Boeing was heading towards a possible crash but 737 MAX propels US planemaker again
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
FAQs
US planemaker Boeing's rating has been revised to 'stable' from 'negative' Global ratings agency Fitch stated on Monday, affirming its 'BBB-' rating, citing improved financial flexibility and production. The major turnaround is largely due to the progress in production of 737 MAX . The revision in outlook comes as a relief for Boeing, which has resolved its labor dispute and is undergoing a broader transformation under current CEO Kelly Ortberg. Major ratings agencies had last year warned of a possible downgrade after a strike by about 33,000 workers halted production of Boeing's best-selling jets, as per a report.Fitch now expects Boeing to reduce its gross debt below $50 billion in 2026 by repaying notes worth $7.95 billion maturing in that year, following a production ramp-up after the strike and the sale of its Jeppesen unit, Reuters reported."Sustained operational improvements, particularly continued 737 MAX production progress, should drive FCF (free cash flow) generation and EBITDA leverage metrics consistent with 'BBB-' thresholds," Fitch said in its report.The ratings agency said it will monitor Boeing's ability to sustain operational momentum and offer clearer guidance on long-term capital allocation, which could support a rating upgrade in six to 12 months.It also expects Boeing's management to continue reviewing its defense portfolio and sell non-core assets. In April, S&P had removed Boeing's rating from CreditWatch negative on improving aircraft production and lower cash burn. A CreditWatch listing reflects the increased likelihood of a downgrade.A1. Fitch is global rating agency.A2. Fitch now expects Boeing to reduce its gross debt below $50 billion in 2026 by repaying notes worth $7.95 billion maturing in that year, following a production ramp-up after the strike and the sale of its Jeppesen unit, Reuters reported.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
3 hours ago
- Economic Times
Mass layoffs in 2025: Microsoft, Meta, and more big names slash jobs — is yours next?
Live Events FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The wave of layoffs is not over. In fact, 2025 is shaping up to be another challenging year for workers in a variety of industries, including technology, retail, and even space exploration. Many of these decisions are based on AI and automation, leaving thousands to wonder if they will be around the world are reducing staff in the name of efficiency, restructuring, or preparing for an AI-powered such as Meta, Boeing, and Chevron are laying off thousands of workers, while CNN and BlackRock are making targeted reductions. The workplace is rapidly changing once two years of large-scale job losses in the tech, media, finance, manufacturing, retail, and energy sectors, layoffs and other workforce reductions are happening again in there are a variety of reasons for staff reductions, cost-cutting initiatives are occurring in tandem with technological advancements. According to a recent World Economic Forum survey, 41% of businesses globally stated that they anticipated laying off employees over the next five years due to the development of artificial job cuts have previously been announced by companies like CNN, Dropbox, and Block. Meanwhile, the WEF predicts that by 2030, tech jobs in big data, fintech, and AI will have doubled.1. Adidas – Cutting up to 500 jobs at its German headquarters to simplify operations.2. Ally – Letting go of around 500 employees (under 5% of staff) to restructure, while continuing to hire in other areas.3. Automattic – Parent of Tumblr and WordPress is reducing its global staff by 16% due to market competition and the need for efficiency.4. BlackRock – Trimming around 200 roles (about 1% of workforce) to better align with strategic goals.5. Block (formerly Square) – Laying off nearly 1,000 workers as part of a streamlining effort, not directly linked to financial issues.6. Blue Origin – Jeff Bezos' space company is cutting about 10% of staff to refocus on manufacturing and launch goals.7. Boeing – Cutting 400 jobs tied to its moon rocket program due to delays in NASA's Artemis missions.8. BP – Eliminating a total of 7,700 roles worldwide (including 3,000 contractors) to simplify its structure and cut costs.9. Bridgewater Associates – The world's largest hedge fund is letting go of about 90 employees to stay lean.10. Bumble – Slashing around 240 jobs (30% of its team) as part of a major strategic reset.11. Burberry – Cutting 1,700 jobs (18% of staff) in a bid to save £100 million by 2027 amid poor financial performance.12. Chevron – Planning to reduce 15–20% of global workforce by 2026—about 9,000 jobs—to improve efficiency and integrate Hess.13. CNN – Cutting 200 TV-focused roles as it pivots more toward digital content.14. Coty – Also undergoing job reductions, though exact figures not specified here.15. Morgan Stanley – Set to lay off up to 2,400 staff, about 2–3% of its global workforce, to improve operational efficiency.16. Paramount – Announced a 3.5% workforce cut in the U.S. as part of cost restructuring.17. Porsche – Plans to eliminate 3,900 jobs gradually over the next few years.18. Microchip Technology – Letting go of 2,000 employees due to lower demand.19. Meta (Facebook's parent) – Cutting around 5% of staff to stay lean and focused.20. Intel – Reducing at least 15% of its factory workforce, primarily in manufacturing.21. PwC (PricewaterhouseCoopers) – Planning to cut about 2% of its U.S. staff.22. Salesforce – Cutting more than 1,000 jobs as part of ongoing streamlining.23. Starbucks – Laying off 1,100 corporate roles in a reorganization businesses are restructuring due to rising costs, shifting priorities, and increased use of artificial most cases, yes. According to a World Economic Forum survey, 41% of companies expect artificial intelligence to reduce their workforce.
Time of India
4 hours ago
- Time of India
Mass layoffs in 2025: Microsoft, Meta, and more big names slash jobs — is yours next?
