Boeing to axe 2,000 finance and HR jobs to ‘simplify corporate structure’ BOEING CUTS Boeing expects to cut about 2,000 white-collar jobs this year in finance and human resources through a combination of attrition and layoffs. Last month, the Arlington, Virginia-based plane maker announced plans to hire 10,000 workers in 2023 – having hired 15,000 staff the previous year – but said some support positions would be cut. The company confirmed a [...]
Boeing posts positive free cash flow for first time since 2018 as losses go up BOEING Boeing has posted a positive free cash flow for the first time since 2018 despite higher net losses. The US plane maker today reported a $2.3bn (£1.9bn) free cash flow for the whole of 2022, up from a loss of $4.4bn the previous year. Meanwhile, free cash flow for the three months ended 31 December [...]
Flying the green flag: Ryanair’s £140m Boeing deal will save airline ’65m litres of fuel’ a year RYANAIR Ryanair claimed its $175m (£140m) deal with Boeing’s subsidiary and technology company Aviation Partners Boeing will help it make huge cuts to fuel consumption and CO2 emissions. Under the agreement, 400 of the low-cost airline’s aircraft will be retrofitted with APB’s winglets. Also known as wingtip devices, winglets are vertical extensions attached to a plane’s [...]
Boeing shrinks loss in plane business but takes £2.4bn hit from defence unit October 26, 2022 Despite shrinking its losses in the commercial plane business by around 7 per cent to $643m (£556.8m), Boeing was hit by a $2.8bn (£2.4bn) loss from its defence unit. The commercial plane business’ revenue went up to $6.3bn driven by the resumption of 787 and 737 deliveries, as Boeing shipped 112 planes in the three [...]
Boeing says it stopped buying aluminium from Russia September 7, 2022 Boeing stopped buying aluminium from Russia earlier this year as Moscow was hit by Western sanctions following the invasion of Ukraine, the company said late last night. “Boeing suspended purchasing aluminium from Russia in March, as we suspended major operations in Russia,” it said in a statement. Russia is the world’s second largest producer of [...]
BAE backed spacecraft designer Reaction Engines prepares for IPO August 24, 2022 Boeing and Rolls-Royce backed aerospace engineering firm Reaction Engines is preparing to launch a more than £1bn initial public offering (IPO). The Oxfordshire-headquartered spaceplane designer has told shareholders it intends to raise a pre-IPO round of funding, with a view to listing its shares on public markets as soon as 2024, Sky News first reported. [...]
Boeing trims airline market forecasts July 17, 2022 US AIRPLANE maker Boeing has trimmed its projected industrywide demand for airplanes over the next 20 years, but said it expects deliveries to be stable excluding the Russian market. Boeing projects airlines worldwide will need 41,170 new airplanes over 20 years with half of the deliveries for replacement aircraft, and with single-aisle aircraft accounting for [...]
Supply chain issues will last throughout 2023 according to Boeing June 22, 2022 Supply chain issues will last throughout 2023, according to Boeing’s chief executive David Calhoun. The plane manufacturer said woes were exacerbated by a faster-than-expected return of demand. “The shift from demand to now supply issues … is remarkable, the speed with which it happened,” the chief executive said during Bloomberg’s Qatar Economic Forum today. “It’s [...]
Boeing receives additional confidence boost after Norwegian buys 50 737 MAX May 30, 2022 Boeing has received an additional confidence boost after Norwegian Air announced it has placed an order for 50 737 MAX and secured options for a further 30 planes at an undisclosed price. Norwegian called today’s order a “landmark deal” as the carrier will go back to owning a significant chunk of its fleet, which is [...]
Boeing will get back on its feet, says Lufthansa boss May 19, 2022 Boeing will get back on its feet soon, according to Lufthansa’s boss Carsten Spohr. The airline’s boss said it was backing the plane manufacturer despite the turbulent period it was going through. “Boeing as a symbol of America will get back to its feet,” the German executive said during a luncheon in Washington, adding now [...]