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Boeing's new CEO, Kelly Ortberg, has expressed his commitment to improving the company's relationship with its workers as they head into crucial labor negotiations. Ortberg met with union representatives and stated his desire for a new contract that will benefit employees and build a strong future. Avoiding a potential strike is a top priority for Ortberg, as the company is currently in the final phase of contract negotiations with labor groups representing over 33,000 workers. Ortberg has also been engaging with airline customers and visiting key suppliers to improve manufacturing quality. [Extracted from the article]

Ryanair Holdings Plc, the Irish discount carrier, is launching an €800 million ($873 million) stock buyback as it benefits from a stronger cash position and aircraft delivery delays. The airline expects to complete its current €700 million share buyback by the end of this month and plans to ask shareholders to increase the buyback size to 15% of issued share capital. Ryanair is taking advantage of the delivery delays of Boeing Co. aircraft to extend shareholder returns, as the company has more financial resources available during a two-year period without new aircraft deliveries. Despite a recent loss of momentum due to reduced travel budgets, Ryanair has seen strong traffic growth and its stock rose 3.9% after the announcement. [Extracted from the article]

Ryanair Holdings Plc, an Irish discount carrier, is launching a new €800 million ($873 million) stock buyback program due to a stronger cash position and aircraft delivery delays. The airline expects to complete its current €700 million share buyback by the end of this month and plans to ask shareholders to increase the buyback size to 15% of issued share capital. Ryanair will have more financial resources available in the next two years due to a lack of new aircraft deliveries, allowing for extended shareholder returns. The company has been affected by Boeing's aircraft delivery delays but has seen strong traffic growth recently. [Extracted from the article]

Ryanair Holdings Plc, an Irish discount carrier, has announced that it will extend its buyback program with a new €800 million plan. This decision comes as the company experiences strong traffic growth and delivery delays of aircraft, which have positively impacted its spending plans. Ryanair expects to complete its current €700 million share buyback by the end of this month and will seek shareholder approval to increase the buyback size to as much as 15% of issued share capital at its next annual general meeting in September. [Extracted from the article]

Boeing's new CEO, Kelly Ortberg, plans to walk the main factory floor near Seattle on his first day and relocate to the city to rebuild trust with workers. Ortberg aims to be transparent with employees, sharing progress and areas for improvement. This commitment to Seattle is significant as his predecessor preferred to work remotely, and Boeing has moved its corporate headquarters multiple times. Ortberg, an engineer by training, is tasked with repairing Boeing's reputation, manufacturing processes, and finances. The company has faced significant challenges, including a cash burn of $4.33 billion in the second quarter and criticism of its manufacturing processes. Ortberg will work closely with Stephanie Pope, who leads Boeing's commercial aircraft business. [Extracted from the article]

British Airways parent company, IAG SA, has announced that it is abandoning its plan to acquire Air Europa for €400 million. This is the second time IAG has failed to take over the Spanish carrier due to regulatory opposition. The European Commission expressed concerns that the acquisition would negatively impact competition and increase fares for passengers. IAG will pay Air Europa's parent company, Globalia, a termination fee of €50 million and will retain a 20% minority equity stake in Air Europa. Despite this setback, IAG remains open to other acquisition opportunities, including potentially purchasing the state-owned airline TAP in Portugal. [Extracted from the article]

Lufthansa, the German airline group, has announced a savings program in response to overcapacity and declining ticket prices. As part of the program, Lufthansa plans to phase out around 50 older long-haul aircraft by 2028, including the Airbus A340-300, A340-600, Boeing 747-400, and Airbus A330-200. The company also aims to improve its network to align with seasonal demand. Lufthansa predicts a drop in ticket prices and an increase in unit costs for the third quarter, with capacity reaching 96% of pre-crisis levels. The company plans to replace the older aircraft with Boeing's 787 Dreamliner and the delayed 777X. However, there is a risk of further delays. Lufthansa's second-quarter revenue increased by 7% to €10 billion, but adjusted earnings before interest and tax fell to €686 million. The company expects reaching break-even at its core division to be increasingly challenging this year. [Extracted from the article]

