Latest news with #BoeingBA.N
USA Today
4 days ago
- Business
- USA Today
Major airlines warn credit card fee bill could end frequent flyer rewards
Major airlines warn credit card fee bill could end frequent flyer rewards Show Caption Hide Caption New United Airlines policy means you may need to arrive earlier A new United Airlines policy will require passengers without checked bags to arrive at least 45 minutes before their flight. Major airlines said Monday they oppose a new effort to advance legislation that would reduce fees charged by Visa V.N and Mastercard MA.N on transactions, saying the bill could force them to stop offering rewards credit cards that give consumers frequent flyer miles for making transactions. American Airlines AAL.O, United Airlines UAL.O, Southwest Airlines LUV.N and others including Boeing BA.N, Airbus RTX RTX.N and GE Aerospace GE.N, said in a letter to senators the legislation sponsored by Senators Dick Durbin and Roger Marshall could sharply reduce air travel and harm overall tourism. Also signing the letter were aviation unions. Airlines generate billions of dollars annually in fees for branded credit cards. Durbin has called the airlines "basically credit card companies that own some planes." Airlines successfully defeated efforts in 2023 to pass the measure but it could be attached to a cryptocurrency bill under consideration. Durbin, a Democrat, said previously the measure co-sponsored with Republican Marshall could save merchants and consumers $15 billion annually in fees charge for credit card transactions, while businesses pay more than $100 billion in so-called swipe fees annually. Credit card news: General Motors revamps credit card, changes GM Rewards program to add discounts Durbin and Marshall did not immediately respond to requests for comment. The letter said over 31 million Americans hold airline travel reward cards and 57% of all frequent flier miles and points issued in 2023 were generated by airline credit card use and nearly 16 million domestic air visitor trips were awarded from points earned through use of an airline-branded credit card in 2023. Last year, the Biden administration's Transportation Department opened an inquiry ordering American, Delta Air Lines, Southwest and United to provide records and submit reports to ensure consumers do not face unfair, deceptive, or anticompetitive practices. U.S. carriers relied on these programs, which have tens of millions of members, for revenue and to raise funds during the COVID-19 pandemic when travel demand plunged. Loyalty programs of Delta, United and American were each valued at more than $20 billion in 2023, according to consulting firm On Point Loyalty. Reporting by David Shepardson; Editing by Nick Zieminski
USA Today
20-05-2025
- Business
- USA Today
Qatar dismisses concerns over offer of aircraft to President Donald Trump
Qatar dismisses concerns over offer of aircraft to President Donald Trump DOHA, May 20 (Reuters) - Qatar dismissed concerns about its offer to give U.S. President Donald Trump a Boeing BA.N plane, saying it was not trying to buy influence, a day after a bill was introduced in the Senate to prevent a foreign aircraft operating as Air Force One. Qatar's Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani said on Tuesday that the offer was "a normal thing that happens between allies," reiterating that the Gulf Arab country has been a reliable partner to the United States. He said he did not know why people considered the gift as bribery, or a way for Qatar to buy influence with the Trump administration. "But I'm hoping that people in the United States and even the politicians over there, they see us as a friend, as a partner, as a reliable partner that we've always been there for the U.S. whenever we were needed," he said at the Qatar Economic Forum held in Doha. More: 'Profound issues': Mike Pence says it's a 'bad idea' for Donald Trump to accept Qatari jet U.S. Senate Democratic leader Chuck Schumer introduced the "Presidential Airlift Security Act" after news Trump planned to accept a $400 million airplane from Qatar, which legal experts said raised a raft of questions about the scope of laws that relate to gifts from foreign governments and are intended to thwart corruption and improper influence. Trump shrugged off ethical concerns, saying it would be "stupid" to turn down the generous offer. Retrofitting a luxury Boeing BA.N 747-8 airplane offered by Qatar's royal family would require security upgrades, communications improvements to prevent spies from listening in and equipment to fend off incoming missiles, experts said. Trump said the Boeing 747-8 would eventually be donated to his presidential library - a repository housing research materials from his administration, and that he had no plans to use it for personal reasons after leaving office. More: Planes on the brain: Trump covets jet gift, announces Boeing deal on Qatar trip During his visit to Doha on Wednesday, Boeing landed its biggest deal for widebody airplanes when state carrier Qatar Airways placed firm orders for 160 jetliners plus options to buy 50 more, a win for Trump on his high-profile trip to the region. (Reporting by Andrew Mills, Writing by Nayera Abdallah, Editing by Louise Heavens, Kirsten Donovan and Sharon Singleton)
