Sunak’s subsidy scheme will save just one job per company in the business travel sector September 30, 2020 Last week, the chancellor outlined his Winter Economy Plan — trying to balance the needs of the economy with our health and wellbeing. No enviable task. Listening to his polished performance in the Commons, it would be easy to conclude that the chancellor’s new approach — underpinned by a Job Support Scheme and extended tax [...]
Boeing ‘mulls raising more debt’ as aerospace giant feels the pinch January 6, 2020 Boeing is said to be considering whether to raise more debt to boost its finances, which have come under intense strain from the grounding of its 737 Max jet. The firm has already taken a nearly $10bn (£7.6bn) hit on the 737 Max since the second of two crashes involving the jet happened in March [...]
Boeing scraps festive bonuses in UK amid ‘challenging time’ for aerospace giant January 5, 2020 Boeing’s UK employees will be glad to have put 2019 behind them, after the aerospace giant reportedly capped off a dismal year by cancelling workers’ festive bonuses. The US aerospace giant has been feeling the pinch in recent months, as it loses billions of dollars over the ongoing grounding of its best-selling 737 Max jet. [...]
Boeing mulls whether to cut 737 Max production as delays drag on December 16, 2019 Boeing is considering whether to cut production of the grounded 737 Max jet, after the US aviation regulator said it would not approve the plane’s return to service before 2020. The company’s board is midway through a two-day meeting in Chicago, and the company could make an announcement on production plans as soon as late [...]
Aerospace engineer Senior mulls selling aerostructures division December 9, 2019 Senior, an engineering supplier to the likes of Boeing and Daimler, has admitted it is thinking about selling off its aerostructures division, in a deal that could be worth up to £450m. Shares in the FTSE 250 company rose 5.5 per cent today after it confirmed reports that emerged over the weekend that a sale [...]
Airbus announces mammoth Middle Eastern jet orders worth more than $30bn November 18, 2019 Airbus has announced orders for more than 170 planes this morning, in a mammoth set of deals valued at more than $30bn at list prices. Air Arabia, a low-cost Emirati carrier has ordered 120 narrow-body planes including the A320neo and A321 XLR models, while Dubai government airline Emirates placed an order for 50 of the [...]
Qinetiq maintains full year outlook as it increases US presence November 14, 2019 Defence and security company Qinetiq maintained its guidance for the full financial year this morning, as it announced that its US presence would increase to around 25 per cent of group revenue. Read more: Qinetiq on track to make £106m proft target The figures Underlying operating profit rose 16 per cent in Qinetiq’s half year [...]
Meggitt boosts 2019 guidance after strong defence performance but warns 737 Max ban will squeeze margins November 12, 2019 Aerospace engineers Meggitt raised their full year guidance on the back of the company’s third quarter results, which saw overall revenue growth of 11 per cent. The results, which the group described as “stronger than previously expected”, have prompted the Bournemouth-based company to raise guidance to six to seven per cent, up from four to [...]
Boeing’s chief executive offered to forego his bonuses over the 737 Max crisis November 5, 2019 Boeing chief executive Dennis Muilenburg has offered to forego all bonuses for 2019 as the firm scrambles to deal with the fallout from two deadly crashes of its 737 Max jet. The embattled boss, who has been stripped of his dual role of chief executive and chairman of the aerospace giant in recent weeks, faced [...]
Boeing chief executive accused of lying as senators grill him on 737 Max crashes October 29, 2019 Boeing chief executive Dennis Muilenburg faced accusations of lying this afternoon during a bruising hearing on how his company certified its 737 Max jet to fly, after two crashes in the last year killed 346 people. Muilenburg, who was last month stripped of the dual role of chief executive and chairman, has spent much of [...]