Latest news with #777s
Observer
2 days ago
- Business
- Observer
Top firms bid for Musandam Airport construction works
Several local and international companies have submitted bids for the pre-qualification of contractors for the design and construction of enabling works to the Proposed Musandam Airport in the Wilayat Khasab in Musandam Governorate. Around 20 companies, including some prominent names in Oman's infrastructure development, submitted their bids before the deadline to do so on July 28. The final design of the proposed airport has been completed. The tender was floated by the Civil Aviation Authority (CAA). As per earlier reports, Musandam Airport is expected to be ready in 2028, and the project assumes significance due to operational challenges facing the current Khasab Airport, especially the possibility of operating services for 24 hours. The project will be divided into phases. The first stage will include a 45-metre-wide runway. A passenger building (to handle 250,000 passengers annually) will be constructed in addition to an air traffic control tower, runway (2,520 metres long and 45 metres wide), taxiways, a fire station, equipment repair shops, a marine rescue station, and parking lots for aircraft. There will be a new road 7-km leading to the airport. In the second phase, the runway will be expanded to 3,300 metres, capable of Airbus 330s, 350s, and Boeing 787s and 777s, in addition to increasing the number of taxiways and parking lots for aircraft, an aircraft isolation yard, and the terminal building (if required). It may be noted that CAA has plans for specialised companies for site selection studies, master plans, design, and supervision for the proposed development of Al Jabal Al Akhdhar, Masirah, and Suhar airports. The Civil Aviation Authority (CAA) has issued tenders for site selection studies, master plans, design, and supervision for the development of an airport in Masirah.
Yahoo
2 days ago
- Business
- Yahoo
Boeing Q2 results beat expectations as plane maker slashes costs
Boeing (BA) reported second quarter earnings on Tuesday that topped expectations and stemmed the tide of cash burn that has plagued the company since early last year as CEO Kelly Ortberg continues his turnaround of the beleaguered jet maker. Boeing reported revenue of $22.7 billion vs. $21.68 billion analysts had forecast, according to Bloomberg data, and a 35% jump compared to a year ago. Last year, the company was mired in a production slowdown stemming from the door plug blowout of an Alaska Airlines 737 Max jet. The company posted an adjusted loss per share of $1.24, less than the $1.40 forecast, while its operating loss came in at $176 million, deeper than the expected $161.1 million. Most importantly, Boeing's cash burn was cut to $200 million during the quarter, a massive improvement from the $2.3 billion cash burn seen last quarter and the $4.3 billion it went through in the same quarter last year. "With the start of the second half of the year, we are moving in the right direction and ahead of where I thought we would be in our recovery," CEO Kelly Ortberg said in a memo to employees. "If we continue to tackle the important work ahead of us and focus on safety, quality, and stability, we can navigate the dynamic global environment and make 2025 our turnaround year." Boeing stock was up over 2% in early trade. Read more: Live coverage of corporate earnings Boeing, once the world's largest plane maker, is in the process of turning its business around following a disastrous 2024, which began with the aforementioned door plug blowout in January. Issues with its supplier Spirit AeroSystems (SPR) and various whistleblower complaints stemming from both production of the 737 Max jet and widebody 787 Dreamliner eventually cost then-CEO Dave Calhoun his job, with Kelly Ortberg named the new CEO in late July and starting on Aug. 8. Ortberg began his turnaround plan deliberately, slowing production of Boeing's jets to hammer out production issues and slowly boosting production in close conjunction with FAA regulators. Earlier this month, Boeing announced that commercial deliveries hit 150 jets vs. 130 delivered in the first quarter and 92 delivered in the year-ago quarter. Of Q2 deliveries, 102 