Latest news with #Boeing787-10
The Herald Scotland
16-05-2025
- Business
- The Herald Scotland
British Airways owner confidence in long-haul flights with big move
While the airline group noted these new aircraft are 'mainly for replacement', as it revealed the orders this morning, it added that around one-third are for 'growth in IAG's core markets'. IAG has today ordered 21 Airbus A330-900neo aircraft and 32 Boeing 787-10 planes for delivery from 2028 to 2033 for its 'medium-term long-haul fleet requirements'. In addition to this, it revealed today that it had exercised options for six Airbus A350-900 aircraft for Iberia, six Airbus A350-1000 planes for British Airways and six Boeing 777-9 aircraft for British Airways. IAG reported that it made operating profit before exceptional items of €198 million in the three months to March 'as strong revenue growth and a lower fuel price offset expected cost increases', up by €130 million from €68m in the first quarter of last year. Operating margin increased by 1.7 points to 2.8% Revenues in the first quarter were up by 9.6% on the same period of last year at €7.044 billion. IAG chief executive officer Luis Gallego seemed in upbeat form as he presented the results. He said: 'Our strong first-quarter results reflect the performance of our businesses and the effectiveness of our strategy and transformation. We continue to deliver on our industry-leading financial targets.' Mr Gallego added: 'We remain focused on strengthening our broad portfolio of market-leading brands across our core 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.' IAG revealed: 'Latin America and Europe continue to be strong and the North Atlantic demand has been robust, with strength in our premium cabin mitigating some recent softness in US point-of-sale economy leisure.' It declared that, as of May 6, it was 'around 80% booked for the second quarter, with revenue ahead of last year, and 29% booked for the second half, broadly in line with last year'. Aarin Chiekrie, equity analyst at stockbroker Hargreaves Lansdown, said: 'IAG has been delivering for both passengers and investors alike after landing a big profit beat in the first quarter. The group's market-leading networks, strong brands, and fierce operational focus continue to drive performance skyward. Profitability's also getting a helping hand from falling fuel costs.' He added: 'IAG shows no signs of slowing, and demand for its routes remains strong despite the current pressure on consumers' incomes. Tariffs had been weighing on sentiment towards the travel sector. But with 80% of flights for the second quarter already booked, the outlook is brighter than many expected. That's also given IAG the confidence to place orders for 53 new Airbus and Boeing aircraft, which will be delivered between 2028 and 2033, highlighting the group's confidence in the longer-term picture for the travel industry.'
Time of India
13-05-2025
- Business
- Time of India
Boeing deliveries nearly double in April
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel SEATTLE- Boeing said on Tuesday it delivered 45 commercial jets in April, nearly twice the 24 airplanes it delivered during the same month a year 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 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 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 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 the first four months of the year, Boeing has delivered 175 aircraft, including 133 737 MAX, 21 787s and 11 777 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 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.
Travel Daily News
12-05-2025
- Business
- Travel Daily News
Strong start to 2025 for IAG, outlook unchanged