Lufthansa, the German airline group, has announced a savings program in response to overcapacity issues that are affecting ticket prices. As part of the program, Lufthansa plans to phase out around 50 older long-haul aircraft by 2028, including the Airbus A340-300, A340-600, Boeing 747-400, and Airbus A330-200. The company also aims to improve its network to align with seasonal demand. Lufthansa predicts a drop in ticket prices and an increase in unit costs for the third quarter, and it has lowered its profit goal due to higher costs and customer reluctance following strikes earlier this year. Despite second-quarter revenue growth, the company expects to face challenges in reaching breakeven and achieving adjusted free cash flow targets. [Extracted from the article]

FlyDubai, a low-cost airline based in Dubai, has announced that it will not be receiving any new Boeing aircraft this year. This revision of the delivery schedule has disrupted the airline's expansion plans. FlyDubai is now reevaluating its route development and potential frequency changes due to the lack of new planes. The delay in aircraft delivery is a result of Boeing's manufacturing crisis, which has led to a reduction in output to address manufacturing issues following a serious accident earlier this year. FlyDubai has called on Boeing to fulfill its delivery obligations. [Extracted from the article]

German electric aircraft company, Lilium NV, is assembling its first commuter jet with plans for commercial service in 2026. Co-founder Daniel Wiegand is already looking ahead to a larger battery-powered model that could carry up to 100 passengers. Lilium aims to double the range of its aircraft by 2045. The company's design sets it apart from other electric vertical take-off and landing (eVTOL) models, and it adheres to a safety standard typically reserved for large commercial aircraft. Lilium recently secured a deal with Saudi Arabia's state-owned airline for up to 100 units, and is in negotiations with the German and French governments for additional funding. [Extracted from the article]

Deutsche Lufthansa AG has lowered its profit outlook for the year due to higher unit costs and falling ticket prices. The airline now expects adjusted operating profit to be between €1.4 billion and €1.8 billion, down from a previous guidance of about €2.2 billion. Lufthansa plans to implement a comprehensive turnaround program to address these challenges. The airline's stock has declined by about 29% this year. [Extracted from the article]

Deutsche Lufthansa AG has lowered its profit outlook for the year due to higher costs and declining ticket prices. The airline now expects adjusted operating profit to be between €1.4 billion and €1.8 billion, down from the previous guidance of around €2.2 billion. Lufthansa also anticipates adjusted cash flow to be significantly less than €1 billion. The company plans to implement a comprehensive turnaround program in response to these challenges. This revision marks the second earnings downgrade for Lufthansa this year. [Extracted from the article]

Lilium NV, a flying taxi startup, is on the verge of finalizing a deal to sell 100 electric flying taxis to Saudi Arabia's state-owned airline. The agreement, which was arranged in late 2022, is expected to be announced at an upcoming event at Lilium's headquarters near Munich. The company's aircraft, featuring small ducted fans and two pairs of wings, is set to begin flying in 2026. Lilium's stock rose 2.7% following the news. [Extracted from the article]

Boeing's recent deals with US prosecutors and a key supplier have intensified the focus on finding a new CEO to lead the company. The acquisition of Spirit AeroSystems Holdings Inc. and the agreement with the US Justice Department to plead guilty to a conspiracy charge related to the 737 Max crashes provide some clarity for the incoming CEO. However, there are still significant challenges ahead, including getting operations at Spirit back on track and dealing with the financial strain on Boeing. The plea agreement has also faced criticism from crash victims' families and their attorneys, who believe it does not hold Boeing accountable enough. The next CEO will also need to address Boeing's defense, space, and security business, as well as the company's cash burn and production issues. The board is currently searching for a successor to current CEO Dave Calhoun, with potential candidates including Spirit AeroSystems CEO Pat Shanahan. [Extracted from the article]

Southwest Airlines has implemented a rights plan in response to activist investor Elliott Investment Management acquiring a stake in the company. The plan, which will last for one year, involves issuing one right for each share of common stock. These rights will only become exercisable if any person or group acquires 12.5% or more of the common stock. Southwest stated that adopting the rights plan is a prudent move to fulfill its fiduciary duties to all shareholders. Elliott currently holds an economic interest of approximately 11% in the airline. [Extracted from the article]