were 737 Max jets (compared to 69 delivered a year ago), 24 were 787s (nine last year), 13 were 777s (seven last year), and nine were 767s (six last year). As for cranking up its 737 Max production, Ortberg said in late May that Boeing's goal was to reach a rate of 42 per month by midyear and to be in a position at the end of the year to review readiness for a rate of 47 per month. Boeing said 737 production hit 38 planes per month in Q2. "Boeing continues to show great progress, but the ramp-up may be more gradual than our prior view," William Blair analyst Louie DiPalma wrote shortly after Ortberg's comments. "Our earlier note indicated that a 47 monthly production rate was possible by the end of 2025. Our new view is that the 47 aircraft per month target is more likely in mid-2026." Boeing faced another crisis in June when an Air India 787 Dreamliner crashed shortly after takeoff from Ahmedabad Airport. Initial reports, however, suggest pilot error may have caused the crash, with the engine fuel control switches moved to the "cut-off" position. Investigators are still trying to determine why that was the case. President Trump's announcement of a trade deal with the EU is seen as a positive for both the autos and aviation sectors, as there was an expectation that the EU would have retaliated with punitive tariffs on aviation products and parts coming from the US. Pras Subramanian is the lead auto reporter for Yahoo Finance. You can follow him on X and on Instagram. Sign in to access your portfolio
India.com
22-07-2025
- Business
- India.com
Top 10 Best Airlines In The World 2025: IndiGo, Air India, SpiceJet Miss List — No. 8 Will Surprise You! Check Full List Here
photoDetails english 2935348 Top 10 Best Airlines In The World: Choosing the right airline can truly change your travel experience, especially on long international flights. A good airline offers more legroom, better food, friendly service, and enjoyable entertainment. All of this can make your journey much smoother and more comfortable. But a poor airline? It can make those long hours in the air feel even longer. Every year, millions of passengers share their travel experiences. The Skytrax Awards compile those reviews to rank the best airlines in the world. These awards are among the most trusted in the aviation industry. So, let's take a quick look at the top 10 best airlines in the world, as voted by passengers in the 2025 Skytrax Awards. Notably, airlines like IndiGo, Air India, Akasa Air, SpiceJet, and Air India Express did not make it to this list. Updated:Jul 22, 2025, 05:55 PM IST Qatar Airways 1 / 10 Qatar Airways has once again been crowned World's Best Airline at the 2025 Skytrax Awards. Based in Doha, the airline is celebrated for its luxurious cabins, exceptional service, and global reach—flying to over 170 destinations across six continents with unmatched comfort and hospitality. Singapore Airlines 2 / 10 It is ranked second globally in 2025. Singapore Airlines is known for innovation and comfort. Its $850 million upgrade includes a redesigned A380 cabin. With a modern fleet of A350s and 777s, the airline consistently delivers outstanding service, efficient operations, and a relaxing in-flight experience. Cathay Pacific 3 / 10 Cathay Pacific, based in Hong Kong, secured the third spot in the 2025 Skytrax Awards. It also won Best Economy Class Airline and Best Inflight Entertainment. The airline features Michelin-starred meals, refreshed cabins, and onboard Wi-Fi, making it a strong favorite for long-haul travelers. Emirates 4 / 10 The Emirates, headquartered in Dubai, serves cities on six continents with top-notch comfort and reliability. Known for spacious cabins and excellent customer service, the airline is also committed to sustainability—investing in fuel efficiency, emission reductions, and wildlife conservation efforts to build a greener future in aviation. All Nippon Airways (ANA) 5 / 10 ANA, based in Tokyo, operates a wide network with 42 international and about 50 domestic destinations. It continues to earn praise for its high service standards, timely flights, and passenger comfort. ANA's consistent Skytrax rankings reflect its strong reputation in both Japan and worldwide. Turkish Airlines 6 / 10 The