With the announcement on Thursday by Bombardier Inc that problematic rail contracts in Europe will mean 2019 profits will be lower than expected, and because it may also have to write down the value of the joint venture with Airbus for the former C Series commercial narrow-body jet, the company’s share price fell by up
No sooner had the U.K. government confirmed it was prepared to provide financial assistance to help keep struggling domestic carrier Flybe afloat than the backlash from competitive airlines began. There have also been a number of questions raised as to why the government is prepared to help Flybe when it refused to provide any help
Delta Air Lines’ (Delta) share value increased as much as 4.5% with the announcement that fourth-quarter earnings had exceeded analysts’ highest profit estimate, according to Bloomberg data. The carrier also posted a 2.4% uptick for revenue per available seat mile and beat all expectations for quarterly revenue. According to Delta CEO Ed Bastian: “2019 was
Despite having been taken over by a consortium of businesses less than a year ago, Flybe, which handles over half of all U.K. domestic flights outside of London, is fighting for its survival, with wide speculation that the low-cost domestic carrier is about to fold. When Virgin Atlantic Cyrus Capital and Stobart Group bought the
In a massive and rapid U-turn, the Iranian authorities have now confirmed that its country’s forces mistakenly shot down a Ukraine International Airlines’ Boeing 737-800, flight 752, last Wednesday. The incident occurred shortly after take-off from Imam Khomeini International Airport, Tehran, when the plane was en route to Kyiv, Ukraine. All 176 passengers and crew
A Boeing 737-800 belonging to Ukraine International Airlines has crashed shortly after taking off from Imam Khomeini International Airport, Tehran at 6.12 a.m. local time, Wednesday. The plane, flight PS752, was heading for the capital of Ukraine, Kyiv. According to eyewitnesses, the plane was ablaze prior to crashing into the ground two miles to the
As a result of a US$540 million shave off its pretax income since the grounding of the Boeing 737 Max in March 2019, American Airlines (American) has reached an undisclosed settlement figure with Boeing Co. to cover the carrier’s losses as a consequence. The figure is not a complete settlement and does not include any
Though not strapped for cash with approximately US$20 billion currently available based on third-quarter figures, Boeing is considering increasing its debt in light of ongoing 737 MAX problems, according to the Wall Street Journal. With failure to see the stricken 737 MAX back in service after two fatal crashes, Boeing has decided to halt production
As a the result of a long-running spat between IndiGo’s co-founders, Rakesh Gangwal and Rahul Batia, parent company Interglobe Aviation has called an extraordinary general meeting for January 29 to give consideration to a proposal by Rakesh Ganwal who, with the Chinkerpoo family trust and Shobha Gangwal, holds a 37% stake in the company through
Airbus has taken full advantage of Boeing’s 737 MAX woes and even managed to exceed the company’s October’s revised goal of 860 deliveries for 2019. Having canceled many holidays and re-allocated elements of its workforce, the European plane manufacturer managed to complete a backlog of aircraft which were waiting to have their cabins adjusted. In
