Latest news with #BoeingDreamliners
CNBC
10 hours ago
- Business
- CNBC
Where we stand on Bullpen stock Boeing after its incredible 7-week run higher
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: Stocks were mixed to start the week . The market on the first trading day in June stumbled around the open and traded lower in the absence of any real progress on trade talks between the U.S. and China, with both countries now accusing the other of violating their Geneva trade agreement announced on May 12. Industrials and other cyclicals also felt some pain in response to President Donald Trump doubling tariffs on steel imports to 50%. Underwhelming economic data, including construction spending and ISM manufacturing, also sparked some weakness. However, the market started to cut its losses shortly before 11 a.m. ET after a senior White House official told CNBC's Eamon Javers that Trump and Chinese President Xi Jinping were likely to speak later this week. This is the same storyline that helped the market recover Friday afternoon from a sell-off earlier in the session. A few key companies, including Club names Broadcom and CrowdStrike , are set to report quarterly results later this week. But overall, we're in a quiet stretch for earnings. As a result, the market will likely be driven more by economic data and trade-related headlines. That's not necessarily a bad thing, but it helps explain why the market is so fixated on every new development out of Washington. Update: Bullpen name Boeing was on the move Monday after analysts at Bank of America upgraded the stock to a buy rating, with a new high price target of $260 per share. That represents more than 25% upside to Friday's close. Shares rose over 2% on Monday. Boeing has had quite a run over the past seven weeks. We added shares of the jet maker to our Bullpen watch list on April 10, because we believed the company would be the No. 1 beneficiary of trade deals with other countries. This thesis quickly proved true. Shortly after the U.S. and the UK announced their trade deal in early May, British Airways' parent company, International Consolidated Airlines Group , IAG for short, announced an order of 32 Boeing Dreamliners in a deal valued at around $10 billion. Boeing later received a ton of orders during Trump's tour of the Mideast, including a record-breaking order of up to 210 aircraft from Qatar Airways. Boeing also got orders from airlines based in Saudi Arabia and the United Arab Emirates. BA YTD mountain Boeing YTD The trade war de-escalation, especially with China, has helped the stock, too. Boeing shares were trading around $210 per share on Monday, a level not seen since January 2024. At that time, the company was dealing with the immediate fallout from an incident in which a door plug on a 737 Max 9 blew out. It's easy to have regrets for not pulling the trigger on Boeing when we added it to the bullpen. Our thesis has played out just like we thought, and we would be enjoying this big move if we did. However, that doesn't mean the story is over, which is why we aren't removing it from the Bullpen. We continue to like the turnaround story here and the improvements to operations that CEO Kelly Ortberg has put in place. The trade deal angle is the cherry on top. We'll watch Boeing in the weeks and months ahead and look out for pullbacks in the stock because it could be one to buy in the event tariffs and trade wars re-escalate, causing the market to sell-off. Up next: There are no major earnings reports after Monday's closing bell. Dollar General , Signet Jewelers , and Chinese smart EV maker Nio are scheduled to report earnings before Tuesday's open. On Tuesday's economic calendar, it's data factory orders and durable goods orders data. The government also releases its Job Openings and Labor Turnover Survey, commonly referred to as JOLTS. It's the first of three reports on the job market , leading up to the Labor Department's monthly employment report. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Irish Independent
3 days ago
- Business
- Irish Independent
‘It's been a great adventure' – Peter Bellew leaves Riyadh Air role after almost three years
Mr Bellew has been with the airline, which is due to begin scheduled flights later this year, for almost three years and his current role was announced just over two years ago. Earlier this year, Riyadh Air postponed its launch date to later in 2025 due to supply chain issues at Boeing. The carrier is aiming to make Riyadh a hub for traffic between Asia, Africa and Europe. By 2030 its target is to serve 100 destinations. Riyadh Air, backed by Saudi Arabia's Public Investment Fund, will be the second flag-carrier in the country, with the government already owning airline Saudia. Riyadh Air has billions of dollars' worth of orders from Boeing and Airbus and is planning to have a fleet of up to 200 jets. Getting a new widebody airline licence, launching an airline, and building a super team was fascinating Last autumn, it placed an order for 60 Airbus A321 jets and it also has orders for Boeing Dreamliners. Riyadh Air's CEO is Tony Douglas, a former executive at Abu Dhabi's Etihad. Mr Bellew confirmed his departure from Riyadh Air. 'It has been a great adventure with Riyadh Air for the last three years,' he said. 'Getting a new widebody airline licence, launching an airline, and building a super team was fascinating. Being welcomed by the wonderful Saudi people was the highlight.' He said he is 'optimistic for the future' and that the 'journey is the reward'. Mr Bellew, from Co Meath, was CEO of Malaysia Airlines before rejoining Ryanair in 2017 as chief operations officer. He was hired by Michael O'Leary as Ryanair dealt with pilot unrest that ultimately resulted in company-wide union recognition. In 2019, Mr Bellew announced that he was leaving Ryanair and later said he would be joining EasyJet as its chief operating officer. Ryanair tried to enforce a non-compete clause, taking a case against Mr Bellew in the High Court. But Mr Bellew won, with the High Court ruling a non-compete clause in his contract was not enforceable. Mr Bellew resigned from EasyJet in 2022. Mr Douglas told Reuters last month that Riyadh Air would be interested in acquiring Boeing aircraft that Chinese carriers have opted not to take due to the trade war that erupted between the US and the rest of the world, should the opportunity arise..
