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They expose decades of American corporate philosophy gone awry. A good American company isn’t just a vehicle for financial returns; it is first and foremost an employer, a contributor to economic and/or technological innovation, and a source of US power. But it’s clear that what Boeing — and the entire American corporate body politic — needs is nothing short of a philosophical counterrevolution. Over these three decades of plenty for Boeing’s shareholders, the company’s staff was asked to penny-pinch. Boeing’s stock cratered, and France’s Airbus , a rival once colloquially known as “Scare Bus,” started to eat the American company’s lunch .
Persons: it’s, could’ve, William Lazonick, , It’s, won’t, William McGee, T.A, Wilson, Frank Shrontz, Max, Peter Robison, , , Dave Calhoun, we’ve, Scott Kirby, hasn’t, “ We’re, Lazonick, wasn’t, Milton Friedman, Michael Jensen, Jensen, nary, Jack Welch, Welch, Wall, ” Lazonick, We’ve, Mary Barra, ” McGee Organizations: Alaska Airlines, Boeing, Investments, University of Massachusetts, , NASA, Airbus, Alaska Airlines Max, Wall, United Airlines, Federal Aviation Administration, CNBC, Washington, University of Chicago, Electric, Wall Street, GE, Dow Jones, Securities and Exchange Commission, Reality Labs, Deutsche Bank, Business, General Motors, United Auto Workers, Companies, GM, & $ Locations: Washington, America
“I have a lot of confidence both personally and professionally in David Calhoun and in Brian West,” Ryanair’s Michael O’Leary said Monday, referring to Boeing’s CEO and chief financial officer respectively. Calhoun — who was appointed to the top job in January 2020 as Boeing was already struggling with quality and safety issues — will unveil the planemaker’s full-year results Wednesday. Ryanair CEO Michael O'Leary, left, voiced strong support for Boeing CEO David Calhoun Monday. Partly because of this, Ryanair expects full-year profit for the current financial year to be at the lower end of a range of €1.85 billion-€1.95 billion ($2 billion-$2.1 billion) — trimming a November forecast of up to €2.05 billion ($2.2 billion). That would still be up from its previous record of €1.45 billion ($1.6 billion) earned in 2018, before the Covid-19 pandemic.
Persons: , David Calhoun, Brian West, Michael O’Leary, , Calhoun —, Dennis Muilenberg, Calhoun, Michael O'Leary, Scott Kirby, Kirby, Max, ” O’Leary, we’ll, O’Leary, ” — Organizations: London CNN, Boeing, Ryanair, Lauda, United, Max, Alaska Airlines, US Federal Aviation Administration, CNBC, United Airlines, Reuters, Airbus Locations: US, Austrian, Alaska, American, Toulouse, United Kingdom, Kiwi.com, Europe
Read previewA safety inspection of Alaska Airline's Boeing 737 Max 9 planes revealed "many" loose bolts were found on the commercial airline's fleet. "I'm more than frustrated and angry that this happened to Alaska Airlines," Alaska Airlines CEO Ben Minicucci told Business Insider in a statement. The Alaska CEO's statements come after inspections of the Boeing 737 Max 9 planes following the January 6 incident. United Airlines also previously announced that it had found loose bolts that appear to "relate to installation issues in the door plug." Earlier this month, the agency told reporters that the door plug fitted into the Alaska Airlines plane involved in the incident was found "fractured."
Persons: , Ben Minicucci, Scott Kirby, Max 10s Organizations: Service, Alaska Airline's Boeing, Max, Business, Alaska Airlines, Boeing, NBC News, United Airlines, National Transportation Safety Board, FAA, Forbes, CNBC Locations: Alaska, Portland, Ontario , California
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUnited Airlines CEO: Boeing's 737 Max-9 grounding is 'the straw that broke the camel's back' for usCNBC’s Phil LeBeau and United Airlines CEO Scott Kirby join 'Squawk Box' to discuss the airline's quarterly earnings results, Q1 guidance, 2024 outlook, Boeing's manufacturing challenges, and more.
