Latest news with #787-10
CNBC
13-05-2025
- Business
- CNBC
Boeing deliveries nearly double in April
Boeing said on Tuesday it delivered 45 commercial jets in April, nearly twice the 24 airplanes it delivered during the same month a year ago. Aircraft deliveries are closely tracked by Wall Street because planemakers collect the majority of their payment when they hand over jets to customers. Years of crises and production problems have left Boeing heavily saddled with debt, and it needs to increase deliveries to bring in more cash. The April deliveries included two for Chinese airlines before Beijing directed airlines to stop taking delivery of Boeing airplanes amid a trade war between China and the United States. The company delivered four more jets last month than the 41 it delivered in March. It delivered a 777 freighter to CES Leasing Corp., which is owned by China Eastern Airlines' parent company, and a 737 MAX to China Southern. When U.S. President Donald Trump announced stiff tariffs against China in April, four 737 MAX aircraft were at Boeing's finishing center in Zhoushan, China, where it installs interiors, paints on liveries and does other work before delivering the aircraft. After China stopped taking deliveries, the planes flew back to Seattle. They are currently parked in Moses Lake in central Washington State. Boeing CEO Kelly Ortberg said during the company's quarterly earnings call last month that it had planned to deliver about 50 aircraft to customers this year in China. Orders from Chinese carriers represent about 10% of the planemaker's commercial backlog. Boeing delivered 29 737 MAX planes, including eight for United Airlines, five for Ryanair and five for Southwest Airlines. The company also delivered eight 787s, four 777 freighters and three 767s. April was the fourth consecutive month in which Boeing delivered more than 40 jets. The company has focused on stabilizing the production rate of its bestselling 737 MAX, which was hamstrung by quality problems in 2024. Through the first four months of the year, Boeing has delivered 175 aircraft, including 133 737 MAX, 21 787s and 11 777 freighters. Boeing also booked eight gross new orders last month, one more than it recorded in April 2024. All orders were for 737 MAX jetliners by unidentified customers. It had no cancellations or conversions. Thirty-two orders placed earlier were added to the company's firm order book. They previously had not been included due to U.S. accounting rules. As of April 30, the planemaker has booked 249 gross orders and 212 net orders after cancellations and conversions. It had 6,282 unfilled orders, and its official backlog was 5,643 orders, after adjusting for accounting standards. The U.S. planemaker trailed its European rival Airbus, which delivered 56 jets and booked 11 new orders in April. Both have received substantial orders so far in May, including an order from IAG, which owns British Airways, for 32 Boeing 787-10 aircraft for British Airways, and 21 Airbus A330-900neo aircraft.
Epoch Times
09-05-2025
- Business
- Epoch Times
British Airways Owner to Order 53 Airbus and Boeing Long-Haul Planes
International Airlines Group (IAG), owner of British Airways and Aer Lingus, will place an order for 53 new Airbus and Boeing long-haul aircraft after reporting strong first-quarter results on Friday. The company said it will purchase 32 Boeing Co. 787-10 aircraft for British Airways and 21 Airbus SE A330neo planes, which may be assigned to IAG's airline brands including Aer Lingus, Iberia, and Level. They are set to be delivered between 2028 to 2033 and are in addition to the 18 planes it ordered in March. The aircraft are mainly for replacement, with around one third to be used for growth in IAG's core markets, the company said. It comes as IAG said its first-quarter 2025 revenue grew 9.6 percent to €7.04 billion, while operating profit increased by €130 million to €198 million, as strong revenue growth and lower fuel prices offset expected cost increases. Its operating margin also increased to 2.8 percent. Related Stories 5/8/2025 5/2/2025 IAG credited the strong results to 'good operational performance,' particularly at British Airways, while noting that Iberia and Vueling continue to be 'amongst the most punctual airlines in the world.' The British-Spanish company also credited 'robust' demand across its North Atlantic routes, which saw 27.8 percent of the total available seat kilometre (ASK) revenue in the first three months to March 2025. Demand was also strong in Europe (23.3 percent of the total ASK) and Latin America and the Caribbean (22.5 percent) it said. Spain and the UK were slightly more disappointing with just 8.4 percent of the total ASK. The results come as plane manufacturers have been battling with supply chain snags and other challenges that have delayed deliveries. However, IAG said its outlook for the full year remains unchanged, though it acknowledged 'geopolitical and macroeconomic uncertainty.' As of May 6, the company is around 80 percent booked for the second quarter, with revenue ahead of last year, and 29 percent booked for the second half, which it said is broadly in line with last year Luis Gallego, IAG chief executive officer, said the company's strong first quarter results 'reflect the performance of our businesses and the effectiveness of our strategy and transformation.' For now, the company remains focused on strengthening its brands across its markets of the North Atlantic, Latin America, and intra-Europe. 'We continue to see resilient demand for air travel across all our markets, particularly in the premium cabins and despite the macroeconomic uncertainty. 'Our commitment to financial strength and shareholder value is reflected in €530 million of share buybacks completed in 2025 so far, alongside a proposed final dividend of €288 million, which brings our total dividend for 2024 to €435 million,' Gallego said. The announcement comes as Boeing seeks to ramp up production of its best-selling 737 MAX jet to a rate of 38 per month this year, following a turbulent 2024 that saw the plane maker come under scrutiny due to safety issues. Separately on Thursday, Commerce Secretary Howard Lutnick
