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☆ Frank Shrontz, 92, Dies; Led Boeing in the Last of Its Golden Years
▼ + stars: | 2024-05-22 | by ( Clay Risen | ) www.nytimes.com time to read: 1 min

Frank Shrontz, a widely admired executive who led Boeing in the 1980s and ’90s, a decade of spectacular growth in both its bottom line and its prestige as one of the world’s premier aerospace companies — a period very different from its current crisis of public confidence — died on May 3 at an assisted living home in Seattle. His son Craig confirmed the death. Although he spent the bulk of his career at Boeing, Mr. Shrontz, who had a law degree and an M.B.A., was an unlikely choice to lead a company that prided itself on letting engineers and not businessmen set the pace. Yet during his time at the helm — he became president in 1985, chief executive in 1986 and chairman of the board in 1988 — he led Boeing through a growth market, a recession and a thorough restructuring that produced one of the most successful commercial aircraft ever put into service, the 777.

Persons: Frank Shrontz, —, Craig, Shrontz Organizations: Boeing, Mr Locations: Seattle

☆ Boeing supplier Spirit AeroSystems lays off workers, citing lower plane delivery rates
▼ + stars: | 2024-05-16 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com time to read: +1 min

Aerospace supplier Spirit AeroSystems on Thursday said it will lay off some of its workers because of slower delivery rates on commercial aircraft as it struggles with a slowdown at its biggest commercial airplane customer, Boeing . Spirit AeroSystems told staff in a memo, reported earlier by Wichita-based KSN, that it would cut about 400 to 450 hourly employees. "We are committed to implementing this transition in as compassionate a manner as possible," Spirit AeroSystems said in a statement. Last week, Spirit AeroSystems said first-quarter Boeing deliveries decreased 31% from the same period in 2023, and said overall deliveries were down 11.3%. About 70% of Spirit AeroSystems' revenue last year came from Boeing, although the company also makes parts for Boeing's rival Airbus .

Persons: AeroSystems, Max, Dave Calhoun Organizations: Boeing, International Paris Air, Le, Aerospace, Airbus, CNBC Locations: Le Bourget, Paris, France, Wichita

CNN —The House has passed a major federal aviation bill that aims to improve aviation safety, enhance protections for passengers and airline workers and invest in airport and air travel infrastructure nationwide. The bill renewing the Federal Aviation Administration’s authority for five years will next head to President Joe Biden to be signed into law. Setting a standard for travel creditsUnder the bill, travel credits issued by airlines in lieu of refunds would have to be useable for at least five years. Increasing cockpit voice recordingCommercial aircraft would have to carry 25-hour cockpit voice recorders under the legislation. The cockpit voice recorder is one of the two black boxes and is currently only required to capture two hours of sound from the cockpit.

Persons: Joe Biden, John F, Republican Sen, Josh Hawley of, Democratic Sen, Elizabeth Warren of Organizations: CNN, Federal Aviation, FAA, National Transportation Safety, Reagan National Airport, American Airlines, Delta Air Lines, Department of Transportation, Republican, Democratic, Transportation, Administration, NTSB Locations: Washington, Kennedy, New York City, Josh Hawley of Missouri, Elizabeth Warren of Massachusetts

☆ Forget Nvidia. Here are 5 undervalued tech stocks every investor should own, Goldman Sachs says
▼ + stars: | 2024-05-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Goldman Sachs said this week that there are plenty of cheap tech stocks to buy coming out of earnings. The information technology sector has reported a year-over-year earnings growth rate of 23.2%, according to John Butters, senior earnings analyst at FactSet. CNBC Pro combed through Goldman Sachs' research to find the most underappreciated buy-rated tech stocks. "Second, ANET has growing confidence in its AI position and its > $750 mn AI revenue target for 2025," he added. Second, ANET has growing confidence in its AI position and its > $750 mn AI revenue target for 2025.

