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How Did a Boeing Jet End Up With a Big Hole? At about 16,000 feet, pilots heard a loud boom, and the pressure dropped further: One of those door plugs had completely torn off. National Transportation Safety BoardBoeing’s chief executive, Dave Calhoun, has suggested that a manufacturing lapse was responsible for the door plug blowing out. investigation, it’s clear to us we received an airplane from the manufacturer with a faulty door plug,” Alaska said in a statement. An older Boeing model, the 737-900ER, has the same design for its door plugs as the Max 9.

Persons: Bolts, New York Times Bolts, Jeff Simon, cotter, Simon, ”, it’s, ” Gary Peterson, Dave Calhoun, AeroSystems, Max, fuselages, Joe Buccino, Mr, Buccino, Mathieu Lewis, Rolland Organizations: Boeing, Alaska Airlines, New York Times, The New York Times, National Transportation, Federal Aviation Administration, Transport Workers Union of America, Transportation Safety, Alaska Airline, Transportation, CNBC, Spirit, Board, Portland International Airport Locations: Alaska, Portland ,, Malaysia, Wichita, Kan, Renton, Wash, Jan

☆ 'SNL' says Alaska Airlines' new slogan is 'You didn't die, and you got a cool story' in spoof ad following door plug blowout
▼ + stars: | 2024-01-22 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

"SNL" aired a parody ad for Alaska Airlines in its first show of the year, hosted by Jacob Elordi. Although the FAA has been more critical of Boeing's role in the blowout than Alaska Airlines. Advertisement"Saturday Night Live" aired a sketch this past weekend that parodied Alaska Airlines following the Flight 1282 incident where a Boeing 737 Max 9 lost its door plug in midair. AdvertisementThe door plug that came off the 737 Max 9 on January 5 covered a deactivated emergency exit which is only operational in configurations with more passengers. When the National Transportation Safety Board recovered the door plug in Oregon, they learned four bolts attaching it to the jet were missing.

Persons: Jacob Elordi, Captain Sully, —, Nobody, Chesley, Sully, Sullenberger, Kenan Thompson, We're, Elordi, AeroSystems, Dave Calhoun Organizations: Alaska Airlines, FAA, Service, Boeing, Max, Portland International, National Transportation Safety Board, United Airlines, CNBC Locations: Alaska, Oregon

☆ Boeing CEO tells contractors ‘we’re going to learn from’ Alaska Airlines incident
▼ + stars: | 2024-01-18 | by ( Pete Muntean | ) edition.cnn.com time to read: +3 min

CNN —Boeing says its CEO told workers of Spirit AeroSystems — its subcontractor that builds the 737 Max 9 fuselage — that “we’re going to learn from” this month’s blowout on Alaska Airlines flight 1282. Boeing says CEO Dave Calhoun addressed 200 Spirit AeroSystems employees as part of a town hall meeting held in Wichita, Kansas, on Wednesday. Spirit AeroSystems is a major Boeing contractor that builds the fuselages of several Boeing jets, including the 737 Max. But the Alaska Airlines incident is not the first time that there have been problems with the quality of its work causing problems for Boeing planes. The supplier used to be part of Boeing but Boeing spun-off its Wichita division and Oklahoma operations into Spirit AeroSystems.

Persons: Dave Calhoun, Calhoun, Pat Shanahan, “ We’re, AeroSystems, Max, CNN’s Chris Isidore Organizations: CNN, Boeing, Alaska Airlines, AeroSystems, Spirit, Federal Aviation Administration, Max, FAA, Wichita Locations: Wichita , Kansas, Alaska, United States, Oklahoma

☆ Boeing's CEO vowed to staff that 'we're going to get better' as he rallied employees at a key supplier in the 737 Max 9 saga
▼ + stars: | 2024-01-18 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

Spirit is a Kansas-based company that builds the fuselages and other parts of Boeing planes, including the 737 Max 9. Spirit built the door plug which came off the 737 Max 9 on January 5, leaving a gaping hole in the fuselage. The National Transportation Safety Board is testing the recovered door plug to determine whether four missing bolts were ever installed. AdvertisementAlaska Airlines and United Airlines, the two biggest operators of the 737 Max 9, also found loose hardware on some of the grounded aircraft. 171 Boeing 737 Max 9 jets have been grounded by the FAA.