Persons: Max, Phil LeBeau, Scott Kirby Organizations: Email United Airlines, United Airlines
United has had dozens of Boeing 737 Max 9s grounded since loose bolts were discovered this month. The grounding came after a door plug blew off an Alaska Airlines aircraft mid-flight. Following the incident, the Federal Aviation Administration grounded 171 Boeing 737 Max 9 aircraft for inspections. Inspections at United revealed loose bolts in its Boeing 737 Max 9 aircraft. United on Monday said the company expects a first-quarter adjusted loss of 35 to 85 cents a share due to the Boeing 737 Max 9 grounding.
Persons: Scott Kirby, , Kirby, Max Organizations: Boeing, Max, Alaska Airlines, Bloomberg, Service, United, Federal Aviation Administration, Monday, Business, Boeing's, FAA, Delta Airlines Locations: Alaska
The United Airlines CEO says he is “disappointed” in ongoing manufacturing problems at Boeing that have led to the grounding of dozens of United jetliners, and the airline will consider alternatives to buying a future, larger version of the Boeing 737 Max. United Airlines CEO Scott Kirby said Tuesday that Boeing needs “real action” to restore its previous reputation for quality. United has a standing order for Max 10 jets, a larger version of the Max line. The grounding of the Max 9 jets is likely to further complicate Boeing's drive to get the new models approved. Doing without the Max 10 probably means United won't grow as fast as it had hoped, Kirby added.
Persons: , Scott Kirby, Kirby, Max, United, “ We're, ” Kirby Organizations: United Airlines, Boeing, Max, Alaska Airlines Max, CNBC, Federal Aviation Administration, Airbus Locations: midflight
United Airlines on Monday forecast a first-quarter loss due to the Federal Aviation Administration's grounding of Boeing 737 Max 9 planes this month after a part blew out during an Alaska Airlines flight operated with that type of aircraft. The more common Boeing 737 Max 8, which is in fleets at United, American and Southwest , isn't affected by the grounding order. "Despite unpredictable headwinds, we delivered on our ambitious EPS target that few thought possible — and set new operational records for our customers," said United Airlines CEO Scott Kirby in an earnings release. For the full-year 2024, United forecast adjusted earnings of between $9 and $11 a share, within analysts' estimates. ET on Tuesday when they are likely to face questions about compensation from Boeing for the grounding.
Persons: United, Scott Kirby Organizations: Airlines, Federal Aviation, Boeing, Max, Alaska Airlines, United, LSEG, United Airlines, CNBC PRO Locations: Alaska
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUnited Airlines CEO on holiday travel: 'Probably the best operational year' we've had in 20 yearsCNBC’s Phil LeBeau and United Airlines CEO Scott Kirby join 'Squawk Box' to discuss the holiday travel season, the airline's new early baggage system, new WILMA boarding process, and more.
Persons: we've, Phil LeBeau, Scott Kirby, WILMA Organizations: Email United, United Airlines
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer United Airlines CEO Oscar Munoz on Thanksgiving travel season, best travel tipsFormer United Airlines CEO Oscar Munoz joins 'Squawk Box' to preview this year's Thanksgiving travel season, how airlines are preparing, best travel tips for passengers, and more.
Persons: Oscar Munoz Organizations: Former United Airlines, United Airlines
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer United Airlines CEO on increasing costs, strong travel demand and labor shortagesOscar Munoz, co-chair of the National Association of Corporate Directors Blue Ribbon Commission and former United Airlines CEO, joins 'Power Lunch' to discuss the state of the airline industry.
Persons: Oscar Munoz Organizations: Former United Airlines, National Association of Corporate, Ribbon Commission, United Airlines CEO
They say it will cut revenues of major payment networks, making them pull out of rewards programs. AdvertisementAdvertisementUS airlines are attacking a new bill in Congress that seeks to lower credit card swipe fees, saying it would effectively end most flyer miles programs. AdvertisementAdvertisementIn a statement to Insider, Southwest Airlines said the bill is a "bad policy" that would "undermine, if not completely end, credit card rewards programs." Notably, losing credit card rewards programs could create troubles for airlines that go beyond irate customers missing their free miles. "Their banks and airlines still offer points and miles programs," Durbin told Insider in a statement.