Persons: Goldman Sachs, John Butters, Goldman, Noah Poponak, Poponak, Kash Rangan, Rangan, Michael Ng, Arista's, Ng, ANET Organizations: FactSet, CNBC, Microsoft, Teledyne Technologies, Arista Networks, Arista, TAM, Cloud Titans, Cloud Locations: 2H24

☆ Boeing taps debt market to raise $10 billion: Reuters
▼ + stars: | 2024-04-29 | by ( ) www.cnbc.com time to read: +2 min

The Boeing logo is displayed on a Boeing building on January 8, 2024 in El Segundo, California. Boeing on Monday tapped debt markets to raise $10 billion, after the U.S. planemaker burned $3.93 billion in free cash during the first quarter following slowing production of its best-selling jet, sources familiar with the matter said. Moody's said the rating reflects Boeing's still-strong business profile, which continues to mitigate ongoing weak performance in commercial aircraft, although headwinds surrounding the division could persist through 2026. Boeing will use the bond proceeds to increase its liquidity ahead of maturities on its existing debt load, including $4.3 billion in 2025, S&P wrote on Monday. The deal's bookrunners leading the bond sale include Bank of America , Citi, JPMorgan and Wells Fargo , according to the deal's term sheet.

Persons: Moody's, bookrunners, Wells, Brian West Organizations: Boeing, U.S, Bank of America, Citi, JPMorgan Locations: El Segundo , California, maturities, Wells Fargo

☆ Airbus CFO says A350 plane production increase not tied to Boeing troubles
▼ + stars: | 2024-04-26 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

An Airbus' employee works on an aircraft part of the Airbus A350 at the Airbus Atlantic plant in Bouguenais, near Nantes, western France, on February 29, 2024. Airbus is ramping up production of its A350 aircraft because of consumer demand and not the ongoing crisis at U.S. rival Boeing, according to the French planemaker's chief financial officer. Toulouse-based Airbus on Thursday announced plans to increase its production rate for the long-range aircraft to 12 units per month in 2028. Airbus reported gross commercial aircraft orders of 170 in the quarter, almost half of which were variants of the A350. Airbus is ramping up production of its A350 aircraft because of consumer demand and not the ongoing crisis at U.S. rival Boeing, according to the French planemaker's chief financial officer.

Persons: Thomas Toepfer, CNBC's Charlotte Reed, Toepfer Organizations: Airbus, Boeing Locations: Bouguenais, Nantes, France, U.S, Toulouse

☆ REAL ID requirements are coming next year—here's what U.S. fliers need to know
▼ + stars: | 2024-04-23 | by ( Nicolas Vega | ) www.cnbc.com time to read: +1 min

Domestic fliers have one year left to get REAL ID-compliant documentation before the Department of Homeland Security's new policies go into effect. The REAL ID Act was introduced in 2005 in an effort to tighten the nation's air travel security in the wake of the September 11 attacks. The deadline for REAL ID compliance has been repeatedly delayed since its original 2008 deadline. Once the REAL ID requirement goes into effect, travelers will no longer be able to board domestic flights with an ordinary license. Travelers who go to the airport after May 7, 2025 without a REAL ID-compliant license will not be able to get past security, the DHS website says.

Organizations: Department of Homeland, DHS, Travelers

☆ Former JetBlue CEO Robin Hayes to lead Airbus in North America
▼ + stars: | 2024-04-22 | by ( Samantha Delouya | ) edition.cnn.com time to read: +1 min

CNN —Former JetBlue CEO Robin Hayes will join Airbus as the company’s North American leader. Airbus reported record annual jet orders in 2023, but in a statement Monday, Airbus CEO Guillaume Faury hinted at plans for further expansion in North America. The announcement of Hayes’ Airbus appointment comes just over two months after he left JetBlue, which has a fleet of Airbus planes. “It’s time I put more focus on my health and well-being.”In a statement Monday, Hayes said he was excited and energized to join Airbus after taking time off. As chairman and CEO of the North American business, Hayes will lead Airbus’ commercial aircraft business and oversee the company’s helicopters and space and defense business in the region.

