According to a monthly business jet report issued by JPMorgan last month, the pre-owned market recovery continues though new jet demand is expected to lag.
Dow Jones Industrial Average
While no one at Boeing would dare admit to any level of satisfaction with six separate delays to first flight of the 787, silver linings do exist behind the cloud that has hung over the program for the better part of two and a half years. Take, for example, the airplane’s maintenance schedules.
Boeing Commercial Airplanes faced some familiar scrutiny over the fidelity of its program timelines again this month, when, no more than six weeks after 747-8 program head Mo Yahyavi portrayed the project as a virtual model of efficiency during an interview with AIN, the company announced that it would take a pre-tax charge against third-quarter results of approximately $1 billion “due to increased production costs and the dif
The U.S. Air Force has recommended cancelling the Boeing avionics modernization program (AMP) that was supposed to upgrade more than 200 Lockheed Martin C-130H Hercules airlifters. The program has already lost its only export customer: the Swedish Air Force. A spokesman for the Swedish Armed Forces told AIN that the AMP is too expensive and would entail long delays.
Boeing, Shanghai Airport Authority and Shanghai Airlines have opened a new two-bay hangar at their joint venture, Boeing Shanghai Aviation Services. Located at Shanghai Pudong Airport, the new hangar is a major element of Boeing Shanghai’s plan to become a significant aviation services provider in China.
According to a monthly business jet report issued by JPMorgan this week, the pre-owned market recovery continues though new jet demand is expected to lag.
The International Association of Machinists and Aerospace Workers (IAM) has accused General Electric Aviation of failing to seriously consider viable proposals that would have preserved the GE Aviation facility in Albuquerque, N.M. “Despite a legal obligation to weigh alternatives, it is clear the decision by GE to close this plant was made long ago,” said Ernest “Red” Dow, Local 794 president and directing business representative.
Boeing announced today that it would take a pre-tax charge against third-quarter financial results of approximately $1 billion “due to increased production costs and the difficult market conditions” associated with the 747-8 program.
“We’ve felt a more positive vibe on business jets recently, with used inventory ticking down slightly and flight operations edging upward,” JPMorgan Equity Research aerospace analyst Joseph Nadol III said last month.
Production and maintenance workers at Boeing Charleston, the former Vought factory in North Charleston, S.C., yesterday voted to remove the International Association of Machinists and Aerospace Workers (IAM) as their collective bargaining representative.