Stock: Boeing (BA)News: Past 4 yearsAnnouncementsPress Releases Dec 31, 2023: Boeing: File SEC Form 10-K - Management's Discussion and Analysis 10-K Management's Discussion and Analysis of Financial Condition and Results of Operations Consolidated Results of Operations and Financial Condition Overview We are a global market leader in the design, development, manufacture, sale, service and support of commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems and services. We are one of the two major manufacturers of 100+ seat airplanes for the worldwide commercial airline industry and one of the largest defense contractors in the U.S. While our principal operations are in the U.S., we conduct operations in an expanding number of countries and rely on an extensive network of non-U.S. partners, key suppliers and subcontractors. Our strategy is centered on successful execution in healthy core businesses - Commercial Airplanes (BCA), Defense, Space & Security (BDS) and Global Services (BGS). BCA is committed to being the leader in commercial aviation by offering airplanes and services that deliver superior design, safety, quality, efficiency and value to customers around the world. BDS integrates its resources in defense, intelligence, communications, security, space and services to deliver capability-driven solutions to customers at reduced costs. Our BDS strategy is to leverage our core businesses to capture key next-generation programs while expanding our presence in adjacent and international markets. BGS provides support for commercial and defense through innovative, comprehensive and cost-competitive product and service solutions. Business Environment and Trends In 2023, global air traffic largely recovered to 2019 levels with domestic travel continuing to be the most robust and the single-aisle market following closely. International travel has mostly recovered and the wide-body market continues to be paced by the international travel recovery. The transition in the international commercial market from recovery to normal market conditions is progressing slowly as China international travel remains below 2019 levels. We are experiencing strong demand from our airline customers globally. We and our suppliers are experiencing supply chain disruptions as a result of production quality issues, global supply chain constraints, and labor instability. We and our suppliers are also experiencing inflationary pressures. We continue to monitor the health and stability of the supply chain. These factors have reduced overall productivity and adversely impacted our financial position, results of operations and cash flows. Airline financial performance, which influences demand for new capacity, has benefited from the resilient demand for travel. The International Air Transport Association (IATA) is estimating 2023 industry-wide profit of $23.3 billion, up from its forecast of $4.6 billion a year ago, primarily driven by North America, Europe and the Middle East. For 2024, IATA is forecasting $25.7 billion in profits for the industry globally. The overall outlook continues to stabilize as we face uncertainties in the environment in the near- to medium-term as airlines are facing persistently high and volatile cost of fuel and tight labor conditions. The global economy is expecting an easing of inflation and interest rates, with regional economic and geopolitical difficulties adding uncertainty to the outlook and the financial viability of some airlines and regions. The long-term outlook for the industry remains positive due to the fundamental drivers of air travel demand: economic growth, increasing propensity to travel due to increased trade, globalization and improved airline services driven by liberalization of air traffic rights between countries. Our Commercial Market Outlook forecast projects a 3.5% growth rate in the global fleet over a 20-year period. Based on long-term global economic growth projections of 2.6% in average annual gross domestic product, we project demand for approximately 42,595 new airplanes over the next 20 years. The industry remains vulnerable to exogenous developments including fuel price spikes, credit market shocks, acts of terrorism, natural disasters, conflicts, epidemics, pandemics and increased global environmental regulations. At BDS, we continue to see stable demand reflecting the important role our products and services have in ensuring our national security. Outside of the U.S., we are seeing similar solid demand as governments prioritize security, defense technology and global cooperation given evolving threats. We continue to experience production disruptions and inefficiencies due to technical challenges, supplier disruption and factory performance. These factors have contributed to significant earnings charges on fixed-price development programs as well as on a number of mature programs which are continuing to adversely affect margins and cash flows. At BGS, we expect commercial revenues to remain strong in future quarters as the commercial airline industry has largely recovered and transitions to growth. The demand outlook for our government services business remains stable. Consolidated Results of Operations (1)These measures exclude certain components of pension and other postretirement benefit expense. See pages 43 - 45 for important information about these non-GAAP measures and reconciliations to the most directly comparable GAAP measures. Revenues Revenues increased by $11,186 million in 2023 compared with 2022 driven by higher revenues at all three operating segments. BCA revenues increased by $7,875 million primarily driven by higher 787 deliveries. BDS revenues increased by $1,771 million primarily due to higher revenues on fixed-price development programs. BGS revenues increased by $1,516 million primarily due to higher commercial services revenue driven by market recovery across the commercial portfolio. Revenues increased by $4,322 million in 2022 compared with 2021 driven by higher revenues at BCA and BGS, partially offset by lower revenues at BDS. BCA revenues increased by $6,312 million primarily driven by higher 737 and 787 deliveries. BGS revenues increased by $1,283 million primarily due to higher commercial services volume, partially offset by lower government services volume and performance. BDS revenues decreased by $3,378 million primarily due to charges on fixed-price development programs, unfavorable performance across other defense programs, and lower P-8 and weapons volume. Revenues will continue to be significantly impacted until the global supply chain stabilizes, labor instability diminishes, and deliveries ramp up. Loss From Operations (1) The FAS/CAS service cost adjustment represents the difference between the FAS pension and postretirement service costs calculated under GAAP and costs allocated to the business segments. (2) Core operating loss is a non-GAAP measure that excludes the FAS/CAS service cost adjustment. See pages 43 - 45. Loss from operations decreased by $2,746 million in 2023 compared with 2022. BDS loss from operations decreased by $1,780 million compared to the same period in 2022, primarily due to a reduction in net unfavorable cumulative contract catch-up adjustments, which were $2,328 million better than the net unfavorable impact in the prior year. BCA loss from operations decreased by $706 million reflecting higher deliveries and lower period expenses including lower abnormal production costs, partially offset by higher spending on research and development. BGS earnings from operations increased by $602 million in 2023 compared with 2022 primarily due to higher commercial services revenue. Loss from operations on Unallocated items, eliminations and other increased by $255 million in 2023 primarily due to higher deferred compensation expense. Loss from operations increased by $649 million in 2022 compared with 2021. BDS had a loss from operations of $3,544 million compared with earnings of $1,544 million during 2021, primarily due to charges on development programs. BCA loss from operations decreased by $4,036 million primarily due to the absence in 2022 of the $3,460 million reach-forward loss taken on the 787 program in 2021, higher 737 deliveries and lower abnormal production costs, partially offset by higher research and development spending, charges related to the war in Ukraine and other period expenses. BGS earnings from operations increased by $710 million in 2022 compared with 2021 primarily due to higher commercial services volume and favorable mix, partially offset by lower government services performance. Core operating loss decreased by $2,833 million in 2023 compared with 2022 and increased by $619 million in 2022 compared with 2021 primarily due to changes in Segment operating loss as described above. Unallocated Items, Eliminations and Other The most significant items included in Unallocated items, eliminations and other (expense)/income are shown in the following table: Share-based plans expense decreased by $176 million in 2023 and $60 million in 2022, primarily due to fewer share-based grants and the timing of corporate allocations in 2023. The lower expense in 2022 compared to 2021 was due to decreased grants of restricted stock units (RSUs) and other share-based compensation. Deferred compensation expense increased by $305 million in 2023, and decreased by $243 million in 2022, primarily driven by changes in broad stock market conditions. Research and development expense increased by $37 million in 2023 and increased by $94 million in 2022 primarily due to spending on enterprise product development. Eliminations and other unallocated items was largely unchanged in 2023. Eliminations and other unallocated expense increased by $498 million in 2022 primarily due to a $200 million settlement with the Securities and Exchange Commission related to the 737 MAX accidents, lower income from operating investments and an increase in environmental remediation expense. Net periodic pension benefit costs included in Loss from operations were as follows: The pension FAS/CAS service cost adjustment recognized in Loss from operations in 2023 decreased by $50 million compared with 2022 and decreased by $33 million in 2022 compared with 2021 due to changes in allocated pension cost year over year. Net periodic benefit cost included in Loss from operations in 2023 was largely consistent with 2022 and 2021. For additional discussion related to Postretirement Plans, see Note 16 to our Consolidated Financial Statements. Non-operating pension income included in Other income, net was $529 million in 2023, $881 million in 2022 and $528 million in 2021. The decreased income in 2023 compared to 2022 was primarily due to higher interest cost and lower expected return on plan assets, partially offset by lower amortization of net actuarial losses. The increased income in 2022 compared to 2021 was primarily due to lower amortization of net actuarial losses in 2022 and a settlement loss recorded in 2021. Non-operating postretirement income included in Other income, net was $58 million in 2023 and 2022, and $1 million in 2021. The increased income in 2022 was due to lower amortization of net actuarial losses. Interest and debt expense decreased by $102 million in 2023 and $153 million 2022 primarily due to lower average debt balances. For additional discussion related to Income Taxes, see Note 4 to our Consolidated Financial Statements. Total Costs and Expenses ("Cost of Sales") Cost of sales, for both products and services, consists primarily of raw materials, parts, sub-assemblies, labor, overhead and subcontracting costs. Our BCA segment predominantly uses program accounting to account for cost of sales. Under program accounting, cost of sales for each commercial aircraft program equals the product of (i) revenue recognized in connection with customer deliveries and (ii) the estimated cost of sales percentage applicable to the total remaining program. For long-term contracts, the amount reported as cost of sales is recognized as incurred. Substantially all contracts at our BDS segment and certain contracts at our BGS segment are long-term contracts with the U.S. government and other customers that generally extend over several years. Cost of sales for commercial spare parts is recorded at average cost. Cost of sales increased by $6,992 million in 2023 compared with 2022, primarily due to higher revenues at BCA and BGS, partially offset by lower development charges at BDS. Cost of sales as a percentage of Revenues decreased in 2023 compared to 2022 primarily due to lower charges on BDS development programs. Cost of sales increased by $3,841 million in 2022 compared with 2021, primarily due to charges recorded at BDS and higher revenues at BCA. Cost of sales as a percentage of Revenues remained largely consistent in 2022 compared to 2021. Research and Development Research and development expense increased by $525 million in 2023 compared with 2022 primarily due to higher research and development expenditures on the 777X program as well as other BCA and enterprise investments in product development. Research and development expense increased by $603 million in 2022 compared with 2021 primarily due to higher research and development expenditures on 777X, 737 MAX, as well as BCA and enterprise investments in product development. Backlog Contractual backlog of unfilled orders excludes purchase options, announced orders for which definitive contracts have not been executed, orders where customers have the unilateral right to terminate, and unobligated U.S. and non-U.S. government contract funding. The increase in contractual backlog during 2023 was primarily due to increases in BCA and BDS backlog. If we are unable to deliver aircraft to customers in China consistent with our assumptions, and/or entry into service of the 777X, 737-7 and/or 737-10 is further delayed, we may experience reductions to backlog and/or significant order cancellations. Unobligated backlog includes U.S. and non-U.S. government definitive contracts for which funding has not been authorized. Unobligated backlog was largely unchanged in 2023. Additional Considerations U.S. Government Funding The Continuing Resolution enacted on January 19, 2024, continues federal funding at fiscal year 2023 appropriated levels through March 1, 2024, for selected departments and agencies, including the Department of Transportation, and through March 8, 2024, for the remaining departments and agencies, including the United States Department of Defense (U.S. DoD) and the National Aeronautics and Space Administration (NASA). Congress and the President must enact either full-year fiscal year 2024 (FY24) appropriations bills or an additional Continuing Resolution to fund government departments and agencies after these dates, or a partial or full government shutdown could result. U.S. government discretionary spending in FY24 and 2025 (FY25), including defense spending, was capped by the Fiscal Responsibility Act of 2023 (FRA). Additionally, a Continuing Resolution for FY24 or FY25 in place on April 30 of the relevant fiscal year, would trigger a sequester under the FRA. Global Trade We continually monitor the global trade environment in response to geopolitical economic developments, as well as changes in tariffs, trade agreements or sanctions that may impact the Company. The current state of U.S.-China relations remains an ongoing watch item. Since 2018, the U.S. and China have imposed tariffs on each other's imports. Certain aircraft parts and components that Boeing procures are subject to these tariffs. We are mitigating import costs through Duty Drawback Customs procedures. China is a significant market for commercial aircraft and we have long-standing relationships with our Chinese customers, who represent a key component of our commercial aircraft backlog. Overall, the U.S.-China trade relationship remains stalled as economic and national security concerns continue to be a challenge. Beginning in June 2018, the U.S. Government imposed tariffs on steel and aluminum imports. In response to these tariffs, several major U.S. trading partners have imposed, or announced their intention to impose, tariffs on U.S. goods. The U.S. has subsequently reached agreements with Mexico, Canada, Japan, the United Kingdom, and the European Union, to ease or remove tariffs on steel and/or aluminum. We continue to monitor the potential for any extra costs that may result from the remaining global tariffs. We are complying with all U.S. and other government export control restrictions and sanctions imposed on certain businesses and individuals in Russia. We continue to monitor and evaluate additional sanctions and export restrictions that may be imposed by the U.S. Government or other governments, as well as any responses from Russia that could affect our supply chain, business partners or customers, for any additional impacts to our business. Supply Chain We and our suppliers are experiencing supply chain disruptions as a result of global supply chain constraints and labor instability. We and our suppliers are also experiencing inflationary pressures. We continue to monitor the health and stability of the supply chain. These factors have reduced overall productivity and adversely impacted our financial position, results of operations and cash flows. The current conflict in Israel and the Gaza Strip has the potential to impact certain of our suppliers, and has impacted some operations for our airline and lessor customers. We are closely monitoring developments, supporting our employees and customers, and will take mitigating actions as appropriate. Segment Results of Operations and Financial Condition Commercial Airplanes Business Environment and Trends Airline Industry Environment See Overview to Management's Discussion and Analysis of Financial Condition and Results of Operations for a discussion of the airline industry environment. Industry Competitiveness The commercial aircraft market and the airline industry both remain extremely competitive. Continued access to global markets remains vital to our ability to fully realize our sales potential and long-term investment returns. Approximately 78% of BCA's total backlog, in dollar terms, is with non-U.S. airlines. We face aggressive international competitors who are intent on increasing their market share. They offer competitive products and have access to most of the same customers and suppliers. With government support, Airbus has historically invested heavily to create a family of products to compete with ours. After the acquisition of a majority share of Bombardier's C Series (now A220) in 2018, Airbus continues to expand in the 100-150 seat transcontinental market. Other competitors are also in different phases of developing commercial jet aircraft, including Commercial Aircraft Corporation of China, Ltd. (COMAC), which delivered its first C919 aircraft in 2022. Some of these competitors have historically enjoyed access to government-provided financial support, including "launch aid," which greatly reduces the cost and commercial risks associated with airplane development activities. This has enabled the development of airplanes without broad commercial viability; others to be brought to market more quickly than otherwise possible; and many offered for sale below market-based prices. Competitors continue to make improvements in efficiency, which may result in funding product development, gaining market share and improving earnings. This market environment has resulted in intense pressures on pricing and other competitive factors, and we expect these pressures to continue or intensify in the coming years. Results of Operations (Dollars in millions) Revenues BCA revenues increased by $7,875 million in 2023 compared with 2022 primarily due to higher 787 deliveries in 2023. BCA revenues increased by $6,312 million in 2022 compared with 2021 primarily due to higher 737 and 787 deliveries in 2022. BCA deliveries, including intercompany deliveries, as of December 31 were as follows: * Intercompany deliveries identified by parentheses Loss From Operations BCA loss from operations was $1,635 million in 2023 compared with $2,341 million in 2022 reflecting higher deliveries and lower period expenses including lower abnormal production costs, partially offset by higher spending on research and development. Abnormal production costs in 2023 were $1,527 million, including $1,014 million related to the 787 program and $513 million related to the 777X program. Abnormal production costs in 2022 were $1,753 million, including $1,240 million related to the 787 program, $325 million related to the 777X program, and $188 million related to the 737 program. BCA loss from operations was $2,341 million in 2022 compared with $6,377 million in 2021. The 2021 loss includes a reach-forward loss on the 787 program of $3,460 million. The improved performance in 2022 also reflects higher 737 deliveries and lower abnormal production costs, partially offset by higher research and development spending, charges related to the war in Ukraine and other period expenses. Abnormal production costs in 2021 were $2,355 million, including $1,887 million related to the 737 program and $468 million related to the 787 program. Backlog Our total backlog represents the estimated transaction prices on unsatisfied and partially satisfied performance obligations to our customers where we believe it is probable that we will collect the consideration due and where no contingencies remain before we and the customer are required to perform. Backlog does not include prospective orders where customer-controlled contingencies remain, such as the customer receiving approval from its board of directors, shareholders or government or completing financing arrangements. All such contingencies must be satisfied or have expired prior to recording a new firm order even if satisfying such conditions is highly probable. Backlog excludes options and Boeing customer financing orders as well as orders where customers have the unilateral right to terminate. A number of our customers may have contractual remedies, including rights to reject individual airplane deliveries if the actual delivery date is significantly later than the contractual delivery date. We address customer claims and requests for other contractual relief as they arise. The value of orders in backlog is adjusted as changes to price and schedule are agreed to with customers and is reported in accordance with the requirements of Accounting Standards Codification (ASC) 606. BCA total backlog of $440,507 million at December 31, 2023 increased from $329,824 million at December 31, 2022, reflecting new orders in excess of deliveries and a decrease in the value of existing orders that in our assessment do not meet the accounting requirements of ASC 606 for inclusion in backlog, partially offset by order cancellations. Aircraft order cancellations during the year ended December 31, 2023 totaled $12,925 million and primarily relate to 737 and 777X aircraft. The net ASC 606 adjustments for the year ended December 31, 2023 resulted in an increase to backlog of $20,605 million primarily due to a net decrease of 777X and 737 aircraft. ASC 606 adjustments include consideration of aircraft orders where a customer-controlled contingency may exist, as well as an assessment of whether the customer is committed to perform, impacts of geopolitical events or related sanctions, or whether it is probable that the customer will pay the full amount of consideration when it is due. If we are unable to deliver aircraft to customers in China consistent with our assumptions, and/or entry into service of the 777X, 737-7 and/or 737-10 is further delayed, we may experience reductions to backlog and/or significant order cancellations. Accounting Quantity The accounting quantity is our estimate of the quantity of airplanes that will be produced for delivery under existing and anticipated contracts. The determination of the accounting quantity is limited by the ability to make reasonably dependable estimates of the revenue and cost of existing and anticipated contracts. It is a key determinant of the gross margins we recognize on sales of individual airplanes throughout a program's life. Estimation of each program's accounting quantity takes into account several factors that are indicative of the demand for that program, including firm orders, letters of intent from prospective customers and market studies. We review our program accounting quantities quarterly. The accounting quantity for each program may include units that have been delivered, undelivered units under contract and units anticipated to be under contract in the reasonable future (anticipated orders). In developing total program estimates, all of these items within the accounting quantity must be considered. Boeing customer financing aircraft orders are identified in parentheses. Program Highlights 737 Program The accounting quantity for the 737 program increased by 800 units during 2023 due to the program's normal progress of obtaining additional orders and delivering airplanes. We are currently producing at a rate of 38 per month. On January 5, 2024, an Alaska Airlines 737-9 flight made an emergency landing after a mid-exit door plug detached in flight. Following the accident, the Federal Aviation Administration (FAA) grounded and required inspections of all 737-9 aircraft with a mid-exit door plug, which constitute the large majority of the approximately 220 737-9 aircraft in the in-service fleet. On January 24, 2024, the FAA approved an enhanced maintenance and inspection process that must be performed on each of the grounded 737-9 aircraft. Our 737-9 operators have begun returning their fleets to service, and many 737-9s have completed inspections and resumed revenue flights. All 737-9 aircraft in production will undergo this same enhanced inspection process prior to delivery. On January 10, 2024, the FAA notified Boeing that the FAA has initiated an investigation into Boeing's quality control system. This was followed by the FAA announcing actions to increase its oversight of Boeing, including conducting: 1.An audit involving the 737-9 production line and its suppliers to evaluate Boeing's compliance with approved quality procedures, 2.Increased monitoring of Boeing's 737-9 in-service events, and 3.An assessment of safety risks around delegated authority and quality oversight, and examination of options to move these functions under independent third parties. On January 24, 2024, the FAA stated that it will not approve production rate increases or additional production lines for the 737 MAX until it is satisfied that Boeing is in full compliance with required quality control procedures. We are following the lead of the FAA as we work through the certification process of the 737-7 and 737-10 models. We continue to work with the FAA on open actions to support 737-7 certification. During the fourth quarter of 2023, the 737-10 program received approval from the FAA to begin the first phase of FAA certification flight testing. At December 31, 2023, we had approximately 35 737-7 and 737-10 aircraft in inventory. We are now planning to incorporate engineering solutions to the de-icing systems on the 737-7 and 737-10, which will delay certification and first deliveries. We are currently unable to reasonably estimate what impact the accident, the related FAA actions and certification delays will have on our financial position, results of operations and cash flows. During the third quarter of 2023, we discovered non-conforming holes in the aft pressure dome of certain 737-7, 737-8 and 737 military derivative aircraft. Rework on non-conforming fuselages with our supplier is complete and newly built aircraft meet our specifications. We do not expect inspection of completed aircraft in inventory to result in significant rework or production disruption. As of December 31, 2023, we had approximately 140 737-8 aircraft in inventory that were produced prior to 2023, including 85 aircraft for customers in China. Return-to-service of the China 737 MAX fleet is complete. While there continues to be uncertainty, we are continuing to work with airlines and government officials on delivery timing and expect to deliver most of the aircraft in inventory by the end of 2024. In the event that we are unable to deliver aircraft consistent with our assumptions, our financial position, results of operations and cash flows could be adversely affected. See further discussion of the 737 MAX in Note 7, Note 13 and Note 23 to our Consolidated Financial Statements. 747 Program We completed production of the 747 in the fourth quarter of 2022 and delivery of the last aircraft occurred in February 2023. Ending production of the 747 did not have a material impact on our financial position, results of operations or cash flows. 767 Program The accounting quantity for the 767 program increased by 12 units during 2023 due to the program's normal progress of obtaining additional orders and delivering airplanes. The 767 assembly line includes the commercial program and a derivative to support the KC-46A Tanker program. The commercial program has near break-even gross margins. We are currently producing at a combined rate of 3 aircraft per month. 777 and 777X Programs The accounting quantity for the 777X program increased by 100 units during the year ended December 31, 2023 due to obtaining additional orders for the 777-9 and 777-8. We are currently producing at a combined production rate of 4 per month for the 777/777X programs. We are following the lead of the FAA as we work through the certification process including obtaining approval from the FAA to begin certification flight testing. We expect the first delivery of the 777-9 to occur in 2025 and the 777-8 freighter to occur in 2027. First delivery of the 777-8 passenger aircraft is not expected to occur before 2030. In April 2022, we decided to pause production of the 777-9 during 2022 and 2023, which resulted in cumulative abnormal production costs of $0.8 billion. In the fourth quarter of 2023, the 777X program resumed production. The level of profitability on the 777X program will be subject to a number of factors. These factors include aircraft certification requirements and timing, change incorporation on completed aircraft, production disruption due to labor instability and supply chain disruption, customer negotiations, further production rate adjustments for the 777X or other commercial aircraft programs, and contraction of the accounting quantity. One or more of these factors could result in reach-forward losses in future periods. 787 Program The accounting quantity for the 787 program increased by 100 units during 2023 due to the program's normal progress of obtaining additional orders and delivering airplanes. During 2023, we delivered 73 aircraft and increased the production rate to 5 per month beginning in October 2023. At December 31, 2023 and 2022, we had approximately 50 and 90 aircraft in inventory that require rework which we expect to complete by the end of 2024. Beginning in 2021, the 787 program lowered production rates and paused deliveries in order to improve production quality and implement changes in the production process designed to ensure that newly-built aircraft meet our specifications. In the third quarter of 2021, we determined that production rates below 5 per month represented abnormally low production rates. This resulted in abnormal production costs, which we expensed as incurred through the third quarter of 2023. We also determined that the inspections and rework costs on inventoried aircraft are excessive and should also be accounted for as abnormal production costs. Cumulative abnormal costs recorded through December 31, 2023 totaled $2.7 billion. The costs associated with the remaining rework are not expected to be significant. Fleet Support We provide the operators of our commercial aircraft with assistance and services to facilitate efficient and safe airplane operation. Collectively known as fleet support services, these activities and services begin prior to airplane delivery and continue throughout the operational life of the airplane. They include flight and maintenance training, field service support, engineering services, information services and systems and technical data and documents. The costs for fleet support are expensed as incurred and have historically been approximately 1% of total consolidated costs of products and services. Additional Considerations The development and ongoing production of commercial aircraft is extremely complex, involving extensive coordination and integration with suppliers and highly-skilled labor from employees and other partners. Meeting or exceeding our performance and reliability standards, as well as those of customers and regulators, can be costly and technologically challenging. In addition, the introduction of new aircraft and derivatives, such as the 777X, 737-7 and 737-10, involves increased risks associated with meeting development, production and certification schedules. These challenges include significant global regulatory scrutiny of all development aircraft. As a result, our ability to deliver aircraft on time, satisfy performance and reliability standards and achieve or maintain, as applicable, program profitability is subject to significant risks. Factors that could result in lower margins (or a material charge if an airplane program has or is determined to have reach-forward losses) include: changes to the program accounting quantity, customer and model mix, production costs and rates, changes to price escalation factors due to changes in the inflation rate or other economic indicators, performance or reliability issues involving completed aircraft, capital expenditures and other costs associated with increasing or adding new production capacity, learning curve, additional change incorporation, rework or safety enhancements, operational and supply chain challenges, achieving anticipated cost reductions, additional regulatory requirements in connection with certification in one or more jurisdictions, flight test and certification schedules, costs, schedule and demand for new airplanes and derivatives and status of customer claims, supplier claims or assertions and other contractual negotiations. While we believe the cost and revenue estimates incorporated in the consolidated financial statements are appropriate, the technical complexity of our airplane programs creates financial risk as additional completion costs may become necessary or scheduled delivery dates could be extended, which could trigger termination provisions, order cancellations or other financially significant exposure. Defense, Space & Security Business Environment and Trends United States Government Defense Environment Overview In March 2023, the U.S. government released the President's budget request for FY24, which requested $842 billion in funding for the U.S. DoD and $27 billion for NASA. The President's budget request does not request funding for F/A-18, V-22, or P-8 production aircraft. The P-8 program continues to pursue U.S. and non-U.S. sales opportunities. In addition, there is ongoing uncertainty with respect to program-level appropriations for the U.S. DoD, NASA and other government agencies for FY24 and beyond. Future budget cuts or investment priority changes, including changes associated with the authorizations and appropriations process, could result in reductions, cancellations and/or delays of existing contracts or programs. Any of these impacts could have a material effect on our results of operations, financial position, and/or cash flows. Non-U.S. Defense Environment Overview The non-U.S. market continues to be driven by complex and evolving security challenges and the need to modernize aging equipment and inventories. BDS expects that it will continue to have a wide range of opportunities across Asia, Europe and the Middle East given the diverse regional threats. At the end of 2023, 29% of BDS backlog was attributable to non-U.S. customers. Results of Operations Since our operating cycle is long-term and involves many different types of development and production contracts with varying delivery and milestone schedules, the operating results of a particular period may not be indicative of future operating results. In addition, depending on the customer and their funding sources, our orders might be structured as annual follow-on contracts, or as one large multi-year order or long-term award. As a result, period-to-period comparisons of backlog are not necessarily indicative of future workloads. The following discussions of comparative results among periods should be viewed in this context. Deliveries of new-build production units, including remanufactures and modifications, were as follows: Revenues BDS revenues in 2023 increased by $1,771 million compared with 2022. This increase is not indicative of future projected revenue trends. Revenues related to BDS' five major fixed-price development programs increased by $1,767 million in 2023 compared with 2022. This increase reflects lower unfavorable net cumulative contract catch-up adjustments in 2023 as well as higher costs incurred in 2023 to complete these contracts. Net unfavorable cumulative contract catch-up adjustments in 2023 were $648 million better than in 2022 largely due to lower charges on development programs in 2023, partially offset by unfavorable performance on other programs. BDS revenues in 2022 decreased by $3,378 million compared with 2021 primarily due to charges on development programs. Unfavorable performance across other defense programs and lower P-8 and weapons volume also contributed to the decrease in revenue. Cumulative contract catch-up adjustments in 2022 were $1,858 million more unfavorable than the prior year largely due to charges on development programs. (Loss)/earnings From Operations BDS loss from operations in 2023 of $1,764 million decreased by $1,780 million compared with $3,544 million in 2022. The decrease is primarily due to $2,863 million of lower charges in 2023 on fixed-price development programs that were partially offset by lower earnings across other programs including satellites and F-15, as well as higher period expenses. During 2023, losses incurred on the five fixed-price development programs totaled $1,585 million compared with $4,448 million in 2022. Charges on fixed-price development programs in 2023 included VC-25B ($482 million), KC-46A Tanker ($309 million), Commercial Crew ($288 million), T-7A Red Hawk ($275 million) and MQ-25 ($231 million). Loss from operations in 2023 includes a $315 million impact from an agreement with one of our satellite customers which includes customer considerations as well as increased costs to enhance the constellation and meet lifecycle commitments. Net unfavorable cumulative contract catch-up adjustments were $2,328 million better than in 2022. BDS loss from operations in 2022 of $3,544 million decreased by $5,088 million compared with earnings from operations of $1,544 million in 2021 primarily due to unfavorable impacts of cumulative contract catch-up adjustments ($4,284 million more unfavorable in 2022 than 2021). Volume and mix and higher research and development also contributed to the year over year earnings decline. Charges on fixed-price development programs in 2022 included VC-25B ($1,452 million), KC-46A Tanker ($1,374 million), MQ-25 ($579 million), T-7A Red Hawk Production Options ($552 million), T-7A Red Hawk Engineering and Manufacturing Development (EMD) ($203 million), and Commercial Crew ($288 million). These were partially offset by charges on the KC-46A Tanker ($402 million), VC-25B ($318 million), and Commercial Crew ($214 million) recognized in 2021. The net unfavorable cumulative contract catch-up adjustments represent losses incurred on these development and other programs. See further discussion of fixed-price contracts in Note 13 to our Consolidated Financial Statements. BDS (loss)/earnings from operations includes our share of income from equity method investments of $44 million, $13 million and $53 million primarily from our United Launch Alliance and other joint ventures in 2023, 2022 and 2021, respectively. Backlog Total backlog of $59,012 million at December 31, 2023 was $4,639 million higher than December 31, 2022 due to the timing of awards and revenue recognized on contracts awarded in prior years. Additional Considerations Our BDS business includes a variety of development programs which have complex design and technical challenges. Some of these programs have cost-type contracting arrangements. In these cases, the associated financial risks are primarily reduced award or incentive fees, lower profit rates, or program cancellation if cost, schedule or technical performance issues arise. Examples of these programs include Ground-based Midcourse Defense, Proprietary and Space Launch System programs. Some of our development programs are contracted on a fixed-price basis. Examples of fixed-price development programs include Commercial Crew, KC-46A Tanker, MQ-25, T-7A Red Hawk, VC-25B, and commercial and military satellites. A number of our ongoing fixed-price development programs have reach-forward losses. New programs could also have risk for reach-forward loss upon contract award and during the period of contract performance. Many development programs have highly complex designs. As technical or quality issues arise during development, we may experience schedule delays and cost impacts, which could increase our estimated cost to perform the work or reduce our estimated price, either of which could result in a material charge or otherwise adversely affect our financial condition. These programs are ongoing, and while we believe the cost and fee estimates incorporated in the financial statements are appropriate, the technical complexity of these programs creates financial risk as additional completion costs may become necessary or scheduled delivery dates could be extended, which could trigger termination provisions or other financially significant exposure. Risk remains that we may be required to record additional reach-forward losses in future periods. Global Services Business Environment and Trends The aerospace markets we serve include parts distribution, logistics and other inventory services; maintenance, engineering and upgrades; training and professional services; and data analytics and digital services. In 2023, commercial services volume at BGS exceeded pre-pandemic levels. We expect BGS commercial revenues to remain strong in future quarters as the commercial airline industry transitions from recovery to growth. Over the long-term, as the size of the worldwide commercial airline fleet continues to grow, so does demand for aftermarket services designed to increase efficiency and extend the economic lives of aircraft. Airlines are using data analytics to plan flight operations and predictive maintenance to improve their productivity and efficiency. Airlines continue to look for opportunities to reduce the size and cost of their spare parts inventory, frequently outsourcing spares management to third parties. The demand outlook for our government services business has remained stable in 2023. Government services market segments are growing on pace with related fleets, but vary based on the utilization and age of the aircraft. The U.S. government services market is the single largest individual market, comprising over 50 percent of the government services markets served. Over the next decade, we expect U.S. growth to remain flat and non-U.S. fleets, led by Middle East and Asia Pacific customers, to add rotorcraft and commercial derivative aircraft at faster rates. We expect approximately 30 percent of the worldwide fleet of military aircraft to be retired and replaced over the next ten years, driving increased demand for services to maintain aging aircraft and enhance aircraft capability. BGS' major customer, the U.S. government, remains subject to the spending limits and uncertainty, which could restrict the execution of certain program activities and delay new programs or competitions. Industry Competitiveness Aviation services is a competitive market with many domestic and international competitors. This market environment has resulted in intense pressures on pricing, and we expect these pressures to continue or intensify in the coming years. Continued access to global markets remains vital to our ability to fully realize our sales growth potential and long-term investment returns. Results of Operations Revenues BGS revenues in 2023 increased by $1,516 million compared with 2022 primarily due to higher commercial services revenue driven by market recovery across the commercial portfolio. The net unfavorable impact of cumulative contract catch-up adjustments in 2023 was $16 million worse than the net favorable impact in the prior year comparable period. BGS revenues in 2022 increased by $1,283 million compared with 2021 primarily due to higher commercial services volume, partially offset by lower government services volume and performance. The decrease in government services volume is partly driven by the discontinuation of an engine distribution agreement in the second quarter of 2022. The net favorable impact of cumulative contract catch-up adjustments in 2022 was $137 million lower than the prior year. Earnings From Operations BGS earnings from operations in 2023 increased by $602 million compared with 2022, primarily due to higher commercial services revenue. The net unfavorable impact of cumulative contract catch-up adjustments in 2023 was $9 million higher than the prior year. BGS earnings from operations in 2022 increased by $710 million compared with 2021, primarily due to higher commercial services volume and favorable mix, partially offset by lower government services performance. The net unfavorable impact of cumulative contract catch-up adjustments in 2022 was $148 million worse than the net favorable impact in the prior year. Backlog BGS total backlog of $19,869 million at December 31, 2023 increased by 3% from $19,338 million at December 31, 2022, primarily due to the timing of awards, partially offset by revenue recognized on contracts awarded in prior years. Liquidity and Capital Resources Cash Flow Summary (Dollars in millions) Operating Activities Net cash provided by operating activities was $6.0 billion during 2023 compared with $3.5 billion during 2022. Net cash provided by operating activities in 2022 included a $1.5 billion income tax refund. The year-over-year improvement in cash provided by operating activities reflects increases in revenues at BCA and BGS, higher Advances and progress billings ($3.3 billion) and lower payments to 737 MAX customers ($0.6 billion), partially offset by increased Inventories ($2.1 billion). Increases in Accrued liabilities in both years primarily reflects accrued reach-forward losses on BDS programs. Changes in assets and liabilities for 2023 decreased by $0.1 billion compared to 2022 primarily driven by unfavorable changes in Inventories ($2.1 billion) and Accrued liabilities ($2.2 billion), partially offset by increases in Advances and progress billings ($3.3 billion). The change in Inventories was primarily driven by increased production on the 737 and 777X programs, partially offset by increased deliveries for the 787 program in 2023. The change in Accrued liabilities was primarily driven by higher accrued losses on BDS fixed-price development programs recorded in the prior year. Cash provided by Advances and progress billings was $3.4 billion in 2023 as compared with $0.1 billion in 2022. Concessions paid to 737 MAX customers totaled $0.4 billion in 2023 and $1.0 billion in 2022. The $6.9 billion improvement in cash provided by operating activities in 2022 was primarily driven by improved changes in assets and liabilities of $11.1 billion, partially offset by lower non-cash items of $3.4 billion and higher net loss of $0.8 billion. Changes in assets and liabilities for 2022 improved by $11.1 billion compared with 2021 primarily driven by favorable changes in Accrued liabilities ($6.6 billion), Accounts payable ($4.6 billion) and Inventories ($1.5 billion), partially offset by a decrease in Advances and progress billings ($2.4 billion) in 2022. The increase in Accrued liabilities was primarily driven by the accrued losses on BDS fixed-price development programs, lower payments to 737 MAX customers in 2022, and a $0.7 billion payment in 2021 consistent with the terms of the Deferred Prosecution Agreement between Boeing and the U.S. Department of Justice. Concessions paid to 737 MAX customers totaled $1.0 billion and $2.5 billion during 2022 and 2021. Growth in Accounts payable in 2022 was a source of cash while reductions in Accounts payable in 2021 was a use of cash, generally reflecting increases in production rates. Inventory improvements were driven by higher 737 MAX deliveries and resumption of 787 deliveries in 2022. Additionally, in 2022 and 2021 we received income tax refunds of $1.5 billion and $1.7 billion. Cash provided by Advances and progress billings was $0.1 billion in 2022 as compared with $2.5 billion in 2021. The $3.4 billion reduction in non-cash items in 2022 was primarily driven by the $3.5 billion reach-forward loss on the 787 program that was recorded in 2021. Net loss for 2022 was $5.1 billion compared with net loss of $4.3 billion in 2021. The $0.8 billion year-over-year increase in the net loss was primarily driven by the absence of an income tax benefit in 2022. Payables to suppliers who elected to participate in supply chain financing programs increased by $0.4 billion in 2023, increased by $0.2 billion in 2022, and decreased by $1.5 billion in 2021. Supply chain financing is not material to our overall liquidity. The decrease in 2021 was primarily due to reductions in commercial purchases from suppliers. Investing Activities Cash used by investing activities during 2023 was $2.4 billion, compared with cash provided of $4.4 billion during 2022 and $9.3 billion during 2021. The increase in use of cash in 2023 compared to 2022 was primarily due to net contributions to investments of $0.7 billion in 2023 compared to net proceeds from investments of $5.6 billion in 2022. The decrease in cash inflows in 2022 compared to 2021 was primarily due to $4.2 billion of higher net proceeds from investments in 2021. Capital expenditures totaled $1.5 billion in 2023, compared with $1.2 billion in 2022 and $1.0 billion in 2021. We expect capital expenditures to grow in 2024 compared with 2023. Financing Activities Cash used by financing activities was $5.5 billion during 2023, compared with $1.3 billion during 2022, and $5.6 billion in 2021. The increase of $4.2 billion compared with 2022 primarily reflects higher net debt repayments in 2023. During 2023, debt repayments net of new borrowings were $5.1 billion compared with $1.3 billion in 2022 and $5.6 billion in 2021. At December 31, 2023 and 2022 debt balances totaled $52.3 billion and $57.0 billion, of which $5.2 billion were classified as short-term for both periods. We had 1.7 million, 0.2 million and 0.3 million shares transferred to us from employee tax withholdings in 2023, 2022 and 2021, respectively. The increase in 2023 was primarily due to the vesting of a one-time RSU grant awarded to most employees in December 2020. In 2020, we announced the suspension of our dividend until further notice. As a result, we did not pay any dividends in 2023, 2022 and 2021. Capital Resources We expect to be able to fund our cash requirements through cash and short-term investments and cash provided by operations, as well as continued access to capital markets. At December 31, 2023, we had $12.7 billion of cash, $3.3 billion of short-term investments, and $10.0 billion of unused borrowing capacity on revolving credit line agreements. In the third quarter of 2023, we entered into a $3.0 billion five-year revolving credit agreement expiring in August 2028 and a $0.8 billion 364-day revolving credit agreement expiring in August 2024. The 364-day credit facility has a one-year term out option which allows us to extend the maturity of any borrowings until August 2025. The legacy three-year revolving credit agreement expiring in August 2025, which consists of $3.0 billion of total commitments, and the legacy five-year revolving credit agreement expiring in October 2024, as amended, which consists of $3.2 billion of total commitments, each remain in effect. We anticipate that these credit lines will remain undrawn and primarily serve as back-up liquidity to support our general corporate borrowing needs. Our credit ratings were downgraded in 2020 and remained unchanged as of December 31, 2023. During the fourth quarter of 2023, Fitch upgraded our credit rating outlook from stable to positive driven by declining inventory levels, improving production and delivery profile, growing backlog, and forecasted positive free cash flow. During the third quarter of 2023, S&P upgraded the outlook on our credit rating from negative to stable primarily driven by improving deliveries and expected increases in production. During the first quarter of 2023, Moody's upgraded the outlook on our credit rating from negative to stable primarily driven by an improvement in operating cash flow and a reduction of 737 and 787 aircraft in inventory. We expect to be able to access capital markets when we require additional funding in order to pay off existing debt, address further impacts to our business related to market developments, fund outstanding financing commitments or meet other business requirements. A number of factors could cause us to incur increased borrowing costs and to have greater difficulty accessing public and private markets for debt. These factors include disruptions or declines in the global capital markets and/or a decline in our financial performance, outlook or credit ratings, and/or associated changes in demand for our products and services. These risks will be particularly acute if we are subject to further credit rating downgrades such as those we experienced in 2020. The occurrence of any or all of these events may adversely affect our ability to fund our operations and financing or contractual commitments. Any future borrowings may affect our credit ratings and are subject to various debt covenants. At December 31, 2023, we were in compliance with the covenants for our debt and credit facilities. The most restrictive covenants include a limitation on mortgage debt and sale and leaseback transactions as a percentage of consolidated net tangible assets (as defined in the credit agreements) and a limitation on consolidated debt as a percentage of total capital (as defined in the credit agreements). When considering debt covenants, we continue to have substantial borrowing capacity. Pension and Other Postretirement Benefits Pension cash requirements are based on an estimate of our minimum funding requirements, pursuant to Employee Retirement Income Security Act (ERISA) regulations, although we may make additional discretionary contributions. Estimates of other postretirement benefits are based on both our estimated future benefit payments and the estimated contributions to plans that are funded through trusts. At December 31, 2023 and 2022, our pension plans were $5.4 billion and $5.3 billion underfunded as measured under U.S. generally accepted accounting principles (GAAP). On an ERISA basis, our plans are more than 100% funded at December 31, 2023. We do not expect to make significant contributions to our pension plans in 2024. We may be required to make higher contributions to our pension plans in future years. For the foreseeable future, we are using common stock in lieu of cash to fund Company contributions to our 401(k) plans. Purchase Obligations Purchase obligations represent contractual agreements to purchase goods or services that are legally binding; specify a fixed, minimum or range of quantities; specify a fixed, minimum, variable or indexed price provision; and specify approximate timing of the transaction. Purchase obligations include amounts recorded as well as amounts that are not recorded on the Consolidated Statements of Financial Position. Purchase obligations not recorded on the Consolidated Statements of Financial Position include agreements for inventory procurement, tooling costs, electricity and natural gas contracts, property, plant and equipment, information technology software and hardware, and other miscellaneous production related obligations. The most significant obligation relates to inventory procurement contracts. We have entered into certain significant inventory procurement contracts that specify determinable prices and quantities, and long-term delivery timeframes. In addition, we purchase raw materials on behalf of our suppliers. These agreements require suppliers and vendors to be prepared to build and deliver items in sufficient time to meet our production schedules. The need for such arrangements with suppliers and vendors arises from the extended production planning horizon for many of our products. A significant portion of these inventory commitments is supported by firm contracts with customers and/or has historically resulted in settlement through reimbursement from customers for penalty payments to the supplier should the customer not take delivery. These amounts are also included in our forecasts of costs for program and contract accounting. Some inventory procurement contracts may include escalation adjustments. In these limited cases, we have included our best estimate of the effect of the escalation adjustment in the amounts disclosed in the table above. Purchase obligations recorded on the Consolidated Statements of Financial Position primarily include accounts payable and certain other current and long-term liabilities, including accrued compensation. We have entered into various industrial participation agreements with certain customers outside of the U.S. to facilitate economic flow back and/or technology or skills transfer to their businesses or government agencies as the result of their procurement of goods and/or services from us. These commitments may be satisfied by our local operations there, placement of direct work or vendor orders for supplies, opportunities to bid on supply contracts, transfer of technology or other forms of assistance. However, in some instances, our commitments may be satisfied through other parties (such as our vendors) who purchase supplies from our non-U.S. customers. In certain cases, penalties could be imposed if we do not meet our industrial participation commitments. During 2023, we incurred no such penalties. As of December 31, 2023, we had outstanding industrial participation agreements totaling $24.5 billion that extend through 2034. Purchase order commitments associated with industrial participation agreements are included in purchase obligations. To be eligible for such a purchase order commitment from us, a non-U.S. supplier must have sufficient capability to meet our requirements and must be competitive in cost, quality and schedule. Off-Balance Sheet Arrangements We are a party to certain off-balance sheet arrangements including certain guarantees. For discussion of these arrangements, see Note 14 to our Consolidated Financial Statements. Commercial Commitments Commercial aircraft financing commitments include commitments to provide financing related to aircraft on order, under option for deliveries or proposed as part of sales campaigns or refinancing with respect to delivered aircraft, based on estimated earliest potential funding dates. Customer financing commitments totaled $17.0 billion and $16.1 billion at December 31, 2023 and 2022. The increase relates to new financing commitments. We anticipate that we will not be required to fund a significant portion of our financing commitments as we continue to work with third party financiers to provide alternative financing to customers. Historically, we have not been required to fund significant amounts of outstanding commitments. However, there can be no assurances that we will not be required to fund greater amounts than historically required. See Note 13 to our Consolidated Financial Statements. Contingent Obligations We have significant contingent obligations that arise in the ordinary course of business, which include the following: Legal Various legal proceedings, claims and investigations are pending against us. Legal contingencies are discussed in Note 21 to our Consolidated Financial Statements. Environmental Remediation We are involved with various environmental remediation activities and have recorded a liability of $844 million at December 31, 2023. For additional information, see Note 13 to our Consolidated Financial Statements. Non-GAAP Measures Core Operating Earnings/(Loss), Core Operating Margin and Core Earnings/(Loss) Per Share Our Consolidated Financial Statements are prepared in accordance with GAAP which we supplement with certain non-GAAP financial information. These non-GAAP measures should not be considered in isolation or as a substitute for the related GAAP measures, and other companies may define such measures differently. We encourage investors to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. Core operating earnings/(loss), core operating margin and core earnings/(loss) per share exclude the FAS/CAS service cost adjustment. The FAS/CAS service cost adjustment represents the difference between the Financial Accounting Standards (FAS) pension and postretirement service costs calculated under GAAP and costs allocated to the business segments. Core earnings/(loss) per share excludes both the FAS/CAS service cost adjustment and non-operating pension and postretirement expenses. Non-operating pension and postretirement expenses represent the components of net periodic benefit costs other than service cost. Pension costs, comprising service and prior service costs computed in accordance with GAAP are allocated to BCA and certain BGS businesses supporting commercial customers. Pension costs allocated to BDS and BGS businesses supporting government customers are computed in accordance with U.S. Government Cost Accounting Standards (CAS), which employ different actuarial assumptions and accounting conventions than GAAP. CAS costs are allocable to government contracts. Other postretirement benefit costs are allocated to all business segments based on CAS, which is generally based on benefits paid. The Pension FAS/CAS service cost adjustments recognized in Loss from operations were benefits of $799 million in 2023, $849 million in 2022 and $882 million in 2021. The lower benefits in 2023 and 2022 were primarily due to reductions in allocated pension cost year over year. The non-operating pension expense included in Other income, net was a benefit of $529 million in 2023, $881 million in 2022 and $528 million in 2021. The lower benefits in 2023 were primarily due to higher interest cost and lower expected return on plan assets, offset by lower amortization of net actuarial losses. The higher benefits in 2022 were primarily due to lower amortization of net actuarial losses and a settlement loss that was recorded in 2021. For further discussion of pension and other postretirement costs, see the Management's Discussion and Analysis on page 26 of this Form 10-K and see Note 22 to our Consolidated Financial Statements. Management uses core operating earnings/(loss), core operating margin and core earnings/(loss) per share for purposes of evaluating and forecasting underlying business performance. Management believes these core earnings measures provide investors additional insights into operational performance as unallocated pension and other postretirement benefit cost primarily represent costs driven by market factors and costs not allocable to U.S. government contracts. The projected benefit obligation is sensitive to discount rates. The projected benefit obligation would decrease by $1,280 million or increase by $1,425 million if the discount rate increased or decreased by 25 basis points. A 25 basis point change in the discount rate would not have a significant impact on pension cost. However, net periodic pension cost is sensitive to changes in the expected long-term rate of asset return. A decrease or increase of 25 basis points in the expected long-term rate of asset return would have increased or decreased 2023 net periodic pension cost by $150 million. See Note 16 of the Notes to our Consolidated Financial Statements, which includes the discount rate and expected long-term rate of asset return assumptions for the last three years. Deferred Income Taxes - Valuation Allowance The Company had deferred income tax assets of $14,743 million at December 31, 2023 that can be used in future years to offset taxable income and reduce income taxes payable. The Company had deferred income tax liabilities of $10,363 million at December 31, 2023 that will partially offset deferred income tax assets and result in higher taxable income in future years and increase income taxes payable. Tax law determines whether future reversals of temporary differences will result in taxable and deductible amounts that offset each other in future years. The particular years in which temporary differences result in taxable or deductible amounts generally are determined by the timing of the recovery of the related asset or settlement of the related liability. On a quarterly basis, we assess the likelihood that we will be able to recover our deferred tax assets against future sources of taxable income and reduce the carrying amounts of deferred tax assets by recording a valuation allowance if, based on the available evidence, it is more likely than not (defined as a likelihood of more than 50%) that all or a portion of such assets will not be realized. This assessment takes into account both positive and negative evidence. A recent history of financial reporting losses is heavily weighted as a source of objectively verifiable negative evidence. Due to our recent history of losses, we determined we could not include future projected earnings in our analysis. Rather, we use systematic and logical methods to estimate when deferred tax liabilities will reverse and generate taxable income and when deferred tax assets will reverse and generate tax deductions. The selection of methodologies and assessment of when temporary differences will result in taxable or deductible amounts involves significant management judgment and is inherently complex and subjective. We believe that the methodologies we use are reasonable and can be replicated on a consistent basis in future periods. Deferred tax liabilities represent the assumed source of future taxable income and the majority are assumed to generate taxable amounts during the next five years. Deferred tax assets include amounts related to pension and other postretirement benefits that are assumed to generate significant deductible amounts beyond five years. The Company's valuation allowance of $4,550 million at December 31, 2023 primarily relates to pension and other postretirement benefit obligation deferred tax assets, tax net operating losses, tax credits and interest carryforwards that are assumed to reverse beyond the period in which reversals of deferred tax liabilities are assumed to occur. During 2023, the Company increased the valuation allowance by $1,388 million primarily due to tax credits and other carryforwards generated in 2023 that cannot be realized in 2023. Until the Company generates sustained levels of profitability, additional valuation allowances may have to be recorded with corresponding adverse impacts on earnings and/or other comprehensive income. For additional information regarding income taxes, see Note 4 of the Notes to the Consolidated Financial Statements. Mar 31, 2023: Quarterly Activities Report: Boeing Cash Balance decreases 26% As per a report dated March 31, 2023 the Cash Burn of operating activities was $318,000,000 in the quarter ended March 31, 2023. This corresponds to an average Cash Burn Rate of $106,000,000 per month.
