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Miami Herald
09-07-2025
- Business
- Miami Herald
Boeing analysts reboot stock price targets ahead of earnings
Kelly Ortberg wants Boeing (BA) to straighten up and fly right. Ortberg, who became the aerospace giant's CEO last August, said in an interview with Aviation Week that "major culture change is one of my key turnaround focus areas." Don't miss the move: Subscribe to TheStreet's free daily newsletter "I've talked to our leadership about the need to get close to the people building and designing the airplanes," he said. "We've got to be closer and helping our people be successful. I've done a lot of work in changing the culture of a company. It's not a poster on the wall." Ortberg said people watch leadership's behavior, "and that's what drives change." "This is going to be an important year as we drive that into the organization," he said. "People need to see us walk the talk from the top down." On July 8 the company reported strong second-quarter deliveries. Image source:Boeing reported Q2 deliveries from its commercial operations totaled 150 planes, including 104 of the 737, 9 of the 767, 13 of the 777 and 24 of the 787. That 150 figure was up 63% from 92 a year earlier. Boeing Defense, Space and Security delivered a total of 36 units in Q2. The 2025 second quarter was the best such period since 2018, before two fatal crashes of 737 Max planes five months apart grounded the jets from March 2019 to November 2020. More Airlines: How unused United, Southwest, Delta airline miles can change livesThe head of a low-cost airline drops hints about IPO3 major airlines secretly sold your data to the government The company made headlines last January when an Alaska Airlines flight was forced to make an emergency landing after a door plug on the Boeing 737 MAX 9 aircraft blew out. A few months later, Boeing said CEO Dave Calhoun would step down. The move was part of a broad management shakeup. An article in the July issue of CPA Journal charged that "the Boeing case is a cautionary tale of what can go wrong when a company fails to develop and implement sound internal quality controls that protect operational processes and encourage a culture of safety." "At Boeing, whistleblowers reported problems with operating processes that were ignored by management and weren't always reported to the board of directors," the authors wrote. "The company did not use internal audits to identify and correct operational problems, relying instead on FAA inspections to point out safety issues in its 737 MAX aircraft," the article continued. Boeing did not immediately respond to a request for comment. Meanwhile, investigators probing last month's fatal crash of an Air India Boeing 787 Dreamliner are closely examining whether the aircraft's fuel control switches were moved - intentionally or accidentally - just moments before the plane lost thrust and slammed into the ground, The Economic Times reported, citing a Reuters story. The London-bound jetliner crashed shortly after takeoff from Ahmedabad on June 12, after climbing to just 650 feet. Of the 242 people on board, only one survived, and several people were also killed on the ground. Shares of Boeing, which is scheduled to report second-quarter earnings on July 29, are up nearly 28% this year and up 23% from this time in 2024. Related: Boeing workers sent blunt message on 787 Dreamliner in leaked video In March, the U.S. Defense Department awarded Boeing the Air Force's Next Generation Air Dominance future fighter jet, known as NGAD. The sixth-generation fighter, which will replace the F-22 Raptor, will be designated the F-47. "It's the single largest investment we've ever made in a defense program," Ortberg said. "We've been investing for years. This was a well-run competition, and I think we did an excellent job in putting an offer forward that was superior to the competition." On July 3, Boeing said it had been awarded a $2.8 billion contract for the Evolved Strategic Satellite Communications program, the space-based component of the U.S. nuclear command, control and communications architecture. The initial contract is for two satellites, with options for two more in the future. On July 9 Susquehanna raised its price target on Boeing to $252 from $240 and affirmed a positive rating on the shares, according to The Fly. The investment firm updated its model following Boeing's report of the June deliveries. In light of the data, Susquehanna said, it continues to be encouraged by Boeing's progress on the commercial-production reramp. It said Boeing posted solid deliveries through the first half of 2025. Deutsche Bank raised its price target on Boeing to $245 from $235 and maintained a buy rating on the shares. The firm changed ratings in the defense sector as part of a Q2 earnings preview. U.S. defense "will again be a mixed bag this earnings season," the firm said. Related: Fund-management veteran skips emotion in investment strategy The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
France 24
13-06-2025
- Business
- France 24
War, trade and Air India crash cast cloud over Paris Air Show