Persons: —, Dave Calhoun, AeroSystems, Calhoun Organizations: Service, Federal Aviation Administration, Business, Boeing, Spirit, FAA, Alaska Airlines, Portland International, National Transportation Safety Board, United Airlines, Max Locations: Kansas

☆ Akasa Air: Boeing gets some good news as Indian airline orders 150 737 Max jets
▼ + stars: | 2024-01-18 | by ( Diksha Madhok | ) edition.cnn.com time to read: +3 min

India’s newest airline is purchasing 150 Boeing 737 Max aircraft, in the first major order the troubled planemaker has announced since the dramatic Alaska Airlines incident in which part of the fuselage of a 737 Max 9 fell off mid-flight. Akasa Air has ordered the 737 Max 10 and 737 Max 8-200 aircraft to be delivered through 2032, the airline said at an event in the southern Indian city of Hyderabad. On Wednesday, the US Federal Aviation Administration said it was expanding its probe to include Spirit AeroSystems (SPR), which builds the fuselage of the 737 Max 9. Akasa Air, which was launched in 2022, is not the only Indian carrier that is buying a lot of Boeing planes. Last year, Air India said it would buy 220 Boeing planes.

Persons: planemaker, Max, ” Stephanie Pope, Ethopia, Antony Blinken, Vinay Dube, ”, Joe Biden, Narendra Modi Organizations: New, New Delhi CNN, Boeing, Max, Akasa, Alaska Airlines, US Federal Aviation Administration, Economic, Air, Indian Locations: New Delhi, Alaska, Indian, Hyderabad, Portland , Oregon, Indonesia, Wells, Washington, Davos, Switzerland, India, Air India

☆ The FAA’s 737 Max probe just widened to include Spirt Aerosystems
▼ + stars: | 2024-01-17 | by ( Pete Muntean | Curt Devine | ) edition.cnn.com time to read: +4 min

Washington CNN —The US Federal Aviation Administration is expanding its probe into Boeing 737 Max 9 quality control following this month’s in-flight blowout of a part of an Alaska Airlines plane. In a new statement released Wednesday, the FAA says it is now investigating contractor Spirit AeroSystems, which builds the fuselage of the Boeing 737 Max 9. Spirit Aerosystems did not immediately respond to a request for comment. The FAA says all 171 Boeing 737 Max 9s in the United States remain grounded, the agency has received new data from preliminary inspections of 40 of those airplanes. Spirit Aerosystems’ history of troubleShareholders of Spirit AeroSystems last year filed a federal lawsuit against the company, accusing it of “widespread and sustained quality failures” in its products.

Persons: Spirit, Boeing “, Aerosystems, “, Max, Spirit AeroSystems, Lever, Joe Buccino, AeroSystems, ” Organizations: Washington CNN, US Federal Aviation Administration, Boeing, Max, Alaska Airlines, FAA, NTSB, Spirit, ” Locations: United States

The panel that blew out of an Alaska Airlines jetliner this month was manufactured in Malaysia by Boeing’s leading supplier, the head of the agency investigating the incident said Wednesday. The officials indicated that their separate investigations of Boeing and the accident are in the early stages. Boeing said CEO David Calhoun visited the Wichita factory of Spirit AeroSystems, which makes a large part of the fuselage on Boeing Max jets and installs the part that came off an Alaska Airlines jetliner. An Alaska Airlines Max 9 was forced to make an emergency landing on Jan. 5 after a panel called a door plug blew out of the side of the plane shortly after takeoff from Portland, Oregon. The NTSB is investigating the accident, while the FAA investigates whether Boeing and its suppliers followed quality-control procedures.