Qatar Airways is facing pressure on airfares due to increased capacity from competitors in southeast Asia and Australia, as well as a moderation in the post-pandemic travel rebound. The airline's Chief Commercial Officer, Thierry Antinori, stated that while the seat factor remains high, there is pressure on yields due to the excess capacity in the market. The pressure is particularly noticeable in eastbound business from Doha, while operations into the western hemisphere and Africa remain stable. Qatar Airways continues to perform well in its cargo operations and recently achieved its strongest financial performance in its history. The airline is also seeking to expand its presence in Germany and Australia, and is in talks to acquire a stake in Virgin Australia Airlines. Additionally, Saudi Arabia is building a new airline that aims to compete with Qatar Airways and Emirates, but Antinori is not concerned about losing regional business to the startup. [Extracted from the article]

Air France-KLM has warned of a revenue shortfall at its French operations this summer due to passengers avoiding Paris during the Olympic Games. The airline group expects a revenue decrease of €160 million to €180 million from June to August. French residents are postponing holidays until after the Olympics, while international customers are staying away. Despite this, Air France is optimistic about travel returning to normal after the games and is seeing encouraging demand for the end of August and September. [Extracted from the article]

Air France-KLM is expecting a decrease in revenue this summer due to passengers avoiding Paris during the Olympic Games to avoid disruptions and high prices. The projected revenue loss for the period between June and August is estimated to be between €160 million ($172 million) and €180 million. However, the company is optimistic about demand for the end of August and September. Despite this setback, Air France and Transavia have added extra capacity for flights to Paris, along with other airlines such as Ryanair. [Extracted from the article]

Air France-KLM has reported a decrease in projected unit revenue for the summer season due to passengers avoiding Paris during the Olympic Games to avoid disruptions and high prices. This is expected to result in a loss of €160 million to €180 million in revenue between June and August. However, the company does not anticipate a decrease in guided capacity. The airline expects travel to and from France to return to normal after the Olympics, and is seeing positive demand for the end of August and September. [Extracted from the article]

Emirates, the world's largest international airline, has announced that its planned service to various destinations will be delayed due to aircraft delays. The airline had planned to deploy its new fleet of Airbus A350 aircraft starting in September, but this has now been pushed back to early November. The delay is a result of Airbus cutting back its aircraft delivery target and facing strained supply chains. Emirates has ordered more than 100 units of the delayed Boeing 777X model, which it aims to receive in mid-2025. [Extracted from the article]

Airbus SE, the world's largest planemaker, is facing a shortage of parts for its commercial aircraft, including engines, aerostructures, and cabin interiors. This shortage is impacting the company's delivery plans and has led to a reduction in its long-term goals, such as operating profit and cash generation. The challenges faced by Airbus and its rival Boeing are due to a stretched supply chain, which has been exacerbated by the pandemic. Airbus now expects to deliver 770 aircraft in 2024 instead of the previously planned 800 units. The company's shares fell following the announcement. [Extracted from the article]

Airbus SE, the world's largest planemaker, is facing a shortage of parts for its commercial aircraft, including engines, aerostructures, and cabin interiors. This shortage is impacting the company's delivery plans and has led to a reduction in its annual goals, including operating profit and cash generation. The challenges faced by Airbus and its rival Boeing are due to a stretched supply chain, which has been exacerbated by the pandemic. Airbus now expects to deliver 770 aircraft in 2024 instead of the previously planned 800 units. The company has also pushed back its goal to produce 75 A320 jets per month to 2027. The shortage of parts is attributed to airlines refurbishing older planes, causing delays in shipments to Airbus. The CEO of Airbus, Guillaume Faury, has warned that the supply issues may persist for the next 2-3 years due to economic and geopolitical challenges. The engine issues on the A320 model have also worsened in recent weeks. Despite these challenges, Airbus shares have gained 6% this year, while Boeing has experienced a 31% loss in value. [Extracted from the article]

Airbus SE has lowered its earnings and aircraft-delivery targets for the year due to ongoing supply-chain issues. The company now expects to deliver 770 aircraft this year, down from its previous goal of 800. Airbus has been grappling with supply-chain problems and a shortage of skilled workers since the pandemic disrupted the aviation industry. The company also reduced its adjusted earnings and free cash flow outlook. Additionally, Airbus pushed back its goal to produce 75 A320 jets per month to 2027. The company cited economic and geopolitical challenges as contributing factors to the supply-chain issues. [Extracted from the article]

