372.52 -0.66 (-0.18%)
After hours: 7:59PM EDT
|Bid||372.81 x 1000|
|Ask||373.10 x 1100|
|Day's range||372.68 - 378.70|
|52-week range||292.47 - 446.01|
|Beta (3Y monthly)||1.27|
|PE ratio (TTM)||42.79|
|Earnings date||23 Oct 2019|
|Forward dividend & yield||8.22 (2.19%)|
|1y target est||411.86|
The Federal Aviation Administration is under fire Friday, after an international panel of air safety regulators said the U.S. agency failed to properly review Boeing's 737 MAX jet, which was later tied to two crashes in Ethiopia and Indonesia that killed 346 people. The harshly critical report - obtained by Reuters ahead of its release Friday - was commissioned by the FAA earlier this year to look into how the agency certified the 737 MAX before the crashes. It concluded in its assessment that the so-called MCAS anti-stall system was not evaluated as a complete and integrated function of the jet, and that the FAA had inadequate awareness the system's function. The report comes as regulators continue to scrutinize Boeing's proposed software changes and training, which would eventually get the 737 back in the air. The top-selling airplane has been grounded since March, but Boeing CEO Dennis Muilenburg said he was confident in the software fixes. (SOUNDBITE) (English) BOEING CHAIRMAN, PRESIDENT AND CEO DENNIS MUILENBURG, SAYING: "I can also tell you that we have looked deeply at the MAX, and its design, and the processes over the last year, and the software update, we have extraordinary confidence in." That was him speaking earlier this month in New York, where he said he hopes the 737 MAX can return to service this quarter.
Southwest Airlines pilots predicted on Monday that the grounded Boeing 737 MAX airplane will return to the skies around February, weeks later than Boeing and airlines have projected. Southwest, United Airlines and American Airlines currently estimate the planes will be available to fly in early January. Boeing said Monday it is "working towards return to service in the fourth quarter." A key step - a certification test flight by Boeing - is not expected until early November.
Last week, American Airlines (AAL) and United Airlines (UAL) announced that they would remove all 737 MAX flights from their schedule through early January.
On October 11, an international safety panel slammed Boeing and the FAA for the faulty certification process for the Boeing 737 MAX aircraft.
The Boeing 737 MAX 8 crisis has cost a lot for everyone. Most recently, CEO Dennis Muilenburg lost his job as chair of the company’s board.
The EU's top trade official on Monday said Europe would fight until the very last moment to dissuade the United States from imposing tariffs in retaliation for illegal EU subsidies to Airbus. European nations are scrambling to prepare a response to US tariffs on billions of dollars' worth of EU goods including cheese and wine that the World Trade Organization formally approved on Monday. Set to enter into force on Friday, the European Union hopes to find common ground before then to avoid escalating trade tensions that risk further battering economies across the globe.
The World Trade Organization on Monday gave the United States final authorisation to impose tariffs on EU products in retaliation for illegal subsidies given to Airbus, in a widely expected procedural move. Earlier this month, a WTO arbitrator gave Washington the green light to slap tariffs on $7.5 billion (6.8 billion euros) worth of European Union imports, a landmark moment in the 15-year legal battle between Airbus and American planemaker Boeing.
Emirates doubts it will receive any of the 115 Boeing 777-9s it has ordered next year, its president said on Monday, as the U.S. planemaker grapples with challenges in building the jet. Emirates, a launch customer of the world's biggest twin engined jet, was to receive its first 777-9 in 2020 but the manufacturer has suspended load testing of the plane. Now it doesn't look like we will have any," Tim Clark said at a conference in Dubai.
of his chairmanship of the crisis-hit aircraft manufacturer, keeping him on as chief executive but elevating David Calhoun, its senior independent director, to head the board. In a statement, Mr Calhoun said: “The board has full confidence in Dennis as CEO and believes this division of labour will enable maximum focus on running the business with the board playing an active oversight role.” Boeing would soon appoint a new director “with deep safety experience and expertise” to the board, he added.
Boeing unveiled a shift to its leadership structure on Friday as it manages the 737 MAX crisis, announcing that Dennis Muilenburg will remain chief executive but step down as chairman. The company said splitting the roles would allow Muilenburg to focus full time on running the company "as it works to return the 737 MAX safely to service" while ensuring full support to customers sharpening Boeing's focus on safety. "This decision is the latest of several actions by the board of directors and Boeing senior leadership to strengthen the company's governance and safety management processes," it said in the statement.
Boeing CEO Dennis Muilenburg has lost his title as chairman of the troubled aircraft manufacturer, nearly a year after the first of two crashes of its 737 Max that together killed 346 people. Boeing announced late Friday that company directors decided to separate the two jobs and elected one of their own, David L. Calhoun, to serve as non-executive chairman. Earlier on Friday, a panel of international aviation regulators issued a report critical of Boeing and the Federal Aviation Administration over how the Max was approved to fly.
Separating the roles, which will enable Muilenburg to have "maximum focus" on steering daily operations, was the latest step the board has taken in recent weeks to improve executive oversight of its engineering ranks and industrial operations. Lead Director David Calhoun, a senior managing director at Blackstone Group, will takeover as non-executive chairman, Boeing said in its announcement, which came late on Friday afternoon without warning. It added that the board had "full confidence" in Muilenburg, who will retain the top job and remain on the board.
US aviation regulators came in for heavy criticism on Friday over lapses in certifying the Boeing 737 MAX aircraft, which has been grounded following two crashes that killed 346 people. The report, authored by a team of international aviation regulators, said the US Federal Aviation Administration lacked the necessary manpower and expertise to evaluate key flight-handling changes on the plane and also delegated too much to Boeing staff, hamstringing its ability to ensure the plane was safe. It comes on the heels of reports last month by the National Transportation Safety Board and the US Office of Special Counsel that also criticized the FAA's handling of MAX certification.
The U.S. Federal Aviation Administration had insufficient personnel to oversee the certification of new Boeing airplanes and should make significant reforms in how it approves new aircraft, an international aviation panel said Friday. The panel also faulted assumptions made by the airplane manufacturer in designing the 737 MAX and for not disclosing more information to the FAA.
JPMorgan Chase analyst Jamie Baker revealed on October 10 that Southwest Airlines had excluded Hawaiian flights from the recent fare hike across its network.
It's easy to see what kind of aircraft any given flight will have. Consumers may start looking for this information when the Boeing 737 Max comes back into service.
United Airlines on Friday again pushed back the timeframe for resuming service on the Boeing 737 MAX, which still needs to be recertified by regulators after two deadly crashes. United said it was removing MAX flights from its schedule until January 6. The top-selling Boeing plane has been grounded since mid-March following crashes of Lion Air and Ethiopian Airlines planes that killed 346 people.