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Global Jets ETF , whose largest holdings are Southwest Airlines , United Airlines , American Airlines and Delta Air , is off 7.5% just since the end of June. GE Aerospace GE Aerospace is a pure play on the rise of global air travel, according to John Belton, portfolio manager at Gabelli Funds. Just about all 18 analysts polled by LSEG consider GE Aerospace a buy, with five rating it a strong buy. Central to the investment thesis for GE Aerospace is its market leadership. "The air travel industry is a growth industry," Galluccio said.
Persons: Richard Branson, John Belton, Belton, Nicholas Galluccio, Galluccio, Morningstar, that's, Tony Bancroft, Bancroft, there's, wanderlust Organizations: Virgin Group, U.S . Global Jets ETF, Southwest Airlines, United Airlines, American Airlines, Delta Air, Transportation, Boeing, Airbus, Gabelli, International Air Transport Association, AAR Corp, Teton Advisors, Westwood, Equity, GE Aerospace GE Aerospace, Gabelli Funds, New York Stock Exchange, General Electric, GE Aerospace, LSEG, GE, Airlines, Morningstar, Growth, Max, Federal Aviation Administration, Aerospace & Defense ETF, Heico Corporation, Triumph, TransDigm Locations: U.S, Eastern Europe
Read previewBoeing's incoming CEO, Kelly Ortberg, is already signaling his intent to get the planemaker back on track. Later that month, The Seattle Times reported that Boeing's board shut down a shareholder's bid to move its headquarters back to Seattle. Outgoing CEO Dave Calhoun last year faced criticism from employees after commuting to Boeing's HQ by private jet, The Wall Street Journal reported. Airline bosses like Emirates' Tim Clark had called on Boeing to appoint a new CEO with an engineering background. Boeing's incoming CEO, Kelly Ortberg, is an aerospace veteran.
Persons: , Kelly Ortberg, Ortberg, It's, Rockwell Collins, Max, Lindsey Wasson, Maria Cantwell, Dave Calhoun, Calhoun, Tim Clark, we've, Nicolas Owens, Owens, Bob Clifford, preventively Organizations: Service, Seattle Times, Boeing, Reuters, Business, Alaska Airlines, Federal Aviation Administration, REUTERS, Commerce, Science, Transportation, Street Journal, Morningstar Locations: Seattle, Chicago, Virginia, Washington, South Carolina, Renton , Washington, Emirates, Blackstone
Ninety companies are using the AI, which can detect violations from uploaded photos and videos. This article is part of "CXO AI Playbook" — straight talk from business leaders on how they're testing and using AI. But Goetsch said Soter's AI platform could identify hazards, risks, and violations within about 30 seconds. Soter said about 90 companies were using SoterGenius, including Delta Air Lines, Ramp Health, Boston Children's Hospital, and the insurance brokerage Marsh. For example, Goetsch said one company using SoterGenius recently purchased electric forklifts and installed charging stations.
Persons: , We've, Soter, Mike Goetsch, Goetsch, SoterGenius, it's, What's Organizations: Service, Ikea, DHL, Occupational Safety, Health Administration, Federal Aviation Administration, Delta Air Lines, Health, Boston Children's Hospital Locations: London
Boeing names new CEO after losses more than triple
  + stars: | 2024-07-31 | by ( Chris Isidore | ) edition.cnn.com   time to read: +5 min
Boeing announced Robert “Kelly” Ortberg, the former CEO of supplier Rockwell Collins, will be its new CEO, effective August 8, replacing retiring Boeing CEO Dave Calhoun, who has been under fire for the company’s problems. Serious problems to solveOrtberg will have his hands full fixing the problems at Boeing, which has not posted a profitable year since 2019. It recently agreed to plead guilty to charges that its employees defrauded the Federal Aviation Administration during the original certification process for the 737 Max. The company has come under renewed scrutiny since a 737 Max plane’s door plug blew off shortly after takeoff in January. But that will keep the losses building at Boeing as it can’t make money at its current level of production.