NBC News
3 days ago
- Business
- NBC News
Caviar and privacy: Airlines' business-class wars are here
DALLAS — Armed with dollops of caviar and handfuls of Bang & Olufsen headphones, U.S. airlines are duking it out for international business-class dominance. There are even differences between seats in the same cabin. Next week, American Airlines plans to start flying its upgraded business-class 'suites' that feature today's premium-class must-have — a sliding door — and other features like a 'trinket tray' and a wireless charging pad. Within the cabins on its subset of Boeing Dreamliners, which American is calling the 787-9P (the P stands for premium), there will be eight 'Preferred' suites that the airline says will have 42% more 'living area.' They'll be first come, first serve with no upcharge, at least for now. United Airlines is hoping to outdo its rivals by putting doors on its Polaris long-haul business class seats; creating a new option at the front of the cabin called 'Polaris Studio,' which has an ottoman (for a visitor); and installing 27-inch 4K screens. The studios are 25% larger than regular suites, United says. It hasn't yet said how much more it will charge for the studios over the standard suites. Having an even-higher tier of seats within long-haul top-tier classes has been catching on. Virgin Atlantic has the 'Retreat Suite' at the front of Upper Class on its Airbus A330s and Lufthansa is offering a two-person suite in its new Allegris first class that can be converted into a double bed. Etihad has a three-room option called 'The Residence' on Airbus A380s, which can cost $20,000 or more for a one-way ticket between New York and Abu Dhabi, though the airline varies how it uses those jets. 'The experience here is a way to give not only our existing customers a wider range of products to pick from,' Andrew Nocella, United's chief commercial officer, told reporters earlier this month. 'We just didn't have something better, and now we do.' American and United took a page from Delta Air Lines, the most profitable U.S. carrier, which already offers suites with sliding doors in its Delta One cabin. The Atlanta-based carrier, in turn, last year opened a dedicated lounge for the highest-tier customers, a move American and United had already made. Betting on business Business-class tickets are costly for many consumers. A ticket aboard American's new suite, leaving Aug. 8 and returning a week later, is going for $5,747 from Philadelphia to London, compared with $867 in standard coach. Getting more customers to pay up for pricier seats is key for an industry with high costs and thin margins. Delta had a 7.6% pretax margin last year, United had 7.3%, while American's was 2.1%, and the broader S&P 500 ′s was 12.8%, according to FactSet data. Airline executives are banking more than ever that consumers will continue to splurge on better travel experiences despite weaker-than-expected demand for lower-priced tickets like domestic coach this year. 'I think it's growing this much because the experience in economy is so bad,' said Robert Mann, who worked at several airlines and is president of aviation consulting firm R.W. Mann & Co. Airlines have been updating their cabins for years and they have become so elaborate that they have slowed down some aircraft deliveries because of supply chain snarls and bottlenecks in regulators' certification. American is using the new suites in a combined, larger business-class for international travel, and getting rid of its first class, for the most part. By many measures, though, including space and amenities, the service is higher end than many 'first class' cabins of the past. 'Really, business [class] is starting to become so similar it was hard to really differentiate, and we want to make sure we offer as many business-class seats as we can,' said Heather Garboden, American's chief customer officer. The name matters. 'A lot of corporations will not permit the purchase of first class, but they will permit business class,' said Mann. Airline executives have been confident about their push to invest billions in the more luxurious cabins, brushing off signs of a possible economic downturn. 'We're at a really uncertain economic time right now and premium demand has remained solid,' Garboden said. Wealthier people 'tend to do OK even in a recession,' Mann noted. The number of premium seats is rising along with the experience. American said by the end of the decade it will increase its lie-flat seats and premium economy seating by 50%. The airline also recently said it will offer free satellite Wi-Fi to its loyalty program members, following Delta and United. United is also growing its cabin with its Boeing 787-9 Dreamliners outfitted with eight 'Polaris Studios,' in a 1-2-1 configuration and 56 Polaris business class suites. Currently, the planes only have 48 Polaris seats. It expects to have 30 Dreamliners with the new interior by 2027 but a first flight, between United's San Francisco hub and Singapore, is set for early 2026, the airline said earlier this month. Softer touches The carriers are also trying to raise the bar on the so-called 'soft product' like plush bedding and comforts like noise-cancelling headphones. American announced last month that it won't collect its Bang & Olufsen headphones from Flagship travelers before landing so they can keep watching movies and other entertainment longer. 'Polaris food and beverage offerings are being upgraded at the same time with enhanced meal choices on all new dishware, glassware and fresh white linens,' United's Nocella said. 'We've even added red pepper flakes in addition to salt and pepper so passengers can spice up their meals.' While the top-tier business class is offering higher tech and more high-touch service, the carriers don't have the over-the-top amenities of international airlines. United is planning an amuse bouche of Ossetra caviar for Polaris. Meanwhile, in first class in Emirates , which has larger aircraft with the Airbus A380, travelers have access to showers on board and 'unlimited' caviar service. For some, good service is simpler. 'I could be sitting up front or I can be sitting in the back but if the plane's late, the plane's late,' Mann said.