2022 Dec 31, 2022: Boeing (BA) files SEC Form 10-K - Management's Discussion and Analysis Management's Discussion and Analysis of Financial Condition and Results of Operations Forward-Looking Statements This report may contain or incorporate by reference certain "forward looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about our future and statements that are not historical or current facts. These forward looking statements are often preceded by the words "should," "expect," "believe," "intend," "may," "will," "would," "could" or similar expressions. Forward-looking statements may contain expectations regarding revenues, earnings, operations and other results, and may include statements of future performance, plans and objectives. Forward looking statements also include statements pertaining to our strategies for future development of our business and products. Forward looking statements represent only our belief regarding future events, many of which by their nature are inherently uncertain. It is possible that the actual results may differ, possibly materially, from the anticipated results indicated in these forward-looking statements. Information regarding important factors that could cause actual results to differ, perhaps materially, from those in our forward looking statements is contained in this report and other documents we file. You should read and interpret any forward looking statement together with these documents, including the following: the description of our business contained in this report under the caption "Business"; the risk factors contained in this report under the caption "Risk Factors"; the discussion of our analysis of financial condition and results of operations contained in this report under the caption "Management's Discussion and Analysis of Financial Condition and Results of Operations" herein; the discussion of our risk management policies, procedures and methodologies contained in this report under the caption "Management's Discussion and Analysis of Financial Condition and Results of Operations-Risk Management" herein; the consolidated financial statements and notes to the consolidated financial statements contained in this report; and cautionary statements we make in our public documents, reports and announcements. Any forward-looking statement speaks only as of the date on which that statement is made. We undertake no obligation to update any forward-looking statement to reflect events or circumstances that occur after the date on which the statement is made, except as required by applicable law. Our business, by its nature, does not produce predictable or necessarily recurring earnings. Our results in any given period can be materially affected by conditions in global financial markets, economic conditions generally and our own activities and positions. For a further discussion of the factors that may affect our future operating results, see the risk factors contained in this report under the caption "Risk Factors". Our results of operations for the years ended November 30, 2022 ("2022"), November 30, 2021 ("2021") and November 30, 2020 ("2020") are discussed below. Additionally, for a further discussion of our results of operations for the year ended November 30, 2021 ("2021") and our 2021 results of operations as compared with our 2020 results of operations, see "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II, Item 7 of our Annual Report Form 10-K for the year ended November 30, 2021, which was filed with the Securities and Exchange Commission ("SEC") on January 28, 2022, and Exhibit 99.1, Part II, Item 7 of our Form 8-K, which was filed with the SEC on October 7, 2022. Consolidated Results of Operations Jefferies Group LLC Merger into Jefferies Financial Group Inc. On November 1, 2022, we simplified our corporate structure by merging Jefferies Group LLC with and into Jefferies Financial Group Inc. This merger eliminated the requirement for two sets of SEC filings and other duplicative processes. In connection with the merger, we have reclassified the presentation of certain line items within our Consolidated Statements of Earnings to streamline our financial statements and better align the presentation of our firm with our strategy of building our investment banking and capital markets and asset management businesses as we continue to reduce our legacy merchant banking portfolio. Prior year amounts have been revised to conform to these reclassification and presentation changes to current year reporting. Refer to Note 1, Organization and Basis of Presentation, in our consolidated financial statements included in this Annual Report on Form 10-K for further details. Overview Executive Summary 2022 Compared with 2021 Consolidated Results Net revenues for 2022 were $5.98 billion, compared with the prior year's all-time record of $8.01 billion for 2021. Results in 2022 reflect strong advisory revenues, offset by lower results in most of our other businesses. Earnings before income taxes of $1.06 billion for 2022 were down 53.2% over the prior year's record. Net earnings attributable to Jefferies Financial Group Inc. of $777 million for 2022 were down 53.4% over the prior year. Business Results Our investment banking net revenues were $2.90 billion for 2022, compared with a prior year record of $4.66 billion for 2021, including strong advisory revenues of $1.78 billion, compared to a prior year record of $1.87 billion. Our underwriting revenues for 2022 were $1.03 billion, down 58.7%, consistent with the significant reduction in industry-wide deal activity while our market position continued to improve. For 2022, we ranked as the seventh largest firm globally across our three core investment banking businesses - mergers and acquisitions advisory services, equity underwriting and leveraged finance underwriting. JEFFERIES FINANCIAL GROUP INC. Our equities net revenues of $1.06 billion are 18.5% lower than 2021, as 2021 was an exceptional year and 2022 presented a more difficult trading environment with significantly reduced new issue activity, including substantially reduced Special Purpose Acquisition Companies ("SPACs") activity. This was partially offset by market share gains and ongoing momentum in our client franchise. This compares to record results in predominately all of our equities businesses and across each of our regions during 2021. Our fixed income net revenues of $765.6 million were down 20.2% compared to 2021, primarily due to reduced client activity across most products, increased inflation and interest rate concerns, mark-to-market losses on certain mortgage inventory positions and a slowdown in securitized markets resulted in fewer trading opportunities. Overall net revenues in our asset management business were $1.26 billion, compared with $1.09 billion in 2021, reflecting revenues from sales of certain legacy merchant banking positions partially offset by lower investment returns as compared to the prior year. Non-interest Expenses Non-interest expenses for 2022 decreased $836.4 million, or 14.5%, to $4.92 billion, compared with $5.76 billion for 2021. The decrease is due to lower compensation and benefits expense, consistent with the decline in net revenues. Our pre-tax operating margin decreased to 17.7% in 2022 from 28.1% in 2021. Compensation and benefits expense for 2022 was $2.59 billion, a decrease of $965.7 million, or 27.2%, from 2021. Compensation and benefits expense as a percentage of Net revenues was 43.3% for 2022, compared with 44.4% for 2021. Refer to Note 13, Compensation Plans, included in this Annual Report on Form 10-K, for further details Non-interest expenses were also impacted by increases in Floor brokerage and clearing expenses, technology and communications expenses and business and development expenses, partially offset by a decline in underwriting expenses. Headcount At November 30, 2022, we had 5,381 employees globally, a decrease of 175 employees from our headcount of 5,556 at November 30, 2021. Our headcount decreased by 561 as a result of the sale of our wholly-owned subsidiary, Idaho Timber, offset by growth in our investment banking headcount, as well as additions in technology and other corporate services staff to support our growth and other strategic priorities. 2021 Compared with 2020 Consolidated Results Net revenues for 2021 were $8.01 billion, compared with prior year net revenues of $5.85 billion for 2020, an increase of $2.16 billion, or 37.0%, reflecting then record net revenues in investment banking, equities and asset management and solid results in fixed income. Earnings before income taxes of $2.25 billion for 2021 were up 111.2% over the prior year's earnings before income taxes. Net earnings attributable to Jefferies Financial Group Inc. of $1.67 billion for 2021 were up 116.7% over the prior year net earnings attributable to Jefferies Financial Group Inc. of $769.6 million for 2020. Business Results Our investment banking net revenues of $4.66 billion for 2021 were an increase of 81.9% from the prior year, reflecting record advisory revenues of $1.87 billion, an increase of 77.8%, or $820.1 million, compared to 2020, while our record underwriting revenues for 2021 were $2.49 billion, up $1.04 billion, or 72.1%. The increase in net revenues is reflective of an increase in both the number and aggregate value of transactions completed by our investment banking franchise. Our equities net revenues increased 15.2% compared to the prior year, reflecting record results that were driven by strong client activity and trading performance as a result of meaningful growth across all of our products and regions. Our fixed income net revenues were down 28.5% compared to the prior year, which was an all-time record. Net revenues for 2021 are reflective of strong trading results under more normalized trading conditions and reflect continued strength in certain of our credit-focused businesses and strong client demand though this is in comparison to outsize trading volumes and extremely active markets and high levels of volatility driving results in the prior year. Our asset management net revenues of $1.09 billion for 2021, were higher than the $814.6 million recorded in the prior year, driven by a substantial increase in asset management fees and revenues. Expenses Non-interest expenses for 2021 increased $976.3 million, or 20.9%, to $5.76 billion, compared with $4.78 billion for 2020. This 20.4% increase, is largely due to higher compensation and benefits expense, as well as higher transaction-related costs. Compensation and benefits expense for 2021 was $3.55 billion, an increase of $610.7 million, or 20.7%, from 2020. The increase is primarily a result of the significant increase in our net revenues. Non-compensation expenses for 2021 increased $365.6 million, or 19.9%, to $2.20 billion, compared with $1.84 billion for 2020. The increase in non-compensation expenses was largely due to higher Floor brokerage and clearing fees related to increased trading volumes and a significant increase in volume of investment banking transactions driving higher Underwriting costs. Technology and communication expenses, Professional services expenses and Business development expenses were also higher for 2021 reflecting our growth and costs associated with our increased recruiting efforts. Other expenses also increased for 2021 primarily due to an increase in bad debt expense mostly related to a specific default in our prime brokerage business and $64.0 million in costs related to the early redemption of senior notes. Headcount At November 30, 2021, we had 5,556 employees globally, an increase of 611 employees from our headcount of 4,945 at November 30, 2020. Our headcount increased across all regions primarily as a result the growth of our investment banking business, as well as due to additions in technology and other corporate services staff to support our increased regulatory requirements and overall growth. Revenues by Source Historically, our results of operations have been presented by summarized income statement line items by business segments comprised as follows: Investment Banking and Capital Markets, Asset Management, Merchant Banking, Corporate and Parent Company Interest, including consolidation adjustments. During the year ended November 30, 2022 and in connection with the merger of Jefferies Group LLC with and into Jefferies Financial Group Inc., we transferred significantly all of our legacy merchant banking investments to our Asset Management reportable segment. Certain publicly traded equity investments that are related to investment banking relationships were transferred from our Merchant Banking reportable segment to our Investment Banking and Capital Markets reportable segment. In addition, there were certain investments that were held within the Investment Banking and Capital Markets reportable segment, which have been transferred to the Asset Management reportable segment. These investments are now managed by the respective segment managers and we have revised our reportable business segment presentation accordingly. Prior period amounts have been revised to conform to the current segment reporting. We now present our results as two reportable business segments as follows: Investment Banking and Capital Markets and Asset Management. Additionally, corporate activities are now fully allocated to each of these reportable business segments. We believe that this reorganization of our segments better aligns the manner in which we manage our business activities and is in keeping with our fundamental long-term strategy of continuing to build out our investment banking effort, enhancing our capital markets businesses and further developing our Leucadia Asset Management alternative asset management platform as we continue to divest of significant portions of our legacy merchant banking portfolio. The remainder of our "Consolidated Results of Operations" is presented on a detailed product and expense basis. Our "Revenues by Source" is reported along the following business lines: investment banking, equities, fixed income and asset management. Additionally, the results of the asset management business include a new subcategory "merchant banking." The following is a description of the changes that have been made: Revenues from certain publicly traded equity securities that were historically presented within our Merchant Banking segment and are related to investment banking relationships are now presented within Other investment banking revenues. Other investment banking also includes revenues from our share of net earnings from our Jefferies Finance joint venture, our share of net earnings from our Berkadia commercial real estate joint venture, revenues from our lending and servicing of automobile loans as well as any revenues from securities and loans received or acquired in connection with our investment banking activities that have also been previously presented within Other investment banking in prior financial statement filings. Within Asset Management, investment return represents revenue related to our capital invested in asset management funds that are managed by us or our affiliated asset managers. Historically, revenues from principal investments in private equity and hedge funds managed by third-parties that are not part of our Leucadia Asset Management platform and revenues from other investment positions were also reported within investment return and have now been disaggregated and are presented as part of the new merchant banking subcategory. Revenues from legacy merchant banking investments, including results from our real estate development, oil and gas and other manufacturing activities are now presented in the new Asset Management subcategory, "merchant banking." Foreign currency transaction gains or losses, fair value debt valuation adjustments on derivative contracts, gains and losses on investments held in deferred compensation or certain other immaterial corporate income items are not considered by management in assessing the financial performance of our operating businesses and are, therefore, not reported as part of our business segment results. The changes to the manner in which we describe and disclose the performance of our business activities has no effect on our historical consolidated results of operation. Previously reported results are presented on a comparable basis in the tables below. (1)Net revenues presented for our Investment Banking and Capital Markets businesses and the merchant banking activities within our Asset Management business include allocations of interest income and interest expense as we assess the profitability of these businesses inclusive of the net interest revenue or expense associated with the respective activities, including the net interest cost of allocated long-term debt, which is a function of the mix of each business's associated assets and liabilities and the related funding costs. (2)Allocated net interest represents an allocation to Asset Management of our long-term debt interest expense, net of interest income on our Cash and cash equivalents and other sources of liquidity. Allocated net interest has been disaggregated to increase transparency and to make clearer actual Investment return. We believe that aggregating Investment return and Allocated net interest would obscure the Investment return by including an amount that is unique to our credit spreads, debt maturity profile, capital structure, liquidity risks and allocation methods. Investment Banking Revenues Investment banking is composed of revenues from: advisory services with respect to mergers/acquisitions, restructurings/recapitalizations and private capital advisory transactions; underwriting services, which include underwriting and placement services related to corporate debt, municipal bonds, mortgage-backed and asset-backed securities and equity and equity-linked securities and loan syndication; our 50% share of net earnings from our corporate lending joint venture, Jefferies Finance; our 45% share of net earnings from our commercial real estate finance joint venture, Berkadia; the revenues of Foursight, our wholly-owned subsidiary engaged in the lending and servicing of automobile loans; and securities and loans received or acquired in connection with our investment banking activities. 2022 Compared with 2021 Investment banking revenues for 2022 were $2.90 billion, compared with an annual record $4.66 billion for 2021, reflecting near record advisory revenues, offset by much lower revenues in debt and equity underwriting. Our 2022 advisory revenues were $1.78 billion, down $95.2 million, or 5.1%, from 2021's record year. Activity in the mergers and acquisitions markets remained strong and the market share of our completed transactions continued to increase. Our underwriting revenues for 2022 were $1.03 billion, a decrease of $1.46 billion, or 58.7%, from 2021, reflecting lower net revenues in both equity and debt underwriting of $539 million and $491 million, respectively. The decline in our debt and equity underwriting net revenues was consistent with the substantial reduction in industry-wide deal activity. The prior year results reflect an exceptionally active period in which clients took advantage of the strong equity environment to raise equity capital and the low rate environment to access the debt capital markets, with high levels of activity in the leveraged loan new issuance markets and record levels of high yield bond refinancing activity. Other investment banking revenues were $92.2 million for 2022, compared with $291.4 million for 2021. Other investment banking revenues during 2022 include $124.4 million from our share of Berkadia net earnings as compared with $130.6 million in 2021, primarily due to a shift in sales to a lower margin product mix as well as higher borrowing costs, partially offset by increased income from higher interest rates and increased servicing revenues. This was offset by our share of the net loss of our Jefferies Finance joint venture in 2022, reflecting reduced market activity and higher reserves recorded on its loan portfolio and outstanding commitments due to company-specific developments and difficult conditions in the leveraged finance market compared with our share of JFIN's net earnings in 2021. Revenues from Foursight were relatively consistent in 2022 as compared to 2021 as declines in revenue from originations and sales were offset by increases in servicing fee revenues. Other investment banking revenues for 2022 were also impacted by net unrealized losses on various investments, including publicly traded equity securities related to investment banking relationships, as compared to net unrealized gains in 2021. Our three-month forward investment banking backlog as of November 30, 2022 is consistent with the levels as of August 31, 2022, but execution remains dependent on market conditions. As an indicator of net revenues in a given future period, backlog snapshots are subject to limitations. The time frame for the realization of revenues from these expected transactions varies and is influenced by factors we do not control. Transactions not included in the estimate may occur, and expected transactions may also be modified or cancelled. 2021 Compared with 2020 Total Investment banking revenues for 2021 were a record of $4.66 billion, compared with $2.56 billion for 2020, reflecting record advisory and underwriting revenues. Our 2021 advisory revenues were a record $1.87 billion, up $820.1 million, or 77.8%, from 2020, primarily due to a significant increase in the number and values of transactions, and including a significant contribution from Special Purpose Acquisition Companies ("SPACs") advisory transactions in 2021. Our underwriting revenues for 2021 were a record $2.49 billion, an increase of $1.04 billion, or 72.1%, from 2020, with record net revenues in equity underwriting of $1.56 billion and record net revenues of $935.1 million in debt underwriting, as clients took advantage of the strong equity environment and the low interest rate environment. Our equity underwriting results also include increased revenues from SPAC offerings, as well as strong revenues from at-the-money offerings. Other investment banking revenues were $291.4 million for 2021, compared with $58.3 million for 2020. Other investment banking revenues include our share of the net earnings (loss) of the Jefferies Finance joint venture. In 2021, Jefferies Finance achieved record underwriting volumes on the back of the strength of the leveraged loan market and an active private-equity backed mergers and acquisitions environment. The results in 2021 were partially offset by a $56.0 million one-time charge incurred by Jefferies Finance related to refinancing outstanding debt. Results of Jefferies Finance in 2020 were impacted by unrealized losses related to the write-down of commitments and loans held-for-sale, primarily due to the impact of the COVID-19 pandemic on the markets and the economy. Additionally, results for 2021 include higher net revenues of from our share of earnings from Berkadia. The higher net revenues for 2021 are due to significant increases in debt and investment sales volumes. The net revenues for 2020 were impacted by the impairment of mortgage servicing rights as a result of lower interest rates, higher loan loss provisions and a decline in loan originations due to the impact of COVID-19. The prior year results were also impacted by unrealized write-downs of private equity investments received or acquired in connection with our investment banking activities. Equities Net Revenues Equities is composed of net revenues from: services provided to our clients from which we earn commissions or spread revenue by executing, settling and clearing transactions for clients; advisory services offered to clients; financing, securities lending and other prime brokerage services offered to clients, including capital introductions and outsourced trading; and wealth management services. 2022 Compared with 2021 Total equities net revenues were $1.06 billion for 2022, a decrease of 18.5%, compared with an exceptional $1.30 billion in 2021. The results for 2022 were impacted by a more difficult trading environment than 2021 with significantly reduced new issue activity, including reduced SPAC activity. This was partially offset by market share gains and ongoing momentum in our client franchise with strong client activity on market volatility. This compares to record results in predominately all of our equities businesses and across each of our regions during 2021. Results in our global cash equities business were lower across regions driven by lower trading revenues versus record results globally and across each region on strong market volumes in 2021. The prior year also benefited from trading opportunities related to SPACs. Our global convertibles business also had lower revenues, primarily driven by weaker primary equity markets and widening credit spreads compared to a strong new issue market in 2021. In addition, our equity derivatives business results declined as a difficult and challenging trading environment put pressure on trading activity during 2022. The lower results were offset by record 2022 results in our electronic trading and prime services businesses, reflecting increased client trading volumes driving strong commission revenues and by continued growth and momentum in our outsourced trading business. 2021 Compared with 2020 Total equities net revenues were a record $1.30 billion for 2021, an increase of 15.3% over the previous year record of $1.13 billion in 2020. Overall, our record results were driven by strong client activity and trading performance across all regions. Our global cash equities business had record results driven by significant client activity and strong trading revenue, including trading gains from SPAC-related activity, and our electronic trading platform continued to expand and achieve record results. Our derivatives business achieved record results, driven by strong client activity and trading revenues. Our prime services franchise had record results driven by higher balances and increased client activity, as well as higher financing revenues in our securities finance business. Our results were slightly offset by lower revenues in our global convertibles businesses primarily driven by lower trading volumes and volatility. Fixed Income Net Revenues Fixed income is composed of net revenues from: executing transactions for clients and making markets in securitized products, investment grade, high-yield, distressed, emerging markets, municipal and sovereign securities and bank loans, as well as foreign exchange execution on behalf of clients; interest rate derivatives and credit derivatives; and financing services offered to clients. 2022 Compared with 2021 Our fixed income net revenues of $765.6 million for 2022 were down 20.2% compared to 2021, primarily due to reduced client activity across most products, mark-to-market losses on certain mortgage inventory positions and a slowdown in securitized markets resulting in fewer trading opportunities. The prior year results were reflective of particularly strong client activity and robust trading activity. Results in certain U.S. securitized markets products were significantly impacted by high levels of volatility, less liquidity, widening spreads and uncertainty in respect of increased inflation and interest rate concerns, leading to mark-to-market losses on these products and a significant decline in demand for securitized products. We achieved higher revenues in emerging markets and our electronic execution businesses as increased volatility due to geopolitical concerns drove an increase in trading volumes. This was offset by lower results across most of our other credit businesses as a result of a decline in trading opportunities as compared to the prior year comparable period that reflected robust revenues across regions and products. 2021 Compared with 2020 Fixed income net revenues totaled $959.1 million for 2021, a decrease of 28.5% compared with record net revenues of $1.34 billion for 2020, driven by reduced global trading volumes across several products. While 2021 revenues decreased from 2020, our fixed income franchise produced solid overall trading results across most of our businesses, reflecting continued strength in certain of our credit-focused businesses and strong client demand in structuring and financing credit products and for trading securitized products. The results in 2020 significantly benefited from strong trading volumes due to extremely active markets and high levels of volatility. Net revenues for 2021 were higher in our securitized markets groups and distressed trading business, as compared with the prior year. In addition, 2021 results benefited from trading gains in our municipal securities business compared to 2020 when markets experienced a significant sell-off due to the impact of COVID-19. Our revenues also benefited from ongoing investments across our European credit franchise. Our 2021 results also include lower revenues in our U.S. and international rates businesses due to a decline in trading opportunities, as a result of lower volatility, as the prior year benefited from significant client activity and wider bid-offer spreads. Lower results across our investment grade corporates and emerging markets businesses, as well as our high yield and loan trading businesses, were driven by reduced client activity and lower levels of volatility in 2021. Asset Management We operate a diversified alternative asset management platform offering institutional clients an innovative range of investment strategies directly and through our affiliated asset managers. We provide certain of our affiliated asset managers access to our fully integrated global operational infrastructure and support. This may include strategy and product development, daily operations and finance-related activities, compliance, legal and human resources support, as well as marketing and business development. Asset management revenues include the following: management and performance fees from funds and accounts managed by us; revenue from affiliated asset managers where we are entitled to portions of their revenues and/or profits, as well as earnings on our ownership interests in our affiliated asset managers; investment income from our capital invested in and managed by us and our affiliated asset managers; and revenues from investments held in our legacy merchant banking portfolio, including consolidated operations from real estate development activities, oil and gas activities and timber manufacturing (until the sale of Idaho Timber during the third quarter of 2022). Asset management fees and revenues are impacted by the level of assets under management and the performance return of those assets, for the most part on an absolute basis, and, in certain cases, relative to a benchmark or hurdle. These components can be affected by financial markets, profits and losses in the applicable investment portfolios and client capital activity. Further, asset management fees vary with the nature of investment management services. The terms under which clients may terminate our investment management authority, and the requisite notice period for such termination, varies depending on the nature of the investment vehicle and the liquidity of the portfolio assets. In some instances, performance fees and similar revenues are recognized once a year, when they become fixed and determinable and are not probable of being significantly reversed, typically in December. As a result, a significant portion of our performance fees and similar revenues generated from investment returns in a calendar year are recognized in our following fiscal year. 2022 Compared with 2021 Asset management net revenues for 2022 were $1.26 billion, higher than the $1.09 billion for 2021, reflecting increased revenues on certain legacy merchant banking positions as well as sales of certain positions, partially offset by lower investment returns as compared to the prior year. Asset management fees and revenues in 2022 of $89.1 million, as compared with $120.7 million in 2021, were primarily due to modestly higher asset management fees on funds managed by us and a decline in the performance and similar fees and revenues earned through our strategic affiliates. Asset management investment return was $156.6 million for 2022, a decline from investment return of $260.3 million for 2021. During 2022, we sold our interests in Oak Hill and recognized revenues of $175.1 million. The gain on sale from our interests in Oak Hill was offset by mark-to-market losses from capital invested by us in certain asset management funds. Revenues from merchant banking assets managed within our Asset Management business were $1.05 billion for 2022 as compared to revenues of $756.5 million for 2021. During 2022, we recognized revenues from the sale of Idaho Timber and the sale of a completed multi-family real estate project. Merchant banking activity revenues were also higher in 2022 on higher oil and gas revenues given the increase in underlying commodity prices. The increase in revenues for the year ended November 30, 2022 as compared to the year ended November 30, 2021 was partially offset by unrealized losses on capital invested by us in various public and private companies that are now managed as part of our asset management strategy. 2021 Compared with 2020 Asset management net revenues for 2021 were $1.09 billion, higher than the $814.6 million for 2020, driven by a substantial increase in asset management fees and revenues. Asset management fees and revenues in 2021 of $120.7 million, as compared with $26.5 million in the prior year, were driven by significant increases in management, performance and similar fees and revenues from our strategic affiliates. Revenues from merchant banking assets managed within our Asset Management business were $756.5 million for 2022 as compared to revenues of $580.4 million in 2021. During 2021, revenues from Idaho Timber increased given the high demand for wood and an increase in average selling prices. Additionally, we recognized increased revenues in 2021 from the sale of real estate properties as compared to recognizing impairment losses in 2020 due to the softening of certain real estate markets. The increase in revenues for the year ended November 30, 2021 as compared to the year ended November 30, 2020 was partially offset by unrealized losses on capital invested by us in various public and private companies that are now managed as part of our asset management strategy. Assets under Management We and our affiliated asset managers have aggregate net asset values or net asset value equivalent assets under management of approximately $29.0 billion and $23.5 billion at November 30, 2022 and 2021, respectively. Net asset values or net asset value equivalent assets under management are composed of the fair value of the net assets of a fund or the net capital invested in a separately managed account. These include the following: Net asset values of investments made by us in funds or separately managed accounts were $2.6 billion and $2.6 billion at November 30, 2022 and 2021, respectively. We invest in certain strategies using our own capital, often before opening a strategy to outside capital. The net asset values include our capital of $1.5 billion and $1.6 billion at November 30, 2022 and 2021, respectively, plus amounts financed of $0.9 billion and $1.0 billion at November 30, 2022 and 2021, respectively. Revenues related to the investments made by us are presented in Investment return within the results of our asset management businesses. The assets under management by affiliated asset managers with whom we have profit or revenue sharing arrangements were $25.2 billion and $20.1 billion at November 30, 2022 and 2021, respectively. In some instances, due to the timing of payments and crystallization of underlying profits or revenue, the revenue related to these relationships will generally be realized and recognized once per year at the calendar year-end (during our first fiscal quarter). Revenues from our share of fees received by affiliated asset managers are presented in Revenue from strategic affiliates within the results of our asset management businesses. Third-party investments actively managed by our wholly-owned managers were $1.2 billion and $0.8 billion at November 30, 2022 and 2021, respectively. We earn asset management fees as a result of the third-party investments, which are presented in Asset management fees and revenues within the results of our asset management businesses. Total Non-Interest Expenses 2022 Compared with 2021 Non-interest expenses were $4.92 billion for 2022, a decrease of $836.4 million, or 14.5%, compared with $5.76 billion for 2021. The decrease is primarily due to lower compensation and benefits expense, consistent with the decline in net revenues as well as reduced underwriting costs consistent with the overall industry-wide decline in underwriting activity. Compensation and Benefits Compensation and benefits expense consists of salaries, benefits, commissions, annual cash compensation and share-based awards and the amortization of share-based and cash compensation awards to employees. Cash and share-based awards and a portion of cash awards granted to employees as part of year end compensation generally contain provisions such that employees who terminate their employment or are terminated without cause may continue to vest in their awards, so long as those awards are not forfeited as a result of other forfeiture provisions (primarily non-compete clauses) of those awards. Accordingly, the compensation expense for a portion of awards granted at year end as part of annual compensation is recorded during the year of the award. Compensation and benefits expense includes amortization expense associated with these awards to the extent vesting is contingent on future service. In addition, certain awards to our Chief Executive Officer and our President and contain market and performance conditions and the awards are amortized over their service periods. Compensation and benefits expense was $2.59 billion for 2022 compared with $3.55 billion for 2021. A significant portion of our compensation expense is highly variable with net revenues. Compensation and benefits expense as a percentage of Net revenues was 43.3% for 2022 and 44.4% for 2021. Compensation expense related to the amortization of share- and cash-based awards amounted to $240.5 million for 2022 compared with $405.0 million for 2021. Compensation expense in 2021 includes accelerated amortization of certain cash-based awards, which were amended to remove service requirements for vesting in the awards, amounted to $188.3 million for 2021. Employee headcount was 5,381 globally at November 30, 2022, a decrease of 175 employees from our headcount of 5,556 at November 30, 2021. Our headcount decreased by 561 as a result of the sale of our wholly-owned subsidiary, Idaho Timber, offset by growth in our investment banking headcount, as well as additions in technology and other corporate services staff to support our growth and other strategic priorities. Refer to Note 13, Compensation Plans, included in this Annual Report on Form 10-K, for further details on compensation and benefits. Non-Interest Expenses (Excluding Compensation and Benefits) Non-interest expenses, excluding Compensation and benefits, as a percentage of Net revenues was 39.0% and 27.5% for 2022 and 2021, respectively, demonstrating the operating leverage inherent in our business and was impacted by the following: ▪Floor brokerage and clearing fees were higher commensurate with strong equity commission revenues. ▪Underwriting costs were lower due to a decrease in the volume of equity and debt underwriting transactions. ▪Technology and communication expenses were higher related to the development of various trading and management systems and increased market data costs. ▪Business development expenses were higher as business travel, conferences and other events increased from the prior year, which was substantially curtailed due to COVID-19. ▪Cost of sales were lower reflecting only three quarters of cost of sales in 2022 from Idaho Timber as compared to a full year of cost of sales in 2021 due to its sale during the third quarter of 2022, partially offset by cost of sales arising from the sale of a multi-family real estate project during the fourth quarter of 2022. ▪Other expenses were higher and included an $80.0 million combined regulatory settlement with the SEC and the CFTC as well as our charitable donations of $13.5 million from our Ukrainian Doing Good Global Trading Day. Other expenses in the prior year comparable period included bad debt expenses related to our prime brokerage business, other charitable donations of $13.2 million as well costs related to the early redemption of senior notes. 2021 Compared with 2020 Non-compensation expenses for 2021 increased $365.6 million, or 19.9%, to $2.20 billion, compared with $1.84 billion for 2020. The increase in non-compensation expenses was largely due to higher Floor brokerage and clearing fees on increased trading volumes in equities and higher Underwriting costs and Business Development expenses as investment banking activity increased and higher costs associated with our increased recruiting efforts. The increase also included higher Technology and communication expenses primarily related to the development of various trading and management systems and increased market data costs. Professional services expenses were also higher primarily due to legal and agency fees to support growing activity across our businesses. Results for 2021 also included higher Other expenses primarily due to an increase in bad debt expense mostly related to a specific default in our prime brokerage business and $64.0 million in costs related to the early redemption of senior notes, partially offset by a reduction in the loss provision for investment banking receivables. Income Taxes For 2022, the provision for income taxes was $273.9 million, equating to an effective tax rate of 25.9%, compared with a provision for income taxes of $576.7 million, equating to an effective tax rate of 25.6% for 2021. Refer to Note 21, Income Taxes, in our consolidated financial statements included in this Annual Report on Form 10-K, for further details on income taxes. Accounting Developments For a discussion of recently issued accounting developments and their impact on our consolidated financial statements, see Note 3, Accounting Developments, in our consolidated financial statements included in this Annual Report on Form 10-K. Critical Accounting Estimates Our consolidated financial statements are prepared in conformity with U.S. generally accepted accounting principles ("U.S. GAAP"), which requires management to make estimates and assumptions that affect the amounts reported in our consolidated financial statements and related notes. Actual results can and may differ from estimates. These differences could be material to our consolidated financial statements. We believe our application of U.S. GAAP and the associated estimates are reasonable. Our accounting estimates are reevaluated, and adjustments are made when facts and circumstances dictate a change. Historically, we have found our application of accounting policies to be appropriate, and actual results have not differed materially from those determined using necessary estimates. For further discussions of the following significant accounting policies and other significant accounting policies, see Note 2, Summary of Significant Accounting Policies, in our consolidated financial statements included in this Annual Report on Form 10-K. Valuation of Financial Instruments Financial instruments owned and Financial instruments sold, not yet purchased are recorded at fair value. The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (the exit price). Unrealized gains or losses are generally recognized in Principal transactions revenues in our Consolidated Statements of Earnings. For information on the composition of our Financial instruments owned and Financial instruments sold, not yet purchased recorded at fair value, see Note 4, Fair Value Disclosures, in our consolidated financial statements included in this Annual Report on Form 10-K. Fair Value Hierarchy - In determining fair value, we maximize the use of observable inputs and minimize the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from independent sources. Unobservable inputs reflect our assumptions that market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. We apply a hierarchy to categorize our fair value measurements broken down into three levels based on the transparency of inputs, where Level 1 uses observable prices in active markets and Level 3 uses valuation techniques that incorporate significant unobservable inputs. Greater use of management judgment is required in determining fair value when inputs are less observable or unobservable in the marketplace, such as when the volume or level of trading activity for a financial instrument has decreased and when certain factors suggest that observed transactions may not be reflective of orderly market transactions. Judgment must be applied in determining the appropriateness of available prices, particularly in assessing whether available data reflects current prices and/or reflects the results of recent market transactions. Prices or quotes are weighed when estimating fair value with greater reliability placed on information from transactions that are considered to be representative of orderly market transactions. Fair value is a market-based measure; therefore, when market observable inputs are not available, our judgment is applied to reflect those judgments that a market participant would use in valuing the same asset or liability. The availability of observable inputs can vary for different products. We use prices and inputs that are current as of the measurement date even in periods of market disruption or illiquidity. The valuation of financial instruments categorized within Level 3 of the fair value hierarchy involves the greatest extent of management judgment. (See Note 2, Summary of Significant Accounting Policies, and Note 4, Fair Value Disclosures, in our consolidated financial statements included in this Annual Report on Form 10-K for further information on the definitions of fair value, Level 1, Level 2 and Level 3 and related valuation techniques.) Level 3 Assets and Liabilities - For information on the composition and activity of our Level 3 assets and Level 3 liabilities, see Note 4, Fair Value Disclosures, in our consolidated financial statements included in this Annual Report on Form 10-K. Controls Over the Valuation Process for Financial Instruments - Our Independent Price Verification Group, independent of the trading function, plays an important role in determining that our financial instruments are appropriately valued and that fair value measurements are reliable. This is particularly important where prices or valuations that require inputs are less observable. In the event that observable inputs are not available, the control processes are designed to assure that the valuation approach utilized is appropriate and consistently applied and that the assumptions are reasonable. Where a pricing model is used to determine fair value, these control processes include reviews of the pricing model's theoretical soundness and appropriateness by risk management personnel with relevant expertise who are independent from the trading desks. In addition, recently executed comparable transactions and other observable market data are considered for purposes of validating assumptions underlying the model. Income Taxes Significant judgment is required in estimating our provision for income taxes, our deferred tax assets and liabilities and any valuation allowance recorded against our net deferred tax assets. In determining the provision for income taxes, we must make judgments and interpretations about how to apply inherently complex tax laws to numerous transactions and business events. In addition, we must make estimates about the amount, timing and geographic mix of future taxable income, which includes various tax planning strategies to utilize tax attributes of deferred tax assets before they expire. We record a valuation allowance to reduce our net deferred tax asset to the amount that is more likely than not to be realized. We are required to consider all available evidence, both positive and negative, and to weigh the evidence when determining whether a valuation allowance is required and the amount of such valuation allowance. Generally, greater weight is required to be placed on objectively verifiable evidence when making this assessment, in particular on recent historical operating results. We also record reserves for unrecognized tax benefits based on our assessment of the probability of successfully sustaining tax filing positions. Management exercises significant judgment when assessing the probability of successfully sustaining tax filing positions, and in determining whether a contingent tax liability should be recorded and if so, estimating the amount. If our tax filing positions are successfully challenged, payments could be required that are in excess of reserved amounts or we may be required to reduce the carrying amount of our net deferred tax asset, either of which could be significant to our financial condition or results of operations. Impairment of Long-Lived Assets We evaluate our long-lived assets for impairment whenever events or changes in circumstances indicate, in management's judgment, that the carrying value of such assets may not be recoverable. When testing for impairment, we group our long-lived assets with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities (or asset group). The determination of whether an asset group is recoverable is based on management's estimate of undiscounted future cash flows directly attributable to the asset group as compared to its carrying value. If the carrying amount of the asset group is greater than the undiscounted cash flows, an impairment loss would be recognized for the amount by which the carrying amount of the asset group exceeds its estimated fair value. Due to a decline in oil and gas prices during the second quarter of 2020, we performed an impairment analyses on certain of our proven oil and gas properties in the DJ Basin of Wyoming and Colorado, the Williston Basin in North Dakota and Montana and oil and gas properties in the East Eagle Ford. Estimated undiscounted cash flows were determined based on reserves and costs and updated those based on strip pricing as of May 31, 2020 for the DJ Basin and Williston Basis properties and as of February 29, 2020 for the East Eagle Ford properties. The expected undiscounted future net cash flows were then compared to the end of quarter net carrying value of the oil and gas properties. No impairment of the Williston Basin assets was necessary as the undiscounted future net cash flows significantly exceeded the carrying value of these assets. Undiscounted future net cash flows were lower than the carrying value of the DJ Basin properties and the East Eagle Ford properties, and accordingly, the fair value of such proven properties was estimated using a 10.0% discount rate and estimated future cash flows from the properties' reserve report. The estimated fair value of the proven oil and gas properties in the DJ Basin totaled $26.8 million, which was $13.2 million lower than the carrying value as of the end of the second quarter of 2020 and the estimated fair value of the proven oil and gas properties in the East Eagle Ford totaled $9.6 million, which was $33.0 million lower than the carrying value as of the end of first quarter of 2020. As a result, impairment charges of $46.2 million were recorded in Other expenses during 2020. Impairment of Equity Method Investments We evaluate equity method investments for impairment when operating losses or other factors may indicate a decrease in value which is other than temporary. We consider a variety of factors including economic conditions nationally and in their geographic areas of operation, adverse changes in the industry in which they operate, declines in business prospects, deterioration in earnings, increasing costs of operations and other relevant factors specific to the investee. Whenever we believe conditions or events indicate that one of these investments might be significantly impaired, we obtain from such investee updated cash flow projections. We use this information and, together with discussions with the investee's management and comparable public company analysis, evaluate if the book value of its investment exceeds its fair value, and if so and the situation is deemed other than temporary, record an impairment charge. We have an equity method interest in FXCM with rights to a majority of all distributions in respect of FXCM. In the fourth quarter of 2022, we had a triggering event to test our investment in FXCM for impairment. We estimated the fair value of our equity interest in FXCM based primarily on a discounted cash flow valuation model. The discounted cash flow valuation model used inputs including management's projections of future FXCM cash flows and a discount rate of 23.0%. The estimated fair value of our equity investment in FXCM was $61.7 million as of the date of our impairment evaluation, which was $25.3 million lower than our prior carrying value. We concluded that the decline in fair value was other than temporary and as result incurred a $25.3 million impairment charge. We have a 49% membership interest in the RedSky JZ Fulton Mall joint venture, which owns a property in Brooklyn, New York. During the first quarter of 2020, difficulties were encountered with attempts to refinance debt within the investment. We viewed this, combined with a softening of the Brooklyn, New York real estate market during the quarter, as a triggering event and evaluated our equity method investment in RedSky JZ Fulton Mall to determine if there was an impairment. In connection with this evaluation, we obtained an appraisal which reflected a reduction in the value of the investment in comparison to an earlier appraisal obtained shortly before the beginning of the quarter. The appraisal was based off of Level 3 inputs consisting of prices of comparable properties and the appraisal indicated that the value of the property was worth less than the debt outstanding. We recorded an impairment charge of $55.6 million during 2020, which represented all of its carrying value in the joint venture. Goodwill At November 30, 2022, Goodwill recorded in our Consolidated Statement of Financial Condition is $1.74 billion (3.4% of total assets). The nature and accounting for goodwill is discussed in Note 2, Summary of Significant Accounting Policies, and Note 11, Goodwill and Intangible Assets, in our consolidated financial statements included in this Annual Report on Form 10-K. Goodwill must be allocated to reporting units and tested for impairment at least annually, or when circumstances or events make it more likely than not that an impairment occurred. Goodwill is tested by comparing the estimated fair value of each reporting unit with its carrying value. Our annual goodwill impairment testing date for a substantial portion of our reporting units is August 1 and November 30 for other identified reporting units. The results of our annual tests did not indicate any goodwill impairment. We use allocated tangible equity plus allocated goodwill and intangible assets for the carrying amount of each reporting unit. The amount of tangible equity allocated to a reporting unit is based on our cash capital model deployed in managing our businesses, which seeks to approximate the capital a business would require if it were operating independently. For further information on our Cash Capital Policy, refer to the Liquidity, Financial Condition and Capital Resources section herein. Intangible assets are allocated to a reporting unit based on either specifically identifying a particular intangible asset as pertaining to a reporting unit or, if shared among reporting units, based on an assessment of the reporting unit's benefit from the intangible asset in order to generate results. Estimating the fair value of a reporting unit requires management judgment and often involves the use of estimates and assumptions that could have a significant effect on whether or not an impairment charge is recorded and the magnitude of such a charge. Estimated fair values for our reporting units utilize market valuation methods that incorporate price-to-earnings and price-to-book multiples of comparable public companies and/or projected cash flows. Under the market valuation approach, the key assumptions are the selected multiples and our internally developed projections of future profitability, growth and return on equity for each reporting unit. The weight assigned to the multiples requires judgment in qualitatively and quantitatively evaluating the size, profitability and the nature of the business activities of the reporting units as compared to the comparable publicly-traded companies. In addition, as the fair values determined under the market valuation approach represent a noncontrolling interest, we apply a control premium to arrive at the estimate fair value of each reporting unit on a controlling basis. Historically, we have performed our annual goodwill impairment testing within the Investment Banking and Capital Markets, Asset Management and Merchant Banking reportable business segments. On November 1, 2022 in connection with the merger of Jefferies Group LLC into Jefferies Financial Group Inc., we reassessed our reporting units based on the discrete financial information to be made available to segment management as of and subsequent to the merger. As a result, we identified each of the Investment Banking, Equities and Wealth Management and Fixed Income businesses to be reporting units within the Investment Banking and Capital Markets reportable business segment. Goodwill previously attributable to our Merchant Banking reportable segment is now included within our Asset Management reportable business segment. The total goodwill of $1.55 billion attributed to the Investment Banking and Capital Markets reportable business segment has been assigned to each of the Investment Banking, Equities and Wealth Management and Fixed Income reporting units as of November 1, 2022, based on the relative fair value of each of the reporting units' as of November 1, 2022. The relative fair value estimate of each of the reporting units' as of November 1, 2022, was based on methodologies consistent with the market valuation approach used in our annual impairment test, which are consistent with valuation techniques market participants would use. The results of our reassessment of the reporting units indicated that all of the reporting units had a fair value in excess of their carrying amounts based on current projections as of November 1, 2022. The valuation methodology for our reporting units are sensitive to management's forecasts of future profitability, which are a significant component of the valuation and come with a level of uncertainty regarding trading volumes and capital market transaction levels. The carrying values of goodwill by reporting unit at November 30, 2022 are as follows: $722.5 million in Investment Banking, $254.8 million in Equities and Wealth Management, $575.6 million in Fixed Income, $143.0 million in Asset Management and $40.2 million attributed to various individual legacy merchant banking investments. Liquidity, Financial Condition and Capital Resources Our CFO and Global Treasurer are responsible for developing and implementing our liquidity, funding and capital management strategies. These policies are determined by the nature and needs of our day to day business operations, business opportunities, regulatory obligations, and liquidity requirements. Our actual levels of capital, total assets and financial leverage are a function of a number of factors, including asset composition, business initiatives and opportunities, regulatory requirements and cost and availability of both long term and short term funding. We have historically maintained a balance sheet consisting of a large portion of our total assets in cash and liquid marketable securities. The liquid nature of these assets provides us with flexibility in financing and managing our business. We also own a legacy portfolio of businesses and investments that are reflected as consolidated subsidiaries, equity investments or securities. We are in the process of liquidating a substantial portion of this portfolio with the intention of selling to third parties or distributing to shareholders this portfolio over the next few years. During the year ended November 30, 2022, we sold our wholly-owned manufacturing subsidiary, Idaho Timber, at a combined sales price of $239.3 million, resulting in a pre-tax gain of $138.7 million recognized in Other revenue and also sold a multi-family real estate property recognizing revenues of $122.5 million in Other revenue and Cost of sales of $70.2 million. In keeping with our strategy of returning excess liquidity to shareholders, during the year ended November 30, 2022, we returned an aggregate of $1.14 billion to shareholders in the form of $280.1 million dividends and the repurchase of 25.6 million shares for a total of $859.6 million of $33.58 per share. On January 13, 2023, we distributed our ownership interests in Vitesse Energy on a tax-free pro rata basis to all shareholders, resulting in a distribution of capital of over $500.0 million. We maintain modest leverage to support our investment grade ratings. The growth of our balance sheet is supported by our equity and we have quantitative metrics in place to monitor leverage and double leverage. Our capital plan is robust, in order to sustain our operating model through stressed conditions. We maintain adequate financial resources to support business activities in both normal and stressed market conditions, including a buffer in excess of our regulatory, or other internal or external, requirements. Our access to funding and liquidity is stable and efficient to ensure that there is sufficient liquidity to meet our financial obligations in normal and stressed market conditions. Our Balance Sheet A business unit level balance sheet and cash capital analysis are prepared and reviewed with senior management on a weekly basis. As a part of this balance sheet review process, capital is allocated to all assets and gross balance sheet limits are adjusted, as necessary. This process ensures that the allocation of capital and costs of capital are incorporated into business decisions. The goals of this process are to protect the firm's platform, enable our businesses to remain competitive, maintain the ability to manage capital proactively and hold businesses accountable for both balance sheet and capital usage. We actively monitor and evaluate our financial condition and the composition of our assets and liabilities. We continually monitor our overall securities inventory, including the inventory turnover rate, which confirms the liquidity of our overall assets. A significant portion of our financial instruments are valued on a daily basis and we monitor and employ balance sheet limits for our various businesses. Liquidity Management The key objectives of the liquidity management framework are to support the successful execution of our business strategies while ensuring sufficient liquidity through the business cycle and during periods of financial distress. Our liquidity management policies are designed to mitigate the potential risk that we may be unable to access adequate financing to service our financial obligations without material franchise or business impact. The principal elements of our liquidity management framework are our Contingency Funding Plan, our Cash Capital Policy and our assessment of Modeled Liquidity Outflow ("MLO"). Contingency Funding Plan. Our Contingency Funding Plan is based on a model of a potential liquidity contraction over a one year time period. This incorporates potential cash outflows during a market or our idiosyncratic liquidity stress event, including, but not limited to, the following: Repayment of all unsecured debt maturing within one year and no incremental unsecured debt issuance; Maturity rolloff of outstanding letters of credit with no further issuance and replacement with cash collateral; Higher margin requirements than currently exist on assets on securities financing activity, including repurchase agreements and other secured funding; Liquidity outflows related to possible credit downgrade; Lower availability of secured funding; Client cash withdrawals; The anticipated funding of outstanding investment and loan commitments; and Certain accrued expenses and other liabilities and fixed costs. Cash Capital Policy. We maintain a cash capital model that measures long-term funding sources against requirements. Sources of cash capital include our equity, mezzanine equity and the noncurrent portion of long-term borrowings. Uses of cash capital include the following: Illiquid assets such as equipment, goodwill, net intangible assets, exchange memberships, deferred tax assets and certain investments; A portion of securities inventory and other assets not expected to be financed on a secured basis in a credit stressed environment (i.e., margin requirements); and Drawdowns of unfunded commitments. To ensure that we do not need to liquidate inventory in the event of a funding stress, we seek to maintain surplus cash capital. Our total long-term capital of $17.49 billion at November 30, 2022 exceeded our cash capital requirements. MLO. Our businesses are diverse, and our liquidity needs are determined by many factors, including market movements, collateral requirements and client commitments, all of which can change dramatically in a difficult funding environment. During a liquidity stress, credit-sensitive funding, including unsecured debt and some types of secured financing agreements, may be unavailable, and the terms (e.g., interest rates, collateral provisions and tenor) or availability of other types of secured financing may change. As a result of our policy to ensure we have sufficient funds to cover what we estimate may be needed in a liquidity stress, we hold more cash and unencumbered securities and have greater long-term debt balances than our businesses would otherwise require. As part of this estimation process, we calculate an MLO that could be experienced in a liquidity stress. MLO is based on a scenario that includes both a market-wide stress and firm-specific stress, characterized by some or all of the following elements: Global recession, default by a medium-sized sovereign, low consumer and corporate confidence, and general financial instability. Severely challenged market environment with material declines in equity markets and widening of credit spreads. Damaging follow-on impacts to financial institutions leading to the failure of a large bank. A firm-specific crisis potentially triggered by material losses, reputational damage, litigation, executive departure, and/or a ratings downgrade. The following are the critical modeling parameters of the MLO: Liquidity needs over a 30-day scenario. A two-notch downgrade of our long-term senior unsecured credit ratings. No support from government funding facilities. A combination of contractual outflows, such as upcoming maturities of unsecured debt, and contingent outflows (e.g., actions though not contractually required, we may deem necessary in a crisis). We assume that most contingent outflows will occur within the initial days and weeks of a stress. No diversification benefit across liquidity risks. We assume that liquidity risks are additive. The calculation of our MLO under the above stresses and modeling parameters considers the following potential contractual and contingent cash and collateral outflows: All upcoming maturities of unsecured long-term debt, commercial paper, promissory notes and other unsecured funding products assuming we will be unable to issue new unsecured debt or rollover any maturing debt. Repurchases of our outstanding long-term debt in the ordinary course of business as a market maker. A portion of upcoming contractual maturities of secured funding activity due to either the inability to refinance or the ability to refinance only at wider haircuts (i.e., on terms which require us to post additional collateral). Our assumptions reflect, among other factors, the quality of the underlying collateral and counterparty concentration. Collateral postings to counterparties due to adverse changes in the value of our over-the-counter ("OTC") derivatives and other outflows due to trade terminations, collateral substitutions, collateral disputes, collateral calls or termination payments required by a two-notch downgrade in our credit ratings. Variation margin postings required due to adverse changes in the value of our outstanding exchange-traded derivatives and any increase in initial margin and guarantee fund requirements by derivative clearing houses. Liquidity outflows associated with our prime services business, including withdrawals of customer credit balances, and a reduction in customer short positions. Liquidity outflows to clearing banks to ensure timely settlements of cash and securities transactions. Draws on our unfunded commitments considering, among other things, the type of commitment and counterparty. Other upcoming large cash outflows, such as employee compensation, tax and dividend payments, with no expectation of future dividends from any subsidiaries. Based on the sources and uses of liquidity calculated under the MLO scenarios, we determine, based on a calculated surplus or deficit, additional long-term funding that may be needed versus funding through the repurchase financing market and consider any adjustments that may be necessary to our inventory balances and cash holdings. At November 30, 2022, we had sufficient excess liquidity to meet all contingent cash outflows detailed in the MLO. We regularly refine our model to reflect changes in market or economic conditions and our business mix. Sources of Liquidity (1)Average balances are calculated based on weekly balances. (2)At November 30, 2022 and 2021, $7.14 billion and $8.47 billion, respectively, was invested in U.S. government money funds that invest at least 99.5% of its total assets in cash, securities issued by the U.S. government and U.S. government-sponsored entities, and repurchase agreements that are fully collateralized by cash or government securities. The remaining $23.1 million and $14.9 million at November 30, 2022 and 2021 are invested in AAA-rated prime money funds. The average balance of U.S. government money funds for the quarter ended November 30, 2022 was $5.71 billion. Consists of high quality sovereign government securities and reverse repurchase agreements collateralized by U.S. government securities and other high quality sovereign government securities; deposits with a central bank within the European Economic Area, United Kingdom, Canada, Australia, Japan, Switzerland or the U.S.; and securities issued by a designated multilateral development bank and reverse repurchase agreements with underlying collateral composed of these securities. (4)Other includes unencumbered inventory representing an estimate of the amount of additional secured financing that could be reasonably expected to be obtained from our Financial instruments owned that are currently not pledged after considering reasonable financing haircuts. In addition to the cash balances and liquidity pool presented above, the majority of financial instruments (both long and short) in our trading accounts are actively traded and readily marketable. At November 30, 2022, we had the ability to readily obtain repurchase financing for 78.2% of our inventory at haircuts of 10% or less, which reflects the liquidity of our inventory. In addition, as a matter of our policy, all of these assets have internal capital assessed, which is in addition to the funding haircuts provided in the securities finance markets. Additionally, certain of our Financial instruments owned primarily consisting of bank loans, consumer loans and investments are predominantly funded by long term capital. Under our cash capital policy, we model capital allocation levels that are more stringent than the haircuts used in the market for secured funding; and we maintain surplus capital at these more stringent levels. We continually assess the liquidity of our inventory based on the level at which we could obtain financing in the marketplace for a given asset. Assets are considered to be liquid if financing can be obtained in the repurchase market or the securities lending market at collateral haircut levels of 10% or less. The following summarizes our financial instruments by asset class that we consider to be of a liquid nature and the amount of such assets that have not been pledged as collateral at November 30, 2022 and 2021 (in thousands): 1)Consists solely of agency mortgage-backed securities issued by the Federal Home Loan Mortgage Corporation ("Freddie Mac"), the Federal National Mortgage Association ("Fannie Mae") and the Government National Mortgage Association ("Ginnie Mae"). (2)Unencumbered liquid balances represent assets that can be sold or used as collateral for a loan, but have not been. In addition to being able to be readily financed at reasonable haircut levels, we estimate that each of the individual securities within each asset class above could be sold into the market and converted into cash within three business days under normal market conditions, assuming that the entire portfolio of a given asset class was not simultaneously liquidated. There are no restrictions on the unencumbered liquid securities, nor have they been pledged as collateral. Sources of Funding and Capital Resources Our assets are funded by equity capital, senior debt, securities loaned, securities sold under agreements to repurchase, customer free credit balances, bank loans and other payables. Secured Financing We rely principally on readily available secured funding to finance our inventory of financial instruments owned and financial instruments sold. Our ability to support increases in total assets is largely a function of our ability to obtain short and intermediate-term secured funding, primarily through securities financing transactions. We finance a portion of our long inventory and cover some of our short inventory by pledging and borrowing securities in the form of repurchase or reverse repurchase agreements (collectively "repos"), respectively. At November 30, 2022, approximately 61.0% of our cash and noncash repurchase financing activities use collateral that is considered eligible collateral by central clearing corporations. During 2022, an average of approximately 75.9% of our cash and noncash repurchase financing activities used collateral that was considered eligible collateral by central clearing corporations. Central clearing corporations are situated between participating members who borrow cash and lend securities (or vice versa); accordingly, repo participants contract with the central clearing corporation and not one another individually. Therefore, counterparty credit risk is borne by the central clearing corporation which mitigates the risk through initial margin demands and variation margin calls from repo participants. The comparatively large proportion of our total repo activity that is eligible for central clearing reflects the high quality and liquid composition of the inventory we carry in our trading books. For those asset classes not eligible for central clearing house financing, we seek to execute our bi-lateral financings on an extended term basis and the tenor of our repurchase and reverse repurchase agreements generally exceeds the expected holding period of the assets we are financing. The weighted average maturity of cash and noncash repurchase agreements for non-clearing corporation eligible funded inventory is approximately six months at November 30, 2022. Our ability to finance our inventory via central clearinghouses and bi-lateral arrangements is augmented by our ability to draw bank loans on an uncommitted basis under our various banking arrangements. At November 30, 2022, short-term borrowings, which must be repaid within one year or less and include bank loans and overdrafts, borrowings under revolving credit facilities and floating rate puttable notes totaled $528.4 million. Interest under the bank lines is generally at a spread over the federal funds rate. Letters of credit are used in the normal course of business mostly to satisfy various collateral requirements in favor of exchanges in lieu of depositing cash or securities. Average daily short-term borrowings outstanding were $432.0 million for 2022. At November 30, 2022 and 2021, our borrowings under credit facilities classified within bank loans in Short-term borrowings in our Consolidated Statements of Financial Condition were $517.0 million and $200.0 million, respectively. Our borrowings include credit facilities that contain certain covenants that, among other things, require us to maintain a specified level of tangible net worth, require a minimum regulatory net capital requirement for our U.S. broker-dealer, Jefferies LLC, and impose certain restrictions on the future indebtedness of certain of our subsidiaries that are borrowers. Interest is based on rates at spreads over the federal funds rate or other adjusted rates, as defined in the various credit agreements, or at a rate as agreed between the bank and us in reference to the bank's cost of funding. At November 30, 2022, we were in compliance with all covenants under these credit facilities. For additional details on our short-term borrowings, refer to Note 16, Short-Term Borrowings, in our consolidated financial statements included in this Annual Report on Form 10-K. In addition to the above financing arrangements, we issue notes backed by eligible collateral under master repurchase agreements, which provides an additional financing source for our inventory (our "repurchase agreement financing program"). The notes issued under the program are presented within Other secured financings in our Consolidated Statements of Financial Condition. At November 30, 2022, the outstanding notes were $1.31 billion, bear interest at a spread over the London Interbank Offered Rate ("LIBOR") and mature from September 2022 to July 2025. For additional details on our repurchase agreement financing program, refer to Note 8, Variable Interest Entities, in our consolidated financial statements included in this Annual Report on Form 10-K. Long-Term Debt During 2022, long-term debt decreased by $351.7 million to $8.77 billion at November 30, 2022, as presented in our Consolidated Statements of Financial Condition. This decrease is primarily due to fair value changes in our structured notes and gains on certain of our senior notes associated with interest rate swaps based on their designation as fair value hedges, partially offset by structured notes issuances, net of retirements, of approximately $209.4 million and net issuances of approximately $176.7 million related to our secured credit facilities. At November 30, 2022, all of our structured notes contain various interest rate payment terms and are accounted for at fair value, with changes in fair value resulting from a change in the instrument-specific credit risk presented in other comprehensive income and changes in fair value resulting from non-credit components recognized in Principal transactions revenues. The fair value of all of our structured notes at November 30, 2022 was $1.58 billion. At November 30, 2022 and 2021, our borrowings under several credit facilities classified within Long-term debt in our Consolidated Statements of Financial Condition amounted to $933.5 million and $774.1 million, respectively. Interest on these credit facilities are based on adjusted London Interbank Offered Rate ("LIBOR") rates, Secured Overnight Financing Rate ("SOFR") plus a spread or other adjusted rates, as defined in the various credit agreements. The credit facility agreements contain certain covenants that, among other things, require us to maintain specified levels of tangible net worth and liquidity amounts, and impose certain restrictions on future indebtedness of and require specified levels of regulated capital and cash reserves for certain of our subsidiaries. At November 30, 2022, we were in compliance with all covenants under theses credit facilities, except for certain facilities secured by automobile loans with an amount outstanding of $112.9 million for which technical covenant violations have occurred that are in the process of being resolved with the lenders. In addition, one of our subsidiaries has a Loan and Security Agreement with a bank for a term loan ("Secured Bank Loan"). At November 30, 2022, borrowings under the Secured Bank Loan amounted to $100.0 million and are also classified within Long-term debt in our Consolidated Statements of Financial Condition. The Secured Bank Loan matures on September 13, 2024 and is collateralized by certain trading securities with an interest rate of 1.25% plus LIBOR. The agreement contains certain covenants that, among other things, restricts lien or encumbrance upon any of the pledged collateral. At November 30, 2022, we were in compliance with all covenants under the Secured Bank Loan. HomeFed funds certain of its real estate projects in part by raising funds under the Immigrant Investor Program administered by the U.S. Citizenship and Immigration Services pursuant to the Immigration and Nationality Act ("EB-5 Program"). This debt is secured by certain real estate of HomeFed. At November 30, 2022, HomeFed was in compliance with all debt covenants which include, among other requirements, limitations on incurrence of debt, collateral requirements and restricted use of proceeds. Primarily all of HomeFed's EB-5 Program debt matures in 2024 through 2026. At November 30, 2022, HomeFed has construction loans with an aggregate committed amount of $101.9 million. The proceeds are being used for construction at certain of its real estate projects. The outstanding principal amount of the loans bear interest based on the 30 day LIBOR or the SOFR, plus spreads of 1.35% to 3.00%, subject to adjustment on the first of each calendar month. At November 30, 2022, the weighted average interest rate on these loans was 6.07%. The loans mature between October 2023 and May 2024 and are collateralized by the property underlying the related project with a guarantee by HomeFed. At November 30, 2022 and November 30, 2021, $57.0 million and $45.6 million, respectively, was outstanding under the construction loan agreements. At November 30, 2022, our unsecured long-term debt has a weighted average maturity of approximately 9.5 years. Equity Capital At November 30, 2022 and 2021, we had 600,000,000 authorized shares of common stock with a par value of $1.00 per share. At November 30, 2022, we had outstanding 226,129,626 common shares, 19,036,746 share-based awards that do not require the holder to pay any exercise price and 5,024,532 stock options that require the holder to pay an