Boeing

Boeing Posts $641 Million Loss, Will Cut 10% of Workforce

Boeing Posts $641 Million Loss, Will Cut 10% of Workforce

Boeing announced financial results for first quarter of 2020 amidst a worldwide market it said was “frozen” by the coronavirus pandemic.
The aerospace giant reported revenue of $16.9 billion, a 22% drop from $22.9 billion in the same period in 2019. The company also reported a net loss of $641 million for the quarter, compared with a $2.15 billion profit in 2019.
“The Covid-19 pandemic is affecting every aspect of our business, …

Boeing to Walk Away from Embraer Joint Venture

Boeing to Walk Away from Embraer Joint Venture

Boeing said Saturday that it terminated its plans to assume control of Embraer’s jet aircraft business after the two parties failed to agree on terms by the initial termination date.
The move will save the Chicago-based aircraft manufacturer $4 billion and the company does not anticipate it will pay a break-up fee.
The deal to create a $4.75-billion joint venture was first announced in July 2018.
Embraer issued a statement on Saturday saying …

Boeing Producing Reusable 3-D-Printed Face Shields at 12 Plants

Boeing Producing Reusable 3-D-Printed Face Shields at 12 Plants

Boeing said it is manufacturing reusable 3-D-printed face shields at 12 of its sites and on Friday delivered 2,300 face shields to the Kay Bailey Hutchison Convention Center in Dallas, which is being used to treat patients with the novel coronavirus.
“Face shield production and donations are part of a larger Boeing effort to leverage company and employee resources to aid with Covid-19 recovery and relief efforts,” the company said in …

Boeing Offering Buyouts to Employees as It Adjusts to the ‘New Reality’

Boeing Offering Buyouts to Employees as It Adjusts to the ‘New Reality’

Boeing said Thursday that it will offer its employees buyouts as it does not anticipate a fast recovery for airplane manufacturers.
“It will take time for the aerospace industry to recover from the crisis,” said the company’s CEO, Dave Calhoun, in a memorandum to all employees.  Boeing, which was founded in 1916, currently employs 161,000 people.
Boeing offered voluntary layoff packages that will offer those who opt in pay and benefits.  Calhoun …

Great Moments in Travel History – April 2020

A year from now, the “Great Moments” monthly feature will presumably include multiple mentions of the various shutdowns and, one can only hope, some of the restarts of the Coronavirus Age.
Still, the month of April is commonly associated with spring and rain, as in the saying, “April showers bring May flowers.” The month is also associated with two major religious holidays that result in one of the busiest travel seasons …

American Airlines to Retire Older Boeing 737 Jets

American Airlines to Retire Older Boeing 737 Jets

American Airlines said it plans to retire some 76 Boeing 737 Next Generation jets as well as nine Airbus A330-300s wide-body airliners and 20 Embraer 190 regional jets.
The world’s largest airline currently has 304 737-800s in its fleet.  The 737 Next Generation model was produced starting in 1996 and includes the 737-600, -700, -800, and -900.
The move was announced in an online town hall meeting with the company’s employees on …

Coronavirus Update: Number of Cases Now Over 400,000, Olympics Postponed, India and U.K. Under Lockdown

Coronavirus Update: Number of Cases Now Over 400,000, Olympics Postponed, India and U.K. Under Lockdown

IN BRIEF
As the number of coronavirus infections across the globe crossed the 400,000 mark, the Tokyo 2020 Olympic Games have been postponed, coronavirus infections are doubling every three days in New York State, and India imposed a lockdown. 
TODAY’S FACTS AND FIGURES
The number of coronavirus cases across the globe is now 401,976, of which 103,754 have recovered.  The death toll now stands at 17,580.
The number of deaths from the virus …