Persons: Robert “ Kelly ” Ortberg, Rockwell Collins, Dave Calhoun, Ortberg, I’m, , ” Ortberg, Dennis Muilenburg, “ Kelly, Steven Mollenkopf, ” Rockwell Collins, Max Organizations: New, New York CNN, Boeing, Texas Instruments, United Technologies, Collins Aerospace, Federal Aviation Administration, FAA, Air Force Locations: New York
The Federal Aviation Administration has approved SpaceX to resume flights of its mainstay Falcon 9 rocket after a brief grounding, with Elon Musk's company planning to launch its next mission carrying satellites as soon as Saturday. The FAA clearance came just 15 days after the rocket suffered a rare inflight failure while in orbit during a launch of Starlink satellites. During the July 11 launch, the rocket's lower first stage, or booster — powered by nine engines — operated as expected before returning to land. A loose clamp for that tube and the intense vibration of the rocket's engine led to cracking, the company said. That cracked sense line resulted in a leak of liquid oxygen, causing damage to the rocket's engine when it attempted to restart in space.
Persons: Elon Organizations: Federal Aviation Administration, SpaceX, Falcon, FAA, CNBC
CNN —SpaceX’s Falcon 9 rocket — the most prolific launch vehicle in the world — is ready to return to flight after suffering a mission-ending failure during a routine journey earlier this month. On its website, SpaceX has already revealed that it will put the Falcon 9 back to work as soon as Saturday, launching a batch of Starlink internet satellites. If successful, the launch could put SpaceX back on track to returning to its routine but crucial work launching astronauts to the International Space Station. What happened to Falcon 9The Falcon 9, which is the smallest vehicle among SpaceX’s fleet of rockets, is the linchpin of the US rocket industry. A Falcon 9 had launched a group of Starlink satellites out of California on July 11 shortly before the mishap occurred.
Persons: CNN —, , NASA —, Jared Isaacman, Elon Musk, SpaceX, , Organizations: CNN, Federal Aviation Administration, Falcon, FAA, SpaceX, International Space, NASA, Polaris, Twitter Locations: California
Southwest Airlines is ending open seating and will offer extra legroom seats on its airplanes as mounting pressure on the carrier to increase revenue prompts the biggest changes to its business model in its 53 years of flying. The airline plans to start selling the first flights that will offer extra legroom next year, it said Thursday. When travelers choose a competitor over Southwest, the airline found in its research that its open seating model was the No. Rival carriers offer a host of options to upsell customers like extra legroom seats, premium economy or business class. Southwest will provide more details about the upcoming changes at an investor day at the end of September.
Persons: they'll, Bob Jordan, Jordan Organizations: Southwest, Southwest Airlines, Elliott Investment Management, Boeing, Federal Aviation Administration, Analysts Locations: Dallas, Delta, United
Read previewA Southwest Airlines flight that was diverted after a dangerously low descent was likely down to "pure human error," aviation experts said. A Southwest flight came dangerously close to the Courtney Campbell Causeway in Tampa. A dangerous patternIt's not the first time a Southwest flight has descended to a dangerously low altitude. In June the FAA said it was investigating a Southwest flight that dropped to 525 feet when it was 9 miles from landing in Oklahoma City. The FAA is also looking into another Southwest flight that descended to 400 feet above the ocean off the coast of Kauai, Hawaii, in April.
Persons: , Max, Richard Curran, Mark Stephens, Curran, Courtney Campbell, Sridip Kumar Mishra, Stephens, Nancy Allen, it's, Robert Katz, Katz Organizations: Service, Airlines, Boeing, Business, Air Traffic Control, TV, Fox, Aviation Administration, Aviation Management, City University of London, Delta Air Lines, aj Airbus, Tampa Bay Times, Tampa International Airport, FAA Locations: Columbus , Ohio, Tampa , Florida, Fort Lauderdale, Tampa, Tampa Bay, Oklahoma City, Kauai, Hawaii, Southwest
New York CNN —The US Department of Justice on Wednesday for the first time shared details of its finalized plea deal agreement with Boeing, in which the troubled aviation company will plead guilty to a felony charge of defrauding the US government. The plea deal is subject to approval of a federal judge. “We will continue to work transparently with our regulators as we take significant actions across Boeing to further strengthen our safety, quality and compliance programs,” Boeing said in a statement. It had already paid half the fine as part of the original plea deal in 2021. The families of victims of two fatal crashes of the 737 Max oppose the deal, the Justice Department said.