Airbus SE has reduced its annual aircraft delivery target from 800 to 770 due to ongoing supply chain issues. The company also lowered its adjusted earnings before interest and tax forecast to €5.5 billion, down from a previous goal of €7 billion. Additionally, Airbus pushed back its goal to produce 75 A320 single-aisle jets per month to 2027. The company is also in talks to acquire parts of Spirit AeroSystems Holdings Inc.'s business. Airbus will release its full half-year results on July 30, 2024. [Extracted from the article]

Rheinmetall AG, a defense contractor, has received an €8.5 billion ($9.1 billion) order to supply artillery ammunition to the German army. This is the largest contract in the company's history and comes as governments seek to bolster their stockpiles in support of Ukraine's defense against Russia's invasion. The order includes 155 millimeter caliber projectiles in various versions, with delivery scheduled to begin next year. Germany will be the primary buyer of the ammunition and will also supply Ukraine, while the Netherlands, Estonia, and Denmark will participate in the order. Rheinmetall's stock rose after the announcement, and the company plans to produce the ammunition components in Germany, aiming to eventually double its production capacity. [Extracted from the article]

Spirit AeroSystems Holdings Inc. has appointed Irene Esteves as its new chief financial officer, replacing Mark Suchinski. The move comes as Boeing Co. seeks to acquire the aerospace supplier. Spirit AeroSystems is a crucial supplier for Boeing, manufacturing major parts of the 737 aircraft. Boeing's plans to buy back Spirit AeroSystems have been prompted by a near-catastrophic accident caused by faulty workmanship. The transaction is complex due to Spirit AeroSystems also producing key parts for Airbus SE, Boeing's main competitor. [Extracted from the article]

The International Air Transport Association (IATA) predicts that the global airline industry will generate $30.5 billion in net income in 2024, surpassing last year's profit of $27.4 billion. This increase is attributed to higher ticket prices and a continued desire to travel following the pandemic. However, expenses are also rising, limiting earnings per passenger. The aviation industry has rebounded from the pandemic, but still faces challenges such as the lack of sustainable aviation fuel, strained business with China, and geopolitical tensions affecting routes. North America is expected to contribute the most to industry profits, followed by Europe and the Middle East. International travel in Asia remains subdued, but there is potential for future growth. [Extracted from the article]

Dubai is shifting its focus from being a transfer hub to attracting more repeat visitors. The city is looking to increase airline capacity and has introduced a new visa that allows for multiple entries over five years. Dubai is targeting regions like Africa and is promoting itself as a year-round destination with sports and indoor shopping. The city has managed to establish itself as a unique destination, separate from other regional competitors. Despite challenges in the region, Dubai has continued to attract tourists and broke its 2019 record for visitor numbers last year. [Extracted from the article]

Deutsche Lufthansa AG has announced that Till Streichert will be the new chief financial officer, replacing Remco Steenbergen who recently left the company. Streichert, who previously worked at Amadeus IT Holding SA, will begin his role in mid-September. Lufthansa is currently facing challenges with strikes and is in the process of acquiring ITA Airways. In the meantime, Michael Niggemann will serve as interim head of the finance department until Streichert assumes his position. [Extracted from the article]

Lilium NV, an aviation company, has received an order for 20 electric jets from UrbanLink, a startup aiming to introduce electric aerial commuting in southern Florida. The purchase agreement includes an option for an additional 20 units and pre-delivery payments. UrbanLink plans to integrate the Lilium jets into its existing fleet of conventional aircraft. Lilium is currently assembling its first jet and hopes to conduct piloted test flights later this year. The financial details of the transaction were not disclosed. Lilium and another German eVTOL company, Volocopter GmbH, are seeking additional funds as they await certification and commercial operations of their aircraft. [Extracted from the article]

Deutsche Lufthansa AG, Europe's largest carrier, is implementing cost-cutting measures at its namesake airline business due to persistent strikes in Germany. The airline reported a €640 million loss in the first quarter and has revised its earnings outlook for the year. Lufthansa plans to freeze projects, review hiring in certain areas, and reduce capacity outlook for 2024. Strike costs are expected to continue impacting sales in the second quarter, but the airline anticipates stronger bookings in the second half of the year. [Extracted from the article]