Yahoo
30-04-2025
- Business
- Yahoo
Boeing 787 Dreamliner soars past 1 billion passenger mark
CHARLESTON, S.C. (WCBD)—The North Charleston-produced Boeing 787 Dreamliner just hit a major milestone, eclipsing one billion passengers in less than 14 years of service. Boeing's South Carolina facility in North Charleston has been producing the widebody passenger plane for over a decade, becoming the sole producer in 2021. The site is home to the whole production cycle, which fabricates, assembles, and delivers the 787-8, 787-9, and 787-10 to customers globally. The Dreamliner fleet, which carries about 480,000 passengers daily, reached the one billion mark after nearly 5 million flights and 30 million flight hours. In December, Boeing announced they were expanding South Carolina operations at its Charleston County campus with a $1 billion investment in infrastructure upgrades. Officials say the 787 Dreamliner program plans to increase to a rate of 10 airplanes per month by 2026. According to Boeing, the 787 family is 25% more fuel efficient than the airplanes it replaces, thanks mainly to new engines, expanded use of lightweight composite materials, more efficient systems applications, and modern aerodynamics. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
24-03-2025
- Business
- Yahoo
GE Aerospace and Boeing Seal Billion-Dollar Deal with Korean Air
March 24 - South Korea's Korean Air sealed major fleet upgrades on Friday, finalizing deals with Boeing (BA, Financial) and GE Aerospace (GE, Financial) to enhance its aircraft and engine lineup. Warning! GuruFocus has detected 7 Warning Sign with GE. The carrier will purchase 50 new planes worth $24.9 billion by 2033, comprising 20 units each of the 777-9 and 787-10 models. South Korea's trade ministry provided these details on March 21, emphasizing the strategic fleet expansion aimed at boosting capacity and efficiency. In addition, Korean Air secured a $7.8 billion contract with GE Aerospace for eight jet engines and maintenance support. The deal finalizes a procurement initiative first revealed in July, reinforcing the airline's commitment to modernizing its operational capabilities. Korean Air's new aircraft, "The Livery", unveiled earlier this month, has helped it to refresh its image after its merger with Asiana. The carrier became Asia's second largest by capacity. On the criticism that the deals were (a bid for) tariff scratching, government officials pointed out the role they had in raising ties with the United States. This article first appeared on GuruFocus. Sign in to access your portfolio
Reuters
21-03-2025
- Business
- Reuters
Korean Air to finalise Boeing plane order soon, highlighting US-S.Korea ties
SEOUL, March 21 (Reuters) - Korean Air ( opens new tab will soon finalise a $32.7 billion deal for new Boeing (BA.N), opens new tab aircraft and GE Aerospace (GE.N), opens new tab engines, South Korea's industry ministry said during a visit to the United States to strengthen bilateral relations. Korean Air last year said it would order 20 777-9 and 20 787-10 planes from Boeing, with options for an additional 10 aircraft, and signed a memorandum of understanding in July. If finalised, the plane deal would be worth $24.9 billion. An order for eight spare GE engines, with options for two more, and engine maintenance services would be worth $7.8 billion, South Korea's industry ministry said in a statement. South Korea's Industry Minister Ahn Duk-geun is visiting Washington, D.C. for the second time in a month, as concerns mount around the world over U.S. President Donald Trump's plan to impose tariffs on multiple trading partners and sectors. Ahn said the deals would pave the way for further exchanges between the two countries and that the South Korean government would actively support private sector cooperation. A signing ceremony signalling an intent to strengthen aerospace partnerships was attended by Ahn, U.S. Secretary of Commerce Howard Lutnick and executives from Korean Air, Boeing and GE Aerospace. "This event marks the first joint participation of Ministers from Korea and the United States under President Trump's second administration, raising expectations for further cooperation between the two countries in various areas including aviation, semiconductors, shipbuilding and energy," South Korea's industry ministry said. Korean Air in December completed a $1.3 billion acquisition of two-thirds of the country's second-largest carrier Asiana Airlines, which will make it one of Asia's biggest carriers. It launched a new plane livery and corporate identity last week. Malaysia Aviation Group, the parent company of Malaysia Airlines, said on Friday it would buy 30 new Boeing 737 aircraft for 2029 delivery, while Japan Airlines said on Wednesday it planned to buy 17 more Boeing 737-8 aircraft.