Persons: Jennifer Homendy, Spirit AeroSystems, AeroSystems, “, Mike Whitaker, ”, Sen, Jerry Moran, Moran, Whitaker, ” Moran, David Calhoun, Patrick Shanahan —, Donald Trump, —, “ We’re, ” Calhoun, Max Organizations: Alaska Airlines, Boeing’s, National Transportation Safety, Federal Aviation Administration, Boeing, Max, Senate, Kansas Republican, FAA, Boeing Max, Pentagon, Alaska Airlines Max, NTSB, United Airlines, Dow Jones Locations: Malaysia, Washington, Wichita , Kansas, Kansas, Wichita, Calhoun, Portland , Oregon, Alaska, United, Arlington , Virginia

☆ Boeing's manufacturing processes are under investigation after the Alaska Airlines blowout, the FAA says
▼ + stars: | 2024-01-17 | by ( Pete Syme | ) www.businessinsider.com time to read: 1 min

The Federal Aviation Administration announced Wednesday that it is investigating Boeing's manufacturing practices and production lines. AdvertisementIt includes processes involving Spirit AeroSystems, the Kansas-based company that builds the fuselages and other parts of Boeing planes. The FAA said its investigation is also "examining potential system change." Related storiesAll 171 Boeing 737 Max 9 jets with a door plug have been grounded by the agency following the Alaska Airlines Flight 1282 incident. "The safety of the flying public, not speed, will determine the timeline for returning these aircraft to service," the FAA added.

Persons: AeroSystems Organizations: Federal Aviation Administration, Boeing, FAA, Max, Alaska Airlines Locations: Kansas

☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, Rivian, Amazon, Netflix, Ford, Rocket Lab & more
▼ + stars: | 2024-01-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Wednesday's biggest calls on Wall Street: Citi reiterates Apple as buy Citi said it's standing by its top pick status on Apple shares. UBS downgrades Ford to neutral from buy UBS said it sees limited upside to estimates. TD Cowen downgrades Fisker to market perform from outperform TD said it sees too many growing pains for Fisker. KeyBanc initiates Rocket Lab as overweight Key said it sees upside for the rocket satellite company. "We initiate coverage on Rocket Lab USA (NASDAQ: RKLB) with an Overweight rating and $8 price target, reflecting ~50% upside."

Persons: Jefferies, Tesla, Elon, Ford, TD Cowen downgrades Fisker, JPMorgan downgrades Morgan Stanley, Morgan Stanley, it's, Christine Barone, Goldman Sachs, Goldman, Davidson downgrades Teladoc, Key, Evercore, Wolfe, Piper Sandler, TGT, BURL, SolarEdge, Mizuho, William Blair, it's bullish Organizations: Citi, Apple, Huawei, UBS, JPMorgan, Bank of America, Bros, Rocket Lab, Lithia, Dealers, Susquehanna, JetBlue Spirit, Deutsche Bank, Deutsche, EV, CART, Target, Barclays, Boeing, Airbus, Mizuho, Amazon, " Bank of America, Netflix Locations: China, 2Q24, 3Q24, Burlington

☆ Boeing is adding more 737 airplane inspections as company says it's 'clear that we are not where we need to be'
▼ + stars: | 2024-01-16 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +2 min

Read previewBoeing is introducing more quality assurance measures in its production process for 737 aircraft following a nightmare Alaska Airlines flight on one of the planes last week. "But, the AS1282 accident and recent customer findings make clear that we are not where we need to be." AdvertisementBoeing will open its factories for inspection to airlines that use 737 planes, and the company is bringing in a third party to conduct an independent review of its quality management system, Deal added. The US Federal Aviation Administration has since grounded all Boeing 737 Max 9 planes with that component until it decides they can safely return to operation. Alaska Airlines said Saturday that it's starting a "thorough review of Boeing's production quality and control systems" and will also "enhance our own quality oversight of Alaska aircraft on the Boeing production line."

