Transportation
Air taxi firm Lilium plunges 45% after saying main subsidiaries will file for insolvency
German company Lilium produces flying electric passenger drones. Lilium Shares of Lilium tanked Thursday after the air taxi firm said in a filing that its two main subsidiaries will file for insolvency in the coming days. The German aerospace startup’s shares plunged more than 60% before paring losses to 45% following the news. In a U.S. regulatory filing, […]
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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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General Motors is set to report earnings before the bell. Here’s what Wall Street expects
The General Motors headquarters inside the Renaissance Center in Detroit on April 15, 2024. Jeff Kowalsky | Bloomberg | Getty Images DETROIT — General Motors is set to report its third-quarter earnings before the bell Tuesday. Here is what Wall Street is expecting, according to average estimates compiled by LSEG: Earnings per share: $2.43 adjusted […]
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Lucid CEO says Wall Street misinterpreted $1.75 billion capital raise
Lucid Motors CEO Peter Rawlinson poses at the Nasdaq MarketSite as Lucid Motors (Nasdaq: LCID) begins trading on the Nasdaq stock exchange after completing its business combination with Churchill Capital Corp IV in New York City, New York, July 26, 2021. Andrew Kelly | Reuters DETROIT — Investors misinterpreted a public offering last week by […]
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