Rolls-Royce shares drop after ‘hailstorm’ of jet engine fragments cause chaos in Rome August 12, 2019 A “storm of steel and iron” raining down on people in a busy suburb of Rome over the weekend sent engine maker Rolls-Royce’s market value tumbling more than half-a-billion pounds today. Romans were forced to take cover on Saturday as hot fragments of metal fell from a Boeing 787 Dreamliner jet flying over the Fiumicino [...]
Boeing crisis: 737 Max grounding cuts global airline seats by 40m August 7, 2019 The grounding of Boeing’s 737 Max means at least 40m fewer aircraft seats will be available this summer. Aviation regulators across the globe grounded the jet in March after two crashes triggered by a faulty anti-stall system killed 346 people. Read more: Boeing takes $4.9bn hit on 737 Max groundings to compensate airlines Boeing hopes [...]
Rolls-Royce boss still cannot call time on Trent 1000 engine issue August 6, 2019 Rolls-Royce’s chief executive Warren East was today unable to predict when he will draw a line under a long-running engine problem which has grounded hundreds of passenger jets and already cost the firm billions of pounds. The blue-chip engineer today announced a further £100m loss on the Trent 1000 engine, which powers the popular long-haul [...]
Meggitt rides wave of US defence spending spree to defy Boeing 737 Max woes August 6, 2019 Engineering firm Meggitt enjoyed a five per cent spike in its share price this morning after upping prediction for annual revenue growth to between four per cent and six per cent. The FTSE 250 defence contractor has taken a significant hit in recent months, after Boeing grounded its 737 Max jet earlier this year in [...]
BBA Aviation profits down amid aerospace industry struggles August 5, 2019 Aerospace services firm BBA Aviation shares fell this morning as it announced a slight deterioration in first half profits. The firm, which provides the global aviation industry with fuelling, ground handling and passenger services, said a cooling sector was partly to blame for the results. Read more: Cobham founding family says takeover ‘against national interest’ [...]
British Airways to fight data breach fine as parent company profits stay flat August 2, 2019 British Airways will “vigorously defend itself” against its £183m fine by authorities for a data breach in which more than 400,000 customers’ information was stolen. The airline this morning said it would use all means at its disposal to avoid the record-breaking penalty. Read more: British Airways owner set for record £183m fine after 2018 [...]
Airbus warns Europe to gear up for a no-deal Brexit July 31, 2019 Airbus has called on European governments to hasten their planning for a no-deal Brexit and bury the hatchet on a long-running subsidy spat with the US. Europe’s biggest plane maker issued a warning this morning about rising trade tensions, overshadowing a strong set of second-quarter profits which pushed Airbus’s share price up 0.4 per cent. [...]
Ryanair boss Michael O’Leary blasts Boeing over 737 Max delays July 29, 2019 Ryanair could have no Boeing 737 Max jets available next year unless the aircraft manufacturer “gets its sh*t together,” said the airline’s boss, Michael O’Leary, this morning. The number of Max jets available to the Irish airline next summer could drop to zero, he said, unless the plane maker upgrades the jet so that authorities [...]
Freefall: Boeing makes $3.4bn loss on 737 Max grounding in second quarter July 24, 2019 Boeing this afternoon posted a $3.4bn (£2.7bn) quarterly loss, as it continues to struggle with mounting costs relating to the grounded 737 Max plane. The massive losses come after Boeing’s surprise announcement last week that it would set aside $4.9bn (£3.9bn) to compensate airlines for the disruption caused by the jet’s grounding. Read more: Boeing [...]
Boeing takes $4.9bn hit on 737 Max groundings to compensate airlines July 18, 2019 Boeing will set aside $4.9bn (£3.9bn) to compensate airlines for the disruption caused by the worldwide grounding of its 737 Max jet. The world’s biggest plane maker said this evening the after tax charge would slash its pre-tax profits by $5.6bn in the second quarter, when results are announced next week. Read more: Ryanair warns [...]