More than 2,400 companies from 48 countries are showing off their hardware at the week-long event at Le Bourget airfield on the outskirts of Paris. The sales rivalry between Airbus and Boeing usually drives the headlines as the world's top civilian planemakers announce many of their biggest orders at the air show. But this year's event "is much more complex", said Airbus chief executive Guillaume Faury, who also chairs the board of the Gifas association of French aerospace firms that organises the biennial event. The list of challenges is growing. Russia's war in Ukraine is stretching into its fourth year and there are fears of a wider conflict in the Middle East after Israel launched strikes on Iran on Friday, disrupting commercial flights across the region. The world economy is expected to slow sharply after US President Donald Trump launched his tariff blitz in April. And Boeing is facing a new crisis after Thursday's crash of a 787 Dreamliner operated by Air India in the city of Ahmedabad, which killed at least 265 people on board and on the ground. Boeing chief executive Kelly Ortberg cancelled plans to attend the Paris Air Show to focus on the investigation into the crash. Prior to the tragedy, Boeing had been making progress under a new leadership as the US company sought to restore trust after a series of safety and quality lapses. Boeing and its European rival, Airbus, have also been dealing with delays in delivering aircraft due to supply chain issues. Trade war US President Donald Trump's tariff onslaught has added to the issues facing the industry, which relies on a global supply chain. Trump imposed 10 percent tariffs on US imports of goods from nearly every country in April, and steeper levies on dozens of countries could kick in next month. The Trump administration is also mulling whether to impose sector-specific tariffs of between 10 and 20 percent on civil aircraft and parts. The heads of Airbus and Boeing have both called for tariffs to return to zero as had been the case since a 1979 agreement. "The entire Western aerospace industry considers that would be the best that could happen," said Faury. In a recent interview with trade journal Aviation Week, Ortberg warned that that tariffs are an added cost for Boeing, which has been financially weakened in recent years by production problems. We're "not in a position to pass those (costs) along to our customers," he told Aviation Week. "I'm hopeful that, as each of these country-by-country negotiations resolve, those tariffs will go away in the long run." The tariff problems come as the industry has yet to fully recover from effects of the Covid pandemic on its supply chain. Airbus is having trouble getting enough fuel-efficient engines for its top-selling A320 family of single-aisle jets, holding back the delivery of around 40 aircraft. The main bottleneck is a lack of toilets for widebody aircraft, said Christian Scherer, the head of Airbus's commercial aircraft division. Fighter jets The Paris Air Show is also about showing off the latest military hardware, at a time of conflicts in Ukraine and the Middle East. European countries are boosting defence budgets in the face of the Ukraine war and fears about Trump's commitment to the NATO alliance. "The geostrategic environment has led us to bolster this aspect which was in the background in previous years," said Gifas head Frederic Parisot. Some 75 companies related to weapons production will be participating at the show, with military jets, helicopters and drones to be displayed. Lockheed Martin's F-35 fifth-generation stealth multirole fighter will be featured, along with the Rafale produced by France's Dassault Aviation. Nine Israeli companies -- fewer than in the past -- are expected to have displays after a French court rejected a bid by NGOs to ban them over their alleged role in the Gaza conflict.
Yahoo
12-06-2025
- Business
- Yahoo
Budget airline axes all flights to US as airspace restrictions bite
An Icelandic-based airline has announced it plans to axe all its flights to the US, stopping trips to major cities like Washington D.C. and New York by the autumn. Low-cost airline Play operates flights between Iceland and destinations in the US and Europe, offering budget tickets on Airbus aircraft to and from its main hub, Keflavík International Airport. Play flies in and out of Iceland to European countries such as Denmark, France, Germany, and the United Kingdom. As well as Europe, the airline also directly links Iceland to Baltimore, Boston, and New York City. The airline operates on a hub-and-spoke model, meaning it uses one central airport, Keflavík, to connect to other airports around the world. Play launched its transatlantic flights in the spring of 2022, and has been flying to the US for just over three years. Play's hub-and-spoke routes have since financially underperformed, and an over-saturation in the transatlantic market has meant a growth in competition between airlines. Play will suspend its flights to New York Stewart on 1 September, followed by Boston Logan on 15 September, then finally Baltimore/Washington on 24 October. Its routes in Northern Europe are also expected to be scaled back due to Play dropping the hub-and-spoke strategy it has used since launching four years ago. The strategy has seen a loss of $20 million (£14.7 million) in 2024 in comparison to profits made in point-to-point European leisure markets. The restructuring will come as part of a proposed executive takeover by Play's CEO Einar Örn Ólafsson and Vice Chairman Elías Skúli Skúlason. In a notification to the Central Bank of Iceland, the executives said they plan to submit a voluntary offer for all outstanding shares in the airline via a new holding entity, Aviation Week reported. 'Due to airspace restrictions, several European airlines have redeployed capacity across the Atlantic, leading to overcapacity in the transatlantic market,' the offer document seen by Aviation Week says. 'Many carriers have suspended or terminated East Asia routes, facing a competitive disadvantage against Asian airlines still able to overfly Russia. 'This has increased pressure on transatlantic yields.' If the proposal is approved, Play's revised strategy hopes to target the leisure and VFR (visiting friends and relatives) market. The airline wants to target 'underserved sun destinations' and has recently announced new flights to Antalya, Faro and Agadir. 'We're focusing on the profitable aspects of the business—sun destination flights—and discontinuing those that have not yielded results,' Mr Ólafsson said. The airline will also offer wet-lease services, which provide short-term aircraft and crew to help other airlines fill gaps in schedules. The Independent has contacted Play for comment.