Persons: Robin Hayes, Hayes, Jeff Knittel, Guillaume Faury, Robin, Faury, “, ” Hayes Organizations: CNN —, JetBlue, Airbus, Airbus Americas, Boeing, North Locations: North America

☆ Boeing is betting big on its upcoming $442 million 777X to compete with the popular Airbus A350. Here's how the jets compare.
▼ + stars: | 2024-04-13 | by ( Taylor Rains | ) www.businessinsider.com time to read: +1 min

Boeing's upcoming 777X airliner is set to compete with the Airbus A350 widebody family. The 777-9 has better capacity than the biggest A350 variant, but it has less range and costs more. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe upcoming Boeing 777X is the world's largest twin-engine commercial aircraft in production. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Airbus, Service, Boeing 777X, British Airways, Emirates, Business

☆ How Bombardier is cashing in on business elite's love affair with private jet travel
▼ + stars: | 2024-04-12 | by ( Bob Woods | ) www.cnbc.com time to read: +5 min

They immediately established an ambitious, five-year strategic plan to reposition Bombardier, with a focus squarely on its sturdiest leg: the high-flying business jet and ancillary services industry. Deliveries of business and general aviation aircraft last year topped 4,000 for the first time in more than a decade, the General Aviation Manufacturers Association reported in February. Historically, the business jet market has been cyclical, said Noah Poponak, an analyst for Goldman Sachs, "but it's been hyper-cyclical in the past 20 years." Sales of all business jets were healthy leading into 2020 — and then the Covid pandemic hit. Everyone wanted a business jet and was willing to buy whatever was out there, new or used."

Persons: headwinds, Bombardier's, Alain Bellemare, divesting, Éric Martel, Bart Demosky, Demosky, Warren Buffett's Berkshire Hathaway, CFOs, Noah Poponak, Goldman Sachs, Walter Spracklin, Spracklin Organizations: Bombardier, Boeing, Airbus, General Aviation Manufacturers Association, Challenger, Global, Companies, Honeywell, RBC Capital Markets Locations: Montreal, Warren, Covid

☆ Boeing somehow managed to get itself into even bigger trouble
▼ + stars: | 2024-04-10 | by ( David Goldman | ) edition.cnn.com time to read: +8 min

New York CNN —Boeing has achieved the unthinkable this week: It managed to fall even deeper into crisis. It ultimately approved the planes for shipments to airlines in March 2023 after becoming satisfied that Boeing had fixed the problem. Then, during the first weekend of 2024, part of an Alaska Airlines 737 Max blew off the side of the plane just after take-off, and Boeing has been in crisis mode ever since. In February, pilots on a United Airlines 737 Max reported that the flight controls jammed as the plane landed in Newark, New Jersey. The FAA is allowing the planes to continue flying and Boeing said the problem does not pose an immediate safety risk.

Persons: Sam Salehpour, Salehpour, McDonnell Douglas, Max, Boeing hasn’t, Dave Calhoun, Mike Whitaker, Whitaker, What’s, Boeing’s, Airlines, hasn’t Organizations: New, New York CNN, Boeing, US Federal Aviation Administration, FAA, New York Times, Alaska Airlines, National Transportation Safety Board, United Airlines, Airbus, Airlines Locations: New York, Newark , New Jersey

☆ Can China's Comac break up the Airbus-Boeing duopoly?
▼ + stars: | 2024-04-10 | by ( Nessa Anwar | ) www.cnbc.com time to read: +2 min

China is on a mission to break up the Airbus -Boeing duopoly and it hopes the domestically made Comac C919 will be its first big break into foreign markets. Made by the Commercial Aircraft Corporation of China (Comac), the passenger aircraft has been touted as the "dream of a nation" by Chinese President Xi Jinping. However, there are still several hurdles Comac would need to clear before it could take on the French and American aerospace giants' dominance. "As a customer and operator of China's Comac products, we can get financial support from China's import-export bank, and also central banks," Cham told CNBC in an interview. According to Cham, Comac said it would consider creating aircraft maintenance, repair and overhaul support for its aircraft in Brunei.

