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☆ Boeing resumes deliveries of 737 Max airplanes to China
▼ + stars: | 2024-07-23 | by ( ) www.cnbc.com time to read: +1 min

Boeing 737 MAX aircraft are assembled at the company’s plant in Renton, Washington, U.S. June 25, 2024. Boeing said on Tuesday it has resumed deliveries of its best-selling 737 Max airplane to China after a lengthy delay stemming from regulatory issues. Reuters had reported in June that 737 Max deliveries were set to resume as early as July. China suspended most orders and deliveries of Boeing planes in 2019 after the 737 Max was grounded worldwide. In a year-end 2023 filing, Boeing said it had about 140 737 Max 8 aircraft in inventory, including 85 aircraft for customers in China.

Persons: Max Organizations: Boeing, MAX, Reuters, widebodies, Max Locations: Renton , Washington , U.S, China, Washington, Beijing, Air China

☆ Boeing expects 787 suppliers to catch up by year's end, restoring output
▼ + stars: | 2024-07-21 | by ( ) www.cnbc.com time to read: +3 min

Boeing expects delayed suppliers to catch up on parts that have slowed production of its 787 jets to below a rate of five a month, as the U.S. planemaker works to restore output of two key commercial programs by the year's end. Earlier this year, Boeing lowered 787 output to allow "suppliers to catch up with us," a company executive told reporters during a June visit to its sprawling 777 widebody factory in Everett, Washington State. Boeing has said it would restore 737 output to around 38 by the year's end after production of its strongest-selling jet plummeted. Boeing halted deliveries of the 787 widebody jet for more than a year until August 2022 as the FAA investigated quality problems and manufacturing flaws. The planemaker, nevertheless, is eyeing higher Dreamliner production, after setting a target rate of 10 a month for the Dreamliner in the 2025-2026 timeframe at its 2022 investor day.

Persons: Scott Stocker, Stocker Organizations: Boeing, Airbus, Farnborough, Reuters, U.S . Federal Aviation Administration, FAA Locations: Everett , Washington State, South Carolina

☆ Boeing begins 777-9 certification flight trials with FAA
▼ + stars: | 2024-07-13 | by ( ) www.cnbc.com time to read: +1 min

Boeing has started certification flight testing of its long-delayed 777-9 with U.S. aviation regulators onboard, the U.S. planemaker said in an emailed statement. The U.S. Federal Aviation Administration (FAA) did not immediately respond to a Reuters request for comment out of office hours. Type inspection authorization is typically associated with the start of the certification process, made after the FAA has examined technical data. The milestone allows FAA pilots to participate in flight testing needed to certify the plane for normal operation. Boeing has said that the 777-9 test fleet will undergo the most thorough commercial flight test effort the planemaker has ever undertaken.

Persons: planemaker Organizations: Boeing Co, Boeing, Air Current, U.S . Federal Aviation Administration, FAA, Emirates Locations: Renton , Washington, US, U.S

☆ Airbus launches cost cuts to 'save 2024' after output woes
▼ + stars: | 2024-07-12 | by ( ) www.cnbc.com time to read: +1 min

An Airbus A350-1000 aircraft flies above a mosque during the 2023 Dubai Airshow at Dubai World Central - Al-Maktoum International Airport on November 14, 2023. PARIS, July 12 (Reuters) — Airbus has launched a program of cost cuts and a freeze on overall headcount to shore up performance at its core planemaking business in 2024 and beyond, weeks after being forced to cut targets for jet production, industry sources said. An Airbus spokesperson declined to comment on internal memos but confirmed the existence of a performance-improvement plan. In the memo, Scherer predicted that Boeing's ongoing corporate and industrial crisis would force Airbus' main rival to "radically change for the better," the sources said. He also drew attention to the steady rise of China as a competitor with strong state backing and a big domestic market.