Time of India
07-06-2025
- Business
- Time of India
UAE airlines unveil 50 new international flight routes ahead of busy summer season
UAE airlines launch 50 new routes in June, including flights to Bangkok, Warsaw, Antalya, Almaty, and Hyderabad/ Image: KARIM SAHIB/AFP via Getty Images This June, the UAE and Gulf region's skies are experiencing an unprecedented surge in activity as over 50 new international routes are being launched by national and regional carriers, setting the stage for a record-breaking summer travel season. UAE airlines take the lead with major route expansions According to Aviation Week , these new connections, spanning Europe, Asia, the Americas and beyond, are part of a strategic push to further position the UAE as a central hub in global aviation. Major airlines including Emirates, Etihad Airways, flydubai, Air Arabia Abu Dhabi, Wizz Air Abu Dhabi and Gulf Air are at the forefront of this expansion. Emirates has launched four weekly flights to Bangkok's Suvarnabhumi Airport using Boeing 777-300ER aircraft. Etihad Airways began four weekly flights to Warsaw Chopin Airport on June 3, tapping into the growing demand for connectivity between the UAE and Poland. flydubai launched daily flights to Antalya, Turkey, on June 5, offering increased access to this popular Mediterranean destination. Wizz Air Abu Dhabi began operating three weekly flights on its Airbus A321 from June 4, opening up additional low-cost travel options. Air Arabia Abu Dhabi has introduced three weekly A320 flights to Almaty, strengthening ties with Central Asia. These developments come as the UAE prepares for a busy summer season, with travellers from the Emirates gaining greater access to both leisure and business hubs across continents. Regional carriers join global push for connectivity The regional network is also expanding significantly: Virgin Australia, backed by a 25% stake from Qatar Airways, will launch its first-ever flights to Doha starting June 12 from Sydney, followed by Brisbane on June 19 and Perth on June 26. These routes will be operated using Boeing 777-300ER aircraft wet-leased from Qatar Airways, a move that deepens the strategic partnership between the two carriers. Saudia will begin twice-weekly flights from Jeddah to Venice Marco Polo Airport starting June 13, increasing connectivity between Saudi Arabia and Italy. Royal Air Maroc adds a European connection with thrice-weekly flights from Casablanca to London Stansted beginning June 24. Jazeera Airways (Kuwait) will start flights to Sochi, Russia, on June 26, while Saudi Arabia's flyadeal will operate flights from Riyadh to Salalah, Oman, beginning June 19. Gulf Air has launched five weekly flights between Bahrain and Nairobi, expanding links between the Gulf and East Africa. These efforts are not only increasing tourism and trade flows, but also reinforcing the Middle East's role as a bridge between continents. New links to the Indian subcontinent Flights to and from South Asia, a crucial market for Gulf carriers, are also seeing expansion: Ethiopian Airlines will launch three weekly flights from Addis Ababa to Hyderabad, India, beginning June 16. Royal Jordanian is making its return to India with a four-times-weekly service from Amman to Mumbai starting June 19. These routes aim to meet growing demand from expatriates, business travellers and tourists while enhancing connectivity between two vital regions. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Buy Brass Idols - Handmade Brass Statues for Home & Gifting Luxeartisanship Buy Now Undo Global airlines tap into new frontiers The global picture is equally dynamic: United Airlines launched its first-ever nonstop service to Nuuk, Greenland from Newark Liberty International Airport, with twice-weekly flights starting June 5, marking a milestone for Arctic connectivity. Delta Air Lines is re-entering the transpacific market with daily nonstop service from Salt Lake City to Seoul Incheon, starting June 12, and adding five additional routes to South Korea. Taiwan's Starlux Airlines is expanding its U.S. footprint with four weekly flights to Ontario International Airport in Southern California, serving the large Taiwanese diaspora in Los Angeles and boosting leisure travel. These new services reinforce the broader trend of diversifying global travel and trade routes, with the UAE, Qatar, and Saudi Arabia serving as critical transit points. UAE airports ready for summer surge With this large-scale expansion, Dubai International (DXB), Abu Dhabi International (AUH), and Sharjah International (SHJ) are bracing for a major influx of passengers. The UAE's aviation infrastructure, known for efficiency and connectivity, is well positioned to handle the growing number of travellers passing through its hubs. This month's developments underscore the country's strategic ambitions and operational capabilities in the aviation sector. With new access to both emerging and mature markets, the UAE is now more than just a stopover, it's a global crossroads for the future of air travel.