Persons: , Max, Organizations: New, New York CNN, US Department of Justice, Boeing, Federal Aviation Administration, Justice Department, Alaska Airlines Locations: New York, United States
U.S. finalizes details of Boeing 737 Max plea deal
  + stars: | 2024-07-24 | by ( ) www.cnbc.com   time to read: +1 min
Boeing confirmed it had filed a detailed plea agreement with the Justice Department. "We will continue to work transparently with our regulators as we take significant actions across Boeing to further strengthen our safety, quality and compliance programs," the company said. As part of the deal, the planemaker agreed to spend at least $455 million over the next three years to boost safety and compliance programs, the filing said. The deal also imposes an independent monitor, who will have to publicly file annual progress reports, to oversee the firm's compliance. Boeing will be on probation during the monitor's three-year term and it can be extended by a year if Boeing does not comply with the terms.
Persons: Reed O'Connor Organizations: Department, Boeing, Federal Aviation Administration, Justice Department, Max
This story is available exclusively to Business Insider subscribers. The best Delta customers can hope for is a refund. AdvertisementCompensation policies for cancellations and delays are in the fine print of contracts between airlines and customers buying tickets. For airline customers in the US, Green recommended keeping receipts for tickets, cabs to connecting flights, and other expenses that Delta may reimburse for rebooked flights. Ordinary airline customers, he said, ought to consult their travel insurance policies.
Persons: , They're, Pete Buttigieg, Mary Schiavo, Schiavo, Motley Rice, Justin T, Green, Mark Dombroff, Fox Rothschild, CrowdStrike, Buttigieg, Delta Organizations: Service, Business, Federal Aviation Administration, US Department of Transportation, Transportation, Falcon, Microsoft, Department of, Airlines, Kreindler LLP, Fox, of Transportation's, of Aviation, Protection, Delta Locations: FlightAware, Federal, Europe, Delta
Read previewThe FAA is investigating after a Southwest Airlines plane flew dangerously close to the ocean. The FAA told BI it had opened an investigation. It's the third report of a Southwest flight descending to a dangerously low altitude this year. In June, the FAA said it was investigating a Southwest flight that descended to 525 feet nine miles out from Will Rogers World Airport in Oklahoma City. AdvertisementThe FAA is also investigating another Southwest flight that was just 400 feet above the ocean off the coast of Kauai, Hawaii, in April, Bloomberg first reported.
Persons: , Max, Courtney Campbell, Kent Davis, Will Organizations: Service, Southwest Airlines, Boeing, CNN, Fox, Business, Tampa International, Federal Aviation Administration, FAA, Pilots, Will Rogers, Airport, Bloomberg Locations: Columbus , Ohio, Tampa , Florida, Fort Lauderdale, Oklahoma City, Kauai, Hawaii
A Boeing 777X airplane takes off during its first test flight from the company's plant in Everett, Washington, January 25, 2020. FARNBOROUGH, England — Boeing won orders for at least 40 wide-body jetliners from Korean Air, including the yet-to-be-certified 777X jetliner, in a vote of confidence for the struggling manufacturer. The order, announced at the Farnborough Airshow outside of London, includes 20 777X planes, the largest in Boeing's commercial jet lineup, and 20 787-10 Dreamliner planes, both long-range jets. Korean Air CEO Walter Cho said he expected to start receiving the planes later this decade. "If I wasn't assured, I would not have ordered it," Cho said at a news conference of Korean Air's order.