Persons: Xi Jinping, Cham, Comac, Adam Cowburn, Cowburn, Brendan Sobie, It's, Brendan Organizations: Airbus, Boeing, Commercial Aircraft Corporation of China, Cham Chi, CNBC, Alton Aviation Consultancy, " Industry, Sobie Aviation, Airlines Locations: China, American, Brunei, Cham, Shanghai

☆ How to limit PFAS in your drinking water and food, according to experts
▼ + stars: | 2024-04-10 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +9 min

“It would be about 25 years before all the PFAS leave your body.”Testing your waterWhat can consumers do right now to limit the levels of PFAS in their drinking water? Filtering your waterIf PFAS levels are concerning, consumers can purchase an under-the-counter water filter for their tap. “The water filters that are most effective for PFAS are reverse osmosis filters, which are more expensive, about in the $200 range,” Andrews said. Reverse osmosis filters can remove a wide range of contaminants, including dissolved solids, by forcing water through various filters. PFAS in food and your homeDrinking water is not the only way PFAS enters the bloodstream.

Persons: Melanie Benesh, “, ” Jane Hoppin, ”, Andrews, PFAS, ” Andrews Organizations: CNN, Environmental Protection Agency, Geological Survey, Environmental, ”, National Academies of Sciences, Engineering, Medicine, Center for Human Health, Environment, North Carolina State University, NSF, National Sanitation Foundation, EWG, US Food and Drug Administration, FDA, Research, Education, Community Health, National Institute of Environmental Health Sciences Locations: United States, polluters, Raleigh, Texas

☆ Toxic ‘forever’ chemicals found in excessive levels in global groundwater, study says
▼ + stars: | 2024-04-08 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +8 min

CNN —Potentially toxic chemicals called PFAS (perfluoroalkyl and polyfluoroalkyl substances) are found in surface and groundwaters around the world at levels much higher than many international regulators allow, a new study found. Groundwater can be contaminated by PFAS from food and consumer products added to landfills as well as from manufacturing facilities. Public concern led to a commitment by manufacturers in 2008 to phase out use of PFOA and PFOS, two of the most widely used chemicals. Generally PFAS concentrations are higher in urban areas or areas that used PFAS products extensively, O’Connell said, but it is also leached into the environment in ways that may not be obvious. “Another example is that PFAS used to be used in ski wax, so pristine environments, where people ski, have PFAS in their waters and soils,” he said.

Persons: Mario Tama, ”, David Andrews, Andrews, ” Andrews, “, Denis O’Connell, O’Connell, ” O’Connell Organizations: CNN, US Environmental Protection Agency, Health Canada, EPA, National Academies of Sciences, Engineering, Medicine . Studies, Environmental, Agency, Toxic Substances, Disease, Nature, University of New, Geological Survey, NSF, National Sanitation Foundation Locations: Mount Everest, Medicine, University of New South Wales, Sydney

☆ Flying cars — or eVTOLs — are becoming reality. Would you ride in one?
▼ + stars: | 2024-04-01 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +36 min

They are flying cars, they're flying cars,Tom Chitty: These vehicles aren't necessarily actually cars with wheels, either, because I know that you've done you've got a program coming up soon about eVTOL. And the idea is there's going to be a fleet of these run by an operator. You've alluded to this feature program we've got coming out looking at the future of these, these flying cars, basically in these eVTOLs. And also, we can't finish this episode about flying cars and eVTOLs without talking about Chitty Chitty Bang Bang, the OG. Yeah, no, that's, that's very surprising.

