|Bid||346.73 x 1000|
|Ask||347.10 x 800|
|Day's Range||345.89 - 349.17|
|52 Week Range||292.47 - 446.01|
|Beta (3Y Monthly)||1.41|
|PE Ratio (TTM)||19.87|
|Earnings Date||Jul 23, 2019 - Jul 29, 2019|
|Forward Dividend & Yield||8.22 (2.41%)|
|1y Target Est||421.05|
Boeing said on Monday engine issues were the key factor to be resolved in the development of its new 777X aircraft, but that the plane was performing well as it moves towards a flight test later this year. "The long pole in the tent remains engine issues,” Boeing commercial airplanes boss Kevin McAllister said of General Electric's GE9X engine. GE Aviation said earlier it had found excess wear on a compression part on the GE9X engine developed for the all-new 777X twin-jet, forcing it to redesign the part.
GE Aviation has found unexpected wear in a part for its new engine for the new Boeing 777X passenger plane, forcing a delay of several months while it redesigns and tests the part, the engine maker said on Monday. Boeing , which had been expected to stage the maiden flight of the world's largest twin-engined jetliner in June, is now waiting for the GE9X engine while GE tests the part, called a compressor stator, GE Aviation Chief Executive David Joyce said.
Airbus is poised to break records by launching the longest-range narrow-body jetliner at the Paris Airshow this week, but jetmakers are having to rethink their mantra on comfort as they squeeze ever more miles out of jets designed for shorter trips. Airbus and Boeing have been promoting new carbon-fibre long-haul aircraft such as the 787 Dreamliner and A350, which offer roomier cabins and help passengers avoid jet lag by providing a cabin pressure closer to that felt on the ground. Airbus is about to push that further by adding a longer stride to the A321neo with its new A321XLR, whose range of 4,500 nautical miles leapfrogs the out-of-production Boeing 757 and nudges it into the long-jump category enjoyed by wide-body jets.
The chief executive of Boeing said the company made a "mistake" in handling a problematic cockpit warning system in its 737 Max jets before two crashes killed 346 people, and he promised transparency as the aircraft maker works to get the grounded plane back in flight. Speaking before the industry-wide Paris Air Show, Boeing CEO Dennis Muilenburg told reporters Boeing's communication with regulators, customers and the public "was not consistent. The U.S. Federal Aviation Administration has faulted Boeing for not telling regulators for more than a year that a safety indicator in the cockpit of the top-selling plane didn't work as intended.
Boeing 737 MAX jets have been grounded on safety concerns, but CEO expects a return to service this year. Photograph: Handout ./Reuters The head of Boeing has admitted the company made communications errors in its dealings with regulators and airlines in the wake of the 737 Max jet crisis that grounded the entire fleet. Speaking on the eve of the Paris air show, the Boeing chief executive, Dennis Muilenburg, said the company’s communications were “not consistent” and that was “unacceptable”. Muilenburg added that the US aerospace group had failed to communicate “crisply” with regulators and carriers about the plane. The 737 Max was grounded globally in the aftermath of an Ethiopian Airlines crash outside Addis Ababa in March that killed all 157 people on board. It was the 737 Max’s second disaster in five months, after 189 people were killed on a Lion Air flight in Indonesia in October. Asked how the design and constructions of the 737 Max failed to capture apparent flaws in the software and sensors behind the airplane, Muilenburg said: “Clearly, we can make improvements, and we understand that and we will make those improvements.” Investigations into the Ethiopia and Indonesia accidents have centred on the Manoeuvring Characteristics Augmentation System (MCAS), which was designed to keep the aircraft stable in flight. An investigation into the Ethiopia crash has reportedly found that the MCAS software – which automatically pushes the aircraft’s nose down to guard against a loss of lift – was activated by erroneous “angle of attack” data from a single sensor, forcing the pilots into a doomed struggle to control the aircraft. Max 737 graphic Max 737 graphic Muilenburg added: “When I make comments about the previous design and how we followed those processes, that’s something we put a lot of thought and depth of analysis into. That doesn’t mean that it can’t be improved.” The Boeing boss, who has been under fire over the 737 MAX design and Boeing’s handling of the crisis, said he expected the plane to return to service this year. Muilenburg said he was “disappointed” the company wasn’t more forthcoming with information when engineers in 2017 learned that cockpit alerts intended to warn pilots about certain sensor malfunctions didn’t work or weren’t operating as intended due to a software error. The company previously