Persons: Walter Cho, Cho, whoever's Organizations: Boeing 777X, England — Boeing, Korean Air, U.S . Federal Aviation Administration, Boeing, Delta Air Lines, Airbus Locations: Everett , Washington, FARNBOROUGH, England, Korean, Farnborough, London
Delta Air Lines canceled more than a thousand flights on Sunday, leading Secretary of Transportation Pete Buttigieg to single out the airline as it struggles to recover three days after a global software outage disrupted the aviation industry and grounded flights globally. Delta canceled about 1,300 flights on Sunday, roughly the same number as each of the previous two days, and delayed another 1,600, according to flight tracking website FlightAware. The tech outage on Friday hit airlines especially hard. A flawed update from CrowdStrike, whose software is used around the world, forced Allegiant Air, American Airlines, Spirit Airlines and United Airlines to ground flights, according to the Federal Aviation Administration. It canceled about 1,200 flights each on Friday and Saturday, according to FlightAware, while cancellations for other airlines moderated into the hundreds or dozens.
Persons: Transportation Pete Buttigieg, Buttigieg Organizations: Delta Air Lines, Transportation, Delta, American Airlines, Spirit Airlines, United Airlines, Federal Aviation Administration
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
CNN —One person was critically injured in a stabbing at Miami International Airport late Saturday evening, according to the Miami-Dade Police Department, prompting the evacuations of two concourses. Normal airport operations have since resumed, police said in a news release Sunday morning. “Without provocation, the subject attacked the victim by stabbing her multiple times and attempted to throw her over the railing,” the release said. Passengers were evacuated from Concourses H and J in the airport’s south terminal as a precaution, and operations resumed after all passengers were rescreened, airport officials said. The Federal Aviation Administration received more than 2,000 reports of unruly passengers in 2023, a 15% decrease from the previous year.
Persons: , Jackson, J, Organizations: CNN, Miami International Airport, Miami - Dade Police Department, Authorities, Dade, Rescue, Trauma, Passengers, “ Authorities, Dade Police, Federal Aviation Administration Locations: Miami
Pope said Boeing is on the right path to improving its manufacturing quality, safety and predictability of deliveries, a "transformational change" that she said will take years. "It still doesn't take away the reality that we've disappointed" our customers, she said at a press conference before the Farnborough Airshow, outside of London. "This plan is not a three month plan," said Pope. As part of the leadership shakeup that promoted Pope to head the commercial unit, Boeing's CEO Dave Calhoun said he would step down by year's end. Boeing reports quarterly results on July 31 and is set to report charges from that unit, Colbert said at the same press conference.
Persons: Stephanie Pope, Max, Pope, haven't, Dave Calhoun, Ted Colbert, Colbert Organizations: Boeing, MAX, LONDON, Federal Aviation Administration, Farnborough, FAA, Air Force One Locations: Renton , Washington , U.S, London
Timeline: How the CrowdStrike outage unfolded
  + stars: | 2024-07-20 | by ( Eva Rothenberg | ) edition.cnn.com   time to read: +10 min
Washington, DC, public transportation services — including trains and buses — begin experiencing delays, according to the Washington Metropolitan Area Transit Authority. At 5:30 a.m., US cybersecurity firm CrowdStrike tells customers that it was “aware of reports of crashes” of its software on Microsoft Windows operating systems, according to a company advisory viewed by CNN. Australian lenders ANZ and Westpac were also impacted, according to Downdetector, a website that tracks cyber outages. Other states also report impacts to their driving services, including Georgia, North Carolina, Texas and Tennessee. CrowdStrike would take steps “to prevent anything like this from happening again,” according to a statement on the company’s website.