Persons: Sen, Dick Durbin of, Durbin, Ed Bastian, Bloomberg, Scott Kirby, they're, it's, Lance Gooden Organizations: Visa, Mastercard, Morning, Dick Durbin of Illinois, Air, Airlines for, Southwest Airlines, American Airlines, United, European Union, GOP, Democratic, Republican Locations: Airlines for America, European, Texas
United CEO Scott Kirby says a new bill in Congress is putting miles programs on the chopping block. The Credit Card Competition Act, proposed by Sen. Dick Durbin, seeks to lower card swipe fees. "This would kill rewards programs," United CEO Scott Kirby said in an October 18 earnings call. It will kill debit card rewards programs when it happens, and I think it's bad policy." The Credit Card Competition Act, proposed by Sen. Dick Durbin of Illinois, seeks to end what Durbin calls a "Visa-Mastercard duopoly" over credit card transactions.
Persons: Scott Kirby, Sen, Dick Durbin, Kirby, Dick Durbin of, Durbin, it's, Ed Bastian, Durbin's Organizations: Visa, Mastercard, Morning, United, Dick Durbin of Illinois, Republican, Democrat, House, Air, Bloomberg, European Locations: European Union
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUnited Airlines CEO: Higher fuel, labor costs and supply chain challenges will weigh on profitsCNBC’s Phil LeBeau and United Airlines CEO Scott Kirby join 'Squawk Box' to discuss the airline's quarterly earnings results, reasons behind a drop in Q4 guidance, cost pressures, capacity challenge, and more.
Persons: Phil LeBeau, Scott Kirby Organizations: Email United Airlines, United Airlines
AdvertisementAdvertisementEven though Russian airspace is closed to US airlines, many Americans may still end up flying through Russian skies. This includes four European carriers: Air Serbia, Turkish Airlines, Pegasus Airlines, and Belarus' Belavia. Emirates' flight path from Dubai to Los Angeles on September 25 showed it flew over Russian airspace. Looking at the time of writing for mid-November, a ticket on Air India is nearly $2,000 cheaper than American. This was a particular concern earlier this year when Chinese airlines were using Russian airspace on routes to the US.
Persons: , FlightRadar24, Robert Menendez, James Risch, Putin, Roman Protasevich, Scott Kirby, Kirby Organizations: Carriers, Air India, Service, Moscow, Air, Turkish Airlines, Pegasus Airlines, Ethiopian Airlines, Qatar Airways, Etihad Airways, US ., Los Angeles, Uzbekistan Airways, Reuters, Travelers, NBC News, White, Malaysian Airlines, Ryanair, United Airlines, overflying, Airlines, China Eastern Airlines, American Airlines, Google, Current, Delta Air Lines Locations: Europe, Russia, Ukraine, Asia, Emirates, Russian, Air Serbia, Turkish, Belarus, Moscow, Africa, Air China, US . Emirates, Dubai, Los, West Coast, FlightAware . Emirates, Los Angeles, Air India, New Delhi, New York, Chicago, San Francisco, Tashkent, Qatar, Doha, China, detouring, Uzbekistan, American, Belarusian, Australia, overflying Russia, America, India, United
REUTERS/Alyssa Pointer/File Photo Acquire Licensing RightsCHICAGO, Sept 21 (Reuters) - Travel boom has delivered bumper earnings for U.S. carriers, but no-frills airlines such as Frontier (ULCC.O) and Spirit (SAVE.N) are struggling to return to sustainable profitability. Frontier is watching the trend "very carefully" and would consider adding premium seats if it lasts for multiple years, he said. Frontier's Biffle called adding premium seats a "big decision" and a "fairly expensive" move. Spirit shares are down 18%. PRICE-SENSITIVE TRAVELERSCEOs of budget carriers, however, don't see the model losing its appeal as long as fares determine travel bookings.