Air China has announced plans to purchase 100 Comac C919 airliners, a move that challenges the duopoly of Airbus and Boeing in the commercial aircraft market. The agreement is valued at $10.8 billion and deliveries will begin this year and continue until 2031. The C919, which is similar in size to the Airbus A320 and Boeing 737, is expected to gain market share in the next decade as Airbus and Boeing face high demand for their popular models. While the success of the C919 globally is uncertain, Chinese airlines have already placed over 1,000 orders for the aircraft. [Extracted from the article]

Electrolux AB, a Swedish appliance maker, saw its shares jump in Stockholm trading after reporting better-than-expected earnings and announcing that its CEO, Jonas Samuelson, will be leaving next year. The company reported an operating loss of 720 million kronor ($66 million) in the first quarter, beating analyst estimates. However, Electrolux also noted that pricing pressure and weak demand in Europe and North America continue to pose challenges. Under Samuelson's leadership, the company implemented cost-cutting measures, including job cuts, but has still faced difficulties in the North American market. [Extracted from the article]

Indian budget carrier IndiGo has placed an order for 30 Airbus A350-900 aircraft, signaling its entry into the longhaul market and its aim to compete with Air India. The airline also has the option to purchase an additional 70 Airbus A350 family aircraft in the future. This move follows IndiGo's previous record-breaking order for 500 A320neo family aircraft, making it one of Airbus's largest customers. [Extracted from the article]

Emirates, the world's largest airline group, is facing challenges in clearing a backlog of rebooked passengers and stranded bags after heavy rainfall caused chaos in Dubai. The airline had to temporarily halt check-in and cancel nearly 400 flights due to the floods. Emirates has created a task force to help sort and deliver the approximately 30,000 pieces of baggage left behind at the airport. The airline has apologized for the disruptions and is working to accommodate affected customers by booking hotel rooms and providing meal vouchers. [Extracted from the article]

Lufthansa has reached a wage agreement with its cabin crew, putting an end to months of negotiations and strikes. The deal includes a 16.5% wage increase over 36 months, a €3,000 bonus, and other concessions such as additional pay for higher-level employees and increased vacation pay. The agreement is valid until at least the end of 2026 and will protect Lufthansa from strikes. This resolution comes after a period of acrimonious battles between the airline and its workers, with Lufthansa initially resisting the demands due to the fragile state of the industry post-pandemic. Germany has experienced strikes not only at Lufthansa but also at train operators, causing disruptions in air and rail travel. Lufthansa's shares have dropped this year, making it the worst-performing European airline on the Bloomberg World Airlines Index. [Extracted from the article]

Deutsche Lufthansa AG has experienced strike-related costs of 250 million euros ($271 million) since the beginning of the year due to walk-offs by workers. The strikes have led to the loss of prospective passengers and disruptions in operations, including the cancellation of the Frankfurt-San Francisco service for a week. Customers are now more cautious with bookings and are avoiding Frankfurt and Munich as transfer hubs to avoid being affected by the strikes. Lufthansa's Chief Financial Officer, Remco Steenbergen, expressed the need for more reliability and stated that the airline cannot afford to have industrial disputes at the expense of customers or long-term competitiveness. The financial fallout from the strikes exceeds the previously disclosed figure of 100 million euros. Lufthansa has been in conflicts with labor unions over pay and has called in a mediator to resolve the disruptions, especially with the busy Easter travel season approaching. The situation has been further complicated by protests at Deutsche Bahn AG, the German national railway. Steenbergen has announced his departure from Lufthansa and will join Sandoz AG as finance chief later this year. The airline's stock has declined by 15% this year, making it the worst performer in the Bloomberg World Airlines Index. Lufthansa expects its first-quarter losses to increase due to the labor strikes. [Extracted from the article]

Rolls-Royce Holdings Plc has regained its investment-grade credit rating with Standard & Poor's, marking the first time in nearly four years. The UK aircraft engine manufacturer has been undergoing a turnaround under CEO Tufan Erginbilgic, which has been viewed favorably by investors. The company's operating performance in 2023 exceeded expectations, leading to improved free cash flow and a reduction in debt. S&P anticipates that Rolls-Royce's positive momentum will continue in 2024, with the civil aerospace sector and defense business offering long-term visibility. The company's stock has performed well, more than tripling in value in 2023 and advancing about 32% in 2021. [Extracted from the article]