Persons: Ted Wheeler, they’re, We’re, Charlotte, Biden, Joe Biden, George Kurtz, , Brigham, Dana, Blood, Andrea Cefarelli, Jenny Ficenec, , Kurtz, CrowdStrike Organizations: New, New York CNN, Federal Aviation Administration, American Airlines, FAA, Allegiant Airlines, Spirit Airlines, Washington Metropolitan Area Transit Authority, Metropolitan Transportation Authority, Microsoft, CNN, CrowdStrike’s, Fortune, White, National Security, Global, Australia’s Commonwealth Bank, Bank of Israel, ANZ, Westpac, ASB Bank . Portland, Emergency, Dispatch, United Airlines, Air Lines, Hartsfield Jackson International, Charlotte Douglas International Airport, , Miami International Airport, Customs, Border, Alaska State Troopers, Phoenix Police Department, Computer, Police, Rescue, Federal Communications Commission, US Department of Homeland Security, CrowdStrike, Social, US Department of Justice, UPS, FedEx, Massachusetts Department of Transportation, Vehicle, Mass, Penn Medicine, Northwell, Emory Healthcare, Farber Cancer Institute, Memorial Sloan Kettering Cancer Center, Provincial Health Services Authority, New York Blood Center, Northeast, Centers of America, Assurance Locations: New York, Alaska, Arizona, Delta, United, Washington, DC, New York City, North, Georgia, North Carolina , Texas, Tennessee, Massachusetts, Pennsylvania, Atlanta, Boston, British Columbia, New, Northeast United States, North Carolina, Virginia
CNN —Officials in New York launched an investigation Saturday after a person died in a small plane crash in Niagara County. It is unclear how many divers were on board before the crash, Niagara County Sheriff Michael Filicetti said at a news conference Saturday. A brush fire also reportedly began around the crash site, according to the release. The sheriff called the plane crash “an unfortunate incident” and added that local and federal law enforcement partners are working to determine what led to the crash. The pilot’s name was not released pending family notification, according to the Niagara County Sheriff’s Office’s statement.
Persons: , Tammy L, Jones, Niagara County Sheriff Michael Filicetti, ” Filicetti, Peter Knudson, Knudson Organizations: CNN, Cessna, Federal Aviation Administration, FAA, Niagara County Sheriff, National Transportation Safety Locations: New York, Niagara County, Lake, Youngstown , New York
CNN —All flights from several major US airlines – including Delta, United and American Airlines – were grounded Friday morning due to a communication issue, according to the Federal Aviation Administration. The ground stop impacts all flights from the airlines, regardless of their destination, said the FAA. It’s unclear how long the ground stop will last, though the FAA suggested an update would be available by 5 a.m. Their grounding comes after a significant Microsoft outage brought Frontier Airlines to a standstill for hours on Thursday – though the ground stop for those airlines has since been lifted. The FAA also announced Friday morning all Allegiant flights would be grounded.
Persons: Frontier, SunCountry Organizations: CNN, American Airlines, Federal Aviation Administration, FAA, Microsoft, Frontier Airlines Locations: Delta, United, United States
Airports across the United States slowly descended into chaos early Friday after a worldwide tech outage disrupted flights and stranded passengers. At least five airlines — Allegiant Air, American, Delta, Spirit and United — issued ground stops, according to the Federal Aviation Administration. is closely monitoring a technical issue impacting IT systems at U.S. airlines,” the agency said in a statement. “Several airlines have requested F.A.A. assistance with ground stops for their fleets until the issue is resolved.”It was unclear how long the ground stops were expected to last, but it was causing some headaches for travelers.
Persons: Organizations: Federal Aviation Administration Locations: United States, Delta
Here’s what to know if you’re planning to travel this weekend. David J. Phillip/APUS-based carriers American Airlines, United Airlines, Delta Air Lines, Allegiant Airlines, SunCountry and Frontier Airlines all reported issues on Friday. Crews have limits on their working hours, so staffing challenges cascade along with flight delays. That all depends on the type of ticket you have, the airline you’re flying with and whether you have travel insurance (which is always a good idea). If you’re set to travel soon, wherever you are in the world, it’s worth double checking your individual journey status before you travel.
Persons: What’s, It’s, CrowdStrike, David J, Phillip, Cirium, it’s, William Sikora III, you’re, ” Lousson Smith, Aaron Chown, Trenitalia Organizations: CNN, Microsoft, United Airlines, American Airlines, Delta Air Lines, Allegiant Airlines, Frontier Airlines, Federal Aviation Administration, FAA, Ryanair, Air, Turkish Airlines, KLM Royal Dutch Airlines, AirAsia, Dubai, Philadelphia International, Berlin, Amsterdam’s, Edinburgh Airport, CNN Travel, EU, Insurance, Airlines, British Airways, National Rail, Washington , D.C, Washington Metropolitan Area Transit Authority, Metropolitan Transportation Authority, MTA Locations: Air France, Europe, ” Spain’s, Madrid, Barcelona, Delta, , London's Victoria, London, Italy, Washington ,, New York
All flights for US airlines United Airlines, Delta Air Lines, and American Airlines were grounded early on Friday, with the Federal Aviation Administration (FAA), citing communication issues. Passengers and airline pilots wait at Newark International Airport after United Airlines and other airlines grounded flights because of a worldwide tech outage. Jaipur International AirportJaipur International Airport has confirmed that “flights nationwide” have been affected by the outage. Incheon International Airport, SeoulSouth Korea’s Incheon International Airport said Air Premia, Eastar Jet and several other airlines had been affected. Taoyuan International Airport, TaiwanTaiwan’s Taoyuan International Airport said several airlines at the airport had been impacted.