Persons: Alyssa Pointer, Barry Biffle, Biffle, Jude Bricker, Bricker, Frontier's Biffle, Andrew Levy, Scott Kirby, Helane Becker, Cowen, Jacob Brown, Brown, Rajesh Kumar Singh, Nick Zieminski Organizations: Hartsfield, Jackson Atlanta International Airport, REUTERS, Rights, Graphics, Frontier, Reuters, Sun, Privately, Avelo Airlines, United, Delta, United Airlines, Airlines, America, Thomson Locations: Atlanta , Georgia, U.S, Europe, Asia, , Minneapolis, Denver
American said that fuel prices have “increased considerably” since July, when it issued its initial third-quarter guidance. Also on Wednesday, discount carrier Spirit cut third quarter revenue by 5% from its previous forecast. It blamed rising fuel prices and “heightened promotional activity with steep discounting for travel booked” for the weeks leading into Thanksgiving weekend for the adjusted guidance. The organization said in June that it more than doubled its 2023 profit forecast for the global airline industry despite a looming economic downturn. Airlines are expected to make $9.8 billion in net profit in 2023, up from a December forecast of $4.7 billion.
Persons: Scott Kirby, ” Kirby Organizations: New, New York CNN — American Airlines, Labor, Global, International Air Transport Association, United Airlines, CNN Locations: New York, Worth
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFmr. United Airlines CEO Oscar Munoz on travel demand, pilot wage negotiations, airline near missesFormer United Airlines CEO Oscar Munoz joins 'Squawk Box' to discuss the state of the airlines industry, travel demand, pilot wage negotiations, and more.
Persons: Oscar Munoz Organizations: United Airlines
Increasing the age limit by two years would also align pilot retirement with the minimum federal retirement age, allowing them to receive full social security benefits. But the specific question of increasing the retirement age to 67 was never brought to the floor for a vote. “This is a coup by junior pilots against senior pilots,” said Allen Baker, who retired as a United Airlines pilot in June. Dennis Tajer, a spokesman for American Airlines pilots union, said pilots seeking higher retirement age want to keep earning longer. But United Airlines CEO Scott Kirby has said lifting the retirement age would not solve the pilot shortage.
Persons: Bo Ellis, F, Andrew Kelly ALPA, Ellis, ALPA, , , ” ALPA, Rick Redfern, Savanthi Syth, Raymond James ., Dan Carr, Carr, Allen Baker, Baker, Dennis Tajer, Jason Ambrosi, Barry Biffle, Scott Kirby, Jonathan Ornstein Organizations: Reuters, Air Line Pilots Association, Kennedy International Airport, REUTERS, U.S . Congress, Regional Airline Association, Southwest Airlines, Air, Mesa, MESA, United Airlines, United, U.S . Senate, Raymond James . JUNIOR, American Airlines, Frontier Airlines, International Air Transport Association Locations: Queens , New York City, U.S, Delta, United, Redfern, Canada, Japan, Australia, Mesa
Increasing the age limit by two years would also align pilot retirement with the minimum federal retirement age, allowing them to receive full social security benefits. But the specific question of increasing the retirement age to 67 was never brought to the floor for a vote. "This is a coup by junior pilots against senior pilots," said Allen Baker, who retired as a United Airlines pilot in June. Dennis Tajer, a spokesman for American Airlines pilots union, said pilots seeking higher retirement age want to keep earning longer. But United Airlines CEO Scott Kirby has said lifting the retirement age would not solve the pilot shortage.
Persons: F, Andrew Kelly, Bo Ellis, ALPA, Ellis, Rick Redfern, Savanthi Syth, Raymond James ., Dan Carr, Carr, Allen Baker, Baker, Dennis Tajer, Jason Ambrosi, Barry Biffle, Scott Kirby, Jonathan Ornstein, Rajesh Kumar Singh, Allison Lampert, Ben Klayman, Grant McCool Organizations: Pilots, Kennedy International Airport, REUTERS, Air Line Pilots Association, U.S . Congress, Regional Airline Association, Southwest Airlines, Reuters, Mesa, MESA, United Airlines, United, U.S . Senate, Raymond James . JUNIOR, American Airlines, Frontier Airlines, International Air Transport Association, Thomson Locations: Queens , New York City, U.S, Redfern, Canada, Japan, Australia, Chicago, Montreal
Oscar Munoz: My Ambition Is To Show Gratitude
  + stars: | 2023-08-15 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOscar Munoz: My Ambition Is To Show Gratitude"Be grateful, be mindful, be inclusive." Former United Airlines CEO Oscar Munoz shares how his ambition has shaped his leadership ability.
