Etihad's Group Chief Executive Officer Antonoaldo Neves revealed passengers should expect "a totally different airline" within the next two to three years. Neves said Etihad will begin retrofitting and revamping "dated" Boeing 777 planes from 2026 onward, this is due to what he described as "the constraints that we have in the global aviation market.
A U.S. Senate panel investigating Boeing's safety culture on Wednesday faulted the planemaker's quality practices and oversight by the Federal Aviation Administration citing documents obtained in an ongoing investigation.
The head of the Federal Aviation Administration will tell a U.S. Senate panel on Wednesday that the agency will remain engaged with the Justice Department on oversight of Boeing.
Boeing said on Tuesday it has offered additional time and support to the union representing thousands of its striking workers in the U.S. West Coast to vote on its new labor offer, after an earlier Friday deadline was rejected.
Aerospace company Boeing Co (NYSE) has endured a tumultuous 2024, grappling with airplane safety concerns, astronauts stranded in space, and serious contract disputes with union workers.
Apart from a poor 2Q24 performance, obstacles continue to plague Boeing; ongoing worker strikes are likely to affect its operations and liquidity. Despite these, recent developments such as the change in the CEO and the acquisition of SPR indicate that the company is proactively addressing safety and quality issues. Core drivers such as passenger traffic growth, industry's capacity struggles, and a surge in defense spending will continue to support demand for Boeing's products and services.
It may seem surprising that spreads on Boeing bonds have tightened since the strike started, even as investors have been sellers, especially of longer-dated notes, on strong volumes.
CNBC's Phil LeBeau reports on news from Boeing.
Boeing's (BA) striking union workers pushed back against the company's latest contract offer Monday, saying Boeing "missed the mark" with its latest proposal.
The head of the Federal Aviation Administration told a U.S. House subcommittee Tuesday that safety culture improvements at Boeing may take three to five years to complete.
Boeing has told major customer Ryanair that production is likely to be disrupted for two to three weeks after the end of the current strike, Ryanair Group Chief Executive Michael O'Leary said on Tuesday.
Boeing and unionized workers remain at an impasse after 10 days of striking. The IAM criticized Boeing for direct-dealing tactics with its latest proposal.