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Nov. 23, 2015, 3:21 PM
- Delta Air Lines (DAL -0.2%) will keep 14 of its aging Boeing (BA -0.7%) 757 jets that were to be retired in two years, partly because pilots rejected a proposed contract that would have added new aircraft.
- DAL’s 757s are among its oldest narrow-body jets, averaging 20.4 years old, and had been due for replacement by the new Boeing 737-900ERs in the now-canceled plane order; the airline had tied the purchase to ratification of the labor accord.
- DAL says it eventually will replace some of the flying done by its 757s with new 737-900ERs already on order from Boeing, although it will not be on a one-for-one basis
Nov. 19, 2015, 5:30 PM
- Boeing (NYSE:BA) says it booked two more orders for its 747-8 jumbo jet, but it is not quite what it seems, as Dow Jones reports it is actually leasing the planes from its finance arm to a Russian cargo airline.
- The Russian group said in June it could acquire up to 20 of the planes in a move that promised to provide a big boost for a program that has just 22 outstanding orders for the freighter and passenger versions; aircraft financiers now say Boeing faces the challenge of placing the unsold planes and potentially renting or financing additional deals.
- Boeing has delivered 100 747-8s, but has just eight firm orders for the cargo version and 14 for the passenger model.
Nov. 19, 2015, 4:20 PM
- United Launch Alliance -- the joint venture of Boeing (BA +0.7%) and Lockheed Martin (LMT +0.4%) -- is jumping into a big market for small hardware by planning mini-satellite launches.
- The smaller satellites, known as CubeSats, are 110 pounds or smaller and their units drop down to about 4-inch cubes of three pounds, which can be assembled to form larger craft. The JV plans to start flying a specially made carrier with berths for 24 craft on Atlas 5 rockets by mid-2017.
- Some 92 of the CubeSats were launched in 2013; SpaceWorks Enterprises estimates that 410-543 of them will need launches in 2020. Companies including Google's SkyBox Imaging are developing networks of the tiny satellites.
- ULA says it will charge about $100K to launch one unit.
Nov. 17, 2015, 12:57 PM
- Rising interest rates have historically been good news for Boeing (BA +1.1%) and other aerospace and defense companies, Canaccord analysts say, as strengthening commercial orders correspond with outperformance by both Boeing stock and the broader sector.
- Commercial transport orders over the past three significant tightening cycles rose by an average of 7% and 140% in the 12- and 24-month time periods after rates started to increase, and total commercial backlog increased over the same periods by an average of 3% and 43%, the firm says.
- BA stock has outperformed the broader market over the past two tightening cycles by an average of 19%-20% annually while rates are rising, Canaccord adds.
- Also today: LMT +1.8%, RTN +1.6%, COL +1.3%, NOC -0.3%.
Nov. 16, 2015, 6:15 PM
- The United Launch Alliance joint venture of Boeing (NYSE:BA) and Lockheed Martin (NYSE:LMT) says it is pulling out of the U.S. Air Force’s first space launch competition in a decade because it cannot buy enough Russian-made engines.
- The decision leaves SpaceX as the sole entrant as bids close for the launch of a new satellite for the Air Force-run GPS in 2016, the first of nine the Pentagon wants for competitive bidding after relying on deals with ULA to send sensitive military and intelligence equipment into orbit.
- A final contract award is expected next March unless ULA supporters in Congress manage to postpone a deal until there is more than one bidder.
- Earlier: SpaceX bashes ULA bid for Russian engine waiver (Oct. 9)
Nov. 16, 2015, 5:49 PM
- Boeing (NYSE:BA) projects the Latin American commercial aviation market will grow at one of the highest rates in the world over the next 20 years, and sees the region's airlines needing more than 3K new airplanes valued at $350B.
- Latin America’s passenger traffic is growing at 6%/year, compared to 4% for the world, and Boeing forecasts the region's fleet would need to more than double to accommodate the growth.