Persons: Oscar Munoz Organizations: Former United Airlines
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUnited Airlines CEO Scott Kirby on record earnings: We think it's a multi-year trajectoryCNBC’s Phil LeBeau and United Airlines CEO Scott Kirby join 'Squawk Box' to break down the airline's quarterly earnings results, recent operational meltdown, new pilot contract, and more.
Persons: Scott Kirby, Phil LeBeau Organizations: Email United, United Airlines
United Airlines pilots reach labor agreement, boost pay
  + stars: | 2023-07-15 | by ( ) www.reuters.com   time to read: +2 min
CHICAGO, July 15 (Reuters) - United Airlines (UAL.O) and its pilots on Saturday reached a labor agreement that will give the latter a significant pay increase, after the union rejected an earlier offer last year instead to seek even higher wages with pilots in short supply. The pilots will get cumulative 34.5%-40.2% increase in pay raises in a new four-year contract, the Air Line Pilots Association (ALPA) said. "We're pleased to have reached an agreement with ALPA," United Airlines CEO Scott Kirby said. United, Delta, American Airlines and Southwest Airlines (LUV.N) are estimated to hire about 8,000 pilots this year. United pilots turned down a deal last year that included more than 14.5% in cumulative wage increases and enhanced overtime and training pay.
Persons: We're, Scott Kirby, Rajesh Kumar Singh, Baranjot Kaur, Nick Zieminski, Diane Craft, Aurora Ellis Organizations: United Airlines, Saturday, Air Line Pilots Association, United, ALPA, Delta Air Lines, Industry, Rival American Airlines, American Airlines, Southwest Airlines, Jefferies, Thomson Locations: Chicago, North America, Delta, United States, Bengaluru
United CEO Scott Kirby says climate change will cause even more flight delays in the future. The airline canceled thousands of flights in a six-day meltdown leading up to July 4 weekend. United Airlines CEO Scott Kirby hasn't hesitated to point fingers when it comes to flight delays, from criticizing airport infrastructure to slamming the FAA for staffing shortages. Garth Thompson, a United pilot and union chair, similarly highlighted internal issues at the airline as a driving factor behind the flight delays in late June. "While Scott Kirby attempts to deflect blame on the FAA, weather and everything in between, further flight delays are a direct result of poor planning by United Airlines executives," Thompson told Insider at the time.
Persons: Scott Kirby, Kirby, Scott Kirby hasn't, Kirby —, , United, United's, Pete Buttigieg, Garth Thompson, Thompson Organizations: United Airlines, Politico, Hurricanes, Independence, United, New, Transportation, FAA, CNN Locations: New York, Newark, New York City
United Airlines is offering 30,000 air miles to passengers affected by flight delays over the weekend. Passengers were left stranded as hundreds of flights were canceled ahead of the July 4 holiday. United Airlines CEO even apologized for taking a private jet as the chaos ensued. United passengers experienced mass delays over the Fourth of July weekend, partly brought on by thunderstorms along the East Coast the previous weekend, CNBC reported. From June 24 through to July 2, 47% of United's mainline schedule arrived late and 15% of flights were canceled, per CNBC.
Persons: Scott Kirby, Kirby Organizations: Airlines, Passengers, United Airlines, Fox Business, Washington Post, East Coast, CNBC, Associated Press Locations: The Chicago, East, New Jersey, Denver
July 1 (Reuters) - United Airlines (UAL.O) plans to make changes in flight operations to avoid weather-related disruptions ahead of the Fourth of July holiday travel, Chief Executive Officer Scott Kirby said on Saturday. Recent flight disruptions have raised new concerns about whether airlines are ready to handle the summer travel boom during the first Fourth of July holiday in which U.S. air traffic is likely to exceed pre-COVID levels. About 26,000 flights were delayed by all airlines during a weekend in June after thunderstorms ripped through parts of the U.S., according to data from flight monitoring service FlightAware. Kirby last week blamed the FAA for recent flight cancellations. Reporting by Anirudh Saligrama in Bengaluru; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.
Persons: Scott Kirby, Kirby, Anirudh, David Gregorio Our Organizations: United Airlines, U.S . Federal Aviation Administration, FAA, U.S ., Port Authority of New, Thomson Locations: Washington, U.S . East Coast, U.S, Port Authority of New York, New Jersey, Newark, Bengaluru
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