IAG reports strong Q1 2025 results, maintains full-year outlook, and orders 53 widebody aircraft to enhance long-haul fleet efficiency. IAG announced 2025 first quarter results and the outloook for the whole year. Also, the Group is ordering 53 new Airbus and Boeing aircraft for its long-haul fleet, comprising 32 Boeing 787-10 aircraft for British Airways and 21 Airbus A330-900neo aircraft, which can be deployed within Aer Lingus, Iberia or LEVEL. Luis Gallego, IAG Chief Executive Officer, said: 'Our strong first quarter results reflect the performance of our businesses and the effectiveness of our strategy and transformation. We continue to deliver on our industry-leading financial targets. We remain focused on strengthening our broad portfolio of market-leading brands across our core 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 euros of share buybacks completed in 2025 so far, alongside a proposed final dividend of 288 million euros, which brings our total dividend for 2024 to 435 million euros.' Highlights Revenue growth of 9.6%, reflecting the strength of our business Operating profit before exceptional items increased by 130 million euros to 198 million euros as strong revenue growth and a lower fuel price offset expected cost increases. Operating margin increased by 1.7 pts to 2.8% Good operational performance, particularly at British Airways. Iberia and Vueling continue to be amongst the most punctual airlines in the world Ordered 71 widebody aircraft to support long-term strategy Stronger balance sheet driven by free cash flow and disciplined capital allocation: net leverage at 0.9x and gross debt reduced by 1,859 million euros compared to 31 December 2024 Delivering for our shareholders through a sustainable dividend and up to €1 billion share buyback Outlook for 2025 Trading Whilst being mindful of the geopolitical and macroeconomic uncertainty, our outlook for the full year is unchanged We are continuing to see good demand for air travel across our core markets and for our brands, highlighting the strength of our portfolio portfolio Latin America and Europe continue to be strong and the North Atlantic demand has been robust, with strength in our premium cabin mitigating some recent softness in US point-of-sale economy leisure As of 6 May we are around 80% booked for the second quarter, with revenue ahead of last year, and 29% booked for the secondhalf, broadly in line with last year Modelling assumptions Capacity increase of c.3% is unchanged. We continue to review our plans for the winter season and 2026 Non-fuel unit costs are assumed to increase by around 4% in 2025 including the adverse impact of foreign exchange, weighted to the first half of the year, as previously guided at our Full Year 2024 results Capital expenditure for the year is expected to be around €3.7 billion Total fuel cost is expected to be €7.5 billion (based on jet fuel forward curve and foreign exchange rates at the end of Q1) as the Group benefits from recent falls in the price of oil IAG orders 53 new Airbus and Boeing aircraft for its long-haul fleet International Airlines Group (IAG) is ordering 53 new Airbus and Boeing aircraft for its long-haul fleet, comprising 32 Boeing 787-10 aircraft for British Airways and 21 Airbus A330-900neo aircraft, which can be deployed within Aer Lingus, Iberia or LEVEL. Subject to shareholder approval at the IAG's Annual General Meeting in June, these new aircraft will enable IAG's airlines to grow and replace their long-haul fleets with modern, fuel-efficient planes. The aircraft will be delivered between 2028 and 2033. In addition, the order with Boeing grants British Airways the rights to elect to purchase up to 10 additional Boeing 787 aircraft and the order with Airbus grants IAG the rights to elect to purchase up to 13 additional Airbus A330-900neo aircraft. Of the proposed 53 aircraft, 35 would serve to replace existing aircraft or, in the case of LEVEL, replace short-term leases. As well as the replacements above, the new orders would also allow 18 aircraft for growth in IAG's core markets. The Airbus A330-900neo aircraft will be powered by Rolls-Royce engines. British Airways' Boeing 787-10 aircraft will be powered by General Electric engines. Both engine orders include comprehensive warranty and maintenance packages with Rolls-Royce and General Electric, respectively. These new orders follow orders already placed in March this year, and announced today, for six Airbus A350-900s for Iberia, as well as six Airbus A350-1000s and six Boeing 777-9s for British Airways. Luis Gallego, IAG's CEO, said: 'This order marks another milestone in our strategy and transformation programme and underlines our commitment to strengthening our airline brands and enhancing our customer proposition. Looking ahead to the next decade, these new aircraft will enable us to strengthen our core markets and further improve our customer experience, while continuing to drive long-term value for our shareholders.'
