logo
Boeing chief cancels Paris air show trip after Air India crash

Boeing chief cancels Paris air show trip after Air India crash

Al Etihad19 hours ago

13 June 2025 14:54
Paris (AFP)Boeing chief executive Kelly Ortberg has cancelled his trip to next week's Paris Air Show, a major aviation industry event, to focus on the investigation into the Air India Dreamliner crash.The crash has put the spotlight back on Boeing, which had been making progress under new leadership following concerns over safety and quality of planes made by the US aircraft maker.The London-bound Air India flight ploughed into a residential area of India's Ahmedabad city shortly after takeoff on Thursday, killing at least 265 people on board and on the ground.It was the first crash of a 787 Dreamliner, Boeing's flagship long-distance aircraft."Our deepest condolences go out to the loved ones of everyone onboard Air India Flight 171 and all those affected in western India," Ortberg said in a message to employees obtained by AFP on Friday.He said he and executive vice president Stephanie Pope had been in contact with Air India's leadership "to offer our full support".Ortberg added that he had spoken with the chair of the US National Transportation Safety Board, Jennifer Homendy, and "committed to her our full support to the investigative process".Boeing is also supporting the probe by India's Aircraft Accident Investigation Bureau, which is leading the probe, he said."Safety is foundational to our industry and is at the core of everything that we do. Our technical experts are prepared to assist investigators to understand the circumstances, and a Boeing team stands ready to travel to India," he said.The Paris Air Show at Le Bourget Airport opens on Monday.
"As our industry prepares to start the Paris Air Show, Stephanie and I have both cancelled plans to attend so we can be with our team, and focus on our customer and the investigation," Ortberg said.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Crypto has killed the weekend: Hedge funds quietly scramble to adapt
Crypto has killed the weekend: Hedge funds quietly scramble to adapt

Crypto Insight

time14 hours ago

  • Crypto Insight

Crypto has killed the weekend: Hedge funds quietly scramble to adapt

The always-on crypto market is reshaping global finance, pushing hedge funds and trading firms to look beyond traditional hours and staff desks through the weekend. Qube Research & Technologies, a global quantitative investment management firm headquartered in London, is hiring for a 'Crypto | Quant Trader (Weekend Shift)' role in London, which requires weekend availability in addition to a four-day workweek. The role, which includes overseeing continuous crypto trading, monitoring strategy performance and risks and implementing signals and data sets, requires working every other weekend and a normal day shift four days per week. Unlike traditional financial markets that operate on fixed schedules and close on weekends, the crypto market runs 24/7. There are no closing bells, holidays or after-hours sessions, and price movements can happen at any time, even during weekends. TradFi firms hire for weekend crypto roles Other traditional finance firms are also expanding crypto hiring to cover weekends. American high-frequency trading company Virtu Financial is seeking a weekend trader in Singapore to cover digital asset activity outside of weekday trading windows. Jump Trading's crypto division was looking to hire a weekend trader in Chicago. The position is currently not available, suggesting the company might have found the right candidate. The rise in weekend crypto roles comes as major hedge funds and trading firms are building crypto teams and infrastructure to operate around the clock. Brevan Howard's dedicated crypto unit, BH Digital, now boasts dozens of staff, including over 15 portfolio managers, more than 10 data scientists/traders and 20 external engineers supporting its strategies. Steve Cohen's hedge fund, Point72, is similarly expanding. Its Cubist quant division is hiring a crypto-focused quantitative developer in Paris. In a March report, CoinShares revealed that seven of the top 10 largest holders of Bitcoin ETF shares are now hedge funds. 'Hedge funds alone now account for 41% of all 13-F Bitcoin ETF holdings, surpassing investment advisers for the first time,' the firm wrote. Crypto remains volatile on weekends Crypto continues to show volatility during weekends. In April, crypto prices tumbled after a Friday tariff announcement by US President Donald Trump. The decline continued over the weekend, which saw Bitcoin drop 7%, to $77,000 from $83,000. Crypto markets can also turn extremely volatile during weekends if hacks or breaches occur. With thinner liquidity and limited staffing, exploits timed for late Friday or Saturday can trigger rapid sell-offs, leading to sharp price drops. While hedge funds are only now hiring for weekend roles, crypto traders have long operated without breaks. 'Weekends are for working. Free time? No such thing, work time. Save your free time for the bear. For now, we grind,' altcoin trader Altcoin Gordon wrote on X. Source:

Boeing CEO cancels air show appearance visit as India crash
Boeing CEO cancels air show appearance visit as India crash

Zawya

time16 hours ago

  • Zawya

Boeing CEO cancels air show appearance visit as India crash

Boeing and GE Aerospace are scaling back their public activities following the fatal crash of an Air India jetliner, with the planemaker's CEO canceling his trip to the Paris Airshow next week and GE postponing an investor day. More than 240 people were killed when an Air India Boeing 787 jet bound for London crashed moments after taking off from the city of Ahmedabad on Thursday, authorities said, in the world's worst aviation disaster in a decade. Boeing CEO Kelly Ortberg said in a message to staff on Thursday evening that he and Boeing Commercial Airplanes boss Stephanie Pope had canceled plans to attend the Paris Airshow "so we can be with our team and focus on our customer and the investigation." The air show, which runs from June 16 to June 20 at Le Bourget, is the global aviation industry's largest trade show, where many aircraft orders are typically placed by airlines. Ortberg had been due to attend for the first time as Boeing CEO since being appointed to lead the company out of a series of back-to-back safety, industrial and corporate crises. Aircraft engine maker GE Aerospace, whose engines were in the Boeing 787 plane, had planned an investor day on June 17 coinciding with the show. GE said the briefing had been canceled and it would put a team together to go to India and analyze data from the crashed airplane. "GE Aerospace's senior leadership is focused on supporting our customers and the investigation," the company said. It said it planned to give a financial update later this month. Safety experts stressed it was too early to speculate why one of the world's most modern airliners should crash shortly after take-off. Accidents in that phase of flight are rare, said Paul Hayes, safety director at UK consultancy Cirium Ascend. Most accidents are caused by a cocktail of factors. Under global aviation rules, India will lead the probe with support from NTSB investigators in the United States, who will in turn liaise with Boeing and GE on technical matters. The reduced attendance plans came as delegates said the crash had cast a somber mood over the air show, putting in doubt several order announcements and putting safety back in the spotlight alongside concerns over U.S. tariffs. The world's largest aviation trade expo, running from June 16 to 20 in Le Bourget , usually gives aircraft and arms manufacturers a key stage to showcase deals and sets the tone for a global supply chain already under pressure from shortages. FEWER DEALS Boeing has cancelled some events and is unlikely to make any commercial order announcements at the show, though it will press ahead with low-key briefings on other topics, delegates said. One key expected announcement had been a potential order for dozens of Boeing jets including the 787 from Royal Air Maroc. But the airline plans no announcement at the show and this will also affect Airbus which had been expected to win sell it some 20 A220s, industry sources said. None of the companies had any comment on specific deals. Airbus CEO Guillaume Faury on Friday expressed condolences over the accident and the world's largest planemaker was expected to observe a muted tone surrounding what had been expected to be a busy week for orders to meet high demand. One delegate said business would continue but with fewer of the high-profile press conferences and in-person announcements associated with the industry's biggest commercial showcase. Another said some order announcements could be delayed until later in the year as a mark of respect for victims. "The show will be a lot more sombre, less celebratory," said a delegate involved in planning one such announcement, speaking anonymously because the plans have not been publicly revealed. "The show will go ahead as planned, but it will be more subdued and with less cheerleading," the delegate said. (Allison Lampert in Montreal and David Shepardson in Washington, Tim Hepher in Paris; Editing by Leslie Adler, Jamie Freed and Nick Zieminski)

Boeing shares sink, dollar dives on Trump's new trade threat
Boeing shares sink, dollar dives on Trump's new trade threat