said senior Boeing leaders didn’t learn about the issue until after the second crash. (May 22, 2017) Boeing 737 Max enters commercial service The first Boeing 737 Max begins commercial operations with Malindo Air. Norwegian Air is also an early adopter of the new model, operating Transatlantic flights. The model promises fuel efficiencies attractive to carriers. (October 29, 2018) Lion Air crash Lion Air flight JT610 crashes after making a sudden, sharp dive into the Java Sea 13 minutes after departing from Jakarta, Indonesia. All 189 people onboard are killed. That particular plane had been in use for less than three months. (November 6, 2018) Airspeed issues The plane's black box recorder reveals that the Lion Air plane had experienced problems with its airspeed indicators on its last four flights. (November 7, 2018) Boeing's new advice Boeing issues revised instructions on how pilots should react to erroneous readings from "angle of attack" sensors, believed to be a key factor in the Lion Air crash. (November 28, 2018) Lion Air crash report "In our view, the plane was not airworthy," is the interim finding of the official investigation into the crash. The Indonesian transport safety agency did not pinpoint a definitive cause of the accident, but said Lion Air kept putting the plane back into service despite repeatedly failing to fix a problem with the airspeed indicator. (March 10, 2019) Ethiopia Airlines crash Flight ET302 crashes approximately six minutes after taking off from the Ethiopian capital, Addis Ababa, killing all 157 people onboard. The captain had reported difficulties, and flight radar data shows the aircraft was climbing erratically with an unstable vertical airspeed. (March 12, 2019) Airspace bans The EU joins China, Singapore, Australia and New Zealand among countries that have suspended the Boeing 737 Max model from operating in their airspace. The US has said the plane is airworthy and does not need to be grounded. (March 13, 2019) Boeing grounds fleet Canada and the US become the latest nations to ground the Boeing 737 Max. Boeing itself issues a statement saying it "continues to have full confidence in the safety of the 737 Max", but that "out of an abundance of caution and in order to reassure the flying public" it is recommending the grounding of the entire global fleet of 371 aircraft. (April 4, 2019) Interim report findings The interim report into the Ethiopian Airlines crash finds that the pilots correctly followed Boeing’s emergency instructions, but were still unable to stop the plane’s nose repeatedly pointing down. The jet hit an airspeed of 500 knots (575mph), well above its operational limits, before cockpit data recordings stopped. The US Federal Aviation Administration (FAA) has faulted Boeing for not telling regulators for more than year that a safety indicator in the Max cockpit didn’t work. Pilots are angry that the company didn’t tell them about the MCAS system. Boeing has been working round the clock on a fix to allay safety concerns, and it is likely to remain out of service until August at the earliest, which is well into peak season for many airlines. American Airlines, a major US customer of the aircraft, has pushed its cancellations of 737 Max services into September. Reuters has reported that the FAA has tentative plans to begin test flights of proposed software fixes, possibly as early as this week. The long-anticipated certification tests, which will take several weeks to complete, have been planned with the support of European and Canadian regulators, its source reported. The 737 Max disasters have ignited tensions between air regulators on either side of the Atlantic, amid concerns over the FAA’s relationship with Boeing, including the degree of self-certification. Ethiopia chose to send the data recorders from the crash to safety investigators in Paris, and the European Union Aviation Safety Agency has indicated it would carry out its own assessment of the fix, rather than rely on the FAA in America. On Sunday, the Observer reported that pilots have also voiced fears over the safety of Boeing Dreamliners after a crucial fire-fighting system has been found to have the potential to malfunction. Sign up to the daily Business Today email or follow Guardian Business on Twitter at @BusinessDesk Boeing has issued an alert to airlines using its flagship B787 Dreamliner, warning that the switch used to extinguish an engine fire has failed in a “small number” of instances. The switch also severs the fuel supply and the hydraulic fluid to prevent flames spreading. In its alert to airlines, Boeing warns that long-term heating can cause the fire switch to stick in the locked position so it can’t be used to release the two fire extinguishers in each engine. UK airlines Tui, British Airways and Virgin Atlantic operate more than 60 Dreamliners between them. The FAA has decided not to ground the fleet, despite admitting a “risk to the flying public”.