CNBC
4 days ago
- Business
- CNBC
Caviar and privacy: Airlines' business-class wars are here
DALLAS — Armed with dollops of caviar and handfuls of Bang & Olufsen headphones, U.S. airlines are duking it out for international business-class dominance. There are even differences between seats in the same cabin. Next week, American Airlines plans to start flying its upgraded business-class "suites" that feature today's premium-class must-have — a sliding door — and other features like a "trinket tray" and a wireless charging pad. Within the cabins on its subset of Boeing Dreamliners, which American is calling the 787-9P (the P stands for premium), there will be eight "Preferred" suites that the airline says will have 42% more "living area." They'll be first come, first serve with no upcharge, at least for now. United Airlines is hoping to outdo its rivals by putting doors on its Polaris long-haul business class seats; creating a new option at the front of the cabin called "Polaris Studio," which has an ottoman (for a visitor); and installing 27-inch 4K screens. The studios are 25% larger than regular suites, United says. It hasn't yet said how much more it will charge for the studios over the standard suites. Having an even-higher tier of seats within long-haul top-tier classes has been catching on. Virgin Atlantic has the "Retreat Suite" at the front of Upper Class on its Airbus A330s and Lufthansa is offering a two-person suite in its new Allegris first class that can be converted into a double bed. Etihad has a three-room option called "The Residence" on Airbus A380s, which can cost $20,000 or more for a one-way ticket between New York and Abu Dhabi, though the airline varies how it uses those jets. "The experience here is a way to give not only our existing customers a wider range of products to pick from," Andrew Nocella, United's chief commercial officer, told reporters earlier this month. "We just didn't have something better, and now we do." American and United took a page from Delta Air Lines, the most profitable U.S. carrier, which already offers suites with sliding doors in its Delta One cabin. The Atlanta-based carrier, in turn, last year opened a dedicated lounge for the highest-tier customers, a move American and United had already made. Business-class tickets are costly for many consumers. A ticket aboard American's new suite, leaving Aug. 8 and returning a week later, is going for $5,747 from Philadelphia to London, compared with $867 in standard coach. Getting more customers to pay up for pricier seats is key for an industry with high costs and thin margins. Delta had a 7.6% pretax margin last year, United had 7.3%, while American's was 2.1%, and the broader S&P 500's was 12.8%, according to FactSet data. Airline executives are banking more than ever that consumers will continue to splurge on better travel experiences despite weaker-than-expected demand for lower-priced tickets like domestic coach this year. "I think it's growing this much because the experience in economy is so bad," said Robert Mann, who worked at several airlines and is president of aviation consulting firm R.W. Mann & Co. Airlines have been updating their cabins for years and they have become so elaborate that they have slowed down some aircraft deliveries because of supply chain snarls and bottlenecks in regulators' certification. American is using the new suites in a combined, larger business-class for international travel, and getting rid of its first class, for the most part. By many measures, though, including space and amenities, the service is higher end than many "first class" cabins of the past. "Really, business [class] is starting to become so similar it was hard to really differentiate, and we want to make sure we offer as many business-class seats as we can," said Heather Garboden, American's chief customer officer. The name matters. "A lot of corporations will not permit the purchase of first class, but they will permit business class," said Mann. Airline executives have been confident about their push to invest billions in the more luxurious cabins, brushing off signs of a possible economic downturn. "We're at a really uncertain economic time right now and premium demand has remained solid," Garboden said. Wealthier people "tend to do OK even in a recession," Mann noted. The number of premium seats is rising along with the experience. American said by the end of the decade it will increase its lie-flat seats and premium economy seating by 50%. The airline also recently said it will offer free satellite Wi-Fi to its loyalty program members, following Delta and United. United is also growing its cabin with its Boeing 787-9 Dreamliners outfitted with eight "Polaris Studios," in a 1-2-1 configuration and 56 Polaris business class suites. Currently, the planes only have 48 Polaris seats. It expects to have 30 Dreamliners with the new interior by 2027 but a first flight, between United's San Francisco hub and Singapore, is set for early 2026, the airline said earlier this month. The carriers are also trying to raise the bar on the so-called "soft product" like plush bedding and comforts like noise-cancelling headphones. American announced last month that it won't collect its Bang & Olufsen headphones from Flagship travelers before landing so they can keep watching movies and other entertainment longer. "Polaris food and beverage offerings are being upgraded at the same time with enhanced meal choices on all new dishware, glassware and fresh white linens," United's Nocella said. "We've even added red pepper flakes in addition to salt and pepper so passengers can spice up their meals." While the top-tier business class is offering higher tech and more high-touch service, the carriers don't have the over-the-top amenities of international airlines. United is planning an amuse bouche of Ossetra caviar for Polaris. Meanwhile, in first class in Emirates , which has larger aircraft with the Airbus A380, travelers have access to showers on board and "unlimited" caviar service. For some, good service is simpler. "I could be sitting up front or I can be sitting in the back but if the plane's late, the plane's late," Mann said.
