Boeing-supplier Spirit AeroSystems posted a lower-than-expected quarterly profit on Friday as it booked a loss related to the 787 Dreamliner program, and said its 2020 cash flow will be negative as it struggles with the 737 MAX production halt. Shares of Spirit, which makes the fuselage for the 737 MAX and engine pylons for the 787 Dreamliner, fell as much as 9% to a more than three-year low of $51.11 as the company also said it would not provide a 2020 outlook for profit and revenue until the 737 MAX jet was cleared to fly again. Spirit recorded a loss of about $34 million in the fourth quarter on Boeing's move to lower the production of its larger and more profitable 787 wide-body aircraft to 10 jets per month in 2021 from 14 currently amid a drought of orders from China.
Air Canada missed analysts' estimates for quarterly profit on Tuesday, as the airline spent more to fly less-efficient replacement aircraft due to the global grounding of Boeing Co's 737 MAX jet.
MONTREAL/OTTAWA Bombardier exited commercial aviation on Thursday, selling a loss-making plane program that ended its high-stakes gamble on a new jet that once drove it to the brink of bankruptcy.
Boeing Co booked no new orders for airplanes last month, the first time it has come up empty-handed in January since 1962, as the U.S. planemaker's once best-selling jet, the 737 MAX, remained grounded following two fatal crashes.
Shares of Ford Motor Co fell nearly 8% on Wednesday, a day after the automaker forecast a lower profit for 2020, surprising analysts who also criticized the company's management for holding back details on the earnings shortfall.
Boeing-supplier Honeywell International Inc on Friday forecast 2020 sales below market expectations, citing a hit from the production freeze of 737 MAX planes on its aerospace unit.
Boeing Co on Wednesday swung to its first annual loss since 1997 as 737 MAX costs doubled to nearly $19 billion, and the plane manufacturer indicated it would again cut production of its bigger 787 Dreamliner aircraft, currently its main source of cash. | Video
Seattle Das Flugverbot für die Boeing 737 MAX nach zwei Abstürzen hat den amerikanischen Flugzeugbauer zum ersten Mal seit mehr als 20 Jahren in die roten Zahlen rutschen lassen.
Jan 23 Union Pacific Corp shares rose
more than 2% on Thursday after executives at the railroad
operator said the U.S.-China trade pact should help reverse
slumping volumes in the second half of 2020.
Boeing Co's bill for the 737 MAX grounding could balloon to more than $25 billion, analysts estimated on Wednesday, a day after the U.S. planemaker warned of further delay in returning its once best-selling jet to service.