Aviation

Bloomberg United Airlines Holdings Inc withdrew its 2020 profit forecast, citing the financial impact of the coronavirus outbreak in China. The uncertainty surrounding the virus means United can’t guarantee its earlier goal of earning $11 to $13 a share this year, according to a regulatory filing. The earnings target is still within reach if the outbreak runs its course by ...

Bloomberg Kobe Bryant’s widow sued the owner of the helicopter that crashed in California last month, killing the retired basketball legend, their 13-year-old daughter and seven others. Vanessa Bryant is seeking compensatory and punitive damages from Island Express Helicopter Inc for negligence, according to a complaint submitted in California Superior Court in Los Angeles. The lawsuit has yet to be ...

Bloomberg Boeing Co CEO Dave Calhoun stands to reap a $7 million bonus once the planemaker finally gets the grounded 737 Max jetliner back in the air. But there’s a catch, according to a company filing. To collect, the new CEO must also resolve lingering issues with the aerospace titan’s other problem-plagued programs. That means achieving the first human flight of ...

Bloomberg Boeing Co engineers discovered in 2017 that a software glitch had rendered a warning light on the newly introduced 737 Max inoperable on 80% of the planes. But the company chose not to fix it or to inform US regulators. The next year, a Lion Air jet suffered the malfunction the alert was designed to detect and crashed in ...

Bloomberg An interim report into the deadly Boeing Co 737 Max crash in Ethiopia that led to the grounding of the US company’s top-selling model is set to be released in time for the first anniversary of the tragedy. The report will be published by March 10, Ethiopian Transport Ministry spokesman Musie Yehyies told Bloomberg. The decision not to release ...

Bloomberg The airline industry expects the first annual decline in global passenger demand in 11 years, after tallying up the initial impact of the thousands of flights cancelled because of the coronavirus outbreak in China. The estimate shaves about 4.7 percentage points off of a passenger-traffic forecast issued just two months ago, with almost all of the impact in the ...

Bloomberg Boeing Co put three employees who worked with the former chief technical pilot of the 737 Max on administrative leave as a federal grand jury investigates whether he intentionally misled the Federal Aviation Administration (FAA) about a software system tied to two deadly crashes, people familiar with the matter said. The employees were notified of the action, according to ...

Bloomberg The $35 bag fee is gaining traction as US airlines contend with the financial fallout of the grounding of the 737 Max jet and a viral pandemic that has decimated travel to China. United Continental Holdings Inc will increase the charge for passengers’ first and second checked bags by $5, to $35 and $45, respectively. The fee changes applied ...

Bloomberg Business-jet shipments last year jumped to their highest level in a decade, spurred on by new models and solid US economic growth. Deliveries rose 15% to 809 aircraft, the General Aviation Manufacturers Association (GAMA) said. Sales jumped 17% to $21.1 billion, driven in large part by big corporate planes. New aircraft, including the Gulfstream G500, Bombardier Inc’s Global 7500 ...

Bloomberg Zimbabwe’s troubled national airline has failed to secure outside investment, dealing a blow to government plans to sell state-owned assets and secure much-needed revenue. The airline, which in October 2018 was placed under administration, a form of bankruptcy protection, received expressions of interest from 10 international investors and had short-listed three bidders. “A process to solicit for a strategic ...