Gulf Insider
07-06-2025
- Business
- Gulf Insider
Sky Is The Limit For UAE Travellers: Airlines Launch 50 Routes In June
The skies above the GCC are buzzing with increased activity as major international carriers, in partnership with regional powerhouses, expand their long-haul networks, opening vital new international links this June. This expansion is set to significantly bolster the UAE and wider GCC region's position as a global aviation hub. According to an Aviation Week report, at least 50 new routes are being launched by UAE, regional and international airlines this month, ahead of the ultra-busy summer travel period. This allows UAE travellers to explore new destinations over the summer. UAE carriers are launching multiple flights this month. Air Arabia Abu Dhabi has launched three weekly flights to Almaty on the A320. Dubai's flagship carrier, Emirates, has begun flying to Bangkok's Suvarnabhumi Airport four times a week on the Boeing 777-300ER. Etihad Airways has launched operations at Warsaw Chopin airport (four times a week), starting June 3. Dubai's second main airline, flydubai, launched daily flights to Antalya on June 5. And finally, Wizz Air Abu Dhabi has launched thrice weekly flights (on an A321) from June 4 onwards. A key highlight for the Gulf is Virgin Australia's inaugural flights to Doha, Qatar, marking a strategic expansion of its international footprint. This move comes as part of its strengthened partnership with Qatar Airways, which acquired a 25 per cent stake in the Australian carrier last September. Starting June 12, Virgin Australia will offer daily service from Sydney to Doha, followed by flights from Brisbane on June 19 and Perth on June 26. These routes will utilize Boeing 777-300ERs wet-leased from Qatar Airways, further cementing the collaborative ties between the two airlines and enhancing travel options for passengers connecting through the Middle East. Saudia is launching twice weekly flights from Jeddah to Venice Marco Polo in the region starting June 13. Royal Air Maroc is launching thrice-weekly Casablanca to London Stansted flights beginning June 24. Kuwait's Jazeera will fly to Sochi starting June 26. Gulf Air has begun operating five weekly flights from Bahrain to Nairobi. Budget carrier flyadeal will operate flights from Riyadh to Salalah beginning June 19. Furthermore, direct links to the Indian subcontinent from the GCC's extended network are growing. Ethiopian Airlines is expanding to Hyderabad, India, with three weekly flights from Addis Ababa starting June 16, facilitating connections for passengers travelling to and from the Gulf. Royal Jordanian is also returning to India by launching a four-times-weekly service to Mumbai from Amman, beginning June 19, further enhancing regional connectivity to one of the world's fastest-growing economies. Beyond the Gulf, June also sees significant network expansions by other major carriers. United Airlines is making history with its first-ever nonstop service to Nuuk, Greenland, operating a twice-weekly flight from Newark Liberty International Airport starting June 5. Delta Air Lines is also re-entering the transpacific market from Salt Lake City with daily nonstop service to Seoul Incheon from June 12, adding five routes to the South Korean capital. Taiwan's Starlux Airlines is expanding its U.S. presence with a new 4X-weekly route to Ontario International Airport in Southern California, catering to the large Taiwanese population in the greater Los Angeles area. These new routes underscore the dynamic growth in the aviation sector and the increasing importance of the UAE and GCC as crucial connecting points for global travel and trade.