Persons: —, Stan Deal Organizations: Service, Alaska Airlines, Business, Boeing Commercial Airplanes, Management, Boeing, US Federal Aviation Administration, Max, FAA, Alaska

☆ Alaska Airlines is reviewing Boeing's quality control after a 'candid' meeting with its CEO about the mid-air 737 Max 9 door plug blowout
▼ + stars: | 2024-01-15 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Alaska Airlines said it met with Boeing's CEO last week and will review its quality control systems. AdvertisementAlaska Airlines announced Saturday that it is starting a "thorough review" of Boeing's quality control systems. The airline will also enhance its oversight of the Boeing production line by expanding its team that validates its quality. It added, "We welcome and appreciate" the Federal Aviation Administration's audit of the Boeing 737 Max 9 production line. Alaska Airlines and United Airlines, the world's biggest 737 Max 9 operator with 79, have canceled hundreds of flights as a result.

Persons: —, AeroSystems, Dave Calhoun, Calhoun Organizations: Alaska Airlines, FAA, Max, Service, Boeing, Federal Aviation, Portland International, CNBC, United Airlines Locations: Alaska, Kansas

☆ Boeing is letting airlines into its factories as preliminary inspections begin on the 737 Max 9
▼ + stars: | 2024-01-15 | by ( Pete Muntean | Ross Levitt | ) edition.cnn.com time to read: +2 min

CNN —Boeing says it will give airlines more oversight of its facilities following the Alaska Airlines Flight 1282 incident in which a part of the plane fell off mid-flight. The plane maker said Monday that in addition to extra quality control inspections on the 737 production line, it will allow airlines into Boeing factories and those of contractor Spirit AeroSystems, which builds Max 9 fuselage. Alaska Airlines said it is in the middle a “thorough review of Boeing’s production quality and control systems.” The airline has 65 Boeing 737 Max 9s with another 25 on order, according to fleet data from airlines analytics firm Cirium. Boeing 737 Max 9s remain grounded in the United States as airlines Alaska and United await emergency inspection guidance from the Federal Aviation Administration. On Friday, the FAA announced it will audit Boeing’s production practices as it considers mandating an independent third-party oversee Boeing quality.

Persons: Spirit, Stan Deal, ”, “, Max Organizations: CNN, Boeing, Alaska Airlines, Federal Aviation Administration, Boeing Commercial, Alaska, Max, FAA, National Transportation Safety Locations: Alaska, United States, United, Washington, DC

☆ ‘Not Where We Need to Be’: Boeing to Make Changes in Quality Control
▼ + stars: | 2024-01-15 | by ( Niraj Chokshi | ) www.nytimes.com time to read: +1 min

Boeing said Monday that it would make changes to quality control processes after one of its 737 Max 9 jets lost a portion of its body during a nearly catastrophic Alaska Airlines flight this month. And Boeing will bring in an outside party to review its quality control program and suggest improvements. The Federal Aviation Administration grounded all Max 9 planes and said it would expand its scrutiny of Boeing. Inspections of the planes led Boeing to conclude that its manufacturing practices needed improvement. “To that end, we are taking immediate actions to bolster quality assurance and controls across our factories.”

Persons: Stan Deal, “ Organizations: Boeing, Alaska Airlines, Federal Aviation Administration

☆ Boeing's quality control process and company culture are being heavily scrutinized after the 737 Max Flight 1282 blowout
▼ + stars: | 2024-01-13 | by ( Pete Syme | ) www.businessinsider.com time to read: +9 min

Read previewAn Alaska Airlines Boeing 737 Max 9 had 177 people on board on January 5 when part of the fuselage was blown off. After the Federal Aviation Administration grounded all 737 Max 9 planes with door plugs, United Airlines and Alaska Airlines discovered loose hardware on several. Why the 737 Max was grounded in 2019Competition between Airbus and Boeing played a role in the twin 737 Max crashes that killed almost 350 people in 2018 and 2019. The Alaska Airlines blowout will likely renew scrutiny of Boeing's deal with the department, which demanded new compliance procedures. A Boeing 737 Max 10 at the Paris Air Show.