average exercise price of $23.75 per share. The 19,036,746 share-based awards include the target number of shares under the senior executive award plan until the performance period is complete. The Board of Directors has authorized the repurchase of common stock under a share repurchase program. Additionally Treasury stock repurchases include repurchases of common stock for net-share withholding under our equity compensation plan. Other Developments In February 2022, Russia invaded Ukraine. Following Russia's invasion, the U.S., the U.K., and the European Union governments, among others, developed coordinated financial and economic sanctions targeting Russia that, in various ways, constrain transactions with numerous Russian entities, including major Russian banks and individuals; transactions in Russian sovereign debt; and investment, trade and financing to, from, or in certain regions of Ukraine. We do not have any operations in Russia or any clients with significant Russian operations and we have minimal market risk related to securities of companies either domiciled or operating in Russia. We continue to monitor the status of trading and the credit risk of our counterparties and we believe that any loss we might incur will be immaterial. On January 1, 2022, the publication of the one-week and two-month U.S. Dollar LIBOR maturities and all non-U.S. Dollar LIBOR maturities ceased and the remaining U.S. Dollar LIBOR maturities will cease immediately after June 30, 2023. We are a counterparty to a number of LIBOR-based contracts composed primarily of cleared derivative contracts and floating rate notes. We continue to make progress with our transition program to orderly transition from Interbank Offered Rates to alternative reference rates in accordance with industry timelines, which includes a policy that limits new agreements that reference U.S. Dollar LIBOR or non-U.S Dollar LIBOR, except as permitted under certain circumstances. Our transition plan is designed to enable operational readiness and robust risk management and we are taking steps to update operational processes, models and contracts for any changes that may be required as well as reduce our overall exposure to LIBOR. We are actively engaged with our counterparties to ensure that our contracts adhere to the International Swaps and Derivative Association, Inc. fallback protocol or are actively converted to alternative risk-free reference rates and are both educating and assisting our clients with the transition from and cessation of LIBOR. Off-Balance Sheet Arrangements and Contractual Obligations Off-Balance Sheet Arrangements We have contractual commitments arising in the ordinary course of business for securities loaned or purchased under agreements to resell, repurchase agreements, future purchases and sales of foreign currencies, securities transactions on a when-issued basis, purchases and sales of corporate loans in the secondary market and underwriting. Each of these financial instruments and activities contains varying degrees of off-balance sheet risk whereby the fair values of the securities underlying the financial instruments may be in excess of, or less than, the contract amount. The settlement of these transactions is not expected to have a material effect upon our consolidated financial statements. Risk Management Overview Risk is an inherent part of our business and activities. The extent to which we properly and effectively identify, assess, monitor and manage each of the various types of risk involved in our activities is critical to our financial soundness, viability and profitability. Accordingly, we have a comprehensive risk management approach, with a formal governance structure and policies and procedures outlining frameworks and processes to identify, assess, monitor and manage risk. Principal risks involved in our business activities include market, credit, liquidity and capital, operational, legal and compliance, new business and reputational risk. Risk management is a multifaceted process that requires communication, judgment and knowledge of financial products and markets. Our risk management process encompasses the active involvement of executive and senior management, and also many departments independent of the revenue-producing business units, including the Risk Management, Operations, Information Technology, Compliance, Legal and Finance Departments. Our risk management policies, procedures and methodologies are flexible in nature and are subject to ongoing review and modification. In achieving our strategic business objectives, our risk appetite incorporates keeping our clients' interests as top priority and ensuring we are in compliance with applicable laws, rules and regulations, as well as adhering to the highest ethical standards. We undertake prudent risk-taking that protects the capital base and franchise, utilizing risk limits and tolerances that avoid outsized risk-taking. We maintain a diversified business mix and avoid significant concentrations to any sector, product, geography, or activity and set quantitative concentration limits to manage this risk. We consider contagion, second order effects and correlation in our risk assessment process and actively seek out value opportunities of all sizes. We manage the risk of opportunities larger than our approved risk levels through risk sharing and risk distribution, sell-down and hedging as appropriate. We have a limited appetite for illiquid assets and complex derivative financial instruments. We maintain the asset quality of our balance sheet through conducting trading activity in liquid markets and generally ensure high turnover of our inventory. We subject less liquid positions and derivative financial instruments to particular scrutiny and use a wide variety of specific metrics, limits, and constraints to manage these risks. We protect our reputation and franchise, as well as our standing within the market. We operate a federated approach to risk management and assign risk oversight responsibilities to a number of functions with specific areas of focus. For discussion of liquidity and capital risk management, refer to the "Liquidity, Financial Condition and Capital Resources" section herein. Governance and Risk Management Structure Our Board of Directors ("Board") and Risk and Liquidity Oversight Committee ("Committee"). Our Board and Committee play an important role in reviewing our risk management process and risk appetite. The Committee assists the Board in its oversight of: (i) the Company's enterprise risk management, (ii) the Company's capital, liquidity and funding guidelines and policies and (iii) the performance of the Company's Chief Risk Officer. Our Global Chief Risk Officer ("CRO") and Global Treasurer meet with the Committee on no less than a quarterly basis to present our risk profile and liquidity profile and to respond to questions. Our Chief Information Officer also meets with the Committee at least semi-annually to receive and review reports related to any exposure to cybersecurity risk and our plans and programs to mitigate and respond to cybersecurity risks. Additionally, our risk management team continuously monitors our various businesses, the level of risk the businesses are taking and the efficacy of potential risk mitigation strategies and presents this information to our senior management and the Committee. Our Board also fulfills its risk oversight role through the operations of its various committees, including its Audit Committee. The Audit Committee has responsibility for risk oversight in connection with its review of our financial statements, internal audit function and internal control over financial reporting, as well as assisting the Board with our legal and regulatory compliance and overseeing our Code of Business Practice. The Audit Committee is also updated on risk controls at each of its regularly scheduled meetings. Internal Audit, which reports to the Audit Committee of the Board and includes professionals with a broad range of audit and industry experience, including risk management expertise, is responsible for independently assessing and validating key controls within our risk management framework. We make extensive use of internal committees to govern risk taking and ensure that business activities are properly identified, assessed, monitored and managed. The Risk Management Committee ("RMC") and membership comprises our Chief Executive Officer, President, CFO, CRO and Global Treasurer. Our other risk related committees govern risk taking and ensure that business activities are properly managed for their area of oversight. Risk Committees. RMC - the principal committee that governs our risk taking activities. The RMC meets weekly to discuss our risk profile and discuss business or market trends and their potential impact on the business. The Committee approves our limits as a whole, and across risk categories and business lines, reviews limit breaches, and approves risk policies and stress testing methodologies and is supported by the subcommittees, e.g., Credit Committee, Model Governance Committee and Stress Testing Committee, and management forums in risk management functions. Executive Committee - provides insight, perspective and guidance for the day-to-day operations and strategic direction of their respective businesses and us as a whole. Operating Committee - brings together the managers of all control areas and the business line chief operating officers, whereby each department presents issues regarding current and proposed business. This committee provides the key forum for coordination and communication between the control managers entirely focused on our activities as a whole. Asset / Liability Committee - seeks to ensure effective management and control of the balance sheet in terms of risk profile, adequacy of capital and liquidity resources, and funding profile and strategy. The committee is responsible for developing, implementing and enforcing our liquidity, funding and capital policies. This includes recommendations for capital and balance sheet size, as well as the allocation of capital to our businesses. Independent Price Verification Committee - establishes our valuation policies and procedures and is responsible for independently validating the fair value of our financial instruments. The committee, which comprises stakeholders represented by the CFO, Internal Audit, Risk Management and Controllers, meets monthly to assess and approve the results of our inventory price testing. New Business Committee - reviews new business, products and activities and extensions of existing businesses, products and activities that may introduce materially different or greater risks than those of a business' existing activities. The new business approval process is a key control over new business activity. The objectives are to notify all relevant functions of the intention to introduce a new product, business or activity, to share information between functions and to ensure there is a thorough understanding of the proposal. Risk Considerations We apply a comprehensive framework of limits on a variety of key metrics to constrain the risk profile of our business activities. The size of the limits reflects our risk appetite for a certain activity under normal business conditions. Key metrics included in our risk management framework include inventory position and exposure limits on a gross and net basis, scenario analysis and stress tests, Value-at-Risk ("VaR"), sensitivities, exposure concentrations, aged inventory, Level 3 assets, counterparty exposure, leverage and cash capital. Market Risk Market risk is defined as the risk of loss due to fluctuations in the market value of financial assets and liabilities attributable to changes in market variables. Our market risk principally arises from interest rate risk, from exposure to changes in the yield curve, the volatility of interest rates, and credit spreads, and from equity price risks from exposure to changes in prices and volatilities of individual equities, equity baskets and equity indices. In addition, commodity price risk results from exposure to the changes in prices and volatilities of individual commodities, commodity baskets and commodity indices, and foreign exchange risk results from changes in foreign currency rates. Market risk is present in our capital markets business through market making, proprietary trading, underwriting and investing activities and is present in our asset management business through investments in separately managed accounts and direct investments in funds. Given our involvement in a broad set of financial products and markets, market risk exposures are diversified, and economic hedges are established as appropriate. Market risk is monitored and managed through a set of key risk metrics such as VaR, stress scenarios, risk sensitivities and position exposures. Limits are set on the key risk metrics to monitor and control the risk exposure ensuring that it is in line with our risk appetite. Our risk appetite, including the market risk limits, is periodically reviewed to reflect business strategy and market environment. Material risk changes, top/emerging risks and limit utilizations/breaches are highlighted, through risk reporting, and escalated as necessary. Trading is principally managed through front office trader mandates, where each trader is provided a specific mandate in line with our product registry. Mandates set out the activities, currencies, countries and products that the desk is permitted to trade in and set the limits applicable Trader Mandates Trading is principally managed through front office trader mandates, where each trader is provided a specific mandate in line with our product registry. Mandates set out the activities, currencies, countries and products that the desk is permitted to trade in and set the limits applicable to the desk. Traders are responsible for knowing their trading limits and trading in a manner consistent with their mandate. VaR VaR is a statistical estimate of the potential loss from adverse market movements over a specified time horizon within a specified probability (confidence level). It provides a common risk measure across financial instruments, markets and asset classes. We estimate VaR using a model that simulates revenue and loss distributions by applying historical market changes to the current portfolio. We calculate a one-day VaR using a one year look-back period measured at a 95% confidence level. As with all measures of VaR, our estimate has inherent limitations due to the assumption that historical changes in market conditions are representative of the future. Furthermore, the VaR model measures the risk of a current static position over a one-day horizon and might not capture the market risk over a longer time horizon where moves may be more extreme. Previous changes in market risk factors may not generate accurate predictions of future market movements. While we believe the assumptions and inputs in our risk model are reasonable, we could incur losses greater than the reported VaR. Consequently, this VaR estimate is only one of a number of tools we use in our daily risk management activities. Other Risk We are also subject to interest rate risk on our long-term fixed interest rate debt. Generally, the fair market value of debt securities with a fixed interest rate will increase as interest rates fall, and the fair market value will decrease as interest rates rise. The following table represents principal cash flows by expected maturity dates and the related weighted-average interest rate on those maturities for our consolidated long-term debt obligations, inclusive of any related interest rate hedges. For the variable rate borrowings, the weighted-average interest rates are based on the rates in effect at the reporting date. Our market risk with respect to foreign currency exposure on our long-term debt is also shown below. For additional information, see Note 17 to our consolidated financial statements. Counterparty Credit Risk Credit risk is the risk of loss due to adverse changes in a counterparty's credit worthiness or its ability or willingness to meet its financial obligations in accordance with the terms and conditions of a financial contract. We are exposed to credit risk as a trading counterparty to other broker-dealers and customers, as a counterparty to derivative contracts, as a direct lender and through extending loan commitments and providing securities-based lending and as a member of exchanges and clearing organizations. Credit exposure exists across a wide-range of products, including cash and cash equivalents, loans, securities finance transactions and over-the-counter derivative contracts. The main sources of credit risk are: Loans and lending arising in connection with our investment banking and capital markets activities, which reflects our exposure at risk on a default event with no recovery of loans. Current exposure represents loans that have been drawn by the borrower and lending commitments that are outstanding. In addition, credit exposures on forward settling traded loans are included within our loans and lending exposures for consistency with the balance sheet categorization of these items. Loans and lending also arise in connection with our portion of a Secured Revolving Credit Facility that is with us and Massachusetts Mutual Life Insurance Company, to be funded equally, to support loan underwritings by Jefferies Finance. For further information on this facility, refer to Note 9, Investments, in our consolidated financial statements included in this Annual Report on Form 10-K. In addition, we have loans outstanding to certain of our officers and employees (none of whom are executive officers or directors). For further information on these employee loans, refer to Note 25, Related Party Transactions, in our consolidated financial statements included in this Annual Report on Form 10-K. Securities and margin financing transactions, which reflect our credit exposure arising from reverse repurchase agreements, repurchase agreements and securities lending agreements to the extent the fair value of the underlying collateral differs from the contractual agreement amount and from margin provided to customers. OTC derivatives, which are reported net by counterparty when a legal right of setoff exists under an enforceable master netting agreement. OTC derivative exposure is based on a contract at fair value, net of cash collateral received or posted under credit support agreements. In addition, credit exposures on forward settling trades are included within our derivative credit exposures. Cash and cash equivalents, which includes both interest-bearing and non-interest-bearing deposits at banks. Credit is extended to counterparties in a controlled manner and in order to generate acceptable returns, whether such credit is granted directly or is incidental to a transaction. All extensions of credit are monitored and managed as a whole to limit exposure to loss related to credit risk. Credit risk is managed according to the Credit Risk Management Policy, which sets out the process for identifying counterparty credit risk, establishing counterparty limits, and managing and monitoring credit limits. The policy includes our approach for: Client on-boarding and approving counterparty credit limits; Negotiating, approving and monitoring credit terms in legal and master documentation; Determining the analytical standards and risk parameters for ongoing management and monitoring credit risk books; Actively managing daily exposure, exceptions and breaches; and Monitoring daily margin call activity and counterparty performance. Counterparty credit exposure limits are granted within our credit ratings framework, as detailed in the Credit Risk Management Policy. The Credit Risk Department assesses counterparty credit risk and sets credit limits at the counterparty master agreement level. Limits must be approved by appropriate credit officers and initiated in our credit and trading systems before trading commences. All credit exposures are reviewed against approved limits on a daily basis. Our Secured Revolving Credit Facility, which supports loan underwritings by Jefferies Finance, is governed under separate policies other than the Credit Risk Management Policy and is approved by our Board. The loans outstanding to certain of our officers and employees are extended pursuant to a review by our most senior management. Model Risk Model risk refers to the risk of losses resulting from decisions that are based on the output of models, due to errors or weaknesses in the design and development, implementation, or improper use of models. We use quantitative models primarily to value certain financial assets and liabilities and to monitor and manage our risk. Model risk is a function of the model materiality, frequency of use, complexity and uncertainty around inputs and assumptions used in a given model. Robust model risk management is a core part of our risk management approach and is overseen through our risk governance structure and risk management controls. Legal and Compliance Risk Legal and compliance risk includes the risk of noncompliance with applicable legal and regulatory requirements. We are subject to extensive regulation in the different jurisdictions in which we conduct our business. We have various procedures addressing issues such as regulatory capital requirements, sales and trading practices, use of and safekeeping of customer funds, credit granting, collection activities, anti-money laundering and record keeping. These risks also reflect the potential impact that changes in local and international laws and tax statutes have on the economics and viability of current or future transactions. In an effort to mitigate these risks, we continuously review new and pending regulations and legislation and participate in various industry interest groups. We also maintain an anonymous hotline for employees or others to report suspected inappropriate actions by us or by our employees or agents. New Business Risk New business risk refers to the risks of entering into a new line of business or offering a new product. By entering a new line of business or offering a new product, we may face risks that we are unaccustomed to dealing with and may increase the magnitude of the risks we currently face. The New Business Committee reviews proposals for new businesses and new products to determine if we are prepared to handle the additional or increased risks associated with entering into such activities. Reputational Risk We recognize that maintaining our reputation among clients, investors, regulators and the general public is an important aspect of minimizing legal and operational risks. Maintaining our reputation depends on a large number of factors, including the selection of our clients and the conduct of our business activities. We seek to maintain our reputation by screening potential clients and by conducting our business activities in accordance with high ethical standards. Our reputation and business activity can be affected by statements and actions of third-parties, even false or misleading statements by them. We actively monitor public comment concerning us and are vigilant in seeking to assure accurate information and perception prevails. Oct 27, 2022: Boeing has been issued 7 patents focused on "additive manufacturing" in 12 months Boeing (NYSE:BA), the NYSE's largest Aerospace company by market cap has been issued one patent in the last month focused on "additive manufacturing", bringing the total patents on "additive manufacturing" to 7 in the last 12 months. Oct 27, 2022: Boeing has been issued 7 patents focused on "computing device" in 12 months Boeing (NYSE:BA), the NYSE's largest Aerospace company by market cap has been issued 2 patents in the last month focused on "computing device", bringing the total patents on "computing device" to 7 in the last 12 months. Oct 27, 2022: Boeing has been issued 16 patents focused on "graphical user interface" in 12 months Boeing (NYSE:BA), the NYSE's largest Aerospace company by market cap has been issued one patent in the last month focused on "graphical user interface", bringing the total patents on "graphical user interface" to 16 in the last 12 months. Oct 27, 2022: Boeing has been issued 8 patents focused on "control system" in 12 months Boeing (NYSE:BA), the NYSE's largest Aerospace company by market cap has been issued one patent in the last month focused on "control system", bringing the total patents on "control system" to 8 in the last 12 months. Sep 13, 2022: Boeing Reveals First of New Innovative Defense Factories MESA, Ariz., Sept. 13, 2022 - Boeing's (NYSE: BA) Defense, Space & Security (BDS) business unit unveiled on Sept. 12 its new Advanced Composite Fabrication Center, which has been purpose-built to produce advanced composite components for future combat aircraft. The new facility in Mesa, Ariz., will be a secure production facility operated by Phantom Works, BDS' proprietary research, development and prototyping division. The construction phase of the 155,000 square-foot facility is now complete, and the center is expected to be fully operational this fall. "Boeing pioneered a new era of digital aerospace engineering on programs like the T-7, MQ-25 and MQ-28, and now we're leading the way again by digitally transforming our entire production system to build the next generation of advanced combat aircraft," said Ted Colbert, Defense, Space & Security president and CEO. "The new Advanced Composite Fabrication Center and the factories that will follow it position Boeing to deliver the most digitally advanced, simply and efficiently produced and intelligently supported aircraft to military customers." Leveraging best practices from recent new-start programs like the MQ-28 Ghost Bat, MQ-25 Stingray, T-7A Red Hawk and proprietary efforts, the ACFC will enable Boeing to scale a platform-agnostic, modular and flexible digital production system across future BDS programs, providing unprecedented speed, agility and cost efficiency. Additional new factories supporting subsequent phases of production are under construction in the St. Louis region and slated to come online over the next few years. Source: Company Website Sep 08, 2022: Boeing says it stopped buying aluminum from Russia in March Sept 7 (Reuters) - Boeing Co BA.N stopped buying aluminum from Russia in March, the planemaker said late on Tuesday, as it suspended operations in the sanctions-hit country. It is the second important metal that Boeing has stopped sourcing from Russia this year. The company had said in March that it had suspended buying titanium from Russia, another metal prized in aerospace for its strength relative to its weight and its compatibility with the latest generation of carbon-fibre, long-distance passenger jets. Aluminum is a metal of choice for planemakers looking to make fuel-efficient aircraft, given that it is lightweight, strong and does not corrode easily. "We source aluminum from around the world, including in the U.S.," a Boeing spokesperson said in an emailed statement without giving further details. The suspension of purchases comes amid Boeing's struggles to raise production of 737 MAX jets due to parts and worker shortages, as it works to hit a target of positive free cash flow for 2022. Russia's Rusal is the world's largest aluminum producer outside China. It supplies the world with 6% of its primary aluminum needs, estimated by analysts at around 70 million tonnes this year. Source: Nasdaq Sep 08, 2022: Old Video Of Boeing 747 Overtaking 737 Takes Internet By Storm An incredible video of a Boeing 747 overtaking a Boeing 737 is gaining traction online. The video has been captured by pilots of a Boeing 777 over Baghdad, according to the description of the video on social media platforms. Some users on Reddit pointed out that the footage is at least 10 years old, but the clip has given an adrenalin rush to aviation enthusiasts and other social media users. The 35-second clip starts with the Boeing 737 heading to its destination. Soon, the 747 plane enters the frame and rapidly closes the gap. Since the plane was closer to the 777 shooting the video, it appears wider than the Boeing 737, which seen between the exhaust gas coming out of 747. Source: NDTV.com Sep 08, 2022: Boeing bullish on Indian market despite challenges India's airlines will lead air traffic growth through 2040, growing at a rate of 6.9 per cent. The growth for the South East Asia market is pegged at 5.5 per cent, China (5.4 per cent), Africa (5.4 per cent) and Latin America (4.8 per cent), Boeing said in a presentation. The projection is based on an over 20-year horizon and the growth could be much higher in the near term. Besides, the company said Indian airlines are projected to see massive growth in terms of seats offered. Boeing, which has around 90 per cent global market share in cargo, expects to play a large part in India's cargo market Boeing said that fuel prices, 70 per cent of an airline's operational costs being priced in foreign currency and the lowest average fares for similar distances and demands are among the major challenges in India. As per the aircraft maker, its 737-10 plane with 9 per cent lower seat costs will help enable a strong aviation market with sustainable low fares. Source: BizzBuzz Sep 08, 2022: Short-Term Catalysts Playing Out for Boeing - BofA A BofA Securities analyst increased the firm's price target on Boeing (NYSE:BA) shares to $175 from $170, reiterating a Neutral rating in a note to clients Wednesday. He wrote in a note to clients that there are short-term catalysts playing out for Boeing, namely, 737 Max and 787 deliveries, although there remain "many medium and longer-term challenges." "We believe that BA has become, in many ways, a fallen angel. Conversations with investors focus equally on the balance sheet and income statement. Once a darling name in the A&D world, BA is now widely seen as a turnaround story, a possible value-play or even a value-trap," said the analyst. Elsewhere Wednesday, a Wells Fargo analyst maintained an Overweight rating and $210 price target on Boeing in his note to investors. "We think BA will continue to grow despite a difficult economic backdrop as aircraft production recovers from still depressed levels, and unwinding working capital should unlock cash flow in 2023 and beyond, allowing the company to de-lever," said the analyst. "We think China will need to return 737 MAX to service soon to support its passenger travel needs, however we see upside to current 31/month rates on MAX even without China recertification." Source : Investing.com Sep 08, 2022: INROADS Appoints Boeing Executive and INROADS Alumna as Newest National Board of Directors Member ATLANTA, Sept. 7, 2022 /PRNewswire/ -- INROADS recently named Niki Allen, an executive for The Boeing Company and INROADS graduate, as the latest member of its National Board of Directors. Allen is an accomplished technology professional with more than 20 years of extensive experience in digital transformation in the aerospace, defense, and retail sectors. Technology strategy, architectural design, data analytics, large-scale technology implementation, IT operations, and cybersecurity are all areas of expertise for her. Niki Allen becomes INROADS newest board member. Niki Allen becomes INROADS newest board member. As an undergraduate intern, Allen's time in the INROADS program served as excellent preparation for her current position leading the delivery of technology infrastructure, operations, cloud computing, and workplace solutions to more than 140,000 people across 65 countries, at one of the world's largest aerospace and defense companies. "I'm proud to be an INROADS alumna and I am honored to give back to the organization as a member of the National Board of Directors," said Allen, Boeing's Chief Information Technology & Operations Officer and Vice President of Enterprise Infrastructure and Operations. Niki Allen is a huge advocate for INROADS because she sees the exponential impact they make on the lives of everyone they serve. Shown through experience, the effect of INROADS goes well beyond the talented young men and women who participate in them. It extends throughout their families, organizations, and communities. "We should not pick and choose when best to promote and champion diversity because by then it is too late," she said. "It must be an essential part of our societal and organizational fabric. an imperative that we simply cannot live without." In 2021, Blacks in Technology Inc. recognized Allen's contributions and outreach in STEM by including her on their Top 100 in Technology list. She continues to remain a diversity advocate and currently serves as the Executive Sponsor for the Boeing Women in Leadership Program and the Boeing Potomac Region Diversity Council. "Mrs. Allen is a testament to the impact of the INROADS program," said Forest T. Harper, Jr., President and CEO, INROADS. "Her contributions to the National Board will be immeasurable in our growth and continuing success in cultivating the next generation of leaders." Source: PR Newswire Sep 08, 2022: Boeing Stock Is A Better Pick Over This Aerospace & Defense Company We believe that Boeing stock (NYSE: BA) is currently a better pick than Raytheon Technologies stock (NYSE: RTX), given its better prospects. Although BA stock is trading at a comparatively lower valuation of 1.5x trailing revenues vs. 2.0x ZRX +6.3% for Raytheon, this gap in the valuation of these two companies is justified given Raytheon's superior revenue growth and profitability, as discussed below. Looking at stock returns, Raytheon has fared better than BA and the broader indices. RTX stock is up 2% YTD, BA is down 25%, and the S&P500 index has declined 18%. While both companies will likely see top-line expansion over the coming years, Boeing BA +2.3% is expected to outperform. There is more to the comparison, and in the sections below, we discuss why we believe BA stock will offer better returns than RTX stock in the next three years. We compare a slew of factors such as historical revenue growth, returns, and valuation multiple in an interactive dashboard analysis of Boeing vs. Raytheon Technologies RTX +0.3%: Which Stock Is A Better Bet? Parts of the analysis are summarized below. Source: Forbes Sep 07, 2022: Boeing announces expansion to its Advanced Manufacturing Innovation Center ST. LOUIS - Boeing in Arlington, Va., has announced that it is investing $5 million to help expand the Advanced Manufacturing Innovation Center in St. Louis (AMICSTL). The company says its investment will help fund a state-of-the-art advanced manufacturing facility, accelerate workforce development programs, and grow the region's talent pipeline and technical and manufacturing abilities. St. Louis-area economic development and business leaders established AMICSTL in 2020. The new 130,000 square-foot advanced manufacturing facility will house workforce development programs, leading-edge R&D, and prototyping/production capacity spanning multiple "vertical" capabilities, including aerospace, ag tech, automotive, biomedical, construction, geospatial, and logistics. Boeing and AMICSTL's partnership aims to establish St. Louis' North Central Corridor as an advanced manufacturing innovation and technology hub over the next decade by creating one central site, with an expandable campus, that can support the entire advanced manufacturing process from conception to production. The new facility will be located near the triangle that consists of the Cortex, an innovation community, NGA West, the new National Geospatial-Intelligence Agency facility, and the Ranken Technical College campus. In addition to Boeing's five-year investment, Boeing Phantom Works Vice President Steve Nordlund will join the AMICSTL Board of Directors. Longtime Boeing St. Louis executive Kory Mathews, who is retiring from Boeing later this year, will serve as AMICSTL's interim CEO. Source: Military Aerospace Sep 07, 2022: Digital simulation tests aerial control of autonomous MQ-25 using open architecture A Boeing simulation has demonstrated the digital systems and software that will allow the company's MQ-25 Stingray autonomous refueller to be controlled from the air. The airframer said on 6 September that a Boeing-led team, working in a lab, showed how three different simulated aircraft could use their existing operational flight software and data links to task four virtual MQ-25s to conduct intelligence, surveillance and reconnaissance missions. Boeing says this capability will be essential in furthering the US Navy (USN) goal of pairing autonomous, unmanned platforms with conventional, manned aircraft - a concept the military calls manned/unmanned teaming (MUM-T). Source: FlightGlobal Sep 07, 2022: LATAM Cargo to add another Boeing 767 freighter LATAM Cargo will add an additional Boeing 767-300F before the end of 2022, bringing its fleet to 16 freighters of the model. This aircraft will allow us to further strengthen our value proposition through a broader and deeper network. The combination of size and competitiveness of the B767-300F allows us to offer our customers more and better route options, commented LATAM Cargo CEO Andres Bianchi. Source: Aviacionline.com Sep 07, 2022: Yocova: Boeing Eyes Digitalization and Services Opportunities Boeing recently announced more services and digital solutions contracts than it did widebody airliner contracts. So Yocova, the end-to end platform for innovation in aviation, took the opportunity to ask senior vice president of commercial sales and marketing Ihssane Mounir some questions about Boeing's services and digital strategy - but first, those digital and services orders. Recently announced were a raft of deals spanning large full-service airlines to low-cost carriers, startups and micro-airlines, highlighting just how important this digital and services sector is becoming to all parts of commercial aviation. Air France is taking Boeing's Jeppesen Crew Management solution on a five-year contract basis to optimize and manage some 13,000 crew schedules. The solution, Boeing says, "leverages an industry-leading optimization engine to construct productive and balanced crew rosters by considering complex factors such as legal requirements, training, crew availability, crew preferences, reserves and other critical factors. The powerful optimizers allow for faster roster construction, closer to the day of operation, which support greater operational stability and opportunities to capture additional revenue." Source : Aviation Pros Sep 07, 2022: U.S. shares lower at close of trade; Dow Jones Industrial Average down 0.55% Investing.com - U.S. equities were lower at the close on Tuesday, as losses in the Oil & Gas, Telecoms and Technology sectors propelled shares lower. At the close in NYSE, the Dow Jones Industrial Average declined 0.55% to hit a new 1-month low, while the S&P 500 index declined 0.41%, and the NASDAQ Composite index fell 0.74%. The biggest gainers of the session on the Dow Jones Industrial Average were Visa Inc Class A (NYSE: V ), which rose 0.45% or 0.88 points to trade at 198.64 at the close. Boeing Co (NYSE: BA ) added 0.38% or 0.57 points to end at 152.39 and Johnson & Johnson (NYSE: JNJ ) was up 0.27% or 0.44 points to 163.18 in late trade. Biggest losers included 3M Company (NYSE: MMM ), which lost 4.15% or 5.05 points to trade at 116.60 in late trade. Intel Corporation (NASDAQ: INTC ) declined 2.75% or 0.86 points to end at 30.36 and Goldman Sachs Group Inc (NYSE: GS ) shed 1.51% or 4.99 points to 326.49. The top performers on the S&P 500 were Rollins Inc (NYSE: ROL ) which rose 6.05% to 35.78, Enphase Energy Inc (NASDAQ: ENPH ) which was up 4.93% to settle at 292.82 and SolarEdge Technologies Inc (NASDAQ: SEDG ) which gained 4.22% to close at 278.38. The worst performers were Moderna Inc (NASDAQ: MRNA ) which was down 6.13% to 130.08 in late trade, Church & Dwight Company Inc (NYSE: CHD ) which lost 4.69% to settle at 80.23 and 3M Company (NYSE: MMM ) which was down 4.15% to 116.60 at the close. The top performers on the NASDAQ Composite were Shuttle Pharmaceuticals Inc (NASDAQ: SHPH ) which rose 91.28% to 28.50, IVERIC bio Inc (NASDAQ: ISEE ) which was up 66.31% to settle at 15.70 and HyreCar Inc (NASDAQ: HYRE ) which gained 58.12% to close at 1.27. The worst performers were Creatd Inc (NASDAQ: CRTD ) which was down 48.11% to 0.19 in late trade, Addentax Group Corp (NASDAQ: ATXG ) which lost 39.52% to settle at 5.80 and Rigetti Computing Inc (NASDAQ: RGTI ) which was down 37.09% to 2.29 at the close. Declining stocks outnumbered rising ones by 2121 to 1009 and 117 ended unchanged; on the Nasdaq Stock Exchange, 2468 fell and 1299 advanced, while 194 ended unchanged on the New York Stock Exchange. The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was up 3.54% to 26.91 a new 1-month high. In commodities trading, Gold Futures for December delivery was down 0.63% or 10.85 to $1,711.75 a troy ounce. Meanwhile, Crude oil for delivery in October fell 0.10% or 0.09 to hit $86.78 a barrel, while the November Brent oil contract fell 3.16% or 3.03 to trade at $92.71 a barrel. EUR/USD was unchanged 0.24% to 0.99, while USD/JPY rose 1.58% to 142.80. The US Dollar Index Futures was up 0.66% at 110.24. Source: Investing.com Sep 07, 2022: Boeing Invests in Industrial AI Startup Amygda To Reduce the Carbon Impact of Transport Industries London, United Kingdom ~ Industrial AI startup Amydga announced two major players in the transport industry join them as investors - global aerospace company Boeing and UAE's Tawazun Economic Council (Tawazun). The investment worth Pound200K will accelerate Amygda's product development, and offer access to Boeing's strategic expertise. According to Amydga's founder and CEO Faizan Patankar, the new investment worth Pound200K will also help the company to continue focusing on the aerospace and rail market. "The funding will help us experiment and validate with existing customers, whilst accelerating product development. We can now leverage more strategic expertise in analyzing maintenance data and reducing the embedded-carbon impact of transport industries, through better asset utilization," Patankar told The Recursive. The UK-based startup uses AI and machine learning to optimize asset efficiency and remove unplanned maintenance. Last year, Amygda was also supported by Sofia-based VC BrightCap Ventures and launched a tech hub in Bulgaria. Expanding into new regions The startup previously collaborated with Boeing as one of 10 selected startups to join the Aerospace Xelerated Cohort 3 that focused on artificial intelligence (AI) and autonomous technology in aerospace. Founded by ex-Rolls-Royce engineers, Amygda has customers in the aerospace, rail, and industrial sectors in the UK and US, and is now expanding into new regions and markets such as the Middle East. Amydga's other new investor Tawazun develops and manages industrial partnerships to the benefit of the UAE's sovereignty and wider economic impact and prosperity. The Tawazun Economic Program assists and enables local suppliers, SMEs and startups to get all the necessary conditions for their autonomous economic activities. For Amydga, the latest investment also demonstrates the continuation of cooperation with Boeing, while also onboarding a new regional investor and partner in Tawazun Economic Council. "We still have a buzz working around operations and maintenance - it's not the most glamorous topic, but it's a behemoth of a topic! Having the backing of Boeing and Tawazun enables us to make progress in new regions, which is always exciting," Patankar emphasized. Source: The Recursive Sep 07, 2022: Boeing Stock Is A Better Pick Over This Aerospace & Defense Company We believe that Boeing stock (NYSE: BA) is currently a better pick than Raytheon Technologies stock (NYSE: RTX), given its better prospects. Although BA stock is trading at a comparatively lower valuation of 1.5x trailing revenues vs. 2.0x for Raytheon, this gap in the valuation of these two companies is justified given Raytheon's superior revenue growth and profitability, as discussed below. Looking at stock returns, Raytheon has fared better than BA and the broader indices. RTX stock is up 2% YTD, BA is down 25%, and the S&P500 index has declined 18%. While both companies will likely see top-line expansion over the coming years, Boeing is expected to outperform. There is more to the comparison, and in the sections below, we discuss why we believe BA stock will offer better returns than RTX stock in the next three years. We compare a slew of factors such as historical revenue growth, returns, and valuation multiple in an interactive dashboard analysis of Boeing vs. Raytheon Technologies: Which Stock Is A Better Bet? Parts of the analysis are summarized below. 1. Raytheon's Revenue Growth Is Better Raytheon's revenue growth of 4.8% over the last twelve months is better than a 1.5% fall in Boeing's sales. Looking at a longer time frame, Boeing's sales declined at an average rate of 13.7% to $62.3 billion in 2021, compared to $101.1 billion in 2018, while Raytheon saw its sales rise at an average growth rate of 23.1% to $64.4 billion in 2021, compared to $34.7 billion in 2018. The revenue decline for Boeing can primarily be attributed to the impact of the 737 Max grounding in 2019 and the Covid-19 pandemic on the company's businesses, given that commercial airlines was one of the worst-hit sectors during the coronavirus crisis. Commercial Airplanes was the largest segment for Boeing, accounting for 57% of total sales in 2018, but the contribution dropped to 31% in 2021. Defense, Space & Security Systems is now the largest segment for the company, accounting for 42% of the total sales. Boeing, over the recent past, has struggled to ramp up its production, impacting its deliveries. Supply chain disruption and labor issues for some of its suppliers further added to its woes. Raytheon has undergone significant restructuring over recent years. United Technologies merged with Raytheon to form Raytheon Technologies in 2020. Furthermore, it spun off its OTIS and Carrier businesses, making Raytheon purely an aerospace and defense-focused company. Raytheon's commercial airplane business was also hit during the pandemic weighing on its commercial OEM and aftermarket sales. However, there are near-term headwinds for both companies. The current high inflationary environment, rising interest rates, and fears of a slowing economy have weighed on the broader markets. Boeing is focused on increasing its overall production, and this, clubbed with its new orders, including a $13 billion order from Delta, will likely support its revenue growth. Our Boeing Revenue and Raytheon Technologies Revenue dashboards provide more insight into the companies' sales. Looking forward, Boeing's revenue is expected to grow faster than Raytheon's over the next three years. The table below summarizes our revenue expectations for the two companies over the next three years. It points to a CAGR of 9.9% for Boeing, compared to just a 1.6% CAGR for Raytheon, based on Trefis Machine Learning analysis. Note that we have different methodologies for companies that are negatively impacted by Covid and those that are not impacted or positively impacted by Covid while forecasting future revenues. For companies negatively affected by Covid, we consider the quarterly revenue recovery trajectory to forecast recovery to the pre-Covid revenue run rate. Beyond the recovery point, we apply the average annual growth observed three years before Covid to simulate a return to normal conditions. For companies registering positive revenue growth during Covid, we consider yearly average growth before Covid with a certain weight to growth during Covid and the last twelve months. Source: Trefis Sep 06, 2022: Airline Norwegian Celebrates 20 Years, Returns To Profit On September 1, 2002, Norwegian Air Shuttle took to the skies with a Boeing 737 from Oslo to Bergen, Norway's two biggest cities. Few could have predicted that the airline would go on to fly 15 million passengers on that one route alone over the following 20 years. The Norwegian of today is a very different airline having been on a turbulent ride of growth and financial troubles. Its budget long-haul operation was popular with passengers but stretched the company's finances to the verge of bankruptcy. Only a total corporate restructure under bankruptcy protection saved the airline and steered it through the global pandemic. The Norwegian that emerged is leaner and more focused on Scandinavia, but as it posts its first profitable quarter since 2019, the airline once again has growth in mind. Source: Forbes Sep 06, 2022: U.S. Government Going After $45 Million Russian Airplane Last Seen in Houston Sep. 3-The U.S. plans to seize a $45 million airplane owned a multinational oil-and-gas corporation based in Moscow. The seizure of Russian energy company PJSC LUKOIL plane was authorized by the U.S. District Court for the Southern District of Texas, according to a news release. The court fond probable cause that the Boeing 737-7EM aircraft violated federal law. "We'll continue to go after individuals who insist on helping Russia advance its hostile and illegal activities, and we'll continue to seize their valuable possessions, wherever they may be," said Special Agent in Charge James Smith of the FBI Houston Field Office. The Boeing last flew in the United States in March 2019, when it arrived in Houston with a Russian oligarch - then LUKOIL president and CEO Vagit Alekperov. Since September 2014, LUKOIL has been subject to sectoral sanctions imposed by the Department of the Treasury's Office of Foreign Assets Control. MORE IN POLITICS: Harris County leader shames Sen. Bettencourt over $623,000 PPP loan: 'Is this you?' The Department of Commerce issued sanctions earlier this year in response to Russia's invasion of Ukraine. As a result, the sanctions imposed license requirements and export controls. They also expanded prohibitions on the export, reexport or in-country transfer of U.S.- manufactured aircraft to or within Russia without a valid license or license exception, as said in the news release. The plane is believed to be in Russia now. The FBI and Department of Commerce had to unravel a series of shell companies to determine the alleged illegal activity. "By aggressively pursuing the seizure of these assets, we have sent a resounding message to sanctions violators and third-party facilitators around the globe that we are committed to targeting any individual or entity that seeks to blatantly skirt the sanctions, export controls and license requirements imposed by the United States in response to Russia's unprovoked military invasion of Ukraine," said Special Agent in Charge Mark Dawson, HSI Houston. Source: Aviation Pros Sep 06, 2022: Sampo plc: Disclosure Under Chapter 9 Section 5 of the Securities Market Act (BlackRock, Inc.) Sampo plc: Disclosure Under Chapter 9 Section 5 of the Securities Market Act (BlackRock, Inc.) Sampo plc (business code 0142213-3) has received a disclosure under Chapter 9, Section 5 of the Securities Markets Act, according to which the total number of voting rights attached to Sampo A shares (ISIN: FI009003305) owned directly, indirectly or through financial instruments by BlackRock, Inc. (USA tax ID 32-0174421) and its funds increased on 2 September 2022 above five (5) per cent of Sampo plc's total voting rights. In addition, the disclosure obligation arose due to the A shares and voting rights owned directly or indirectly by BlackRock, Inc. and its funds increasing above five (5) per cent of all Sampo plc's shares and voting rights. Sampo's share capital comprises 533,261,351 shares, of which 533,061,351 are A shares and 200,000 are B shares. Each A share entitles its holder to one (1) vote and each B share to five (5) votes. Thus, the total number of votes is 534,061,351. Source: GlobeNewswire Sep 06, 2022: Inside Texas' attempt to turn ESG upside down Texas is turning parts of Wall Street's green rating system against itself. The gambit - aimed at financial firms that "boycott" energy companies, Texas officials said - has drawn applause from Republicans opposed to the growing field of ESG investing. But Texas' anti-ESG purge sets a dangerous precedent, experts warn, by empowering state officials to weaponize public retirement funds and other state money against political adversaries. It's also already costing cities and workers millions of dollars, they said, while adding a distorting pressure to the economic data that underpins global finance. Source: E&E News Sep 06, 2022: First flights scheduled for Lufthansa's Boeing 787 On August 30, Lufthansa finally took delivery of its first Boeing 787 Dreamliner, nicknamed Berlin and registered as D-ABPA, out of a total of 32 aircraft ordered. According to the company's reservation system, starting October 19 the 787 will begin connecting its two main hubs, namely Frankfurt (FRA) and Munich (MUC). It will have between two and three daily flights each way out of eleven services per day offered by the company between the two German cities. Lufthansa said that this schedule will continue until December, and that these are domestic flights to familiarize crews, ground operators and pilots with the aircraft, as a preliminary step to its introduction in the segment for which it was ordered: intercontinental flights. Aviacionline.com Sep 06, 2022: Global Virtual Training and Simulation Market (2022 to 2027) - Featuring CAE, Cubic, ECA Group and Elbit Systems Among Others DUBLIN, Sept. 6, 2022 /PRNewswire/ -- The "Global Virtual Training and Simulation Market (2022-2027) by Component, End-user, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering. The Global Virtual Training and Simulation Market is estimated to be USD 305.6 Bn in 2022 and is expected to reach USD 565.79 Bn by 2027, growing at a CAGR of 13.11%. Market dynamics are forces that impact the prices and behaviors of the Global Virtual Training and Simulation Market stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals. As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding the growth and reducing the risks. Company Profiles The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Raytheon Technologies, Lockheed Martin, CAE, Saab, Rheinmetall, Bae Systems, St Engineering, The Boeing Company, Northrop Grumman, etc. Source: PR Newswire Sep 05, 2022: SpaceX sends Starlink satellites, Boeing demonstrator into orbit on 40th launch of 2022 SpaceX has completed its 40th Falcon 9 launch of 2022, delivering a new batch of Starlink satellites and Boeing demonstration satellite into orbit. Right on schedule, Falcon 9 lifted off from SpaceX's Cape Canaveral Space Force Station (CCSFS) LC-40 pad at 10:09 pm EDT, Sunday, September 4th. The rocket's reused booster and fairing and new upper stage performed as expected, continuing Falcon 9's unprecedented streak of 149 successful launches. Flying for the seventh time overall, former Falcon Heavy booster B1052 performed flawlessly after a quick 31-day turnaround and touched down on SpaceX drone ship Just Read The Instructions' (JRTI) deck several hundred miles downrange less than nine minutes after liftoff. Flying for the fourth and fifth times, the Starlink 4-20 mission's Falcon 9 fairing halves also worked as expected on ascent. SpaceX does not discuss fairing recovery but both halves likely deployed parafoils after reenter Earth's atmosphere and gently splashed down in the Atlantic Ocean. SpaceX support ship Doug will eventually fish them out of the water for reuse. By Eric Ralph Posted on September 4, 2022 SpaceX has completed its 40th Falcon 9 launch of 2022, delivering a new batch of Starlink satellites and Boeing demonstration satellite into orbit. Right on schedule, Falcon 9 lifted off from SpaceX's Cape Canaveral Space Force Station (CCSFS) LC-40 pad at 10:09 pm EDT, Sunday, September 4th. The rocket's reused booster and fairing and new upper stage performed as expected, continuing Falcon 9's unprecedented streak of 149 successful launches. Flying for the seventh time overall, former Falcon Heavy booster B1052 performed flawlessly after a quick 31-day turnaround and touched down on SpaceX drone ship Just Read The Instructions' (JRTI) deck several hundred miles downrange less than nine minutes after liftoff. Flying for the fourth and fifth times, the Starlink 4-20 mission's Falcon 9 fairing halves also worked as expected on ascent. SpaceX does not discuss fairing recovery but both halves likely deployed parafoils after reenter Earth's atmosphere and gently splashed down in the Atlantic Ocean. SpaceX support ship Doug will eventually fish them out of the water for reuse. Not merely a Starlink mission, Starlink 4-20 was SpaceX's sixth Starlink rideshare. Sitting atop the stack of 51 Starlink V1.5 satellites was an experimental spacecraft built by Spaceflight Inc. Known as Sherpa-LTC2, Spaceflight and partner Astro Digital turned the orbital transfer vehicle (space tug) into a satellite for customer Boeing. The purpose: carry and test a prototype communications payload built by Astro Digital and designed to verify new V-band communications technologies for a planned constellation of Boeing satellites in Low Earth Orbit (LEO). The US Federal Communications Commission (FCC) approved Boeing's plans for a 147-satellite V-band constellation in November 2021. It's unclear what the purpose of the constellation would be or if Boeing already has customers or partners lined up. The prototype spacecraft built by Spaceflight and Astro Digital - known as Varuna in recent FCC filings - will be crucial for determining the constellation's future. Boeing wants to use a swath of spectrum known as the V-band that has a higher frequency than the Ku and Ka bands commonly used by most other communications satellites. A higher frequency could mean higher connection speeds and more available bandwidth, but V-band radio waves tend to struggle to pierce through rain and other adverse weather conditions. Source: Teslarati Sep 05, 2022: Pontifications: Some customers face 3 month delays in current 737 MAX delivery stream Boeing has been delivering 737s from its stored inventory and its new production line more slowly than desired. Some customers face a three-month delay, even as Boeing tries to return to normalcy following the 21-month grounding of the MAX and the impact of the two-year pandemic. The supply chain is a key culprit. Reconfiguring stored airplanes for lessees or buys after a change from the original operator is another. Engine shortages are still another. BOC Aviation, a lessor headquartered in Singapore, faces three months delays, Robert Martin, the CEO, said in an interview with LNA. What's behind the delays "It's a mixture of things. The first thing is the engines," Martin said. "There's been a delay in engines, and this is not just a Boeing problem, let's be clear. Airbus has the same problem. Basically, the numbers of engines that they have available to put on the aircraft that are being built are not sufficient. There are different reasons for that." Martin said some are due to issues at the engine manufacturer and their own supply chain behind them. Some issues even go back as far as the forging of the shafts for the engines. "It's all the way down the supply chain. The second thing is we've seen a lot of supply chain problems. People didn't realize how quickly things were going to gear back up. [The industry] laid off a lot of labor during the downturn. Attracting that labor to come back has been more difficult. This has caused supply chain disruption, and of course, spare parts as well. Parts to go on the engines and further down the supply chain have also had some problems." Return to Service from Storage Martin affirmed previous LNA reporting that it takes time to bring the 737s out of storage. Depending on whether they're going to the original customer or whether they're going to a different customer, work may need to be done on the aircraft. There's just not enough labor to do that additional work, he said. "When Boeing's working normally, you probably have sufficient capacity to be able to do that with the strains they're under at the moment. If you ask them to do something additional, it just takes longer, as opposed to the paperwork, and to do the physical work itself. "We've tried to absolutely minimize the customization because we know it will take a long time to get the work done. I think of the situations we've been in where we've taken a plane that was destined for one customer and getting to another customer. "But the main things generally we're looking for is changes in maximum takeoff weight, maybe engine thrust. We've tried to limit it after that because we're aware that it does take paperwork changes," Martin said. Another lessor told LNA that it's sometimes seen Boeing take as long as nine months to process the paperwork on its airplanes for changes. Martin said that sometimes BOC Aviation saw delays from Boeing Global Services (BGS). "But that's tended to be for us more to used aircraft than aircraft in production." Redirecting aircraft from China BOC Aviation is owned by the Bank of China but is a Singapore company. Accordingly, it doesn't face the same import restrictions Chinese lessors do. Nevertheless, some of its aircraft originally destined for China have been redirected to other lessees. It's also helped Boeing redirect aircraft that became surplus to the original buyer. "We've worked with Boeing when they've got excesses of aircraft," Martin said. "We've been doing this over the last two years, picking up aircraft that may have been surplus to airline's requirements." The aircraft were placed outside China. There's no reason why BOC Aviation couldn't do so with China as well, placing the aircraft with other carriers. 787 inventory Boeing had about 120 787s that were accumulated during the delivery pause. (Deliveries resumed in August, with about a half-dozen tendered to buyers so far.) John Plueger, the CEO of Air Lease Corp, had said publicly that he wouldn't be surprised if up to 50% of those airplanes wound up being canceled by customers. Martin couldn't affirm this observation, but clearly, the delays give the customers the right to do so. BOC Aviation canceled three orders during the nearly two-year pause in deliveries. Source: Leeham News Sep 05, 2022: Aerospace Company Expands Ebbw Vale Studio and Praises Local Skills A world-leading aerospace company has boosted its presence in South Wales and praised the calibre of engineers to be found here. Adient Aerospace, which has its headquarters in Washington, designs and makes luxury seating and furniture for Business and Economy Class, and has quadrupled its office and workshop space at Ebbw Vale Innovation Centre, (EVIC). Ex-steelworker, Phil Owens, who is in charge of Adient's Ebbw Vale design studio at EVIC, is delighted with the facilities, and says the Innovation Centre has proved to be the perfect home for the prestigious international company. EVIC is owned and run by UKSE, a subsidiary of Tata Steel. "We have increased our space here four-fold since we arrived, and now have a team of 24 here in five offices and a workshop, and this skilled team works on design and development of furniture and seating. UKSE has been very flexible and supportive, working with us to adapt to our needs, and this has helped enormously Source: Business News Wales Sep 05, 2022: Insights on the Virtual Training and Simulation Global Market to 2027 - Increase in Awareness about Virtual Training and Simulation is Driving Growth - ResearchAndMarkets.com The "Global Virtual Training and Simulation Market (2022-2027) by Component, End-user, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering. "Global Virtual Training and Simulation Market (2022-2027) by Component, End-user, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" Tweet this The Global Virtual Training and Simulation Market is estimated to be USD 305.6 Bn in 2022 and is expected to reach USD 565.79 Bn by 2027, growing at a CAGR of 13.11%. Market dynamics are forces that impact the prices and behaviors of the Global Virtual Training and Simulation Market stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals. As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding the growth and reducing the risks. Competitive Quadrant The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc. Ansoff Analysis The report presents a detailed Ansoff matrix analysis for the Global Virtual Training and Simulation Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach. The analyst analyses the using the Ansoff Matrix to provide the best approaches a company can take to improve its market position. Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth. Why buy this report? The report offers a comprehensive evaluation of the Global Virtual Training and Simulation Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies. The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry. The report includes an in-depth market analysis using Porter's 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report. The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies. The report also contains the competitive analysis using Positioning Quadrants, the analyst's Proprietary competitive positioning tool. Source: Business Wire Sep 05, 2022: Germany-bound private plane crashes off Latvian coast NATO fighter jets were scrambled on Sunday evening after a private jet carrying four people veered off course and crashed off the coast of Latvia, authorities said. What do we know so far? The Austrian-registered Cessna 551 aircraft was flying from Jerez in southern Spain to Cologne-Bonn airport in western Germany. German newspaper Bild reported that the plane, which was carrying the pilot, a man, a woman, and a child, had reported cabin pressure issues to air traffic control. Bild said radio contact was lost as the plane left the Iberian peninsula. The plane flew erratically at times, turning twice near Paris, France and at Cologne. It then headed out over the Baltic Sea, passing near the Swedish island of Gotland, according to the FlightRadar24 website. At 7:37 p.m. local time (1737 GMT) the jet was listed on the flight tracker as rapidly losing speed and altitude. Agence France-Presse (AFP) reported that the plane crashed into the sea off Ventspills just before 8:00 p.m. Latvia's civil aviation agency said its air traffic controllers had tried but were not able to make contact with the plane. Fighter jets from Germany, Denmark and Sweden were scrambled to try to make visual contact with the crew "but they saw no one," Swedish search and rescue operation leader Lars Antonsson told AFP. He said the plane flew relatively steadily until it neared the Latvian coast when it rapidly lost altitude and crashed "when it ran out of fuel." Occupants 'clearly incapacitated' Antonsson said "No human remains have been found" and although it's not known what caused the plane to fly off course "they were clearly incapacitated on board." Aviation safety expert Hans Kjall told Swedish news agency TT that cabin pressure problems could have caused passengers to lose consciousness. This can happen quickly, especially at altitudes where small aircraft are used, he added. The Swedish Coast Guard said they had discovered traces of oil on the water and smaller pieces of debris. Source: DW Sep 05, 2022: Jetstar cancels Bali flights leaving travellers scrambling to find accommodation Hundreds of Australians have been stranded in Bali after multiple Jetstar flight cancellations leaving travellers scrambling to find emergency accommodation as they wait more than a week for the next flight home. Key points: Since the start of September about 4,000 Jetstar ticket holders travelling to or from Bali have been affected by cancellations The company says the Boeing 787 fleet has been affected by a lightning strike, a bird strike, damage and delays sourcing a spare part It took one Australian nine hours to find suitable accommodation to extend their trip Eight return services between Melbourne or Sydney and Denpasar have been cancelled since September 1. The company has confirmed 4,000 travellers have been affected. In a statement, Jetstar chief pilot Jeremy Schmidt said the company's Boeing 787 fleet had been affected by a number of issues including a lightning strike, a bird strike, damage from an item on the runway and delays sourcing a specific spare part for one aircraft due to global supply chain problems. Mr Schmidt said they were now putting on five special services to bring people home and booking seats on Qantas flights as well. "We sincerely apologise for the frustration and inconvenience this disruption has caused our customers," he said. "The majority of impacted passengers have now been re-accommodated and our teams are working hard to find the remaining 200 or so impacted passengers an alternative option. "We have also offered a flight credit or refund to passengers who no longer wish to travel and accommodation and meal vouchers for those who require it." Source: ABC Sep 02, 2022: $1B biotech deal, American Airlines cuts flights: The National Observer Sept. 2, 2022 Morgan State University, one of two historically Black colleges and universities working on opening a new medical school, has moved a step closer by snagging state approval to lease part of its property for the project. Source: The Business Journals Sep 02, 2022: The Boeing 717 Took Its First Flight 24 Years Ago Previously called the McDonnell Douglas MD-95 before the merger with Boeing in 1997, the Boeing 717 made its maiden flight from Long Beach, California, 24 years ago today. Designed and developed by McDonnell Douglas for short-haul high-frequency routes operating 100-seat aircraft, the MD-11 was a shortened version of the successful MD-80. The MD-11, later Boeing 717, was a rear-mounted twin-engine aircraft powered by two Rolls-Royce BR715 turbofan engines. Capable of being fitted out to carry 134 passengers in a 2+3 configuration, the Boeing 717 had a range of 2,060 nautical miles. What was essentially a third-generation DC-9, McDonnell Douglas started work on the MD-11 in 1995 following an order from Georgia-based ValuJet. Following the crash of ValuJet Flight 592 in the Florida Everglades in May 1996, the airline rebranded to become AirTran. Following the merger with Boeing in 1997, it looked like the Seattle planemaker would cancel the MD-95 program. Still, with orders on the books, it renamed the plane the Boeing 717 and continued with production at its newly acquired Long Beach, California, factory. Source: Simple Flying Sep 02, 2022: Insights on the Business Jet Market to 2028 - Textron Inc., Airbus, Boeing, Honda Aircraft Company, Syberjet Aircraft Among Others Vantage Market Research WASHINGTON, Sept. 02, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research's recent analysis of the Global Business Jet Market finds that the increase in launchings of new programs in private jets and technological advancements in Business Jet Market are projected to expand the growth of the Global Business Jet Market during the forecast period. The Global Market revenue was valued at USD 29.3 Billion in 2021. The Global Business Jet Market size is forecast to reach USD 42.7 Billion by 2028 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 6.3% during the forecast period; states Vantage Market Research, in a report, titled "Business Jet Market Size, Share & Trends Analysis Report by Aircraft Type (Light, Mid-sized, Large, Airliner), by End Users (Private Users, Operators), by Point of Sale (Original Equipment Manufacturer (OEM), Aftermarket), by Systems (Original Equipment Manufacturer (OEM) Systems, Aftermarket Systems), by Range (Less than 3,000 nm, 3,000 nm -5000 nm, More than 5,000 nm), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)". Key Industry Findings & Insights from the report: The global Business Jet Market was valued USD 29.3 Billion in 2021 and is all set to surpass USD 42.7 Billion by 2028, exhibiting a CAGR of 6.3% during the forecast period 2022-2028. In terms of revenue, the application segment held the largest revenue share of in 2021 and is estimated to maintain its dominance for the forecast period. In terms of revenue, the product segment held the second largest market share of in 2021 and is estimated to grow rapidly during the forecast period. The growth can be attributed to rapid urbanization, technological advancement, an increase in investment by developing countries. Asia Pacific captured the lion share in 2021 and is projected to retain its position over the forecast period. This can be attributed to the existence of a significant number of Business Jet industry companies and the high adoption rate owing to government measures that stimulate this industry in this region. The growth is primarily due to the increasing collaborations. Source: GlobeNewswire Sep 01, 2022: United States Obtains Warrant for Seizure of $45 Million Airplane Owned by Russian Energy Company PJSC LUKOIL The United States obtained a warrant to seize a Boeing 737-7EM aircraft owned by PJSC LUKOIL, a Russian multinational oil and gas corporation headquartered in Moscow, Russia. The U.S. District Court for the Southern District of Texas authorized the seizure, finding probable cause that the Boeing aircraft was subject to seizure based on violations of federal law. Earlier this year, the U.S. Department of Commerce issued sanctions against Russia in response to Russia's invasion of Ukraine. The sanctions impose export controls and license requirements to protect U.S. national security and foreign policy interests. The Russia sanctions expanded prohibitions on the export, reexport or in-country transfer of, among other things, U.S.-manufactured aircraft to or within Russia without a valid license or license exception. According to court documents, LUKOIL owns the Boeing aircraft - bearing the tail number VP-CLR and the manufacturer serial number 34865 - which flew into and out of Russia in violation of the Department of Commerce's sanctions against Russia. Source: Department of Justice Sep 01, 2022: Boeing wins $5.2 billion missile defense contract HUNTSVILLE, Ala. (WHNT) - Boeing, one of Huntsville's largest missile defense contractors, won a multi-billion dollar contract from the U.S. Missile Defense Agency, and much of the project's research and development will take place in North Alabama. Boeing is the go-to contractor for ground-based long-range missile defense. Over the next five years, the $5.2 billion contract will bring research on one of the nation's premier domestic defense systems to Huntsville. 