Persons: it’s, Bing Guan, ” SunCountry, , Ezra Acayan, Andrew Gobeil, John F, Charlotte Douglas, Indira, Paris Charles de Gaulle, Charles de Gaulle Organizations: CNN, United Airlines, Delta Air Lines, American Airlines, Federal Aviation Administration, FAA, United Airlines United Airlines, Delta Air Lines Delta Air Lines, Newark International Airport, Reuters, Air, Allegiant, Microsoft, . Frontier Airlines Frontier Airlines, Spirit Airlines, Porter Airlines, Toronto, AirAsia AirAsia, Ninoy Aquino, Getty Images, Getty Images Cebu Pacific Air Cebu Pacific Air, Qantas Qantas, Singapore Airlines Singapore Airlines, LATAM Airlines LATAM Airlines, Hartsfield, Jackson Atlanta International, Jackson Atlanta International Airport, Dallas Fort Worth International, Chicago O’Hare International, Chicago, International, Kennedy International Airport, Port, Charlotte Douglas International Airport, North Carolina Charlotte Douglas International Airport, Airport, Miami International Airport, US Customs, Border Patrol, , ” Dubai International, Dubai International, Indira Gandhi International Airport, International Airport, Seoul South Korea’s, Taoyuan International Airport, Jetstar, Hong Kong Express, Gatwick, Amsterdam, Schiphol ”, ” KLM Royal Dutch Airlines, Paris Charles de Gaulle Airport, Charles Locations: Delta, United, Las Vegas , Nevada, Caribbean, Latin America, Manila, Philippines, Getty Images Cebu, Australia, Singapore, Chilean, Dallas, New York, York, North Carolina, ” Dubai, Delhi, Jaipur, Seoul South, Taoyuan, Taiwan
The outage was attributed to CrowdStrike, a cybersecurity firm whose software is used by scores of industries around the world to protect against hackers and outside breaches. At least three major U.S. airlines, American, United and Delta, grounded all flights, according to the Federal Aviation Administration, one day after a major outage at Microsoft briefly grounded some flights. “A global technical outage has impacted some airplane operations and terminal services,” the airport said on social media. Disruptions were also reported at Berlin Brandenburg Airport, Schiphol Airport in Amsterdam and Dubai International Airport. Microsoft said the problem had affected multiple systems for customers in the central United States.
Persons: CrowdStrike, ” Michelle McGuinness, Australia’s, Organizations: United, Federal Aviation Administration, Microsoft, Sydney Airport, , Cyber Security, Berlin Brandenburg Airport, Dubai International Locations: Australia, Amsterdam, Phoenix, United States
CNN —A significant Microsoft outage brought low-cost carrier Frontier Airlines and some competitors to a standstill for hours after a regulator halted departures. “Our systems are currently impacted by a Microsoft outage, which is also affecting other companies,” Frontier said in a statement on its website. The Federal Aviation Administration said Frontier asked it to pause the airline’s departures across the United States. “Due to a global outage at a third party vendor, our booking, check-in, and trip-managing capabilities are temporarily unavailable,” SunCountry said on its site. United, Southwest and American Airlines said they were not impacted by the outage.
Persons: , SunCountry, ” SunCountry, ” Allegiant Organizations: CNN, Microsoft, Frontier Airlines, , Federal Aviation Administration, Frontier, FAA, American Airlines Locations: United States, Central, Southwest
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