Persons: —, Max, It's, Michael O'Leary, Tim Clark, Dennis, Win McNamee, Bob Clifford, people's, could've, Clifford, David P, Burns, AeroSystems, McDonnell Douglas, MBAs, Harry Stonecipher, Stonecipher, PIERRE VERDY, Dave Calhoun, who's Organizations: Service, Alaska Airlines Boeing, Max, Portland International, Business, Federal Aviation Administration, United Airlines, Alaska Airlines, FAA, Boeing, National Transportation Safety, NTSB, Reuters, Airbus, Ryanair, Financial, Emirates, Bloomberg, New York Times, Lion Air, Ethiopian Airlines, Ethiopian, Pilots, MCAS, The Justice Department, McDonnell, Seattle Times, Paris Air, Getty, CNBC Locations: Kansas, Alaska

☆ 5 things to know about Boeing’s latest 737 Max crisis
▼ + stars: | 2024-01-10 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +10 min

Here is the latest on what to know as Boeing faces yet another 737 Max crisis. “We’ll make sure that we take steps to ensure that it never, never can happen.”The 737 Max 9 remains groundedOn Saturday, the Federal Aviation Administration ordered most Boeing 737 Max 9 aircraft to be temporarily grounded as regulators and Boeing investigate the cause of the incident. That has led to hundreds of cancelations, particularly from Alaska Airlines and United Airlines, which have dozens of the 737 Max 9 planes. United Airlines said it is canceling 167 Boeing 737 Max 9 flights today and expects significant cancellations on Thursday, too. Alaska Airlines also said Monday it found loose hardware on some of its 737 Max 9 planes during inspections.

Persons: Dave Calhoun, company’s ‘, “, Calhoun, ” Calhoun, Patrick Shanahan, “ We’re, ”, “ We’ll, Max, Jennifer Homendy, CNN’s Poppy Harlow, AeroSystems, Republican Sen, J.D, Vance, Joe Biden, John Lovell, David Calhoun, ” Homendy, “ I’ve, I’ve, What’s, Eric Weiss, it’s, —, Catherine Thorbecke, Chris Isidore, Greg Wallace, Pete Muntean Organizations: New, New York CNN, Alaska Airlines, Max, Boeing, CNBC, Alaska Airlines midflight, Spirit, Federal Aviation Administration, United Airlines, . United Airlines, National Transportation Safety, CNN, FAA, NTSB, Republican, Senate, National Transportation Safety Board, Alaska Airlines Flight, Reuters, Airbus, Transportation Safety Locations: New York, Portland , Oregon, ”, Ohio, Alaska, U.S, Indonesia, Ethiopia, Calhoun, Portland

☆ ‘Every detail matters’: Boeing CEO admits mistake as investigators probe midair panel blowout
▼ + stars: | 2024-01-09 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

The Federal Aviation Administration grounded the 737 Max 9s less than a day after the incident on Alaska Airlines Flight 1282 so the jets could be inspected. Alaska on Wednesday said it would cancel all flights that were scheduled to use a 737 Max 9 through Saturday, amounting to 110 to 150 flights per day, while the inspections take place. No one was seated in 26A on the flight, which was next to the panel that blew out, saving passengers from a possible tragedy. "We're not going to point fingers there, because yes it escaped their factory, but then it escaped ours too," Calhoun told CNBC's Phil LeBeau on Wednesday. Alaska Airlines and United Airlines , the two largest operators of the 737 Max 9, said on Monday that they have each already found loose parts on the same area of other Max 9s that underwent review.