Persons: Christian Scherer, Scherer Organizations: Airbus, Maktoum International Airport, Boeing Locations: Dubai, Al, Maktoum, PARIS, China

☆ Why so much is riding on the 777X, Boeing's newest long-haul plane that is already 5 years late and costing billions
▼ + stars: | 2024-07-04 | by ( Taylor Rains | ) www.businessinsider.com time to read: +7 min

The FAA slowed deliveries after the Alaska Airlines door plug blowout in January and capped Boeing's 737 production. AdvertisementA lot is riding on the new 777X, including proving its modified design was the right strategy over building a new plane from scratch. Boeing's last completely new widebody plane was the 787 way back in 2003. The Boeing 777X's 10-abreast cabin mockup on display at Aircraft Interiors Expo in 2022. Georg Wendt/picture alliance via Getty ImagesDespite the substantial investment, Emirates president Tim Clark has voiced his concern over Boeing's 777X delays.

Persons: —, Richard Aboulafia, there's, it's, Thiago B Trevisan, Julien de Rosa, ROSLAN RAHMAN, Max —, Max, Georg Wendt, Tim Clark, Clark, Aboulafia Organizations: Service, British Airways, Emirates, Singapore Airlines, Business, Boeing, FAA, Alaska Airlines, Airbus, Korean Air, Delta Air Lines, Lufthansa, Air New Zealand, Getty, Aviation, Etihad Airways, Aircraft, Reuters, Air Locations: Korean, AFP, Qatar

☆ Airbus agrees to pay $1 for Spirit AeroSystems assets in deal sparked by Boeing 737 Max blowout
▼ + stars: | 2024-07-01 | by ( Pete Syme | ) www.businessinsider.com time to read: +1 min

Airbus has agreed to acquire assets of Spirit AeroSystems for $1. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAirbus has agreed to buy assets from a major aviation supplier for a symbolic $1 price tag, the planemaker announced Monday. Spirit AeroSystems, which was part of Boeing before being spun off in 2005, is being carved up following January's Alaska Airlines blowout. Boeing is paying $4.7 billion to buy back Spirit AeroSystems, the companies announced Monday.

Persons: —, AeroSystems Organizations: Airbus, Boeing, Alaska Airlines, Service, Business

☆ Boeing agrees to buy fuselage maker Spirit AeroSystems in $4.7 billion deal
▼ + stars: | 2024-07-01 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Boeing said Monday that it will buy back its struggling fuselage maker Spirit AeroSystems in an all-stock deal that the planemaker has said will improve safety and quality control. It said it agreed to pay $37.25 a share in Boeing stock for Spirit, giving the aerospace company an equity value of $4.7 billion. Including Spirit's debt the deal has a transaction value of $8.3 billion Boeing said. Spirit's shares closed Friday at $32.87 a share, giving it a market capitalization of about $3.8 billion. In 2005, Boeing spun off operations in Kansas and Oklahoma that became the present-day Spirit AeroSystems.

Persons: Dave Calhoun, Pat Shanahan Organizations: Boeing, Alaska Airlines, Spirit, Airbus, Calhoun Locations: Wichita , Kansas, Kansas, Oklahoma, Belfast , Northern Ireland, North Carolina

☆ Boeing rival Airbus is set to launch its game-changing A321XLR plane this year. Here's where it's expected to fly.
▼ + stars: | 2024-07-01 | by ( Taylor Rains | ) www.businessinsider.com time to read: +6 min

With nothing commercial to show from Boeing, which usually has its 777X and Max test jets on display, all eyes will be on European rival Airbus. AdvertisementThe XLR plane is the longest-ranged option in the A321neo family, which has outsold Boeing's 737 since 2019, when two fatal crashes grounded the plane's Max variants. According to Airbus, the XLR is uniquely equipped for long-haul flying, thanks to an extra rear center fuel tank that helps the narrowbody fly up to 5,400 miles (11 hours) nonstop. AdvertisementThe premium seating offers lie-flat beds typical to what customers find on long-haul widebody flights, and is likely to be the norm on long-haul XLRs. "Even well-established city pairs such as London-Miami or Sydney-Kuala Lumpur will benefit from the year-round sweet spot the XLR offers airlines," Airbus marketing specialist Ludek Jando said in September 2023.