Scottish Sun
09-05-2025
- Business
- Scottish Sun
British Airways spends £17billion on jets after Trump teased Boeing would get a bumper order under US-UK trade deal
BRITISH AIRWAYS' owner is spending £17billion on new jets — a day after Donald Trump teased Boeing would get a bumper British order under the US-UK trade deal. The request for 32 Boeing 787-10 aircraft for BA was announced yesterday by International Consolidated Airlines Group. 1 British Airways' owner is spending £17billion on new jets Credit: Getty It has also made a separate order with Europe's Airbus for 21 A330-900neo planes for its Aer Lingus, Iberia and Level carriers. It came just a day after US Trade Secretary Howard Lutnick said the UK would be buying '$10billion (£7billion) worth of Boeing planes' alongside its trade deal. IAG insiders yesterday said the order had been in the works for many months, rather than deliberately coordinated alongside the US-UK agreement. The aircraft are expected to arrive between 2028 and 2033 but mark IAG's first order for jets since the pandemic upended the travel industry. It is also the biggest deal Boeing has struck since a string of safety scandals — including a door peg blowing off midflight — caused significant delays and supply chain issues. IAG separately posted a 9.6 per cent rise in revenues during the first quarter to £7billion and swung back into the black with £176million of profits. Boss Luis Gallego said it 'marks a milestone in our strategy and transformation programme'. Shares rose 2 per cent yesterday to 296.1p. Moment Keir Starmer & Donald Trump seal UK-US trade deal in historic phone call POWER GAFFE TEN energy firms including Octopus, OVO and EDF have been ordered to pay back £7million to customers after overcharging them. Ofgem said 34,000 customers who had more than one electricity meter would receive compensation. Octopus, the UK's biggest supplier, paid out £2.64million in refunds and made a £546,278 goodwill payment. TRAVIS PERKIER BUILDING materials group Travis Perkins has poached Gavin Slark to fill its vacant CEO position from rival construction company SIG. Ex-boss Peter Redfern quit midway through a turnaround plan after just six months due to ill health. Mr Slark will take over in 2026 but the news lifted shares in Travis Perkins by as much as 6 per cent.
Yahoo
09-05-2025
- Business
- Yahoo
British Airways Owner IAG to Buy 53 Boeing and Airbus Planes Despite Market Uncertainty
British Airways owner International Consolidated Airlines said it ordered 53 planes from Boeing and Airbus, marking a significant investment in its fleet despite uncertainty in the sector stemming from trade tensions. The airline group, which also houses Iberia and Vueling among others, said it ordered 32 Boeing 787-10 aircraft for British Airways and 21 Airbus A330-900neo aircraft which it said could be deployed to Iberia or its other companies, Aer Lingus or Level. Volkswagen Recalls ID. Buzz Because the Back Seat Is Too Big Celsius's Mashinsky, Former Crypto High-Roller, Gets 12-Year Prison Sentence With U.K. Deal, U.S. Signals That 10% Tariff on World Is New Baseline McKesson to Spin Off Medical-Surgical Company The 1-800-Flowers Founder Decides It Is Time to 'Fire Myself' The aircraft are due to be delivered between 2028 and 2033, with the orders subject to shareholder approval in June, IAG said Friday. The move comes on the heels of Thursday's framework trade agreement between the U.S. and the U.K., in which both countries agreed to curtail tariffs on some goods, including Rolls-Royce jet engines and parts. IAG didn't disclose financial details of the order, but Commerce Secretary Howard Lutnick on Thursday said a British airline, which he didn't name, would announce that it is buying $10 billion of Boeing planes. Chief Executive Officer Lluis Gallego, however, stressed in a post-earnings call with journalists on Friday that the plane orders were negotiated ahead of the news of the trade talks. 'We welcome the agreement but this negotiation process started a long time ago,' Gallego said. As part of the order agreement, British Airways holds the right to purchase up to 10 more U.S.-made Boeing 787s, while IAG can buy up to 13 additional Airbus A330-900neo aircraft, the company said. While U.S. carriers such as American Airlines and Delta Air Lines have recently withdrawn guidance amid declining domestic demand and tariff-related uncertainty, IAG expressed its confidence in its North Atlantic market. Demand for premium cabin space appears to be mitigating softness for U.S. point-of-sale economy seating, IAG said after passenger unit revenue for the region increased by 13%, marking the steepest growth across the whole of the company. Strong overall demand for flights meant that its second-quarter was around 80% booked, with revenue ahead of its year-earlier level. IAG maintained its guidance for 2025, although Gallego said it was yet too early to say for sure how the rest of the year will play out In the first three months, IAG swung to a first-quarter profit of 176 million euros, equivalent to $197.6 million, from a loss of 4 million euros in the same period a year earlier. Revenue rose 9.6% to 7.04 billion euros, with growth in both passenger and cargo income. Write to Pierre Bertrand at Funko Pulls Outlook as Loss Widens, Sales Fall One of Warren Buffett's Last Big Bets Is Souring AI's Threat to Google Just Got Real Bill Gates Plans to Give Away More Than $200 Billion Over 20 Years The WSJ's Jonathan Clements Wants to Leave a Living Legacy Sign in to access your portfolio