The wave of layoffs is not over. In fact, 2025 is shaping up to be another challenging year for workers in a variety of industries, including technology, retail, and even space exploration. Many of these decisions are based on AI and automation, leaving thousands to wonder if they will be next. Companies around the world are reducing staff in the name of efficiency, restructuring, or preparing for an AI-powered future. Companies such as Meta, Boeing, and Chevron are laying off thousands of workers, while CNN and BlackRock are making targeted reductions. The workplace is rapidly changing once again. ALSO READ: Who is Joey Chestnut, who has reclaimed hot dog eating crown in epic comeback at Nathan's contest? Live Events After two years of large-scale job losses in the tech, media, finance, manufacturing, retail, and energy sectors, layoffs and other workforce reductions are happening again in 2025. Although there are a variety of reasons for staff reductions, cost-cutting initiatives are occurring in tandem with technological advancements. According to a recent World Economic Forum survey, 41% of businesses globally stated that they anticipated laying off employees over the next five years due to the development of artificial intelligence. AI-related job cuts have previously been announced by companies like CNN, Dropbox, and Block. Meanwhile, the WEF predicts that by 2030, tech jobs in big data, fintech, and AI will have doubled. Here's a breakdown of some of the biggest names being dropped this year. 1. Adidas – Cutting up to 500 jobs at its German headquarters to simplify operations. 2. Ally – Letting go of around 500 employees (under 5% of staff) to restructure, while continuing to hire in other areas. 3. Automattic – Parent of Tumblr and WordPress is reducing its global staff by 16% due to market competition and the need for efficiency. 4. BlackRock – Trimming around 200 roles (about 1% of workforce) to better align with strategic goals. 5. Block (formerly Square) – Laying off nearly 1,000 workers as part of a streamlining effort, not directly linked to financial issues. 6. Blue Origin – Jeff Bezos' space company is cutting about 10% of staff to refocus on manufacturing and launch goals. 7. Boeing – Cutting 400 jobs tied to its moon rocket program due to delays in NASA's Artemis missions. 8. BP – Eliminating a total of 7,700 roles worldwide (including 3,000 contractors) to simplify its structure and cut costs. 9. Bridgewater Associates – The world's largest hedge fund is letting go of about 90 employees to stay lean. 10. Bumble – Slashing around 240 jobs (30% of its team) as part of a major strategic reset. 11. Burberry – Cutting 1,700 jobs (18% of staff) in a bid to save £100 million by 2027 amid poor financial performance. 12. Chevron – Planning to reduce 15–20% of global workforce by 2026—about 9,000 jobs—to improve efficiency and integrate Hess. 13. CNN – Cutting 200 TV-focused roles as it pivots more toward digital content. 14. Coty – Also undergoing job reductions, though exact figures not specified here. 15. Morgan Stanley – Set to lay off up to 2,400 staff, about 2–3% of its global workforce, to improve operational efficiency. 16. Paramount – Announced a 3.5% workforce cut in the U.S. as part of cost restructuring. 17. Porsche – Plans to eliminate 3,900 jobs gradually over the next few years. 18. Microchip Technology – Letting go of 2,000 employees due to lower demand. 19. Meta (Facebook's parent) – Cutting around 5% of staff to stay lean and focused. 20. Intel – Reducing at least 15% of its factory workforce, primarily in manufacturing. 21. PwC (PricewaterhouseCoopers) – Planning to cut about 2% of its U.S. staff. 22. Salesforce – Cutting more than 1,000 jobs as part of ongoing streamlining. 23. Starbucks – Laying off 1,100 corporate roles in a reorganization push. FAQs Why are companies like Meta and Boeing laying off employees in 2025? Many businesses are restructuring due to rising costs, shifting priorities, and increased use of artificial intelligence. Are these layoffs related to AI replacing human roles? In most cases, yes. According to a World Economic Forum survey, 41% of companies expect artificial intelligence to reduce their workforce.
Time of India
5 hours ago
- Time of India
Nearly two-thirds families of those killed in crash of Air India's Dreamliner jet compensated: Air India CEO
Air India reports that nearly two-thirds of families affected by the June 12 Dreamliner crash have received or are finalizing compensation. The airline maintains an on-ground presence in Ahmedabad and has implemented a 'safety pause' involving additional aircraft checks to enhance reliability. Air India is committed to investing in upgrades across its operations and personnel. Tired of too many ads? Remove Ads Mumbai: Nearly two-thirds families of those killed in the crash of Air India 's Dreamliner jet on June 12 have received their declared compensation so far, or the payment is in the final stages, Campbell Wilson , MD at the Tata Group-owned airline Friday told employees in a letter, reviewed by ET."Our teams have been helping families receive interim compensation . Every affected family is being directly assisted by an Air India representative, with nearly two-thirds having already received payment or are in the final stages," Wilson said. He added that the airline continues to have an on-ground presence in Ahmedabad, as required, where the Dreamliner crashed killing 241 people on board and 34 on the ground. Explaining the ongoing "safety pause" at Air India with a temporary scale-back of operations, Wilson said the "pause" is allowing voluntary additional aircraft checks and helping stabilise the flight schedule. He added that the extra aircraft ground time, with support from Boeing to check aircraft from the US manufacturer in Air India's fleet, is "allowing us to accelerate our aircraft reliability enhancement programs so that we emerge stronger than before."Elaborating on AI's commitment to investment and growth, Wilson said, "We will continue to invest in upgrading aircraft, products, service, systems, capabilities and, most of all, people." He added that delivering a "step change requires a similar uplifting of expectations, standards and mindsets."