Persons: —, Taylor Rains, Max, American's, Jason Reisinger, Andrew Nocella, Willy Boulte, Barry Biffle, Ludek Jando Organizations: Service, Alaska Airlines, Max, Farnborough, Business, Boeing, Airbus, American Airlines , Frontier Airlines, JetBlue Airways, United Airlines, Qantas, AirAsia X, Sky Airline, Czech Airlines, Air Canada, Airlines, JetBlue, Spanish, Washington Dulles, American Airlines, Frontier Locations: Alaska, Iberia, Malaysian, Chile, East Coast, Europe, Madrid, Boston, Washington, Dulles, Raleigh , North Carolina, London, Charlotte, New York, Asia, Beijing, Seoul, Amsterdam, South America, Hawaii, Miami, Sydney, Kuala Lumpur

☆ Airlines got too confident, and now they are paying the price despite record-breaking travel
▼ + stars: | 2024-06-29 | by ( Taylor Rains | ) www.businessinsider.com time to read: +8 min

Expensive fuel, maintenance, and labor don't help, nor do unpredictable setbacks outside the airline's control, like pandemic travel bans and production slowdowns at planemaker Boeing. But across the industry, many airlines are struggling to turn profits thanks to issues like overcapacity, unrelenting competition, and unexpectedly high costs, according to experts. Boeing delivery delays have eaten into profitsHarteveldt said Boeing's ongoing delivery delays have cost airlines like American, Southwest, and United millions of dollars. Airlines are plagued by high costs in an extremely competitive industryNearly everything is more expensive than it was before the pandemic, and airlines are no exception. For low-cost carriers like Frontier and Spirit, these high costs make it challenging to make money, Kraemer said.

Persons: —, Henry Harteveldt, Scott Olson, Robert Isom, Bob Jordan, Harry Kraemer, Kraemer, You've, you've, Harteveldt, Joe Raedle, they've, Stephen Brashear, Eric Glenn, Shutterstock Harteveldt Organizations: Service, planemaker Boeing, Business, International Air Transport Association, —, Airlines, Getty, Reuters, Southwest, Elliott Investment Management, Baxter International, Corporations, Google, Spirit, Frontier, Boeing, JetBlue Airways, Airbus, Bureau of Labor Statistics Locations: Delta, United

☆ These new bombshell allegations from Boeing whistleblowers about what happens to faulty plane parts are pretty horrifying
▼ + stars: | 2024-06-19 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +4 min

Read previewThe Senate subcommittee investigating Boeing's safety and quality practices on Monday released a new report — and it contains new allegations from company whistleblowers about what happens to faulty plane parts. A new slate of accusations came from Sam Mohawk, a Boeing quality assurance investigator in Renton, Washington. Related storiesThe Senate subcommittee also highlighted allegations from former Boeing quality manager Merle Meyers. The fresh slate of accusations from Boeing whistleblowers adds to the existing allegations against the company from other Boeing whistleblowers. AdvertisementNotably, two Boeing whistleblowers died before the Senate subcommittee's report came out on Monday.

Persons: —, Sam Mohawk, Merle Meyers, Meyers, Joshua Dean, Dean, John Barnett, Dave Calhoun, Calhoun, Sen, Josh Hawley Organizations: Service, Business, Boeing, Occupational Safety, Health Administration, FAA, OSHA, BI Locations: Washington, Renton , Washington . Mohawk, Renton, Charleston

Stormy weatherBoeing’s boss, Dave Calhoun, will testify before a Senate panel on Tuesday, as yet another whistle-blower has come forward, alleging the planemaker was negligent in tracking hundreds of faulty parts. Calhoun will step down by December, but that hasn’t stopped lawmakers, investors and customers from hammering the company. Now, Boeing is reportedly struggling to find a successor, highlighting the scale of the challenge to fix an iconic American company. Calhoun will say that the culture is still “far from perfect.” He will be grilled on a range of issues hanging over the company, from multiple whistle-blower accusations to the events leading up to the midair blowout of a door plug on an Alaska Airlines 737 Max 9 jet in January.

Persons: Dave Calhoun, Calhoun, hasn’t Organizations: Boeing, Alaska Airlines, Max

☆ A Southwest Boeing 737 Max experienced a rare but serious 'Dutch roll,' and has now been out of service for 2 weeks
▼ + stars: | 2024-06-14 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

A Boeing 737 Max has been out of service since May 25. The Southwest Airlines jet encountered a rare stability problem called a Dutch roll. AdvertisementA Boeing 737 Max has been out of service for 20 days as officials investigate an in-flight incident. The Southwest Airlines jet was flying from Phoenix to Oakland on May 25 when it ran into a rare but potentially serious problem. The video below shows an aircraft (not the Southwest 737 Max) experiencing a Dutch roll:Luckily, in the Southwest incident, pilots regained control of the 737 Max.