Safety concerns, trade wars and growing security tensions in the Gulf are dampening spirits at the world's largest planemakers as they arrive at this week's Paris Airshow with little to celebrate despite bulging order books. The aerospace industry's marquee event is a chance to take the pulse of the $150-billion-a-year commercial aircraft industry, which many analysts believe is entering a slowdown due to global pressures from trade tensions to flagging economies, highlighted by a profit warning from Lufthansa late on Sunday. Humbled by the grounding of its 737 MAX in the wake of two fatal crashes, U.S. planemaker Boeing will be looking to reassure customers and suppliers about the plane's future and allay criticism of its handling of the months-long crisis.
Boeing Co engineers are reducing the scope and duration of certain costly physical tests used to certify the planemaker's new aircraft, according to industry sources and regulatory officials. As Boeing kicks off the year-long flight testing process on its new 777X, its engineers will cut hours off airborne testing by using computer models to simulate flight conditions, and then present the results to the U.S. Federal Aviation Administration (FAA) as part of the basis for certification, according to two people with direct knowledge of the strategy. Reuters could not determine when Boeing decided to move forward with the plan to cut back on physical tests or the extent to which it planned to reduce them for the 777X.
The U.S. Navy expects additional U.S. and international orders for the Boeing P-8A Poseidon maritime patrol aircraft in coming months, which should extend production by two years to late 2025, a senior U.S. Navy official told Reuters. The P-8, based on Boeing's 737-800 airframe, conducts anti-submarine warfare, anti-surface warfare and shipping interdiction, and also carries electronic support measures, torpedoes, Harpoon anti-ship missiles and other weapons. It is already operated by the U.S. Navy, Australia and India, and has been ordered by Britain, Norway, New Zealand and South Korea.
Company admits that fire extinguisher switch has failed a ‘small number’ of times. Airline pilots have voiced fears over the safety of a fleet of Boeing aircraft after a crucial fire-fighting system has been found to have the potential to malfunction. Boeing has issued an alert to airlines using its flagship B787 Dreamliner, warning that the switch used to extinguish an engine fire has failed in a “small number” of instances. The switch also severs the fuel supply and the hydraulic fluid to prevent flames spreading. UK airlines Tui, British Airways and Virgin Atlantic operate more than 60 Dreamliners between them. The US regulator, the Federal Aviation Administration (FAA), has decided not to ground the fleet, despite admitting a “risk to the flying public”. Pilots, however, claim that the safety of passengers and crew is being compromised. “If there was an engine fire on a transatlantic flight and the aircraft had one of the defective fire switches, then we would have to fly with a burning wing for up to three hours before we could safely land,” a pilot with a British airline told the Observer. In its alert to airlines, Boeing warns that long-term heating can cause the fire switch to stick in the locked position so it can’t be used to release the two fire extinguishers in each engine. The FAA has issued an airworthiness directive, mandatory instructions to air operators, announcing that the problem is “likely to exist or develop in other products of the same design” and that “the potential exists for an airline fire to be uncontrollable”. However, it stopped short of grounding the aircraft and instead ordered airlines to check the switch every 30 days. The FAA was criticised for declining to ground Boeing’s fleet of 737 Max aircraft in March after a software malfunction was suspected of causing two fatal crashes. It changed its stance after regulators in other countries banned the aircraft from flying while the accidents were investigated. Launched in 2011, the Dreamliner fleet was designed to revolutionise air travel with fuel-efficient technology and a longer flight range. The $200m (£160m) aircraft were grounded in 2013 following a series of fires caused by leaking batteries. In 2017 the FAA ordered the company to improve its quality control after metal shavings were found among electrical wiring, causing a fire hazard. This year Boeing increased production of the Dreamliner from 12 to 14 a month and announced that it would be replacing up to 900 quality control inspectors with smart technology. Critics claim that the speed of production is compromising safety. “We, as a pilot community, have found it all smacks of taking the cheap route and not the safe route,” says a pilot who spoke anonymously to the Observer. “Boeing insists that the risk of an engine fire is very low, and that’s true, but it’s Boeing’s attitude to the risk that has upset us, especially in light of recent B737 Max issues. If the fire switch malfunctions, there’s no manual override to deploy the engine fire extinguishers and therefore no way of putting out a fire, but Boeing says that it’s fine, and the airlines agree. Such is the fear of Boeing’s power that no one dares speak out.” Tui, British Airways and Virgin Atlantic all told the Observer that they abided by the safety requirements set out by aviation authorities and their aircraft had been checked and would continue to fly as normal. Boeing said that fewer than 1% of fire switches have proved defective, and that it was supporting airlines with inspections and replacement parts. “Boeing works closely with the FAA to monitor the fleet for potential safety issues and take appropriate actions,” said a spokesperson. “Engine fires are a very unlikely event and there have been no observed engine fires in the 787 fleet history.” The FAA declined to comment on pilot concerns, stating that it invited responses in February when the airworthiness directive was proposed.