'Huntsville Music Month' kicking off with event at Lowe Mill "We're going to continue to have a big footprint here," said Boeing's Senior Director for Business Development Jim Leary. Source: WHNT.com Sep 01, 2022: NASA orders five more astronaut missions from Musk's SpaceX in $1.4 billion deal NASA awarded each company six crew missions, but ordered three more from SpaceX in early 2022 due to Boeing's technical challenges SpaceX will launch five more astronaut missions to the International Space Station for NASA at the end of the decade under a $1.4 billion contract order, the U.S. space agency said Wednesday. This takes the company's total contracted missions for its Crew Dragon astronaut capsule to 14. Source: The Hindu Sep 01, 2022: Boeing expects MAX 7 to be certified before MAX 10 NEW DELHI: Boeing Co expects the 737 MAX 7 will be certified by the end of the year and the larger MAX 10 in the first half of 2023, a company executive said on Thursday. The planemaker faces a year-end deadline from U.S. lawmakers for both or will need to meet new cockpit alerting requirements unless waived. "The MAX 7, that'd be the first one to come in. The MAX 10 will be right behind that," John Dyson, product marketing specialist at Boeing Commercial Airplanes, told reporters before providing more specific dates to Reuters after a briefing. Major customer Ryanair Holdings PLC on Tuesday said that Boeing appeared to have accepted it would not be able to certify the MAX 10 by the year end, but it remained possible that U.S. lawmakers could give it more time. Source: The Peninsula Qatar Sep 01, 2022: Boeing Awarded $2B for KC-46A Air Force Production Aircraft The Boeing Co., Defense, Space & Security, Seattle, Washington, has been awarded a $2,214,952,163 modification (P00215) to contract FA8625-11-C-6600 for KC-46A Air Force Production Lot 8 aircraft, subscriptions and licenses. The contract modification provides for the exercise of an option for an additional quantity of 15 KC-46A aircraft, data, subscriptions and licenses being produced under the basic contract. Work will be performed in Seattle, Washington, and is expected to be completed by Nov. 30, 2025. Fiscal 2021 aircraft procurement funds in the amount of $147,540,041; and fiscal 2022 aircraft procurement funds in the amount of $2,065,560,574 are being obligated at the time of award. Air Force Life Cycle Management Center, Wright-Patterson Air Force Base, Ohio, is the contracting activity. The Boeing Co., Defense, Space & Security, Seattle, Washington, has been awarded a not-to-exceed $927,492,124 undefinitized contract action for four KC-46A aircraft for Israel. This contract is also issued for the non-recurring engineering design and test for the Remote Vision System 2.0 and the Air Refueling Operator Station 2.0 mission equipment and installation, pre-delivery integrated logistics support, and technical publications. Work will be performed in Seattle, Washington, and is expected to be completed by Dec. 31, 2026. This contract involves 100 percent Foreign Military Sales to Israel and is the result of a sole-source acquisition. Foreign Military Sales funds in the amount of $886,242,124 are being obligated at the time of award. Air Force Life Cycle Management Center, Wright-Patterson Air Force Base, Ohio, is the contracting activity. (FA8609-19-D-0007/FA8609-22-F-0001) Midnight Sun-Centennial Kirratchiaq JV LLC, Anchorage, Alaska, has been awarded a $19,000,000 indefinite-delivery/indefinite-quantity contract modification (P00002) to previously awarded contract FA480021D0008 for providing Simplified Acquisition of Base Civil Engineer Requirements support for Joint Base Langley-Eustis (JBLE), Virginia. This modification exercises Option Year One which extends the contract for one year. This contract provides all labor, tools, equipment, transportation, materials, supervision, and all other necessary supplies and services required to perform a broad range of design, minor and new construction, facility repair, and maintenance on real property for JBLE. Work will be performed at Joint Base Langley-Eustis, Virginia; and Sandston, Virginia, and is expected to be completed by Aug. 31, 2026. This single-award modification is the result of a competitive Section 8(a) set-aside for small business in which nine offers were received during the time of the original contract award. Fiscal 2022 and 2023 operations and maintenance funds will be used to fund individual task orders awarded under this contract. The 633rd Contracting Squadron, Joint Base Langley-Eustis, Virginia, is the contracting activity. Source: Security Clearance News & Career Advice Sep 01, 2022: US Army grounds Boeing-made Chinook helicopter fleet after engine fires A Boeing CH-47F Chinook tandem rotor helicopter of the US Army's 101st Airborne Division transports a military vehicle during a demonstration drill at Mihail Kogalniceanu Airbase near Constanta, Romania, on July 30. | Daniel Mihailescu/AFP The United States Army has grounded its fleet of about 400 Chinook helicopters after a "small number" of engines fires were discovered, The Wall Street Journal reported on Tuesday. An Army spokesperson told the American publication that fuel leaks led to engine fire incidents among an "isolated number" of the helicopters in recent days. "The safety of our soldiers is the Army's top priority, and we will ensure our aircraft remain safe and airworthy," the spokesperson said. No injuries or deaths have occurred because of the fuel leaks or engine fires. The US Army Materiel Command grounded the fleet "out of an abundance of caution", The Wall Street Journal reported. Engine-maker Honeywell said aircraft components called O-rings used in some of the helicopters did not meet the company's design specifications. Honeywell worked with the Army to identify the problem but declined to name the company that had manufactured or installed the problematic components. The helicopters are made by American defence manufacturer Boeing, which has declined to comment about the development. The Chinooks, originally known as CH-47, are also in service in India, Britain and nearly 20 other countries. The helicopters can carry heavy loads and are used in combat as well as other critical operations. Source: Scroll.in Aug 31, 2022: Boeing wins integration contract for homeland missile defense system WASHINGTON - Boeing has won a contract from the U.S. Missile Defense Agency to integrate, test and ensure the readiness of the homeland missile defense system, which is designed to protect against intercontinental ballistic missiles, according to an Aug. 31 company statement. The Ground-based Midcourse Defense system deployed roughly 20 years ago. Modernization of the system is critical as threats to the homeland continue to evolve. There are 44 Ground-Based Interceptors in silos buried underground at Fort Greely in Alaska and Vandenberg Space Force Base in California. The system also includes ground control stations, detection and fire control systems, and other support infrastructure. Vice Adm. Jon Hill, MDA director, had hinted at the upcoming contract to Defense News during a recent interview at the Space and Missile Defense Symposium this month. Boeing has held the development and sustainment contract for the GMD system, which is set to expire in 2023. But MDA said it wanted to split up the contract in order to inject competition and thus drive innovation amid system modernization efforts. Source: Defense News Aug 31, 2022: Welcome To The Jungle: Guns N'Roses Arrive In Manaus Brazil On A Boeing 757 On Monday, a Boeing 757-200 owned by the Maltese company JetMagic landed at Manaus International Airport (MAO), in Brazil. The 32 years old charter narrowbody brought the US rock band Guns N'Roses to the South American country, where it will tour across ten different cities. Welcome to the jungle; we take it day by day Guns N'Roses is set to tour South America between September and October. The legendary rock band, led by Axl Rose, will visit Brazil, Argentina, Uruguay, Chile, Peru, and Colombia, before going north to Mexico, and then travel to Asia. To fly around the region, Guns N'Roses are employing a Boeing 757-200 aircraft, registration 9H-AVM, owned by JetMagic, a private charter company based in Malta Luqa International (MLA). Source: Simple Flying Aug 31, 2022: IAF seeks details from Boeing after US Army grounds Chinook heavy-lift helicopters New Delhi: The Indian Air Force has sought details from American defence manufacturer Boeing about the reasons behind the grounding of the US Army's entire fleet of Chinook helicopters. The IAF operates its fleet of 15 of Boeing-made Chinook helicopters which were acquired from the US and inducted into the service in March 2019. "Indian Air Force Chinook helicopter fleet is still operational. India has sought details of the reasons which have led to the grounding of the entire fleet of US Army's Chinook CH-47 helicopters because of a risk of engine fires," Government officials told ANI when asked about the grounding of the American Army fleet. As per reports from the US media, the American Army grounded its entire fleet of CH-47 Chinook helicopters because of a risk of engine fires. Wall Street Journal quoted US Army officials said that they were aware of a small number of engine fires with the helicopters, and the incidents didn't result in any injuries or deaths. The Indian fleet of Chinook choppers is based out of Chandigarh for operations in the north while another unit is located in Assam for taking care of the northeastern areas Source: Free Press Journal Aug 31, 2022: China Airlines buying 16 Boeing 787s for $4.6B to replace its Airbus A330s China Airlines announced this week that it would be buying 16 new Boeing 787 Dreamliner to replace its Airbus A330 plane units. The company said the deal for the purchase is worth $4.6 billion. China Airlines apparently chose the Boeing Company's brand of airplanes as it plans to retire many of its planes due to their age. The airline is set to use the new Boeing aircraft for its medium and long-haul fleet, as per Reuters. The Taiwanese air carrier confirmed its decision to buy 16 Boeing 787s on Tuesday, Aug. 30. The multi-billion dollar deal has been described as a politically sensitive matter thus, there was tension when the company made the decision and announcement. It was noted that the deal was publicly disclosed by China Airlines just a few weeks after the U.S. House of Representatives Speaker, Nancy Pelosi, visited the country. The state visit has been controversial as Beijing has been strongly opposing the event. China did not conceal its anger when Pelosi's visit still pushed through and launched military exercises around Taiwan, firing missiles. Apparently, the event only added fuel to the Sino-US trade tensions. In any case, Boeing has been attempting to rebuild its business in China, but the situation may make it hard for the plane maker to reach its goal at this time. In fact, the company's president and chief executive officer, David L. Calhoun, revealed last month that the deliveries of 737 MAX to China are still blocked due to "geopolitical overhang" and COVID-19. The latest order from Taiwan may pave the way for more orders from various airlines and eventually give a boost to its future sales and deliveries. Meanwhile, China Airlines said that the arrival of Boeing 787s would allow it to phase out its fleet of old Airbus A330s. It has 22 units of planes that need to be replaced already. Boeing is expected to deliver China Airlines' order of the 787s starting in 2025. Simple Flying reported that this is the American aerospace company's first order of its 787 Dreamliner in the last 15 months. The orders include the 787-9 version and options for eight higher-capacity 787-10 models. Source: EconoTimes Aug 31, 2022: UPS adds eight new Boeing 767s to its air fleet Logistics in the News In loss for truckers, judge lifts injunction in California AB5 ruling Three rail labor unions reach tentative labor agreements with U.S. freight railroads National diesel average heads down after lengthy stretch of gains UPS adds eight new Boeing 767s to its air fleet DAT Truckload Volume Index trends down to more seasonal patterns in July More Logistics News By Jeff Berman, Group News Editor August 30, 2022 Atlanta-based global freight transportation and logistics services provider UPS said this week that is it purchasing eight new 767-300ER freighters from Boeing, which the company said will help to support its "customer-first strategy." UPS said that the addition of these eight freighters brings its total tally to 108 767 freighters in its global network. And it added that the new freighters will help to meet demand in high-growth area verticals it serves, including healthcare, small business, and international markets, as well as continue to "provide outstanding service" in its air express segment. UPS also said that the 767-300ER aircraft is the most versatile in its fleet and connects its customers to both the U.S. and international markets. What's more, UPS noted it was the "launch customer" of the Boeing 767 in 1995 and now operates 80 of the aircraft. It said that the company's longstanding experience with these aircraft will help to modernize its fleet, as well as augment its efficiency, sustainability, and reliability. "The first of the new aircraft are scheduled for delivery in 2025 and give us flexibility within our fleet to meet future customer demand. The 767 offers an excellent combination of payload and range for our customers," said UPS Airlines President Jim Joseph in a statement. "The new aircraft also will help modernize our fleet while improving our efficiency, sustainability and reliability." On its second quarter earnings call, UPS CEO Carol Tome said that the company's customer-first people-led, innovation-driven strategy is powering consistent improvement across our company, starting with customer-first, which she said is about creating a frictionless customer experience. And on its first quarter earnings call in February, UPS said that aircraft investments are a driver of the company's 2022 capital spending plan, including taking delivery of two new 747-8 aircraft in 2022, adding international capacity and making pre-delivery payments on the 19 Boeing 767 freighters UPS announced in December 2021, which are set the enter the UPS fleet between 2023 and 2025. Jerry Hempstead, president of Hempstead Consulting, told LM that this week's announcement to add eight new Boeing freighters could be viewed as risky, if, in fact, the economy is headed into a recession. "It's not clear to me if these planes are slated to replace older, less efficient aircraft in their fleet or if this is incremental capacity," he added. Source: Supply Chain Management Review Aug 30, 2022: Air Europa Signs Lease Agreement For 15 Boeing 737 MAXs & 787s Air Europa has signed an agreement with AerCap for the long-term lease of five Boeing 787-9s and ten Boeing 737 MAX 8s. The deal comes as the Spanish carrier continues to ride the wave of recovery by expanding its fleet and restoring more and more of its pre-pandemic route network. The leased aircraft are expected to begin arriving in early 2024, with all deliveries completed by 2026. Air Europa will become the first Spanish airline to operate the Boeing 737 MAX, reminiscent of back in 2016 when it became the first in the country to fly the Boeing 787. Source: Simple Flying Aug 30, 2022: Freighters Only: Which Chinese Carriers Fly The Boeing 757 Today? The Boeing 757 has been an integral part of Boeing's program in the 20th and 21st centuries. Chinese carriers have also operated the various options offered by Boeing. However, in more recent years, many Chinese carriers have opted for more fuel-efficient and newer aircraft, and have therefore retired the Boeing 757 from their passenger fleets. Cargo operators, nevertheless, still operate the type. Passenger operators The oldest operator of the Boeing 757 in China was CAAC Airlines, which was China's only state-owned airline from 1952 to 1988. CAAC had two Boeing 757, which it operated only from 1987 to 1988. Subsequently, CAAC Airlines was divided into six airlines: Air China, China Southern, China Eastern, China Northwest, China Southwest and China Northern. Air China was the main international carrier and operated long-haul services out of its Beijing-Capital (PEK) hub. The other five airlines predominantly flew domestic routes, but also had international services to nearby countries such as Japan, South Korea and Thailand. CAAC's two Boeing 757s were transferred to China Southern following the split. In addition to the two it inherited from CAAC, China Southern also received an additional 30 Boeing 757s. The airline operated the type on various domestic and international routes, with its final route being Islamabad (ISB) to Urumqi (URC). Source: Simple Flying Aug 30, 2022: Bluebird Nordic receives third Boeing 737-800BCF Icelandic cargo airline Bluebird Nordic, a member of the Avia Solutions Group, leaders in end-to-end capacity solutions for passenger and cargo airlines worldwide, has received another Boeing 737-800 freighter aircraft (BCF), making it the third in the company's cargo fleet. The B737-800 is a part of Bluebird Nordic's fleet renewal. Last year the company began its expansion, adding additional aircraft to its fleet, and are planning to continue doing so in the upcoming several years. The growing demand for cargo transport is one of the main reasons why Bluebird Nordic has been undergoing new development in its growth plan. "So far, our and our customers' experience operating the converted B737-800 is very positive," said Audrone Keinyte, CEO of Bluebird Nordic. "The aircraft are ensuring reliable operations - with impressive range and payload for an aircraft of this size. We are expecting five more aircraft before the end of the year, which will take us to eight -800s in our fleet, in addition to our B737 classic fleet." Bluebird Nordic will continue to add more B737-800s to its fleet in 2023. Source: Asian Aviation Aug 30, 2022: Community Briefs: Boeing delivers four locally-built MH-139A test helicopters to Air Force RIDLEY PARK - Boeing has delivered four MH-139A Grey Wolf test aircraft to the Air Force as the service prepares to replace its aging fleet of UH-1N helicopters. The Grey Wolf, built in Philadelphia, is a multi-mission aircraft - based on the proven commercial AW139 helicopter - designed to protect intercontinental ballistic missiles and transport government officials and security forces. Boeing was awarded a $2.4 billion contract in September 2018 for 80 helicopters, training systems and associated support equipment. "The Grey Wolf is a modern, versatile aircraft offering greater range, speed and endurance than the UH-1N Huey it replaces," said Mark Cherry, vice president and general manager of Boeing Vertical Lift in a press release. "I am proud of our team who, along with our partner Leonardo, helped us to achieve this milestone - a tremendous first step in a long line of Grey Wolf deliveries." The delivery milestone follows receipt of the Federal Aviation Administration-issued supplemental type certificate, required to commence deliveries. "We are thrilled that the first four MH-139As have been accepted by the U.S. Air Force," said Clyde Woltman, chief executive officer, Leonardo Helicopters U.S. "This aircraft is well-positioned to become an important asset in the defense and security of the United States." Leonardo produces the helicopter at its plant in northeast Philadelphia, while Boeing is responsible for military equipment procurement and installation, and post-delivery support of the aircraft, according to the press release. Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing's diverse team is committed to innovating for the future, leading with sustainability, and cultivating a culture based on the company's core values of safety, quality and integrity, the company said. Source: Delco Times Aug 30, 2022: BetterInvesting(TradeMark) Magazine Update on TJX Companies and The Boeing Company TROY, Mich., Aug. 29, 2022 /PRNewswire/ -- The Editorial Advisory and Securities Review Committee of BetterInvesting Magazine today announced TJX Companies Inc. (NYSE: TJX) as its "Stock to Study" and The Boeing Company (NYSE: BA) as its "Undervalued Stock" in the November 2022 issue for investors' informational and educational use. "A recent survey reported the percent of millennials who were investors a year ago versus those in 2022 has dropped by 8 percentage points. At the National Association of Investors, we encourage investors of all ages to stay the course, to invest regularly, and to take advantage of the power of compounding over the long haul. The easy-to-follow BetterInvesting methodology has proven this to be the successful way to building wealth for over 70 years," said Ken Zendel, CEO of the National Association of Investors (NAIC), the parent organization of BetterInvesting, a nonprofit, investment education organization. Learn more including unbiased investment education at: https://www.betterinvesting.org/learn-about-investing/investor-education/getting-started-with-stocks/investing-101 Check the November 2022 issue of BetterInvesting Magazine for more details about the latest stocks. Non-members can utilize the limited, trial version of the BetterInvesting online stock selection and analysis tools to study the investment potential of TJX Companies and The Boeing Company by viewing their fundamental data and applying judgments. Committee members are Robert M. Bilkie, Jr., CFA; Daniel J. Boyle, CFA; Marisa Bradbury, CFA; Philip Keating, CFA; Walter J. Kirchberger, CFA; and Anne Nichols, CFA. As stated, the BetterInvesting committee's Stock to Study and Undervalued Stock choices are for the informational and educational uses of investors. They are not to be considered as endorsed or recommended for purchase by NAIC / BetterInvesting. BetterInvesting urges investors to educate themselves about the stock market so they can make informed decisions about stock purchases. Investors should conduct their own review and analysis of any company of interest using the Stock Selection Guide before making an investment decision. Source: PR Newswire Aug 30, 2022: IndiGo flight 6E-6812 signals 'engine stall warning' as Boeing 777's bigger jet passes by IndiGo flight 6E-6812 witnessed an engine 1 stall warning signal midair on Monday. The rare occurrence was reported after the Mumbai-bound IndiGo plane took off as per schedule from Guwahati airport at around 6:32 am in the morning. According to the details, the captain noticed the engine 1 stall warning while the plane was flying at roughly 36,000 feet. Commenting on the development, an official said the warning signal appeared for a moment due to the presence of a bigger jet of Boeing 777 aircraft passing in the opposite direction. "IndiGo flight 6E-6812 witnessed an engine 1 stall warning signal for a moment due to a bigger jet of Boeing 777 aircraft passing in the opposite direction of IndiGo's A320 aircraft which creates 'Wake Turbulence' mid-air," the official said. However, despite the warning, the flight landed safely at the Mumbai airport. Source: India TV News Aug 29, 2022: Egyptian Government Boeing 747 Flies To Shannon For Painting The Egyptian government has a stake in a former Lufthansa Boeing 747-8 that will operate as the future Egyptian executive aircraft. The plane last week flew to Shannon, Ireland for a proper livery by International Aerospace Coating (IAC). The 747-8i will replace a 28-year-old Airbus A340 registered as SU-GGG. See, back in 2011, Boeing was building a fleet of new technology 747-8s for German airline Lufthansa. But Boeing needed a test aircraft and requested that one of the 20 Lufthansa ordered remain in the United States for flight testing and demonstrations. That one was MSN 37826, which was supposed to be registered as D-ABYE instead registered as N828BA. Back in 2015, BOEFamilyFlights noted N828BA was having some test flights from Paine Field but eventually was stored at Pinal Airpark. N828BA returned to Paine Field in 2017, took another test flight in early 2018, but afterward was ferried to Victorville for long-term storage. Fast-forward to the fall of 2021. The 747-8i has a new registration of SU-EGY and, after some Paine Field testing, was ferried to Hamburg, Germany for a new interior. Lufthansa Technik is a maintenance, completions, repair, and overhaul services powerhouse across the aviation industry was hired for the interior refit as the company does refit airplanes for VIP transport use. Same Lufthansa Technik that refitted two A321LRs for the German Luftwaffe to serve as a multi-role passenger transport recently. Source: Simple Flying Aug 29, 2022: Bluebird Nordic receives third Boeing 737-800BCF, continues to expand its fleet Icelandic cargo airline Bluebird Nordic, a member of the Avia Solutions Group, leaders in end-to-end capacity solutions for passenger and cargo airlines worldwide, has received another Boeing 737-800 freighter aircraft (BCF), making it the third in the company's cargo fleet. The B737-800 is a part of Bluebird Nordic's fleet renewal. Last year the company began its expansion, adding additional aircraft to its fleet, and are planning to continue doing so in the upcoming several years. The growing demand for cargo transport is one of the main reasons why Bluebird Nordic has been undergoing new development in its growth plan. "So far, our and our customers' experience operating the converted B737-800 is very positive," said Audronė Keinytė, CEO of Bluebird Nordic. "The aircraft are ensuring reliable operations - with impressive range and payload for an aircraft of this size. We are expecting five more aircraft before the end of the year, which will take us to eight -800s in our fleet, in addition to our B737 classic fleet." Source: AeroTime Hub Aug 29, 2022: US Offers Largest Single Aid to Ukraine: Defense Stocks to Gain In a recent press release, U.S. President Biden announced an aid package worth $3 billion to Ukraine in a bid to further strengthen America's long-term commitment of defending Ukrainian citizens against Russia's hostile aggression. This represents the largest single U.S. aid package to Ukraine since Russia invaded the nation six months ago and a total U.S. commitment of more than $13.5 billion in security assistance to Ukraine since January 2021. As stated by the President, this aid will enable Ukraine to acquire air defense systems, artillery systems and munitions, counter-unmanned aerial systems, and radars over the long term. This once again puts the spotlight on U.S. defense primes like Raytheon Technologies RTX, Boeing BA and L3Harris Technologies LHX, which are expected to gain significantly, with this aid package playing the role of the primary catalyst. Details of the Aid The latest aid package promised by the United States underscores multi-year investments in critical capabilities to boost Ukraine's armed forces against Russia. Product wise, the United States has committed to provide six additional National Advanced Surface-to-Air Missile Systems and munitions, along with up to 245,000 rounds of 155 mm artillery ammunition and up to 65,000 rounds of 120 mm mortar ammunition to Ukraine. The package pledges to supply up to 24 counter-artillery radars, Puma Unmanned Aerial Systems and support equipment for Scan Eagle unmanned aerial systems. Further, Ukraine will assist Ukrainians by providing its VAMPIRE Counter-Unmanned Aerial Systems to combat Russia's unmanned aerial systems. The aid will also provide laser-guided rocket systems, apart from being used for training, maintenance and sustainment of the Ukrainian armed force. Defense Stocks to Gain Considering the aforementioned discussion, it is quite obvious that U.S. defense contractors, particularly those manufacturing the defense products that are being pledged by America to Ukraine as part of the latest aid package, will gain substantially in the coming days. Also, their inherent growth prospects make them lucrative options for a prudent investor's watchlist. These stocks are: Raytheon: It is a well-known radar and missile maker in the United States. Its National Advanced Surface-to-Air Missile System, best known as NASAMS, is a highly adaptable mid-range air defense solution, which is currently owned by 12 countries across the globe. Notably, Pentagon has signed a $182 million contract with Raytheon for the purchase of 3 NASAMS short-and medium-range anti-aircraft missile systems for Ukraine as part of this $3 billion aid package. The stock boasts a long-term earnings growth rate of 10.4%. The Zacks Consensus Estimate for RTX's 2022 sales implies an improvement of 5% over the 2021 reported sales figure. Boeing: It is the manufacturer of combat-proven aircraft as well as missile defense systems. With over 1.2 million flight hours, Boeing's ScanEagle offers a 99% mission readiness rate and best-in-class reliability. It provides persistent daytime and nighttime intelligence, surveillance and reconnaissance (ISR) in some of the most extreme environments in the world, while its air-to-ground systems deliver stable communications up to 55 nautical miles from a ground control station. The stock boasts a long-term earnings growth rate of 4%. The Zacks Consensus Estimate for BA's 2022 sales implies an improvement of 14.8% from the 2021 reported sales figure. L3Harris Technologies: It is a technology-oriented aerospace and defense player that delivers advanced defense and commercial technologies across air, land, sea, space and cyber domains. L3Harris' Vehicle-Agnostic Modular Palletized ISR Rocket Equipment (VAMPIRE) is a portable kit that can be installed on most vehicles with a cargo bed for launching the advanced precision kill weapons system or other laser-guided munitions. It provides a rapid solution for arming non-tactical vehicles and a variety of tactical vehicles while integrating components to customer-specific specifications. In Ukraine, the company enjoys a competitive edge on the back of its work experience with the Ukraine Security Assistance Initiative. Consequently, L3Harris views a growth opportunity for its radios, night vision goggles and even some ISR capabilities in this nation. The stock boasts a long-term earnings growth rate of 3.3%. Source: Nasdaq Aug 29, 2022: Private jet operator KlasJet expands fleet with 15 Boeing 737NGs and 3 VIP aircraft The Baltic business airline KlasJet will start ACMI activities from this autumn. As a result, the current fleet will be expanded considerably. "By the end of this year, five Boeing 737NG aircraft in an economy class configuration of 189 seats will be added to our fleet. There should already be 15 by the end of 2023. These new aircraft are destined for wet lease operations," said Rita Domkute, CEO of KlasJet. "In addition, KlasJet will also continue to offer VIP private charter services. The KlasJet fleet currently consists of seven VIP aircraft. The luxury fleet will be expanded to 10 aircraft by 2023." The Boeing 737NG is an aircraft type that has not yet been included in the ACMI offer list of Avia Solutions Group, which also includes KlasJet. "I am confident that our experience with VIP charter services and the ACMI expertise within Avia Solutions Group, will enable us to smoothly enter the ACMI market and offer quality services from day 1," said the CEO of KlasJet. In Benelux, it has so far been sports teams that call on the services of KlasJet. Last year, during the European football championship, Belgium's Red Devils travelled in a KlasJet VIP Boeing, and recently the Royal Antwerp FC team flew from Antwerp airport with the Baltic business charter provider. A few months ago, KlasJet also provided the transport of the official Belgian delegation following the state visit of the royal couple to Greece. Ever-growing ACMI market In 2021, the ACMI aircraft market was estimated to be around 4.2 billion US dollars. It is expected to reach more than 8.8 billion US dollars by 2030, i.e. an annual growth rate of no less than 8.49 percent from 2022 to 2030. The ACMI world market is characterised by seasonal influences and various demand peaks during the year. In 2019, for example, 650 million passengers out of a total of 1.15 billion passengers who took the plane were carried from June to October. That is about 31% more passengers than during the winter season. On the other hand, demand in South America, Asia-Pacific and Africa is just opposite to that in Europe. To meet the growing demand for ACMI capacity from major airlines, KlasJet is joining the airlines around parent company Avia Solutions Group, and the business airline is expanding its portfolio with ACMI passenger services. Avia Solutions Group is active on almost all continents and has long maintained good relationships with airlines, ACMI operators, MRO companies and providers of training services. The group's fleet (including SmartLynx Airlines, Avion Express, Bluebird Nordic and Magma Aviation) currently numbers 140 aircraft. Several major legacy carriers indicated in their updated strategic plans that one of the tools to increase efficiency is the use of third-party ACMI services. In this way, the seasonal demand can be met and the capacity can also easily be reduced during the low season. It is generally believed that one ACMI aircraft per season, depending on the region and the business and revenue model of the airline concerned, can fetch between 1 and 3 million US dollars. "Lenders, shareholders and governments have been demanding greater efficiency from airlines since the Covid pandemic. For the past 19 years, airlines have generated an average of 1.57% profit per year. There are not many opportunities to increase efficiency. However, closing ACMI contracts for the peak season is one of them," said Rita Domkute, CEO of KlasJet. "Avia Solutions Group is the largest capacity provider in the world and we want to be part of its continued growth." Source: Aviation24.be Aug 26, 2022: Bluebird Nordic grows cargo operations with another 737 freighter Icelandic ACMI leasing and airfreight company Bluebird Nordic has taken delivery of a B737-800 Boeing Converted Freighter (BCF) as it looks to grow its cargo operations. Sister company AviaAM Leasing delivered the 737-800BCF to Bluebird. This is the third delivery of the aircraft type, following the second delivery in February. Both companies are a part of Avia Solutions Group and are working together to enable Bluebird to achieve its fleet expansion goals. The Boeing 737-800 underwent the Passenger-to-Freighter (P2F) conversion works provided by Boeing at the Taikoo (Shandong) Aircraft Engineering Company Limited (STAECO) facility in Jinan (TNA), China. In January, Bluebird Nordic said it would lease three Boeing 777-300ER aircraft in an effort to expand its widebody cargo ACMI operations. AviaAM Leasing is currently undertaking a passenger-to-freighter (P2F) conversion project, which includes the Boeing 737-800 series and a commitment to convert 25 aircraft of different types over the next four years. Bluebird Nordic is a wet lease/ACMI provider in Europe and operates in partnership with companies including DHL, UPS, Bridges Worldwide and ASL/FedEx. Bluebird Nordic also operates its own cargo service to and from Iceland globally - mainly via UPS, Emirates, and Aer Lingus through interline agreements. Source: Air Cargo News Aug 26, 2022: Boeing wants to expand Vietnam operations One of the world's leading aircraft manufacturers, Boeing, says it wants to develop its supply chain Vietnam by making more domestic businesses its suppliers. At the Boeing Aerospace Industry Forum held in Hanoi Thursday, Michael Nguyen, general director of Boeing Vietnam, said that in the next 30 years, experts believe Southeast Asia would need 4,000 planes. Vietnam is in a leading position to be part of satisfying such a demand, he said. Boeing would like to become a strategic supplier for Vietnam, he added. The aircraft maker currently has seven suppliers based in Vietnam, but there is only one Vietnamese company among them. In the long run, Boeing would like to directly work with Vietnamese suppliers as it is currently working with mainly South Korean or Japanese partners, Nguyen said. "We really want to directly work with Vietnamese companies, but domestic businesses need to learn to walk before they can run. We really want to help Vietnamese businesses to walk fast and run fast," Nguyen said, adding that Boeing would like to cooperate with universities to train their personnel in the sciences. Craig Abler, Boeing director of supply chain Asia, said he had introduced to Vietnamese partners the Boeing's criteria, including product quality and delivery time, to become a supplier for Boeing. The firm would also visit potential factories and have teams develop suppliers in Vietnam, he said. Nguyen said all Boeing planes have parts made in Vietnam, such as doors or door handlers. But the American giant believes Vietnamese workers and experts can grow even more and produce other components with the right guidance, so it would like to expand its operations in Vietnam. Do Nhat Hoang, head of the Foreign Investment Agency under the Ministry of Planning and Investment, requested Boeing and other U.S. companies to continue with cooperation initiatives, investments and technological transfer with Vietnam regarding fields like infrastructure and production, among other areas. He also wished that Boeing looks into developing a training center for pilots, experts and engineers in aerospace, not to mention aircraft production facilities in Vietnam. Boeing has been operating in Vietnam since 1995. Since then, the firm has made several contributions to Vietnamese aviation, including technical assistance in defense and commercial aviation. Source: Retail News from Asia Aug 26, 2022: Global Aviation Market Size, Share, & Outlook To [2022-2029] Growing Demands Analysis By Latest Technology, Future Demands, Competitive Landscape, Growth Opportunities, Raw Materials, Development Trend, Qualitative & Quantitative Analysis Pune, Aug. 26, 2022 (GLOBE NEWSWIRE) -- The "Aviation Market" Report provides insightful data on business strategies, top industry trends, growth opportunities, and challenges of top key players. The Aviation market report covers market size, share, and growth outlook in terms of CAGR status and revenue estimations. This 124 Pages report delivers competitive landscape analysis (business profiles, investments opportunity, new plans, technological advancements) and segmentation details (mainly type and applications) with geographical representation. Furthermore, the research report gives details on the import-export scenario, supply-demand scenario, and SWOT analysis over the forecast period. Get a Sample PDF of report - https://www.industryresearch.biz/enquiry/request-sample/20948039 The Aviation market is anticipated to rise at a considerable rate during the forecast period, between 2022 and 2029. In 2022, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon. The report focuses on the Aviation market size, segment size (mainly covering product type, application, and geography), competitor landscape, recent status, and development trends. Furthermore, the report provides strategies for companies to overcome threats posed by COVID-19. The Research Report focuses on the competitive landscape of the industry including company profiles, business overview, sales area, market performance, and manufacturing cost structure. The report analyzes the global primary production, consumption, and fastest-growing countries with prominent players in the global industry. Key market observation is shown to make key findings on business growth. In the competitive assessment section, this Aviation market report sheds light on the list of manufacturers, market conditions, current trends, company profiles, and market innovations. It also includes various growth opportunities for top players. Source: GlobeNewswire Aug 26, 2022: GOL's first freighter begins serving e-commerce company Brazilian airline GOL's first cargo aircraft has taken off in Confins, Brazil for operations throughout the country on behalf of Latin-American e-commerce company Mercado Livre. The Boeing 737-800BCF is the first of several that will be operated by GOLLOG, GOL's logistics unit, for dedicated Mercado Livre operations in Brazil, according to a LinkedIn post by GOLLOG on August 23. "The operation of this new fleet of freighters will ensure more safety and speed in the transport of large volumes of deliveries, accelerating longer journeys, as to the capitals of the North and Northeast," said GOLLOG. In July, AerCap Cargo signed lease agreements with GOL for six 737-800 Boeing Converted Freighter (BCF) aircraft. Each aircraft has a capacity of 24 tons. Three of these aircraft are scheduled to be delivered to GOL in 2022, with the remaining three due to be delivered in 2023. GOL Aerotech is carrying out the conversions at its maintenance centre in Confins. Source: Air Cargo News Aug 25, 2022: 4 Stocks to Keep a Tab on for Superb Earnings Acceleration Incremental growth in a company's earnings per share (EPS) is known as earnings acceleration. In other words, if the rate of a company's quarter-over-quarter earnings growth increases within a stipulated frame of time, it can be called earnings acceleration. Studies have shown that majority of successful stocks have seen an acceleration in earnings before an uptick in the stock price. In case of earnings growth, you pay for something that is already reflected in the stock price. But earnings acceleration helps to spot stocks that haven't caught the attention of investors yet, which once secured will invariably lead to a rally in the share price. This is because earnings acceleration considers both direction and magnitude of growth rates. The increasing percentage of earnings growth means that the company is fundamentally sound and has been on the right track for a considerable period of time. Meanwhile, a sideways percentage of earnings growth indicates a period of consolidation or slowdown, while a decelerating percentage of earnings growth may at times drag prices down. Screening Parameters Let's look at stocks for which the last two quarter-over-quarter percentage EPS growth rates exceed the growth rates of the previous periods. The projected quarter-over-quarter percentage EPS growth rates are also expected to be higher than the previous periods' growth rates. EPS % Projected Growth (Q1)/(Q0) greater than EPS % Growth (Q0)/(Q-1): The projected growth rate for the current quarter (Q1) over the completed quarter (Q0) has to be greater than the growth rate from the completed quarter (Q0) over one quarter ago (Q-1). EPS % Growth (Q0)/(Q-1) greater than EPS % Growth (Q-1)/(Q-2): The growth rate for the completed quarter (Q0) over one quarter ago (Q-1) has to be greater than the growth rate from one quarter ago (Q-1) over two quarters ago (Q-2). EPS % Growth (Q-1)/(Q-2) greater than EPS % Growth (Q-2)/(Q-3): The growth rate from one quarter ago (Q-1) over two quarters ago (Q-2) has to be greater than the growth rate from two quarters ago (Q-2) over three quarters ago (Q-3). In addition to this, we have added the following parameters: Current Price greater than or equal to $5: This screens out low-priced stocks. Average 20-day volume greater than or equal to 50,000: High trading volume implies that the stocks have adequate liquidity. Source: Nasdaq Aug 25, 2022: Scare in the air: metal fragments were detached from a plane in mid-flight & More Latest News Here The Alaska Airlines Flight 558which departed in the morning hours from the airport of Seattle, in the state of Washington, heading to San Diegoin southern California, became a lucky disgrace. According to the story of several passengers, and confirmation by the airline, minutes after takeoff a small noise was heard. Immediately, the aircraft - which was carrying 176 passengers and 6 crew members - began to vibrate unusually. Some passengers, who were sitting in seats by the window, saw pieces of metal detach from the plane. "Flight 558 reported a unusual vibration of the left side of the aircraft, just past takeoff. The plane returned to the airport and landed without problems, "they indicated through a statement issued by the airline, with a summarized version of the events. Amidst the vibrations, the plane landed without anyone being injured, but a passenger managed to capture with the camera of his phone the moment they touch the track. You can see how part of the hood (a removable metal casing for the engine) comes off at that moment. "After the original noise, we started to slow down. Immediately the captain said that he felt an unusual vibration. There the crew informed us that they were looking for a place to land.", One of the passengers told a local media. Source: UP Jobs News Aug 25, 2022: GOL's freighter plans with the Boeing 737-800BCF On Tuesday, Brazilian airline GOL and Mercado Livre introduced the first of six Boeing 737-800BCF (Boeing Converted Freighter) expected to be received between 2022 and 2023. These new cargo planes will pivot GOL's new strategy to address the cargo market in South America's biggest country, Brazil. Let's take a look at GOL's freighter plans with the 737-800BCF. GOL and the e-commerce Latin American giant Mercado Livre signed a partnership earlier this year to convert six Boeing 737-800 commercial aircraft to freighters through Boeing's BCF program, which was launched to meet the demand for transporting express cargo on domestic routes. GOL is known for being a 737-only carrier in South America and currently has the region's largest MAX commercial order. Instead of simply retiring the older 737-800 planes, the airline is turning some of them into freighters, taking advantage of what Celso Ferrer, GOL's CEO, described as a "tremendous opportunity" to have more synergies on the productivity side. The incoming 737-800BCFs will increase the freighter operation and will reduce by up 80% the delivery times on domestic routes across Brazil, particularly in the North, Northeast, and Midwest regions. GOL already announced Fortaleza, Sao Luis, and Teresina will be the first cities to receive the flights. Additionally, GOL has the possibility of adding six additional 737-800s to the freighter plan in the future if demand deems it necessary. These six additional cargo aircraft would be added to GOL's fleet by 2025. Source: AirInsight Aug 25, 2022: Spicejet looking for a "knight in shining armour" to help with financial distress Financially troubled Indian carrier SpiceJet Ltd. is open to investment from external parties, including other airlines, as it seeks to raise INR 2000 crore (USD 250 million), Chairman Ajay Singh told reporters in New Delhi on Tuesday, August 23. Mr Singh declined to say what other carriers SpiceJet may be in discussions with but indicated an equity stake sale may be one option. The shareholders of SpiceJet, which is a listed company, have approved fundraising of INR 1,500 to INR 2,000 crore, and some of the amounts have already been raised, Mr Singh said. The airline had earlier this month said it was "in discussions with various investors (including a Middle East carrier and an Indian conglomerate) to secure sustainable financing." SpiceJet's financial health worsened after Covid decimated air travel globally. The airline has suffered three straight years of losses while its market share has plunged to fifth from second largest. In late 2021, the airline had cash and cash equivalents of just INR 72.9 crore compared with total debt of INR 9,750 crore. Source: 100 Knots Aug 25, 2022: US pitches F/A-18E Super Hornet fighter jets for IAC 'Vikrant' Just a few days ahead of the official commissioning of the IAC-1 'Vikrant' in the Indian Navy, US aerospace Boeing Company pitches its F/A-18E Super Hornet fighter jets to be onboard the new carrier. At a briefing in New Delhi, Steve Parker, Vice President and General Manager, Bombers & Fighters, Boeing Defence, Space & Security said, "The F/A-18E Super Hornet fighters being offered to Indian Navy is Block III, which are most advanced and critical capability." The Block III Super Hornet has an open architecture design and a continuously evolving capability suite. According to him these "will facilitate rapid capability insertion, outpace current threats and have unmatched affordability." Source: The Financial Express Aug 25, 2022: Leidos (LDOS) Wins $358M Deal for Unmanned Undersea Vehicle Leidos Holdings, Inc. LDOS recently clinched a contract from the U.S. Naval Sea Systems Command to construct an unmanned undersea vehicle("UUV"). The work involved in the deal will be carried out in Lynnwood, WA. Details of the Deal Valued at $358 million, the contract involves designing and building a medium-size UUV for the U.S. Navy. Per the contract, Leidos will work in collaboration with L3Harris Technologies to develop this critical technology. The work involved will further contribute to the U.S. Navy by supporting the intelligence preparation of the operational environment by providing submarine-based autonomous oceanographic sensing and data collection. The vehicle will also be bestowed with the capability of providing surface-launched and recovered mine countermeasures. What's Supporting Leidos Holdings? Leidos is a leader in maritime autonomy and sensor integration and has a wide experience in naval architecture, hydrodynamics, survivability and modularity that assists the company in designing and developing the future generation of unmanned autonomous vessels. Against this backdrop, these state-of-the-art unmanned autonomous vessels are being designed to support numerous alternate naval missions in addition to the as-designed anti-submarine warfare mission and are expected to provide an affordable, flexible warfighting solution for the future. Such remarkable features must have led to a steady inflow of contracts for the company, like the latest one. This, in turn, should bolster its revenue generation prospects from the unmannedunderwater vehicle product line. Growth Prospectus The recent tiff between Ukraine and Russia has resulted in other nations to strengthen their defense landscape to deter any war-like situation. In this context, investments in undersea warfare capabilities have increased manifold since unmanned underwater vehicles play a critical role in military surveillance, thus aiding the military in carrying out undersea military missions efficiently. Considering the current scenario and backed by such capabilities, UUVs are expected to witness a surge in demand going forward, which is further supported by the Markets and Markets research firm's report that anticipates a CAGR of 16.4% in the unmanned underwater vehicle market over the 2020-2025 period. Such growth trends may add to the perks of other players in the unmanned underwater vehicle market as well. Leidos apart, this brings the spotlight on Boeing BA, General Dynamics GD and Lockheed Martin LMT, which should reap the benefits of the expanding unmanned underwater vehicle market. Boeing's Echo Voyager is a fully autonomous extra-large unmanned undersea vehicle (XLUUV) class UUV that can be used for a variety of missions previously impossible due to traditional UUV limitations. Source: Nasdaq Aug 24, 2022: Boeing hard sells its Super Hornets as India set to commission 1st indigenous aircraft carrier New Delhi: American aviation giant Boeing Tuesday made a strong pitch for its F/A-18 Super Hornet fighters to be chosen by the Indian Navy as it gets ready to commission the country's first indigenous aircraft - Vikrant -carrier next month. "The Super Hornet Block 3 has been built for carrier aircraft operations and it is the fighter that the US Navy depends on for its operations," said Boeing India president, Salil Gupte, in rare joint press conference along with heads of other American companies - General Electric, Raytheon, Northrop Grumman - who are part of the project. The Boeing India chief predicted that there would be a $ 3.6-billion economic impact to the Indian aerospace and defense industry over the next 10 years, with the Super Hornets as India's next carrier-based fighter. "The economic impact would be over and above Boeing's current offset obligations and plans in the country," he said. "The Block III Super Hornet we are offering to the Indian Navy has the most advanced and critical capability. With its open architecture design and continuously evolving capability suite, the fighter will outpace current threats, facilitate rapid capability insertion and have unmatched affordability," Steve Parker, vice president and general manager, Bombers and Fighters, Boeing Defense, Space and Security, said. Powered By VDO.AI As ThePrint earlier reported, the Navy is in the process of expediting a trial report into operational demonstration by Rafale M of French firm Dassault Aviation and F/A-18 Super Hornet. The Navy hopes to move the procurement proposal for 26 new fighters to the defence ministry by the end of this year. This comes as the indigenous aircraft carrier, Vikrant, is set to be commissioned early next month by Prime Minister Narendra Modi. The Navy received the delivery of the carrier on 28 July from her builder Cochin Shipyard Limited (CSL), Kochi. Boeing India's future plans Asked how fast Boeing can deliver the aircraft if a contract is signed, Alain Garcia, vice president, India Business Development, Boeing Defense, Space and Security and Global Services, said the delivery usually starts within a three years time frame. However, Parker said they will deliver it before three years depending on the Indian Navy's requirement. Talking about Boeing's India plans, company chief Gupte said they plan to build on its existing industrial base and strengthen its commitment to Aatmanirbhar Bharat with continued investments in India across five pillars. These include supply chain development and manufacturing; engineering and technology transfer; long-term support and training; infrastructure investments; and contributions of the Hornet Industry Team, comprising General Electric, Northrop Grumman and Raytheon. He said that the new plan builds on Boeing's annual sourcing of $1 billion from 300 suppliers on parts, assemblies and services from Indian suppliers. The plan also envisages potential for additional manufacturing opportunities, including the F/A-18's Outer Wing and Nose Barrel component manufacturing and assembly. Additionally, Boeing is reviewing several hundred other machined assemblies that could be placed with Indian suppliers, he said. Also read: Russian defence industry team to visit India soon for talks on upgrading IAF's Sukhoi fleet Source: ThePrint Aug 24, 2022: Sanctions and boycotts have crippled Russia's economy-but loopholes persist. Here's how Asian airlines, European aviation giants, and sanctions evaders are gaming the system For the past six months, our team of 42 researchers has worked 24/7 to identify and describe, celebrate, and shame multinational companies based on their varying degrees of engagement with Russian business as President Putin's unprovoked attack on a sovereign nation led to the slaughter of thousands of innocent civilians. Our list, which has been viewed by 70 million people, chronicled the stampede of corporate exits from the original 12 on Feb. 24 to well over 1,000 today. Our research also showed that companies benefited from their exits, with financial markets directly rewarding firms proportionately to the magnitude of their exit. Not only was doing good consistent with doing well for these 1,000 firms, but our research also revealed that these corporate exits, coupled with governmental sanctions, have had a crushing impact on Russia's wilting economy. However, while implementing some bold business exits, some firms have encountered competitive disadvantages arising from unintended consequences of both sanctions policies and voluntary exits. The challenges facing the aviation and aerospace industry exemplify some of these inadvertent disadvantages. Our proprietary company-level and industry-level data show conclusively that major U.S. airlines struggle with the unfair competitive edge of non-compliant Middle Eastern and Asian airlines in international flight distance and costs, while European aviation giants are unscrupulously leveraging divergences between the U.S. and EU's enforcement of titanium accreditation to squeeze major U.S. aviation companies such as Boeing. Furthermore, rampant smuggling of critical jet parts into Russia has undermined compliant aviation companies while helping illicit sanctions evaders. Of course, the aviation industry has never been easy. Disappointed with his airline investments, Warren Buffet told his shareholders in 2007, "If a farsighted capitalist had been present at Kitty Hawk, he would have done his successors a huge favor by shooting Orville down." But clearly, based on our original research, competitive disadvantages resulting from Russian business retreats and sanctions have made it even harder for U.S. airlines and aviation giants to compete with global peers. Some of these challenges are the result of unwitting gaps in government policies. Take the issue of titanium sourcing, for example, which is a crucial input commodity for aerospace manufacturers. Divergences between U.S. and EU titanium accreditation enforcement have inadvertently and unfairly incentivized Airbus to take Boeing's erstwhile market share, hurting U.S. companies while undermining the spirit of sanctions. Source: Fortune Aug 24, 2022: US pitches F/A-18E Super Hornet fighter jets for IAC 'Vikrant'US pitches F/A-18E Super Hornet fighter jets for IAC 'Vikrant'US pitches F/A-18E Super Hornet fighter jets for IAC 'Vikrant' Just a few days ahead of the official commissioning of the IAC-1 'Vikrant' in the Indian Navy, US aerospace Boeing Company pitches its F/A-18E Super Hornet fighter jets to be onboard the new carrier. At a briefing in New Delhi, Steve Parker, Vice President and General Manager, Bombers & Fighters, Boeing Defence, Space & Security said, "The F/A-18E Super Hornet fighters being offered to Indian Navy is Block III, which are most advanced and critical capability." Source: The Financial Express Aug 24, 2022: Boeing says its Super Hornet fighter makes economic and operational sense Just weeks ago, The Boeing Company's F/A-18E/F Super Hornet carrier-deck fighter demonstrated its ability to get airborne from a ski-jump, using the standard launch system that Indian Navy aircraft use. With the French Dassault Rafale fighter having already proved its ability in a similar operational demonstration, these two fighters are going toe-to-toe to convince India's Ministry of Defence (MoD) that their fighter has the teeth to best suit India's defence requirements. Addressing a media gathering in New Delhi, Boeing officials divulged plans to indigenise components and sub-systems, strengthening the company's Make-in-India claims and building on a successful track record of contributing to India's indigenous aerospace and defence ecosystem. "As part of this effort, Boeing anticipates $3.6 billion in economic impact to the Indian aerospace and defence industry over the next 10 years, with the F/A-18 Super Hornet as India's next carrier-based fighter. The economic impact would be over and above Boeing's current offset obligations and plans in the country," said Salil Gupte, President of Boeing India. Boeing already exports a range of defence and aerospace components worth over $1 billion each year from production lines in India. The firm employs close to 4,000 people in India, with another 7,000 working in its supply chains. Boeing sources from more than 300 local companies of which a quarter are Indian firms. The company points out that these figure will rise significantly if India chooses the Super Hornet for both its indigenous aircraft carriers, Indian Navy Ship (INS) Vikrant and the still-to-be-sanctioned INS Vishal. The Indian Navy has tendered for 26 fighters, but projects a long-term requirement of 57 carrier-deck fighters. Of these, eight are to be twin-seat variants. "The Block III Super Hornet we are offering to the Indian Navy has the most advanced and critical capability. Boeing is investing in advanced technologies and capabilities on our Block III Super Hornet and the F-15EX today so we will be ready for the future. The Indian Navy will benefit from these investments for decades to come," said Gupte. Boeing says it will also leverage investments made in the Boeing India Engineering & Technology Center (BIETC), which has a pool of 3,000-plus engineers and innovators in Bengaluru and Chennai to drive growth and innovation, and advance work in materials, manufacturing technologies and methods, and the "Digital World." Notwithstanding its employment generation figures, Boeing's central argument rests on the Super Hornet's credentials as the world's premier carrier deck fighter. "Designed from its inception as a carrier-based fighter for high-loading, high stress operations, the Super Hornet Block III will bring advanced, next-generation capabilities for the Indian Navy," said Steve Parker, who oversees bombers and fighters for Boeing Defence. The Indian Navy is learning the aircraft carrier ropes from the US Navy, which is widely regarded as the world's premier exponent of carrier operations. Driving cooperation on aircraft carrier design is an Indo-US joint working group on aircraft carrier technology cooperation (JWG-ACTC). It has functioned for over a decade to optimise cooperation. The group looks for ways to enhance the efficiency of India's aircraft carrier, such as getting fighters to take off quickly (the sortie generation rate), the best way of getting aircraft and weapons up onto the deck, what sort of catapult the carrier should have, its arresting gear and how the systems are inter-workable with the Super Hornets that fly off a US carrier. Should the Super Hornet be selected, there are other components that can be installed on a carrier to enhance inter-operability with other US Navy systems. These include a precision landing system called Magic Carpet that is built into the Super Hornet as a standard capability, and is designed to assist the pilot in landing on an aircraft carrier. Magic Carpet reduces the pilot's workload enormously. In the normal course, the pilot would be making about 300 corrections to the landing gear in about 15-18 seconds. That is reduced to one-third with a Magic Carpet. Even the most difficult night landings start feeling benign. Boeing claims it has shown it to the Indian Navy as part of its operational demonstration - it is so precise that it engages the third wire every time, causing wear and tear on only that wire. Source: Business Standard Aug 23, 2022: Dow Jones Today Highlights; Gains in the Stock Market; Potential Earnings List Dollar Tree (DLTR) and Dollar General (DG), as well as Macy's (M), Salesforce (CRM), Nvidia (NVDA), and Toll Brothers, might both have significant profits this week (TOL). After Monday's market closes, we'll get Zoom Video (Z.M.) and (PANW) updates. Norwegian Cruise Lines (NCLH) was down 4% in premarket trading, reflecting a broad decline across cruise lines. Leading the Dow industrials down by 2% was Boeing (B.A.). Following a downgrade and a minor price target decrease from CFRA, shares of Netflix (NFLX) fell by over 3 percent. Early Monday, Chinese markets hardly budged as the Chinese central bank cut its benchmark lending rates again to stimulate economic development. There was no change in the Alibaba (BABA) shares price, while JD.com (J.D.) rose by 1%. Tencent (TCEHY) fell by over 1 percent. Tesla, the market leader in electric vehicles, had its share price drop by over 2% on Monday. In addition, Dow technology heavyweights Microsoft (MSFT) and Apple (AAPL) had significant losses shortly after today's market opening. Last week's Stocks "Near Buy Zone" highlighted Costco and Albemarle. As a result of last week's price surge, Costco stock was added to the IBD and the SwingTrader. IBD's Stock Of The Day on a recent day featured Albemarle. Source: Best Stocks Aug 23, 2022: Air India, Air India Express to get new jets ahead of holiday season In a bid to expand the flying capacity ahead of the holiday season, the Tata Group has decided to induct several planes by 2023 for its two airlines, Air India and Air India Express. The company is planning to get six Boeing 777-2000 aircraft and 25 Airbus A320 Neo aircraft on lease by the first quarter of 2023, Economic Times (ET) reported. Tata Group is in the final stages of placing an order for 200 narrowbody and widebody jets from Airbus and Boeing. But their delivery might only start by the end of 2024. To meet the short-term demand, the company has decided to take Boeing 7777-2000 and Airbus A320 Neo on lease, the report added. Boeing 777 will be leased from Delta Airlines in the US. It had phased out the 18 777 aircraft after the Covid-19 pandemic. It is expected to join Air India's fleet by October. ET further stated that the Boeing 777 will be used to increase the flights on the India-US route as it is one of the most profitable routes. The long-range of the aircraft will allow the company to connect South Indian cities like Hyderabad and Bengaluru to US west coast and Canada. Airbus A320 Neo will be leased from the secondary market. It is expected to join Air India's fleet by 2023 and will be used primarily on domestic routes. Air India Express is also expanding its capacity by taking five Boeing 737 jets from its sister company, Vistara. In 2019, Vistara had taken nine 737 jets from Jet Airways on lease. While it has returned four of them, the lease period of the remaining five will be extended by Air India Express. Air India Express operates primarily in the middle-east. "The airline has decided for a nominal increase in capacity expansion, keeping in mind the upcoming heavy traffic season to Dubai and Qatar due to the FIFA World Cup," ET quoted a person aware of the matter as saying. Tata Group's three airlines, Air India, AirAsia India, and Vistara currently hold a 24 per cent share in the Indian aviation market. Source: Business Standard Aug 23, 2022: Boeing Ranks as Top Internship Program Aircraft manufacturer Boeing [NYSE: BA] has been ranked the number one spot for internships among Yello's sixth annual Top 100 Internship Programs List. Yello-the largest diversity, equity, and inclusion talent recruitment provider-annually highlights companies across all industries that have established top internship programs. Though companies have to nominate themselves to be considered for a spot on the list, a panel of industry-leading judges selects the top internships. Aside from compensation and perks, the Yello panel factors in diversity, equity, and inclusion (DEI), career development, full-time employment prospects, and unique program aspects. Boeing, which hosts roughly 1,400 interns across all divisions, took the top spot for a range of reasons. For one, Boeing was recognized for its efforts to drive DEI intentionally by setting organizational goals and making strides to increase representation across programs. The company was also commended for the community it has built among interns by connecting them with mentors that are full-time employees for networking and professional development opportunities. Also, with its global presence and tradition of embracing hybrid work, the multinational company has internship cycles that spread year-round and ensure that more students have options for early career opportunities. In light of the shifting pandemic work structure, Yello said 80 percent of the companies it reviewed embraced hybrid work rules that allowed them to expand their internship programs. In addition to Boeing, other aviation and aerospace companies that made the list included Southwest Airlines [NYSE: LUV] and Spirit Aerosystems [NYSE: SPR]. Southwest Airlines' internship program, based in Dallas, Texas, was highlighted for the unlimited free space-available flights and professional development courses, among other perks for interns. Yello also highlighted Spirit Aerosystems' program for the opportunity that interns get to visit the Doc Museum in Wichita, Kansas, which houses a restored World War II Boeing B-29 Aircraft. Source: FLYING Magazine Aug 23, 2022: The Boeing Company (NYSE: BA) Shares Bought by Aaron Wealth Advisors LLC Aaron Wealth Advisors LLC boosted its holdings in shares of The Boeing Company (NYSE:BA - Get Rating) by 1,470.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,600 shares of the aircraft producer's stock after acquiring an additional 71,723 shares during the period. Aaron Wealth Advisors LLC's holdings in Boeing were worth $400,000 at the end of the most recent reporting period. Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CKW Financial Group raised its position in shares of Boeing by 25.0% in the fourth quarter. CKW Financial Group now owns 250 shares of the aircraft producer's stock valued at $50,000 after buying an additional 50 shares during the last quarter. Meridian Wealth Partners LLC raised its position in shares of Boeing by 4.4% in the fourth quarter. Meridian Wealth Partners LLC now owns 1,308 shares of the aircraft producer's stock valued at $263,000 after buying an additional 55 shares during the last quarter. Lindbrook Capital LLC raised its position in shares of Boeing by 0.5% in the first quarter. Lindbrook Capital LLC now owns 11,361 shares of the aircraft producer's stock valued at $2,176,000 after buying an additional 56 shares during the last quarter. Blue Bell Private Wealth Management LLC raised its position in shares of Boeing by 42.1% in the first quarter. Blue Bell Private Wealth Management LLC now owns 189 shares of the aircraft producer's stock valued at $36,000 after buying an additional 56 shares during the last quarter. Finally, Accurate Wealth Management LLC raised its position in shares of Boeing by 4.4% in the fourth quarter. Accurate Wealth Management LLC now owns 1,408 shares of the aircraft producer's stock valued at $290,000 after buying an additional 59 shares during the last quarter. Institutional investors and hedge funds own 53.96% of the company's stock. Source: Defense World Aug 23, 2022: Ampex announces contract with Boeing for B-52 Stratofortress Ampex Data Systems, a division of Delta Information Systems, has won a fixed price contract with The Boeing Company in support of the US Air Force's Commercial Engine Replacement Program (CERP) of the B-52 Stratofortress. The Ampex Fault Maintenance Recorder will store critical information for the platform on its network file server. Ampex's TuffCORD NAS device is part of the Ampex TuffServ product line of NAS systems and provides the foundation for the Fault Maintenance Recorder. TuffServ's are multi-functional devices for operation in harsh field, airborne, marine, and space environments. Capabilities include data acquisition and storage of video, radar, imagery, bus, and flight test instrumentation data. TuffServ's can also function as whole platform servers, mission computers, or supplemental processors. Ampex will complete work at its Las Cruces, NM facility as well as at its Silicon Valley headquarters in Hayward, CA. "Ampex has been a leader in data acquisition and storage in the aerospace market for decades. This program award will elevate our ability to support maintenance needs and cybersecurity software operating on Ampex ruggedized hardware," said Nick Duran, vice president and director of sales, Ampex Data Systems. Source: Aerospace Testing International Aug 23, 2022: Apaches on the warpath It may look little changed in its appearance but the latest production version of the Apache attack helicopter, the AH-64E, is tougher and more capable than ever. RICHARD GARDNER reports from Middle Wallop as the UK AAC takes delivery of its first 'Echo' models. The British Army Air Corps' new Apache Echo is a genuine state-of-the-art upgraded fighting machine, incorporating new engines, advanced integrated avionics and crew displays, defensive aids, weapons systems and secure communications and can operate, day or night in all weathers, operating as a key node in the digital battlespace that is now its hunting ground. The AH-64 Apache helicopter first flew in 1975 as a Hughes design before becoming a McDonnell Douglas product, which in turn was absorbed into the Boeing Company. Over the decades many rival attack helicopters have emerged from companies around the world, following a similar operational trajectory, all offering armoured protection, highly agile performance, battlefield survivability and a variety of air-to-surface weapons. But, approaching fifty years on, the AH-64 Apache still reigns supreme in its attack role, as the clear leader and top selling competitor in the niche attack helicopter market. The Apache AH.1 has a long and distinguished service record with the British Army over 22 years, and remains in Army Air Corps squadron service having taken part in combat operations throughout the Middle East from Libya to Iraq and as a major participant in the Afghanistan anti-terrorist conflict, providing protective air cover for ground forces and other helicopters, making maximum use of its devastating 30mm chain-gun and a mix of unguided CRV7 rockets and precision-guided Hellfire missiles. It was given a maritime attack role, especially valuable after the demise of the naval Sea Harrier force, flying off helicopter carriers, including HMS Illustrious and HMS Ocean. The new generation of AH-64Es being delivered to the British Army will continue to retain this capability to go to sea as part of a Tailored Air Group operating off the new carriers as required. Source: Royal Aeronautical Society Aug 22, 2022: The Boeing Company (NYSE: BA) Shares Sold by South Dakota Investment Council South Dakota Investment Council cut its position in The Boeing Company (NYSE:BA - Get Rating) by 34.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,812 shares of the aircraft producer's stock after selling 4,130 shares during the quarter. South Dakota Investment Council's holdings in Boeing were worth $1,496,000 at the end of the most recent quarter. A number of other large investors have also recently made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. purchased a new stake in Boeing during the 4th quarter valued at approximately $28,000. Lloyd Advisory Services LLC. raised its stake in Boeing by 1,092.3% during the 1st quarter. Lloyd Advisory Services LLC. now owns 155 shares of the aircraft producer's stock valued at $30,000 after acquiring an additional 142 shares during the last quarter. Blue Bell Private Wealth Management LLC raised its stake in Boeing by 42.1% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 189 shares of the aircraft producer's stock valued at $36,000 after acquiring an additional 56 shares during the last quarter. Delos Wealth Advisors LLC raised its stake in Boeing by 6,466.7% during the 4th quarter. Delos Wealth Advisors LLC now owns 197 shares of the aircraft producer's stock valued at $40,000 after acquiring an additional 194 shares during the last quarter. Finally, Landmark Wealth Management LLC purchased a new stake in Boeing during the 1st quarter valued at approximately $48,000. 