Persons: Max, — Organizations: Boeing, Southwest Airlines, Service, Federal Aviation Administration, Business, Pilots, Southwest, Max, FAA, Alaska Airlines Locations: Phoenix, Oakland, Dutch, Everett , Washington, Southwest

☆ Jeff Bezos owns a $10 million Swiss private jet. See inside the Pilatus PC-24 with its unusual toilet in the galley.
▼ + stars: | 2024-06-09 | by ( Pete Syme | ) www.businessinsider.com time to read: +1 min

Jeff Bezos owns three private jets worth $140 million in total, per JetSpy data. That includes a Pilatus PC-24, which the Swiss company calls "the world's only super versatile jet." AdvertisementJust like Elon Musk and Bill Gates, Jeff Bezos' private jet of choice is a Gulfstream G650ER. But the Amazon founder also has a smaller business jet known for its versatility, according to data from JetSpy. Swiss planemaker Pilatus bills its PC-24 as "the world's only super versatile jet" because it's capable of landing on short and unpaved runways.

Persons: Jeff Bezos, —, Elon Musk, Bill Gates Organizations: Service, Gulfstream, Business Locations: Swiss, JetSpy

☆ Managers at Boeing's largest factory 'hound mechanics' to keep quiet about safety concerns, employee says
▼ + stars: | 2024-06-02 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +4 min

Read previewManagers at Boeing's largest factory in Everett, Washington, "will hound mechanics" to keep quiet about safety and quality assurance concerns, a mechanic who has worked for the company for more than three decades told The Guardian. Boeing's Everett site, one of the world's largest manufacturing buildings, produces the 747, 767, 777, and 787 airplanes. The factory is also responsible for fixing the 787 Dreamliner, and the unnamed mechanic told the Guardian that it was "full of" faulty 787 jets waiting to be mended. Many of the planes arriving at Everett come from Boeing's 787 Dreamliner Final Assembly building in South Carolina, which it opened in 2011. AdvertisementFollowing the Alaska blowout incident, the FAA ordered Boeing to produce an action plan to address its safety issues.

Persons: —, Boeing's Everett, Max, Sam Salehpour, shim, Michael Whitaker, Sheikh Ahmed bin Saeed Al Maktoum Organizations: Service, Boeing's, Guardian, Business, Boeing, Everett, Alaska Airlines, Federal Aviation Authority, FAA, CNBC Locations: Everett , Washington, Everett, South Carolina, Alaska, Emirates

☆ Boeing’s plan to fix the company could suggest major changes
▼ + stars: | 2024-05-30 | by ( Gregory Wallace | ) edition.cnn.com time to read: +3 min

It is unclear if Boeing will actually release its plans to the public; FAA chief Mike Whitaker is slated to speak about the Boeing plan later on Thursday. The plan is seen as a crucial step to rebuilding the safety culture and practices of the nation’s single largest exporter. Whitaker ordered the plan from Boeing after reviewing the findings of FAA auditors who visited the company’s 737 Max assembly line. The auditors were deployed in response to the January 5 door plug blowout on Alaska Airlines flight 1282, a months-old Max. The plan may be one of Boeing’s last major milestones under Calhoun, who announced in the wake of the blowout he would join other senior managers in leaving the company this year.

Persons: Dave Calhoun, Mike Whitaker, Dave Calhoun –, Whitaker, Max, Calhoun, ”, – Organizations: Washington CNN — Aircraft, Boeing, Federal Aviation Administration, FAA, CNN, Max, Alaska Airlines, National Transportation Safety Board Locations: Renton , Washington, Wichita , Kansas, Boeing’s Renton

☆ After a string of safety issues, Boeing is about to release a plan to fix its quality problems
▼ + stars: | 2024-05-29 | by ( Gregory Wallace | ) edition.cnn.com time to read: +5 min

Washington CNN —Boeing is expected to release a plan this week to fix its endless string of safety issues that have been under federal investigation following a midflight fuselage blowout in January. Since then, the FAA and Boeing have met multiple times about the company’s progress and the plan’s scope. FAA Administrator Mike Whitaker said last week he sees the plan as only the “beginning” of a process for Boeing. Boeing later agreed to financial penalties and a deferred prosecution agreement to settle a criminal charge of defrauding US regulators. Its marching orders for the plan include addressing the audit and expert panel findings and explaining how it will integrate safety and quality assurance policies into practice.

