Veteran pilot RS Sandhu appointed as expert in Ahmedabad crash investigation
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Time of India
2 hours ago
- Time of India
Boeing Q2 results: Loss narrows to $611 million as revenue rises to $22.75 billion; labour, safety issues cloud recovery
Boeing Co posted a smaller second-quarter loss and stronger revenue, buoyed by a jump in commercial plane deliveries, even as the aerospace giant continued to grapple with safety scrutiny and looming labour unrest. The company reported a net loss of $611 million for the quarter ended June 30, down from $1.44 billion a year ago. Revenue rose to $22.75 billion from $16.87 billion, topping Wall Street expectations of $21.86 billion, as deliveries climbed to 150 commercial aircraft from 92 in the year-ago period, AP reported. On an adjusted basis, Boeing reported a loss of $1.24 per share, better than the $1.54 loss forecast by Zacks analysts. Boeing shares rose over 2% in premarket trading on Tuesday. Despite the improved performance, the company remains under pressure on multiple fronts. The National Transportation Safety Board (NTSB) in June cited 'lapses in Boeing's manufacturing and safety oversight' as contributing to the door plug panel detachment on an Alaska Airlines 737 Max 9 flight in January 2024. Boeing said it would review the NTSB findings and continue to strengthen safety and quality. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This is what he found in Paris after cleaning his canal, and believe me, you'll be surprised Daily Sport X Undo Separately, the Department of Justice reached a settlement in May that allowed Boeing to avoid criminal prosecution for misleading regulators ahead of the fatal 737 Max crashes in 2018 and 2019, which claimed 346 lives. The Max series has remained a key source of concern for both regulators and investors. On the labour front, Boeing said Sunday that more than 3,200 union workers at three St. Louis-area plants—responsible for manufacturing US fighter jets—are poised to strike on August 4. Members of the International Association of Machinists and Aerospace Workers District 837 rejected a contract proposal that included a 20% pay raise over four years. A "cooling off" period is in place until next week. Meanwhile, Boeing was also in the spotlight following the crash of a Boeing 787 operated by Air India last month, which killed at least 270 people. Investigators have yet to determine the cause, though initial findings suggest no design flaw in the aircraft, which has historically maintained a strong safety record. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Deccan Herald
2 hours ago
- Deccan Herald
Air India audit finds 51 safety lapses, from unapproved simulators to training gaps
The annual audit was not related to the deadly Boeing 787 crash last month that killed 260 people in Ahmedabad, but its findings come as the airline faces renewed scrutiny after the accident.
Time of India
2 hours ago
- Time of India
Boeing posts smaller loss as jet deliveries rise
Boeing reported a smaller second-quarter loss on Tuesday as the U.S. planemaker ramped up jet production and deliveries, recovering from a quality and regulatory crisis and a major strike that halted most production last year. After years of grappling with quality issues and production delays on its flagship 737 MAX , Boeing has cautiously ramped up monthly output this year. In May, the company produced 38 737s. Production has been stable since then, according to the company. Explore courses from Top Institutes in Please select course: Select a Course Category MCA healthcare Cybersecurity Finance Artificial Intelligence CXO Data Science others Digital Marketing Healthcare Others PGDM Design Thinking Public Policy Degree Technology MBA Product Management Project Management Data Analytics Leadership Operations Management Management Data Science Skills you'll gain: Programming Proficiency Data Handling & Analysis Cybersecurity Awareness & Skills Artificial Intelligence & Machine Learning Duration: 24 Months Vellore Institute of Technology VIT Master of Computer Applications Starts on Aug 14, 2024 Get Details "As we continue to execute our Safety & Quality Plan, there's more stability in our operations," CEO Kelly Ortberg said in a letter to Boeing employees on Tuesday. The U.S. Federal Aviation Administration had capped the production of Boeing's best selling 737 MAX jets following a mid-air panel blowout in a nearly new jet in January 2024. "We plan to seek FAA approval to increase to rate 42 when our key performance indicators (KPIs) show that we're ready," Ortberg added. Live Events It has delivered 206 737 MAX jets through the first half of the year. Wall Street closely tracks aircraft deliveries, because planemakers collect much of their payment when they hand over jets to customers. Boeing also increased 787 production at its plant in Charleston, South Carolina, from five aircraft a month to seven a month. Through the first half of the year, the planemaker has booked 668 orders, or 625 net orders after cancellations and conversions. An improvement in deliveries marks a pivotal step in Boeing's effort to rebound from years of production disruptions and crises that piled on debt, highlighting the urgency of accelerating output to restore financial stability. The planemaker posted a net loss of $612 million, or 92 cents per share, for the quarter through June, compared with $1.44 billion, or $2.33 per share, a year earlier. However, the planemaker continues to face pressure from supply chain disruptions that have delayed production and limited its ability to meet surging aerospace demand. It posted a loss of nearly $12 billion in 2024 due to challenges across its major business units including charges on its defense programs. It also remains exposed to U.S. President Donald Trump's sweeping tariffs, which could increase parts costs and further strain an already fragile supply chain.
