Latest news with #AllisonLampert
Yahoo
28-05-2025
- Business
- Yahoo
GE Aerospace CEO sees supply chain improvements, despite tariff hit
(Reuters) -GE Aerospace's CEO said on Wednesday he is seeing supply chain improvements that will support a 15% to 20% increase in deliveries this year of jet engines used on popular narrowbody aircraft, after snags challenged deliveries in 2024. CEO Larry Culp also told the Bernstein Strategic Decisions conference that the engine maker pledged to be 'completely in sync' with customer Boeing, as the U.S. planemaker gradually grows production of its strong-selling 737 MAX to a monthly rate of 38 and possibly above this year. GE Aerospace, however, is still expecting a hit of more than $500 million from tariffs due to a U.S.-led trade war. (Reporting By Allison Lampert and Shivansh Tiwary) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19-05-2025
- Business
- Yahoo
Striking Pratt engine workers to resume talks with RTX on Thursday
By Allison Lampert, Dan Catchpole (Reuters) -RTX and the union representing around 3,000 striking U.S. Pratt & Whitney workers are resuming talks on Thursday as the stoppage continues in its third week, spokespeople for both the company and union said on Monday. The International Association of Machinists and Aerospace Workers said the workers are on strike for improved job security and higher pay. The first strike in more than 20 years at the enginemaker's Connecticut sites comes as the aerospace supply chain is already struggling to meet global demand for new airliners, while facing uncertainty over U.S. tariffs on imported aircraft parts. Pratt produces about 70% of the company's geared turbofan engine in Connecticut, where the strike is affecting two sites. The GTF is used in European planemaker Airbus' strong-selling A320 neo family, along with engines for the F-35 fighter jet. Pratt has brought in engineers as part of its contingency plan to produce parts and avert delays, two sources told Reuters. Pratt is sourcing engineers who can operate machinery as part of the plan, said one of the sources. A second source said he knows of engineers who have been reassigned to the plants, putting some engineering projects on hold. Both of the sources discussed Pratt's internal labor strategy on condition of anonymity. RTX and the IAM declined comment on the use of engineers. A letter from Pratt to workers seen by Reuters asked employees to complete a skills assessment by last Friday. It called for workers with specialized manufacturing skills, along with general factory and business process support. "We rely on the talents of our entire workforce to meet our customer commitments," it said. It's not clear that Pratt can keep all production moving or at what pace while using engineers in lieu of factory workers. An Airbus spokesperson said the company continues to monitor the situation and is in contact with RTX. Pratt and customers are still grappling with a manufacturing flaw discovered in 2023 that has grounded hundreds of aircraft while mechanics conduct months-long inspections. While some carriers like JetBlue have said they are seeing improvements with Pratt in recent months, roughly one-third of airplanes with GTF engines were out of service as of May 9, according to Barclays. Analysts warn that a lengthy strike would further strain production. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
16-05-2025
- General
- Globe and Mail
Boeing nears deal to avoid guilty plea, prosecution in 737 Max crashes case, sources say
, David Shepardson, Allison Lampert and Chris Prentice New york and washington Reuters to view this content.
Yahoo
09-05-2025
- Business
- Yahoo
US Pratt engine strikers press for jobs commitment, union says
By Allison Lampert and Dan Catchpole (Reuters) -A nearly week-long strike by around 3,000 U.S. Pratt & Whitney workers to keep jet engine work in Connecticut is the latest source of uncertainty in an aerospace supply chain already struggling to meet global demand for new airliners. Jeff Santini, lead negotiator for the workers, told Reuters on Friday that the stoppage largely hinges on securing a commitment to keep certain Pratt work for Lockheed Martin's F-35 fighters in the U.S. state. "Job security is number one right now," Santini told Reuters, after joining federal lawmakers from Connecticut and workers on a picket line. On Sunday, members of the International Association of Machinists and Aerospace Workers (IAM) rejected the company's latest offer. In addition to the F-35, one of the most widely used fighters in the world, the RTX subsidiary also makes geared turbofan (GTF) engines for European planemaker Airbus' best-selling A320 family of jets. Analysts warn that a lengthy strike would further strain production. Pratt has struggled with output problems in recent years and is searching for potentially flawed components in its GTF engines that have grounded hundreds of planes in recent months. RTX has said the two sites in Connecticut remain open despite the strike and the company has a contingency plan, without elaborating. Pratt is telling suppliers to continue shipping parts as usual, one of them said. RTX said on Friday it is committed to Connecticut after investing more than $550 million in the state since 2019. RTX said it offered to raise wages by 10.5% over three years, with additional cost of living and job progression increases and a $5,000 signing bonus. Santini said the wage increase fails to keep up with inflation, but he has not made the union's demands public. The strike's duration is up to Pratt, IAM International President Brian Bryant said. "They are the ones who can very easily get back to the table." "It's too early to tell if the strike will impact us," an Airbus spokesperson said by email, adding it is in close contact with Pratt and RTX. Lockheed Martin declined to comment on Pratt work for the F-35, which is produced at a rate of 156 fighters a year. AeroDynamic Advisory Managing Director Richard Aboulafia said fallout might be limited with a short strike. "If management is smart, the strike lasts a few days," Aboulafia added. "If not, it lasts for months." Sign in to access your portfolio
Yahoo
09-05-2025
- Business
- Yahoo
US Pratt engine strikers press for jobs commitment, union says
By Allison Lampert and Dan Catchpole (Reuters) -A nearly week-long strike by around 3,000 U.S. Pratt & Whitney workers to keep jet engine work in Connecticut is the latest source of uncertainty in an aerospace supply chain already struggling to meet global demand for new airliners. Jeff Santini, lead negotiator for the workers, told Reuters on Friday that the stoppage largely hinges on securing a commitment to keep certain Pratt work for Lockheed Martin's F-35 fighters in the U.S. state. "Job security is number one right now," Santini told Reuters, after joining federal lawmakers from Connecticut and workers on a picket line. On Sunday, members of the International Association of Machinists and Aerospace Workers (IAM) rejected the company's latest offer. In addition to the F-35, one of the most widely used fighters in the world, the RTX subsidiary also makes geared turbofan (GTF) engines for European planemaker Airbus' best-selling A320 family of jets. Analysts warn that a lengthy strike would further strain production. Pratt has struggled with output problems in recent years and is searching for potentially flawed components in its GTF engines that have grounded hundreds of planes in recent months. RTX has said the two sites in Connecticut remain open despite the strike and the company has a contingency plan, without elaborating. Pratt is telling suppliers to continue shipping parts as usual, one of them said. RTX said on Friday it is committed to Connecticut after investing more than $550 million in the state since 2019. RTX said it offered to raise wages by 10.5% over three years, with additional cost of living and job progression increases and a $5,000 signing bonus. Santini said the wage increase fails to keep up with inflation, but he has not made the union's demands public. The strike's duration is up to Pratt, IAM International President Brian Bryant said. "They are the ones who can very easily get back to the table." "It's too early to tell if the strike will impact us," an Airbus spokesperson said by email, adding it is in close contact with Pratt and RTX. Lockheed Martin declined to comment on Pratt work for the F-35, which is produced at a rate of 156 fighters a year. AeroDynamic Advisory Managing Director Richard Aboulafia said fallout might be limited with a short strike. "If management is smart, the strike lasts a few days," Aboulafia added. "If not, it lasts for months."
