US0116591092 - Common Stock
Alaska Air Group said on Thursday the lost capacity from the temporary grounding of its Boeing 737 Max 9 fleet may cause the company's long-term profit growth to be below its target range of 4% to 8%. Earlier this month, Alaska Air forecast first-quarter adjusted loss per share of 55 cents to 45 cents per share, compared with analysts' estimates for a loss of $1.18 per share, according to LSEG data. The first-quarter forecast reflects an unspecified partial compensation the carrier received from Boeing following a mid-air blowout of a door plug panel in January and a 30 cent-per-share impact from the temporary grounding of MAX 9 jets after the incident, Alaska Air said earlier.
The company’s issues date back years, employees said, and were compounded by the pandemic, when it lost thousands of experienced workers.
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A revolt by U.S. airline bosses helped topple Boeing's top leadership including CEO Dave Calhoun this week, capping weeks of pressure after the freakish Jan. 5 blowout of a door plug on an Alaska Airlines 737 MAX 9 passenger jet, people familiar with the discussions said. With the company's major U.S. customers agitating for a boardroom meeting without Calhoun, Boeing's board pre-empted their demands with a major upheaval. Now, after the shakeup that took out the CEO, chairman and head of Boeing's commercial airplanes business, airlines face prolonged uncertainty over jet supplies and are calling for deeper changes - starting with picking a manufacturing heavyweight as CEO.
A revolt by U.S. airline bosses helped topple Boeing's top leadership including CEO Dave Calhoun this week, capping weeks of pressure after the freakish Jan. 5 blowout of a door plug on an Alaska Airlines 737 MAX 9 passenger jet, people familiar with the discussions said. With the company's major U.S. customers agitating for a boardroom meeting without Calhoun, Boeing's board pre-empted their demands with a major upheaval. Now, after the shakeup that took out the CEO, chairman and head of Boeing's commercial airplanes business, airlines face prolonged uncertainty over jet supplies and are calling for deeper changes - starting with picking a manufacturing heavyweight as CEO.
Aviation analysts and former Boeing employees have criticized the company's reported sidelining of engineers in its senior management ranks.
Thanks to the recent Boeing aircraft disasters, airline stocks are not flying as high as they could be. Avoid future turbulence and sell now.
Alaska Air (ALK) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.
The American plane maker has been under intense pressure since early January, when a panel blew off a brand-new Alaska Airlines 737 Max midflight. On Monday, Boeing announced that CEO David Calhoun would be stepping down from his post at the end of the year as part of broader management changes. “The eyes of the world are on us," Calhoun wrote to a note to employees, adding that the decision to leave was his and that he believed Boeing “will come through this moment a better company."
“The Alaska Airlines Flight 1282 accident was a watershed moment for Boeing,” Calhoun wrote of the door plug blowout that has consumed his company
A lot is at stake for Boeing, as it navigates the fallout from the Alaska Airlines door plug incident, 737 Max issues, and mounting regulatory hurdles.
A lot is at stake for Boeing as it navigates the fallout from the Alaska Airlines door plug incident, 737 Max issues, and mounting regulatory hurdles.
Boeing (BA) stock is in focus on executive changes. Larry Culp, who repaired then broke up GE, may be called upon to fix things.
The Dow giant is reeling from 737 Max quality and safety concerns.
Boeing CEO Dave Calhoun will step down from the embattled plane maker at the end of the year after a series of mishaps at one of America's most storied manufacturers. Board Chair Larry Kellner has also told the company he doesn't plan to stand for re-election. Boeing also said Monday that Stan Deal, president and CEO of its commercial airplanes unit, will retire from the company.
Calhoun announces plans to redesign amid biggest safety crisis for Boeing since crashes of two of its Max 8 jets in 2018 and 2019
Boeing Co CEO Dave Calhoun will step down by year-end, in a broad management shakeup brought on by the planemaker's sprawling safety crisis stemming from a January mid-air panel blowout on a 737 MAX plane. The planemaker also said that Stan Deal, Boeing Commercial Airplanes President and CEO, would retire, and Stephanie Pope would lead that business. Steve Mollenkopf has been appointed the new chair of the board.
Boeing announced Monday that its CEO, Dave Calhoun, would step down at the end of the year.
Boeing CEO Dave Calhoun will step down at the end of 2024 in part of a broad management shakeup for the embattled aerospace giant.
Dave Calhoun will step down as Boeing CEO at the end of the year. The head of the commercial airplanes division is also being replaced.
Boeing CEO Dave Calhoun, who is stepping down amid a quality control crisis, told CNBC the company needs to "slow down" and put safety before speed.
