Due to the increased sale of Airbus superjumbo A380, the company's earnings rose to 1.6% last year. The aircraft maker is hoping another boost in its earnings this year because of the overwhelming order bookings from different countries.
Tags: Boeing
Boeing to Reduce Workforce by June As Part of Cost-Cutting and Reorganization
Boeing will reduce its workforce as part of the company’s cost-cutting and reorganization effort. Although it surpassed order forecast for last year, it was offset by a huge drop in new orders. Clients would not want to wait for several years before their orders get delivered.
Amazon is Pushing The U.S. Government to Authorize Its Efforts on Establishing a Delivery Business
Amazon is pushing the U.S. officials to authorize their moves in efforts to be a new player in the logistics and delivery industry. In recent months, the company has been making moves to achieve the ambition, including building its drones fleet and leasing Boeing planes.
FedEx Said Amazon Needs Tens of Billions of Dollars and Years to Compete With The Company's Network
FedEx said in a statement that “a new entity competing” with the company will have to spend tens of billions of dollars to replicate its current extensive network. The statement, referring to Amazon’s new plan to get into the logistic business, also assured that FedEx’s relationship with Amazon remain strong.
Aurora Flight Sciences Develops Vertical Takeoff X-plane with Defense Agency and Investment Firm
Aurora Flight Sciences has been awarded a $89 million worth contract with a defense agency DARPA. The company is developing new design and technology that could enable its X-plane to do a vertical take-off, as well as hover and fly forward efficiently, potentially revolutionizing the military and commercial aviation sector.
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Rolls-Royce halved its dividend payment to shareholders this year. However, many were relieved to get a dividend amount itself, especially since the company had issued five profit warnings in two years. Despite a fall in profit by 12%, the company shares jumped 13%.
The FAA issued an official warning to airlines that lithium-ion batteries powering most mobile devices including smartphones are dangerous to be brought and transported in the aircraft’s cargo. The warning was stated following a series of study involving previous incidents involving lithium ion batteries overheating.
The British company formed a partnership worth $7.6 million to develop hydrogen fuel cell technology for smartphones. The technology would create a need to modify the hardware of the smartphone to manage the chemical reaction waste. Intelligent Energy stated that if all goes well, the new technology could hit the market in two years.
Air France and KLM are planning to reinstate direct flights to Iran, now that the international sanctions regarding the country's nuclear ambitions are lifted. Iran also planned to request direct flight to the U.S, for the first time since the two countries broke their diplomatic relationship 36 years ago. Air France and KLM are expected to start flying to Iran within the next three months.
Boeing will report a $569 million after-tax accounting loss in its fourth quarter. The company will also reduce production of its 747 airplane starting September this year..
Researchers in NASA is moving one step further to introduce a hybrid airplane technology in concluding its ERA project. The airplane will be able to fly on both fossil fuel and electricity, similar to hybrid car technology.
United Launch Alliance (ULA), a joint venture (JV) between Lockheed Martin and Boeing, is entering into miniature satellites segment. ULA is planning to launch a CubeSat carrier by mid 2017. ULA will explore business potential in launching small satellites for earth imaging, weather forecasting, internet relays, etc.
Quebec is reacting positively to its decision of supporting Bombardier Inc with $1-billion lifeline. Quebec says its decision wouldn't attract any trade dispute from the competitors of Canadian airline.
China revealed their first owned passenger plane manufactured by a Chinese initiative to compete with the leading global aircraft manufacturers for the largest passenger jetliners in Aviation market. Though, China is also among the mammoths in Aviation industry, the state still depends on Boeing and Airbus aircraft.
