Airlines
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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Major airlines are cutting services to China or quitting entirely amid low travel demand, high costs
British Airlines, Qantas and Finnair are some of the airlines that are reducing services to China. Nicola Economou | Nurphoto | Getty Images Major global airlines are reducing services and, in some instances, withdrawing from China altogether as longer routes to Asia following the closure of Russian airspace have raised operational costs, while demand has […]
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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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American Airlines’ fourth-quarter forecast tops estimates
An American Airlines aircraft departs from Ronald Reagan Washington National Airport on August 28, 2024 in Arlington, Virginia. Kevin Carter | Getty Images American Airlines third-quarter earnings and forecast for the last three months of the year topped analysts’ estimates. Here is how American performed in the third quarter compared with Wall Street estimates compiled by LSEG: Earnings […]
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Southwest and Elliott near settlement which would end proxy fight, source says
A Southwest Airlines Boeing 737 jet departs from San Diego International Airport en route to St. Louis on August 24, 2024 in San Diego, California. Kevin Carter | Getty Images Activist investor Elliott Investment Management and Southwest Airlines are close to a settlement deal that would give Elliott a sizable representation on the company’s board, […]
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Boeing machinists reject new labor contract extending more than 5-week strike
People hold sings during a strike rally for the International Association of Machinists and Aerospace Workers (IAM) at the Seattle Union Hall in Seattle, Washington, on October 15, 2024. Jason Redmond | AFP | Getty Images Boeing machinists rejected a new labor deal that included 35% wage increases over four years, their union said Wednesday, […]
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New Boeing CEO sets sights on ‘leaner’ future as quarterly loss tops $6 billion
Workers picket outside the Boeing Co. manufacturing facility during a strike in Renton, Washington, US, on Thursday, Oct. 3, 2024. David Ryder | Bloomberg | Getty Images Boeing‘s new CEO Kelly Ortberg said the company needs to become leaner and improve quality, a vision he laid out for the troubled plane manufacturer ahead of his […]
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New Boeing CEO to give clues on company’s future, while striking workers vote on new contract
Ryan Bergh, a machinist at Boeing’s factory in Everett, Washington for 10 years, cheers during a strike rally for the International Association of Machinists and Aerospace Workers (IAM) at the Seattle Union Hall in Seattle, Washington, on October 15, 2024. (Photo by Jason Redmond / AFP) (Photo by JASON REDMOND/AFP via Getty Images) Jason Redmond […]
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Qatar Airways partners with Elon Musk’s Starlink for high-speed Wi-Fi milestone
Qatar Airways Group CEO Badr Al Meer (center) and Qatar Tourism Chairman Saad bin Ali Al Kharji (left) speak with Elon Musk (right) via Starlink on board the flight. Qatar Airways Qatar Airways launched Tuesday its inaugural Boeing 777 flight equipped with Elon Musk’s Starlink internet, paving the way for a new era of in-flight […]
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