- Since most of the projected growth would come in regional travel, single-aisle airplanes such as Boeing’s 737 and Airbus’ (OTCPK:EADSF, OTCPK:EADSY) A320 would make up 83% of the new airplane demand, according to Boeing’s forecast.
Nov. 16, 2015, 10:33 AM
- Aerospace and defense shares are on the rise after calls to increase efforts to crush ISIS, the terrorist group responsible for Friday's attacks in France.
- Previously: World leaders wrap up G20 summit (Nov. 16 2015)
- Previously: French warplanes strike Islamic State targets in Syria (Nov. 15 2015)
- Related tickers: General Dynamics (GD +0.6%), Boeing (BA +0.2%), Northrop Grumman (NOC +3.2%), Lockheed Martin (LMT +2.5%), Raytheon (RTN +2.4%), Orbital ATK (OA +3.8%), Rolls-Royce (OTCPK:RYCEY +2.2%), Huntington Ingalls (HII +1.1%), Honeywell (HON +0.9%), United Technologies (UTX +0.4%), Airbus (OTCPK:EADSF), ITT (ITT +0.6%), Textron (TXT +1.7%), L-3 Communications (LLL +2.3%), BAE Systems (OTCPK:BAESY +2%), Finmeccanica (OTCPK:FINMY), Rockwell Collins (COL +1.7%).
Nov. 16, 2015, 10:18 AM
- The U.S. State Department has approved the sale of thousands of smart bombs worth a total of $1.3B to Saudi Arabia to help replenish supplies used in its battle against insurgents in Yemen and airstrikes against Islamic State in Syria.
- The proposed sale includes as many as 13,000 Paveway II, BLU-117 and other smart bombs made by Boeing (BA +0.5%), Raytheon (RTN +2.5%) and Lockheed MArtin (LMT +2.6%).
- Lawmakers now have 30 days to block the sale, although such action is rare since deals are carefully vetted before any formal notification.
Nov. 16, 2015, 8:06 AM
- According to a forecast by Honeywell, sales of business jets are expected to slow next year, falling by less than 10%, as weakening economies and simmering political tensions delay corporate purchases.
- Honeywell also trimmed its 10-year outlook, saying the global market will need 9,200 business jets worth $270B over the next decade, down from the 9,450 jets worth $280B it forecast last year.
- Related tickers: OTCPK:EADSY, BA, OTCQX:BDRAF, OTCQX:BDRBF, OTC:DUAVF, ERJ
Nov. 12, 2015, 2:26 PM
- Boeing (BA -1.5%) and Airbus (OTCPK:EADSY -3.3%) are sharply lower following engine supplier Rolls-Royce's (OTCPK:RYCEY -19.8%) warning of a weaker than expected 2015 earnings outlook and sharply weaker demand in 2016.
- Rolls-Royce, which makes engines for Boeing’s 787 Dreamliners and Airbus A380 superjumbos, says it expects sharply lower volumes of corporate jets powered by its engines next year, and that its aftermarket service segment had begun to suffer as customers use older, wide-body engines less and shift to more fuel-efficient planes.
- Rolls-Royce's gloomier outlook also comes as engines made by GE (GE -1.4%) and Pratt & Whitney (UTX +1.1%) for the Airbus A330 reportedly have driven down prices for its Trent 700 engines.
Nov. 11, 2015, 12:59 PM
- "This is the slowest show I have seen in 10 years," said one airline executive at this week’s Dubai air show, which Financial Times says was marked by such a stark absence of orders that some industry executives were tempted to pack up and go home.
- By the end of the show, the only commercial order of any note is likely to be from Vietnam’s VietJet, which signed a contract with Airbus (OTCPK:EADSF, OTCPK:EADSY) for 30 narrow-body A321 aircraft worth $8B.
- Boeing (NYSE:BA) tried to disguise its lack of business by revealing the identity of the customer - India’s Jet Airways - behind a previously agreed deal for 75 narrow-body 737 aircraft, also valued at $8B.
