Latest news with #DanCatchpole
Yahoo
5 days ago
- Business
- Yahoo
Boeing CEO says he wants to crank up 737 MAX production rate through rest of year
By Dan Catchpole (Reuters) -Boeing aims to increase production of its best-selling 737 MAX jets to 42 aircraft per month in the next few months and to boost output to 47 a month in early 2026, Chief Executive Kelly Ortberg said on Thursday. The U.S. planemaker's share price jumped 5% after Ortberg said at the Bernstein Strategic Decisions conference that he hoped to have production at 47 a month by the end of 2025. A few minutes later, he corrected his comments, saying that he expects the company to be getting ready to increase production to that level by the end of the year, not reach that level. Boeing is trying to stabilize production at 38/month, where it was capped by the U.S. Federal Aviation Administration in 2024 after a midair accident put the planemaker's safety and production quality program under new scrutiny. Production defects on the 737 program are down by 30%, he said. "Virtually every one of our customers is reporting a higher quality of airplane at delivery." Increasing production is critical to getting Boeing back to being cash positive, which Ortberg has previously said he expects to achieve in the second half of the year. It burned through $2.3 billion in cash during the first quarter. "I think the financial performance will follow the production performance of the company, and I think we need to think about it that way," Ortberg said. The company is making progress on certifying the smallest and largest MAX variants with the U.S. Federal Aviation Administration, he said. The MAX 7 and MAX 10 have been delayed in part due to concerns with the engine de-icing system. The company should finish critical testing of its fix by July, allowing time to certify the aircraft by the end of the year, he said. Boeing's backlog includes nearly 1,200 orders for the 737 MAX 10 and 332 orders for the MAX 7. Ortberg also said that Chinese airlines are set to resume taking deliveries of Boeing aircraft in June. China had stopped taking deliveries in April in retaliation to tariffs imposed by President Donald Trump. Boeing expects the impacts of the tariffs to be less than $500 million, he said. 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
5 days ago
- Business
- Yahoo
Boeing CEO says aims to crank up 737 MAX production to 47 a month by year end
By Dan Catchpole (Reuters) - Boeing CEO Kelly Ortberg said on Thursday that he wants to crank 737 MAX production up from mid-30s a month now to 47 by the end of the year. Speaking at a Bernstein conference, he said that the company aims to increase production of its best-selling airplane to 42 a month "by midyear." Boeing 737 production currently is capped at 38 a month, a limit imposed by the U.S. Federal Aviation Administration in 2024 after a midair accident put the planemaker's safety and production quality program under new scrutiny. Ortberg also said that Chinese airlines are set to resume taking deliveries of Boeing aircraft in June. China had stopped deliveries in April in retaliation to tariffs imposed by President Donald Trump. 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
7 days ago
- Business
- Yahoo
Striking workers approve latest contract offer from at RTX's Pratt & Whitney
By Dan Catchpole (Reuters) - Striking workers at RTX's Pratt & Whitney approved the company's second contract offer on Tuesday by 74%, according to the International Association of Machinists and Aerospace Workers. The strike at two of the engine-maker's plants in Connecticut began May 5 after members of the International Association of Machinists and Aerospace Workers overwhelmingly rejected the first contract offer. Union representatives have previously said the roughly 3,000 striking workers' top priority is getting Pratt to commit to keep work for Lockheed Martin's F-35 fighters in the state. The strike is the first in more than 20 years at the enginemaker's Connecticut sites, where it produces engines for the F-35 and about 70% of the company's geared turbofan engine, which is used in European planemaker Airbus' strong-selling A320 neo family. The vote results "reaffirms our commitment to the people, programs and communities that have powered our legacy — and will shape our next century of aviation innovation,' a Pratt & Whitney spokesperson said. During the strike, Pratt reassigned some engineers to production lines as part of its contingency plan, which was first reported by Reuters.
Yahoo
23-05-2025
- Business
- Yahoo
Striking workers at Pratt & Whitney to vote on revised contract offer
By Dan Catchpole (Reuters) -About 3,000 striking workers at RTX's Pratt & Whitney are slated to vote on a contract offer from the engine maker next week, the company and the union representing the workers announced on Friday, one day after negotiations resumed. The nearly three-week-long strike has significantly slowed production at two of the company's plants in Connecticut. Union representatives have said the workers' top priority is getting Pratt to commit to keep work for Lockheed Martin's F-35 fighters in the state. Members of the International Association of Machinists and Aerospace Workers overwhelmingly rejected the first contract offer on May 4. "On Tuesday, our members will decide if we achieved our objectives around job security, wage security, and retirement security," IAM leaders said in a message sent Friday to members. "This new proposal has significant changes/improvements in all three of these core areas." A Pratt spokesperson declined to comment on the specifics of the offer. The strike is the first in more than 20 years at the enginemaker's Connecticut sites, where it produces engines for the F-35 and about 70% of the company's geared turbofan engine, which is used in European planemaker Airbus' strong-selling A320 neo family. Pratt has reassigned some engineers to production lines as part of its contingency plan, which was first reported by Reuters.
Yahoo
23-05-2025
- Business
- Yahoo
Striking workers at Pratt & Whitney to vote on revised contract offer
By Dan Catchpole (Reuters) -About 3,000 striking workers at RTX's Pratt & Whitney are slated to vote on a contract offer from the engine maker next week, the company and the union representing the workers announced on Friday, one day after negotiations resumed. The nearly three-week-long strike has significantly slowed production at two of the company's plants in Connecticut. Union representatives have said the workers' top priority is getting Pratt to commit to keep work for Lockheed Martin's F-35 fighters in the state. Members of the International Association of Machinists and Aerospace Workers overwhelmingly rejected the first contract offer on May 4. "On Tuesday, our members will decide if we achieved our objectives around job security, wage security, and retirement security," IAM leaders said in a message sent Friday to members. "This new proposal has significant changes/improvements in all three of these core areas." A Pratt spokesperson declined to comment on the specifics of the offer. The strike is the first in more than 20 years at the enginemaker's Connecticut sites, where it produces engines for the F-35 and about 70% of the company's geared turbofan engine, which is used in European planemaker Airbus' strong-selling A320 neo family. Pratt has reassigned some engineers to production lines as part of its contingency plan, which was first reported by Reuters. 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
