The Boeing Company has reported third-quarter revenue of US$24.3bn, with GAAP earnings per share of $3.06 and core earnings per share (non-GAAP) of US$2.72, reflecting strong deliveries, services and delivery mix, and overall solid execution. The company’s cash flow guidance is increased to US$12.5bn from US$12.25bn, driven by improved performance. Full year EPS guidance is
Boeing and Singapore Airlines (SIA) formally announced a deal for 20 777-9s and 19 787-10s. The order, previously attributed to an unidentified customer, is worth US$13.8bn at current list prices. The value of this sales transaction will sustain thousands of U.S. suppliers and more than 70,000 direct and indirect U.S. jobs during the delivery period
Threats of legal action against Island Air, Hawaii’s second-largest airline, has seen the airline file for Chapter 11 bankruptcy in order to protect it from any threatened action to ground its aircraft and leave hundreds of passengers stranded and to allow it to continue inter-island operations. Only this year Island Air had invested heavily in
Two years after Bombardier first offered Airbus a stake in its CSeries of aircraft, it has been announced that the European aerospace giant is to take a majority 50.1% interest in Bombardier’s C-Series Aircraft Limited Partnership. Bombardier and Investissement Québec will own about 31% and 19%, respectively. Airbus will contribute no cash for its majority
According to Italian newspaper Corriere della Sera, the German airline Lufthansa has offered €500 million (US$590) for the ailing Italian flag-carrying airline, Alitalia. It is understood that the offer is for the planes, airport runway slots, and air crew. However, it is believed that Lufthansa’s intention will be to reduce the 12,000-strong workforce by half,
In what Carsten Spohr, chief executive of Lufthansa, said was a “great day” for his company, Germany’s largest carrier has agreed to purchase the lion’s share of Air Berlin, which filed for bankruptcy protection on August 15. The purchase price of €210m (US$245m) will see Lufthansa looking to acquire 80 of Air Berlin’s 144 aircraft,
All previously open issues between Lufthansa and the pilots’ trade union, Vereinigung Cockpit, have been settled with the signing of a new collective labor agreement (CLA), the basis of which was agreed earlier in March this year. The CLA will still be subject to trade union members’ approval in the form of a ballot. Agreements
When Air Berlin, Germany’s second-largest airline, filed for bankruptcy protection, the stricken carrier was given a government bridging loan of €150 million (US$177 million) to keep it operational while a buyer, or buyers were sought. It was hoped that the carrier would prove more attractive if it remained operational and the loan was intended to
Following on from last week’s 219.63% duty levied by the U.S. government on Canadian plane manufacturer Bombardier’s CSeries aircraft for “countervailable subsidies”, the U.S Commerce department has added a duty of 79.82%. This latter figure is based on a predetermination of what has been referred to as the investigation into the ‘dumping’ of the CSeries
According to a memo seen by Reuters, Airbus Defence and Space has frozen capital expenditure and is stressing upon its 34,000-strong workforce to take “drastic measures” to make cash savings. This has come as a result of the European aerospace giant facing the prospect of missing its 2017 cash targets by hundreds of millions of