airline is established in 1933. Turkish Airlines flies to 130 countries and operates over 480 aircraft. Nearly half state-owned, it's celebrated for great onboard service, delicious catering, affordable pricing, and impressive entertainment options, making it one of the most well-connected and traveler-friendly airlines in the world. Korean Air 7 / 10 Korean Air, ranked seventh in 2025, is expanding fast after its merger with Asiana Airlines. Based in Seoul, the airline is strengthening its role as a full-service leader in Asia. It offers reliable performance, quality service, and an ever-growing network of global destinations. Air France 8 / 10 Air France climbed to eighth place in 2025 and has remained Best Airline in Western Europe for five consecutive years. A key member of the Air France-KLM Group, it offers elegant lounges, refined First Class service, and a smooth travel experience across its global network. Japan Airlines (JAL) 9 / 10 Japan Airlines has earned a 5-Star Skytrax rating for eight years running. Known for spotless cabins, on-time performance, and exceptional in-flight service, JAL continues to lead in both domestic and international travel, especially with the addition of the advanced Airbus A350-1000 to its fleet. Hainan Airlines 10 / 10 Hainan Airlines is expanding its reach with the new Airbus A321neo and now operates more than 1,700 routes. Known for safety, comfort, and growing global presence, the Chinese carrier continues to rise as a key player in the international aviation industry. (Image Credit: Wikipedia/ Social Media)
Business Insider
17-07-2025
- Business
- Business Insider
'Full Access to Indonesia' Means Another Big Boeing (NYSE:BA) Buy
If Kelly Ortberg is not preparing a fruit basket or something for President Donald Trump, it would be a sign of remarkable ingratitude. Because Trump once again proved himself the best sales rep that Ortberg never hired. Aerospace stock Boeing (BA) actually managed to slip fractionally in Tuesday afternoon's trading despite a hefty new sale in Indonesia. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. President Trump once again brought a major win to Boeing's doorstep, as a recent deal set between the United States and Indonesia meant a 19% tariff rate for Indonesia, a 0% tariff rate on American goods going into the country, and a deal for 50 new jets for Boeing. The details were kept somewhat quiet, but President Trump noted that 'many' of the Boeing planes purchased would be 777s. Given that the 777X is not yet certified, Indonesia must be prepared to wait a while to get their hands on these. Beyond that, the early numbers released suggest that the $18 billion trade surplus Indonesia has with the United States would be effectively gone as a result. But How Many 787s Can They Make? While Indonesia is waiting on its 777s, Boeing is considering production rates on its 787 lineup. And Boeing has very ambitious plans to produce the widebody jet, increasing production on them to 16 a month. This is just for one plant, as well. Specifically, the Charleston, South Carolina plant, which by itself would produce somewhere around double its previous production. The previous record production pace was 14 a month, and that rate was split between Charleston and the Everett plant in Washington state. Thus, depending on the exact rate of the split, which was unavailable, Charleston may be on track to double production outright. This would require an upgrade, as Charleston can only handle 12 787s a month, based on an analysis from 2020. But back in December, Boeing announced plans to drop a full billion dollars on upgrades for the Charleston plant. And given that Boeing wants to hit that 16-a-month target rate by 2030, the upgrade may come just in time. Is Boeing a Good Stock to Buy Right Now? Turning to Wall Street, analysts have a Strong Buy consensus rating on BA stock based on 18 Buys, two Holds and one Sell assigned in the past three months, as indicated by the graphic below. After a 24.43% rally in its share price over the past year, the average BA price target of $233.25 per share implies 1.79% upside potential.
The Star
17-07-2025
- Business
- The Star
Prabowo and Trump have struck tariff deal – but at what cost to Indonesia?
