 million to $150 million in 2023 due to the risk of lowered 737 fuselage deliveries. The company has also started to build and deliver production-conforming 737 fuselages under a revised process, it said. Cash burn was $69 million in the first quarter, compared with a cash burn of $298 million a year ago.

[1/2] Airplane fuselages bound for Boeing's 737 Max production facility sit in storage at their top supplier, Spirit AeroSystems Holdings Inc, in Wichita, Kansas, U.S. December 17, 2019. "Additional costs are expected, including costs Boeing may assert to repair certain models of previously delivered units in their factory and warranty costs related to affected 737 units in service," Spirit said. Rework costs for affected 737 fuselages at Spirit's Wichita, Kansas-based production facility are projected to amount to $5 million, an expense of about $100,000-$150,000 per plane. The company has also started to build and deliver production-conforming 737 fuselages under a revised process, it said. Boeing CEO Dave Calhoun last week called the 737 manufacturing defect "gnarly" and "difficult to find", but noted that Spirit and Boeing had quickly identified affected planes and begun the rework.

☆ Boeing CEO stands by plans to increase 737 Max production despite recent flaw
▼ + stars: | 2023-04-18 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

A Boeing 737 MAX 8 sits outside the hangar during a media tour of the Boeing 737 MAX at the Boeing plant in Renton, Washington. Boeing 's CEO Dave Calhoun said that a flaw detected in some of its 737 Max planes won't hinder its supply chain plans for increased production of its bestselling jetliner this year. Boeing is also comfortable holding extra stock of aircraft supplies "so our supply chain can keep its pace," Calhoun added. Boeing is also planning to increase production of the planes, a goal that has proved challenging as the supply chain recovers from the pandemic. Calhoun said Tuesday the company is assessing the impact of the issue on 737 Max deliveries and apologized to customers but didn't provide more detail.

☆ Boeing has a delivery problem and it's not good for the airlines that rely on its planes
▼ + stars: | 2023-04-15 | by ( Taylor Rains | ) www.businessinsider.com time to read: +6 min

These include the MAX 7, MAX 8, and the MAX 8200, which is a high-capacity version of the MAX 8 variant. American has 42 MAX planes in its fleet and 88 on order. The carrier has 137 MAX planes in its fleet with firm orders for 417, plus another 147 as options. Though Boeing and its partners are still assessing the impact of the most recent delivery stoppage, delivery delays have become a serious trend for the planemaker. And, Boeing said despite its recent 787 delivery pause, it didn't "anticipate a change to our production and delivery outlook for the year."

☆ Boeing shares tumble as some MAX deliveries halted, airlines fret over impact
▼ + stars: | 2023-04-14 | by ( Aishwarya Nair | ) www.reuters.com time to read: +3 min

April 14 (Reuters) - Boeing Co (BA.N) shares closed down 5.6% on Friday after the planemaker halted deliveries of some 737 MAX jets due to quality-related problems in certain components made by one of its main suppliers. Boeing, together with Spirit, will have to undertake inspections of the affected MAX 7, MAX 8 and MAX 8200 airplanes and fuselages. "Unlike the recent 787 delivery pause in Q1 ... this issue relates to actual non-conforming parts, which will need to be inspected (at minimum) or reworked. "We see more negative financial exposure to this news at Spirit than at Boeing," J.P. Morgan analyst Seth Seifman said. Southwest Airlines (LUV.N) expects the issue to impact its current delivery schedule, while American Airlines (AAL.O) said it was working with Boeing to understand the effect.

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