Persons: Tom Chitty, Arjun Kharpal, who's, I've, we've, We've, I'm, they'd, I'd, there's, Arjun, that's, we're, you've, there'll, they're, You've, Kharpal, it's, you'll, They've, Morgan Stanley, someone's, What's, they've, They're, Big Ben, Chitty Chitty Bang Bang, Chitty Bang Bang, Tom, We'll Organizations: JPMorgan, CNBC, Mar, Airbus, Archer Aviation, Joby, Infrastructure, Boeing, Heathrow Airport, Civil Aviation Administration, U.S . Federal Aviation Administration, FAA, Autonomy, London, Transport Locations: Spain, China, Europe, Munich, Germany, beyondthevalley@cnbc.com, London, Chinese, Guangzhou, Birmingham, U.S, Manchester, it's, eVTOLs, Battersea, Heathrow

☆ Who can fix Boeing? Here are some potential CEO candidates
▼ + stars: | 2024-03-27 | by ( Chris Isidore | ) edition.cnn.com time to read: +12 min

New York CNN —Since its founding by William Boeing more than a century ago, the Boeing Company has had 12 CEOs. What Boeing wants in its new CEOWhen picking a new CEO, the company likely has two pools of choices. Or it can once again pick a leader like outgoing CEO Calhoun, who has a financial background and an undergraduate degree in accounting. Spirit was the only one to comment, but it did not address the possibility of Shanahan becoming Boeing CEO. Culp has an undergraduate degree in economics and an MBA from Harvard, a business background more than an engineering background.

Persons: William Boeing, Dave Calhoun, Calhoun, “, ”, Sir Tim Clark, ” Calhoun, “ It’s, Richard Aboulafia, Pat Shanahan Pat Shanahan, Donald Trump, Shanahan, “ Mr, Joe Buccino, Larry Culp Larry Culp, Jack Welch, Culp, Aboulafia, Kathy Warden Kathy Warden, Northrop Grumman, Northrop, Warden, ” Aboulafia, Mary Barra, Greg Smith Greg Smith, Smith, Alan Mulally Aboulafia, Alan Mulally, Ford, Mulally, It’s, Ron Epstein, ’, Stephanie Pope, Brian West, Pope, West, Elizabeth Lund Organizations: New, New York CNN, Boeing Company, Boeing, Alaska Airlines, Emirates Airlines, CNBC, US Department of Defense, CNN, General Electric, GE Aerospace, GE, Danaher Corp, Harvard, Northrop, General Motors, Barra, American Airlines, Ford, Detroit, GM, DaimlerChrysler, Chrysler, of America, Airplanes, GE Aviation, Services, Boeing Commercial Airplanes Locations: New York, American, Calhoun

☆ 'We need someone to fix Boeing.' Here's who could replace Calhoun as the troubled plane maker's CEO
▼ + stars: | 2024-03-26 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

An aerial photo shows Boeing 737 Max airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, on March 21, 2019. Calhoun told CNBC on Monday that the decision to retire was "100%" his own and that he would be involved in finding his successor. "We need someone to fix Boeing," one major airline executive, who wasn't authorized to speak to the media, told CNBC after Boeing announced the management shake-up Monday. "I want somebody who knows how to handle a big, long-cycled business like ours," Calhoun told CNBC in an interview Monday while announcing his departure. Four-year Boeing board member Steve Mollenkopf, an ex-Qualcomm CEO who will take over as independent chairman of the board, will lead the search.

Persons: Dave Calhoun, Max, Larry Kellner, Stan Deal, Calhoun, wasn't, John Plueger, It's, Steve Mollenkopf, Cowen, Cai von Rumohr, here's Organizations: Boeing, Max, Boeing Factory, Monday, CNBC, Air Force One, Alaska Airlines, Air Lease, Airbus, Financial, Qualcomm Locations: Renton , Washington, China

☆ WindRunner: Gigantic new aircraft design aims to create the largest plane ever to fly
▼ + stars: | 2024-03-19 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +3 min

Larger wind turbines produce more power than standard ones, but the components are too big to be transported by road. Meet the WindRunner airplane, whose mission will be to deliver gigantic 300-foot-long blades directly to wind farms. So WindRunner will have a cargo bay volume of 272,000 cubic feet, enough to hold three Olympic swimming pools. That’s 12 times the volume of a Boeing 747-400 and – at 356 feet in length, it’s 127 feet longer too. Currently, turbine blades today are ordinarily 230 feet or less (70 meters), but Radia wants to deploy blades of up to 104 meters (341 feet).

