Edition:
United Kingdom

Ankit Ajmera

Spirit AeroSystems profit misses on loss tied to 787 program

28 Feb 2020

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 profit misses on 737 MAX grounding costs, shares fall

18 Feb 2020

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.

Bombardier exits commercial aviation, ending bold bet on promising jet

13 Feb 2020

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 scores no January orders for first time since 1962

11 Feb 2020

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.

Ford shares fall 8% after disappointing 2020 profit outlook

05 Feb 2020

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.

Honeywell says 737 MAX production halt to hurt 2020 sales

31 Jan 2020

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 posts first annual loss in two decades as 737 MAX costs near $19 billion

29 Jan 2020

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

737-MAX-Debakel bringt Boeing ersten Verlust seit 1997

29 Jan 2020

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.

UPDATE 3-Union Pacific shares rise as CEO says U.S.-China trade pact should help end rail slump

23 Jan 2020

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.

Wall Street pegs Boeing's 737 MAX bill at more than $25 billion

22 Jan 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.

World News