Dubai Eye
16-05-2025
- Business
- Dubai Eye
Trump says Qatar will invest $10 billion in US airbase
US President Donald Trump said on Thursday that Qatar will invest $10 billion in coming years in the Al Udeid Air Base southwest of the country's capital Doha, the largest US military facility in the Middle East. In a speech to US troops at the base during his tour of the Gulf, Trump also said Qatari defence purchases signed on Wednesday are worth $42 billion. Trump also highlighted that the 2026 budget includes substantial pay raises for service members. During an earlier meeting of business leaders, Trump said the US is examining the possible development of a twin-engined warplane to be known as the F-55, as well as an upgrade to its Lockheed Martin F-22 Raptor called the F-22 Super. Trump referred to the proposed F-55 as both an upgrade to the Lockheed Martin F-35 and a separate new development. He also highlighted the role of a new air dominance platform called the F-47, recently awarded to Boeing BA.N, and said the United States was simultaneously looking at upgrading the stealth fighter that it is designed to replace, the F-22. "We're going to do an F-55 and - I think, if we get the right price, we have to get the right price - that'll be two engines and a super upgrade on the F-35, and then we're going to do the F-22," Trump said. "I think the most beautiful fighter jet in the world is the F-22 but we're going to do an F-22 Super and it'll be a very modern version of the F-22 fighter jet," he said. "We're going to be going with it pretty quickly," he added. It follows the announcement of a string of business deals including an order from Qatar for 160 Boeing commercial jets. Trump on Thursday also claimed the US was getting close to securing a nuclear deal with Iran, and Tehran had "sort of" agreed to the terms. "We're in very serious negotiations with Iran for long-term peace," Trump said on a tour of the Gulf, according to a shared pool report by AFP. Fresh talks between Iranian and US negotiators to resolve disputes over Tehran's nuclear programme ended in Oman on Sunday with further negotiations planned, officials said.
ARN News Center
15-05-2025
- Business
- ARN News Center
Trump says Qatar will invest $10 billion in US airbase
US President Donald Trump said on Thursday that Qatar will invest $10 billion in coming years in the Al Udeid Air Base southwest of the country's capital Doha, the largest US military facility in the Middle East. In a speech to US troops at the base during his tour of the Gulf, Trump also said Qatari defence purchases signed on Wednesday are worth $42 billion. Trump also highlighted that the 2026 budget includes substantial pay raises for service members. During an earlier meeting of business leaders, Trump said the US is examining the possible development of a twin-engined warplane to be known as the F-55, as well as an upgrade to its Lockheed Martin F-22 Raptor called the F-22 Super. Trump referred to the proposed F-55 as both an upgrade to the Lockheed Martin F-35 and a separate new development. He also highlighted the role of a new air dominance platform called the F-47, recently awarded to Boeing BA.N, and said the United States was simultaneously looking at upgrading the stealth fighter that it is designed to replace, the F-22. "We're going to do an F-55 and - I think, if we get the right price, we have to get the right price - that'll be two engines and a super upgrade on the F-35, and then we're going to do the F-22," Trump said. "I think the most beautiful fighter jet in the world is the F-22 but we're going to do an F-22 Super and it'll be a very modern version of the F-22 fighter jet," he said. "We're going to be going with it pretty quickly," he added. It follows the announcement of a string of business deals including an order from Qatar for 160 Boeing commercial jets. Trump on Thursday also claimed the US was getting close to securing a nuclear deal with Iran, and Tehran had "sort of" agreed to the terms. "We're in very serious negotiations with Iran for long-term peace," Trump said on a tour of the Gulf, according to a shared pool report by AFP. Fresh talks between Iranian and US negotiators to resolve disputes over Tehran's nuclear programme ended in Oman on Sunday with further negotiations planned, officials said.
