Aerospace and defense industry
Apple commits $1.5 billion to Globalstar for expanded iPhone satellite services
Apple committed about $1.5 billion to satellite communications company Globalstar to fund the expansion of iPhone services, the companies disclosed in a securities filing on Friday. The tech giant’s deal with Globalstar includes $1.1 billion in cash, of which $232 million will go toward the satellite company’s current debt, and a 20% equity stake. The […]
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Boeing, union reach sweetened contract offer in bid to end strike, vote scheduled for Monday
Boeing workers from the International Association of Machinists and Aerospace Workers District 751 gather on a picket line near the entrance to a Boeing production facility on the day of a vote on a new contract proposal during an ongoing strike in Renton, Washington, U.S. October 23, 2024. David Ryder | Reuters Boeing and its […]
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Boeing strike will dent last jobs report before election
Boeing workers gather on a picket line near the entrance to a Boeing facility during an ongoing strike on October 24, 2024 in Seattle, Washington. David Ryder | Getty Images Boeing‘s more than seven-week machinist strike is set to hit Friday’s U.S. jobs report — the last one that will be released before Nov. 5 […]
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United Airlines raises spending requirements to earn frequent flyer status
A United Airlines Boeing 757 departs from Los Angeles International Airport en route to New York on Sept. 19, 2024. Kevin Carter | Getty Images United Airlines customers will have to spend more to reach frequent flyer status next year, the latest move by the carrier to increase profits and give an exclusive feel to […]
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Airbus delivers first extra-long-range Airbus A321 as smaller jets fly farther
An Airbus A321XLR Neo passenger aircraft performs a flying display at the Paris Air Show in Le Bourget, Paris, France, on Monday, June 19, 2023. Nathan Laine | Bloomberg | Getty Images Airbus said Wednesday that it has handed over its first extra-long-range narrow-body aircraft, the A321XLR, marking another step in an era of smaller […]
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Rocket builder Firefly’s new CEO is working ‘maniacally’ to scale launches, spacecraft and moon missions
CEO Jason Kim in the company’s lunar mission control center. Firefly Aerospace Jason Kim just nabbed one of the most coveted yet high-pressure C-suite gigs in the space industry. As the new CEO of rocket and spacecraft builder Firefly Aerospace, he’s no longer under the Boeing umbrella after leaving his previous role leading their satellite-making […]
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How United is trying to overtake Delta as the world’s most profitable airline
United Airlines is the best-performing U.S. airline stock this year. It wants to be the most profitable carrier, too. United shares are up more than 80% since Jan. 1, more than double the gains of Delta Air Lines, the country’s most profitable airline. United has been flying for nearly a century and is the world’s […]
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Spirit Airlines stock jumps 25% after struggling budget carrier said it will sell planes, cut jobs
Spirit Airlines baggage tags are seen near a check-in counter at the Austin-Bergstrom International Airport on April 10, 2024 in Austin, Texas. Brandon Bell | Getty Images Spirit Airlines shares surged after the struggling budget carrier said it would cut jobs and sell aircraft. The carrier late Thursday laid out a plan to reduce costs and raise cash […]
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Spirit AeroSystems weighs hundreds more furloughs or layoffs if Boeing strike goes beyond Nov. 25
Boeing 737 fuselages on railcars at Spirit AeroSystems’ factory in Wichita, Kansas, US, on Monday, July 1, 2024. Nick Oxford | Bloomberg | Getty Images Spirit AeroSystems is weighing furloughs or layoffs of hundreds more employees if the Boeing machinists’ strike stretches beyond Nov. 25, a company spokesman told CNBC Thursday. Boeing’s machinists, whose strike […]
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Southwest Airlines profit tops estimates, expects higher revenue in fourth quarter
Southwest Airlines‘ third-quarter profit fell from a year ago but topped Wall Street estimates as the carrier worked to drum up revenue and fend off activist investor Elliott Investment Management. Elliott and Southwest struck a deal, announced Thursday, that averts a proxy fight and adds six of the activist’s candidates to the board. CEO Bob […]
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