- "The question now for Airbus, Boeing and their investors is whether the torrent of commercial deals that has fed record order books has finally dried up in the Dubai heat," FT's Peggy Hollinger writes.
- Earlier: Order drought ends at Dubai Air Show (Nov. 9)
- Earlier: Jet orders grounded at the Dubai Air Show (Nov. 9)
Nov. 11, 2015, 9:01 AM
- Boeing (NYSE:BA) has reaffirmed its earlier expectation of rolling out its first 737 MAX before the end of this year, flying it in early 2016 and delivering it to customers on time beginning in Q3 of 2017.
- The company is also dropping GKN (OTCPK:GKNLY) as a supplier for one component on its 737 MAX jetliner and is in negotiations with a new supplier.
Nov. 10, 2015, 3:23 AM
- U.S. Air Force Secretary Deborah James is defending the process used to select Northrop Grumman (NYSE:NOC) to build the next-generation Long Range Strike Bomber, stating it was "very deliberate" and included a number of independent reviews.
- James said the Air Force stood by its decision, but would wait to see how the U.S. Government Accountability Office ruled on a formal protest filed by Boeing (NYSE:BA) and Lockheed Martin (NYSE:LMT). A ruling is due by mid-December.
- Previously: Boeing protests bomber award (Nov. 06 2015)
Nov. 9, 2015, 2:35 PM
- Boeing (BA -1.3%) remains determined to expand its defense business following the "minor setback" of losing an $80B U.S. bomber contract last month, Tom Bell, senior VP of global sales and marketing for Boeing's defense business, tells Reuters at the Dubai Air Show.
- Boeing had hoped to win the contract since its F/A-18E/F and F-15 fighter lines are nearing the end of production, but Bell says the company sees "plenty of opportunity" to continue winning new contracts and develop the weapons it already builds further in the coming years.
- Bell says Boeing's decision, along with partner Lockheed Martin, to protest the decision to award the project to Northrop Grumman was "difficult," but says he will offer no further comment until the U.S. Government Accountability Office rules on the matter by Feb. 16, 2016.
Nov. 9, 2015, 7:47 AM
- Boeing: Jet Airways placed an order for seventy five 737 max aircraft, estimated to be worth around $8.2B. Boeing is also entering a JV partnership with Tata Advanced Systems to build fuselages for the AH-64 Apache attack helicopter in India.
- Airbus: IAG firmed up orders for 19 additional widebody and single aisle aircraft. Airbus is also studying whether there is demand for a larger member of its A350 jet family and expects to make up its mind within a couple of months.
- GE Aviation: Emirates signed a $16B agreement for maintenance and repair of GE9X engines to power its fleet of 150 Boeing 777X aircraft over 12 years.
- Lockheed Martin: The U.S. Air Force awarded the company a $262.8M contract to service Saudi Arabia's F-15 sniper targeting system.
- Saab: The UAE announced a $1.3B deal for upgraded surveillance systems aboard its new Bombardier planes.
- Embraer: Lebanon confirmed the acquisition of six A-29 Super Tucano turboprop aircraft.
- The Dubai Air Show runs until Thursday, November 12.
- Previously: Jet orders grounded at the Dubai Air Show (Nov. 09 2015)
Nov. 9, 2015, 3:16 AM
- The Dubai Air Show kicked off Sunday without the usual flurry of deals, sparking some concern over the longer-term health of the industry.
- Two years ago, the first day of the event saw $162B in jetliner orders as Boeing (NYSE:BA) secured deals for its new 777X and Airbus (OTCPK:EADSY) received a blockbuster order for 50 A380 superjumbos, but no deals were announced on the opening day of this year's gathering.
- Concerns about the resilience of aircraft sales increased last month when Delta CEO Richard Anderson warned of an oversupply of jets, but planemakers dispute that gloomy outlook.
Boeing Co, together with its subsidiaries designs, develops, manufactures, sells and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems and services.
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