USA Today
21-03-2025
- Business
- USA Today
Boeing secures $20 billion contract for F-47 fighter jet under Trump administration
Boeing secures $20 billion contract for F-47 fighter jet under Trump administration Show Caption Hide Caption Trump awards Boeing much-needed win with fighter jet contract Trump awards Boeing the contract to build the U.S. Air Force's F-47 fighter jet, March 21, 2025, Washington, D.C. U.S. President Donald Trump awarded Boeing BA.N on Friday the contract to build the U.S. Air Force's most sophisticated fighter jet yet, dubbed the F-47, handing the company a much-needed win. The Next Generation Air Dominance program will replace Lockheed Martin's F-22 Raptor with a crewed aircraft built to enter combat alongside drones. Trump, the 47th president, announced the new jet's name, the F-47. "We've given an order for a lot. We can't tell you the price," Trump told reporters in the Oval Office. "Our allies are calling constantly," Trump added, saying foreign sales could be an option. "They want to buy them also." For Boeing, the win marks a reversal of fortune for a company that has struggled on both the commercial and defense sides of its business. It is a major boost for its St. Louis, Missouri, fighter jet production business. The engineering and manufacturing development contract is worth more than $20 billion. Boeing's win means it will make the jet fighter and receive orders worth hundreds of billions of dollars over the contract's multi-decade lifetime. Shares of Boeing rose nearly 5% after the U.S. company beat out Lockheed Martin LMT.N for the deal. Lockheed's shares fell nearly 7%. Aviation industry: Boeing CFO raises concerns over Trump's tariffs and supplier constraints Reuters reported Boeing's victory before the official announcement. The plane's design remains a closely held secret, but would likely include stealth, advanced sensors, and cutting-edge engines. "Compared to the F-22, the F-47 will cost less and be more adaptable to future threats — and we will have more of the F-47s in our inventory," said Chief of Staff of the Air Force, General David Allvin. Boeing did not immediately respond to a request for comment. NGAD was conceived as a "family of systems" centered around a sixth-generation fighter to counter adversaries such as China and Russia. Allvin added the F-47 will have significantly longer range, more advanced stealth, and will be more sustainable and more easily supported than the F-22. Major win Boeing's commercial operations have struggled as it attempts to get its best-selling 737 MAX jet production back up to full speed, while its defense operation has been weighed down by underperforming contracts for mid-air refueling tankers, drones and training jets. "The win is a major boost for the company, which has struggled with cost overruns, schedule delays and execution on other DoD programs," said Roman Schweizer, an analyst at TD Cowen. Cost overruns at the KC-46 mid-air refueling tanker program have surpassed $7 billion in recent years, while another fixed-price contract to upgrade two Air Force One planes has created a $2-billion loss for the top-5 U.S. defense contractor. Boeing has faced ongoing scrutiny since a series of crises including a mid-air emergency in January 2024 involving a new Alaska Airlines 737 MAX 9 missing four key bolts. In January, Boeing reported an $11.8-billion annual loss — its largest since 2020 — due to problems at its major units, along with fallout from a strike that shuttered production of most of its jets. Boeing has ceded ground to rival Airbus in the delivery race and entered the crosshairs of regulators and customers following missteps. The Federal Aviation Administration in early 2024 imposed a monthly production cap. "A program of this size and complexity requires careful oversight to make sure it doesn't fall behind or have cost overruns," Democratic Senator Mark Kelly, a former U.S. Navy combat pilot, said in a statement. Billionaire and presidential adviser Elon Musk has voiced skepticism about the effectiveness of crewed high-end fighters, saying cheaper drones were a better option. Lockheed, which was recently eliminated from the competition to build the Navy's next-generation carrier-based stealth fighter, faces an uncertain future in the high-end fighter market after the loss. "While disappointed with this outcome, we are confident we delivered a competitive solution," Lockheed said in a statement. "We will await further discussions with the U.S. Air Force." While Lockheed could still protest the government's award to Boeing, the fact Trump announced the deal in a high-profile press conference could reduce the possibility of a public airing of arguments against the agreement from the Bethesda, Maryland-based defense firm. Reporting by Mike Stone in Washington; additional reporting by David Shepardson; Editing by Chris Sanders and Rod Nickel