SINGAPORE: The trade deal announced on Tuesday (July 15) lowering US tariffs on Indonesian goods is seen by some as a diplomatic win for President Prabowo Subianto, though others warn that he may have overpromised and burdened Indonesia with costly commitments. US President Donald Trump broke the news on his Truth Social platform, saying that he had struck a trade pact with Indonesia following negotiations with Prabowo to avoid steeper tariffs. 'They are going to pay 19 per cent and we are going to pay nothing... We will have full access into Indonesia, and we have a couple of those deals that are going to be announced,' he later told reporters. No details have been given about the deal, which comes after deals Trump has made with Vietnam and the UK. The US President had threatened Indonesia with a 32 per cent tariff rate starting on Aug 1 in a letter last week. Prabowo on July 16 said his conversation with Trump heralded 'a new era of mutual benefit' between both sides. As part of the deal, Indonesia has committed to purchasing US$15 billion in US energy, US$4.5 billion in American agricultural products, and 50 Boeing jets, many of them 777s. The sheer scale of Indonesia's purchase commitments, and the lack of clarity on how they will be financed and integrated with national strategies, has raised eyebrows, with experts warning that the deal could set a precedent for other trade partners to demand similar 'full access' terms. Associate Professor Yohanes Sulaiman of Jenderal Achmad Yani University in West Java highlighted the plan to buy the Boeing jets, noting that national carrier Garuda Indonesia is still struggling financially and unlikely to be in a position to take on large-scale purchases. In the first quarter of 2025 alone, the state-owned carrier recorded a net loss of US$75.9 million, surpassing its already-large net loss for the entire 2024 fiscal year. When asked about the planes on July 16, President Prabowo said that Indonesia needs to grow the national carrier's presence and, to do so, new aircraft are needed. There are also doubts about the energy component. While Indonesia does import liquefied petroleum gas and other fuels, analysts say a US$15 billion commitment would run counter to the government's ambitions to reduce fossil fuel dependency and boost renewables. The scale of the energy imports is not aligned with Indonesia's energy transition goals, and this could introduce fiscal strain and policy contradictions down the line, noted Dr Siwage Dharma Negara, a senior fellow at the ISEAS – Yusof Ishak Institute. 'The arrangement doesn't necessarily reflect a balanced, win-win outcome,' he said, warning that Indonesia has to keep in mind the longer-term costs. 'It remains unclear whether the economic benefits fully justify the scale of concessions offered by Jakarta.' Indonesia's goods trade with the US reached nearly US$40 billion in 2024, with a roughly US$18 billion surplus, and key exports including electronics, footwear, car tyres, palm oil and frozen shrimp. Indonesia's central bank on July 16 delivered its fourth interest rate cut since last September, trimming its benchmark rate by 25 basis points to 5.25 per cent in a bid to support the economy amid weakening global trade and sluggish domestic demand. Sluggish household spending had already weakened growth in the first quarter, while the outlook for subsequent quarters has been clouded by the impact of US tariffs on global trade. Some observers found the direct negotiation between the two leaders notable. This growing personal rapport was most visibly demonstrated in November 2024, when Prabowo posted a video of his congratulatory call to Trump after the US presidential election, in which he offered to fly over in person, and referenced his American military training. Bank Permata economist Josua Pardede said Trump singling out Prabowo and calling him 'highly respected' was more than symbolic, chalking it up as a win for the Indonesian leader and his foreign policy approach. 'Such direct acknowledgment from a global leader underscores President Prabowo's capability to manage complex international relations and signals strength and credibility to both domestic and international stakeholders,' he said. The agreement signals that Prabowo is willing to make bold economic moves to safeguard Indonesia's interests, said Dr Siwage. 'Trump's public acknowledgment of a direct deal with Prabowo suggests that Indonesia took an active role in shaping the outcome,' he said, adding that this highlights how both leaders prefer a personal, transactional style of diplomacy. Other experts, however, cautioned that the deal may carry ripple effects across Indonesia's wider network of economic relationships. Muhammad Habib Abiyan Dzakwan from the Centre for Strategic and International Studies warned that the nature of the arrangement, involving significant import concessions, could prompt demands from other economic partners. 'What I am concerned the most is the extent of this unusual arrangement would then affect Indonesia's relations with Asean neighbours and free trade agreement partners. More partners will likely demand the same concession from Indonesia,' he said. In particular, countries like China, the archipelago's largest trading partner and one of its top investors, may view Jakarta's increasing economic overtures to the US with suspicion, he added. He cautioned that the government must ensure it has sufficient budget and fiscal space not only to meet these obligations, but also to prepare for future uncertainties that may arise. While the figures in the deal appear large, Bank Permata's Josua said the commitments are likely to be staggered over time, and may align with Indonesia's long-term infrastructure and aviation ambitions. But whether they benefit Indonesia in the long run will depend on how they create jobs and drive productivity, and how Indonesia integrates these commitments with domestic policy objectives. 'Careful negotiation and execution will be critical to ensuring that benefits are maximised and commensurate with the substantial financial outlays involved,' Josua said. - The Straits Times/ANN