Persons: CNN —, Radia, Mark Lundstrum, Energy Ernest Moniz, Malcolm Turnbull, It’s Organizations: CNN, Boeing, FAA, Federal Aviation Administration, Bloomberg, XXL, MIT, Radia, Royce, Energy, Beluga XL, Airbus Locations: Colorado, Ukraine

☆ Supersonic Concorde airplane floats down New York’s Hudson River
▼ + stars: | 2024-03-14 | by ( Jeff Winter | ) edition.cnn.com time to read: +1 min

CNN —Concorde, the world’s fastest commercial aircraft, has been making a rare journey – floating down New York’s Hudson River. The British Airways Concorde, one of only 20 of the supersonic aircraft to ever fly, has been en route back to NYC’s Intrepid Museum after being sanded and recoated during several months of restoration. The last ever flight by a Concorde was made on November 26, 2003. That aircraft, known as Delta Foxtrot, is now housed in Aerospace Bristol, an aviation museum in the west of England. Tours of Intrepid’s Concorde will resume on April 4, the museum says.

Persons: CNN’s Barry Neild Organizations: CNN, Concorde, British Airways Concorde, NYC’s Intrepid Museum, Intrepid, British Airways, Singapore Airlines, Intrepid’s Concorde Locations: Hudson, Jersey City , New Jersey, New York, London, Concordes, Paris, Aerospace Bristol, England

☆ Boeing fined $51 million for violating Arms Export Control Act
▼ + stars: | 2024-03-01 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Boeing has agreed to pay $51 million for violating exports controls of military technology, including employees in China downloading sensitive data from numerous defense aircraft and missiles. The State Department found a total of 199 violations of the Arms Export Control Act by Boeing. It faces multiple investigations for a door plug blowing out on a 737 Max flight in January, leaving a gaping hole in the side of the Alaska Airlines flight. The NTSB has yet to determine blame or fault for the door plug incident on the Alaska Air flight. But Boeing CEO Dave Calhoun told investors in January, “We caused the problem, and we understand that.

Persons: ” “, ”, Boeing’s, Max, Dave Calhoun, “ Organizations: New, New York CNN, Boeing, State Department, Alaska Airlines, National Safety Transportation Board, Federal Aviation Administration, Justice Department, FAA, NTSB, Alaska Air Locations: New York, China, Australia, Canada, France, Germany, Hong Kong, India, Italy, Japan, Kenya, Morocco, Russia, Singapore, South Korea, Spain, Thailand, Taiwan, Ukraine, United Kingdom

☆ Project Sunrise: Aircraft delays push back launch date for Qantas’ record-breaking flights
▼ + stars: | 2024-02-22 | by ( Karla Cripps | ) edition.cnn.com time to read: +7 min

CNN —Travelers who were hoping to experience Qantas’ long-awaited, record-breaking ‘Project Sunrise’ flights next year will have to be a bit more patient. Project Sunrise: Australian airline Qantas is gearing up to launch its ultra long-haul "Project Sunrise" flights between Australia and New York City and London. Qantas Business Suites: For the first time, Qantas will add a sliding door to its business class seats for added privacy. The layout includes six first class seats in a 1-1-1 configuration, 52 business class seats in 1-2-1, 40 premium economy seats in 2-4-2 and 140 economy seats in 3-3-3. Business class suites will be 42 inches wide with 25-inch-wide chairs that can be reclined into a two-meter bed.

