Author: Valerie Insinna
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Exclusive-Lockheed exits US Air Force tanker competition; lifting Boeing’s KC-46
By Valerie Insinna and Mike Stone WASHINGTON (Reuters) -Lockheed Martin Corp has withdrawn from the U.S. Air Force’s competition to build at least 75 refueling tankers, the company said, giving Boeing’s KC-46 Pegasus a boost in the closely watched multi-billion dollar Air Force contract. Airbus had teamed up with Lockheed in 2018 to offer its…
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RTX engine issue will ground 350 planes per year through 2026
By Valerie Insinna and Abhijith Ganapavaram (Reuters) -RTX Corp shares hit a two-year low on Monday after it announced that hundreds of Airbus A320neo jets will be grounded through 2026 as its Pratt & Whitney engines unit removes geared turbofan engines (GTF) for quality checks. As the result of a powder metal defect that could…
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Exclusive-Lockheed raises concerns over L3Harris-Aerojet deal
By Valerie Insinna PARIS (Reuters) – Lockheed Martin has raised concerns with the U.S. Defense Department and Federal Trade Commission (FTC) about L3Harris’s acquisition of Aerojet Rocketdyne, Lockheed’s chief operating officer said on Tuesday. Frank St John told Reuters that Lockheed, Aerojet’s biggest customer, wanted L3Harris to ensure access to rocket motors, fair pricing and…
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New 787 Dreamliner issue could slow delivery of 90 jets in Boeing’s inventory
By Valerie Insinna and David Shepardson WASHINGTON (Reuters) -Boeing said on Tuesday it is slowing deliveries of its 787 Dreamliner after the company discovered a new production flaw, but expressed optimism that it can still deliver 70-80 of the widebody jets this year as planned. The problem, which does not pose a flight safety concern,…
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Boeing resumes 767 freighter deliveries after three-month pause
By Valerie Insinna WASHINGTON (Reuters) -Boeing Co said on Wednesday it had restarted deliveries of its widebody 767 after a three-month pause caused by supplier quality issues. The U.S. planemaker was forced to halt deliveries of the 767F freighter and KC-46 tanker earlier this year after it discovered center fuel tanks made by a supplier…
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Boeing 767 freighter, KC-46 tanker face delivery snags due to fuel tank problem
By Valerie Insinna and Abhijith Ganapavaram WASHINGTON (Reuters) – A new supplier problem has stymied deliveries of Boeing’s 767 freighter and KC-46 tanker, the company confirmed on Tuesday. According to a March 6 report by aviation publication The Air Current, Boeing has not delivered any 767-based jets in 2023 due to a quality issue surrounding…
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Boeing denies CEO Calhoun $7 million bonus due to 777X delays
By Valerie Insinna WASHINGTON (Reuters) – Boeing Co. Chief Executive Dave Calhoun will not receive a $7 million bonus due to the company’s failure to enter the 777X into service by the end of 2023, Boeing said Friday. Boeing offered the performance-based incentive to Calhoun when he replaced former CEO Dennis Muilenburg in January 2020…
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Boeing says parts shortages persist, hampering plane production
By Valerie Insinna (Reuters) – Boeing Co’s finance chief said on Wednesday the planemaker was still facing parts shortages as the supply chain remained unstable and unpredictable. Boeing aims to increase production of its bestselling 737 MAX narrowbody jetliner from a stable rate of about 31 jets a month to 38 a month by the…
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Boeing to hire 10,000 workers in 2023 as it ramps up production
By Valerie Insinna and David Shepardson WASHINGTON (Reuters) – Boeing expects to hire 10,000 workers in 2023 as it recovers from the pandemic and increases jetliner production, but will trim some support jobs, the U.S. planemaker said Friday. The Arlington, Virginia-based company boosted overall employment by about 14,000 workers in 2022 to 156,000 as of…
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Boeing reports loss, but first positive free cash flow since 2018
By Valerie Insinna and David Shepardson WASHINGTON (Reuters) -Boeing Co losses widened for 2022 on weakness in its defense unit as it warned of further supply chain issues, but the U.S. planemaker reported its first yearly positive cash flow since 2018. The U.S. planemaker missed Wall Street expectations on revenue and earnings per share in…