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Travel

Malaysia to resume search for missing MH370 plane 10 years after

Kuala Lumpur, Dec. 20, 2024 – Malaysia’s cabinet has agreed to a proposal to launch a new search for Malaysia Airlines flight MH370, which disappeared mysteriously 10 years ago, the transport minister said Friday. The Boeing 777 carrying 239 people disappeared from radar screens on March 8, 2014, while en route from Kuala Lumpur to Beijing, and despite the largest search in aviation history, the plane has never been found. Transport Minister Anthony Loke said the government on December 13 “agreed in principle to accept the proposal from Ocean Infinity”, …

Capital market Travel

Boeing’s year of crisis leaves investors wary of beaten-up stock

Seattle, Dec. 16, 2024 – What was supposed to be a comeback year for Boeing Co. has turned into its worst stock-market plunge since 2008, and if Wall Street is right, the plane-maker’s shares may have only a modest recovery in store in 2025. The stock is down 35% this year, placing it among the 20 biggest decliners in the S&P 500 Index. The shares have stabilized over the past month, but investors remain wary. They point to the string of crises in 2024 that shook their confidence in Boeing’s …

Travel

NCAA certifies Lagos, Abuja airports

Abuja, Nov. 22, 2024 – The Nigeria Civil Aviation Authority (NCAA) has certified the Murtala Muhammed International Airport, MMIA in Lagos and Nnamdi Azikiwe International Airport (NAIA) in Abuja.   Chris Najomo , the Acting Director General of NCAA, disclosed this presenting the certificates to the Federal Airports Authority of Nigeria (FAAN), He said the two airports had been fully certified although many y of Nigeria’s airports must be worked on to meet international standards.  “The recertification process is not merely a formality; it is anchored in the principles established …

Travel

Trump will be “a breath of fresh air” after Biden’s overreach – Delta Air boss

Atlanta, Nov. 21, 2024 – The chief executive of Delta Air Lines says the incoming trump administration will be a ‘breath of fresh air’ for his industry after what he called government ‘overreach’ under President Joe Biden. Airlines have chafed under consumer protection regulations imposed by the Biden administration. And Delta is facing a federal investigation into its slow recovery from a global technology outage this summer. Delta CEO Ed Bastian made the comments as he and fellow Delta executives prepared to host Wall Street analysts at an investor day Wednesday …

Manufacturing/Industry Politics Travel

Boeing, union hold ‘productive’ talks to end strike

Seattle, Oct. 30, 2024 – Boeing Company and union leaders representing 33,000 striking workers held fruitful talks Tuesday, with the help of the Biden administration’s top labor official, as they try to end a seven-week labor dispute that’s crippling Boeing’s US manufacturing. Boeing and the International Association of Machinists and Aerospace Workers had a “productive face-to-face meeting”, with assistance from acting Labor Secretary Julie Su, to “address key bargaining issues,” the union said on its website. The “negotiating committee will continue to engage with the company to secure the best …

Business Planning Travel

Boeing shores up cash reserves as labour strike, operations costs soar

Seattle, Oct. 16, 2024 – Boeing (BA) made two big moves late Monday night to shore up its balance sheet as the company faces an extremely difficult time ahead. First, Boeing entered into an agreement to secure$10 billion in supplemental credit from a consortium of banks led by Bank of America Securities, Citibank, Goldman Sachs, and JPMorgan. Second and more importantly, the company filed a mixed shelf registration with the SEC to offer uo to $25 billion in new debt securities, common stock, preferred stock, and other share offerings. Earlier, the …

Business Solutions Foreign Travel

Boeing’s endless doom loop gives no respite to CEO Ortberg

Seatle, Oct. 14, 2024 – As Boeing Co. lurches from one crisis to the next, there’s been one constant for the embattled planemaker: Its predicament appears to be only getting worse. From a freak accident that blew a door-size hole into the fuselage of an airborne 737 Max to revelations of sloppy workmanship and now a crippling strike entering its second month, the icon of US manufacturing been beset by trouble since the first days of January. Cash is dwindling, plane production is anemic and the stock is heading for …

Foreign Manufacturing/Industry Travel

Boeing would be biggest-ever US ‘fallen angel’ If cut to junk

Washington, Oct. 11, 2024 – If cut to junk status, Boeing Co. will be the biggest US corporate borrower to ever be stripped of its investment-grade ratings and join junk bond indexes, flooding the high-yield market with a record volume of new debt to absorb. On Tuesday, S&P Global Ratings said it’s considering downgrading the planemaker to junk as strikes at its manufacturing sites persist, hurting production. Last month, Moody’s Ratings said it’s considering a similar move. Fitch Ratings has highlighted the growing risks but not yet announced a review. …

Foreign General News Travel

Turkish Airlines pilot dies while flying plane from Seattle

New York, Oct. 9, 2024 – A Turkish Airlines flight made an emergency landing in New York early Wednesday after the captain lost consciousness midflight and died, an airline spokesman said in a statement. Yahya Ustun, senior vice president for media relations, said on X that Ilcehin Pehlivan, 59, did not respond to medical intervention onboard the Airbus 350 scheduled to fly from Seattle to Istanbul. There was a co-pilot in the cockpit. The flight was over northern Canada before it turned to the south, making a four-hour flight to New …

General News Travel

Return of Emirates has opened more opportunities for local airliners – Keyamo

Abuja, Oct. 3, 2024 – The return of Emirates to Nigeria will open more international destinations to local airliners. Festus Keyamo, the Minister of Aviation and Aerospace Development, said this on Wednesday after arriving in Lagos aboard an Emirates aircraft from UAE. He assured that the Emirates Airline had returned to stay in Nigeria after two years of absence. Emirates suspended its flight operations to Nigeria in November 2022 due to its failure to repatriate over $85 million revenue trapped in Nigeria.  Keyamo said the new Bilateral Air Service Agreement …