Persons: Mike Whitaker, “ It’s, ” Whitaker, Max, Dave Calhoun, David Ryder, Whitaker, AeroSystems, Brian West, “ We’re, we’ll Organizations: Washington CNN, Boeing, Aviation Administration, FAA, ABC, Air Force, Alaska Airlines, Transportation Safety, Department of Justice, CNN, Employees, “ Locations: Portland , Oregon, Wichita , Kansas, Renton , Washington

☆ Boeing expects a 2024 cash burn, slow recovery of airplane deliveries amid crisis, CFO says
▼ + stars: | 2024-05-23 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

A month ago, West forecast Boeing would generate free cash flow "in the low single-digit billions." The company's aircraft deliveries in the first quarter fell to the lowest level since the pandemic. Other problems have also sprung up, including a pause on deliveries of 737 Max planes to China to review batteries for the cockpit voice recorder. Parts shortages have also slowed deliveries of 787 Dreamliners, Boeing has said. American Airlines last month said it would cut some international flights because of delays of the wide-body jets.

Persons: Brian West, West, Dave Calhoun, Max Organizations: American Airlines Boeing, Reagan National, FAA, Boeing, Wolfe Research, Federal Aviation Administration, Civil Aviation Administration, China, American Airlines, United Airlines, Southwest Airlines Locations: Los Angeles, United States, Washington , U.S, China

☆ Boeing broke an agreement over the 737 Max crashes that killed 346 people, and could now be prosecuted, the Justice Department says
▼ + stars: | 2024-05-15 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Read previewBoeing could face criminal charges after the Justice Department determined the planemaker violated a deferred prosecution agreement (DPA). The DPA, reached in 2021, meant Boeing didn't face charges related to the deaths of 346 people in two 737 Max 8 crashes in 2018 and 2019. AdvertisementIt added: "For failing to fulfill completely the terms of and obligations under the DPA, Boeing is subject to prosecution by the United States." AdvertisementThe Justice Department is continuing to meet with the families of victims of the 2018 and 2019 crashes, as it determines whether to bring charges against Boeing. The Justice Department told the court it will decide whether to prosecute Boeing by July 7.

Persons: —, Max, Robert Clifford Organizations: Service, Justice Department, DPA, Boeing, Business, Alaska Airlines, DoJ, BI, Department, Ethiopian Locations: United States, Alaska

☆ Lufthansa's boss called delays to Boeing deliveries 'extremely annoying,' and it further highlights a growing dilemma for the aviation giant
▼ + stars: | 2024-05-13 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

The CEO of Europe's biggest airline called Boeing's delivery delays "extremely annoying." AdvertisementThe CEO of Lufthansa has become the second airline boss in recent days to voice his frustration with Boeing over delivery delays. In an interview with Swiss newspaper Neue Zuercher Zeitung published Saturday, Carsten Spohr was asked about the planemaker's delivery delays. In an interview with CNBC, Sheikh Ahmed bin Saeed Al Maktoum told Boeing to "get your act together." AdvertisementAfter announcing his resignation, Boeing CEO Dave Calhoun said the company needed to slow down production in order to focus on safety.

Persons: —, Carsten Spohr, Sheikh Ahmed bin Saeed Al Maktoum, Dave Calhoun, Al Maktoum's, Brendan Nelson, Spohr Organizations: Alaska Airlines, Boeing, Service, Lufthansa, Swiss, Neue Zuercher, Europe's, Emirates, CNBC, Boeing Global, Sky Arabia, Ryanair, United Airlines, Max, Airbus, Zuercher Zeitung, Business

☆ The boss of one of Boeing's biggest customers highlighted the tug-of-war between the planemaker's 2 top priorities: speed and safety
▼ + stars: | 2024-05-10 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Emirates CEO Sheikh Ahmed bin Saeed Al Maktoum criticized Boeing in a CNBC interview. AdvertisementBoeing is facing criticism from one of its biggest customers, as the CEO of Emirates told the planemaker to "get your act together," in an interview with CNBC. AdvertisementAl Maktoum told CNBC that his message for Boeing is: "Get your act together and just do it. An Emirates Boeing 777. Urbanandsport/NurPhoto via Getty ImagesWith 250 planes on order, Emirates is Boeing's biggest customer for widebody jets.