53.96% of the stock is owned by institutional investors and hedge funds. Get Boeing alerts: Wall Street Analysts Forecast Growth Several analysts have commented on the company. StockNews.com raised Boeing from a "sell" rating to a "hold" rating in a research note on Friday, July 29th. Sanford C. Bernstein reduced their price objective on Boeing from $239.00 to $216.00 in a research note on Thursday, April 28th. Wells Fargo & Company cut their target price on Boeing from $214.00 to $210.00 and set an "overweight" rating for the company in a research note on Thursday, July 28th. Benchmark cut their target price on Boeing from $250.00 to $200.00 and set a "buy" rating for the company in a research note on Friday, July 15th. Finally, UBS Group set a $263.00 target price on Boeing and gave the stock a "buy" rating in a research note on Thursday, April 28th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $219.56. Source: Defense World Aug 22, 2022: Boeing Awarded $121M to Produce Navy Torpedo Air Launcher Equipment Boeing (NYSE: BA) has been awarded a potential eight-year, $121.4 million contract to produce equipment for the U.S. Navy to deploy anti-submarine torpedoes from the P-8A maritime patrol and reconnaissance aircraft. The military branch will initially obligate $11.8 million on full-rate production services for the High-Altitude Anti-Submarine Warfare Weapon Capability Air Launch Accessory, according to a Department of Defense notice published Friday. DOD's award notice indicates the contract has an initial value of $25.6 million and will reach the ceiling price if all options are exercised. The Navy tapped Boeing in 2013 to design and build a HAAWC system capable of launching from a high altitude and far from a target. Under the recent award, the company will manufacture the air launcher platform and perform engineering, hardware repair and direct cost support work. Source: GovCon Wire Aug 22, 2022: Boeing, Visa, CVS Health are among the 25 best internships in the U.S. As employers look to fill roles left empty during the Great Resignation, hiring interns could be a solution to get newly trained employees through the door. Seventy percent of interns will get a job offer at the end of their semester, according to a survey by the National Association of Colleges and Employers. Employers are also more likely to hire a person who has had an internship in the past. Read more: Interns make $4,000 a month in these cities But not all internship programs are created equal. Yello, an early talent recruitment platform, released its annual list of the top internship programs in the country. The platform spotlights 100 programs across industries that go above and beyond for interns when it comes to promoting DEI and creating pathways for training, upskilling and hiring. Yello named Boeing as the best internship program in the U.S., highlighting their efforts to increase diversity in their applicant pool, as well as their approach to providing mentorship opportunities to their interns. Company programs were judged on criteria including compensation and perks for interns, as well as career development opportunities. Source: Employee Benefit News Aug 22, 2022: Urban Air Mobility Market to Reach $29.0 Billion by 2030: The Brainy Insights NEWARK, N.J., Aug. 22, 2022 /PRNewswire/ -- As per the report published by The Brainy Insights, the global urban air mobility market is expected to grow from USD 2.1 billion in 2021 to USD 29.0 billion by 2030, at a CAGR of 33.9% during the forecast period 2022-2030. Urban air mobility (UAM) is a highly automated, on-demand, unpiloted, cargo or passenger-carrying air transportation service. The concept of transportation has made city travel easier by avoiding traffic jams and congestion on roads. These vehicles help transport one to two passengers and small packages in less time. Furthermore, urban air mobility vehicles are helpful in emergency medical evacuations, rescue operations, humanitarian missions, ground traffic flow assessment, and many others. For Right Perspective and Competitive Insights, Get Sample Report at: https://www.thebrainyinsights.com/enquiry/sample-request/12821 The increasing congestion on the roads, especially in urban areas during peak hours, resulted in consumers spending more time on the streets. According to the American bar association, the US, Germany, the UK, and France, combined spent USD 200 billion on solving traffic jam congestion. This amount can continue increasing if the traffic congestion problem is not solved on time. Competitive Strategy To enhance their market position in the global urban air mobility market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. In June 2021, American Airlines announced its investment in vertical aerospace, a leading UK-headquartered engineering and aeronautical business that helps develop electrically-propelled vertical-takeoff-and-landing aircraft (eVTOL). The main aim of this investment is to reduce carbon emissions and improve transport facilities for consumers. Get a detailed COVID-19 impact analysis on the Urban Air Mobility Market: https://www.thebrainyinsights.com/report/urban-air-mobility-market-12821 Market Growth & Trends The increasing traffic congestion issues, mostly in urban areas with a large population, propel the need for faster modes of intracity transportation, driving the growth of the urban air mobility market. However, this mode of transport seems to be accepted mainly by the younger generation and wealthier people. However, the metropolitan areas are still unwilling to bring this to function, hindering the market's growth. Many investments have been made to research and develop urban air mobility vehicles, providing an opportunity for market growth during the forecast period. Advancement in aviation technologies such as the integration of IoT and Artificial intelligence is creating the potential to provide convenient, efficient on-demand transportation for people and cargo, which is also expected to provide an opportunity for the market's growth during the forecast period. Source: PR Newswire UK Aug 22, 2022: Ukrainian Airline SkyUp Takes Delivery of a New Boeing 737-800 The airplane, with the manufacturer's serial number (MSN) 40249, completed its first flight in July 2011. From August of that year, it operated for FlyDubai and in 2019 it joined the fleet of South African carrier Comair. Now, it is registered as UR-SQM so it can start flying for its new operator. The aircraft is equipped with winglets, which will be replaced by split scimitar winglets during the coming autumn. The new wing devices will improve the aircraft's aerodynamic performance and enable a further reduction in fuel consumption. Consequently, they contribute to reducing carbon dioxide emissions into the atmosphere. Source: Airline Geeks Aug 22, 2022: Military Trainer Aircraft Market Growth Holds Strong Sukhoi Corporation, Airbus S.A.S, The Boeing Global Military Trainer Aircraft Market Size study, by Type (Fixed Wing, Rotatory blade) by System (Airframe, Engine, Avionics, Landing gear system, Weapon system), by Application (Combat, Multirole, Military, Transport, Maritime patrol, Reconnaissance & surveillance Others), and Regional Forecasts 2021-2027, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider Military Trainer Aircraft market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Military Trainer Aircraft market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). - In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis Download Free Sample Copy of 'Military Trainer Aircraft market' Report @ https://reportocean.com/industry-verticals/sample-request?report_id=bw3395 Global Military Trainer Aircraft Market to reach USD XX billion by 2027. Global Military Trainer Aircraft Market is valued approximately at USD XX billion in 2020 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2021-2027. Trainer is a type of aircraft which is designed to provide flight training to the pilots and aircrews. These trainer aircraft are equipped with additional features which include simplified cockpit arrangement, tandem flight controls and forgiving flight characteristics among other safety features The Military Trainer Aircraft market is being driven by rising need of replacing aging fleets, rising arms forces among economies and others. Moreover, the ability to carry heavy war loads further ignite the market. In addition, at the time of high intensity wars, these trainer aircrafts can also be used to operate within a framework of other properties. For instance, the French Dassault and German Alpha Jets are used for light strikes and anti-shipping roles while being protected by other aircrafts using machine guns. However, adoption of UAVs may impede market growth over the forecast period of 2021-2027. Source: Digital Journal Aug 19, 2022: Water board, Boeing deal sets stage for cleanup to begin Over pleas from residents and elected officials who wanted tougher restrictions, the Los Angeles Regional Water Quality Control Board has approved an agreement with Boeing Co. that sets in motion the long-delayed cleanup of the Santa Susana Field Lab. With a 5-0 vote Aug. 11, the board-with member Irma Munoz recusing herself-adopted a memorandum of understanding with Boeing that establishes processes and standards for testing stormwater discharge after the aerospace giant's planned soil cleanup on its portion of the former rocket engine/nuclear research facility in the hills above Simi Valley. The agreement requires Boeing to monitor stormwater that drains into local watersheds, including Calleguas Creek and the Los Angeles River, for 195 pollutants after the company completes its cleanup of the SSFL site. Boeing would have to test for the contaminants in several waterway outfalls for at least 12 storm events to ensure pollutant levels don't violate federal water quality standards. Under the agreement, if "multiple lines" of evidence show that stormwater leaving the site is not polluted, the board could relieve Boeing of its stormwater permit obligations after its soil cleanup is complete, said Renee Purdy, executive officer of the L.A. regional water board. With approval of the MOU, cleanup of the SSFL is anticipated to begin in 2025, Purdy said. History The field lab began operating in the 1940s. Boeing Co. owns 80% of the 2,830-acre site, including Area IV, where a partial nuclear meltdown occurred in 1959. The remaining 20% is overseen by NASA on behalf of the federal government. For years, cleanup has been stalled due to litigation and disputes over cleanup standards. Residents worry that chemical and radioactive contamination from the site could be contributing to a spike in cancer cases in the area. The MOU is one of two agreements that comprise a "comprehensive framework" under which the SSFL site will be cleaned up, water board officials said. The other agreement was made June 2 between the California Department of Toxic Substances Control and Boeing to settle ongoing disputes over Boeing's cleanup obligation under a 2007 order. The DTSC and the water board both fall under the umbrella of the California Environmental Protection Agency. DTSC has jurisdiction over the cleanup, soil and groundwater at the site and is setting the cleanup standards that Boeing must follow; the water board's MOU covers the testing of stormwater runoff. Both agreements had to be in place before cleanup work could begin. Marathon meeting At the 10-hour meeting, held at Santa Clarita City Hall in Valencia, EPA Secretary Jared Blumenfeld said the deal facilitates "the long overdue soil and groundwater cleanup and creates the path to pollution-free stormwater runoff." "With your vote today, you can do your part to help solve a problem that has been literally generations in the making," Blumenfeld said. He commended staff for "ensuring that the proposed MOU imposes more stringent requirements on Boeing than those applied to other industrial stormwater permittees." Blumenfeld implored the board not to bow to requests to stall the vote, saying that delaying the vote delays the cleanup. Despite reassurances by officials, the majority of public speakers, numbering in the hundreds at the meeting, including residents of Simi Valley, Thousand Oaks and Camarillo, urged the board to reject the agreement. Ventura County Supervisor Linda Parks said there needs to be a coordinated cleanup process involving Boeing, NASA and the Department of Energy. Without it, she said, the potential exists for cross-contamination and re-polluting of the Boeing site. She said the board's vote "could unintentionally trigger having one of the most polluted sites in the state continue to threaten the health of people, including children, for generations to come." Many residents living near the SSFL site spoke about their loved ones who were diagnosed with rare brain and other cancers. West Hills resident Melissa Bumstead, founder of Parents Against Santa Susana Field Lab, said the group has identified 81 cases of pediatric cancer within a 10-mile radius of the SSFL. Jeff Ruch, founder and executive director of Public Employees for Environmental Responsibility, said the agreement is an "unprecedented concession to an industrial polluter who wants to use this as an instrument to escape past cleanup obligations." He said that under the DTSC agreement reached in June, Boeing will be allowed to leave between 90% and 95% of the contaminants untouched. That contention was rebutted by Meredith Williams, DTSC director, who said Boeing will be required to remove all soil necessary "to achieve the target results." Source: Thousand Oaks Acorn Aug 19, 2022: Division of Fiduciary Duties Proves Key to Success in Stock Drop Lawsuit On August 1, 2022, the United States Court of Appeals for the Seventh Circuit affirmed the lower court's dismissal of a "stock drop" lawsuit against Boeing. The Seventh Circuit based its conclusion on the fact that an independent fiduciary, rather than the Boeing defendants, had exclusive fiduciary responsibility for the company stock fund and therefore had no duty to disclose corporate insider information to the participants or the independent fiduciary. This ruling continues the trend since the Supreme Court's ruling in Fifth Third Bancorp v. Dudenhoeffer where the Court set "demanding pleading standards" that require plaintiffs to "plausibly allege an alternative action the defendant could have taken that would have been consistent with securities law and that a prudent fiduciary in the same circumstances would not have viewed as more likely to harm the employee stock ownership fund than to help it." Burke v. Boeing Co., This pleading standard has proven challenging for plaintiffs to overcome. Source: JD Supra Aug 19, 2022: National Aviation Day: Looking Back at How Boeing Integrated the 787's Avionics Systems In 1939, Franklin D. Roosevelt issued a presidential proclamation designating August 19 as National Aviation Day to commemorate the Wright Brothers' first flight completed in 1903. As the aviation industry celebrates the day with a wide array of historical facts and figures, we're re-publishing an article from the Avionics International magazine's digital/print archives first published in June 2005 analyzing how Boeing constructed the Boeing 787's avionics systems architecture. The article was written by former editor-in-chief David Jensen, and he explains how the avionics network came together for the 787 Dreamliner, which first entered passenger-carrying commercial service in 2011. Our coverage from six years prior has been re-published in its original form below, with updated images of 787's avionics. Source: Aviation Today Aug 19, 2022: How Malaysia Airlines Addresses Passenger Needs With Its New Boeing 737-800 Cabin Malaysia Airlines last month unveiled its first upgraded Boeing 737-800 Next Generation cabin. This move is part of an ambitious renewal program that will see all units of the model with fresh interiors by the middle of next year. Amid this progress, Simple Flying caught up with Captain Izham Ismail, Group Chief Executive Officer of Malaysia Aviation Group, to learn more about this overhaul. Time for a change The 2-2 configured 12 seats in business class and the 3-3 formatted 162 seats in economy class all have new outfits, with lightweight leather-upholstery. Notably, all the seating hold USB type A and C power outlets Source: Simple Flying Aug 19, 2022: Air Canada Cargo unveils the first Boeing 767-300F to sport the airline's latest livery Air Canada Cargo unveiled the first Boeing 767-300F in its fleet to sport the paint scheme the company introduced in 2017. The aircraft, registered as C-GXHM, is one of two factory-built freighters delivered to the Canadian carrier earlier this summer. Both aircraft are expected to enter service in 2023. In addition, Air Canada Cargo will acquire two Boeing 777Fs directly from the manufacturer's production line starting in 2024. The company expect to have a total of eight Boeing 767s converted from their original passenger-carrying versions. Two of them are already part of its fleet and serve routes in North America, Latin America and Europe. In this way, Canada's largest airline plans to operate a fleet of twelve freighter aircraft of its own and consolidate its position in the air cargo segment, one of the industry's fastest growing markets in recent months and one of the most promising for the foreseeable future. - Advertisement - Seeing the livery come to life on one of our aircraft is a special moment for everyone at Air Canada, and especially for those of us in cargo said Jason Berry, the company's Vice President of Cargo. After so many months of hard work, we are excited for this important step signalling our strategic growth and can't wait to see it in the sky soon, he added. Recovery after a negative quarter Despite the upward trend in air cargo movement, the carrier was affected by poor performance and fewer frequencies in major Pacific markets as a result of recent sanitary restrictions in China, Hong Kong and Japan. Cargo revenues declined more than 16% year-on-year to 299 million Canadian dollars (232.553 million American dollars) between April and June. As a result, additional capacity was reallocated to other markets. In the Americas, the carrier inaugurated dedicated cargo services to Miami (MIA), Guadalajara (GDL), Quito (UIO), Lima (LIM) and San Juan (SJU). It also landed in Europe with flights to Madrid-Barajas (MAD) and Frankfurt am Main (FRA). In the domestic market, it began operations to Halifax (YHZ) and St. John's (YYT). Source: Aviacionline.com Aug 18, 2022: Boeing (LON: BOE) Share Price Passes Above 200 Day Moving Average of $164.81 The Boeing Company (LON:BOE - Get Rating)'s stock price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of GBX 164.81 ($1.99) and traded as high as GBX 175.13 ($2.12). Boeing shares last traded at GBX 171.82 ($2.08), with a volume of 4,582 shares trading hands. Boeing Price Performance The company has a debt-to-equity ratio of 6,813.79, a quick ratio of 0.28 and a current ratio of 1.25. The stock has a market cap of Pound1.02 billion and a PE ratio of -20.74. The stock has a 50 day moving average of GBX 147.75 and a two-hundred day moving average of GBX 164.81. Source: Defense World Aug 18, 2022: Boeing, MIT Announce Decarbonized Aerospace Research Partnership On August 15, at the Farnborough Air Show, Boeing Co. and the Massachusetts Institute of Technology announced a new three-year project to research how the aerospace industry can reduce or eliminate carbon emissions. The project, Pathways to Sustainable Aviation, will send its findings to a real-time visualization of aerospace-related carbon emissions called Cascade. Brian Yutko, Boeing's vice president and chief engineer of sustainability, in a statement called climate change "one of the greatest challenges of our time." "We are committed to work across industry and academia, collaborating and investing in the scientific research and developments that are crucial to achieve a sustainable aerospace future," said Yutko. Source: IndustryWeek Aug 18, 2022: Emirates reveals details of its 120 aircraft retrofit progamme Emirates has begun carrying out its plans to upgrade the entire interior cabins of 120 Airbus A380 and Boeing 777 aircraft. The target is to completely retrofit four Emirates aircraft from start to finish every month, continuously over a period of two years. Once the 67 earmarked A380s are refreshed and back in service, 53 777s will undergo their facelift. This will see nearly 4,000 new premium economy seats installed, 728 first class suites refurbished and over 5,000 business class seats upgraded by the time the project concludes in April 2025. In addition, carpets and stairs will be upgraded, and cabin interior panels refreshed with new tones and design motifs including that of the ghaf trees which are native to the UAE. Source: Business Traveller Aug 18, 2022: Aerospace Maintenance Chemical Market Size Predicted to Increase at a Positive CAGR Boeing Company,Bombardier Inc,Delta techops Aerospace Maintenance Chemical Market By Nature (Organic, Inorganic), By Product Type (Cleaners, Deicing Fluids, Adhesives, Others), By Type Of Aircraft (Commercial, Business, Defence, Others): Global Opportunity Analysis And Industry Forecast, 2022-2030, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider Aerospace Maintenance Chemical market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Aerospace Maintenance Chemical market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). - In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region Download Free Sample Copy of 'Aerospace Maintenance Chemical market' Report @ https://reportocean.com/industry-verticals/sample-request?report_id=bwcc1070 Key Segments Studied in the Global Aerospace Maintenance Chemical Market The global aerospace maintenance chemical market size was US$ 7.1 billion in 2021. The global aerospace maintenance chemical market is projected to grow to US$ 12.9 billion by 2030, registering a compound annual growth rate (CAGR) of 7.1% during the study period from 2022 to 2030. Aerospace maintenance chemicals are cleansers that maintain the efficiency of the aircraft and enable smooth operations. These cleansing materials are used as remover, paint strippers, degreasers, and aircraft washers & polishers to make the aircraft corrosion free. Source: Digital Journal Aug 18, 2022: Appeals Court Upholds Decision in Boeing Stock-Drop Case THE 7TH U.S. CIRCUIT COURT OF APPEALS in Chicago on August 1 upheld the lower court's dismissal of a case brought against Boeing in 2019 over the drop in Boeing's stock price. The appeals court found that the Boeing defendants weren't fiduciaries under the Employee Retirement Income Security Act (ERISA) because an independent firm managed the company stock fund in the Boeing Co. Voluntary Investment Plan. The independent fiduciary in this case, Newport Trust Co., had managed the ESOP since 2007 and was not the subject of litigation. "This decision has particular importance to plan sponsors and fiduciaries who have employer stock as an investment," says Allison Itami, partner and co-chair of the plan sponsor group at Groom Law Group. "It definitely supports the decision to use an independent fiduciary when there might be conflicts of interest about inside information." The three-judge panel wrote that Boeing had clearly delegated to Newport decisions about the ESOP plan, including whether to allow the plan and employees to continue to hold employer stock, and the decision to allow employees to continue making new investments in employer stock. In making those decisions, the court ruled, Newport was not a Boeing insider and not privy to inside information related to the two major crashes of Boeing 737 MAX series airplanes. [Newport] was making decisions like any outside investor, albeit one holding a massive, $11 billion stake in the company, on the basis of public information about the company and its prospects," the judges wrote. Alleged fiduciary breach The plaintiffs had sued Boeing, it's investment committee, and some executives, arguing that Boeing's leadership had known about the potential issues with the airplanes since 2010 and should have foreseen and addressed how those crashes would have led to the drop in Boeing's stock price. The plaintiffs argued that the continued provision of employer stock during the period represented an ongoing fiduciary breach since the defendants should have taken action to protect plan participants' balances. Boeing's share price tanked by more than $65 per share when Boeing's planes were grounded, falling from $442.54 to $375.21 over four days in 2019. The judges in the most-recent ruling wrote that by delegating investment decisions in the ESOP to an independent fiduciary, "neither Boeing, nor the other defendants, acted in an ERISA fiduciary capacity in connection with the continued investments." The judges recognize that Boeing delegated its fiduciary duty to to eliminate claims about Boeing insiders' conflict of interest. "We see no legal barrier to such a delegation, and decades of ESOP stock-drop litigation have provided powerful reasons for employees and fiduciaries for ESOPs to take this step," they write. If the investment committee had not appointed an independent fiduciary, the judges write, they may have also been open to a lawsuit claiming that they had breached fiduciary duty. Source: PlanSponsor Aug 17, 2022: 98point6 Expands Behavioral Health Program to Address U.S. Adolescent Mental Health Crisis SEATTLE, Aug. 17, 2022 /PRNewswire/ -- 98point6, the virtual care company offering simple access to exceptional primary care and integrated behavioral health nationwide, today announced the expansion of its behavioral health program to include emotional and mental health support for adolescents. As the initial program partner, The Boeing Company will now offer the 98point6 virtual therapy solution to its eligible U.S.-based employees and retirees' dependents ages 12-17. Today, nearly one in five children and teens in the U.S. struggle with anxiety, depression, mood swings and self-harm each year. Unfortunately, a significant number of the country's youth still lack access to affordable and quality healthcare. Of those struggling with a mental health issue who do receive treatment, only 7% receive appropriate treatment, according to the American Psychological Association, due in large part to the lack of providers trained to treat this unique age group. The COVID-19 pandemic has only further exacerbated the dire need for accessible services to address this mounting crisis. Among high school students surveyed in 2021, nearly 20% said they'd considered suicide at some point in the last year. An alarming statistic that underscores the expansion of the 98point6 behavioral health program to support adolescent care. "Video-based therapy through 98point6 offers a convenient, confidential way to access the support children need." "Mental health is an important part of a child's overall health and well-being," said Jeff White, Director of Global Health and Well Being, Boeing. "As demand for mental health care continues to rise, we looked for opportunities to expand resources for children. Video-based therapy through 98point6 offers a convenient, confidential way to access the support children need." Boeing offers the program to its eligible health plan dependents who reside in Arizona, California, Illinois, Missouri, South Carolina and Washington state, with plans to expand to other states as licensing requirements are met. Uniquely positioned to respond to the country's rising mental health crisis, 98point6 launched its behavioral health program in February 2021 for patients 18 years and older. The service provides employers, health plans and health systems access to a single-stop virtual care solution that ensures their members and employees are fully supported on the path to mental health. Through on-demand access to the trusted primary care relationship, 98point6 physicians can identify mental health issues further upstream, before they become more burdensome and costly to patients and providers. "Today's youth have experienced unprecedented developmental and educational upheaval and political unrest. This makes connecting them to licensed therapists all the more important," said Dr. Mara Kailin, Senior Director of Behavioral Health at 98point6. "Employers, like Boeing, who are offering behavioral health services are helping to reduce stigma, normalize behavioral health mindsets and encourage individuals to seek help sooner." 98point6 welcomes conversations with additional employers interested in tailoring a behavioral health program for their plan dependents. For more information, visit 98point6.com. Source: PR Newswire Aug 17, 2022: Santa Susana Activists, Residents Slam Regional Water Board's Agreement with Boeing: 'Huge tragedy' Officials with a regional water board in recent days praised a new agreement that would provide safeguards for the environment and communities that live near the polluted Santa Susana Field Laboratory tucked in the hills in Simi and San Fernando valleys. The Los Angeles Regional Water Quality Control Board voted unanimously on August 11 in support of a memorandum of understanding requiring Boeing, which owns the majority of the site, to prove that stormwater runoff is not polluted and human health is not at risk - once the company completes its soil cleanup. Officials with the Department of Toxic Substances Control, or DTSC, called the vote "a monumental step forward after decades of stalled progress." DTSC Director Meredith Williams said in a statement that her agency, "is grateful for the Water Board's careful consideration and looks forward to working together to see this cleanup to completion." But residents and activists said the board ignored their pleas for more stringent rules and voted in support of the memorandum despite calls from nearly 200 activists and residents who urged the board to vote against it, arguing that the new agreement would put the health of local families at risk. The memorandum of understanding, or MOU, involves both the Los Angeles Water Board and DTSC and sets up "methodologies to assess the effectiveness of Boeing's soil cleanup on stormwater quality and ensure contaminants in the soil from past industrial activity have been adequately remediated so that surface water runoff from the site is safe," according to the board. The longtime 2,850-acre facility was home to rocket testing and nuclear research, and in 1959 the site experienced a partial nuclear meltdown that did not become public knowledge until the late 1970s. Between 1947 and 2006, NASA, the Department of Energy, Boeing and its predecessors used the site for the assembly and testing of rocket engines. Years of industrial activity left the area polluted with chemicals and radionuclides dangerous to human health. Source: Aviation Pros Aug 17, 2022: Boeing Bags $3.1B Aircraft Upkeep Deal From NAVSUP The US Naval Supply Systems Command Weapon Systems Support (NAVSUP WSS) has awarded Boeing a five-year Basic Ordering Agreement (BOA) to provide upkeep services for aircraft control systems. The $3.1 billion contract is the largest award the command has ever awarded to the firm. The BOA is "aimed at maximizing end-to-end support of all supplies and services deemed sole source to the Boeing Company." The contract covers the repairs, spares, modification, overhaul, and repair summary data analysis of 358 items in support of the F/A-18 A-D Hornet, F/A-18 E-F Super Hornet, and EA-18 G Growler Flight Control Surfaces Refueling Systems, Airframe Components, and Support Equipment, in addition to AV-8B/TAV8B Harrier II support. The BOA also supports the overall repair of related repairable line items. The services are dedicated to US Navy and other Foreign Military Sales customers, including Spain, Kuwait, Australia, Finland, Malaysia, and Switzerland. 'Historic' Scope and Size "The scope and size of this BOA is historic and will pave the way for future Strategic Sustainment Solutions," NAVSUP WSS Contract Director Cmdr. Joshua Hill said. "This agreement was a combined effort between the NAVSUP WSS F/A-18 IWST and NAVSUP WSS Fixed-Wing Contracts Team, incorporating inputs from multiple stakeholders, working alongside a major strategic supplier for the Navy, all the way up to OPNAV and ASN's office for approval." Fixed Wing Contracts Director Lt. Cmdr. Michael Marchese added the deal is "fully aligned with improving the Navy's End-to-End Supply Chains for multiple aviation weapon systems under the broader Naval Sustainment System-Supply alongside one of the Navy's most critical industry partners." Source: The Defense Post Aug 17, 2022: Singapore Airlines takes delivery of its first Boeing 777F and expands partnership with DHL Express Singapore Airlines took delivery of its first Boeing 777F (Freighter) at Changi International Airport (SIN), its main hub. The delivery extends the partnership between the airline and international logistics company DHL Express, sporting a livery that combines visual elements of both companies. In March 2022, they had signed a partnership agreement to operate five Boeing 777F. Singapore Airlines pilots and maintenance personnel would operate the aircraft, which have a maximum cargo capacity of up to 102 tonnes. The services would be marketed in conjunction with DHL Express, one of the world's largest companies in the segment. According to the Singapore Airlines, the new aircraft will initially operate on routes to the United States, via South Korea, three times a week. A second aircraft is scheduled to enter into service in November this year. Both aircraft will be used to cover the Singapore (SIN) - Seoul-Incheon (ICN) - Los Angeles (LAX) - Honolulu (HNL) - Singapore (SIN) route with up to six weekly frequencies. The remaining three aircraft would be added to the fleet during 2023. With five units, the company will expand its network of intermediate connections between Singapore and the United States and add new terminals in Asia and Australia, according to the statement. Source: Aviacionline.com Aug 16, 2022: Boeing Wishes India on its 75th Independence Day Boeing extended its wishes to India on the country's 75th Independence Day celebrated on 15 August 2022. President, Boeing India, Salil Gupte, president said, "As India commemorates its 75th year of Independence, we look back at our own 75-plus years in the country and feel very proud to be part of India's aerospace and defence journey. Our relationship spans a network of more than 280 Make in India suppliers from whom the company sources manufacturing output worth 1 billion USD annually, and our JV, Tata Boeing Aerospace Ltd., helping make India an integral part of Boeing's global supply chain." He added, "Our presence in India also includes deep investments beyond manufacturing, in engineering, through 3,500 engineers and technologists at the Boeing India Engineering & Technology Center (BIETC) in Bengaluru and Chennai, and in training and skill development that harness the power of Indian talent to Make in India, and engineer and innovate in India, for India, and for the world. There is only much more to look forward to as we count down to being in India@100." Source: FORCE Magazine Aug 16, 2022: Delta Air Lines partners with Aviation Partners Boeing to support sustainability goals Aviation Partners Boeing (APB) and Delta Air Lines, Inc. (Delta) share a commitment to reducing aircraft carbon emissions. And in line with that on Tuesday, APB announced Delta's recent agreements to purchase Split Scimitar Winglets for its 737-800 fleet and for a number of recently acquired 737-900ER aircraft. Delta also recently agreed to purchase Scimitar Blended Winglets for up to 70 of Delta's 757-200 aircraft. Both the Split Scimitar Winglets and Scimitar Blended Winglets are upgrades to APB's ubiquitous Blended Winglets. Delta has previously purchased and installed APB winglet products on its 737-800, 737-900ER, 757-200, 757-300, and 767-300ER fleets. APB is proud that Delta has, once again, turned to APB's winglet products across its fleets to deliver savings in jet fuel consumption and gains in fuel efficiency. Also Read - Menzies-RAS expands in Pakistan with new deals "The recent challenges for the industry have forced many airlines to focus on efforts other than emissions reduction and operational efficiency," said Craig McCallum, Aviation Partners Boeing senior director of sales and marketing. "Delta's recent agreements to purchase additional APB winglet products is a clear indication of Delta Air Lines' unwavering dedication to building a more sustainable future for air travel." Source: STAT Times. Aug 16, 2022: Airbus and Boeing Report July 2022 Commercial Aircraft Orders and Deliveries At Farnborough International Airshow 2022 in July, Delta Air Lines placed an order for 100 Boeing 737-10s, the largest 737 MAX variant, with options for 30 additional jets. According to Delta, the aircraft will be 20-30 percent more fuel efficient than the retiring Delta planes it will replace. Photo Source: The Boeing Company Boeing and Airbus delivered 26 and 46 commercial jets in July 2022, compared to 28 and 47 deliveries, respectively, in the same month last year. Year-to-date, Boeing and Airbus have delivered 242 and 341, aircraft compared to 184 and 344, respectively, in the first seven months of 2021. So far this year, Boeing is 58 deliveries ahead and Airbus is three deliveries behind last year's totals. Following a more than challenging 2020 due to the COVID-19 pandemic, 2021 was a year of recovery for the two largest commercial plane makers. 2022 is well underway to be another year of recovery for the commercial aircraft manufacturing industry, despite supply chain challenges and events currently unfolding in Ukraine. Boeing and Airbus still have a long way to go before deliveries are back to pre-pandemic levels, though. For the full year 2021, Boeing delivered 340 aircraft, compared to 157 in 2020 and 380 in 2019. Boeing's last "normal" year was 2018 - before COVID-19 and the 737 MAX grounding - when it delivered 806 jets, a level that will likely not be recaptured before 2024 or 2025. The past three years have been extremely challenging for Boeing but, despite Dreamliner quality issues and 777X delays, the outlook is bright. The 737 MAX is approved to fly in nearly every country, and since late 2020 the fleet has flown more than one million flight hours. The aircraft, however, has not yet returned to commercial service in China despite the fact that the Civil Aviation Administration of China (CAAC) ungrounded the 737 MAX in December of last year. In 2021, Airbus delivered 611 aircraft and won the deliveries crown for the third year in a row. Deliveries were up from 566 in 2020 but remain well below the company's all-time record high of 863 shipments in 2019. Airbus is expected to retain the deliveries lead for the foreseeable future due to the company's comfortable backlog lead over its American rival. Prior to 2019, Boeing had out-delivered Airbus every year since 2012. As indicated above, in July 2022, Boeing delivered 26 jets, including 23 737s (all MAX), two 767s, and one 777. As of June of this year, the 737 program was producing aircraft at an official rate of 31 per month, up from 27. The rate of 27 per month was maintained between November 2021 and May 2022 and, prior to that, the monthly rate was just 19. Recently, The Seattle Times reported that delays in the supply of parts had resulted in a slowdown in 737 MAX production. Despite the rate increase and strong 737 MAX deliveries in June in general, supply chain issues are likely to persist for the time being. Boeing had been considering a boost in 737 production to 38 jets per month in the first half of 2023, followed by another increase to 47 jets per month by the end of 2023, but these plans have now been postponed. In connection with the release of Boeing's second quarter 2022 earnings, President and CEO David Calhoun commented, "But I do believe we're at a state now where at 31, we are comfortable the industry can get there and maybe have already gotten there, and then we are going to watch as they qualify more capacity going forward before we pull those rates up." On August 10, deliveries of the Boeing 787 Dreamliner were resumed following a suspension of shipments that lasted nearly 16 months. The aircraft was delivered to American Airlines, which received its first Dreamliner since April 2021. Boeing suspended Dreamliner deliveries in May 2021 for the second time in less than a year. The current 787 production rate is approximately two aircraft per month, and Boeing expects to continue at this rate for now but will likely return to five per month over time. In March of this year it was reported that the company was testing the ability of suppliers to meet output scenarios as high as seven per month by the end of 2023. Boeing has approximately 120 787s currently awaiting delivery. The U.S. Federal Aviation Administration (FAA) has stated that it will inspect each aircraft before issuing airworthiness certificates. The 777 program was expected to get a new addition in late 2023 with the first delivery of the 777X, but in April Boeing announced this will now not happen before 2025. This reflects an updated assessment of the time required to meet certification requirements. According to Boeing, the 777-9 production rate ramp-up is being adjusted to minimize inventory and the number of planes requiring "change incorporation," including a temporary pause through 2023. However, Boeing is taking advantage of the adjustment to the 777-9 production schedule by adding 777 freighter capacity starting in late 2023. In January of this year, Boeing launched a new 777X-based freighter, thereby expanding its 777X and cargo portfolio. Qatar Airways will be the 777-8F launch customer. In July 2022, Airbus delivered 46 jets, including five A220s, 35 A320s (all NEO), one A330, and five A350s. During 2021, Airbus steadily increased A320 production from 40 per month to 43 in Q3 2021 before finishing the year at a rate of 45 per month. Production will continue to be increased until reaching a monthly rate of 65 by early 2024 (recently pushed back from mid-2023 due to supply chain challenges). Also, Airbus is working with its supply chain to increase the A320 production rate to 75 aircraft per month in 2025. The A321XLR successfully accomplished its first flight on June 15, 2022. Entry into service, initially planned for the end of 2023, is now expected to take place in early 2024. The A220, meanwhile, is being produced at a rate of six aircraft per month, up from five at the beginning of the year - with a monthly production rate of 14 envisioned by the middle of the decade. The A350 production rate currently averages five per month and was expected to be increased to six by early 2023. However, the rate increase may be delayed until the end of 2023 due to sanctions on Russia and a legal fight between Airbus and Qatar Airways over A350 paint/surface issues. Airbus is currently producing two A330s per month, a rate that is expected to be increased to nearly three aircraft by the end of 2022. In 2021, Airbus launched the A350 freighter, or A350F, which is a major and much-needed boost to the company's competitiveness in the cargo segment. Boeing has long dominated the cargo space with its 737-800BCF, 767-300BCF, 767-300F, 777F, 777-8F and 747-8F offerings. Until now, Airbus has only offered the A330-200F, which has not performed well in competition against Boeing's popular 767-300F. With the launch of the A350F, it appears Airbus is getting serious about capturing more of the cargo aircraft market. The A350F, which carries up to 120 tons (109 metric tons) of cargo, received its first order in November of last year and will predominantly compete with the 777F and later the 777X freighter. In comparison, the 777F has a cargo capacity of up to 112 tons (102 metric tons). To date, the A350F has accumulated 31 net new orders. Turning to the July orders review, both companies had a strong month thanks to Farnborough International Airshow 2022 - Airbus in particular. Boeing booked orders from five customers for a total of 130 jets. However, the company also reported four cancellations (one 737 MAX and three 787s), resulting in 126 net new orders in total. The largest order was placed by Delta Air Lines and included 100 737-10s (the 737-10 is the largest 737 MAX variant), with options for 30 more jets. Also, Qatar Airways ordered 25 737-10s, followed by smaller orders from Air Canada (two 777Fs), FedEx (one 777F), and American Airlines (two 737 MAXs). Year to date, Boeing has accumulated 312 net new orders (416 gross orders). In 2021, Boeing booked 909 gross orders and received 430 cancellations, for a total of 479 net new orders (before ASC 606 changes). Please note that for comparison reasons, we do not include the so-called ASC 606 accounting adjustments in the numbers reported in this article and regard net new orders as gross orders minus cancellations. Source: Defense Security Monitor Aug 16, 2022: Potential hack vulnerability for some Boeing planes fixed: Researchers (Reuters) - A digital vulnerability in the computer systems used on some Boeing Co. aircraft that could have allowed malicious hackers to modify data and cause pilots to make dangerous miscalculations has been fixed, security researchers said Friday. Older versions of a digital tool used to calculate takeoff and landing speeds on some aircraft could be tampered with by hackers with direct access to an "Electronic Flight Bag," or EFB, a tablet device used by pilots to plan flights, cybersecurity company Pen Test Partners said in a report. "If data modification occurs, and the resulting miscalculations are not detected during the crew's required cross check or verification process, an aircraft could land on a runway too short, or take off at incorrect speeds potentially resulting in a tail strike or runway excursion," said the report, which was presented at the DEF CON hacker convention in Las Vegas on Friday. In a statement, Boeing said it was not aware of any airplane that had been affected by the issue but had released a software update to address it. "The likelihood of this impacting flight safety is incredibly low," Alex Lomas, a security consultant at Pen Test Partners, said during Friday's presentation. "Pilots are trained to handle unusual situations." Source: Business Insurance Aug 16, 2022: The Boeing Company is Up for the 2nd Day in a Row The Hourly View for The Boeing Company Currently, BA's price is up $0.26 (0.15%) from the hour prior. It's been a feast for bulls operating on an hourly timeframe, as The Boeing Company has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on The Boeing Company. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment - meaning the shorter durations are above the longer duration averages, implying a sound upward trend. Source : CFDTrading Aug 16, 2022: Boeing (BA) Secures $278M Deal to Aid F/A 18 Aircraft Program The Boeing Company BA recently clinched a contract involving the F/A 18 aircraft program. The award has been offered by the Defense Logistics Agency Aviation, Philadelphia, PA. Valued at $278 million, this contract is projected to get completed by Aug 8, 2027. Per the terms, Boeing will procure aircraft consumable parts for F/A-18 jets. Significance of F/A-18 Jets Boeing's F/A-18 Block III Super Hornet is a twin-engine, supersonic, all-weather multirole fighter jet, which is capable of performing virtually every mission in the tactical spectrum. Boeing believes that the Super Hornet is the most cost-effective aircraft in the U.S. tactical aviation fleet, costing less per flight hour than any other tactical aircraft in the inventory. F/A-18 Super Hornet combat aircraft has emerged as the leading choice of weapon for militaries across the world. The Royal Australian Air Force and the Kuwait Air Force, apart from the U.S. Navy, operate these fighter aircraft in large numbers. Furthermore, nations like Canada, Finland, Switzerland and Spain currently have Boeing's Super Hornet in their arsenal. The F/A-18 fleet enjoys strong demand in the aircraft market, which is further evident from the latest contract win. Growth Prospects With rising security threats across the globe, emerging economies like the Asia Pacific, the Middle East and South America are spending a lot on enhancing their defense arsenals. Meanwhile, developed nations like the United States and Europe have already been leading the defense market. With the United States being the largest weapons exporter worldwide, the nation has been spending amply on defense products, wherein the combat aircraft enjoys one of the dominating positions. Boeing, being the largest aircraft manufacturer in the United States, thus enjoys a dominant position in the combat aircraft market. Per a Mordor Intelligence report, the global combat aircraft market is expected to witness a CAGR of 2.5% during the 2021-2026 time period, with North America constituting the largest share of this market. Such growth can be attributed to a rise in global threats and geopolitical instabilities, and increased spending on defense. These projections should benefit Boeing along with other U.S.-based combat jet manufacturers like Northrop Grumman NOC, Lockheed Martin LMT and Textron TXT. Lockheed's Aeronautics business segment is engaged in the research, design, development, manufacture, integration, sustainment, support and upgrade of advanced military aircraft, including combat and air mobility aircraft, unmanned air vehicles and related technologies. Its major programs include F-35, C-130 Hercules, F-16 Fighting Falcon and F-22 Raptor jets. Lockheed Martin's second-quarter 2022 earnings surpassed the Zacks Consensus Estimate of $6.29 by 0.5%. The company has a four-quarter average earnings surprise of 64.46%. Since its inception, Northrop Grumman has been a pioneer in the development of manned aircraft for combat. Northrop Grumman also has a tradition of providing technological leadership in all aspects of military aviation and aircraft, such as manned, unmanned, targeting, surveillance, and aircraft self-protection systems that enable warfighters to accomplish missions anytime, anywhere and under any conditions. Northrop Grumman's second-quarter 2022 earnings surpassed the Zacks Consensus Estimate of $6.03 by 0.5%. The company has a four-quarter average earnings surprise of 3.92%. Textron's business unit, Textron Aviation Defense designs, builds and supports versatile and globally known military aircraft preferred for training and attack missions. Some of Textron's renowned products include Beechcraft T-6C trainer and AT-6 Wolverine. Source: Nasdaq Aug 12, 2022: Boeing (NYSE: BA) Given a $281.00 Price Target at The Goldman Sachs Group Boeing (NYSE:BA - Get Rating) has been assigned a $281.00 target price by analysts at The Goldman Sachs Group in a note issued to investors on Wednesday, Borsen Zeitung reports. The Goldman Sachs Group's price objective would indicate a potential upside of 67.38% from the company's current price. Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company lowered their price objective on shares of Boeing from $214.00 to $210.00 and set an "overweight" rating on the stock in a research note on Thursday, July 28th. Royal Bank of Canada set a $200.00 price target on shares of Boeing in a research note on Monday, August 1st. Sanford C. Bernstein decreased their price target on shares of Boeing from $239.00 to $216.00 in a research note on Thursday, April 28th. JPMorgan Chase & Co. lifted their price target on shares of Boeing from $188.00 to $200.00 in a research note on Thursday, July 28th. Finally, UBS Group set a $263.00 price target on shares of Boeing and gave the stock a "buy" rating in a research note on Thursday, April 28th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $219.56. Source: Defense World Aug 12, 2022: Column: Did California Give Boeing a Pass On a Major Pollution Cleanup? Back in 2007, the state of California reached an agreement with Boeing Co. requiring the company to clean up the polluted site of the Santa Susana Field Laboratory, outside Simi Valley, to an exacting environmental standard. The site, on 2,850 acres 30 miles from downtown Los Angeles, had been used for six decades as a government-sponsored rocket and nuclear testing complex. When the activities ceased in 2006, what was left behind was soil and water contaminated by radioactive detritus, PCBs, heavy metals, tricholoroethylene "and a witches' brew of other poisons," as the Natural Resources Defense Council once put it. The site is "one of the most toxic sites in the United States by any kind of definition," Jared Blumenfeld, head of the California Environmental Protection Agency, told me in 2020. "It demands a full cleanup." Source : Aviation Pros Aug 12, 2022: NASA, Boeing to Hold Media Update on Starliner Progress NASA and Boeing will host a media teleconference at 1 p.m. EDT Thursday, Aug. 25, to provide an update on the agency's Boeing Crew Flight Test (CFT) to the International Space Station - the first flight with astronauts on the company's CST-100 Starliner spacecraft. Leadership on the call also will discuss data reviews from Boeing's uncrewed Orbital Flight Test-2 to the space station, which successfully completed in May 2022. The briefing participants are: Kathryn Lueders, associate administrator, NASA's Space Operations Mission Directorate, NASA Headquarters Steve Stich, manager, NASA's Commercial Crew Program, NASA's Kennedy Space Center Mark Nappi, vice president and program manager, CST-100 Starliner, Boeing To participate in the call, media must RSVP to: ksc-newsroom@mail.nasa.gov no later than one hour prior to the start of the event. Audio of the teleconference will livestream on NASA's website. CFT will demonstrate the ability of Starliner and the United Launch Alliance's Atlas V rocket to safely carry astronauts to and from the International Space Station. NASA will fly two astronaut test pilots, Barry "Butch" Wilmore and Suni Williams, on the flight test to the space station, where they will live and work off the Earth for about two weeks. Following a successful test flight with astronauts, NASA will begin the final process of certifying the Starliner spacecraft and systems for regular crew rotation flights to the space station. Source: NASA Aug 12, 2022: Delays on M6 explained - by British Airways Boeing 747 plane A Boeing 747 was seen travelling through the West Midlands along the M6 - and this is why. The plane, dubbed 'The Deck', made its way from Kemble in Gloucestershire to Greater Manchester yesterday afternoon. The plane started its journey at around 9.30am and took five hours to reach Salford. The aircraft was being escorted by Gloucester Police. Drivers faced major delays as a result of the aircraft's slow movement. Footage showed cars piling up along the M6 and M5 as motorists were left stuck in slow-moving traffic. READ MORE:Multiple fire crews tackle suspected arson attack at Coventry playing fields The plane will be transformed into a unique visitors centre, flight simulator and tourist attraction. It will be used by airline memorabilia company Doors2Manual as a backdrop for weddings, conferences and educational purposes. It will also be the UK's only 747 flight simulator using a real aircraft flight deck. The plane had an eventful life before its ambitious trip across the country. It was previously used for commercial flying before a fleet of British Airway's Boeing 747s were put to rest as passenger numbers plummeted during the pandemic due to travel restrictions. British Airways then scrapped all of its 31 aircrafts while Virgin Atlantic put its last seven of Boeing 747s out of operations. Source: Coventry Telegraph Aug 12, 2022: Avcorp announces 2022 Second Quarter Financial Results VANCOUVER, BC, Aug. 11, 2022 /PRNewswire/ - Avcorp Industries Inc. (TSX: AVP) (the "Company", "Avcorp" or the "Avcorp Group") today announced its financial results for the quarter ended June 30, 2022. All amounts are in Canadian currency unless otherwise stated. 2022 Second Quarter Highlights Second quarter 2022 revenue was $29,257,000 compared to $24,385,000 in 2021. 2022 revenue increased by $4,872,000 in comparison to 2021, mainly attributed to the continued growth in the F35 program and recovery of Boeing customer revenues in the Delta Facility. Second quarter 2022 net loss was $5,569,000 compared to net loss of $1,212,000 in 2021. The net income in 2021 was supported by the government loan forgiven of $2,195,000 and Canada Emergency Wage Subsidies ("CEWS") of $1,548,000 recognized as other income and a modification gain on bank indebtedness of $1,155,000. Second quarter 2022 cash outflows from operating activities were $1,316,000 compared to inflows of $704,000 in 2021. The second quarter of 2021 cash flows from operating activities were supported by the receipt of CEWS of $2,078,000 and the receipt of Canada Emergency Rent Subsidies ("CERS") of $305,000. On April 1, 2022, the Company signed a contract with BLR Aerospace to produce King Air 200 Wingtips and shipped the first delivery on June 20, 2022. On April 12, 2022, the Company signed a contract extension to 2027 with Boeing to provide the detail parts, bench top assemblies and metal bonded assemblies for the Boeing 737 and 777 aircrafts. On May 4, 2022, the Company entered into a definitive arrangement agreement (the "Original Agreement") with Latecoere S.A. ("Latecoere") pursuant to which Latecoere agreed to acquire all of the issued and outstanding common shares of Avcorp (each, an "Avcorp Share") for cash consideration of $0.11 per Avcorp Share, by way of a court-approved plan of arrangement under the Canada Business Corporations Act (the "Arrangement"). Pursuant to the Arrangement, the options (the "Avcorp Options") exercisable to acquire Avcorp Shares outstanding immediately prior to the effective time of the Arrangement will automatically vest and be cancelled in exchange for a cash payment from the Company equal to the amount (if any) by which $0.11 exceeds the exercise price of such Avcorp Option. Together with the repayment or assumption of Avcorp's net debt and other lease liabilities, the Arrangement implies a total transaction value of approximately $139 million for the Company. Source: Yahoo Finance Aug 12, 2022: Boeing Can Start Delivering 787 Dreamliners Again Boeing can begin delivering 787s again, 14 months after stopping deliveries of the Dreamliner when manufacturing flaws were discovered on several undelivered models last year. American Airlines received the latest 787-8 to join its fleet from Boeing's South Carolina factory on Wednesday. Issues with composite skin flatness and small gaps discovered between sections of the fuselage in some undelivered 787s led Boeing to lower the production rate and stop delivering the Dreamliner in May last year. At the time, Boeing had 100 total 787s waiting to be delivered, all of which have been cleared to resume delivery flights now by the FAA. Source: Aviation Today Aug 11, 2022: Boeing 747 Top Deck Performs Final Journey By Road To Become Event Space While it was inevitable that Boeing 747-400s worldwide would eventually be retired from service due to age and inefficiency, the pandemic, unfortunately, sped things up, much to the sadness of aviation lovers. However, one UK-based company ensures that the aircraft's legacy lives beyond retirement, as it is preserving the top deck of a British Airways Boeing 747-400. Today, that very same deck was transported to Manchester, where it's set to become a new tourist attraction. An aircraft on the road The British Airways Boeing 747-400 was formerly registered G-BYGA, aged 23 years old. Besides being an icon in the flag carrier's long-haul fleet, the aircraft was also one of the airline's last Boeing 747-400's used for flying, operating on March 21st, 2020, when it came back from New York to London. Eventually, the aircraft was stored in Kemble and has since been planned to be set up in Barton City Airport. Source: Simple Flying Aug 11, 2022: Boeing, Nammo test Ramjet 155 artillery weapon WASHINGTON ― Boeing and Nammo have jointly test-fired a Ramjet 155 weapon, amid the U.S. Army's efforts to modernize its long-range precision fire capability. During the June 28 test at the Andoya Test Center in Norway, the Ramjet 155 was fired from an L39 cannon and its engine successfully ignited, according to a statement from Boeing, an American firm partnered with the Norwegian company to develop and produce boosted artillery projectiles. The engine draws in air to bolster the forward motion of the projectile. The companies aim to design their artillery round for use by L39 and L58 cannons, the statement read. The Army currently uses the L39 cannon and is preparing to field an Extended Range Cannon Artillery weapon in fiscal 2023 that is an L58, meaning it has a longer gun tube to achieve greater range. "We believe the Boeing Ramjet 155, with continued technology maturation and testing, can help the U.S. Army meet its long-range precision fires modernization priorities," Steve Nordlund, Boeing Phantom Works vice president and general manager, said in the statement. Source: Defense News Aug 11, 2022: The Boeing Company Does it Again: Heads Up for the 2nd Straight Day The Hourly View for The Boeing Company At the moment, BA's price is up $0.13 (0.08%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on The Boeing Company. Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment - meaning the shorter durations are above the longer duration averages, implying a sound upward trend. Source: CFDTrading Aug 11, 2022: Los Angeles Capital Management LLC Has $1.57 Million Stake in The Boeing Company (NYSE: BA) Los Angeles Capital Management LLC increased its position in The Boeing Company (NYSE:BA - Get Rating) by 87.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,216 shares of the aircraft producer's stock after buying an additional 3,822 shares during the period. Los Angeles Capital Management LLC's holdings in Boeing were worth $1,573,000 at the end of the most recent reporting period. A number of other hedge funds have also recently added to or reduced their stakes in the company. Freemont Management S.A. acquired a new position in Boeing in the first quarter worth approximately $9,173,000. Motco acquired a new position in Boeing in the first quarter worth approximately $96,000. U S Global Investors Inc. increased its holdings in Boeing by 8.5% in the first quarter. U S Global Investors Inc. now owns 332,469 shares of the aircraft producer's stock worth $63,668,000 after buying an additional 26,006 shares during the last quarter. Private Management Group Inc. acquired a new position in Boeing in the first quarter worth approximately $351,000. Finally, Delta Financial Advisors LLC increased its holdings in Boeing by 6.0% in the first quarter. Delta Financial Advisors LLC now owns 3,245 shares of the aircraft producer's stock worth $621,000 after buying an additional 184 shares during the last quarter. Institutional investors and hedge funds own 53.96% of the company's stock. Source: Defense World Aug 11, 2022: Boeing joins the ELISA Project as a Premier Member to Strengthen its Commitment to Safety-Critical Applications SAN FRANCISCO, Aug. 11, 2022 /PRNewswire/ -- Today, the ELISA (Enabling Linux in Safety Applications) Project announced that Boeing has joined as a Premier member, marking its commitment to Linux and its effective use in safety critical applications. Hosted by the Linux Foundation, ELISA is an open source initiative that aims to create a shared set of tools and processes to help companies build and certify Linux-based safety-critical applications and systems. "Boeing is modernizing software to accelerate innovation and provide greater value to our customers," said Jinnah Hosein, Vice President of Software Engineering at the Boeing Company. "The demand for safe and secure software requires rapid iteration, integration, and validation. Standardizing around open source products enhanced for safety-critical avionics applications is a key aspect of our adoption of state-of-the-art techniques and processes." As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products, and space systems for customers in more than 150 countries. It's already using Linux in current avionics systems, including commercial systems certified to DO-178C Design Assurance Level D. Joining the ELISA Project will help pursue the vision for generational change in software development at Boeing. Additionally, Boeing will work with the ELISA Technical Steering Committee (TSC) to launch a new Aerospace Working Group that will work in parallel with the other working groups like automotive, medical devices, and others. "We want to improve industry-standard tools related to certification and assurance artifacts in order to standardize improvements and contribute new features back to the open source community. We hope to leverage open source tooling (such as a cloud-based DevSecOps software factory) and industry standards to build world class software and provide an environment that attracts industry leaders to drive cultural change at Boeing," said Hosein. Linux is used in all major industries because it can enable faster time to market for new features and take advantage of the quality of the code development processes. Launched in February 2019, ELISA works with Linux kernel and safety communities to agree on what should be considered when Linux is used in safety-critical systems. The project has several dedicated working groups that focus on providing resources for system integrators to apply and use to analyze qualitatively and quantitatively on their systems. "Linux has a history of being a reliable and stable development platform that advances innovation for a wide range of industries," said Kate Stewart, Vice President of Dependable Embedded Systems at the Linux Foundation. "With Boeing's membership, ELISA will start a new focus in the aerospace industry, which is already using Linux in selected applications. We look forward to working with Boeing and others in the aerospace sector, to build up best practices for working with Linux in this space." Other ELISA Project members include ADIT, AISIN AW CO., Arm, Automotive Grade Linux, Automotive Intelligence and Control of China, Banma, BMW Car IT GmbH, Codethink, Elektrobit, Horizon Robotics, Huawei Technologies, Intel, Lotus Cars, Toyota, Kuka, Linuxtronix. Mentor, NVIDIA, SUSE, Suzuki, Wind River, OTH Regensburg, Toyota and ZTE. Source: PR Newswire Aug 10, 2022: You Might See A British Airways Boeing 747 Cockpit On The Motorway Tomorrow Prior to the onset of the coronavirus pandemic, British Airways' Boeing 747-400s were an iconic sight on the UK flag carrier's long-haul routes all over the world. Unfortunately, the impacts of the global health crisis forced the airline's jumbo jets into an early retirement. However, one of their cockpits is being preserved as a tourist attraction, and it will hit the road for its new lease of life tomorrow! A lengthy journey The aircraft in question bore the registration G-BYGA during its flying days, and its currently in storage at Cotswold Airport, Kemble (GBA) for scrapping. However, thanks to an initiative by aviation memorabilia company Doors2Manual, the aircraft's cockpit won't be scrapped. Instead, it will be preserved as a tourist exhibit. Source: Simple Flying Aug 10, 2022: Q&A: Clint Church, Chief Engineer, Aurora Flight Sciences Can you describe your job? Aurora was my first engineering role, 32 years ago. I started on the first anniversary of the company, which we celebrated with champagne in little paper cups at the end of the day. At the time the focus was on building robotic aircraft as a UAV technology development company. That's what we continue to do. Now as chief engineer I lead the engineering and test organizations and am responsible for all test operations including flight testing. How has the company changed? It was an aerospace startup, which was unusual then. We developed a UAV on a shoestring budget to do atmospheric research. That led into working on NASA programs, such as the Perseus UAVs. There were ten employees then and we have grown up to where we are a thousand-person class company. I feel fortunate to have worked here during that time. The original startup culture is still here and is now evolving as part of Boeing, which opens up the potential of what the company can do even more, and that's really exciting. Source: Aerospace Testing International Aug 10, 2022: Boeing and Nammo conduct long-range Ramjet 155 artillery test Boeing and Nammo have jointly conducted a test of a ramjet-powered artillery projectile at the Andoya Test Center in Norway. The long-range test follows years of ramjet technology development by the team that included conducting more than 450 static or short-range tests. During the latest test, a Boeing Ramjet 155 projectile was fired from a cannon. According to a Boeing statement, the projectile's ramjet engine ignited successfully and it maintained stability and a controlled engine combustion process throughout the flight. Source: Army Technology Aug 10, 2022: Boeing cleared to resume deliveries of 787 Dreamliner The US Federal Aviation Administration (FAA) on Monday said it is satisfied with changes Boeing Co has made in the production of its 787 Dreamliner passenger jet, clearing the way for the company to resume deliveries. American Airlines Group Inc said it expects to get its first new 787 in more than 15 months as early as Wednesday. The FAA announcement confirmed reports late last month and came days after the agency's acting chief met with safety inspectors who oversee Boeing. Source: Taipei Times Aug 10, 2022: Boeing (LON: BOE) Stock Price Passes Above Two Hundred Day Moving Average of $165.72 The Boeing Company (LON:BOE - Get Rating)'s stock price crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of GBX 165.72 ($2.00) and traded as high as GBX 166.10 ($2.01). Boeing shares last traded at GBX 165.70 ($2.00), with a volume of 7,629 shares traded. Boeing Stock Performance The stock has a market cap of Pound983.94 million and a PE ratio of -20.00. The company has a quick ratio of 0.28, a current ratio of 1.25 and a debt-to-equity ratio of 6,813.79. The firm has a 50 day moving average price of GBX 143.93 and a 200 day moving average price of GBX 165.72. Boeing Company Profile (Get Rating) The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital. Source: Defense World Aug 10, 2022: FAA clears Boeing to resume 787 deliveries After more than a year, aviation giant Boeing will be allowed to resume deliveries of its 787 Dreamliner aircraft "in the coming days," after the company made changes to its manufacturing process, U.S. air safety regulators have announced. Deliveries of the top-selling widebody plane have been halted since spring 2021, so the news will be welcomed by U.S. airlines and travelers who have suffered from massive delays and canceled flights in recent weeks, partly due to the shortage of aircraft. "Boeing has made the necessary changes to ensure that the 787 Dreamliner meets all certification standards," the Federal Aviation Administration said in a statement. The plane's travails date to late summer 2020, when the company uncovered manufacturing flaws with some jets. Boeing subsequently identified additional issues, including with the horizontal stabilizer. The difficulties curtailed deliveries between November 2020 and March 2021. Boeing suspended deliveries later in spring 2021 after more problems surfaced. Acting FAA Administrator Billy Nolen met with safety inspectors in South Carolina last week to confirm they were satisfied with the company's improvements, which were made to ensure they comply with standards and to identify potential risks after defects were uncovered on the plane. "The FAA will inspect each aircraft before an airworthiness certificate is issued and cleared for delivery," the statement said. "We expect deliveries to resume in the coming days." Source: Hurriyet Daily News Aug 09, 2022: The Zacks Analyst Blog Highlights T-Mobile US, NextEra Energy, Advanced Micro Devices, The Boeing, and Johnson Controls International Chicago, IL - August 9, 2022 - Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: T-Mobile US, Inc. TMUS, NextEra Energy, Inc. NEE, Advanced Micro Devices, Inc. AMD, The Boeing Co. BA and Johnson Controls International plc JCI. Here are highlights from Monday's Analyst Blog: Top Research Reports for T-Mobile, NextEra and AMD The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including T-Mobile US, Inc., NextEra Energy, Inc. and Advanced Micro Devices, Inc. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today. You can see all of today's research reports here >>> T-Mobile shares have outperformed the Zacks Wireless National industry over the past year (+1.1% vs. -8.7%). The company has raised the guidance for 2022 across the board. It is on track to complete the Sprint customer network decommissioning by year's end. The company has augmented its 5G footprint in the country by introducing 5G Home Internet services in several states. Its Extended Range 5G covers 320 million people. The Ultra Capacity 5G covers 235 million people. It intends to bring more competition to home broadband, especially in underserved rural markets. However, it operates in a fiercely competitive and almost saturated U.S. telecom market that lowers its growth potential to some extent. Several promotional activities to lure additional customers are further eroding the profitability of the company. Source: Nasdaq Aug 09, 2022: Hypersonic Technology Market 2022 Business Scenario - Aerojet Rocketdyne Holdings Inc., The Boeing Company, Brahmos Aerospace Pvt. Ltd The Hypersonic Technology Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report. Click here to get a Free Sample Copy of the Report: (Flat 25%) https://www.marketinsightsreports.com/reports/04126736419/global-hypersonic-technology-market-size-status-and-forecast-2022-2028/inquiry?Mode=AD Top Leading Companies of Global Hypersonic Technology Market are Aerojet Rocketdyne Holdings Inc., The Boeing Company, Brahmos Aerospace Pvt. Ltd., Lockheed Martin Corporation, Thales Group, General Dynamics Corporation, Northrop Grumman Corporation, Raytheon Company, SAAB SA, Dynetics Inc., SpaceX, L3 Harris Technologies Inc and others. Global Hypersonic Technology Market Split by Product Type and Applications: This report segments the global Hypersonic Technology market based on Types are: Air Launched Surface Launched Subsea Launched Based on Application, the Global Hypersonic Technology market is segmented into: Military Space Global Hypersonic Technology Market: Regional Analysis The report offers an in-depth assessment of the growth and other aspects of the Hypersonic Technology market in important regions, including the U.S., Canada, Germany, France, the U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific, and Latin America. Source: Shanghaiist Aug 09, 2022: Venezuela demands Argentina to return detained Boeing 747-300M with Iranian links Over the weekend, a campaign began in Venezuela to demand Argentina to return the Boeing 747-300M, registration number YV3531, operated by EMTRASUR, a subsidiary of the state-owned airline Conviasa, which has been held at the Ezeiza International Airport in Buenos Aires since the beginning of June in the framework of a judicial investigation into possible links between members of the plane's crew and Iranian terrorist groups. Using the hashtag #DevuelvanElAvion, not only the whole arc of Venezuelan institutions linked to aeronautics but other government agencies seconded Nicolas Maduro, who expressed a hard stance during a speech last Friday. Someday the hour of justice will come, someday the hour of truth will come, and that wealth, those goods, that gold, those airplanes, as in the case of Argentina that belong to Venezuela we will recover them from kidnapping and blatant theft, Maduro said. Now they intend to steal from us an airplane legally owned by Venezuela in Argentina by mandate of an imperial court of the state of Florida in the United States, they intend to steal from us a gigantic and modern cargo plane, the president continued. - Advertisement - Our Venezuela raises its protest and asks the Argentine people for all their support to recover that airplane that belongs to a Venezuelan company and intends to be stolen after having it kidnapped for two months, as they stole our gold in London, concluded Maduro, in reference to the confiscations to which other Venezuelan assets were subject abroad within the framework of different sanctions applied against the government. Diosdado Cabello, first vice-president of the United Socialist Party of Venezuela, also expressed his opinion on the matter, saying that the Argentine government sides with those who have run over the Venezuelan people () it flirts with them to see how they help them. We demand the return of the Venezuelan plane to the government of Mr. Fernandez, and that it returns that plane to our territory, as soon as possible. That plane was not carrying weapons, that plane was not endangering the safety of anyone, on the contrary, they endangered the safety of the crew, by denying them fuel and putting them to orbit until they ran out of fuel, added Cabello. The Venezuelan claim came days after the U.S. Department of Justice requested the Argentine authorities to seize the Boeing 747-300M alleging that being a U.S.