Miami Herald
20-05-2025
- Business
- Miami Herald
Why El Al is making changes to flights from Fort Lauderdale and Miami
Two years after El Al began year-round flights to Israel from Fort Lauderdale, the airline is pulling out of the Broward County airport. Broward travelers who want to reach the religious sites, visit family or do business with tech companies in Israel will have to use Miami International Airport. Israel's state-owned airline says it's making changes to help focus business growth around the 305. Starting this fall, El Al Israel Airlines will shift the two weekly flights it now operates between Fort Lauderdale-Hollywood International Airport and Tel Aviv's Ben Gurion International Airport to Miami International Airport. The changes will be gradual. The first goes into effect in late October 2025. The second will take place on April 15, 2026, the airline said. At that point, 'El Al will cease operations at Fort Lauderdale and will concentrate all Florida-bound flights in Miami,' Simon Newton-Smith, El Al's vice president for the Americas, said in a statement sent to the Miami Herald. The blog DansDeals first reported the move from FLL to MIA. El Al will then operate seven weekly flights between Tel Aviv and MIA — although, as customary, it won't operate on the Jewish Sabbath, sundown Friday through sundown Saturday. The flights between Tel Aviv and FLL, Florida's third largest airport, started on April 15, 2024. Broward airport officials didn't respond to an email from the Miami Herald on Monday requesting comment and more information. El Al growth tied to MIA El Al said a main factor for the change: It wants a larger runway. 'The decision follows a comprehensive review of operational conditions at Fort Lauderdale, including seasonal limitations and the growing passenger traffic in the Miami area,' Newton-Smith said. El Al flies mostly Boeing Dreamliners for international trips and has a mix of 787-9s and 787-8s, according to its website. But the airline would like to use more 787-9s to carry more people and haul more goods, as it typically does at the Miami airport. Cargo is a lucrative market. 'We are moving flights back to MIA so we can utilize larger aircraft to service more passengers and cargo,' the airline executive said. 'The company's plan is to grow the South Florida market and the longer runway will give us that capability.' The changes are also to consolidate personnel and equipment in one place. El Al said focusing on MIA will also broaden its reach across the U.S. as well as Latin America and the Caribbean. The airline has an agreement with Delta Air Lines where each can sell tickets for the other. Delta has a partnership with Chilean airlines LATAM that permits fliers on one carrier to earn and use frequent flier miles on the other. Cargo market, Latin American connection at Miami airport In 2023, LATAM began cargo routes between Miami and Brasilia and increased its Miami-Florianópolis service from two to three weekly flights. It's betting big on the Magic City. 'Our biggest cargo market is Miami,' said Martin St. George, chief commercial officer for LATAM, during an interview in 2023 with the Herald. DHL Express and Avianca also have large cargo operations at MIA. In 2024, MIA set a new record for cargo, receiving over 3 million tons, more than 8% higher than 2023, the fifth consecutive year it notched an increase. That included the vast majority of fresh-cut flowers the U.S. imports for Valentine's Day and Mother's Day. El Al also has partnerships with Aeromexico and Aerolineas Argentinas. So, Newton-Smith said focusing on MIA would significantly expand its destination options across North and South America. Most airlines from the United States canceled flights to and from Israel after the October 2023 attacks by Hamas, a group the United States classifies as terrorist organization, which murdered over a thousand people and took hundreds hostage. The largest cruise companies suspended stops at Israeli ports. El Al, however, continued to fly to and from Miami and other U.S. airports. El Al also has nonstop flights to Israel from Newark Liberty International Airport, John F. Kennedy International Airport, Los Angeles International Airport and Boston's Logan International Airport.