Persons: Dave Calhoun, Max, Calhoun, I've, Aerosystems, We're, CNBC's Phil LeBeau Organizations: Alaska Airlines, Federal Aviation Administration, Boeing, . Alaska Airlines, United Airlines Locations: Alaska

☆ Boeing's latest 737 Max failure narrowly avoided tragedy — but it won't avoid scrutiny
▼ + stars: | 2024-01-07 | by ( Leslie Josephs | ) www.cnbc.com time to read: +7 min

The 737 Max 9 flown by Alaska Airlines on Friday was delivered less than three months ago. United Airlines and Alaska Airlines, the largest operators of the 737 Max 9, on Saturday said they suspended flights with those planes, forcing the carriers to cancel more than 400 flights. Boeing's leadership has spent roughly five years regrouping after the 2018 and 2019 fatal crashes of its smaller and more popular Boeing 737 Max 8, which prompted a worldwide grounding of both the Max 8 and Max 9, the two types flying commercially. According to Jefferies, the 737 Max 9 represents just 2% of Boeing's backlog of more than 4,500 Max planes. Richard Aboulafia, managing director at aviation consulting firm Aerodynamic Advisory, said the problem on the Alaska Airlines plane appears to be a manufacturing defect, not an inherent design flaw.

Persons: Jason Redmond, Max, Jim Hall, I've, we've, Dave Calhoun, Calhoun, he's, Jennifer Homendy, Aerosystems, John Goglia, Jefferies, Richard Aboulafia Organizations: Reuters Boeing, Alaska Airlines, Federal Aviation Administration, FAA, National Transportation Safety Board, Boeing, United Airlines, Regulators, Airbus, hasn't, Wall Street, NTSB Locations: Renton , Washington, Portland , Oregon, Ontario , California, Portland, United, Alaska

☆ Stocks making the biggest moves midday: Salesforce, Snowflake, Discover, Victoria's Secret and more
▼ + stars: | 2023-11-30 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Snowflake — Snowflake shares rallied more than 4% after the cloud company posted stronger-than-expected quarterly results and an upbeat fourth-quarter product revenue forecast. The company posted adjusted earnings of 25 cents per share on $734 million in revenue. That topped the profit of 16 cents per share and revenue of $713 million expected by analysts polled by LSEG, formerly known as Refinitiv. Discover Financial — Shares jumped 4.7% after the digital banking company announced it was exploring the sale of its student loan portfolio. Victoria's Secret — The women's clothing retailer surged 15.9% after providing current-quarter guidance that was largely in line with analysts' expectations.

Persons: LSEG, Phillips, Elliott, Morgan Stanley, Nutanix, Synopsys, Ally, Baird, Petco, Wells, —, Samantha Subin, Yun Li, Michelle Fox, Lisa Kailai Han, Sarah Min Organizations: Dow Jones, Revenue, LSEG, Discover, Elliott Investment Management, CNBC, Hewlett Packard Enterprise, Nvidia, Jefferies, Wolfe Research, Barclays Locations: —

☆ Here are Thursday's biggest analyst calls: Nvidia, Apple, Eli Lilly, Salesforce, Snowflake, Snap, Pinterest and more
▼ + stars: | 2023-11-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Jefferies upgrades Pinterest and Snap to buy from hold Jefferies sees growth upside in 2024 for both stocks. " Wolfe upgrades Ally Financial to outperform from peer perform Wolfe said in its upgrade of the financial company that it's well-positioned. "In an environment where the probability of a mild recession or soft landing both appear plausible, we believe ALLY is well positioned to outperform in either scenario and upgrade shares to Outperform." "We continue to believe that Salesforce is on track to become the next quality [growth at a reasonable price] stock." Goldman Sachs reiterates Snowflake as buy Goldman Sachs stood by its buy rating on Snowflake after earnings on Wednesday.