The U.S. Federal Bureau of Investigation has told passengers who were on an Alaska Airlines Boeing 737 MAX 9 that suffered a Jan. 5 mid-air emergency that they may be victims of a crime, according to letters seen by Reuters. The letters, a procedural step in some criminal investigations by the Justice Department, are a sign that its probe into the MAX 9 emergency is moving forward. This case is currently under investigation by the FBI.
The US Justice Department has sent letters to passengers from an Alaska Airlines flight where a plug covering an unused exit door blew out, informing each that they are a “possible victim of crime,” according to a copy of the letter obtained by Bloomberg News.
The FAA has been investigating Boeing since the incident took place in January
The passengers of Alaska Airlines Flight 1282 which suffered a mid-air blowout received a letter from the FBI identifying them as victims of a possible crime. NBC News' Tom Costello lays out the details of the letter and why Boeing could be subject to criminal investigation.
The FBI has told passengers on the Alaska Airlines Boeing 737 Max that lost a door-plug pane l in midflight that they might be victims of a crime. “This case is currently under investigation by the FBI,” an FBI victim specialist said in the letters, which passengers received this week. “A criminal investigation can be a lengthy undertaking, and, for several reasons, we cannot tell you about its progress at this time.”
The 171 passengers aboard an Alaska Airlines flight in January that suffered a sudden midair decompression when a fuselage panel unexpectedly blew out may have been the victims of a crime, according to the FBI.
"I think it's not helpful for the industry, and if it's not helpful for the industry, it's not helpful for Airbus," Airbus CFO Thomas Toepfer told CNBC.
Major airline chiefs plan to hold discussions with Boeing board chair Larry Kellner in meetings that will not include CEO David Calhoun after raising concerns over an Alaska Airlines mid-air emergency and ongoing production issues, sources said. A group of U.S. airline CEOs sought meetings with Boeing directors to raise express concern over the Alaska Airlines 737 MAX 9 accident, the Wall Street Journal reported earlier, saying it was an unusual sign of frustration with the manufacturer's problems and its leader Calhoun. An airline source familiar with the meetings told Reuters the carriers wanted to raise concerns directly with Kellner, who previously served as the CEO of Continental Airlines, and understands their frustration with ongoing delays and quality issues.
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The heads of leading U.S. airlines want to meet with Boeing and hear the aircraft manufacturer’s strategy for fixing quality-control problems that have gained attention since a panel blew out of an Alaska Airlines jetliner in January, people familiar with the situation said Thursday. The meeting is likely to take place next week, according to a person who spoke on condition of anonymity to describe private discussions between Boeing and the airlines. The newspaper said that Boeing CEO David Calhoun is not expected to meet with the airline officials, and that Boeing has offered to send its chairman, former Continental Airlines CEO Lawrence Kellner, and other board members.
The airline CEOs want Boeing directors to spell out their plan for fixing quality problems at the aircraft maker that came under the watchful eye of U.S. regulators following a Jan. 5 panel blowout incident on a 737 MAX, the report said. Boeing has agreed to send Chairman Larry Kellner and other board members to meet the leaders of its key U.S. customers as soon as next week, the report said.
Boeing's CFO today outlined the steps the company is taking to address a series of issues affecting the safety and reliability of its planes (not to mention the company’s reputation).
India's Akasa Air is confident that deliveries of its ordered Boeing 737 MAX jets will be on time, its CEO said, despite concerns over the U.S. planemaker's production schedule for 737s amid intense scrutiny after a mid-air incident this year. India's newest airline in January announced an order for 150 Boeing 737s, as it bets big on its international operations. Though Akasa's order does not include the 737 Max 9 version which has been in the spotlight after the incident, broader internal company scrutiny and external investigations in the U.S. have raised worries that delivery timeline of other variants of Boeing's 737 jetliner programme could be hit.
The head of the U.S. Federal Aviation Administration said Boeing must improve safety culture and address quality issues before the agency will allow the planemaker to boost 737 MAX production. The FAA in late January took the unprecedented step of telling Boeing it would not allow the company to expand 737 MAX production in the wake of a mid-air emergency on an Alaska Airlines jet earlier in the month. FAA Administrator Mike Whitaker told Reuters in an interview on Tuesday that the agency has not begun discussions yet with Boeing about hiking 737 production, and said the agency will only permit an increase when Boeing is "running a quality system safely."
The head of the U.S. Federal Aviation Administration said Boeing must improve safety culture and address quality issues before the agency will allow the planemaker to boost 737 MAX production. The FAA in late January took the unprecedented step of telling Boeing it would not allow the company to expand 737 MAX production in the wake of a mid-air emergency on an Alaska Airlines jet earlier in the month. FAA Administrator Mike Whitaker told Reuters in an interview on Tuesday that the agency has not begun discussions yet with Boeing about hiking 737 production, and said the agency will only permit an increase when Boeing is "running a quality system safely."