All articles by Jon Hemmerdinger – Page 41
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NewsWheels Up loses $145m in Q3 but aims for operating profit in 2024
Charter aircraft provider Wheels Up lost $145 million in the third quarter of 2023, but executives insist a network overhaul, a partnership with Delta Air Lines and new financing position it to turn operationally profitable next year.
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NewsSpirit moves to raise $400 million and push back $1.2 billion debt repayment
Spirit AeroSystems is taking steps to strengthen its financial foundations by seeking to raise $400 million in cash and to restructure $1.2 billion in debt.
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NewsP&W’s defective disk issue found to affect more business jet engines
Dozens of Pratt & Whitney Canada PW307 turbofans on Dassault Aviation business jets may contain disks with the same manufacturing defect affecting more than 1,000 Pratt & Whitney (P&W) PW1100Gs.
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NewsEmbraer expects PW1000G work will triple revenues at Portuguese MRO provider OGMA
Embraer expects a massive revenue bump in the coming years for its Portuguese maintenance unit OGMA as it begins ramping up work on Pratt & Whitney (P&W) PW1000G geared turbofan (GTF) engines.
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NewsEmbraer turns profitable in third quarter and sticks to 2023 aircraft-delivery goal
Embraer swung to profitability in the third quarter of 2023 and still expects to meet its full-year delivery and financial expectations despite a still-struggling supply chain.
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NewsEmbraer CEO sees US pilot shortage as ‘improving’
Embraer’s chief executive sees his company’s recent success selling regional jets to US carriers as signifying that a shortage of pilots is easing.
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NewsChina Eastern orders 25 GEnx turbofans for 787s and Xiamen picks Leap-1A for A320neos
GE Aerospace and its affiliate CFM International have landed new orders from Chinese carriers for both GEnx-1B and Leap-1B turbofans.
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NewsUS government approves US airlines’ complaints about Amsterdam capacity cuts
The US government has approved complaints by JetBlue Airways and trade group Airlines for America against the government of the Netherlands and European Union for alleged violations related to capacity cuts at Amsterdam Schiphol airport.
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NewsBombardier thinks its business-jet-focused restructuring is paying off
Bombardier executives are pointing to their company’s third-quarter financial performance as evidence that a turnaround plan started several years ago is working.
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NewsBombardier sticks to 2023 delivery target as other aerospace companies reset expectations
Bombardier still expects to meet its full-year 2023 aircraft delivery target despite supply chain struggles that have prompted other aerospace manufacturers to curtail delivery expectations.
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NewsSpirit AeroSystems seeks to renegotiate contracts with Airbus as losses pile up
Spirit AeroSystems is working to renegotiate loss-making supply contracts with Airbus and to refinance more than $1 billion in debt coming due in 2025, efforts executives describe as requiring urgent attention.
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NewsSpirit AeroSystems loses $204 million in Q3 amid surging expenses and costly rework
Costly fuselage rework and increased supply chain and labour expenses pushed US aerostructures manufacturer Spirit AeroSystems to a $204 million loss in the third quarter of 2023.
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NewsGulfstream adds manufacturing capacity in Savannah for G400s, G500s and G600s
Gulfstream has completed an expansion in Savannah of the manufacturing facility where it assembles G400, G500 and G600 business jets, leaving the company prepared to increase output.
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In depthBoeing pushing production rates to keep suppliers ‘hot’ despite delivery slowdown
While Boeing will deliver fewer than expected 737s this year due to a quality problem, the company is broadly working to speed up the pace of its entire 737 production system, aiming to hit a 38-monthly rate this year.
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NewsGulfstream pulls back 2023 delivery forecast and still hopes for G700 approval this year
Gulfstream has become the latest aerospace company to trim its 2023 delivery goals as supply chain troubles prove more difficult to overcome than some industry executives suspected.
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NewsBoeing trims 737 delivery forecast as it posts $1.6bn third-quarter loss
Boeing has pared back the number of 737s it expects to deliver this year amid a quality issue involving pressure bulkheads, and lost $1.6 billion in the third-quarter of 2023.
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NewsDefective disks push P&W to $2.5bn third-quarter loss as executives stress recovery plan
RTX executives insist Pratt & Whitney (P&W) has a workable plan to address a defective disk problem that forced it to recall thousands PW1100Gs engines and that pushed the company deep into the red during the third quarter.
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NewsPratt reveals other GTF variants have disk defect but predicts minimal A220 and E-Jet impact
Two other Pratt & Whitney (P&W) geared turbofan variants are affected by the powdered-metal manufacturing problem now disrupting operators of PW1100G-powered Airbus A320neo-family aircraft.
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NewsGE Aerospace trims 2023 Leap delivery target amid ‘supplier delinquencies’
GE Aerospace’s CFM International joint venture will likely deliver fewer than planned Leap turbofans this year amid sticky supply chain issues and robust demand for new aircraft engines and services.
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NewsGE expects to become standalone aerospace business in second quarter 2024
General Electric expects to complete the divestiture of its energy division Vernova at the start of the second quarter of next year, leaving GE Aerospace as its sole surviving entity.