Persons: ” Christian Scherer, – Organizations: CNN — Travelers, Qantas, Airbus, Sydney, Reuters, CNN, Sunrise, Civil Aviation Safety Authority, Boeing, Australian, Qantas Qantas, Singapore Airlines ’, JFK Locations: Australia, New York, London, Singapore, Sydney, Melbourne, Perth, Sri Lanka, New York City, Singapore Airlines ’ Singapore, JFK

☆ Rolls-Royce shares jump 8% after 2023 profits more than double
▼ + stars: | 2024-02-22 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

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

☆ Airbus says competition from China's Comac C919 is 'not going to rock the boat'
▼ + stars: | 2024-02-20 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

A commercial Aircraft Corp of China (Comac) C919 aircraft operated by China Eastern Airlines during the Singapore Airshow in Singapore, on Tuesday, Feb. 20, 2024. SINGAPORE — China's homegrown airliner may be the latest challenger to Airbus and Boeing's passenger jets, but an executive from Airbus said he's not worried. The Comac C919 is "not going to rock the boat in particular," Christian Scherer, chief executive officer of Airbus's aircraft commercial business, said at a media roundtable on the sidelines of the Singapore Airshow. "It looks a bit like an Airbus narrow body," Scherer said, tongue in cheek, noting that the C919 is "not very different" from what Airbus and Boeing already have in the market. Scherer acknowledged that the C919 was a "legitimate effort" by China — but "the market is large enough for competition, we welcome the competition."

Persons: he's, Christian Scherer, Scherer Organizations: Aircraft Corp of China, China Eastern Airlines, Airbus, Boeing Locations: Singapore, SINGAPORE, China

☆ China will showcase its domestic jetliner at the Singapore Airshow. Here's what else to expect
▼ + stars: | 2024-02-19 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

A model of Comac's C919 aircraft at the Singapore Airshow on Feb. 6, 2018. SINGAPORE — China is gearing up to showcase its narrow-body passenger jet to a global audience for the first time at the Singapore Airshow. Touted as a competitor to Boeing's 737 and the Airbus 320, the Comac C919 is quickly turning out to be one of the most anticipated features at this year's event. "Flying for the first time at the Singapore Airshow, is the C919, a narrow-body airliner developed by Chinese aircraft manufacturer Comac," Singapore Airshow organizer and manager Experia Events said in a statement. The Singapore Airshow is a fantastic opportunity for Comac particularly given the current situation with Boeing," Brendan Sobie of Sobie Aviation told CNBC.

Persons: Experia, Lockheed Martin, Thales, Brendan Sobie, Sobie Organizations: Singapore, Singapore Airshow, Airbus, Commercial Aircraft Corporation of China, Civil Aviation Administration, China, Aerospace, Boeing, Lockheed, Dassault, SAAB, Leonardo, Sobie Aviation, CNBC Locations: SINGAPORE — China, Singapore, China

☆ With no Boeing passenger jets at the Singapore Airshow, Airbus and China take centerstage
▼ + stars: | 2024-02-19 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

An aerial photo shows Boeing 737 MAX airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, U.S. March 21, 2019. SINGAPORE — Boeing will not be bringing any commercial planes to the Singapore Airshow, shifting the spotlight for passenger jets to rival Airbus as well as China's homegrown offering. While there will be aerial displays of commercial liners by Airbus and China's domestic jetliner Comac C919, Boeing will not have any commercial aircraft at the air show. While no commercial jets will be featured, Boeing will still be holding a cabin display of its wide-body 777X passenger plane, which the company claims is the world's largest twin-engine jet. This is the first major international aerospace event since the blowout last month, which pushed Boeing into another safety crisis after the U.S. safety regulators ordered the temporary grounding of more than 170 Boeing 737 Max 9 planes.

Persons: Max, Lockheed Martin, Thales, scuffling Organizations: Boeing, Boeing Factory, SINGAPORE — Boeing, Singapore, Airbus, U.S . Air Force, Lockheed, Dassault, SAAB, Leonardo, Max, Alaska Airlines Locations: Renton , Washington , U.S, SINGAPORE, Portland , Oregon

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