Persons: Sheikh Ahmed bin Saeed Al Maktoum, —, We're, it's, Al Maktoum, Max, Dave Calhoun, Al Maktoum's, It's, didn't, Scott Kirby Organizations: Boeing, CNBC, Service, Emirates, Business, Alaska Airlines, National Transportation Safety, Emirates Boeing, Getty, Airbus, United Airlines Locations: Emirates, Dubai

☆ The emergency slide that came off a Delta 767 washed up in front of the house of a lawyer whose firm is suing Boeing over the Alaska blowout
▼ + stars: | 2024-04-30 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

An emergency exit slide came off a Delta Air Lines Boeing 767 on Friday. A lawyer, whose firm is suing Boeing over the Alaska blowout, spotted it outside his home two days later. AdvertisementAn emergency slide that came off a Delta Boeing 767 was found by a lawyer whose firm is suing Boeing, the New York Post reported. The wild coincidence happened on Sunday, two days after the slide fell off the Boeing 767 operated by Delta Air Lines. However, it should be noted that since the Delta Boeing 767 was built in 1990, the incident points to a maintenance issue rather than the planemaker's fault.

Persons: hasn't, —, Jake Bissell, Linsk, Bissell, Labaton Keller Sucharow, ince Organizations: Delta Air Lines Boeing, Boeing, Alaska, New York Post, Service, Delta Boeing, Delta Air Lines, New York's JFK Airport, Delta, ust Locations: New, Los Angeles, Queens

☆ 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

☆ Airbus misses on operating profit, raises A350 output goal
▼ + stars: | 2024-04-25 | by ( ) www.cnbc.com time to read: 1 min

An Airbus A350-941 is undergoing a test flight at Toulouse Blagnac Airport in Toulouse, France, on December 8, 2023. Airbus posted weaker than expected first-quarter operating profit and cashflow after hiring more staff to prepare for rising aircraft demand, but reaffirmed its financial goals for 2024 after a nervous start to the year on industrial costs. The world's largest planemaker also announced a higher output target for its wide-body A350 model, of 12 a month in 2028, amid a renaissance in demand for long-haul jets. Airbus reported 577 million euros in adjusted operating profit, down 25% on the year, revenue of 12.83 billion and a free cash outflow of 1.8 billion euros. Analysts were on average expecting operating profit of 789 million euros and an outflow of 1.3 billion euros, according to a company-compiled survey.

Organizations: Airbus, Toulouse Blagnac Airport Locations: Toulouse, France

☆ Southwest is leaving 4 cities this year as it deals with Boeing's 737 Max crisis — see the list
▼ + stars: | 2024-04-25 | by ( Taylor Rains | ) www.businessinsider.com time to read: +3 min

The airports losing Southwest service are:AdvertisementSyracuse Hancock International Airport in New York. Bellingham International Airport in Washington. Southwest also said it would "significantly restructure other markets," including putting capacity reductions at Hartsfield-Jackson Atlanta International Airport and Chicago O'Hare International Airport. Related stories"To improve our financial performance, we have intensified our network-optimization efforts to address underperforming markets," Southwest CEO Bob Jordan said in the earnings report, noting the impact could go into 2025. The backlash has prompted Boeing CEO Dave Calhoun to announce his resignation from the company, effective at the end of the year.

Persons: —, George Bush, Boeing's Max, Max, Bob Jordan, Jordan, Dave Calhoun, Boeing's, Larry Kellner, Stan Deal, Stephanie Pope, Sam Salehpour Organizations: Service, Boeing, Max, Southwest Airlines, Business, Southwest, Syracuse Hancock International, Bellingham International Airport, Cozumel International, George Bush Intercontinental Airport, Alaska Airlines, Hartsfield, Jackson Atlanta International Airport, Chicago O'Hare International, Ryanair, United Airlines, Boeing Commercial Locations: New York, Bellingham, Washington, Cozumel, Mexico, Houston, Southwest, Alaska

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