All North America articles – Page 345
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NewsGE Aviation expands job cuts to 25% of global workforce
US engine maker GE Aviation is reducing its global workforce by some 13,000 employees as part of a plan to better align its business with reduced rates of commercial aircraft production.
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NewsAir Canada expects recovery to take three years
Air Canada incurred a C$1.05 billion ($744 million) net loss in the first quarter of 2020, compared with a C$285 million net profit a year ago, and is warning that it will take “at least three years” for revenue and capacity levels to return to those seen in 2019.
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NewsWarren Buffett’s investment firm sells out of four major US carriers
Renowned investor Warren Buffett has dumped his stakes in four major US carriers, four years after joking that his firm Berkshire Hathaway was set to benefit from airlines’ tendency to increase fares ahead of its shareholder events. Buffett disclosed the decision to shareholders during Berkshire Hathaway’s 2020 event on 2 ...
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NewsBoeing clinches $25 billion in milestone capital raise
Boeing is raising $25 billion in a multi-tranche bond offering, as it buffers liquidity amid an air travel downturn that could take years from which to recover. In March, as the pandemic shut down air travel globally, Boeing had suggested that the broader US aerospace and manufacturing sector might require ...
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NewsSpirit lays off another 1,450 staff due to airframer production cuts
Spirit AeroSystems will lay off more than 1,450 additional staffers in response to Boeing’s and Airbus’ plans to reduce commercial aircraft production rates.
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NewsDelta upsizes secured private placement to $3.5bn
Delta Air Lines has priced $3.5 billion of five-year notes at 7% as it boosts its liquidity position to manage through the coronavirus pandemic.
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NewsAmerican lightens fleet load in pursuit of liquidity
American Airlines is counting on cost-saving fleet retirements and a $4.75 billion US CARES Act loan to boost its liquidity sufficiently to help see it through the next two quarters while waiting for travel demand to revive somewhat during the summer months.
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NewsTextron Aviation squeaks out Q1 profit as aircraft deliveries tumble
Textron Aviation’s first-quarter profit tumbled 97% year-on-year to $3 million due largely to an idle factory floor and sagging aircraft sales amid the coronavirus pandemic.
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NewsA220 operators advised to monitor compressor over stall risk
Carriers using Airbus A220s are being advised to monitor the operating performance of low-pressure compressors, to warn of stalls, following measures to address engine failures on the type. A220s are fitted with Pratt & Whitney PW1500G powerplants, which have been the subject of scrutiny following a series of engine failures ...
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NewsGE Aviation’s profits slide in Q1 as engine sales tumble
GE Aviation’s commercial engine sales and orders tumbled in the first quarter of 2030, as did revenue and profit, as the coronavirus took a bite from the Ohio company’s business.
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NewsWhy the US Air Force’s eVTOL effort helps private investor confidence
With the financial impact of the coronavirus looming over the lead funders of the development of electric-vertical-takeoff-and-landing aircraft, the nascent industry is set to receive a small boost from the US Air Force in calendar year 2020.
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NewsUS Air Force launches study of another hypersonic cruise missile
The US Air Force is conducting market research in search of companies capable of helping to build an air-breathing hypersonic cruise missile.
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News‘Air Force One’ gets $168 million cost overrun due to coronavirus
Boeing added a $168 million charge to its development of the US Air Force’s VC-25B presidential transport due to disruptions to its engineering process caused by coronavirus.
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NewsBoeing CEO dismisses major new commercial product launches amid pandemic uncertainty
Boeing will not unveil a major new aircraft programme anytime soon, but will continue investing funds into updates to existing products and efforts to develop next-generation manufacturing and design processes.
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NewsBoeing KC-46A refuelling boom camera redesign to cost $551 million
Total losses on the KC-46A programme have now risen to about $4.6 billion.
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NewsBoeing anticipates Q3 return of 737 Max
Boeing believes it will resume 737 Max deliveries in the third quarter of 2020, with chief executive David Calhoun saying the company is progressing well through certification work despite challenges posed by coronavirus.
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NewsBoeing has time to review 787 production strategy in light of rate cuts: CEO
Boeing has no immediate plan to restructure its 787 manufacturing footprint despite announcing a major cut in production.
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NewsMarch figures reveal scale of initial coronavirus hit on airline traffic
Figures from IATA for March show global airline passenger traffic already down by more than 50% and collective load factors down more than 20 percentage points in a further illustration of how sharply the coronavirus crisis has hit the sector.
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NewsFrontier wins DOT approval to suspend flights to several cities
The US Department of Transportation (DOT) is exempting Frontier Airlines from operating routes to Charlotte, Detroit, Boston and Providence through 10 June, as a condition of its federal payroll support.
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NewsBoeing to cut commercial aircraft staff by 15% and slash production as losses mount
Boeing is slashing its commercial aircraft workforce by more than 15% and cutting production rates in response to the coronavirus pandemic and ensuing cash crunch.