-made aircraft it is subject to forfeiture due to violations of export control laws related to the unauthorized transfer of the aircraft from Mahan Air (a company they call affiliated with the Islamic Revolutionary Guard Force-Qods / IRGC-QF) to Empresa de Transporte Aereo Cargo del Sur (EMTRASUR), a subsidiary of CONVIASA. The Boeing 747-300M was detained at Ezeiza airport on June 8 after Uruguay denied it authorization to enter its airspace. Source: Aviacionline.com Aug 09, 2022: Aerospace and Defence Market Is Booming Worldwide The Boeing Company, GE Aviation, Kawasaki Heavy Industries Ltd., Lockheed Corp, Airbus Group SE and more According to Qurate Research's research experts, "Global Aerospace and Defence Market 2022 Insights, Size, Share, Growth, Opportunities, Emerging Trends, Forecast to 2028." The study is an anthology of in-depth research studies on many aspects of the global Aerospace and Defence industry. It is an admirable effort to offer a true, transparent picture of the current and future conditions of the global Aerospace and Defence market, based on credible facts and exceptionally accurate data. "Global Aerospace and Defence Market Insights, Size, Share, Growth, Opportunities, Emerging Trends, Forecast to 2028," according to a Qurate Research report. Several in-depth research studies on various facets of the worldwide Aerospace and Defence market are included in the report. It's a commendable effort to present a true, transparent view of the existing and future situations of the worldwide Aerospace and Defence market, based on reliable facts and extraordinarily precise statistics. Source: Shanghaiist Aug 08, 2022: Boeing chief defends his record amid production delays Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour. https://www.ft.com/content/a5735537-43af-4ddf-b119-7216b6000ccf Boeing chief executive Dave Calhoun has defended his record at America's largest aerospace company, insisting that he has sharpened its focus on engineering and that the indebted group could launch a new aircraft without having to raise money from shareholders. Calhoun said the company had made significant progress since he took the top job two-and-a-half years ago, when Boeing was reeling from the grounding of its 737 Max following two crashes. "We all have to put two-and-a-half years in perspective, and what we've done as a leadership team to get ahead of each and every one of our big issues and no they are not complete," Calhoun said in an interview. But a series of production delays and challenges have brought Boeing's shares down 30 per cent this year compared with an 11 per cent decline in those of its arch rival Airbus. Deliveries of its wide-body 787 Dreamliner remain on hold following quality control issues while there are questions over the approval of its 737 Max 10 jet by the US Federal Aviation Administration (FAA). Stabilising the production of the 737 Max jet is another key challenge. Yet speaking to the Financial Times in London on the eve of the biennial Farnborough Air Show, the 65-year-old Calhoun struck a bullish tone about Boeing's prospects. Reflecting on his tenure since he took over in January 2020, Calhoun said "I'm actually feeling pretty good about the moment". "The most difficult of our crises is being managed effectively. It's not done and that's the Max. But we're still returning aeroplanes to service for our customers." Demand from airlines for new planes, he added, had rebounded strongly following a pandemic that plunged the aviation industry into its biggest crisis in decades. "We're in full recovery mode on demand," he said. Calhoun was "comfortable" that regulatory approvals to allow the resumption of deliveries of the 787 would happen, but declined to offer a specific timeline. Regarding the 737 Max, the company was focused on ensuring it could reliably produce 31 planes a month. Delays in the delivery of the 737 Max have drawn direct criticism of Boeing's leadership from some of its biggest customers, including Michael O'Leary, the chief executive of low-cost carrier Ryanair. Calhoun said he took O'Leary's comments "very seriously, because if we deliver a new aeroplane even a day late, that affects his business". He stressed, however, that his team was focused on a consistent production rate, adding: "My team is wrestling with this every day. I love them and I know we will get there." Nevertheless, supply chain constraints continue to disrupt the industry. Stan Deal, who is head of commercial aeroplanes at Boeing, highlighted engine delays and shortages of semiconductors and other parts, as a key issue. Calhoun also sought to address concerns over the group's engineering culture, saying that he had shaken up the group's management structures and put people closer to the operational centres. One of his first acts when he took over was to ask Greg Hyslop, Boeing's chief engineer, to leave his Chicago office and move to Seattle, the company's main commercial aircraft manufacturing base. "My emphasis is distributed management, leadership close to the action," said Calhoun. Hyslop told the FT that "I don't believe we've ever had a cultural issue around engineering at the Boeing Company. I do believe there were changes needed, [to] strengthen engineering, and provide more of a degree of independence for engineering". One of the strategic conundrums facing Boeing is how to close the gap with Airbus, which has extended its lead in the lucrative market for single-aisle aircraft that serve short and medium-haul destinations. The European aerospace group, which has an almost 60 per cent market share, recently secured a $37bn order from Chinese state airlines. "I'm in 40 per cent [of the market]," said Calhoun. "And if the marketplace saw me delivering stably at 40 per cent they would be head over heels ecstatic. I think I'll be better than 40 per cent if I can get back on an equal footing in China." Analysts have said Boeing needs to launch a new plane to take on Airbus' best-selling A321neo, with some suggesting it will need to raise equity to do so given its $45bn of net debt. Calhoun played down that any launch was imminent, saying that advances in engine technology did not yet make it worthwhile. "The question about when you introduce a new commercial aeroplane . . . has to do with the technology readiness with respect to the propulsion packages . . . and whether they're going to create a big enough difference for the marketplace to then go out and place orders and I don't think we're at that threshold." When the time is right Boeing could launch a new plane without raising new equity, according to Calhoun, as the company's engineers are already building the digital infrastructure to enable the next plane, which will reduce the development time. "It's important that those [technologies] be proven and available, the biggest one being the digital model, the digital twin for that development. And that is in full force," he said. By the time Boeing needed to spend money, Calhoun added, the "cash flow numbers will be significantly different and in my view, more than that". "I believe it will be the ability to run a digital twin on a new commercial aeroplane that will enable us to reduce development time, strengthen product and factory safety and improve financial outcomes," he said. Source: Financial Times Aug 08, 2022: Boeing gets FAA clearance to restart delivery of 787 Dreamliner aircraft Boeing Co. received preliminary US regulatory clearance to restart deliveries of its 787 Dreamliner aircraft, paving the way for the end to a drought that drained cash and dented the planemaker's reputation for quality. The Federal Aviation Administration approved Boeing's plans to inspect and repair tiny manufacturing flaws in the Dreamliner's carbon-composite frame, two people familiar with the plan said late Friday. The jet manufacturer had largely halted deliveries since late 2020 as its engineers found improperly filled gaps in about 20 locations. The FAA agreement is a milestone for the company, but it won't immediately resume sales. Boeing must still make required fixes and get FAA inspectors to approve each aircraft, the people said, asking not to be identified as the information hasn't been publicly announced. While timing of delivery resumptions remains unclear, the company is aiming to begin in the week of Aug. 8, one of the people said. A total of 120 of the jets, which retail for as "We will continue to work transparently with the FAA and our customers towards resuming 787 deliveries," Boeing said in an e-mailed statement. The resumption of shipments will mark a financial turnaround for Boeing after years of operational lapses that have frustrated customers, suppliers and investors. It's also a potential catalyst for Boeing shares, since the Arlington, Virginia-based company will start to unlock nearly $10 billion in cash tied up in Dreamliners stashed around its factories and in desert storage, according to Rob Spingarn, an analyst with Melius Research. Source: Business Standard Aug 08, 2022: Q3 2022 Earnings Estimate for The Boeing Company (NYSE: BA) Issued By Jefferies Financial Group The Boeing Company (NYSE:BA - Get Rating) - Equities research analysts at Jefferies Financial Group dropped their Q3 2022 earnings per share estimates for shares of Boeing in a research note issued on Sunday, July 31st. Jefferies Financial Group analyst S. Kahyaoglu now forecasts that the aircraft producer will post earnings of $0.40 per share for the quarter, down from their previous forecast of $0.55. Jefferies Financial Group has a "Buy" rating and a $225.00 price objective on the stock. The consensus estimate for Boeing's current full-year earnings is ($1.75) per share. Jefferies Financial Group also issued estimates for Boeing's Q4 2022 earnings at $0.97 EPS and FY2022 earnings at ($1.75) EPS. Get Boeing alerts: A number of other brokerages also recently weighed in on BA. Sanford C. Bernstein lowered their price target on Boeing from $239.00 to $216.00 in a report on Thursday, April 28th. Citigroup upgraded Boeing from a "neutral" rating to a "buy" rating and lowered their price target for the company from $219.00 to $209.00 in a report on Thursday, June 16th. Robert W. Baird reiterated an "outperform" rating and issued a $245.00 price target on shares of Boeing in a report on Thursday, July 7th. Benchmark lowered their price target on Boeing from $250.00 to $200.00 and set a "buy" rating for the company in a report on Friday, July 15th. Finally, The Goldman Sachs Group set a $281.00 price objective on Boeing in a research note on Monday. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Boeing currently has an average rating of "Moderate Buy" and an average price target of $219.56. Boeing Trading Up 2.1 % Shares of NYSE BA opened at $166.64 on Wednesday. Boeing has a twelve month low of $113.02 and a twelve month high of $241.15. The company has a market capitalization of $98.95 billion, a price-to-earnings ratio of -18.62 and a beta of 1.38. The business has a 50 day simple moving average of $142.37 and a 200-day simple moving average of $167.63. Boeing (NYSE:BA - Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The aircraft producer reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.23). The business had revenue of $16.68 billion during the quarter, compared to the consensus estimate of $17.53 billion. During the same quarter in the previous year, the company earned $0.40 EPS. The firm's revenue was down 1.9% compared to the same quarter last year. Institutional Inflows and Outflows A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Boeing by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 43,355,912 shares of the aircraft producer's stock worth $8,302,657,000 after acquiring an additional 276,392 shares during the period. BlackRock Inc. lifted its holdings in shares of Boeing by 2.9% in the first quarter. BlackRock Inc. now owns 31,674,287 shares of the aircraft producer's stock valued at $6,065,627,000 after buying an additional 887,382 shares during the period. Loomis Sayles & Co. L P lifted its holdings in shares of Boeing by 19.8% in the fourth quarter. Loomis Sayles & Co. L P now owns 13,367,929 shares of the aircraft producer's stock valued at $2,691,231,000 after buying an additional 2,210,908 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Boeing by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 8,616,520 shares of the aircraft producer's stock valued at $1,729,452,000 after buying an additional 207,904 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Boeing by 4.0% in the fourth quarter. Northern Trust Corp now owns 5,013,641 shares of the aircraft producer's stock valued at $1,009,346,000 after buying an additional 193,777 shares during the period. Institutional investors and hedge funds own 53.96% of the company's stock. Source: Defense World Aug 08, 2022: Boeing defense CEO says company remains a player in fighter jet market Although it has been years since Boeing was selected to create an entirely new fighter jet for the Air Force, the head of the company's defense unit said the company shouldn't be underestimated. "Fighters are an important business to the Boeing Company," Ted Colbert, chief executive officer of Boeing Defense, Space and Security, told reporters during a roundtable discussion in London July 17. "We haven't given up the fight in that space. We are continuing to invest in it." The only new fighters Boeing is now producing for the Air Force are the F-15EX, an upgraded and modernized version of the fourth-generation F-15E. The first models of F-15s began flying in the mid-1970s. Boeing is also working on the Air Force's new trainer, the T-7A Red Hawk, and us delivering KC-46A Pegasus tankers to the Air Force. It also makes the Navy's F/A-18 Super Hornet fighter, among other aircraft. The Air Force's most recent fighter, the F-35, is primarily built by Lockheed Martin. Northrop Grumman is building the Air Force's next bomber, the B-21 Raider. The Air Force is working on a new highly-classified, sixth-generation system called Next Generation Air Dominance, about which few details - including which companies could build it - are publicly known. Kendall said in June NGAD has entered its engineering and manufacturing development phase. Colbert would not comment on whether Boeing is active in any classified fighter-related programs. He said Boeing's Phantom Works organization is working on the future of fighters, including investing in facilities, people, technology and techniques such as model-based engineering. Breaking Defense reported on July 15 that Steve Parker, vice president and general manager of bombers and fighters for Boeing's defense unit, said at the Royal International Air Tattoo in England the contract for the next two lots of F-15EXs would likely meet, or even come in below, the expected $80 million price, despite ongoing problems with supply chains and inflation that have recently driven up prices in the defense industry. Asked whether prices could similarly stay steady for other Boeing programs, Colbert said wage escalation, supply chain issues and other challenges are pressuring companies across the defense industry. And, he said, Boeing needs to keep lines of communication open with the military so it knows how the company is being affected by these issues. "My intent right now is to work with our government customers, have a discussion around the realities of the environment we're in," Colbert said. "And when that changes, it changes and we go through a process to do that. And we've got to set ourselves up for the ability to get the work done and invest in the future." Source: Defense News Aug 08, 2022: Russell Investments Group Ltd. Acquires 1,035 Shares of The Boeing Company (NYSE: BA) Russell Investments Group Ltd. grew its holdings in shares of The Boeing Company (NYSE:BA - Get Rating) by 1.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 72,201 shares of the aircraft producer's stock after buying an additional 1,035 shares during the period. Russell Investments Group Ltd.'s holdings in Boeing were worth $13,849,000 as of its most recent SEC filing. A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. CKW Financial Group grew its position in Boeing by 25.0% during the fourth quarter. CKW Financial Group now owns 250 shares of the aircraft producer's stock valued at $50,000 after buying an additional 50 shares during the period. Trust Investment Advisors grew its position in Boeing by 1.7% during the fourth quarter. Trust Investment Advisors now owns 3,132 shares of the aircraft producer's stock valued at $631,000 after buying an additional 52 shares during the period. Mengis Capital Management Inc. grew its position in Boeing by 1.6% during the fourth quarter. Mengis Capital Management Inc. now owns 3,483 shares of the aircraft producer's stock valued at $701,000 after buying an additional 55 shares during the period. Meridian Wealth Partners LLC grew its position in Boeing by 4.4% during the fourth quarter. Meridian Wealth Partners LLC now owns 1,308 shares of the aircraft producer's stock valued at $263,000 after buying an additional 55 shares during the period. Finally, Lindbrook Capital LLC grew its position in Boeing by 0.5% during the first quarter. Lindbrook Capital LLC now owns 11,361 shares of the aircraft producer's stock valued at $2,176,000 after buying an additional 56 shares during the period. Institutional investors own 53.96% of the company's stock. Get Boeing alerts: Analysts Set New Price Targets Several analysts recently commented on the stock. Jefferies Financial Group dropped their price target on shares of Boeing from $270.00 to $225.00 and set a "buy" rating on the stock in a research report on Monday, May 2nd. The Goldman Sachs Group set a $281.00 price objective on shares of Boeing in a report on Monday. Royal Bank of Canada set a $200.00 price objective on shares of Boeing in a report on Monday. Wells Fargo & Company decreased their price objective on shares of Boeing from $214.00 to $210.00 and set an "overweight" rating on the stock in a report on Thursday, July 28th. Finally, UBS Group set a $263.00 price objective on shares of Boeing and gave the company a "buy" rating in a report on Thursday, April 28th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $219.56. Boeing Stock Down 0.1 % Shares of BA stock opened at $166.50 on Friday. The firm's 50-day moving average is $143.15 and its two-hundred day moving average is $167.22. The Boeing Company has a 12 month low of $113.02 and a 12 month high of $241.15. Boeing (NYSE:BA - Get Rating) last issued its earnings results on Wednesday, July 27th. The aircraft producer reported ($0.37) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.23). The business had revenue of $16.68 billion for the quarter, compared to the consensus estimate of $17.53 billion. During the same quarter in the previous year, the business earned $0.40 earnings per share. Boeing's revenue for the quarter was down 1.9% compared to the same quarter last year. As a group, equities analysts predict that The Boeing Company will post -1.69 EPS for the current fiscal year. Boeing Company Profile (Get Rating) The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital. Source: Defense World Aug 08, 2022: The Boeing Company (BA) Q2 2022 Earnings Call Transcript Operator Thank you for standing by. Good day, everyone, and welcome to The Boeing Company's Second Quarter 2022 Earnings Conference Call. Today's call is being recorded. The management discussion and slide presentation plus the analyst question-and-answer session are being broadcast live over the Internet. [Operator Instructions] At this time, for opening remarks and introductions, I'm turning the call over to Mr. Matt Welch, Vice President of Investor Relations for The Boeing Company. Mr. Welch, please go ahead. Matt Welch - Vice President of Investor Relations Thank you, John, and good morning, everyone. Welcome to Boeing's Second Quarter 2022 Earnings Call. I am Matt Welch, and with me is Dave Calhoun, Boeing's President and Chief Executive Officer; and Brian West, Boeing's Executive Vice President and Chief Financial Officer. And as a reminder, you can follow today's broadcast and slide presentation through our website at boeing.com. As always, we have provided detailed financial information in our press release issued earlier today. Projections, estimates and goals we include in our discussions this morning involve risks, including those described in our SEC filings and in the forward-looking statement disclaimer at the end of this web presentation. In addition, we refer you to our earnings release and presentation. [Technical Issues] Operator And this is John with AT&T, please continue. David L. Calhoun - President and Chief Executive Officer Start over? Okay. Sorry, we were muted. It's good to be with all of you. Thanks, Matt, for the intro. I want to start my brief comments upfront with just a revisit at the Farnborough Air Show a little over a week ago. It was important for us. It was an emotional outcoming for our company and our people. We always look a little better when we are standing next to our products and the flight teams who are operating them. It was great to see, and I think everyone witnessed the 777 times in flight, which was more than magnificent, the Dash 10 also in flight and our investment in Wisk and its product in the important eVTOL market. We met with our customers, we met with suppliers, partners, the usual, except it didn't feel like the usual because it had been a while. We're proud of the orders that we collected over the course of that week, over 200 orders and commitments. And importantly, it covered the whole line, the 737 MAX, our 87 and the 777 times. And it shows the extent to which our airlines are already - our airline customers are already anticipating fleet renewal projects and their willingness to bet forward on that prospect. Needless to say, they're all as busy as they can be trying to get their own fleets up and running and the supply constraints they face dealt with. Looking at the quarter, a lot of things good happened over the quarter. We are on the verge of returning to the 87 delivery process. I won't give a date. I never have. That's up to the FAA. But we've been working closely with our customers and the regulator on those final steps. We're proud of our team. We're proud for the discipline and the detailed work they applied over this long course. And it will be worth it. In the end, we'll have a predictable and high-quality line, and our customers will be pleased with the products. And a reminder to everyone that this 87 fleet that's out there has been working harder than it's ever worked. And it's been performing incredibly well. Turning to the MAX. Again, one airplane at a time, the fleet is performing incredibly well, oftentimes exceeding the specification and expectations our customers had when they originally placed their orders. And we continue to work hard on predictability of the delivery chain. And we're focused mostly on the engine supply lines and then those second-tier constraints that those engine suppliers are facing. And I think we've made an awful lot of progress on that front. Brian will give you sort of our best guess on how this year turns out with respect to those deliveries. But it is - it's now, I think, based on a far better knowledge of what those supply constraints are and commitments from our supply side engine suppliers. In BDS, I don't want to skip over the Starliner. It was important. It was an emotional up for all of us at Boeing to get back on track. We had a wet dress for the space launch system rocket, the biggest rocket yet. We're looking forward to that launch. So we had a good sort of engineering coming out with respect to those achievements. And yes, we're still working through some of the challenging macro environment issues, especially with respect to our fixed price development contracts. And Brian will also walk you through that. And then finally, on the services side, like pretty much everyone that's been reporting, it is coming back, and it's coming back in a rapid way. Our commercial service business was up 30%. It carries strong margins with it. And so it's a big and important contributor to our overall cash flow story. And again, the result of all of this work, a big step forward with respect to stability. We did debt to cash flow - operating cash flow positive. So that puts us a little bit ahead of our internal plan, and we feel good about that. And we are still committed to be cash flow positive for the calendar year 2022. It's underpinned by a very strong commercial market. I think you all know that. Everyone has spoken to it. A lot of supply constraints out there with respect to the operators of our airplanes, the airlines and what they've got to do to get the fleets running efficiently and build their capacity where it needs to be. But they are out there in the market trying to rebuild their fleets for the future and to meet that significant demand. And so far, we have not seen any drawback on that demand. While we understand the sort of recession fears that are growing out there, so far, it has not impacted the aviation industry or our customers. So mostly what we're focused on, and I don't think it will surprise anyone, and I think I've heard it in most of my peers' reports is the supply chain, stabilizing it, making sure that it's predictable and consistent. And for us, in particular, with respect to the commercial side of our business, it relates to engine production, engine availability so that we can predictably deliver airplanes to our customers. We think we've made an awful lot of progress on that front. I know you've heard directly from the engine suppliers. They are making progress, and we've adjusted all of our delivery rate expectations at least in the near term to satisfy those constraints. A comment quickly on regulatory and geopolitical. I'll start with geopolitical, China. The good news is that because of the strong demand in the marketplace, we've been able to manage our risk going forward with respect to the airplanes that we have built and are awaiting delivery. We intend to stand by our Chinese airlines, stand by the CAAC and get those airplanes back. But the timing, which has been pushed and deferred in light of some of the COVID management issues in China and some of that geopolitical overhang, we can suffer our way through that and will. And it should not impact the cash flow positive posture that we've taken for the year. So it's a little easier to manage for us. It's no less important, and we will continue to encourage our administration to work as closely as they can with the Chinese to reopen the trade card or with respect to aviation, a relationship we've enjoyed for over 50 years. And we'll continue to support our customers. Medium and long term, it does represent the difference between commercial aerospace leadership or not, given the size and scale of the China market. And then on the regulatory front, we are working constructively with the FAA. We have our heads down. We're working towards certification by year-end on the Dash seven and the Dash 10. And we believe what we're working on is, in fact, the safe option with respect to all options in the narrow-body space. And so we're going to just keep plugging away. And anyway, that's enough said. As we navigate through this environment, stability is the watch word for all of us. We want to be predictable. We think that will differentiate us. And that's why we've got - we're focused on it. We continue to increase our investment in research programs, the readiness program with respect to the next big commercial airplane, all the digital modeling tools that are required to be ready for that, we continue to invest aggressively in. And we continue to enhance those underlying digital technologies that we will bring ultimately to the services market as well. Safety, quality, transparency, these are values, and this is what we remain focused on. So before I turn it over to Brian, the MAX, it's on track. And it's performing for customers, in many cases, exceeding expectations. We think we're through the most difficult parts of COVID-19. Starliner, a pivotal and emotional test for The Boeing Company, and we feel good about it, and we're ready for the crewed flight. Global Services, on its way back in a big way. We feel terrific about their progress. And now we are at the detailed moment to get ready for 787 deliveries, the moment we've been waiting for. And we look and feel as though we're on the verge of doing so. So we've taken a long view. We continue to take a long view. And we do believe we're in the middle of a turnaround, and it's beginning to show itself. Source: AlphaStreet Aug 05, 2022: Russell Investments Group Ltd. Acquires 1,035 Shares of The Boeing Company (NYSE: BA) Russell Investments Group Ltd. grew its holdings in shares of The Boeing Company (NYSE:BA - Get Rating) by 1.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 72,201 shares of the aircraft producer's stock after buying an additional 1,035 shares during the period. Russell Investments Group Ltd.'s holdings in Boeing were worth $13,849,000 as of its most recent SEC filing. A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. CKW Financial Group grew its position in Boeing by 25.0% during the fourth quarter. CKW Financial Group now owns 250 shares of the aircraft producer's stock valued at $50,000 after buying an additional 50 shares during the period. Trust Investment Advisors grew its position in Boeing by 1.7% during the fourth quarter. Trust Investment Advisors now owns 3,132 shares of the aircraft producer's stock valued at $631,000 after buying an additional 52 shares during the period. Mengis Capital Management Inc. grew its position in Boeing by 1.6% during the fourth quarter. Mengis Capital Management Inc. now owns 3,483 shares of the aircraft producer's stock valued at $701,000 after buying an additional 55 shares during the period. Meridian Wealth Partners LLC grew its position in Boeing by 4.4% during the fourth quarter. Meridian Wealth Partners LLC now owns 1,308 shares of the aircraft producer's stock valued at $263,000 after buying an additional 55 shares during the period. Finally, Lindbrook Capital LLC grew its position in Boeing by 0.5% during the first quarter. Lindbrook Capital LLC now owns 11,361 shares of the aircraft producer's stock valued at $2,176,000 after buying an additional 56 shares during the period. Institutional investors own 53.96% of the company's stock. Get Boeing alerts: Analysts Set New Price Targets Several analysts recently commented on the stock. Jefferies Financial Group dropped their price target on shares of Boeing from $270.00 to $225.00 and set a "buy" rating on the stock in a research report on Monday, May 2nd. The Goldman Sachs Group set a $281.00 price objective on shares of Boeing in a report on Monday. Royal Bank of Canada set a $200.00 price objective on shares of Boeing in a report on Monday. Wells Fargo & Company decreased their price objective on shares of Boeing from $214.00 to $210.00 and set an "overweight" rating on the stock in a report on Thursday, July 28th. Finally, UBS Group set a $263.00 price objective on shares of Boeing and gave the company a "buy" rating in a report on Thursday, April 28th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $219.56. Source: Defense World Aug 05, 2022: Seventh Circuit affirms dismissal of ERISA stock-drop case Since the Supreme Court's ruling in Fifth Third Bancorp v. Dudenhoeffer, courts around the country have overwhelmingly rejected ERISA fiduciary-breach claims by 401(k) plan participants seeking relief related to investments in company stock funds. The Seventh Circuit recently continued that trend by affirming the dismissal of claims brought by participants in the Boeing 401(k) plan, but did so on grounds that (i) the fiduciary responsibilities associated with the company stock fund had been delegated to an independent fiduciary, and (ii) the insider fiduciaries had no duty to disclose corporate inside information to the plan participants or the independent fiduciary. Burke v. The Boeing Co., No. 20-3389 (7th Cir. Aug. 1, 2022). As discussed below, the Seventh Circuit's opinion provides helpful guidance to plan sponsors and fiduciaries that go beyond the specific circumstances presented in the case. Background Among the menu of investment options in the Boeing 401(k) plan was a Boeing stock fund in which plan participants could invest in Boeing stock. Unlike other investments in the plan, which were selected and monitored by a plan committee comprised of Boeing insiders, responsibility for management and oversight of the Boeing stock fund was delegated to an independent fiduciary. In the aftermath of the widely-publicized issues concerning the Boeing 737 MAX, several Boeing 401(k) plan participants commenced suit against Boeing, the 401(k) plan and investment committees and several Boeing insiders, alleging that the participants' investments in the Boeing stock fund declined because the defendants failed to timely disclose material information about those issues. The participants asserted claims for breach of the duties of prudence and loyalty, failure to monitor investments, and co-fiduciary liability. The Seventh Circuit's Opinion As a preliminary matter, the Seventh Circuit observed that the Supreme Court in Dudenhoeffer had adopted a "demanding pleading standard" for breach of the duty of prudence claims involving investments in company stock funds, and agreed with an earlier Eighth Circuit opinion that held that plaintiffs "cannot use the duty of loyalty 'to circumvent the demanding Dudenhoeffer standard' for duty of prudence claims." Before applying these fiduciary principles to the circumstances presented in this case, however, the Court determined that it must first address the threshold issue of whether any defendant was in fact acting as a fiduciary with respect to the Boeing stock fund. The Court concluded that, under the plan documents, neither the individual defendants, the Boeing plan committees, nor Boeing had fiduciary responsibilities for managing this fund. In so ruling, the Court noted that responsibility for selecting and monitoring the investments in the Boeing stock fund had been delegated to an independent fiduciary in order to remove the risk of claims against insider-fiduciaries for being in possession of corporate inside information while serving as ERISA plan fiduciaries. The Court determined that there was no "legal barrier" that prevented Boeing from implementing such a delegation, and decades of ERISA stock-drop litigation provided "powerful reasons" for plan sponsors and fiduciaries to take this step. Having disposed of the plaintiffs' claims that the defendants were fiduciaries responsible for the Boeing stock fund, the Court then rejected the plaintiffs' argument that ERISA's duty of loyalty included a non-delegable duty to disclose non-public information to plan participants, which would require full public disclosure to all shareholders and potential investors. The Court explained, as it had previously held over a decade ago, that a violation of ERISA's disclosure requirement "requires evidence of either an intentionally misleading statement, or a material omission where the fiduciary's silence can be construed as misleading." Furthermore, it stated, plan fiduciaries are not required to provide all information about the defendant corporation's business decisions in real time to plan participants. The Court similarly concluded that the duty to monitor appointees does not include a duty to keep appointees apprised of material, non-public information regarding the prudence of a plan investment. Proskauer's Perspective While the Seventh Circuit's decision did not break any new ground on the applicable legal standards, it provides some measure of comfort for plan sponsors and fiduciaries insofar as it reaffirmed some of the important principles that have protected them from liability-both with respect to the Supreme Court's "demanding pleading standard," and with respect to the ability of plan fiduciaries to limit or eliminate exposure to claims based on inside information by delegating responsibility to independent third parties. On the whole, the decision takes a refreshing practical approach to the challenges confronted by plan fiduciaries. And, through its endorsement of the principle that full responsibility for a stock fund can be delegated to an independent fiduciary, the decision provides an opportunity for plan sponsors and fiduciaries to obtain an additional measure of protection from legal exposure, beyond the protections already afforded by the Dudenhoeffer pleading standard. Source: Lexology Aug 05, 2022: Teeing Up Technology to Keep the Boeing Classic Connected On August 8, the PGA Tour Champions event returns to Snoqualmie, Washington. More than 80 players will compete for more than $2.1 million in the 54-hole event during seven days at the Boeing Classic. From the Seahawks Rumble at the Ridge and Korean Air Pro-Am to the Boeing Classic competition and Jet Flyover, this unique sporting event is back in Washington and is sure to have golf fans - both at the venues and at home - on the edge of their seats. However, long before thousands of fans and athletes descend on The Club at Snoqualmie Ridge, Comcast technicians have been working to deliver world-class connectivity. The technology infrastructure the technicians assemble and maintain will ensure attendees can share their favorite selfie, vendors can use their sales systems, stage crew can keep the entertainment going and athletes can connect with their families back home and all those onsite - can reliably communicate with free WiFi. The Network Built for Fans Enhanced connectivity at Snoqualmie Ridge is the latest example of the company's network investment in the state. During the past three years, Comcast has invested $1B in technology and infrastructure in Washington, including expansion and upgrades to our network. Comcast technicians will be installing more than 100 cable boxes and modems for vendors and attendees so they can have access to WiFi to watch the action on the course when inside. Technicians also utilize more than 4,000 feet of heavy-duty cable, which they place all around the course and facility. Because of this, attendees will have unprecedented performance in the high-traffic centers. Plus, we also operate public Xfinity Wi-Fi hotspots that are available to Comcast customers in Snoqualmie to provide extra coverage to fans. "Comcast has been a longtime supplier and partner of the Boeing Classic. We appreciate the amount of time and effort they put into their work to ensure the tournament is supported and operates seamlessly," said Ryan Ingalls, Tournament Director "We are proud of our continued investments in Washington, especially as we welcome athletes and fans to Snoqualmie," said Rodrigo Lopez, Region Senior Vice President, Comcast Washington. "Our network installation will provide high-speed and reliable connectivity for our customers during the tournament." Source: GeekWire Aug 04, 2022: Jefferies Financial Group Research Analysts Lower Earnings Estimates for The Boeing Company (NYSE: BA) The Boeing Company (NYSE:BA - Get Rating) - Jefferies Financial Group dropped their Q3 2022 earnings per share estimates for shares of Boeing in a note issued to investors on Sunday, July 31st. Jefferies Financial Group analyst S. Kahyaoglu now anticipates that the aircraft producer will post earnings of $0.40 per share for the quarter, down from their prior estimate of $0.55. Jefferies Financial Group has a "Buy" rating and a $225.00 price target on the stock. The consensus estimate for Boeing's current full-year earnings is ($1.75) per share. Jefferies Financial Group also issued estimates for Boeing's Q4 2022 earnings at $0.97 EPS and FY2022 earnings at ($1.75) EPS. Boeing (NYSE:BA - Get Rating) last issued its earnings results on Wednesday, July 27th. The aircraft producer reported ($0.37) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.23). The business had revenue of $16.68 billion for the quarter, compared to analyst estimates of $17.53 billion. During the same quarter last year, the firm earned $0.40 earnings per share. Boeing's revenue for the quarter was down 1.9% on a year-over-year basis. Source: MarketBeat Aug 04, 2022: Boeing and USAF Mark More than 75 Years of Innovation, Collaboration For more than 75 years the U.S. Air Force and Boeing have shared an intertwined history of supporting the highest priority national defense missions. Today, Boeing leads industry investment in pioneering next-generation technology and innovation as the company looks to the future to provide the most digitally advanced, simply and efficiently produced, and intelligently supported solutions to the U.S. Air Force. Boeing's industry partnership with the U.S. Air Force dates back to the earliest days of aviation, and continues today in the form of some of the most sophisticated and formidable flying machines on the planet. With an eye toward the future, Boeing continues to develop the cutting-edge capabilities the Air Force needs to maintain its strategic advantage across space and air domains. To illustrate the depth and breadth of this key national security relationship, we'll take a look back in time; explore current programs; and look ahead to what the future may hold. Innovating from the Start Boeing's ties to the Air Force began in the wake of World War I and the design in 1919 of the GA-1 attack plane, an armored triplane powered by a pair of modified Liberty engines driving pusher propellers. "Our history has been intertwined with the Air Force, and it's been a remarkable story," said Steve Parker, vice president and general manager for Bombers & Fighters at Boeing Defense, Space & Security. Lethality and survivability have been the watchwords for both since those earliest days. From the start, "the relationship was built on a foundation of trust," Parker said. Airmen were climbing into dangerous, experimental machines. Flight was a high-risk endeavor. Trust was essential. "We've always focused on making sure we are able to provide solutions that meet the Air Force's needs for mission effectiveness," Parker said. Boeing has long looked to Air Force veterans for their expertise, and today, more than 15 percent of its workforce are veterans, many of them Air Force vets. The mutual experience ensures Boeing's workforce understands inherently who their customers really are and what is at stake each time an airplane rolls out for a mission. Over the years, Air Force and Boeing programs have also been recognized by the whole of the aerospace industry. Boeing-Air Force partnered programs yielded nine Collier Trophies to date, an award that recognizes the greatest achievement in aeronautics and astronautics for the given year from the National Aeronautic Association, Parker noted. "That's proof of our shared partnership doing revolutionary things together," he said. Building the Future Today, Boeing's Air Force program portfolio bulges with new developments: The KC-46 tanker and E-7, a replacement for the E-3 AWACS, are both derived from Boeing commercial aircraft and host the newest technologies in refueling and reconnaissance. The KC-46A Pegasus tanker is a powerful example of the advanced capabilities that Boeing is delivering to the Air Force. With tactical situational awareness and secure datalinks, the KC-46A delivers data as well as fuel to give the 21st century warfighter an information advantage. The next-generation T-7A advanced trainer was the first Air Force jet designed digitally from the ground up and will serve USAF pilots for generations to come. Boeing is also reinventing venerable airframes like the B-52 and F-15. As the lead systems integrator for the B-52, it is responsible for integrating new engines into the ageless bombers, which first rolled off Boeing assembly lines more than half a century ago. Engineering the BUFF to keep flying for another 30 years or more, Boeing's overall integration program also encompasses a major avionics upgrade. Boeing is similarly raising the bar for its F-15EX fighter, the Air Force's newest combat aircraft. The EX is, in effect, a digitally remastered, 21st century variant of the Air Force stalwart air superiority machine, now featuring combat aviation's most powerful digital processor, an all-glass cockpit, open mission systems, and best-in-class payload, range, and speed, as well as the advanced capabilities of the Eagle Passive Active Warning Survivability System (EPAWSS), which integrates radar warning, geolocation, situational awareness, and self-protection to detect and defeat surface and airborne threats. "With investments in open-mission systems architecture, digital engineering and agile software, we are supporting SECAF's Operational Imperatives to bring leading-edge capabilities to future fighters and bombers," Parker said. Looking to the future, Boeing is partnering with the Air Force to develop the capabilities essential to the future of air battle management, the technologies essential to taking Joint All Domain Command and Control from concept to reality. For example, the KC-46's Wing Aerial Refueling Pods are slated to be the first integration of the Air Force's Advanced Battle Management System. "Our mission is always to provide the most digitally advanced, simply- and efficiently-produced, and intelligently-supported solutions to the world's greatest air force," said Parker, whose portfolio includes the Air Force F-15, T-7A, and B-1 and B-52 bomber programs, as well as the Navy's F/A-18E/F and EA-18G Growler aircraft which is the only airborne Electronic Attack platform in the world today and is central to all U.S. combat air employment. He also oversees the 777X wing component manufacturing and assembly. All of these programs have one thing in common: advanced digital technologies that enable new, improved manufacturing techniques to make aircraft more efficient, more survivable, and at a lower cost to operate and sustain -so they can get to the fight faster and stay there longer. Those efforts extend to every part of Boeing's work for the Air Force, where Parker says, "we're reinventing many of the capabilities the Air Force uses today." For example, Boeing is applying new algorithms to make C-17 transports more fuel efficient and applying digital analytics to reduce and streamline maintenance costs. Speed is always in the discussion, Parker said. "From fighter aircraft to autonomous platforms to work we are doing in our Phantom Works, it's all about burning down risk and validating and proving out technology and capabilities more quickly and efficiently." Another part of the overarching connecting tissue that ties Boeing's Air Force portfolio together is today's focus on connectivity and the emergence of a shared battlespace that can be better managed and assessed through the use of open mission systems and agile software techniques. "To deter the evolving threat, data must be distributed across all the Air Force's systems," Parker said. "Data will have to be managed securely and delivered in real time to deliver a collective effect across the DOD's battlespace. We are working to connect manned and unmanned platforms and sensors together, to provide an overwhelming capability." To that end, "we're focused on connecting everything-Boeing products and non-Boeing products-to provide the disruptive advantage in any location around the world," he said. "It's a means of expanding the force capabilities exponentially." Boeing's strong collaborative relationship with Air Force stakeholders helps keep all parties on the same page. "Everything is totally transparent from a data perspective: status, opportunities, risks, issues," Parker said. "We manage them collectively-together." Parker says that kind of mutual trust and transparency has helped the rapid development of the T-7A, it's not that every step in the development has been perfect, he said. "You're always going to discover things along the way- and when we do, we fix them together," Parker said. "That's how we have been able to redefine how a clean sheet aircraft can go from concept to first flight in just 36 months and move straight into developmental test and evaluation -something that was previously unheard of." Source: Air Force Magazine Aug 04, 2022: Spirit AeroSystems Reports Second Quarter 2022 Results Spirit AeroSystems Holdings, Inc. (NYSE: SPR) ("Spirit" or the "Company") reported second quarter 2022 financial results. "We remain focused on executing in our factories and meeting the commitments to our customers. Demand for aircraft remains robust but the expected slower increase in production rates should give us more time to stabilize the production system." Tweet this Table 1. Summary Financial Results (unaudited) 2nd Quarter Six Months ($ in millions, except per share data) 2022 2021 Change 2022 2021 Change Revenues $1,258 $1,002 26% $2,433 $1,903 28% Operating Loss ($105) ($98) (7%) ($147) ($224) 34% Operating Loss as a % of Revenues (8.3%) (9.7%) 140 BPS (6.0%) (11.8%) 580 BPS Net Loss ($122) ($135) 10% ($175) ($307) 43% Net Loss as a % of Revenues (9.7%) (13.5%) 380 BPS (7.2%) (16.1%) 890 BPS Loss Per Share (Fully Diluted) ($1.17) ($1.30) 10% ($1.67) ($2.95) 43% Adjusted Earnings (Loss) Per Share (Fully Diluted)* ($1.21) ($0.31) ** ($1.19) ($1.51) 21% Fully Diluted Weighted Avg Share Count 104.6 104.2 104.5 104.2 ** Represents an amount in excess of 100% or not meaningful. "Like many other companies, this past quarter we experienced challenges with supply chain, staffing and inflation, as well as schedule changes from our customers, all of which put pressure on profitability," said Tom Gentile, Spirit's President and Chief Executive Officer. "We remain focused on executing in our factories and meeting the commitments to our customers. Demand for aircraft remains robust but the expected slower increase in production rates should give us more time to stabilize the production system." Revenue Spirit's revenue in the second quarter of 2022 was $1.3 billion, up 26 percent from the same period of 2021. This increase was primarily due to higher production deliveries on the Boeing 737 program as well as increased Aftermarket revenue, partially offset by lower production volume on the Boeing 787 program. Overall deliveries increased to 318 shipsets during the second quarter of 2022 compared to 235 shipsets in the same period of 2021. This includes Boeing 737 deliveries of 71 shipsets compared to 35 shipsets in the same period of the prior year and Boeing 787 deliveries of 4 shipsets compared to 11 shipsets in the second quarter of 2021. Spirit's backlog at the end of the second quarter of 2022 was approximately $34 billion, with work packages on all commercial platforms in the Airbus and Boeing backlog. Earnings Operating loss for the second quarter of 2022 was $104.7 million, compared to operating loss of $97.7 million in the same period of 2021. This increase in operating loss was primarily driven by higher changes in estimates and losses related to Russia sanctions recorded during the second quarter of 2022, partially offset by higher production on the Boeing 737 program. Second quarter 2022 earnings included net forward loss charges of $63.7 million and unfavorable cumulative catch-up adjustments of $8.0 million. The forward losses relate primarily to the Boeing 787 and Airbus A220 programs. The forward loss on the Boeing 787 program is driven by the impact of production rate decreases and increased supply chain and other costs. The Airbus A220 program forward loss is associated with the bankruptcy of a supplier and costs to relocate the work. The unfavorable cumulative catch-up adjustments were primarily driven by schedule changes, parts shortages and increased estimates for supply chain, freight and other costs on the Boeing 737 and Airbus A320 programs. In relation to the sanctioned Russian business activities, Spirit recorded losses of $41.9 million as well as the reversal of a previously booked forward loss reserve of $13.8 million. Excess capacity costs recorded during the second quarter of 2022 were $44.9 million. In comparison, during the second quarter of 2021, Spirit recorded $52.2 million of net forward loss charges, favorable cumulative catch-up adjustments of $9.9 million, and excess capacity costs of $47.5 million. Other income for the second quarter of 2022 was $34.6 million, compared to $31.1 million for the same period of 2021. The increase was primarily due to a gain of $20.7 million related to the settlement of the repayable investment agreement with the U.K. Department of Business, Energy and Industrial Strategy and higher foreign currency gains, partially offset by lower pension income, higher excise tax and losses on foreign currency forward contracts recognized during the second quarter of 2022. Second quarter 2022 EPS was $(1.17), compared to $(1.30) in the same period of 2021. Second quarter 2022 adjusted EPS* was $(1.21), excluding the incremental deferred tax asset valuation allowance, settlement gain and losses related to Russia sanctions. During the same period of 2021, adjusted EPS* was $(0.31), which excluded restructuring costs and the incremental deferred tax asset valuation allowance. The decrease in adjusted EPS was primarily due to a discrete tax benefit in the second quarter of 2021 related to the change in U.K. corporate tax rates, as well as the required quarterly estimation of taxes in both years. (Table 1) Cash Cash used in operations in the second quarter of 2022 was $62 million, compared to $28 million of cash used in operations in the same quarter last year. This larger usage was primarily due to higher working capital resulting from increased production activities, the quarterly cash repayment of $31 million related to the Boeing 737 advance received in 2019 and the interest payment associated with the settlement of the repayable investment agreement. Additionally, during the second quarter of 2022, Spirit received the remaining balance of $24 million of the Aviation Manufacturing Jobs Protection (AMJP) program grant awarded in 2021 and $27 million of pension-related cash benefits, net of excise tax. Free cash flow* in the second quarter was a usage of $79 million, as compared to a free cash flow* usage of $53 million in the same period of 2021. In April 2022, the Company settled the repayable investment agreement with the U.K. Department of Business, Energy and Industrial Strategy for a payment of $293 million. The payment is comprised of principal of $279 million and interest expense of $14 million, which are included in cash used in financing activities and cash used in operations, respectively. The cash balance at the end of the second quarter of 2022 was $770 million. (Table 2) Source: Business Wire Aug 04, 2022: Boeing's St. Louis-Area Workers Accept New Contract, Drop Strike Plan Workers at three Boeing Co. BA 2.06%▲ defense manufacturing plants on Wednesday voted in favor of a new contract, the company said, averting a potential strike. The plants produce weapons and military aircraft including the F-15 combat jet, the T-7A trainer and the MQ-25 refueling drone. Boeing Chief Executive David Calhoun said last week that delivery delays would have been likely if workers took industrial action. The vote by around 2,500 members of the International Association of Machinists and Aerospace Workers at the St. Louis-area facilities follows their rejection of an earlier proposal last month. "With the solidarity of our members we were able to secure an outstanding contract," said Tom Boelling, president of IAM District 837, which represents workers at the facilities. Newsletter Sign-up The 10-Point. A personal, guided tour to the best scoops and stories every day in The Wall Street Journal. SUBSCRIBE The union leadership had recommended members accept the revised Boeing offer. The new three-year contract offers new workers an $8,000 lump-sum payment and scraps earlier plans to cut company contributions to employees' 401(k) savings plans. Boeing said it welcomed the outcome of the vote. Source: Wall Street Journal Aug 04, 2022: Q3 2022 Earnings Estimate for The Boeing Company (NYSE: BA) Issued By Jefferies Financial Group The Boeing Company (NYSE:BA - Get Rating) - Equities research analysts at Jefferies Financial Group dropped their Q3 2022 earnings per share estimates for shares of Boeing in a research note issued on Sunday, July 31st. Jefferies Financial Group analyst S. Kahyaoglu now forecasts that the aircraft producer will post earnings of $0.40 per share for the quarter, down from their previous forecast of $0.55. Jefferies Financial Group has a "Buy" rating and a $225.00 price objective on the stock. The consensus estimate for Boeing's current full-year earnings is ($1.75) per share. Jefferies Financial Group also issued estimates for Boeing's Q4 2022 earnings at $0.97 EPS and FY2022 earnings at ($1.75) EPS. Get Boeing alerts: A number of other brokerages also recently weighed in on BA. Sanford C. Bernstein lowered their price target on Boeing from $239.00 to $216.00 in a report on Thursday, April 28th. Citigroup upgraded Boeing from a "neutral" rating to a "buy" rating and lowered their price target for the company from $219.00 to $209.00 in a report on Thursday, June 16th. Robert W. Baird reiterated an "outperform" rating and issued a $245.00 price target on shares of Boeing in a report on Thursday, July 7th. Benchmark lowered their price target on Boeing from $250.00 to $200.00 and set a "buy" rating for the company in a report on Friday, July 15th. Finally, The Goldman Sachs Group set a $281.00 price objective on Boeing in a research note on Monday. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Boeing currently has an average rating of "Moderate Buy" and an average price target of $219.56. Boeing Trading Up 2.1 % Shares of NYSE BA opened at $166.64 on Wednesday. Boeing has a twelve month low of $113.02 and a twelve month high of $241.15. The company has a market capitalization of $98.95 billion, a price-to-earnings ratio of -18.62 and a beta of 1.38. The business has a 50 day simple moving average of $142.37 and a 200-day simple moving average of $167.63. Boeing (NYSE:BA - Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The aircraft producer reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.23). The business had revenue of $16.68 billion during the quarter, compared to the consensus estimate of $17.53 billion. During the same quarter in the previous year, the company earned $0.40 EPS. The firm's revenue was down 1.9% compared to the same quarter last year. Institutional Inflows and Outflows A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Boeing by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 43,355,912 shares of the aircraft producer's stock worth $8,302,657,000 after acquiring an additional 276,392 shares during the period. BlackRock Inc. lifted its holdings in shares of Boeing by 2.9% in the first quarter. BlackRock Inc. now owns 31,674,287 shares of the aircraft producer's stock valued at $6,065,627,000 after buying an additional 887,382 shares during the period. Loomis Sayles & Co. L P lifted its holdings in shares of Boeing by 19.8% in the fourth quarter. Loomis Sayles & Co. L P now owns 13,367,929 shares of the aircraft producer's stock valued at $2,691,231,000 after buying an additional 2,210,908 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Boeing by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 8,616,520 shares of the aircraft producer's stock valued at $1,729,452,000 after buying an additional 207,904 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Boeing by 4.0% in the fourth quarter. Northern Trust Corp now owns 5,013,641 shares of the aircraft producer's stock valued at $1,009,346,000 after buying an additional 193,777 shares during the period. Institutional investors and hedge funds own 53.96% of the company's stock. Source: Defense World Aug 04, 2022: Garuda Indonesia Has Returned Its Only Boeing 737 MAX Garuda Indonesia has removed the sole Boeing 737 MAX in its fleet, returning the jet to its leasing company owner. The MAX 8 has been out of service over the past three years after it was grounded in March 2019 in the wake of two deadly MAX crashes. Garuda Indonesia returns MAX to owner Having spent the past three-and-a-half years in storage, Garuda Indonesia's only Boeing 737 MAX has officially left the airline's fleet. Garuda has returned the jet to its lessor as it makes a series of significant fleet adjustments. On July 19th, the Boeing 737 MAX 8 (registration: PK-GDA) departed its storage home at Soekarno-Hatta International Airport (CGK), Jakarta, en route to Woensdrecht Air Base near the city of Bergen op Zoom, Netherlands, stopping over at Al Ain International Airport on the way. The jet had been parked in Jakarta since March 2019 in the aftermath of the two MAX crashes involving Lion Air and Ethiopian Airlines. Despite Indonesia giving the green light to Boeing 737 MAX operations in December 2021, Garuda Indonesia never returned its sole max to service. Garuda Indonesia has an order with Boeing for 50 737 MAXs but wants to cancel after taking delivery of just one MAX, with the debt-ridden carrier unable to fulfill the $4.9 billion deal. Boeing 737 MAX 8 - PK-GDA The Boeing 737 MAX 8 is just under five years old and entered service with Garuda Indonesia in December 2017. The aircraft spent just 15 months in active service before MAX aircraft worldwide were grounded in early 2019. Source: Simple Flying Aug 04, 2022: Boeing (BA) - Analysts' Recent Ratings Updates Several analysts have recently updated their ratings and price targets for Boeing (NYSE: BA): 8/1/2022 - Boeing was given a new $200.00 price target on by analysts at Royal Bank of Canada. 8/1/2022 - Boeing was given a new $281.00 price target on by analysts at The Goldman Sachs Group, Inc. 7/29/2022 - Boeing was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating. 7/28/2022 - Boeing had its price target lowered by analysts at Wells Fargo & Company from $214.00 to $210.00. They now have an "overweight" rating on the stock. 7/28/2022 - Boeing had its price target raised by analysts at JPMorgan Chase & Co. from $188.00 to $200.00. 7/15/2022 - Boeing had its price target raised by analysts at Bank of America Co. from $150.00 to $170.00. They now have a "neutral" rating on the stock. 7/15/2022 - Boeing had its price target lowered by analysts at Benchmark Co. from $250.00 to $200.00. They now have a "buy" rating on the stock. 7/14/2022 - Boeing was given a new $200.00 price target on by analysts at Royal Bank of Canada. They now have an "outperform" rating on the stock. 7/13/2022 - Boeing had its price target lowered by analysts at JPMorgan Chase & Co. from $190.00 to $188.00. They now have an "overweight" rating on the stock. 7/13/2022 - Boeing was given a new $288.00 price target on by analysts at The Goldman Sachs Group, Inc. They now have a "buy" rating on the stock. 7/12/2022 - Boeing had its price target lowered by analysts at Royal Bank of Canada from $220.00 to $200.00. They now have an "outperform" rating on the stock. 7/7/2022 - Boeing had its "outperform" rating reaffirmed by analysts at Robert W. Baird. They now have a $245.00 price target on the stock. 6/16/2022 - Boeing was upgraded by analysts at Citigroup Inc. from a "neutral" rating to a "buy" rating. They now have a $209.00 price target on the stock, down previously from $219.00. 6/10/2022 - Boeing was given a new $220.00 price target on by analysts at Royal Bank of Canada. Boeing Trading Up 2.1 % Boeing stock opened at $166.64 on Thursday. The firm has a market capitalization of $98.95 billion, a P/E ratio of -18.62 and a beta of 1.38. The stock has a fifty day moving average price of $142.37 and a 200 day moving average price of $167.63. The Boeing Company has a 52 week low of $113.02 and a 52 week high of $241.15. Get The Boeing Company alerts: Boeing (NYSE:BA - Get Rating) last released its earnings results on Wednesday, July 27th. The aircraft producer reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.23). The company had revenue of $16.68 billion during the quarter, compared to analysts' expectations of $17.53 billion. The company's revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. As a group, equities analysts predict that The Boeing Company will post -1.75 EPS for the current year. Institutional Investors Weigh In On Boeing Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Boeing in the fourth quarter valued at about $16,701,000. CWM LLC purchased a new position in Boeing in the fourth quarter valued at about $2,806,000. Qube Research & Technologies Ltd purchased a new position in Boeing in the fourth quarter valued at about $8,799,000. Ellis Investment Partners LLC boosted its holdings in Boeing by 94.1% in the fourth quarter. Ellis Investment Partners LLC now owns 198 shares of the aircraft producer's stock valued at $40,000 after purchasing an additional 96 shares during the last quarter. Finally, FDx Advisors Inc. boosted its holdings in Boeing by 137.1% in the fourth quarter. FDx Advisors Inc. now owns 17,202 shares of the aircraft producer's stock valued at $3,463,000 after purchasing an additional 9,948 shares during the last quarter. 