Persons: Berenberg, Eli Lilly, Lilly, Wells, BTIG, Jefferies, Bernstein, Burger, Wolfe, TD Cowen downgrades Okta, Cowen, Stifel, Raymond James, Morgan Stanley, Bilibili, BILI, Baird, Pat Shanahan, Wells Fargo, Salesforce, Goldman Sachs, Snowflake, DUK Organizations: pharma, Nvidia, NVIDIA, Jefferies, SNAP, BK, UBS, Service Corporation, Deutsche Bank, Lattice Semiconductor, Apple, JPMorgan, Nokia, Infineon, Watch, Hewlett Packard Enterprise, Barclays, GE Healthcare, Airbus, Bank of America, Duke Energy, HSBC, Molson Coors Locations: FTCH, North America, China

☆ Boeing shares take off on report that China may lift 737 freeze, bumper Dubai orders
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +2 min

Nov 13 (Reuters) - Shares of Boeing (BA.N) rose on Monday after a report said China was considering ending its freeze on purchases of the planemaker's best-selling 737 MAX aircraft after more than four years. This, coupled with bumper jet orders from Middle Eastern airlines at the Dubai Airshow, sent Boeing shares up 4%. China is considering resuming purchases of Boeing's 737 MAX aircraft when the U.S. and Chinese presidents meet this week at the APEC summit, Bloomberg News reported on Sunday, citing people familiar with the matter. Deliveries of Boeing's bestselling 737 MAX to Chinese airlines were halted following two deadly crashes. Boeing shares have underperformed S&P 500 in 2023Boeing shares were trading at $205.15, compared with analysts' current median price target of $250, according to LSEG data.

Persons: Thomas Hayes, Benoit Tessier, Hayes, Shivansh Tiwary, Ananya Mariam Rajesh, Shilpi Majumdar Organizations: Boeing, Dubai Airshow, APEC, Bloomberg, Paris, REUTERS, Emirates, Thomson Locations: China, Middle, U.S, Le Bourget, Paris, France, Dubai, Bengaluru

☆ US Air Force's new B-21 Raider "flying wing" bomber takes first flight - Reuters witness
▼ + stars: | 2023-11-10 | by ( Mike Stone | ) www.reuters.com time to read: +3 min

However, the Air Force has kept other price information classified, "which makes validating the proposed cost difficult," the Congressional Research Service said in a 2021 report. The Air Force plans to buy at least 100 of the planes and begin to replace B-1 and B-2 bombers. Ann Stefanek, an Air Force spokesperson said, "The B-21 Raider is in flight testing. Flight testing is a critical step in the test campaign managed by the Air Force Test Center and 412th Test Wings B-21 Combined Test Force." In early 2022, the Air Force further delayed it until 2023.

Persons: David Swanson, Ann Stefanek, Lockheed Martin, Northrop, Mike Stone, Valerie Insinna, Franklin Paul Organizations: United States Air, Northrop, Air Force, REUTERS, U.S, Air Force's, Northrop Grumman, Congressional Research Service, Pentagon, Air Force Test Center, Force, Boeing, Lockheed, Pratt, Whitney, Collins Aerospace, GKN Aerospace, BAE Systems, Franklin Paul Our, Thomson Locations: Palmdale , California, U.S, Washington

☆ Airbus bullish on jet output as profits override space charge
▼ + stars: | 2023-11-09 | by ( Tim Hepher | ) www.reuters.com time to read: +4 min

Airbus declined to elaborate on the charge, which came as the planemaker formally announced a restructuring in its Defence & Space division that has been in preparation for several months. Airbus CEO Guillaume Faury stuck to his guns, however. Airbus is producing A320-family jets in the low-50s per month instead of a planned level closer to 58, they said. On the loss-making A220, Airbus reiterated plans to raise output to 14 a month. "We are working very closely with them in the spirit of supporting them, but we also expect from Spirit to well support Airbus.