Deutsche Lufthansa AG, Europe's largest airline group, has announced that its earnings will not advance in 2024 due to disruptions from labor strikes and the decline in cargo demand after the pandemic. The strikes in January and February alone cost the company at least €100 million and disrupted hundreds of thousands of passenger journeys. Lufthansa is still aiming to maintain its 8% operating margin target for 2024, but the first-quarter walkouts could impact full-year results. The company is also facing challenges in completing the purchase of a stake in ITA Airways, the Italian successor to Alitalia. [Extracted from the article]

Deutsche Lufthansa AG, Europe's largest airline group, has announced that its earnings will not advance in 2024 and that the first-quarter loss will be wider than last year. The company is facing disruptions from labor strikes and a decline in cargo demand that occurred during the pandemic. Lufthansa has experienced waves of strikes and labor disputes, with employees demanding a greater share of profits. The airline is also working on acquiring a stake in ITA Airways, the Italian successor to Alitalia. Despite these challenges, Lufthansa expects overall revenue to increase significantly, with stable or slightly lower unit revenue at the passenger airlines. [Extracted from the article]

Deutsche Lufthansa AG, Europe's largest airline group, has announced that its earnings will not grow in 2024 due to strike disruptions and the decline of the cargo boom caused by the pandemic. The company reported adjusted earnings before interest and tax of €2.68 billion for last year, with an operating margin close to its target. Lufthansa is also facing labor disputes as employees demand a greater share of profits. The airline is still working on acquiring a stake in ITA Airways, the Italian successor to Alitalia, and expects approval of the deal this year. Despite the challenges, Lufthansa anticipates continued demand for tickets, particularly to Mediterranean countries and North American routes. The company has also faced maintenance issues with its Airbus A320 model and has placed an order for Boeing's 737 Max model to diversify its fleet. Lufthansa's capacity growth may be slower this year due to geopolitical tensions and lower corporate travel. The airline recently underwent a management board shakeup, with four members departing, including the Chief Financial Officer. [Extracted from the article]

Qatar Airways is experiencing strong demand as travel numbers increase after the pandemic, but customers are becoming more discerning in their bookings. Chief Commercial Officer Thierry Antinori stated that passengers are now more selective and cautious about the quality and value of their purchases. This trend is expected to benefit strong airlines and create a wider gap between them and "second tier" carriers. Qatar Airways has seen a 31% increase in traffic in the first two months of this year, but its access to Australia is restricted due to a rejected request to operate more routes. The airline is looking to expand to other destinations such as Mauritius and South Korea. [Extracted from the article]

Emirates President Tim Clark expressed his support for Boeing's leadership amidst the company's crisis of confidence following a near-catastrophic accident. Clark believes that Boeing understands what needs to be fixed and that the reintegration of a key supplier is a positive step. He emphasized the urgency of the situation and stated that Boeing needs to prioritize quality and address its manufacturing issues. Clark also discussed the need for Rolls-Royce to improve the performance of its engine that powers the Airbus A350-1000 and suggested that Airbus should consider stretching the A350-1000 model to better compete with the Boeing 777-9 widebody. [Extracted from the article]

Emirates President Tim Clark expressed his support for Boeing's leadership as the company faces a crisis of confidence following a serious accident in January. Clark believes that Boeing understands what needs to be fixed and sees the reintegration of a key supplier as a positive step. He emphasized the urgency of addressing the issues and suggested that Boeing should review its governance model and seek assistance from third parties with engineering expertise. Clark, a significant customer of Boeing, believes that CEO Dave Calhoun and other leaders should be given a chance to make the necessary fixes. [Extracted from the article]

Qatar Airways has experienced a 31% increase in traffic during the first two months of the year due to expanding its network and adding new destinations. The airline is increasing frequencies to 15 global destinations, including Berlin, and is leveraging its position as a connecting airline with its hub in Doha. Qatar Airways will also add Hamburg to its destinations in Germany, providing access to Europe's largest economy. The airline has resolved a legal dispute with Airbus and all of its A350s are back in operation. [Extracted from the article]

The article reports on the fate of the electronic payment company Wirecard. It mentions the chief operating officer Jan Marsalek's disappearance after evidence of accounting fraud was revealed, how the fraudulent activities functioned, and the question of who else may be involved.