Boeing to pay $2.5 billion to settle U.S. criminal probe into 737 MAX crashes January 8, 2021 Plane maker Boeing will pay over $2.5bn to resolve the US Justice Department's investigation into two deadly 737 Max crashes that killed 346 people, the Justice Department said
Liftoff: Boeing’s embattled 737-Max to receive EU flying approval December 21, 2020 The European aviation safety watchdog is expected to give Boeing’s controversial 737-Max aircraft the OK to fly in the New Year. European Aviation Safety Agency (EASA) boss Patrick Ky told the BBC he was “certain” the aircraft was safe to fly. He said his inspectors had “left no stone unturned” in assessing the changes to [...]
Ryanair buys 75 newly cleared Boeing 737 Max planes December 3, 2020 Ryanair has ordered 75 new 737 Max aircraft from Boeing, just weeks after the plane was finally cleared to fly again. The new order means that Ryanair will buy 210 of the planes in total, with a value of over $22bn. Until last month the 737 Max had been grounded for nearly two years after [...]
Boeing 737 Max cleared to fly again but industry warns of demand dearth November 18, 2020 Boeing has today won approval from US regulators to begin flying its 737 Max again after the aircraft was grounded due to two fatal crashes. But industry figures warned that the engineer would struggle to ramp up production of the model for several years due to the coronavirus pandemic. It has been nearly two years [...]
Boeing to slash 7,000 more jobs after fourth straight quarter of losses October 28, 2020 Planemaking giant Boeing will reportedly slash 7,000 more jobs as the firm reported its fourth straight quarter of losses. As a result, by the end of the year the US company will have shed 30,000 jobs – 20 per cent of its 160,000-strong workforce. Boeing fell to a $466m loss for the third quarter, meaning [...]
Fatal Boeing crashes result of ‘horrific culmination’ of events September 16, 2020 The two Boeing 737 Max crashes which killed 346 passengers last year were the result of a “horrific culmination” of errors at the aerospace giant. A report into the two crashes carried out by the US Congress found that the accidents were caused by a “series of faulty technical assumptions by Boeing’s engineers, a lack [...]
European test flights for grounded Boeing 737 Max to begin next month August 27, 2020 European aviation regulators are set to start test flights for Boeing’s grounded 737 Max aircraft, with the trials due to begin next month. The European Union Aviation Safety Agency (EASA) today announced that test flights would begin on 7 September, two months after similar trials in the US. The body said that clearance from the [...]
The corporate bond market is set for a record year — but also a dangerous and dysfunctional one August 26, 2020 2020 is going to be a record year for the corporate bonds market. New issue investment grade volume in the first half of the year exceeded $2.5 trillion. Records are also being broken in high-yield junk debt, despite a rising corporate default rate. Last week, the US primary market broke through $1.3 trillion of new [...]
Boeing warns of further job cuts as coronavirus sends planemaker to $2.4bn loss July 29, 2020 Aerospace giant Boeing warned that it was considering further job cuts due to the coronavirus pandemic as the planemaker fell to a $2.4bn (£1.9bn) second quarter loss. In a letter to employees, chief executive Dave Calhoun wrote that the prolonged impact of the disease had caused “further reductions in our production rates and lower demand [...]
British Airways retires entire fleet of Boeing 747 jumbo jets July 17, 2020 British Airways marked the end of an era today as the world’s largest operator of Boeing 747s said it will retire its entire fleet of jumbo jets with immediate effect due to the coronavirus pandemic. Global travel bans imposed to stem the spread of the virus has put the future of many airline companies in [...]