Author: Rajesh Kumar Singh
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Boeing’s top execs make bullish pitch to skeptical investors
By Rajesh Kumar Singh, David Shepardson and Abhijith Ganapavaram CHICAGO (Reuters) -Boeing Co’s top executives on Wednesday forecast a ramp-up in jet deliveries and higher free cash flow next year, as they sought to reassure skeptical investors the planemaker was recovering from a crippling slowdown following the pandemic and the grounding of its best-selling jet…
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GE cuts full-year earnings forecast on troubles at renewable energy business
By Rajesh Kumar Singh and Abhijith Ganapavaram (Reuters) -General Electric Co on Tuesday trimmed its full-year profit forecast after reporting a decline in third-quarter earnings, primarily due to higher warranty and related reserves at its renewable energy business. The company, however, reported much higher-than-expected free cash flow. Its quarterly revenue also topped Wall Street’s estimates.…
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American Airlines forecasts stronger fourth-qtr profit on travel demand
By Rajesh Kumar Singh and Aishwarya Nair (Reuters) -American Airlines Group Inc on Thursday forecast that fourth-quarter profit would exceed analyst estimates after posting better-than-expected earnings in the third quarter, as demand for travel remained resilient despite higher airfare and growing risks of an economic recession. The Texas-based carrier expects adjusted profit between 50 and…
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Boeing surprises with positive cash flow, sets eyes on Dreamliner restart
By Abhijith Ganapavaram and Rajesh Kumar Singh (Reuters) -Boeing Co on Wednesday surprised Wall Street by generating cash from operations in the second quarter and stuck to its cash flow goal for the year in a sign the planemaker was gradually overcoming costly production snarls. Shares of the U.S. planemaker rose 2.7% as 737 MAX…
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Delta warns of rising costs after missing earnings estimates
By Rajesh Kumar Singh CHICAGO (Reuters) -Delta Air Lines Inc on Wednesday posted a lower-than-expected second-quarter profit and warned that cost pressures would remain elevated through the year as it battles operational challenges, sending its shares lower. U.S. carriers are enjoying the strongest summer travel season in three years as more people resume regular activities…
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U.S. airlines sound bullish as bookings roar back
By Rajesh Kumar Singh CHICAGO (Reuters) -Airlines are back. That’s the message major U.S. carriers are sending investors after grappling with coronavirus-induced uncertainty for two years. With travel demand roaring back after a setback due to the Omicron variant of the virus early in the year, American Airlines Group, United Airlines and Alaska Air Group…
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Delta sees return to profit as travel demand hits ‘historic’ levels
By Rajesh Kumar Singh CHICAGO (Reuters) -Delta Air Lines Inc on Wednesday posted a smaller-than-expected quarterly loss and forecast returning to profit in the current quarter on the back of a booming travel demand, sending its shares higher. The company said robust consumer demand not only helped it post a “solid” profit in the month…
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JetBlue defends bid for Spirit as analysts question merit
By Rajesh Kumar Singh and Nathan Gomes (Reuters) -JetBlue Airways Corp on Wednesday mounted a vigorous defense of its unsolicited $3.6 billion bid to acquire ultra-low-cost carrier Spirit Airlines, saying the company is “highly confident” of securing regulatory approval for the deal. The New York-based carrier on Tuesday surprised Wall Street with a $33 per…
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GE’s shares fall as supply-chain woes hit Q4 revenue
By Rajesh Kumar Singh CHICAGO (Reuters) -General Electric Co on Tuesday reported a decline in quarterly revenue amid persistent global supply chain disruptions, sending its shares lower. The Boston-based industrial conglomerate’s shares also suffered because of a confusion caused by its new reporting format, which the company moved to after selling its jet-leasing business and…
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American Airlines taps president Isom as next CEO
By Abhijith Ganapavaram and Rajesh Kumar Singh (Reuters) -American Airlines Group Inc CEO Doug Parker will hand over the reins of the No. 1 U.S. airline to president Robert Isom on March 31, the company said on Tuesday, sending its shares up more than 3% before the bell. Parker will continue as chairman, while Isom…