Gulf Today

time17 hours ago

  • Gulf Today

Boeing shares sink, dollar dives on Trump's new trade threat

Wall Street stocks dipped early Thursday after fresh trade war rhetoric from President Donald Trump, while Boeing shares tumbled following a brutal Air India crash on a 787 jet. Just hours after Trump reached a new detente with China on trade tensions, the president threatened to 'send letters out' with an ultimatum to other trading partners. Meanwhile, Boeing shares shed about five percent after a London-bound 787 Dreamliner crashed in western India, likely killing all 242 people on board. About 25 minutes into trading, the Dow Jones Industrial Average was down 0.4 percent at 42,705.52. The broad-based S&P 500 slipped 0.1 percent to 6,018.24, while the tech-rich Nasdaq Composite Index also declined 0.1 percent to 19,595.85. Data showed that wholesale prices rose 0.1 percent last month, a modest uptick as analysts continue to caution that Trump's tariffs could lift inflation in the coming months. Among other stocks, Oracle surged 12.1 percent following an upbeat earnings report. The software giant scored eight percent revenue growth in the last year but predicted the coming year would be 'even better.' The dollar plunged on Thursday after US President Donald Trump threatened higher unilateral tariffs on trade partners, and oil see-sawed as traders evaluated the probability behind reports that Israel could be gearing up to strike Iran. Stock traded mixed as investors navigated the double whammy of returning trade uncertainty and geopolitical volatility, while Boeing's share price slumped sharply in the wake of a deadly 787 Dreamliner crash in India. In New York, the broad S&P 500 index reversed early losses to trade slightly up, but the blue-chip Dow struggled in the red. All European stock markets finished lower, except London, which posted an uptick despite official data showing the UK economy shrank more than expected in April. The dollar was down against the euro, and at one point fell by more than one percent to its lowest point in three years against the European single currency. 'Trump has done it again. The US president has rattled markets with fresh threats of unilateral tariff rates on several trading partners,' said Fawad Razaqzada, market analyst at 'Investors are now asking questions... and that's before considering other risks that include valuations, bond market troubles, and a potential military conflict between Iran and Israel,' he said. Trump on Wednesday said he would be sending letters within the next two weeks to other countries' governments to announce unilateral US levies on their exports to America. 'This is the deal, you can take it or leave it,' Trump told reporters. The return to trade belligerence eclipsed any optimism that had emerged from a putative agreement between the United States and China on Tuesday to modestly de-escalate trade tensions. It also left the European Union staring down the barrel of 50-percent tariffs -- at least -- when a pause on them ends on July 9, without any sign so far of Brussels and Washington close to reaching a trade agreement. The EU has reportedly drawn up plans to slap 100 billion euros ($116 billion) of additional tariffs on US goods if the US levies go ahead. But 'the indices that seem most exposed to tariffs are China, Mexico, the UK, and those of commodity exporters like South Africa, Saudi Arabia, Australia, and especially Canada,' said Capital Economics analyst Giulia Bellicoso. Markets were also following reports that Israel was poised to launch airstrikes on Iran -- along with Trump saying he was now 'less confident' that talks with Tehran would end up with it rolling back its nuclear programme. Oil prices, which had initially jumped on Wednesday on the heightened tensions, flipped direction for much Thursday as investors and analysts weighed reports of imminent Israeli strikes. Towards the end of the trading session they were close to where they ended on Wednesday. 'A solo Israeli strike on Iran's nuclear program without US acknowledgement or support is highly unlikely' and carried a 'considerable' risk of miscalculation, said analysts at Eurasia Group, although they did say the UN nuclear agency's censure 'adds to (the) escalatory environment'. In the end, the 'threat of an Israeli attack gives the US more leverage during talks,' they surmised. The next round of US-Iran talks is scheduled for Sunday. In New York share trading, Boeing dropped more than five percent after a London-bound Air India plane -- a Boeing 787 -- carrying 242 people had crashed in Ahmedabad. The US planemaker declared itself ready to support Air India following the crash, the first involving a 787 Dreamliner. Agencies

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store