NATO faces significant costs if it does not act soon to choose a successor for its ageing fleet of 14 Boeing E-3A Airborne Warning & Control System (AWACS) surveillance aircraft, often called the alliance's "eyes in the sky", senior officials said. Michael Gschossmann, general manager of the North Atlantic Treaty Organization agency that manages the AWACS fleet, said he expected to finalise by December a $750 million contract with U.S. arms maker Boeing Co to extend the life of the aircraft through 2035, with $250 million more earmarked for design, spare parts and testing. The AWACS planes are among the few military assets owned and operated by NATO, rather than individual states.
CFM International has caught up with delays in deliveries of its LEAP jet engine after keeping its assembly lines running at high speed while the Boeing 737 MAX remains grounded, the French-American engine maker said on Saturday. The LEAP engine helped Boeing and European rival Airbus upgrade their most important single-aisle models, leading to the development of the Boeing 737 MAX and the Airbus A320neo, which is also powered by the Pratt & Whitney geared turbofan. CFM officials said ahead of the Paris Airshow that the engine maker had been able to absorb earlier delays in production during the grounding of the 737 MAX.
Uncertainty over a Boeing jet and apprehension about the global economy hover over the aircraft industry as it prepares for next week's Paris Air Show. In recent boom years, they have become a stage for huge aircraft orders. The Boeing 737 Max has been grounded worldwide for three months after new flight software played a role in two deadly plane crashes.
The common thinking had been that secular changes like the burgeoning middle class in emerging markets and millennials’ preference for travel experiences would support traffic growth beyond that average rate, and that was what happened for a few years. Whether or not the slackening trend of the past two months lasts, commercial air-travel demand will most likely continue to grow in some capacity, Aengus Kelly, CEO of plane-lessor AerCap Holdings NV, said in a phone interview this week. The question is whether Boeing Co. and Airbus SE are already planning to build more planes than the industry will need and whether some customers may soon realize they’ve overpaid for assets or bought plane models that now look less desirable.
Airbus sought on Friday to heighten anticipation surrounding a new longer-range version of its A321neo and hinted at new orders for its larger A330neo plane ahead of a Paris Airshow overshadowed by the grounding of Boeing's 737 MAX. Sales chief Christian Scherer told a news briefing ahead of the June 17-23 event that the current longest-range A321 variant, the A321LR, had a range of 4,000 nautical miles and added "hint, hint, hint, maybe soon a little more". Airbus has already started pre-marketing the longer-range A321XLR which will allow airlines to offer long trips in narrowbody planes on routes where demand is too slim to justify taking the risk of trying to fill a larger wide-body.
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The European planemaker has grown confident that the revolutionary propulsion system will be ready for roll-out on an all-new single-aisle jet around 2035, according to people with knowledge of its planning. While the company has been public about its interest in hybrid engines, Airbus is now willing to consider powering its most important aircraft with the technology, said the people, who asked not to be named discussing internal deliberations. Timelines aren’t certain and will shift as different capabilities evolve, the people said, adding that Airbus would start with a smaller single-aisle and work its way up to a size comparable to the A321neo, which seats as many 240 people.
Boeing's (BA) F/A-18E/F multirole fighter jet is capable of performing virtually every mission in the tactical spectrum, including day/night strike with precision-guided weapons and maritime strikes.
Oman Air CEO Abdulaziz Al Raisi plans to hold talks with Airbus if Boeing does not provide a support and recovery plan for its grounded 737 MAX planes before June 17, a statement by the Omani company said on Friday. "The grounding of the 737 MAXs has had a major financial impact on Oman Air," the statement cited Raisi as saying. "The airline's expansion plans for 2019 had been significantly curtailed" and Oman Air "also suffered revenue losses and market share declines," he added.