Tag: Aerospace and Defense

Shares of Rolls-Royce jumped more than 11% to hit an all-time high on Thursday after the company reinstated its dividend and raised its profit forecast on the back of strong first-half results.

Boeing posted a bigger quarterly loss, as its troubled defense and space business exacerbated the financial strain on the U.S. planemaker that has already scaled back commercial aircraft production to tackle a quality crisis.

Delta Air Lines CEO Ed Bastian said the carrier would take a $500 million hit related to the CrowdStrike outage, CNBC reported on Wednesday.

Delta Air Lines has hired prominent attorney David Boies to seek damages from CrowdStrike and Microsoft following an outage this month that caused millions of computers to crash, leading to thousands of flight cancellations.

German arms manufacturer Rheinmetall more than doubled operating profit in the second quarter, driven by a surge in defence spending as a result of Russia’s invasion of Ukraine.

Lockheed Martin reported second-quarter earnings that blew by Wall Street estimates.

Full-year outlooks for revenue growth, profit and free cash flow were raised

Leonardo  is working with France’s Thales and Airbus  on a joint strategy for the space sector, the head of the Italian aerospace and defence group said on Tuesday.

Delta Air Lines on Thursday forecast record revenue for the third quarter thanks to booming summer travel demand, but its projection fell short of analysts’ estimates as carriers discounted fares after expanding flights.

Boeing is to plead guilty to conspiracy to defraud the US government after it violated a deal struck with the Department of Justice in the wake of two deadly crashes involving its 737 Max aircraft, prosecutors said in a court filing on Sunday.

Boeing’s long-awaited announcement that it will buy back its struggling supplier, Spirit AeroSystems, now shifts the focus of investors to the planemaker’s search for a new CEO.

Boeing (BA.N), opens new tab agreed to buy back Spirit AeroSystems (SPR.N), opens new tab for $4.7 billion in stock and Airbus moved to take on the supplier’s loss-making Europe-focused activities in return for hundreds of millions of dollars of compensation following months of talks.

The National Transportation Safety Board warned Boeing on Thursday it could lose its status as a party to the probe into a 737 MAX mid-air blowout after it violated rules by providing non-public information to media and speculating about possible causes.

Shares in Airbus fell by close to 11% on Tuesday after the company said it was cutting its targets for 2024, including aircraft deliveries and earnings.

Shares of Boeing ’s fuselage supplier, Spirit AeroSystems, were rising early Friday as a long process appears to be nearing an end.

China has imposed sanctions against some Lockheed Martin Corp subsidiaries and senior executives over U.S. arms sales to Taiwan, China’s foreign ministry said in a statement.

GE Aerospace is developing a hybrid electric engine with the hopes it will power next-generation narrow-body jets by the middle of the next decade.

U.S. senators on Tuesday attacked the CEO of Boeing for the planemaker’s tarnished safety record, overshadowing his apology to families who lost loved ones in two 737 MAX crashes and acceptance of responsibility after a January mid-air emergency.

Boeing CEO Dave Calhoun will testify before a Senate panel on Tuesday about the company’s safety and manufacturing crises after a door panel blew out of a nearly new 737 Max 9 jet in January.

Boeing stock is wobbling, a little, after it disclosed a new quality problem with its 787 Dreamliner jets.