Persons: Steven Udvar, Guillaume Faury, Faury, Pratt, Safran, Whitney, Chris Calio, Spirit, Patrick Shanahan, Tim Hepher, Valerie Insinna, Allison Lampert, Matt Scuffham, Sharon Singleton, Matthew Lewis Organizations: Airbus, Defence, Space, Air Lease AL.N, Pratt & Whitney, CFM, GE Aerospace, GE, Boeing, Thomson Locations: Dubai, Paris, Washington, Montreal

☆ Here are Thursday's biggest analyst calls: Nvidia, Disney, Tesla, Instacart, Arm, Rivian, Target & more
▼ + stars: | 2023-11-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Thursday's biggest calls on Wall Street: Goldman Sachs initiates Apellis Pharmaceuticals as buy Goldman initiated the biotech company with a buy and says it sees "continued execution." Bank of America reiterates Disney as buy Bank of America said it's standing by its buy rating after Wednesday's earnings report. Goldman Sachs reiterates Arm as overweight Goldman said it's sticking with its buy rating after the stock's earnings report on Wednesday. Goldman Sachs reiterates Instacart as buy Goldman said it's sticking with its buy rating on the grocery delivery company after Instacart's earnings report on Wednesday. Morgan Stanley reiterates Rivian as overweight Morgan Stanley said it's sticking with its overweight rating on the electric vehicle company. "

Persons: Goldman Sachs, Goldman, Tesla, WK Kellogg, Kellogg, Wolfe, Instacart, Morgan Stanley, Rivian, Eli Lilly, MRK's Keytruda, Evercore, it's bullish, Parker, Wells, it's, Hein Schumacher Organizations: Apellis Pharmaceuticals, HSBC, Tesla, Barclays, JPMorgan, Bank of America, Disney, ARM, Deutsche Bank, Deutsche, Merck, pharma, TAP, Industrial, Nvidia, Anheuser, Busch InBev, Bud, Offshore, Unilever, OW, Citi Locations: North America, Montrose

Spirit plans to raise $200 million via the sale of Class A common stock as well as issue $200 million in convertible debt set to mature in 2028, the company said after the closing bell on Tuesday. Its shares fell to as low as $20.98 on Wednesday following the news and are now down more than 25% year-to-date. Spirit is a major supplier of large aircraft parts such as wings and fuselages for manufacturers including Boeing (BA.N) and Airbus (AIR.PA). Last week, Spirit projected higher-than-expected cash burn for 2023, forcing it to slash anticipated deliveries of 737 fuselages. Free cash burn will be between $275 million and $325 million for 2023, up from a previous range of between $200 million to $250 million.

Persons: Benoit Tessier, Spirit, Patrick Shanahan, Tom Gentile, Shanahan, Chibuike Oguh, Lance Tupper, Sharon Singleton Organizations: Boeing, International Paris Air, Le, REUTERS, Airbus, Thomson Locations: Le Bourget, Paris, France, U.S, New York

☆ Shares of Spirit Aero down 16% as company looks to raise cash
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsWASHINGTON, Nov 7 (Reuters) - Shares of Spirit AeroSystems (SPR.N) dropped 16% in extended trade after the company announced new measures meant to raise capital for the embattled aerospace supplier. The company announced a proposed public sale of $200 million of its Class A common stock. It also plans to issue $200 million in convertible debt set to mature in 2028. Chief Financial Officer Mark Suchinski said then that the company "continue(s) to evaluate all refinancing options to address debt," including $1.2 billion of debt set to mature in 2025, "as well as our overall liquidity." Reporting by Valerie Insinna; Editing by Chris Reese and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Benoit Tessier, planemaker, Patrick Shanahan, Mark Suchinski, Valerie Insinna, Chris Reese, Stephen Coates Organizations: Boeing, International Paris Air, Le, REUTERS, Rights, Airbus, Thomson Locations: Le Bourget, Paris, France

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