53.96% of the stock is currently owned by institutional investors and hedge funds. The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital. Source: Defense World Aug 03, 2022: Boeing to open Japan research center, expand focus to SAF Boeing will strengthen its partnership with Japan by opening a new Boeing Research and Technology (BR&T) center. The facility will focus on sustainability and support a newly expanded cooperation agreement with Japan's Ministry of Economy, Trade and Industry (METI). Boeing and METI have agreed to broaden their 2019 Cooperation Agreement to now include a focus on sustainable aviation fuels (SAF), electric and hydrogen powertrain technologies, and future flight concepts that will promote zero climate impact aviation. That is in addition to exploring electric and hybrid-electric propulsion, batteries, and composite manufacturing that will enable new forms of urban mobility. "We are excited to open our latest global research and technology center here in Japan," said Greg Hyslop, Boeing chief engineer and executive vice president of Engineering, Test & Technology. "Working with terrific partners like METI, the new center will expand upon Boeing-wide initiatives in sustainable fuels and electrification, and explore the intersection of digitization, automation and high-performance aerospace composites for greater sustainability in our future products and production systems." The BR&T - Japan Research Center will be located in Nagoya, which is already home to many of Boeing's major industrial partners and suppliers. The facility will further expand Boeing's research and development footprint in the region, which includes centers in Australia, China and Korea. Boeing is fully committed to supporting Japan's SAF industry and has been accepted as the latest member of ACT FOR SKY, a voluntary organization of 16 companies that works to commercialize, promote and expand the use of SAF produced in Japan. It was founded by Boeing airline customers All Nippon Airways (ANA) and Japan Airlines (JAL), along with global engineering company JGC Holdings Corporation, and biofuel producer Revo International. Masahiro Aika, representative of ACT FOR SKY, said, "ACT FOR SKY welcomes the participation of Boeing. We look forward to Boeing collaborating with the other members to "ACT" for the commercialization, promotion and expansion of SAF in Japan." In addition to becoming partners in ACT FOR SKY, Boeing has a long history of innovating with ANA and JAL on sustainable aviation, which includes pioneering SAF-powered flights and launching the ground-breaking 787 Dreamliner. Today, they signed agreements to work together to study advanced sustainable technologies, including electric, hybrid, hydrogen and other novel propulsion systems in an endeavor to reduce the carbon footprint of aircraft. Boeing Chief Sustainability Officer Chris Raymond added, "To ensure the enormous societal benefits of aviation remain available for generations to come, we must continue to partner with capable innovators and leaders to support the industry's commitment to net zero carbon emissions by 2050. We are humbled to join ACT FOR SKY and collaborate with other members to share global best practices and help with the scale up and demand of SAF in Japan. And we are honored to open the Japan Research Center and expand our work with airline customers ANA and JAL on advanced technologies to realize zero climate impact aviation." As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing's diverse team is committed to innovating for the future, leading with sustainability, and cultivating a culture based on the company's core values of safety, quality and integrity. Join our team and find your purpose at boeing.com/careers. Source: Biodiesel Magazine Aug 03, 2022: China's C919 poised to challenge Boeing, Airbus China's C919 narrowbody passenger jet has completed all test flights, bringing the plane a step closer to receiving an airworthiness certificate for commercial operations in China. Commercial Aircraft Corp of China (Comac), founded in 2008 and headquartered in Shanghai, has spent almost seven years testing its self-developed C919 airliner, which ultimately aims to compete with France's Airbus A320 and America's Boeing 737. The company has submitted the C919 test results to the Civil Aviation Administration of China (CAAC), the country's aviation regulator, and will then wait for official certification to fly. The C919's official launch may take place in the next two years while mass production is expected to commence between 2027 and 2029. Chinese state media trumpeted the successful test flights as a big milestone for China's civil aviation industry, meaning that China now has the ability to assemble its own passenger flights. The Communist Party mouthpiece Global Times quoted unnamed market observers as saying C919 had two key advantages, namely price and after-sale services, against foreign competitors for the local market. Global Times said the aircraft's price tag will be lower than that of comparable Boeing and Airbus aircraft, as it will be exempt from import duties, and that production and service teams will be based in China, which will provide convenience to Chinese airlines. However, other Chinese media said the passenger jet could face obstacles if Comac is eventually banned from using US engines and parts. Aero Engine Corporation of China, a state-owned enterprise, started developing China's first turbofan engine known as CJ-1000A a decade ago. With parts and technologies supplied by the United Kingdom, Germany and Italy, the company targeted to make breakthroughs on the project within five years. Chinese state media trumpeted the successful test flights as a big milestone for China's civil aviation industry, meaning that China now has the ability to assemble its own passenger flights. The Communist Party mouthpiece Global Times quoted unnamed market observers as saying C919 had two key advantages, namely price and after-sale services, against foreign competitors for the local market. Global Times said the aircraft's price tag will be lower than that of comparable Boeing and Airbus aircraft, as it will be exempt from import duties, and that production and service teams will be based in China, which will provide convenience to Chinese airlines. However, other Chinese media said the passenger jet could face obstacles if Comac is eventually banned from using US engines and parts. Aero Engine Corporation of China, a state-owned enterprise, started developing China's first turbofan engine known as CJ-1000A a decade ago. With parts and technologies supplied by the United Kingdom, Germany and Italy, the company targeted to make breakthroughs on the project within five years. Media reports said after Comac obtains an airworthiness certificate, it would have to spend another six to 12 months conducting demonstration flights on commercial routes and providing technical training for pilots and other relevant personnel. That means the C919's official launch will likely be held between 2023 and 2024. However, whether Comac would be able to start the mass production of C919 on schedule in 2027 was another matter altogether, analysts said. Of the C919's 82 primary suppliers, 48 are American companies while 26 are European firms, according to a report published by the Center For Strategic International Studies, a US-based think tank. That means 90% of the C919's suppliers are Western companies. The C919 airliner uses a high-bypass turbofan engine known as the leading edge aviation propulsion (LEAP), which is produced by CFM International, a 50-50 joint venture between American GE Aviation and French Safran Aircraft Engines. It also uses an auxiliary power system, wheels and brakes, flight control package and navigation package supplied by Honeywell Technologies, a US company. In late 2020, the Trump administration banned Comac from buying US aircraft parts because the firm allegedly had ties with the People's Liberation Army Air Force. A Chinese article titled "What if the US stops supplying engines for C919?" was widely circulated by Chinese websites last year. The article said some people were doubtful whether C919 could be called "self-developed by China" as most of its parts were made by foreign companies. Others said such criticism was groundless as the most difficult part of making a plane was the assembly. It noted that even Boeing and Airbus used foreign-made parts. The same article said Comac had to prepare for the possibility that the US could ban it from using CFM International's LEAP engine. It said Comac had already started developing the CJ1000 engine several years ago and would probably be able to make breakthroughs within the next five years. It said by that time, C919 would enter its mass production phase and could use the CJ1000. MTU Aero Engines, a German aircraft engine manufacturer, and Avio S.p.A., an Italian aerospace firm, had contributed to the development of the CJ1000 engine, according to previous reports. GKN, a British automotive and aerospace component supplier, provided ACAE with the low-pressure turbine shafts for the CJ1000 project. Zou Jianjun, a professor at the Civil Aviation Management Institute of China, said it would take some time for C919 to accumulate a flying record before it could apply for airworthiness certificates overseas. Zou said it was too early to say when the C919 could be shipped globally. Zou predicted annual demand for C919s in China would be about 300 units per year over the next 20 years. He predicted the C919's market share would depend on the pace of its production and delivery. Comac claims it has already received 815 orders for the C919 from 28 customers worldwide. Over 50% of all commercial jets operating in China are Boeing aircraft, and more than 10,000 Boeing aircraft currently fly around the world using Chinese-made components and assemblies, according to the official website of Boeing, the Global Times reported. Airbus told the Global Times earlier that China is the largest single-country market for Airbus' commercial aircraft and deliveries to the Chinese market last year represented over 20% of Airbus' total deliveries worldwide, the same state media report said. Source: Asia Times Aug 03, 2022: US Asks To Seize Boeing 747 In Argentina Linked To Iran's IRGC The United States Tuesday asked permission to confiscate an Iranian plane impounded in Argentina on suspicions of links to international terrorist groups. Argentina grounded the 747 cargo plane after its unannounced arrival from Mexico to an airport in Buenos Aires on June 8. The plane originally belonged to Iran's Mahan airline affiliated with Iran's Revolutionary Guard (IRGC) and sanctioned by the US for transporting arms to Syria and supporting terrorism. The plane had arrived in Argentina with a crew of 19 people, including five Iranians, some with clear ties to the IRGC. Argentina confiscated their passports. In recent days, a judge ordered the release of 12 crew members after weeks of being denied permission to leave Argentina. In June, Gerardo Milman, an Argentine lawmaker, told Iran International that Iranians aboard the Venezuelan plane planned "attacks on human targets." Contrary to Iran's claim June 13 that the plane was not owned by an Iranian company, Milman said the pilot was "a senior official of Qods (Quds) force," Tehran's extraterritorial intelligence and secret ops outfit listed as a terrorist organization by the United States. Early in 2022, a Venezuelan government company decided to set up a cargo division that came to be called Emtrasur Cargo and its first plane was the Boeing 747-300M bought or leased from Mahan airlines and christened 'Louisa Caceres Arismendi.' The grounding of the 747 sparked weeks of intrigue as well as concern within the Argentine government over its ties to Iran and Venezuela and companies sanctioned by the US. Source: Iran International Aug 02, 2022: PerkinElmer, Boeing rise; Royal Caribbean, Aerojet fall NEW YORK (AP) - Stocks that traded heavily or had substantial price changes Monday: PerkinElmer Inc., up $7.70 to $160.87. The maker of scientific instruments raised its profit forecast for the year. Boeing Co., up $9.76 to $169.07. The airplane maker cleared a key hurdle with federal regulators and could soon resume deliveries of its large 787 airliner. Valvoline Inc., down 87 cents to $31.35. The automotive and industrial lubricants maker is selling its global products business to Saudi Aramco in a $2.65 billion deal. Builders FirstSource Inc., up $5.34 to $73.34. The construction supply company handily beat Wall Street's second-quarter earnings forecasts. EVO Payments Inc., up $6.37 to $33.71. Global Payments is buying the payment technology company for about $4 billion. Celsius Holdings Inc., up $9.91 to $98.87. The energy drink maker announced a long-term distribution and investment deal with PepsiCo. Royal Caribbean Group, down $2.92 to $35.79. The cruise line announced a private offering of up to $900 million in senior convertible notes. Aerojet Rocketdyne Holdings Inc., down $3.17 to $40.52. The aerospace and defense company reported disappointing second-quarter financial results. Source: The Seattle Times Aug 02, 2022: PerkinElmer, Boeing rise; Royal Caribbean, Aerojet fall NEW YORK (AP) - Stocks that traded heavily or had substantial price changes Monday: PerkinElmer Inc., up $7.70 to $160.87. The maker of scientific instruments raised its profit forecast for the year. Boeing Co., up $9.76 to $169.07. The airplane maker cleared a key hurdle with federal regulators and could soon resume deliveries of its large 787 airliner. Valvoline Inc., down 87 cents to $31.35. The automotive and industrial lubricants maker is selling its global products business to Saudi Aramco in a $2.65 billion deal. Builders FirstSource Inc., up $5.34 to $73.34. The construction supply company handily beat Wall Street's second-quarter earnings forecasts. EVO Payments Inc., up $6.37 to $33.71. Global Payments is buying the payment technology company for about $4 billion. Celsius Holdings Inc., up $9.91 to $98.87. The energy drink maker announced a long-term distribution and investment deal with PepsiCo. Royal Caribbean Group, down $2.92 to $35.79. The cruise line announced a private offering of up to $900 million in senior convertible notes. Aerojet Rocketdyne Holdings Inc., down $3.17 to $40.52. The aerospace and defense company reported disappointing second-quarter financial results. Copyright (CopyRight) 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed. Source: WTOP Aug 02, 2022: Stephen King testifies; Musk strikes back; Boeing 787 gets OK: 3 legal stories to watch The usually quiet month of August this week kicks off with a trial Monday over the Justice Department's antitrust lawsuit challenging Penguin Random House's pending acquisition of rival Simon & Schuster. We're also watching Tesla (TSLA) CEO Elon Musk's countersuit against Twitter (TWTR), which he filed Friday as part of his ongoing efforts to walk away from his $44 billion agreement to acquire the social media site. And after more than a year of delays, Boeing (BA) reportedly has the Federal Aviation Administration's clearance on its plan to repair and resume deliveries of its 787 Dreamliner. Here's more on the three legal stories we're watching this week: Trial begins over publishing dominance Penguin Random House, the world's largest book publisher, is scheduled to begin a trial in Washington, DC, on Monday to defend the Justice Department's federal antitrust lawsuit seeking to stop its $2.2 billion deal to acquire rival Simon & Schuster. The deal, reached in 2020, would reduce the number of U.S. publishers from five to four. The Justice Department contends the deal would allow Penguin Random House to control close to half the market for publishing rights acquisitions - leaving consumers with fewer choices. The department also argues that the deal would drive down compensation paid to authors for their work. The legendary novelist Stephen King - author of books including "The Shining," "Carrie," and "Misery" - is slated to testify on behalf of the government. Musk struck back against Twitter (TWTR) on Friday in a countersuit as part of his ongoing efforts to avoid going through with his deal to buy the company for $44 billion. The Tesla (TSLA) CEO filed the counterclaim confidentially, hiding it from public view. A counterclaim could frustrate the case's timeline already set for trial in October, given that time is generally set for the parties to exchange and review documents. Last week the Delaware Chancery Court's chief judge granted Twitter an expedited trial to take place over five days in October. The judge also granted Musk's request for an Oct. 17 start date. Twitter is seeking the fast-paced trial to avoid what it says are irreparable harms of ongoing business disruptions and stock market volatility. Source: Yahoo Finance Aug 02, 2022: Boeing (LON: BOE) Stock Price Passes Above 200-Day Moving Average of $167.63 The Boeing Company (LON:BOE - Get Rating) shares passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of GBX 167.63 ($2.05) and traded as high as GBX 171.74 ($2.10). Boeing shares last traded at GBX 170.04 ($2.08), with a volume of 31,702 shares traded. Boeing Trading Up 7.3 % The firm has a 50-day moving average price of GBX 139.29 and a 200-day moving average price of GBX 167.63. The company has a debt-to-equity ratio of 6,813.79, a quick ratio of 0.29 and a current ratio of 1.30. The stock has a market cap of Pound1.01 billion and a PE ratio of -20.52. About Boeing (Get Rating) The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital. Source: Defense World Aug 02, 2022: Boeing to establish R&D facility on sustainable aviation fuel Boeing Co said on Monday it plans to establish a research and development (R&D) facility in Japan to further development in sustainable aviation fuel (SAF) and to advance electric and hydrogen aircraft technology. Source: India Today Aug 02, 2022: Japanese Boeing 777 makes emergency landing in Tokyo TOKYO (Aug 2): A Boeing 777 aircraft of the Japan Airlines made an emergency landing at Tokyo's Haneda airport on Tuesday morning (Aug 2), due to an engine malfunction, Sputnik quoted a Kyodo News report as saying. According to the Japanese media outlet, the incident took place soon after the aircraft, heading south-west to Naha, departed from Tokyo. The aircraft, which carried 300 passengers, landed safely and no injuries were reported. The Boeing 777 is a twin-engine passenger aircraft, which allows it to land safely even with one working engine. The aircraft was designed by US-based Boeing Company in 1993. Source: The Edge Markets Aug 01, 2022: Boeing submits new contract ahead of strike by defense workers Boeing Co. has put forward a modified contract for about 2,500 union members at three defense locations near St. Louis, days after the workers voted to reject a previous draft and begin a strike next week. "This new offer builds on our previous strong, highly competitive one and directly addresses the issues raised by our employees," a Boeing spokesperson said in a statement on Saturday. "We are hopeful they will vote yes." Members of the International Association of Machinists and Aerospace Workers District 837 acknowledged the new contract offer on the union's website, and said negotiations have been extended through Wednesday. The workers had been set to strike starting Monday. Priorities in the negotiations are wages, strengthening 401(k) retirement plans and eliminating a two-tier wage system, according to the union. "We cannot accept a contract that is not fair and equitable, as this company continues to make billions of dollars each year off the backs of our hardworking members," it said earlier this week. Lump Sum The new contract would provide an $8,000 lump sum that can be taken in cash or deferred to 401(k) plans while maintaining its existing Boeing 401(k) plan. It also would increase the hourly second shift pay differential and provide wage increases for everyone in every year of the contract. The union didn't immediately respond to a request for comment about the changes. The workers in St. Louis and St. Charles, Missouri, and Mascoutah, Illinois, build military aircraft including the F-15, F-18, T-7A trainer and the MQ-25 unmanned refueler. The contentious negotiations may portend an equally tough time for Boeing in the next round of contract talks for IAM's much larger contingent at the company's Seattle commercial-aircraft operations, which has about 30,000 Machinists members in a separate bargaining unit. Boeing said in May that it's moving its headquarters from Chicago to Arlington, Virginia, to be nearer decision-makers at the Pentagon and elsewhere in the US government. Source: American Journal of Transportation Aug 01, 2022: Boeing appoints Brian Besanceney as Chief Communications Officer The Boeing Company announced the appointment of Brian Besanceney as senior vice president and chief communications officer, beginning September 6, 2022. Besanceney, a corporate affairs leader with more than 25 years of strategic communications and government relations experience, including senior roles at Walmart and Disney, will oversee all aspects of Boeing's communications, including media relations, external affairs, employee engagement, and company branding. Besanceney will report to Boeing President and CEO David Calhoun and will sit on the Executive Council. "Brian is an outstanding communications executive with a proven record of leading global teams and helping several of the world's well-known companies and organizations tell their stories, in addition to managing complex issues in the private sector and at the highest levels of government," Calhoun said. "I am confident Brian will help us build on our ongoing commitment to engaging our employees and stakeholders transparently as we continue to navigate a challenging global environment and work to position Boeing for the long term." Besanceney most recently served as Walmart's senior vice president and chief communications officer, where he was highly regarded for his strategic communications counsel and effective leadership of the company's comprehensive global communications, which included media, social and digital, stakeholder engagement, and events for the world's largest company. Prior to joining Walmart, Besanceney was senior vice president of public affairs at Walt Disney World, where he was in charge of external and internal communications, corporate citizenship, as well as global government and industry relations for Disney's Parks & Resorts business. Prior to joining Disney, Besanceney held critical positions in the US government, including deputy chief of staff to Secretary of State Condoleezza Rice at the US State Department and assistant secretary for Public Affairs at the US Homeland Security Department. Besanceney worked in the White House under President George W. Bush in the early 2000s, including two years as Special Assistant to the President and Deputy White House Communications Director for Planning. He formerly worked as a public relations and government relations consultant and as the communications director for then-Rep. Rob Portman. Besanceney is a member of the boards of Orlando Health, a not-for-profit hospital system in the southern United States with $8 billion in assets under administration, and the Institute for Public Relations. He formerly served on the boards of the Trust for the National Mall and The Nature Conservancy's Florida Chapter. Besanceney takes over for Ed Dandridge, who left Boeing in June. He will work out of the company's worldwide headquarters in Arlington, Virginia. Boeing, a worldwide aerospace leader, designs, manufactures, and maintains commercial aircraft, defence goods, and space systems for clients in over 150 countries. As a leading US exporter, the firm taps into the capabilities of a worldwide supplier base to enhance economic opportunity, sustainability, and community impact. Boeing's diverse workforce is dedicated to inventing for the future, leading with sustainability, and developing a culture founded on the company's fundamental values of safety, quality, and integrity. Source: Adgully.com Aug 01, 2022: Boeing Eyes Japan Sustainability Research Center Earlier this morning, Boeing announced its plans to open a new research facility located in Nagoya, Japan. This marks the latest extension of an existing Cooperation Agreement, which the US manufacturer signed in 2019 with Japan's Ministry of Economy, Trade and Industry (METI). Let's take a closer look at Boeing's plans. Exploring various new technologies Boeing is a company that is currently placing a strong emphasis on sustainability. As such, it will use the new facility, known in full as the Boeing Research and Technology (BR&T) Japan Research Center, to focus on elements such as Sustainable Aviation Fuel (SAF). Electric and hydrogen technologies will also be the subject of Boeing's research in Japan, as well as future flight concepts. Boeing has already begun posting Nagoya-based job listings online. As far as the city is concerned, it benefits from a very central location. Indeed, it is located between the major cities of Osaka and Kobe to the east, and Tokyo and Yokohama to the west. Furthermore, Boeing notes that several of its existing suppliers and partners are already based there. Greg Hyslop, its Chief Engineer, stated: "Working with terrific partners like METI, the new center will expand upon Boeing-wide initiatives in sustainable fuels and electrification, and explore the intersection of digitization, automation and high-performance aerospace composites for greater sustainability in our future products and production systems." Source: Simple Flying Aug 01, 2022: Stocks making the biggest moves midday: PerkinElmer, Boeing, Global Payments, Bumble and more Boeing - Shares of the plane maker rallied more than 7% after CNBC reported the Federal Aviation Administration has approved inspection protocol revisions that should allow the jet maker to resume deliveries of its 787 Dreamliner. Separately, Boeing defense workers will vote on a new proposed labor agreement on Wednesday, aiming to avert a strike. Target - The retail stock rose more than 2% after Wells Fargo upgraded Target to overweight from equal weight. The firm said investors are too down on the stock, which it considers a "proven share gainer." PerkinElmer - Shares of PerkinElmer jumped more than 6% after the diagnostics and life sciences company reported better-than-expected sales and profit for the second quarter. It also announced plans to divest some of its non-core units to the private equity firm New Mountain Capital for $2.45 billion in cash. Advanced Micro Devices - Several semiconductor stocks surged, with Advanced Micro Devices gaining 2.5%. Shares of Micron Technology, Nvidia and Intel all climbed about 2%. Global Payments - Shares of the financial technology company rose 7.5% after a better-than-expected quarterly report. Global Payments reported $2.36 in adjusted earnings per share on $2.28 billion of revenue. Analysts surveyed by Refinitiv had penciled in $2.34 in earnings per share on $2.07 billion of revenue. Global Payments also announced a deal to buy EVO Payments for $34 per share. Colgate-Palmolive - The consumer products company gained more than 2% following a Wells Fargo upgrade to equal weight from underweight. The firm said Colgate-Palmolive's bottom line could show signs of improvement going forward. Nio - Shares advanced more than 2% after the Chinese electric vehicle company and its rival Li Auto all reported an increase in July car deliveries. Li Auto surged 3%. Check Point Software Technologies - Shares fell 4% after the cybersecurity firm reported disappointing billings revenue. Billings came in at $570.6 million, below a StreetAccount estimate of $578.3 million. That overshadowed better-than-expected earnings and revenue for the previous quarter. Bumble - The dating app company's stock slipped 5.1% on the back of a downgrade from Jefferies to a hold, citing a decline in paying subscribers going forward. Jacobs Engineering Group - Shares declined 5.5% after the international technical professional services firm reported calendar second quarter earnings. Jacobs lowered guidance for fiscal year 2022, citing foreign currency translation adjustments, despite otherwise surpassing expectations in its report. - CNBC's Yun Li, Tanaya Macheel, Jesse Pound and Samantha Subin contributed reporting Source: CNBC Jul 30, 2022: Boeing Clears Hurdle for Resuming 787 Dreamliner Deliveries U.S. air-safety regulators signed off on a Boeing Co. BA 0.14%▲ plan aimed at addressing problems with the 787 Dreamliner, a major step before the company restarts deliveries of the aircraft, according to people familiar with the matter. The first 787 delivery is expected to occur within days, one of the people familiar with the matter said. Resuming deliveries would relieve financial pressure on the plane maker, which needs to hand over Dreamliners to generate much-needed cash. The Federal Aviation Administration has approved Boeing's plan for dealing with problems and carrying out fixes for the planes, but would still need to clear each 787 delivery. The company still has to submit paperwork for the first planned delivery to the regulator, said the person. The FAA's move was earlier reported by trade publication Aviation Week. Boeing hasn't been able to deliver Dreamliners for much of the past two years because of a series of production defects that drew increased scrutiny by its own engineers and regulators at the FAA. The aerospace giant said it had about 120 of undelivered Dreamliners-which analysts estimate are together worth more than $25 billion-in its inventory at the end of June. The freeze has hobbled Boeing's cash flow, with just 14 aircraft delivered since the start of 2021. The impact has rippled across the supply chain as monthly production has fallen to a handful from a peak of 14. Source: Wall Street Journal Jul 30, 2022: The Boeing Company (BA) Q2 2022 Earnings Call Transcript Analysts: Doug Harned - Bernstein - Analyst Rob Spingarn - Melius Research - Analyst Sheila Kahyaoglu - Jefferies - Analyst Noah Poponak - Goldman Sachs - Analyst David Strauss - Barclays - Analyst Seth Seifman - JPMorgan - Analyst Cai von Rumohr - Cowen - Analyst Kristine Liwag - Morgan Stanley - Analyst Rich Safran - Seaport Research Partners - Analyst George Shapiro - Shapiro Research - Analyst Presentation: Operator Thank you for standing by. Good day, everyone, and welcome to The Boeing Company's Second Quarter 2022 Earnings Conference Call. Today's call is being recorded. The management discussion and slide presentation plus the analyst question-and-answer session are being broadcast live over the Internet. [Operator Instructions] At this time, for opening remarks and introductions, I'm turning the call over to Mr. Matt Welch, Vice President of Investor Relations for The Boeing Company. Mr. Welch, please go ahead. Matt Welch - Vice President of Investor Relations Thank you, John, and good morning, everyone. Welcome to Boeing's Second Quarter 2022 Earnings Call. I am Matt Welch, and with me is Dave Calhoun, Boeing's President and Chief Executive Officer; and Brian West, Boeing's Executive Vice President and Chief Financial Officer. And as a reminder, you can follow today's broadcast and slide presentation through our website at boeing.com. As always, we have provided detailed financial information in our press release issued earlier today. Projections, estimates and goals we include in our discussions this morning involve risks, including those described in our SEC filings and in the forward-looking statement disclaimer at the end of this web presentation. In addition, we refer you to our earnings release and presentation. [Technical Issues] Operator And this is John with AT&T, please continue. David L. Calhoun - President and Chief Executive Officer Start over? Okay. Sorry, we were muted. It's good to be with all of you. Thanks, Matt, for the intro. I want to start my brief comments upfront with just a revisit at the Farnborough Air Show a little over a week ago. It was important for us. It was an emotional outcoming for our company and our people. We always look a little better when we are standing next to our products and the flight teams who are operating them. It was great to see, and I think everyone witnessed the 777 times in flight, which was more than magnificent, the Dash 10 also in flight and our investment in Wisk and its product in the important eVTOL market. We met with our customers, we met with suppliers, partners, the usual, except it didn't feel like the usual because it had been a while. We're proud of the orders that we collected over the course of that week, over 200 orders and commitments. And importantly, it covered the whole line, the 737 MAX, our 87 and the 777 times. And it shows the extent to which our airlines are already - our airline customers are already anticipating fleet renewal projects and their willingness to bet forward on that prospect. Needless to say, they're all as busy as they can be trying to get their own fleets up and running and the supply constraints they face dealt with. Looking at the quarter, a lot of things good happened over the quarter. We are on the verge of returning to the 87 delivery process. I won't give a date. I never have. That's up to the FAA. But we've been working closely with our customers and the regulator on those final steps. We're proud of our team. We're proud for the discipline and the detailed work they applied over this long course. And it will be worth it. In the end, we'll have a predictable and high-quality line, and our customers will be pleased with the products. And a reminder to everyone that this 87 fleet that's out there has been working harder than it's ever worked. And it's been performing incredibly well. Turning to the MAX. Again, one airplane at a time, the fleet is performing incredibly well, oftentimes exceeding the specification and expectations our customers had when they originally placed their orders. And we continue to work hard on predictability of the delivery chain. And we're focused mostly on the engine supply lines and then those second-tier constraints that those engine suppliers are facing. And I think we've made an awful lot of progress on that front. Brian will give you sort of our best guess on how this year turns out with respect to those deliveries. But it is - it's now, I think, based on a far better knowledge of what those supply constraints are and commitments from our supply side engine suppliers. In BDS, I don't want to skip over the Starliner. It was important. It was an emotional up for all of us at Boeing to get back on track. We had a wet dress for the space launch system rocket, the biggest rocket yet. We're looking forward to that launch. So we had a good sort of engineering coming out with respect to those achievements. And yes, we're still working through some of the challenging macro environment issues, especially with respect to our fixed price development contracts. And Brian will also walk you through that. And then finally, on the services side, like pretty much everyone that's been reporting, it is coming back, and it's coming back in a rapid way. Our commercial service business was up 30%. It carries strong margins with it. And so it's a big and important contributor to our overall cash flow story. And again, the result of all of this work, a big step forward with respect to stability. We did debt to cash flow - operating cash flow positive. So that puts us a little bit ahead of our internal plan, and we feel good about that. And we are still committed to be cash flow positive for the calendar year 2022. It's underpinned by a very strong commercial market. I think you all know that. Everyone has spoken to it. A lot of supply constraints out there with respect to the operators of our airplanes, the airlines and what they've got to do to get the fleets running efficiently and build their capacity where it needs to be. But they are out there in the market trying to rebuild their fleets for the future and to meet that significant demand. And so far, we have not seen any drawback on that demand. While we understand the sort of recession fears that are growing out there, so far, it has not impacted the aviation industry or our customers. So mostly what we're focused on, and I don't think it will surprise anyone, and I think I've heard it in most of my peers' reports is the supply chain, stabilizing it, making sure that it's predictable and consistent. And for us, in particular, with respect to the commercial side of our business, it relates to engine production, engine availability so that we can predictably deliver airplanes to our customers. We think we've made an awful lot of progress on that front. I know you've heard directly from the engine suppliers. They are making progress, and we've adjusted all of our delivery rate expectations at least in the near term to satisfy those constraints. A comment quickly on regulatory and geopolitical. I'll start with geopolitical, China. The good news is that because of the strong demand in the marketplace, we've been able to manage our risk going forward with respect to the airplanes that we have built and are awaiting delivery. We intend to stand by our Chinese airlines, stand by the CAAC and get those airplanes back. But the timing, which has been pushed and deferred in light of some of the COVID management issues in China and some of that geopolitical overhang, we can suffer our way through that and will. And it should not impact the cash flow positive posture that we've taken for the year. So it's a little easier to manage for us. It's no less important, and we will continue to encourage our administration to work as closely as they can with the Chinese to reopen the trade card or with respect to aviation, a relationship we've enjoyed for over 50 years. And we'll continue to support our customers. Medium and long term, it does represent the difference between commercial aerospace leadership or not, given the size and scale of the China market. And then on the regulatory front, we are working constructively with the FAA. We have our heads down. We're working towards certification by year-end on the Dash seven and the Dash 10. And we believe what we're working on is, in fact, the safe option with respect to all options in the narrow-body space. And so we're going to just keep plugging away. And anyway, that's enough said. As we navigate through this environment, stability is the watch word for all of us. We want to be predictable. We think that will differentiate us. And that's why we've got - we're focused on it. We continue to increase our investment in research programs, the readiness program with respect to the next big commercial airplane, all the digital modeling tools that are required to be ready for that, we continue to invest aggressively in. And we continue to enhance those underlying digital technologies that we will bring ultimately to the services market as well. Safety, quality, transparency, these are values, and this is what we remain focused on. So before I turn it over to Brian, the MAX, it's on track. And it's performing for customers, in many cases, exceeding expectations. We think we're through the most difficult parts of COVID-19. Starliner, a pivotal and emotional test for The Boeing Company, and we feel good about it, and we're ready for the crewed flight. Global Services, on its way back in a big way. We feel terrific about their progress. And now we are at the detailed moment to get ready for 787 deliveries, the moment we've been waiting for. And we look and feel as though we're on the verge of doing so. So we've taken a long view. We continue to take a long view. And we do believe we're in the middle of a turnaround, and it's beginning to show itself. So with that, I'll end my opening comments and turn it over to Brian. Brian West - Chief Financial Officer, Executive Vice President, Finance Thank you, Dave, and good morning, everyone. This was an important quarter. We made good progress on key programs and a pretty dynamic macro environment affected by inflation, labor availability and supply chain constraints, all of which impacted both us and the industry. Despite these challenges, we improved our quarter-over-quarter cash performance and importantly, generated positive operating cash flow. Cash was driven by higher commercial delivery volume as well as order activity and advanced payment timing. This keeps us on track to generate positive free cash flow for the year and higher cash flows in 2023. We still think about our performance in three parts and remain confident about the trajectory. First, as Dave mentioned, we made progress on key milestones. We're nearing a return for the 87 and are preparing airplanes for delivery. We continue to focus on 37 production stability of 31 MAXs per month. And we've derisked China from our near-term delivery profile. Next, as we see continued progress on these programs, we anticipate improvement in our performance metrics, including deliveries, revenue, margin and cash flow in the back half of the year. We also expect cash flow benefits from order activity and favorable receipt timing over the next two quarters. Finally, our financial performance should start to accelerate into 2023. Going forward, there is a significant opportunity for our company to return to sustainable growth. And we look forward to sharing our plans at our Investor Day on November one and two. Before getting into the financials, I want to make a few points on the current business environment on slide three. Demand for commercial airplanes is strong, especially in the freighter market. We've seen cargo traffic increase from 2019 levels largely driven by e-commerce and the efficiency of air freight. With more than 90% share of the freighter market, our lineup is well positioned to capture continued growth. On the passenger side, traffic has recovered significantly but is still well below where it's been historically relative to global GDP. As airlines are currently in the middle of the summer high season, operational and supply constraints are becoming the pacing item for air traffic growth in the markets leading the recovery. That said, the commercial traffic recovery is accelerating. And passenger traffic has reached its highest point since 2019 in both North America and Europe. Domestic traffic remained relatively stable at 77% of 2019 levels as of May. While China still lags significantly, we saw some improvements in flight operations in June as travel restrictions lifted. Excluding China, domestic traffic was over 90% of 2019 levels. International traffic is gaining momentum at 64% of 2019, up from just 48% in March, especially in regional markets such as intra-Europe, transatlantic and U.S.-Mexico as well as notable improvements via the Middle East and in some parts of Asia. Overall, our commercial passenger market recovery expectations are in line with what we've shared previously. We still see overall passenger traffic returning to 2019 levels in the 2023 to 2024 time frame. Taking all of this into consideration, we recently released our 2022 commercial market outlook, which forecasts a total addressable market valued at more than $3.3 trillion over the next decade and demand for nearly 20,000 airplanes. The forecast closely aligns to what we laid out last year and reflects the market's continued recovery. More specifically, we anticipate demand for more than 14,000 narrow-bodies or over 120 per month on average over the next 10 years. From a 20-year perspective, we project demand for more than 41,000 new airplanes, including 940 dedicated freighters. We are very confident in our product lineup, which is well suited to capture this long-term demand. And we feel very good about last week with over 200 orders and commitments at Farnborough. We appreciate the trust and confidence our customers are placing in us. Our services business also continues to benefit from growing commercial fleet and strong cargo markets with several Boeing converted freighter and materials management agreements recently announced. Over the next 10 years, we see a $3.3 trillion service market that aligns well with our broad customer-focused portfolio of offerings. In Defense and Space, we see solid long-term markets, both domestically and internationally. In the United States, there is support for increased defense spending in Congress to meet the challenges of today. Internationally, many of our fellow NATO members, partners and allies have announced plans for increased spending on national defense, and we look forward to more specifics around these priorities. Turning to the supply chain. We continue to experience real constraints. We're taking action to mitigate risk in a number of areas, including engines, raw materials and semiconductors. To stabilize production and support our supply chain, we're increasing our on-site presence at suppliers, creating teams of experts to address industry-wide shortages, utilizing internal fabrication for search capacity and managing inventory safety stock levels and growing where needed. With that backdrop, let's turn to financials on slide four. Second quarter revenue of $16.7 billion declined 2%, and we generated $0.5 billion of core operating earnings. After accounting for interest expense and taxes, we had a core loss per share of $0.37. Operating cash flow was positive $0.1 billion, in line with our expectations and an improvement from the same period last year. Let's move to Commercial Airplanes on slide five. Second quarter revenue was $6.2 billion, up 3% primarily driven by higher 37 deliveries, partially offset by lower 87 deliveries. Operating losses of $0.2 billion and the resulting negative margin rate reflect abnormal costs and period expenses, including higher R&D expense as we continue to invest in the business. On the 87 program, we're very close to resuming deliveries. We're readying airplanes together with our customers and have completed flight checks on the initial airplanes. As always, we will follow the lead of the FAA on the specific timing. We have 120 airplanes in inventory and are making progress completing the necessary rework to prepare them for delivery. As stated last quarter, we're producing at very low rates and we'll continue to do so until deliveries resume, gradually returning to five airplanes per month over time. Similar to the 37 program, the supply chain remains a key watch item for 87 production and deliveries. We recorded $283 million of 87 abnormal costs in line with expectations, and we still anticipate a total of about $2 billion with most being incurred by the end of 2023. These costs are driven by rework and production rates below five per month. It is important to keep in mind that cash margins on the 87 remain positive and are expected to improve significantly over time. However, as we deliver the first few 87 airplanes, you may see some variability in cash payments as we compensate customers for delays. The 87 continues to be the most utilized wide-body airplane due to its operational efficiency and flexibility. With over 400 airplanes in backlog, recent orders and commitments announced at Farnborough and additional demand as the commercial market recovers, we see a strong future for the 87 program. Moving on to the 37 program. We've delivered 189 airplanes year-to-date, below our original expectations due to three things: supply chain disruptions, flow time of taking airplanes out of storage and timing of deliveries to Chinese customers. We don't anticipate making up those deliveries in the back half of the year, and we'll continue to experience monthly variability, including a light month in July. We now expect delivery to be closer to the low 400s for 2022, short of what we discussed earlier this year as we drive stability and predictability. We ended the quarter with 290 MAX airplanes in inventory, of which roughly half are designated for customers in China. Given this uncertainty with our customers in China, we now expect more deliveries of airplanes from inventory to shift into 2024. Due to overall progress on MAX production, we did not book abnormal costs in the quarter. Additionally, we've reached agreement on over 95% of our MAX customer consideration liability. Shifting to the 777-9 program, our status is largely unchanged from what we shared last quarter. We still anticipate delivery of the first 777-9 airplane in 2025 and continue to coordinate with the FAA to prioritize resources across our development programs. We booked $102 million of 777 abnormal costs in the second quarter, in line with our expectations. And we still expect to record $1.5 billion of these costs through 2023 while 777-9 production remains paused. Turning to overall demand at BCA. During the quarter, we booked 184 commercial airplane orders, including 169 orders for the 737 MAX. At the end of the second quarter, we had over 4,200 airplanes in backlog valued at $297 billion. Let's now move on to Defense, Space & Security on slide six. Second quarter revenue was $6.2 billion, down 10% driven by lower volume and operational performance. Operating margin was 1.1% driven by approximately $400 million of charges on fixed-price development programs, most notably $147 million on MQ-25 and $93 million on commercial crew. This total also includes relatively small cost growth on the T-7A tanker and VC-25B, with no one program impacted by more than about $50 million. And the drivers were largely supply chain impact and inflation. All of this will be outlined in the Q. We also saw these same pressures across a few of the mature programs. While this performance was disappointing, we're making progress narrowing our development risk profile and remain confident over the long term. We received $2 billion in orders during the quarter, and BDS backlog was $55 billion. Additionally, the Chinook helicopter has been selected to bring heavy lift capability to the German military. We also achieved important milestones across the portfolio. NASA's Space Launch System completed a wet dress rehearsal, and the KC-46A tanker is now certified to refuel 97% of the military's air refuellable fleet. Let's now turn to Global Services results on slide seven. The Global Services team celebrated its fifth anniversary this month and continues to perform well, especially in our parts and commercial training businesses. We're encouraged by the overall momentum. Second quarter revenue was $4.3 billion, up 6%, and operating margin was 16.9%. Results were driven by higher commercial services volume now nearly back to pre-pandemic levels and favorable mix. We also discontinued an engine distribution agreement in the quarter, which will impact our government service revenue profile going forward. We received $4 billion in orders during the quarter, including a contract for airlift flight dispatch services for the U.S. Air Force and a contract for avionics upgrades and cybersecurity support for the U.S. Navy. The BGS backlog is $19 billion. With strong support for our defense business and our highly valid commercial capabilities, our services business is poised for growth as the commercial market continues to recover. Now let's turn to slide eight to cover cash and debt. We ended the second quarter with strong liquidity comprised of $11.4 billion of cash and marketable securities on the balance sheet and access to $14.7 billion across our bank credit facilities, which remain undrawn. Our debt balance decreased slightly from the end of last quarter to $57.2 billion driven by repayment of maturing debt. Our investment-grade credit rating is a priority. And we remain committed to reducing debt levels through strong cash flow generation over time. As far as the rest of the year is concerned, we still anticipate 2022 total company revenue to be higher than last year primarily driven by higher commercial airplane deliveries on the 37 and 87 programs and growth in our services business, partially offset by lower defense revenue. Looking into 2023, we expect total company revenue growth from this year. BCA revenue is planned to be higher again on 37 and 87 deliveries. The demand outlook for the defense business remains steady, and we expect 2023 revenue to be better than 2022 as the business stabilizes. While we forecast BGS revenue to continue to grow next year, the growth rate will be tempered as we are nearly back to pre-pandemic levels. Turning to cash. We still expect to generate positive free cash flow this year. And the key drivers of second half improvement are higher 37 and 87 delivery volume, orders of advanced payments, BDS receipts as well as favorable expenditure timing. As we look to 2023, we still expect cash flow will be higher than 2022, and we plan to share more details in November. Overall, our performance is tied to several key items: supply chain, production system and delivery stability, 37 and 87 delivery ramp, successful execution and certification of development programs, the commercial market recovery and the macroeconomic environment. While our progress depends on some factors beyond our control, we'll remain focused on our own performance and taking the right actions to drive stability and predictability and growth in the future. Taking a step back, this business and our team have come a long way over the last few years. We've seen our fair share of challenges and more hurdles still remain, but we're making progress. Demand for our product is strong. We're investing in our future, and our people are demonstrating exceptional commitment. With that, over to Dave for closing comments. David L. Calhoun - President and Chief Executive Officer Yes, I'll keep them brief. We do believe we're in the middle of a momentum shift. We're all anxious and looking forward to delivery of our important airplane, the 787. Again, a reminder of how well it is performing in the field, and therefore, this delivery stream is critically important to our customers. So I'll leave it with that, and turn it over to Q&A. Matt Welch - Vice President of Investor Relations Yes. Thanks, Dave. Before we start the Q&A, as I noted at the beginning of this call, we have provided detailed financial information in our press release issued earlier today. Projections, estimates and goals we include in our discussions this morning involve risks, including those described in our SEC filings and in the disclaimer at the end of this web presentation. Please also refer to those materials for a reconciliation of certain non-GAAP measures. With that, as Dave said, we are now prepared to take your questions. Questions and Answers: Operator [Operator Instructions] Our first question comes from Doug Harned with Bernstein. Doug Harned - Bernstein - Analyst Thank you. Good morning. When you look to this year and are looking at positive free cash flow for the year, it appears to really depend heavily on two things: the delivery restart of the 787 and the deliveries for the - the ramp in deliveries for the MAX, which you're now saying you're going to get to the low 400s on this. If you look at those two parts, I mean, the 787, could you describe on that one what gives you confidence now that you are so close? We've heard things before, optimism about a near restart. But this appears to be much more imminent now, I would guess, even though I know you're not going to try and predict the FAA's timing. So that's on the 787. And when you go over to the MAX, you've taken that number down into the low 400s. Can you talk about what you need out of that MAX profile to be on this positive cash flow time frame - timing? And then what's the split between stored and new production? So a lot of things there but all in that positive free cash flow objective. David L. Calhoun - President and Chief Executive Officer Yes, Doug. So why don't I start with 87 predictability? So like we said and like you acknowledged, we can't give you a date. But what we do track is all the work, any issues that the - both teams have wrestled with over this time. And we are approaching closure on all of that. The number of documents, the number of analyses, the number of sign-offs has progressed at a fairly rapid rate here toward the close. So we see that documentation phase, which has been a lion's share of the phase, as closing relatively soon and then, therefore, the readiness of airplanes, which we have been working on at exactly the same moments simultaneously, has also been in shape to the point where customers are climbing around the airplanes and making certain that they are also ready for delivery and acceptance. So all that's coming together. And yes, the FAA remains in control, but there's just enough workload on sort of both fronts, readiness of the airplane and the documentation and certification requirement that we just feel like we're on the verge and are reasonably confident in that front. So that's why I feel different this time. And I will acknowledge, Doug, that we have felt like it was at near term in previous periods, but not with the same level of due diligence that I feel now. On the MAX delivery front, let me turn it over to Brian. He's got all the numbers. Brian West - Chief Financial Officer, Executive Vice President, Finance Yes. So thanks, Doug. So the low 400s, we think the balance of the year, we'll satisfy the cash flow requirements to do their fair share of that total picture. So we think that's pretty well aligned. In terms of what's coming out of inventory versus the production line, our biggest objective on both fronts is to do both in a stable manner. And as you can see from our numbers, we've been doing about 10-ish out of storage this last quarter. We continue to get a little bit better on that front. So that's something that we're going to work hard on as we turn the corner in the second half of the year. So both are very important and doing both in a stable, predictable manner, gets to that low 400 for the year. I will also indicate there's three really other important levers of the cash flows in the back half as a bridge from the first half. You mentioned the big two, the 37 and the 87 deliveries. But there's also going to be favorability, timing from BDS receipts that will work to our favor. There'll be favorability of expense timing that will accrue to us. And there will be higher order activity in advanced payments, particularly driven by the 777 adjustments that we made last quarter. Remember, we added metal wing capacity and the launch of the 777 times freighter version. And all of those benefits are going to manifest themselves in helping the cash trajectory in the second half versus the first half. So those are the big pieces that we think about. Doug Harned - Bernstein - Analyst Okay. Very good. Thank you Operator Next, we'll go to Rob Spingarn with Melius Research. Rob Spingarn - Melius Research - Analyst Hey good morning. Dave, you opened with the supply chain and the troubles there. And I have a specific supply chain question and something more general on rates. Given your engine background from GE, how do we solve this casting shortfall that's now plagued the industry twice in recent years, both now and I want to say around 2018? Is this a short-term cyclical issue? Or is there a greater structural problem? So that's the first question. The second question, Brian touched on '23 and the significance of the MAX and the 87 ramp. I wanted to see if you could boundary the MAX production rate on the low and high end perhaps with the trajectory perhaps with and without China. David L. Calhoun - President and Chief Executive Officer So let me discuss the engine-related. It is a very important issue to be resolved, and it is not yet resolved, that structural casting part of the puzzle. You may recall two or three meetings ago at this, I acknowledge that would eventually be the issue. And of course, it is. So that capacity is limited. It's not just about money, it's qualification. It's one of the toughest components inside the supply chain to ultimately get to a qualified status as well as just the sheer physical capacity to do it. So I do think we all have to moderate our rates to make sure that we are ahead of that. And I do think the work that we've done, unfortunately, our choice not to move up to 38 here as soon as we had originally predicted is honestly based on that constraint. But I do believe we're at a state now we're at 31, we're comfortable the industry can get there and maybe have already gotten there. And then we're going to watch as they qualify more capacity going forward to make - before we pull those rates up. So is it medium and long term? Somehow some way that constraint in my view in the next three to five years has to get solved itself. Some investment has to get made, and capacity has to expand for the engine suppliers to keep up with what I believe will be continued robust demand. So it may not be a satisfactory answer, but that is the reality of the world I've lived in for the last 20 years. So - and then with respect to the other parts of the question, I'll flip it over to Brian again. Brian West - Chief Financial Officer, Executive Vice President, Finance Yes. For rate, production rate, I wouldn't worry about China. As Dave - we've continually talked about, we enjoy a pretty robust demand market. And the China delivery and when that happens, it's separate from our ability to move rate given the other demand in the marketplace. So I think I separate those two. It's not a pacing item. Rob Spingarn - Melius Research - Analyst What does the trajectory look like? Brian West - Chief Financial Officer, Executive Vice President, Finance For? Rob Spingarn - Melius Research - Analyst For MAX production. So Dave just talked about 38. Do we know when that's going to happen? David L. Calhoun - President and Chief Executive Officer No, I'll answer that. The answer is I don't know when that will happen. Stability at 31 and then confidence that engine suppliers will have their castings in order and can predict a steady delivery at 38. That will then initiate us to say now it's 38. I don't want to get ahead of ourselves. Stability for me is still job one, and that's what we'll stay focused on. Do I think it will be better next year? Yes, but I don't know exactly when, and I don't want to get ahead of myself. Rob Spingarn - Melius Research - Analyst Okay. Thank you Operator Next, we go to Sheila Kahyaoglu with Jefferies. Sheila Kahyaoglu - Jefferies - Analyst Good morning David, Brian. Maybe if we could talk about commercial profitability. If we strip out the abnormal cost on the 87 as well as the 777, you're at 2.3% operating margins in the quarter with an average of 33 MAXs produced or delivered. So how do we think about how margins come back as maybe the 787 comes in, the supply chain pressures alleviate? How should we look on for the step-up of commercial operating margins? Brian West - Chief Financial Officer, Executive Vice President, Finance Yes. So in the short term, it will be a little bumpy as we start to roll out the 87s and continue to get confidence in our stability in 37s. But over time, when we get to a point where both are stable and operating where we expect them to, the margin rate is going to go up. I can't predict the number. I won't predict the number, but they are going to get better and better because we are going to be more predictably in a stable fashion to be able to deliver on both fronts. Anyway. Sheila Kahyaoglu - Jefferies - Analyst Great, right, Thank you very much. Operator And next, we'll go to Noah Poponak with Goldman Sachs. Noah Poponak - Goldman Sachs - Analyst Hi, good morning everyone. I'm just going to circle back to this MAX delivery discussion because it's a bit confusing. If I - depending on how you define low 400, if I subtract the first half from that and divide by six, it suggests the delivery pace would slow compared to what you did in June. And that's with a higher production rate. So the - suggests the inventory unwind is slowing. So why would that happen? And then just on this underlying rate, I mean, any supplier we talk to says they're kind of ready to go and just waiting for direction from you that they're not getting. The leasing companies are saying there's a narrow-body shortage. You have a competitor at a much higher rate. Is it - is your answer to Rob's question that it's just purely forgings and castings and otherwise, you'd be higher? It's a little hard to square the circle on all of those inputs. David Strauss - Barclays - Analyst Before Brian gets in the - it's never about any supplier. It's about one or two that surprised you one way or the other. And with respect to medium or longer-term rate increases or changes, yes, it does actually get down to that engine supplier, and it does get down to those castings. So we have to be confident that they are ready and that we can count on those deliveries. So anyway, that is the world we live in now. Brian West - Chief Financial Officer, Executive Vice President, Finance June, we're proud of the 43 that we're able to deliver. I want to caution everyone, as you remember, April was 28. May was 29. I just indicated that July is going to be a little light. So I don't want us to get ahead of ourselves in terms of taking the June rate and extrapolating it. That would be a mistake. Month in and month out, we're aiming at stability around 31. Some months might be a little lower, some months might be a little higher. When we look at the whole balance to go and the things we're watching, we feel comfortable in that low 400 number. And hopefully, it will be better, but that's right now we're squaring to. Noah Poponak - Goldman Sachs - Analyst How much lead time do you feel like you need to give the broader supply chain to break to that next higher rate whenever that is? David Strauss - Barclays - Analyst Well, first of all, we're doing our very best to be transparent, and we are always informing them that - when we get close. How much lead time? I don't know, three or four months if it's a formal designation. But I think they're all - like you said, I think a lot are prepared to get to those higher rates. But we need a few specific ones to be ready to get to those higher rates. And I - sorry to keep coming back to that, but that's really where it is. I think we have our eye squarely focused on the constraint that matters the most. And as that plays out, you'll probably know as fast as I do, and then we'll let that go to the rest of the market. I think the rest of the market will respond quickly. Noah Poponak - Goldman Sachs - Analyst Okay, helpful. I appreciate it. Operator And next, we'll go to David Strauss with Barclays. David Strauss - Barclays - Analyst THanks, good morning everyone. Dave, Brian, wanted to see if you could tell us how many roughly MAX - or sorry, 787 deliveries you're assuming for the rest of the year because it's pretty hard to kind of bridge the positive free cash flow for the year without assuming a fair amount of 787 deliveries in the last five months. That's my first question. And then the second question, you've talked about a meaningful improvement in free cash flow in '23. I just wanted to see if you could put some bounds around that? Are we talking a couple billion dollars? Or are we talking - the consensus right now is showing a $7 billion improvement in free cash flow next year. I want to see if that's within the realm of reason. Brian West - Chief Financial Officer, Executive Vice President, Finance Yes, sure. So your last question, can't wait for November to be able to give you more detail around that, and we'll wait until November. And then on your question on the 87 number, we're not going to give a number on that front. We want to get to one. And we're really excited to get to one as fast as we can. And once that plays out, we'll get more visibility. But it's a little too early to quantify that. Clearly, we've got an expectation that we're going to liquidate some 87s over the course of the second half, but I'm just a little cautious to stick a number out there. David Strauss - Barclays - Analyst All right. A quick follow-up. Dave, the IG audit that's going on with the FAA and the change in leadership there, you don't think that potentially holds up the 87 at all? David L. Calhoun - President and Chief Executive Officer I do not. I do not. And I've also asked that question many times. So I think we're in a good place. Again, I'm going to follow up just quickly with Brian's comment. We're not playing a game. We are working as hard as we can to get to stability in a tough environment. We chose that November meeting as a moment to sort of say, okay, where are we on stability, what is the framework for cash flow over the course of the next year. We're looking forward to that day and that meeting. And I think at that moment in time, a lot of these variables will have resolved themselves, and we can give you a much clearer view of what the future looks like. David Strauss - Barclays - Analyst Thank you very much. Operator And next question is from Seth Seifman with JPMorgan. Seth Seifman - JPMorgan - Analyst Thanks very much and good morning. I guess, Brian, when we look at the advanced balance of $52 billion, I think it's higher than it was at the end of 2018 when rates were significantly higher. And it sounds like you're telling us that, that balance is going to be even higher still but perhaps significantly by December 31. Does that ever come down at some point? How do we kind of think about where that goes from here? And Dave, when you say having some visibility on some of these big questions at the November meeting, does that include potentially MAX deliveries into China? Brian West - Chief Financial Officer, Executive Vice President, Finance So we - that balance did come down this quarter, and we do expect it to come down. It will. It will be the excess PDP burn down that will come down. But it gets offset by the benefit of incoming PDPs and order receipts. And we love that, right? There's a lever of our business that accrues to us. And the more we do that, the more we've got airplanes going to - and commitments and orders to our customers. So - but overall, the trajectory will have to fall quarter in, quarter out. It's hard to peg because of that accretive offset. Seth Seifman - JPMorgan - Analyst But if you had in your model at some point like a requirement that this had to - that there had to be some kind of $10-plus billion reduction in this balance at some point over time, is that just an incorrect understanding of how this all works? Brian West - Chief Financial Officer, Executive Vice President, Finance Well, I'm not going to comment on $10 billion. I do know that there has to be the burn down of the excess, and that will happen over time. And we do our best to try to isolate that as terms of our projections. On the other hand, the benefits of order volume is something that we benefit from as well. So it has been flattish over the last several quarters. It's been taking small chunks down, and we expect it to continue to come down. But I can't call it an order of magnitude of a $10 billion drop the way you're suggesting. There's just too many dynamics in there, and I'm reluctant to make those kind of statements. David L. Calhoun - President and Chief Executive Officer And then with respect to China in November, I will give you the update. You will probably be as up to speed every week between now and then as I am because it does require a bit of a thawing and geopolitical break between China and the U.S. So at any rate, in the meantime, we do deliver airplanes occasionally to China based on pure need. And those are mostly widebodies and mostly cargo. Seth Seifman - JPMorgan - Analyst Great. Thank you very much. Operator Next, we'll go to Cai von Rumohr with Cowen. Cai von Rumohr - Cowen - Analyst Yes. Thank you so much. So it looks like you produced on average 24 737s in the second quarter. How comfortable are you that you can kind of sustain an average of 31 per month? Because I know that you pause when you have to even though the indicated line rate is 31. And secondly, if you can, should we estimate your production plus taking 10 or 12 out of inventory to kind of get to what we assume for the production rate in the second half? Brian West - Chief Financial Officer, Executive Vice President, Finance So I'll take the second part of that. I think that reliably month in, month out, we'll aim at 31. Anywhere from 8, 10, 12 is the range on liquidity from inventory. It could be in that kind of mix. And that gets you to the low 400s for the total year is the way I would think about it. I don't think the pieces go much below eight coming from inventory, and I probably don't think we'd do better than 12 in any given month. But we will modulate between that and the production rates as we go into the back half of the year. David L. Calhoun - President and Chief Executive Officer And again, the average of 31 with respect to production is a clear objective of ours. Anything short of that will be disappointing. Our real objective though is to make that a stable rate in each of the months, and we're not there yet. So be careful to extrapolate any one month. Cai von Rumohr - Cowen - Analyst And you've made the point that demand is so strong. What will you have to see to make the decision to raise the rate from 31 per month? David L. Calhoun - President and Chief Executive Officer I'm going to get back to earlier questions. If I thought I had an engine supply, I'd do it today. Cai von Rumohr - Cowen - Analyst Thank you. Operator And next, we go to the line of Kristine Liwag with Morgan Stanley. Kristine Liwag - Morgan Stanley - Analyst Thanks and good morning guys. Dave, on the supply chain, how much will your mitigating actions cost in terms of higher labor costs or investments for internal fabrication or maybe even working capital for buffer stock? And also as a follow-up on the engine discussion earlier, what can you do to encourage investment casting suppliers to invest? David L. Calhoun - President and Chief Executive Officer Well, that's - well, I've been trying to encourage them for a very, very long time. Honestly, I think it's going to be, as is always the case, they're going to increase their margins. My guess is it will be considerable. I don't know all their contract timings and all their relationships with our engine suppliers. But you know how hard they're going to be working. And when those margins get to a point where everyone believes it's worth investing a significant amount of money, that's what they'll do. And I suspect that day will come. And I will encourage the industry in that way. And they're going to have to believe in our demand forecast, which, so far, I think we've been highly credible with respect to the long-term demand forecast for airplanes. So on the - on all those readiness questions and investments, we are - you're right to ask the question because we've said to everybody if you're in pursuit of predictability, then you have to invest in all those buffer stocks. And you have to stay ahead of this curve in every way that we possibly can. And I'd say it's marginally more investment-intensive, but not enough to honestly make that big a difference for us going forward, especially when you compare it to our investment in finished goods inventory, which right now is a bit of an all-time high. And I will also - we haven't talked about it, just mentioned to everybody that while none of us like how we got here, if you are faced with a bunch of supply constraints as a market over the next couple of years, having over 400 airplanes that are finished at your fingertips, and yes, they're hard to get out and get ready and back into the marketplace, is a pretty good buffer in and of itself and allows us to exercise a little extra discipline on the stability front as we begin to march up that curve over the next 18 months. So anyway, I don't want that to get lost as a buffer overall. Kristine Liwag - Morgan Stanley - Analyst Thanks Dave. Operator And next, we go to the line of Rich Safran with Seaport Research Partners. Rich Safran - Seaport Research Partners - Analyst Dave, Brian, Matt good morning.I'd like to shift the topic to defense for just a minute, your comments about stable global demand. Could you also comment on international demand in general for defense equipment? And maybe in your answer, also comment about additional demand for your tanker programs, the 46 and MQ-25? And the reason why I'm asking this is I believe both these programs had quite aspirations for international sales. So I thought maybe you'd comment on that as well. David L. Calhoun - President and Chief Executive Officer Yes. No, I appreciate the question. And we've been bullish on international opportunities. I am more bullish now than I was when I even began, and I was - again, I was optimistic there. And it is because of the world we see in front of us. It does take a couple of years to take the threats that are out there that manifest themselves into real orders and sort of long commitments. And I - but I suspect that's the way this world will turn here in the next couple of years. We had some early shore indications from those closest to the conflict. Our Chinook victory here came faster than maybe we would imagine. Why? Because our customer is right next to the front. So I am optimistic on the program specifically that you called out. They might be on the leading edge of that demand curve. But it's not going to happen in the next six months, and it's not going to - it will take us probably a year to get to where that demand begins to manifest into real orders. Rich Safran - Seaport Research Partners - Analyst Okay, thank you. Operator And we'll go to George Shapiro with Shapiro Research. George Shapiro - Shapiro Research - Analyst Thanks. Dave, I'm trying to figure out where all the strong demand is coming from because the way I look at it, air show orders were the weakest since 2009 for both you and Airbus. You were better, obviously, but still weaker since 2016. If domestic traffic returns to 2019 in 2023, then the same number of planes should be needed yet unless retirements really pick up to a level never before we've seen at 5% of the fleet versus the current 1.3, there's going to be 2,000 more planes than needed out there. So if you can kind of just reconcile where all the demand is coming from. David L. Calhoun - President and Chief Executive Officer Well, there are awful lot of irons in the fire. And like you, I try to compare and contrast how many irons in the fire now versus where they were. Certainly in the COVID period, significantly hotter. But even in that prior '19 world, there's just a lot of irons in the fire, and there's already a concern about supply constraints. So you know what that mix ends up doing. And then I will just add to that puzzle. You know the sustainability constraints. And while you may be skeptical and maybe I am too about renewal or taking airplanes out of service, I think that day is on us. And I think that's going to be real in the years ahead. You'd be surprised how many of the orders, particularly in the mature markets like Europe, etc., where that is the discussion more than any other, which is we need to improve the sustainability performance of our fleets otherwise, we're going to lose ground. I will point, if you don't mind, to a tool we introduced at the show called Cascade, which is a measure of emissions for every airplane every day for everybody. And it's meant to be an open tool for the industry to use, think about policy changes and all those things that are going to incent the renewal of fleets and the improvement on this front. That tool is a tool that we'll show you in our November meeting, and it's one I hope you'll use because I do think that changes the - that rate of retirement in a pretty big way. George Shapiro - Shapiro Research - Analyst Yes. Because, I mean, you really got to get a level we've never seen before to get these 2,000 planes out. And I mean if I even just look at Delta and your recent order with Delta, they're not taking the MAX 10 till 2025. Right now, they've got 65 [Indecipherable] that are over 25 years old. David L. Calhoun - President and Chief Executive Officer Yes. No, exactly. But those 25-year-olds, I believe the pressure on this will not subside. It will grow, and policies will get written. I think our trick here, honestly speaking, for the industry for a moment and as you get familiar with the tool that I'm referring to and think about this, our trick is to make sure that policy with respect to the environmental and sustainability performance of the aviation fleet does not get so far ahead of the industry that it stopped the music. We've seen that happen in the energy world a little bit. I don't want to see that happen in the aviation world. So that's why this tool is important to us. Incent the retirement of some of the old, less efficient airplanes. And yes, that's good for us and good for the industry, but also educate the policymakers so they don't get so far ahead that it begins to constrain the industry's growth. George Shapiro - Shapiro Research - Analyst And how do you think increasing recession concerns affect this? You would think there'd be less retirements then? David L. Calhoun - President and Chief Executive Officer Well, so far, I'm not sure I can draw the correlation all the way to retirement, but I - this general recession thing so far hasn't impacted our aviation industry. Will it at some moment? Maybe. Price elasticity has been remarkable as I look at things. And demand for air travel, I think, has been prioritized fundamentally to a higher slot in the consumers' list of priorities. So anyway, I'm not smart enough to draw a perfect line between one and the other, but I believe that the retirement world is going to change in a pretty big way. George Shapiro - Shapiro Research - Analyst Okay. thanks very much for the color. Matt Welch - Vice President of Investor Relations All right. Thank you, everyone, for joining us this morning. This completes our second quarter 2022 earnings call. Source : AlphaStreet Jul 30, 2022: Union preparing to go into mediation with Boeing to try to avoid a strike ST. LOUIS - The union representing nearly 2,500 workers at Boeing Co. plants in the St. Louis area said Friday it was preparing to go into mediation with the aerospace company to try to avoid a strike. "The company was putting stuff on the shop floor that they had reached out to the union and we had not reached back," which was untrue, said Jody Bennett, chief of staff of the International Association of Machinists and Aerospace Workers. "I called the mediator and said, 'hey, we're prepared to mediate to try to reach an equitable agreement and try to prevent a work stoppage,' " Bennett added. About three hours after that phone call, Bennett said he was told that Boeing was willing to meet. Boeing didn't immediately return a message seeking comment. Federal Mediation and Conciliation Services would preside at the talks, Bennett said. A mediator in St. Louis declined comment. Members of International Association of Machinists and Aerospace Workers District 837 voted July 24 to strike the Boeing Co. (NYSE: BA) in the St. Louis area, starting Monday. IAM District 837 said the aerospace company "previously took away a pension from our members, and now the company is unwilling to adequately compensate our members' 401(k) plan." Boeing rejected that contention, pointing out the union voted to do away with the defined-benefit plan when it ratified its last contract in 2014. Also, the 401(k) plan offered to the union last week is the same one for all of its non-union employees, the company said. The dispute is rooted in the decades-old effort of large companies to replace traditional defined benefit plans, which typically provide a specified monthly benefit at retirement, with 401(k) retirement savings plans, which don't provide a set amount and can be subject to stock market volatility. Retirement issues are making negotiations with unions more volatile as big companies like Boeing - which phased out defined benefit plans about eight years ago - propose changes in contributions to 401(k) plans and matching amounts, said Bob Bruno, a professor of labor and employment at the University of Illinois Urbana-Champaign. "The 401(k) is an insecure retirement plan. It's predicated on what the stock market and investments are at the point you retire. There's far more risk in a plan like this and it's harder to bargain. You're going to have conflicting views as to how good of a plan it is," said Bruno, who also is director of the university's Labor Studies program. Starting in the late 1970s, U.S. companies replaced traditional pensions for 401(k) plans, which cut long-term costs and shifted the risk of market volatility to their employees. "It's a common theme in the defense industry," said George Shapiro, managing partner of a New Jersey-based research firm who has tracked the aerospace industry for decades. "The whole purpose of the 401(k) is it puts more of the onus on the individual as opposed to guaranteeing a benefit that Boeing has to fund over a long period of time. So Boeing certainly would be generous in terms of 401(k) contributions." Of public and private sector employees with workplace retirement plans, about 66% solely have defined-contribution plans such as 401(k)s. Those with defined benefit plans consists of 16% of workers, and 18% have both types of plans, according to the Employee Benefit Research Institute, a nonprofit group based in Washington, D.C. The union said in Boeing's latest three-year contract offer, the company proposed reducing its percentage of contribution to the 401(k) plan from 4% to 2% in each of 2023 and 2024 and then stop making automatic contributions. The offer also included Boeing matching dollar-for-dollar up to 10% of base and incentive pay. Boeing said it has provided a 75% match of the first 8% that employees put into their 401(k). Bruno said a central question is why the machinists union is mobilized now over the retirement issue. "Is it a younger workforce that now has come to depend on these 401s, but now they're feeling insecure and that's combining with a more senior workforce who always thought the defined plans were best?" he asked. Bennett, of the machinists union, said Friday: "(Boeing) stole defined benefit. Now they're trying to steal the automatic contribution to the 401(k) and put the onus on retirement on the members." Source: KSDK Jul 30, 2022: Boeing Has Bottomed. It Could Recover Quickly. The Boeing BA +0.1% Company's second-quarter results were a mixed bag. Year-over-year, revenues were flat, earnings were weaker, cash flow was stronger. A casual observer could easily conclude that the nation's biggest aerospace enterprise has spent the last year moving sideways, despite CEO David Calhoun's assertion that "We made important progress across key programs in the second quarter and are building momentum in our turnaround." Much of the investment community responded with characteristic impatience, but that's what you expect when you are in a long-cycle business dealing with people who live and die based on the latest quarter. A look behind the numbers suggests that Calhoun is right, and that Boeing's road back from one of the toughest periods in its 106-year history may not take as long as some analysts expect. It's not as though setbacks are anything new for the company. When World War Two ended, Boeing's vast defense workforce shrunk by 90%. A generation later, its commercial workforce shrunk by 75% due to a Nixon-era recession. Thus when Boeing observes on its website that the aerospace industry is resilient, it knows of whence it speaks. The company is a longtime contributor to my think tank, so this isn't the first rough patch I have watched it overcome. MORE FOR YOU American Airlines Pilots Say Operations Managers Must Go After Summer Breakdowns The U.S. Air Force Is Gradually Rebuilding Its B-52 Bombers From The Rivets Out An American Bomber Visited Malaysia. A Bizarre Mix Of Local Jets Rose To Meet It. Nobody ever claimed that recovery from twin crashes and grounding of its most important product would be linear. Nor was it likely that the aerospace sector would simply bounce back to normalcy from a global pandemic. Competitor Airbus is learning the same lessons about the fragility of supply chains that Boeing is. But the ValueLine investment survey estimates that Boeing will be back to $100 billion in annual revenues by mid-decade, a number the company has only managed to top once in its history-2018, the year the first 737 Max crashed in Indonesia. Source: Forbes Jul 28, 2022: Boeing takes another Starliner charge against its earnings WASHINGTON - Boeing said July 27 it will take another charge against its earnings because of the CST-100 Starliner commercial crew program as the company and NASA get closer to a first flight of the vehicle with astronauts on board. Boeing, in its second quarter financial results release, said it recorded a $93 million charge in the quarter from its commercial crew program, "driven by launch manifest updates and additional costs associated with OFT-2," the second uncrewed test flight of the vehicle that took place in May. The company did not elaborate on the specific issues that caused the charge, and only briefly mentioned the program during an earnings call with financial analysts dominated by the company's commercial airliner programs. "It was important. It was an emotional 'up' for all of us at Boeing to get back on track," David Calhoun, president and chief executive of Boeing, said in the call, referring to the OFT-2 test. He later called the mission "a pivotal and emotional test for The Boeing Company and we feel good about it and we're ready for the crewed flight." Boeing has now recorded $688 million in charges related to development of Starliner. The company took a $410 million charge in January 2020, a month after the original and unsuccessful Orbital Flight Test mission, to cover the costs of investigating the problems and flying a second mission. The company took an additional $185 million charge against earnings in October 2021 after a valve problem delayed the OFT-2 launch last August. The six-day OFT-2 mission in May, though, was largely successful, with no major issues reported during the spacecraft's launch, docking with the International Space Station and return to Earth. That leaves open the possibility of proceeding with Starliner's first flight with astronauts on board, called the Crew Test Flight (CFT), before the end of the year. "You saw the Starliner dock with the ISS, setting the stage for the Crew Flight Test later this year and achieving the domestic redundancy that is so important to the ISS mission," John Mulholland, vice president and program manager for the ISS at Boeing, said in remarks July 26 at the ISS Research and Development Conference here. NASA announced June 16 that CFT will fly two astronauts, Suni Williams and Butch Wilmore, rather than the three originally planned to fly the mission. Williams was moved up to CFT from Starliner-1, the first operational Starliner mission. Nicole Mann, who has originally been assigned to CFT, was reassigned last year to SpaceX's Crew-5 mission launching in September. Mike Fincke, also previously assigned to CFT, will train as a backup for CFT and be available for future flight assignments. The CFT mission, NASA announced then, will last two weeks after earlier proposing to keep it at the station for up to six months. A two-week mission, the agency said, "is sufficient to meet all NASA and Boeing test objectives for CFT," and a longer stay is not needed since Crew Dragon is now handling crew rotation missions. If CFT is successful, Starliner could start operational missions as soon as the fall of 2023, after the SpaceX Crew-6 mission launching in the spring of 2023. That will be the first of six missions under its Commercial Crew Transportation Capabilities, or CCtCap, contract awarded in 2014. NASA has already added three flights to the six awarded to SpaceX under its own CCtCap contact, and announced June 1 its intent to add five more. Source: SpaceNews Jul 28, 2022: The Boeing Co. Reports Fall In Q2 Profit (RTTNews) - The Boeing Co. (BA) reported earnings for second quarter that decreased from last year The company's bottom line totaled $193 million, or $0.32 per share. This compares with $587 million, or $1.00 per share, in last year's second quarter. The company's revenue for the quarter fell 1.9% to $16.68 billion from $17.00 billion last year. The Boeing Co. earnings at a glance (GAAP) : -Earnings (Q2): $193 Mln. vs. $587 Mln. last year. -EPS (Q2): $0.32 vs. $1.00 last year. -Revenue (Q2): $16.68 Bln vs. $17.00 Bln last year. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Source: Nasdaq Jul 28, 2022: Boeing (BA) Q2 2022 Earnings Call Transcript Prepared Remarks: Operator Thank you for standing by. Good day, everyone, and welcome to The Boeing Company's second quarter 2022 earnings conference call. Today's call is being recorded. The management discussion and slide presentation plus the analyst question-and-answer session are being broadcast live over the Internet. [Operator instructions] At this time, for opening remarks and introductions, I'm turning the call over to Mr. Matt Welch, vice president of investor relations for The Boeing Company. Mr. Welch, please go ahead. Source: The Motley Fool Jul 28, 2022: Boeing Reports Second-Quarter Results Second Quarter 2022 Operating cash flow of $0.1 billion; continue to expect positive free cash flow for 2022 Increased 737 production to 31 per month; working with FAA on final actions to resume 787 deliveries Successfully completed CST-100 Starliner uncrewed Orbital Flight Test-2 (OFT-2) Revenue of $16.7 billion; GAAP earnings per share of $0.32 and core (non-GAAP)* loss per share of ($0.37) Total backlog of $372 billion; including over 4,200 commercial airplanes The Boeing Company (NYSE: BA) reported second-quarter revenue of $16.7 billion, GAAP earnings per share of $0.32 and core loss per share (non-GAAP)* of ($0.37), driven by lower defense volume and unfavorable performance, partially offset by higher commercial volume (Table 1). Boeing recorded positive operating cash flow of $0.1 billion. "We made important progress across key programs in the second quarter and are building momentum in our turnaround," said Dave Calhoun, Boeing President and Chief Executive Officer. "As we begin to hit key milestones, we were able to generate positive operating cash flow this quarter and remain on track to achieve positive free cash flow for 2022. While we are making meaningful progress, we have more work ahead. We will stay focused on safety, quality and transparency, as we drive stability, improve performance, and continue to invest in our future." Cash and investments in marketable securities decreased to $11.4 billion, compared to $12.3 billion at the beginning of the quarter, primarily driven by debt repayment (Table 3). The company has access to credit facilities of $14.7 billion which remain undrawn. Total company backlog at quarter-end was $372 billion. Commercial Airplanes second-quarter revenue increased to $6.2 billion, driven by higher 737 deliveries, partially offset by lower 787 deliveries (Table 4). Operating margin of (3.9)% also reflects abnormal costs and period expenses, including higher R&D expense. Boeing has nearly completed the global safe return to service of the 737 MAX and the fleet has flown more than 1.5 million total flight hours since late 2020. The 737 production rate increased to 31 airplanes per month during the quarter. On the 787 program, the company continues to work with the FAA to finalize actions to resume deliveries and is readying airplanes for delivery. The program is producing at a very low rate and will continue to do so until deliveries resume, with an expected gradual return to five per month over time. The company still anticipates 787 abnormal costs of approximately $2 billion, with most being incurred by the end of 2023, including $283 million recorded in the quarter. Commercial Airplanes secured orders for 169 737 MAX airplanes and 13 freighters, including seven 777-8 Freighters from Lufthansa Group. Commercial Airplanes delivered 121 airplanes during the quarter and backlog included over 4,200 airplanes valued at $297 billion. Defense, Space & Security second-quarter revenue decreased to $6.2 billion and second-quarter operating margin decreased to 1.1 percent, primarily driven by charges on fixed-price development programs, including MQ-25 and Commercial Crew, as well as unfavorable performance on other programs and lower volume on derivative aircraft programs. The MQ-25 program recorded a $147 million charge primarily due to higher costs to meet certain technical requirements. The Commercial Crew program also recorded a $93 million charge, primarily driven by launch manifest updates and additional costs associated with OFT-2. During the quarter, the CH-47F Chinook Block II was selected as the German government's future heavy-lift helicopter. Defense, Space & Security also successfully completed the CST-100 Starliner uncrewed OFT-2. Backlog at Defense, Space & Security was $55 billion, of which 33% percent represents orders from customers outside the U.S. Source: PR Newswire Jul 28, 2022: Boeing Reports Second-Quarter Results The Boeing Company (NYSE: BA) reported second-quarter revenue of $16.7 billion, GAAP earnings per share of $0.32 and core loss per share (non-GAAP)* of ($0.37), driven by lower defense volume and unfavorable performance, partially offset by higher commercial volume (Table 1). Boeing recorded positive operating cash flow of $0.1 billion. "We made important progress across key programs in the second quarter and are building momentum in our turnaround," said Dave Calhoun, Boeing President and Chief Executive Officer. "As we begin to hit key milestones, we were able to generate positive operating cash flow this quarter and remain on track to achieve positive free cash flow for 2022. While we are making meaningful progress, we have more work ahead. We will stay focused on safety, quality and transparency, as we drive stability, improve performance, and continue to invest in our future." Source: Boeing Media Room Jul 28, 2022: Momentum Reversal? The Boeing Company's Heads Up for the First Time in 3 Days The Hourly View for The Boeing Company At the time of this writing, BA's price is down $-0.46 (-0.29%) from the hour prior. The hourly chart shows that The Boeing Company has seen 2 straight down hours. If you're a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment - meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The Daily View for The Boeing Company At the time of this writing, BA's price is up $3.7 (2.38%) from the day prior. This move is a reversal from the day prior, which saw price move down. If you're a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment - meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. Divergence between BA's price and its RSI may be manifesting. As such, be on the lookout for trend reversal in BA's price. Featured The Boeing Company Idea From TradingView Below is a trading comment entitled BTCUSD Short Term TA! you may find interesting: Goodday fellow traders,Have to update short term analysis. Looks like the previous short term pattern is evolving into a rising broadening wedge, which has a higher probability of breaking bearish. So hopefully price will just retest the support. Head back up again. Unfortunately there is a bigger chance of breaking bearish retesting older support lines. Approx. the 17,5k - 14k region. Source: CFDTrading Jul 27, 2022: Boeing moves ahead on installing sensors and weapons aboard Orca extra-large unmanned underwater vehicles Undersea warfare experts at the Boeing Co. are moving forward with a project to integrate an advanced undersea payload-delivery system aboard the company's Orca extra-large unmanned underwater vehicle (XLUUV) under terms of a $8.5 million order announced Tuesday. Officials of the U.S. Defense Advanced Research Projects Agency (DARPA) in Arlington, Va., are asking the Boeing Defense, Space & Security segment in Huntington Beach, Calif., for option three of the second phase of the DARPA Hunter program. The Hunter program involves only developing and integrating the payload-delivery system, and not the extra-large UUV itself. DARPA Hunter for unmanned submarines payloads is in three phases: the first to design and build the payload-delivery device to fit inside a government-provided payload module; and the second and third phases to support integration of the payload-delivery device into the big UUV for testing. Technical details of the Hunter program are classified. The Northrop Grumman Mission Systems segment in Linthicum Heights, Md., is in charge of developing the payload-delivery system, which Boeing is integrating aboard the company's Orca extra-large UUV. Related: Unmanned ground vehicle for mounting sensors, weapons, and intelligence introduced by Elbit and Roboteam Northrop Grumman won a $9.9 million DARPA Hunter phase-two order in June 2019. Two years before that, the company won a $5.8 million Hunter phase-one contract. Northrop Grumman and Boeing are integrating the XLUUV payload-delivery system aboard the Boeing Orca for persistent-surveillance sensors, and to deploy weapons, other UUVs, and unmanned aerial vehicles (UAVs). The Boeing Co. Defense, Space & Security segment in Huntington Beach, Calif., won a $43 million order in February 2019 from U.S. Naval Sea Systems Command in Washington to build four Orca XLUUVs that could undertake long-endurance missions to deploy sensors or other UUVs. Related: Unmanned submarines seen as key to dominating the world's oceans Extra-large UUVs and their weapons and sensors typically are autonomous mini-submarines that measure about seven feet in diameter -- sometimes larger. They are designed for launch from shore, from large military ships with well decks, or from large civil vessels with moon pools. One of the U.S. military research projects that have led to the Boeing Orca XLUUV and the Northrop Grumman Hunter XLUUV payload-delivery system has been the Large Displacement Unmanned Undersea Vehicle (LDUUV) of the U.S. Office of Naval Research (ONR) in Arlington, Va. On this contract Boeing will do the work in Huntington Beach, Calif., and should be finished by March 2023. This order brings the total value of the contract to $36.8 million. For more information contact Northrop Grumman Mission Systems online at www.northropgrumman.com, Boeing Defense, Space & Security at www.boeing.com/company/about-bds, or DARPA at www.darpa.mil. Source: Military & Aerospace Electronics Jul 27, 2022: Boeing (BA) Q2 Earnings Miss Estimates, Revenues Decline Y/Y The Boeing Company BA incurred an adjusted loss of 37 cents per share for second-quarter 2022, much wider than the Zacks Consensus Estimate of a loss of 8 cents. The bottom line also deteriorated from the year-ago quarter's earnings of 40 cents. Including one-time items, the company posted GAAP earnings of 32 cents per share compared with $1 reported in the second quarter of 2021. The year-over-year downside is attributable to lower defense volume and unfavorable performance. Revenues Apple, Tesla shares pop after stock splits In the quarter under review, Boeing's revenues amounted to $16.68 billion, which missed the Zacks Consensus Estimate of $17.74 billion by 6%. The top line also declined 2% from the year-ago quarter's figure of $16.99 billion. This decline was due to lower year-over-year revenues registered by the company's Defense, Space & Security business units. Total Backlog Backlog at the end of second-quarter 2022 increased to $371.73 billion from $370.84 billion at the end of first-quarter 2022. Segmental Performances Commercial Airplane: Revenues at this segment increased 3% year over year to $6.22 billion, driven by higher 737 deliveries. The segment incurred an operating loss of $242 million compared with a loss of $472 million in the year-ago quarter. Boeing delivered 121 commercial planes during the quarter under review, up 53% year over year. Backlog for this segment remained healthy with over 4,200 airplanes valued at $297 billion. Boeing Defense, Space & Security (BDS): This segment recorded revenues worth $6.19 billion in the second quarter, reflecting a year-over-year decline of 10%, primarily on account of charges on fixed-price development programs, including MQ-25 and Commercial Crew, as well as unfavorable performance on other programs and lower volume on derivative aircraft program. Meanwhile, this unit generated an operating profit of $71 million compared with an operating income of $958 million in the year-ago quarter. Backlog at BDS was $55 billion, 33% of which comprised orders from international clients. Global Services: Revenues at this segment improved 6% to $4.30 billion on account of higher commercial services volume and favorable mix. This unit generated an operating income of $728 million compared with $531 million in the year-ago quarter. Boeing Capital Corporation (BCC): This segment reported quarterly revenues of $52 million compared with $78 million in the year-ago quarter. At the end of second-quarter 2022, BCC's portfolio balance was $1.6 billion. Financial Condition Boeing exited second-quarter 2022 with cash and cash equivalents of $10.09 billion and short-term and other investments of $1.36 billion. At the end of 2021, the company had $8.05 billion of cash and cash equivalents and $8.19 billion of short-term and other investments. Long-term debt amounted to $51.79 billion at the end of second-quarter 2022, down from $56.81 billion at 2021 end. The company's operating cash outflow as of Jun 30, 2022 was $3.14 billion compared with $3.87 billion at the end of second-quarter 2021. Free cash outflow totaled $3.75 billion at the end of second-quarter 2022 compared with $4.38 billion at the end of second-quarter 2021. Zacks Rank Boeing currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Recent Defense Releases Lockheed Martin Corporation LMT reported second-quarter 2022 earnings of $6.32 per share, which surpassed the Zacks Consensus Estimate of $6.29 by 0.5%. The bottom line however declined 1.6% year over year. The company's net sales amounted to $15.45 billion, which missed the Zacks Consensus Estimate of $16.16 billion by 4.4%. The top line also declined 9.3% from $17.03 billion reported in the year-ago quarter. Hexcel Corporation HXL reported second-quarter 2022 adjusted earnings of 33 cents per share, which exceeded the Zacks Consensus Estimate of 30 cents by 10%. The company's net sales totaled $393 million, which beat the Zacks Consensus Estimate of $383 million by 2.6%. Moreover, the top line witnessed an improvement of 22.7% from the year-ago quarter's $320.3 million. AAR Corp. AIR reported fourth-quarter fiscal 2022 adjusted earnings of 72 cents per share, which surpassed the Zacks Consensus Estimate of 68 cents by 5.9%. Earnings recorded a solid surge of 53.2% from the year-ago quarter. In the quarter under review, AAR generated net sales worth $476.1 million. The reported figure surpassed the Zacks Consensus Estimate of $468 million by 1.7% and also improved 8.8% from $437.6 million recorded in the year-ago quarter. Just Released: Zacks Top 10 Stocks for 2022 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022? From inception in 2012 through 2021, the Zacks Top 10 Stocks portfolios gained an impressive +1,001.2% versus the S&P 500's +348.7%. Now our Director of Research has combed through 4,000 companies covered by the Zacks Rank and has handpicked the best 10 tickers to buy and hold. Don't miss your chance to get in because the sooner you do, the more upside you stand to grab. Source: Nasdaq Jul 27, 2022: Boeing reports Q2 profit but misses Wall Street expectations Boeing Co. reported a smaller second-quarter profit that fell short of Wall Street expectations as its defense business weakened and it remained unable to deliver any of its 787 Dreamliner planes. The giant aircraft manufacturer reported a profit of $193 million Wednesday, down 67% from the second quarter of last year, on a 2% drop in revenue. Boeing generated more cash than in the first quarter by delivering more planes than it has since the start of the pandemic, and it sold more services to airlines and other airplane operators. However, Boeing remained unable to deliver one of its best-selling planes, the 787, while regulators review steps the company is taking to eliminate production problems. Boeing is also faced with the threat of a strike Monday by about 2,500 workers at three of its defense plants in Missouri and Illinois. The machinists' union is asking for increases in wages and retirement benefits after, it says, Boeing took away a pension plan. CEO David Calhoun said on CNBC that Boeing will continue to talk to the union and that a strike would delay deliveries to the Pentagon, although he did not give details. Revenue from Boeing's normally steady defense business fell 10% in the second quarter compared with a year earlier, and the company took charges totaling $240 million for an unmanned refueling plane being developed for the Navy and its Starliner spacecraft, which is designed to ferry crews to the International Space Station. A Boeing spokesman said the charge for the Starliner was unrelated to the announcement Tuesday by Russia's top space official that his country will pull out of the ISS program after 2024 and build its own orbiting station. Calhoun, who became CEO as Boeing's financial situation worsened following two deadly of Max jets, said the results showed that "we are building momentum in our turnaround" while acknowledging that "it has been a long road." In a note to employees, Calhoun highlighted an increase in the number of 737 Max jets rolling off the assembly line - 31 a month, although that figure could fluctuate. He also said Boeing "is in the final stages" of working with the Federal Aviation Administration to resume deliveries of the larger, two-aisle 787. Second-quarter net income was $160 million, but the gain attributable to shareholders was $193 million. That was down from $587 million a year earlier. Excluding adjustments for retirement plan expenses and other special items, the company lost 37 cents per share. Analysts expected an adjusted loss of 13 cents per share, according to FactSet. Total revenue slipped 2% to $16.68 billion, falling short of Wall Street's forecast of $17.57 billion, despite an increase in airliner deliveries to 121 planes from 79 a year earlier. Boeing gets much of the purchase price upon delivery. Shares of Boeing, based in Arlington, Virginia, rose 3% in morning trading Wednesday. Source: Baltimore Sun Jul 26, 2022: Poor Defense Deliveries to Hurt Boeing (BA) in Q2 Earnings The Boeing Company's BA Defense, Space & Security (BDS) segment is likely to have recorded dismal revenues in second-quarter 2022, courtesy of lower deliveries of the company's defense products. The quarterly backlog count is however expected to reflect solid figures. Boeing's second-quarter 2022 results are scheduled to be released on Jul 27. Click here to know how the company's overall Q2 performance is expected to be. Steady Order Flow to Aid Backlog With the U.S. administration spending significantly on the nation's defense for the past couple of years, Boeing's defense and space unit has been witnessing solid order flow from the Pentagon, NASA and Congress for its varied products. This, in turn, has been consistently boosting the BDS unit's backlogs. Amid the uncertainties caused by the COVID-19 pandemic, the defense market has been relatively stable. Boeing has been witnessing solid, global demand for its major combat programs, which translated into an overall order value of $5 billion for the BDS unit in the first quarter of 2022. We expect the upcoming results to duly reflect a similar order count in terms of a solid backlog figure for the BDS unit. Poor Deliveries Hurt Q2 Performance Boeing's second-quarter 2022 defense delivery figures reflected a decline of 7% from the year-ago period. In the quarter, its defense deliveries totaled 40, down from 43 in the year-ago period. Such dismal delivery figures are expected to have hurt the defense segment's revenues in the soon-to-be-reported quarter. Notably, the Zacks Consensus Estimate for the company's defense unit revenues, pegged at $6,519 million, indicates a decline of 5.2% from the year-ago quarter's reported figure. Earnings Prospects Along with lower delivery volumes for its defense products, charges for impacts of the war in Ukraine might have had an adverse impact on the segment's overall operating performance. This in turn might have hurt its quarterly earnings. Further, supply chain constraints are projected to have hampered second-quarter earnings for the BDS unit. Notably, the Zacks Consensus Estimate for the company's defense unit earnings, pegged at $490 million, indicates a significant decline of 48.9% from the year-ago quarter's reported figure. What the Zacks Model Unveils According to the Zacks model, the combination of two key ingredients - a positive Earnings ESP and a Zacks Rank #3 (Hold) or better - increases the odds of an earnings surprise. Boeing has an Earnings ESP of -62.40% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter. Stocks to Consider Here are some other defense companies you may want to consider as these also have the right combination of elements to post an earnings beat in their upcoming releases: L3Harris Technologies LHX: It is scheduled to release its second-quarter results on Jul 28. LHX holds a Zacks Rank #3 and has an Earnings ESP of 0.95%. You can see the complete list of today's Zacks #1 Rank stocks here. LHX delivered a four-quarter average earnings surprise of 2.32%. The Zacks Consensus Estimate for L3Harris' second-quarter earnings, pegged at $3.16, has moved up 0.3% over the past seven days. Spire Global, Inc. SPIR: It has an Earnings ESP of +9.43% and a Zacks Rank #3. The company is scheduled to release its second-quarter results on Aug 10. Spire delivered an earnings surprise of 7.7% in the last reported quarter. The Zacks Consensus Estimate for Spire's second-quarter sales is pegged at $18.93 billion. CAE Inc CAE: The company is expected to release its fiscal first-quarter results soon. It holds a Zacks Rank #3 and has an Earnings ESP of +2.27%. The Zacks Consensus Estimate for CAE's fiscal first-quarter earnings, pegged at 18 cents, has remained unchanged over the past seven days. CAE delivered a four-quarter average earnings surprise of 7.67%. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Source: Nasdaq Jul 26, 2022: Boeing forecasts demand for 2.1mn new commercial aviation personnel over 20 yrs Chicago, July 26 (IANS) US aerospace major Boeing (NYSE: BA )'s 2022 Pilot and Technician Outlook forecasts demand for 2.1 million new aviation personnel over the next 20 years to safely support the recovery in commercial air travel and meet rising long-term growth. The company said on Monday that the long-term forecast shows that 602,000 pilots, 610,000 maintenance technicians and 899,000 cabin crew members will be needed to support the global commercial fleet over the next two decades, reports Xinhua news agency. The worldwide fleet is expected to nearly double and grows to 47,080 airplanes by 2041, according to Boeing's recently released Commercial Market Outlook. This year's Pilot and Technician Outlook represents a 3.4 per cent increase from 2021. China, Europe and North America represent over half of the total new personnel demand. The fastest growing regions are Africa, Southeast Asia and South Asia, with all three regions expected to grow more than 4 per cent over the forecast period. "As the commercial aviation industry recovers from the pandemic and plans for long-term growth, we anticipate a steady and increasing demand for aviation personnel, as well as the ongoing need for highly effective training," said Chris Broom, vice president of Commercial Training Solutions, Boeing Global Services. Source: Investing.com Jul 26, 2022: Boeing Launches 'Twin Attack' On Dassault Rafales With F-15EX & Super Hornets; Aims To Seize IAF, Navy Deals Some of the world's best fighter jets are competing neck-to-neck to seize Indian Air Force and Navy deals. Two firms, American Boeing and French Dassault Aviation are headed in direct competition as Super Hornets are challenging Rafale-M for the Indian Navy deal, and F-15EX (Eagles-II) are being offered at 'irresistible' rates to the Air Force. Turkey 'Shortlists' Rafale Fighters For Its Air Force As US Congress Unlikely To Clear F-16 Sales - Top Commander Boeing recently released a press release announcing the successful completion of its F/A-18 Super Hornet's operational demonstration tests at Indian Naval Station Hansa in Goa, India, to demonstrate its capability for aircraft carrier operations. F-18 Super Hornet is competing with the French Dassault Aviation's Rafale-Marine (M) for the Indian Navy's contract for multi-role naval fighters for its newly developed aircraft carrier, INS Vikrant, which is scheduled to be commissioned by August 15 of this year, coinciding with the 75th year of Indian Independence. The Indian Navy wants to acquire a twin-engine aircraft to replace the existing MiG-29Ks currently being operated from INS Vikramaditya and enter into a government-to-government contract with either the US or French government for the purchase of over two dozen fighter aircraft. As EurAsian Times reported earlier this month, the Indian Navy has already announced the completion of operational demonstrations of the Super Hornet and Rafale-M. It is now awaiting a final report on the performance of the two aircraft, which could reportedly take two months to prepare. Boeing's F/A-18 Super Hornet is undergoing operational demonstration tests at Indian Naval Station Hansa in Goa, India (Indian Navy) The two fighters carried out ski-jumps - a crucial take-off capability - from the shore-based test facility at INS Hansa in Goa to demonstrate their ability to operate from Indian aircraft carriers that use short take-off but arrested recovery (STOBAR) method to launch and recover aircraft. Boeing Is Aggressively Marketing Super Hornet According to Boeing's press release, the Super Hornet performed multiple ski-jumps, roll-in, and fly-in arrestments, as well as performance flights, in various weights in the air-to-air, air-to-ground, and air-to-surface configurations, meeting the Indian Navy's test requirements. "The Boeing team was privileged to showcase the F/A-18 Super Hornet's compatibility with Indian carriers in Goa," said Alain Garcia, vice president, India business development for Boeing Defense, Space & Security, and Boeing Global Services. "As the most advanced frontline multi-role naval fighter, the F/A-18 Super Hornet is one of the world's most proven and affordable multi-role fighters and continues to evolve with the development of the next-generation Block III capability, which will be game-changing for India." "With the Super Hornet Block III, the Indian Navy would not only get the most advanced platform but would also benefit from tactics, upgrades, and knowledge related to the naval aviation ecosystem that the US Navy offers," he added. Also, in a separate video that is circulating on Twitter, Alain Garcia said that a team of 60 personnel from the US Navy and Boeing took part in this operational demonstration. In the same video, Boeing Test Pilot John Tougas explains that there were two missions in this operational demonstration. One was to "demonstrate ski-jump take-off compatibility with Super Hornet at significant combat weights with combat loads." In the images posted of the test, Super Hornet is seen loaded with two 500lb laser-guided bombs, AIM9Xs and AIM-120s. Boeing Super Hornet During Operational Demonstrations (Indian Navy) While the second part of the mission, according to Tougas, was to make sure that "we get off the ship, we need to be able to get back on the ship," which involved demonstrating arresting gear compatibility with a foreign-made arresting gear using the Super Hornet. The Rafale-M had also reportedly completed these operational demonstrations in January. However, only Boeing has released the video and images of the trials. Boeing has repeatedly discussed the deal, while Dassault Aviation has been silent about it. rafale-marine File Image: Rafale Marine Fighter For example, a similar video was released by Boeing in 2020 of a test held at Naval Air Station (NAS) Patuxent River in Maryland to demonstrate the Super Hornets' ability to operate from a STOBAR aircraft carrier for the Indian Navy. As part of that test, the F-18 performed eight ski jumps in various weights and configurations. This shows that Boeing is aggressively marketing its F-18 as a perfect multi-role platform for the Indian Navy, and perhaps Dassault Aviation does not feel the need to do so because the Indian Air Force already operates the 36 land-based variants of the Rafale fighters, plus India has been a decade old customer of Dassault. Or it could be that Boeing may have a better chance of bagging the Indian Navy's contract as there have been some technical issues concerning Rafale-M's suitability for the Indian Navy's aircraft carrier. Technical Issues With Rafale-M Firstly, the Rafale-M cannot fold its wings, making it take up more space on the hangar deck. The weapons and tip rails of the aircraft have to be removed for it to fit into the Elevator, which will carry it to the maintenance bay below. Whereas the Super Hornet has a folding wing mechanism, Boeing has confirmed in its official presentation to the Indian Navy that the aircraft can fit into the Lift of the INS Vikrant and INS Vikramaditya without needing removal of the radome cone and wingtip rails. Also, F-18's single-seater and twin-seater variants can operate from the aircraft carrier, unlike the Rafale-M, whose twin-seater variant works from the shore, which Boeing argues, may benefit the Super Hornet. Furthermore, Rafale-M has a limited production of fewer than 50 units, as the only operator of this aircraft is the French Navy, which is said to make this platform more expensive than the Rafale jet operated by the French Air Force and Super Hornets. While in the case of the F-18, nearly 1,500 legacy and present generation planes were produced over the last four decades, which should reduce certain operating costs because of economies of scale. F/A-18 super hornet File Image: F/A-18 Block III Boeing officials also highlight the interoperability factor, saying the Super Hornet is compatible with other systems and platforms in the Indian Navy's service, like the MH-60 Romeo anti-submarine helicopters and P-8I Poseidon long-range maritime aircraft. Boeing is also offering an India-specific sustainment program called 'For India - By India', which will allow India to maintain Super Hornets locally throughout its lifecycle, resulting in higher aircraft availability and competitive pricing for the Indian Navy. As part of this sustainment program, Boeing will partner with India's local industry, building upon the company's nearly eight decades of presence in the country. Boeing's Twin Attack On Dassault Apart from the Indian Navy, Boeing is also targeting the Indian Air Force (IAF) as a potential customer for its F-15EX Eagle II. The IAF, after procuring 36 Rafale jets from France, proposed the MMRCA 2.0 tender to acquire 114 additional fighter jets. The tender is yet to be released. However, Boeing plans to pitch its F-15EX against Dassault Rafale, which many experts consider the favorite to win the contract. F-15C_fires_AIM-7_Sparrow_2 File Image: A USAF F-15C fires an AIM-7 Sparrow in 2005. (Wikimedia Commons) Boeing is aggressively pitching its F-15EX, suggesting the fighter jet could be offered at a much lower price than its competitors. Steve Parker, vice president and general manager of the Bombers & Fighters division within Boeing Defense, has reportedly indicated that Eagle II may cost lower than the expected $80 million unit price. The figure usually quoted by the US Defense Department for the flyaway unit cost of the F15EX is $87.9 million, with per hour flying cost of $29,000, and when armaments and other equipment are added to it, the price per unit will reach somewhere between $98 to $110 million. Whereas India purchased Rafales at a flyaway unit cost of $120 million with per hour flight costs ranging between $18000-$21000. Including the weaponry and the rest of the components, the price of Rafales exceeded $220 million per unit. The F-15EX is the latest model of the F-15 air superiority fighters. The F-15EX is identical to a conventional F-15 but incorporates a new fly-by-wire system, a more effective processor, and advanced electronic warfare (EW) suite. The Eagle-II is the world's fastest (Mach 2.5) and most heavily equipped warplane (payload of 13.6 tonnes), with the greatest strike range of 1,200 nautical miles or 2,222 kilometers. With Boeing's F-18 Super Hornets looking favorites to win the Indian Navy deal, at least on papers, Boeing's reported announcement of lowering the cost of its heavy-weight F-15 appears to be challenging French Dassault Aviation on both fronts. Source: EurAsian Times Jul 26, 2022: Hypersonic Technology Market 2022 Demand, Growth and Worldwide Aerojet Rocketdyne Holdings Inc., The Boeing Company, Brahmos Aerospace Pvt. Ltd. The Hypersonic Technology Market 2022-2028 report presents the opportunities for the players. It also offers business models and market forecasts for the participants. This market analysis allows industry manufacturers with future market trends. The Study reports provides the information about the technological advancement, new product launches, new players and recent developments in the global Hypersonic Technology Market. The Global Hypersonic Technology Market study report presents an in depth study about the market on the basis of key segments such as product type, application, key companies and key regions, end users and others. Moreover, it also highlights the revenues of the companies which are available in the public domain which is likely to have an impact on the growth and share of the market. The Market For Hypersonic Technology Market Is Expected to Reach Rise At A CAGR Of 9% During The Forecast Period. Request a sample of Hypersonic Technology Market report @ https://www.theresearchinsights.com/request_sample.php?id=490853&mode=08RB These revenues are used for the estimation of the growth of the Hypersonic Technology Market in over the forecast period. In addition, it also includes the competitive players which are being covered for the market. In a nutshell, the Hypersonic Technology Market research reports is a one-stop solution for all requirements by the in-house experts. Moreover, the details for the growth and the estimation of the report is also validated by the experts which are closely associated with the growth of the market in the estimated forecast period. This market analysis allows industry manufacturers with future market trends. Leading players of Hypersonic Technology Market including: Aerojet Rocketdyne Holdings Inc., The Boeing Company, Brahmos Aerospace Pvt. Ltd., Lockheed Martin Corporation, Thales Group, General Dynamics Corporation, Northrop Grumman Corporation, Raytheon Company, SAAB SA, Dynetics Inc., SpaceX, L3 Harris Technologies Inc Browse the complete report @ https://www.theresearchinsights.com/reports/global-hypersonic-technology-market-growth-2022-2028-490853?mode=08RB The Hypersonic Technology Market Report includes estimates of value (million USD) and volume (M Sqm). each top-down and bottom-up approaches area unit wants to estimate and validate the market size of the Hypersonic Technology Market and therefore the size of varied different sub-markets of the market as an entire. The key players within the Hypersonic Technology Market are known through secondary analysis, and market share has been determined through primary and secondary analysis. Percentage splits and breakdowns area unit all determined using secondary and valid primary sources. Source: This Is Ardee Jul 26, 2022: Is China's new C919 a threat to Boeing and Airbus? The state-owned Commercial Aircraft Corp of China (COMAC) announced that six C919 test jets have successfully completed their test-flight trials and the new narrow-body aircraft is now ready to obtain a flight certificate from the country's Civil Aviation Administration. China launched its first domestically designed commercial passenger aircraft program back in 2008, but it faced a flood of regulatory and technical setbacks, including US export controls. While the aircraft is assembled in China, the C919 relies on Western-designed and produced parts, such as flight controls and jet engines. China's state-owned manufacturer started C919 production in 2011, the first prototype was ready in 2015 and now the aircraft is nearing its official flight certification which is necessary for commercial operations. The first C919 is expected to be delivered to state-owned China Eastern Airlines in August. The airline placed an order for five C919 jets back in March 2021. Source: eTurboNews Jul 26, 2022: Aircraft MRO Market to Hit USD 9.76 Billion by 2029 At 4.93% CAGR Companies covered in aircraft MRO market are AeroSoft Systems Inc. (Canada), ATP Inc. (U.S.), Aviation Intertec Services Inc. (Canada), The Boeing Company (U.S.), CAMP Systems International Inc. (U.S.), Communications Software (Airline Systems) Limited (U.K.), GE Aviation (U.S.), HCL Technologies Limited (India), IBM Corporation (U.S.), IBS Software Pvt. Ltd. (India), IFS AB (Sweden), Jet Support Services Inc. (U.S.), Lufthansa Technik AG (Germany), Oracle Corporation (U.S.) and Other key players July 26, 2022 07:39 ET | Source: Fortune Business Insights Pune, India, July 26, 2022 (GLOBE NEWSWIRE) -- The global aircraft MRO market size was USD 6.73 billion in 2021. The market is projected to grow from USD 6.95 billion in 2022 to USD 9.76 billion by 2029 at an estimated CAGR of 4.93% in 2022-2029. This information is provided by Fortune Business Insights, in its report, titled, "Aircraft MRO Market, 2022-2029." According to our analysts, owing to technological progressions in commercial and military aviation, the aviation industry has turned to be more data-driven and related to ground-based MRO systems. Get a Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/sample/aviation-mro-software-market-101798 List of Key Players Mentioned in the Aircraft MRO Market Report: AeroSoft Systems Inc. (Canada) ATP Inc. (U.S.) Aviation Intertec Services Inc. (Canada) The Boeing Company (U.S.) CAMP Systems International Inc. (U.S.) Communications Software (Airline Systems) Limited (U.K.) GE Aviation (U.S.) HCL Technologies Limited (India) IBM Corporation (U.S.) IBS Software Pvt. Ltd. (India) IFS AB (Sweden) Jet Support Services Inc. (U.S.) Lufthansa Technik AG (Germany) Oracle Corporation (U.S.) Source: GlobeNewswire Jul 25, 2022: Condor ordered 41 Airbus A320/321neo to replace its aging Boeing 757 and A320/321ceo fleet Days after the end of the Farnborough Air Show 2022, German leisure airline Condor announced an order for thirteen Airbus A320neo and 28 A321neo, with purchase rights for an unspecified number of other aircraft. The aircraft will gradually renew its narrowbody fleet, which consists of thirteen Boeing 757-300s, 16 Airbus A320ceo and ten A321ceo, with an average age of 16.3 years. According to the company, the first delivery is scheduled for spring 2024, will feature Pratt & Whitney engines, PW1127G for the A320neo and PW1133G on the A321neo, allowing it a 20 % reduction in CO2 emissions and up to 50 % less noise than its current fleet. After the crisis, Condor rises again For several years Condor had been going downhill: its parent company Thomas Cook collapsed in 2019 and left the operator on the brink. In search of new shareholders, it started negotiations with Poland's Polska Grupa Lotnicza (PGL), which backs LOT Polish Airlines, in January 2020. The coronavirus crisis eventually drove PGL away and Condor was left reeling. Almost penniless, the historic German holiday company was supported by loans from the German state government. Finally, in May 2021, Condor introduced a new majority shareholder at a press conference: the British finance company Attestor, which acquired 51 percent of the airline's shares. At the end of 2021 its new investor announced an aggressive renewal that included the replacement of its Boeing 767-300ERs with 16 Airbus A330-900s arriving in the fall of 2022. The first destinations served by the latest model to join the fleet will include the Dominican Republic, Mexico and Seattle, USA. It also introduced a revamped cabin in all three classes, which will be featured on the A330neo, and soon on the A320neo Family. Ahead of the boreal summer 2022, it presented its new livery with five color stripes. Condor once again strengthens its position as Germany's second largest airline. Source: Aviacionline.com Jul 25, 2022: Spate of mid-flight incidents sparks probe of airlines in India India's aviation regulator is inspecting all of the country's airlines following a recent spate of non-fatal incidents to ensure they comply with safety standards, according to a document seen by Bloomberg News. The so-called special audit began on July 19 to tackle "engineering-related events," the Directorate General of Civil Aviation said in the document. It will investigate if airlines have enough qualified manpower and check staff training, along with work-shift limits designed to reduce crew fatigue. The DGCA said last week it grounded a pair of Airbus SE A320 planes operated by Go First, India's second-biggest airline, after two domestic flights were diverted due to engine issues, while another was rerouted when its windshield cracked. The regulator also grounded an Air India Boeing Co. 787 following pressure loss on a flight from Dubai to Cochin in India's south. The country's biggest carrier, IndiGo, also diverted a flight due to a technical problem. SpiceJet Ltd. has suffered several glitches on recent flights and was earlier this month summoned by the regulator to explain why no action should be taken against it for apparently failing to establish "safe, efficient and reliable air services." The airline was given three weeks to respond to the July 5 notification, meaning the deadline is Tuesday. SpiceJet didn't immediately respond to a request for comment. IndiGo, operated by InterGlobe Aviation Ltd., also didn't respond, along with Go First and Air India, which is now part of Tata Group. A representative for India's aviation ministry didn't immediately respond to request for comment. The DGCA will examine grounded planes and the latest maintenance data of all aircraft, according to the document, which was dated July 18. It will also check minimum equipment lists that allow flights to proceed when some gear is faulty but doesn't affect safety and airworthiness. Carriers' internal quality controls, spare parts and hangers will also be assessed. Source: American Journal of Transportation Jul 25, 2022: Texas Pacific and IBM have been highlighted as Zacks Bull and Bear of the Day Chicago, IL - July 25, 2022 - Zacks Equity Research shares Texas Pacific Land TPL as the Bull of the Day and International Business Machines IBM as the Bear of the Day. In addition, Zacks Equity Research provides analysis on The Boeing Company BA, L3Harris Technologies LHX and Spire Global, Inc. SPIR. Here is a synopsis of all five stocks: Bull of the Day: Texas Pacific Land is a Zacks Rank #1 (Strong Buy) that is landowners principally in the State of Texas. The Company generates revenue from pipeline, power line and utility easements, commercial leases, material sales and seismic and temporary permits related to land uses including midstream infrastructure projects and hydrocarbon processing facilities. The stock took off in late 2020 and into 2021, moving from $400 to $1770. From there, the stock saw a slow descent, back under the $1000 level earlier this year. But investors have been buying the stock since those bottoms in Q1. The stock is back at all time highs and should be watched for buying opportunities. More About TPL The company describes itself as a "Pure play in the Permian Basin." Texas Pacific Land was founded in 1888 and is headquartered in Dallas, Texas. It employs about 100 people and has a market cap of $13.5 billion. TPL engages in the land and resource management, and water services and operations businesses. The company's Land and Resource Management segment manages approximately 880,000 acres of land in 19 counties in the western part of Texas. It rents this land out to oil and gas producers that pay fees for use of that land. Texas Pacific also has a Water Services and Operations segment that provides full-service water offerings. The stock has a Zacks Style Score of "B" in Momentum and "C" in Growth. However, it has a "F" in Value, due to the high Forward PE of 28. While the PE is high, investors value the free cash flow more, which has been high due to higher energy prices. Q1 Earnings On May 4th, TPL reported an 8% EPS miss for Q1. While the company missed the estimates, the year over year numbers came in almost double from last year. For earnings, the company saw $12.64 v the $6.45 last year. And for revenues, $147.M vs the $84.2M last year. The company raised their dividend 9.1% and boosted their special dividend to $20 a share. Here are some comments from management on the special dividend and the quarter: "With tailwinds of favorable commodity prices, strong production, and a debt-free balance sheet, we're pleased to announce a $20 per share special dividend as our shareholders reap the windfall of supportive underlying fundamentals." The company added that the dividend is on top of their $100 million share repurchase program and they will continue to return capital back to shareholders. Estimates Rising Analysts are getting excited about the upcoming quarters and raising estimates across all time frames. Over the last month, estimates for the current quarter have gone from $15.10 to $15.84, a move of 5%. For the current year, we have seen a move of 3.5% higher, with estimates moving from $60.73 to $62.91. Next year's estimates are also moving higher. Over the last 60 days, estimates have gone from $67.26 to $70.60, or 5%. Strength in a Weak Market TPL has not only been a great place to hide, it has been very rewarding. The stock is up almost 50% so far in 2022 and over 120% since the beginning over 2020. In addition to the appreciation, investors are being rewarded with a small annual dividend and of course, the large special dividend. Investors should expect more special dividends in the future, due to the free cash flow that is being generated from high energy prices. The Technical Take The stock is trading at all-time highs so instead of chasing it, investors might want to be patient and look for pullbacks. The 21-day moving average is at $1600, while the 50-day is at $1550. The 200-day MA is all the way down at $1330 and not likely to hit anytime soon. Looking at the Fibonacci levels, the pullback earlier this year came down into the 61.8% retracement at $930 and held. Investors looking for upside targets could target the -23.6% level at $2075. In Summary When markets are weak, investors should look for relative strength. Not only is TPL relatively strong, but the stock has taken off to all-time highs. This is a very positive sign for investors and when market sentiment improves, the stock could really get going. Investors should watch energy prices when owning a name like this. A large drop in oil and natural gas could destroy the narrative. Bear of the Day: International Business Machines is a Zacks Rank #5 (Strong Sell) provides advanced information technology solutions, computer systems, quantum computing and super computing solutions, enterprise software, storage systems and microelectronics. "Big Blue" has struggled over the last decade, so they have tried to adjust and pivot to the cloud. Their acquisition of Red Hat helped this idea, but a recent earnings report has disappointed investors. The stock is now trending lower and looks like it might challenge 2022 lows. Source: Nasdaq Jul 22, 2022: Boeing's F/A-18 Super Hornet Completes Operational Demo for Indian Navy According to the Boeing Company, two F/A-18E Super Hornets from the United States Navy (USN) completed operational demonstration tests at the Indian Navy's Shore Based Test Facility (SBTF) at INS Hansa in Goa, even as its evaluation report from the Indian Navy still awaits. Both aircraft performed multiple ski-jumps, roll-in, and fly-in arrestments, as well as performance flights, in various weights in the air-to-air, air-to-ground, and air-to-surface configurations to fulfill the mission requirements for the Indian Navy. The previous tests, carried out at Naval Air Station (NAS) Patuxent River in Maryland in late 2020, consisted of eight ski jumps of varying weights and configurations. These tests demonstrated the Super Hornet's capability of operating from an aircraft carrier with a short takeoff but arrested recovery (STOBAR) configuration. "The Boeing team was privileged to showcase the F/A-18 Super Hornet's compatibility with Indian carriers in Goa," said Alain Garcia, vice president, India business development for Boeing Defense, Space & Security, and Boeing Global Services. "As the most advanced frontline multi-role naval fighter, the F/A-18 Super Hornet is one of the world's most proven and affordable multi-role fighters and continues to evolve with the development of the next-generation Block III capability, which will be game-changing for India." Boeing offers the Indian Navy both single-seater (E-Variant) and two-seater (F-Variant) F/A-18 Super Hornets for the latter's Multi-Role Carrier Borne Fighter (MRCBF) program. The Indian Navy's initial tender for 26 MRCBFs requires eight twin-seat and only 18 single-seat variants, with a provision to increase it to 57 later. The aircraft is powered by the same family of engines (GE F-414) as India's indigenous Light Combat Aircraft (LCA), which has already been inducted into service with the Indian Air Force. The commonality of engines will enable economies of scale for future maintenance possibilities. Source: IndraStra Global Jul 22, 2022: Will Mixed Product Deliveries Aid Boeing (BA) in Q2 Earnings? The Boeing Company BA is set to release second-quarter 2022 results on Jul 27, before the opening bell. In the last reported quarter, the company incurred a loss of $2.75, much wider than the Zacks Consensus Estimate of a loss of 26 cents. Solid commercial deliveries, along with strong aftermarket commercial jet services volume, must have boosted Boeing's second-quarter earnings performance, amid lower defense deliveries. amid lower defense deliveries. Will Mixed Product Deliveries Aid Results? Boeing's second-quarter deliveries reflected a solid 53.2% surge in commercial shipments from the year-ago reported figure. However, defense shipments declined 7% year over year. The Boeing Company Price and EPS Surprise For manufacturing companies like Boeing, successful deliveries of finished products play a crucial role in boosting revenue growth. Therefore, such a significant improvement witnessed in the jet maker's deliveries for its commercial segment is expected to benefit Boeing's overall second-quarter results. However, considering the fact that the jet giant's military business' revenues comprised almost 43% of total revenues as of 2021-end, while that of the commercial business comprised 31%, the decline in defense shipment might have outweighed the revenue benefits of the solid commercial shipment, thereby hurting the overall Q2 top-line performance. Expectations for BGS As far as Boeing Global Services (BGS) unit's performance in the second quarter is concerned, we remain optimistic. Notably, a consistent recovery in the commercial aerospace market is expected to have bolstered fleet utilization, thereby once again boosting aftermarket commercial jet services in the second quarter of 2022. This in turn must have added an impetus to the BGS unit's Q2 revenues. On the other hand, a favorable mix of products and services is expected to have boosted the operating margin of the BGS unit. This, in turn, must have contributed to its Q2 bottom-line performance. The Zacks Consensus Estimate for BGS unit revenues, pegged at $4,466 million, indicates an improvement of 9.8% from first-quarter 2021 reported revenues. The consensus mark for this segment's earnings is pegged at $633 million, which indicates a solid improvement of 19.2% from second-quarter 2021 reported earnings. Cash Flow Projections Improved air travel statistics in recent times, which resulted in higher commercial deliveries, along with higher order receipts as well as increased aftermarket services must have once again contributed favorably to Boeing's cash flow reserve in the second quarter of 2022. In particular, increased 737 deliveries must have boosted operating cash flow. Q2 Expectations Considering the aforementioned discussion, we remain optimistic about BA's Q2 overall revenue and earnings performance. However, the abnormal costs in relation to the 787 program along with supply chain constraints might have had some adverse impact on the company's bottom line. The Zacks Consensus Estimate for Boeing's total revenues is pegged at $17.74 billion, suggesting a 4.4% improvement from the prior-year reported number. The consensus estimate for the bottom line is pegged at a loss of 8 cents per share, indicating a decline from the year-ago quarter's earnings of 40 cents. What the Zacks Model Unveils Our proven model does not conclusively predict an earnings beat for Boeing this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, this is not the case for BA. Boeing has an Earnings ESP of -62.40% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter. Stocks to Consider Here are three defense companies you may want to consider as these have the right combination of elements to post an earnings beat this season: L3Harris Technologies LHX: It is scheduled to release its second-quarter results on Jul 28. LHX holds a Zacks Rank #3 and an Earnings ESP of +1.09%. You can see the complete list of today's Zacks #1 Rank stocks here. LHX delivered a four-quarter average earnings surprise of 2.32%. The Zacks Consensus Estimate for L3Harris' second-quarter earnings, pegged at $3.16, has moved up 0.3% over the past seven days. Triumph Group TGI: It is scheduled to release its first-quarter fiscal 2023 results on Aug 3. TGI holds a Zacks Rank #3 and has an Earnings ESP of +53.33%. The Zacks Consensus Estimate for Triumph Group's fiscal first-quarter earnings, pegged at 8 cents, has improved 33.3% over the past 30 days. TGI delivered a four-quarter average earnings surprise of 42%. CAE Inc CAE: The company is expected to release its fiscal first-quarter results soon. It holds a Zacks Rank #3 and an Earnings ESP of +2.27%. The Zacks Consensus Estimate for CAE's fiscal first-quarter earnings, pegged at 18 cents, has remained unchanged over the past seven days. CAE delivered a four-quarter average earnings surprise of 7.67%. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Source: Nasdaq Jul 22, 2022: Boeing Bags Order From Qatar Airways For 25 737 MAX Airplanes (RTTNews) - Aerospace business Boeing (BA) and Qatar Airways on Thursday finalized an order for 25 737 MAX airplanes. The order for 737-10, Boeing's largest and most efficient single-aisle jet, was announced by company leaders in a signing ceremony at the Farnborough International Airshow. Seating up to 230 passengers with a range of 3,300 nautical miles, the 737-10 is the largest airplane in the 737 MAX family, offering greater fuel efficiency and the best per-seat economics of any single-aisle airplane in the industry. The jet can cover 99 percent of the world's single-aisle routes. In January, Boeing and Qatar Airways had announced a Memorandum of Understanding for 737 MAX airplanes. In addition, the airline became the global launch customer for the new 777-8 Freighter, with an order for up to 50 freighters. Shares of The Boeing Company are currently trading in pre-market at $157.95, down $0.43 or 0.27 percent from the previous close. Source: Nasdaq Jul 22, 2022: Akasa Air To Operate 1st Flight On Mumbai-Ahmedabad Route On August 7; Opens Ticket Sales Airline Akasa Air will launch its commercial flight operations on August 7 by operating its first service on the Mumbai-Ahmedabad route using a Boeing 737 Max aircraft, the new airline company informed on Friday. The airline released a statement stating that it has opened ticket sales on 28 weekly flights it will be operating on the Mumbai-Ahmedabad route from August 7, as well as on 28 weekly flights it will operating on the Bengaluru-Kochi route from August 13, as per PTI. The carrier will launch commercial operations with two 737 Max aircraft. Boeing has delivered one Max plane and the second one's delivery is scheduled to take place later this month. READ | Akasa Air take off likely in late May/early June; to further democratise air travel: CEO Praveen Iyer, Co-founder and Chief Commercial Officer of Akasa Air, said, "We kick-start operations with flights between Mumbai and Ahmedabad, with the brand-new Boeing 737 Max aircraft. We will adopt a phased approach to support our network expansion plans, progressively connecting more cities, as we add two aircraft to our fleet each month, in our first year," he added. Akasa Air gets airline license from DGCA On July 7, Akasa Air got its airline licence from the Directorate General of Civil Aviation (DGCA). With the DGCA giving its green light to Max planes in August 2021, Akasa Air signed a deal with Boeing on November 26 last year to purchase 72 Max aircraft Following the government's initiative to usher in a new era of digitisation, Akasa Air is the first airline whose end-to-end AOC process was conducted using the government's progressive eGCA digital platform. The process concluded with the airline has successfully conducted a number of proving flights under the supervision of the country's aviation regulator. READ | On track to receive first 737 Max plane by mid-June, launch commercial ops by July: Akasa Air Commenting on the significant milestone, Vinay Dube, founder and chief executive officer, Akasa Air, said, "We are extremely thankful to the Ministry of Civil Aviation and the DGCA for their constructive guidance, active support and the highest levels of efficiency throughout the AOC process. We now look forward to opening our flights for sale, leading to the start of commercial operations by late July. This will begin our journey towards building India's greenest, most dependable, and most affordable airline". READ | Akasa Air takes delivery of first 737 Max aircraft from Boeing The airline had launched the first look of its crew uniform on Monday, July 4, and said the airline will focus on providing the best possible comfort over their busy flight schedules. Akasa Air received the first delivery of the Boeing 737 Max Aircraft in India on June 21. Source: Republic World Jul 22, 2022: Boeing to Invest $50M in New Aerospace Tech Venture Fund Boeing on Wednesday said it has agreed to provide $50 million to anchor a new aerospace technology venture fund that is privately-managed by the company's partner AE Industrial Partners (AEI), a private equity firm. The new investment in AEI HorizonX will be put toward the venture capital platform's second fund, which aims to raise $250 million to invest in startups in future mobility, space, sustainability, digital enterprise applications, networks and security. AEI declined to comment on whether it has additional investors yet in Fund II. Boeing created HorizonX in 2017 to invest in startups and technology companies developing on the cutting edge in areas such as space, autonomy, unmanned systems, 3D printing and rugged computing. When Boeing shifted HorizonX in August 2021 to a strategic partnership with AEI, the venture capital arm had already made minority investments in 40 companies including Redwire and Firefly Aerospace. 'The AEI HorizonX platform has provided a key enabler for Boeing to partner with early-stage companies and accelerate the development and adoption of their technology," Greg Hyslop, chief engineer at Boeing, said in a statement. "It's all about the technology transitions, how we can partner with entrepreneurs to turn great ideas into deployed solutions across our products and services to better support our customers." The current portfolio of AEI HorizonX includes 51 global investments in companies working in artificial intelligence and machine learning, reducing the climate impact of aerospace systems, and data analytics. The portfolio includes companies in the U.S., Europe, Asia, and Australia. AEI HorizonX has also sold five of its investments, including UpSkill to TeamViewer, Morf3D to Nikon, Agylstor to Tsecond, and Cuberg to NorthVolt, and helped Virgin Galactic go public in 2019. Boeing said the second fund will expand its access to critical innovations. "The future of aerospace is digital, sustainable and autonomous," Marc Allen, Boeing's chief strategy officer, said in a statement. "This new Fund II builds on the foundation we have with Fund I and positions us to significantly expand our strategic access to disruptive technologies critical to shaping and realizing the future." AEI HorizonX's investments give the startups access to Boeing's talent and knowledge and in turn provide Boeing opportunities to adopt new technologies and capabilities across its aerospace and defense businesses. AEI HorizonX's most recent investment, announced July 14, is part of a Series B funding round with Shift5, which has developed data insight tools for operational technology. The new investment will help Shift5 gain traction in the aerospace and defense industries. "By providing visibility into the data that powers their most expensive, longest-lived, and most consequential fleet assets, Shift5 allows rail, aerospace and defense companies to make data-informed decisions once considered impossible, to improve cybersecurity and increase operational efficiency," AEI said. Source: Via Satellite Jul 22, 2022: Armstrong World Industries Appoints Boeing Senior Executive to Board of Directors LANCASTER, Pa., July 21, 2022 (GLOBE NEWSWIRE) -- Armstrong World Industries, Inc. (NYSE:AWI), a leader in the design, innovation and manufacture of ceiling and wall solutions, today announced the appointment of William H. Osborne to its Board of Directors. With his addition, the board of directors expands to nine members. Osborne brings deep and relevant experience to the Armstrong board with over 35 years of progressive leadership experience in manufacturing, operational excellence, supply chain, environment, health and safety at a range of global manufacturing companies. Currently, he serves as senior vice president of Total Quality and Operations for Boeing Defense, Space & Security, a division of Boeing, that generated over $26 billion in revenue in 2021. He is also a member of the Boeing's Executive Council. Prior to his current position, he was as senior vice president of Enterprise Operations at Boeing, where he led the company's Enterprise Program Management, Supply Chain, Manufacturing and Quality functions. Prior to joining Boeing in 2018, Osborne held a variety of leadership roles at Navistar Corporation, Federal Signal Corporation and Ford Motor Company. Osborne is the second new member to join the AWI board of directors in 2022. Richard D. Holder was elected to the board in June at the company's annual shareholder meeting. Holder currently serves as President and Chief Executive Officer of HZO, Inc., a provider of thin-film nanocoatings for electronics, a role that he has held since February 2021. Prior to this, he was President and Chief Executive Officer of NN, Inc., a publicly traded, diversified industrial manufacturing company and held a progression of leadership roles at Eaton Corporation. "We are thrilled to welcome Bill and Rich to our board of directors," said Vic Grizzle, Armstrong president and CEO. "The breadth and diversity of their experience in a range of industrial and manufacturing companies will be invaluable for AWI as we strive to execute our growth strategy and continue to pursue operational excellence across our enterprise." About Armstrong World Industries Armstrong World Industries, Inc. (AWI) is a leader in the design and manufacture of innovative ceiling and wall solutions in the Americas. With $1.1 billion in revenue in 2021, AWI has nearly 3,000 employees and a manufacturing network of 15 facilities, plus six facilities dedicated to its WAVE joint venture. Source: GlobeNewswire Jul 21, 2022: Global Simulators Market Report 2022-2027: Featuring Key Players Airbus, Raytheon Technologies, Boeing & Others - ResearchAndMarkets.com The "Global Simulators Market by Application (Commercial Training, Military Training), Solution (Products, Services), Platform (Airborne, Land, Maritime), Technique (Live, Virtual & Constructive, Synthetic Environment, Gaming), Type, and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering. "Global Simulators Market by Application (Commercial Training, Military Training), Solution (Products, Services), Platform (Airborne, Land, Maritime), Technique (Live, Virtual & Constructive, Synthetic Environment, Gaming), Type, and Region - Forecast to 2027" Tweet this The Global Simulators Market is projected to grow from USD 25.5 billion in 2022 to USD 34.9 billion by 2027, at a CAGR of 6.5% from 2022 to 2027. Some of the factors fueling the market's growth include acceptance of virtual pilot training to ensure aviation safety. Developments of simulators for unmanned aerial systems are anticipated to open several growth opportunities during the forecast period. The maritime segment accounts for the largest market size in the platform segment during the forecast period Based on platform, the simulators market has been segmented into airborne, land, and maritime. Key players operating in the simulators market are focused on developing advanced simulators to explore new market opportunities in airborne, land, and maritime applications. The services segment is projected to grow at the highest CAGR during the forecast period Based on the solution, the simulators market has been segmented into products and services. The services segment includes services that simulator developers and OEMs provide to efficiently maintain and operate installed simulator hardware and software. The breakdown of simulators during any operation can cause significant losses for simulator operators. All paid aftermarket services offered by OEMs to simulator operators have been considered in this segment. There is a growing need for such services, which is expected to boost the segment's growth. Asia Pacific is expected to account for the largest share in 2021 The Simulators industry has been studied for North America, Europe, Asia Pacific, Middle East, and Rest of the World. Asia Pacific is estimated to account for the largest share of the Simulators market in 2021. The rise in air traffic passenger, ship orders, and commercial vehicle licenses is a significant factor contributing to the market growth in the Asia Pacific region. The report provides insights on the following pointers: Market Penetration: Comprehensive information on Simulators offered by the top players in the market Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Simulators market Market Development: Comprehensive information about lucrative markets - the report analyzes the Simulators market across varied regions Market Diversification: Exhaustive information about new products& services, untapped geographies, recent developments, and investments in the Simulators market Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players in the Simulators market Key Topics Covered: 1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 5 Market Overview 6 Industry Trends 7 Simulators Market, by Solution 8 Simulators Market, by Platform 9 Simulators Market, by Type 10 Simulators Market, by Application 11 Simulators Market, by Technique 12 Regional Analysis 13 Competitive Landscape 14 Company Profiles Companies Mentioned Airbus SAS ARI Simulation Avion Group AVT Simulation Bohemia Interactive Simulations CAE Inc. ECA Group Elite Simulation Solutions FlightSafety International Frasca International, Inc. Indra Sistemas SA Kongsberg Maritime L3Harris Technologies Oktal Sydac Precision Flight Controls, Inc. Raytheon Technologies Rheinmetall AG Saab AB Simcom Aviation Training ST Engineering Thales SA The Boeing Company TruSimulation + Training Inc. Virtra VSTEP BV Source: Business Wire Jul 21, 2022: Boeing vs Dassault: F/A-18 Super Hornet completes operational demonstration for Indian Navy NEW DELHI: US aerospace major Boeing on Wednesday said its F/A-18 Super Hornet fighter aircraft completed operational demonstration at a naval station in Goa, as the company looks to bag a contract to supply a fleet of deck-based aircraft to the Indian Navy. The Navy is in the process of procuring a fleet of fighter jets under the government-to-government route for its indigenous aircraft carrier (IAC) Vikrant, which is set to be commissioned next month. Boeing said two US Navy F/A-18E Super Hornets completed "multiple ski-jumps, roll-in and fly-in arrestments, as well as performance flights, in a variety of weights in the air-to-air, air-to-ground, and air-to-surface configurations, meeting the Indian Navy test requirements". "The Boeing team was privileged to showcase the F/A-18 Super Hornet's compatibility with Indian carriers in Goa," said Alain Garcia, vice president, India business development at Boeing Defence, Space and Security. "As the premier frontline multi-role naval fighter, the F/A-18 Super Hornet is one of the world's most proven and affordable multi-role fighters and continues to evolve with the development of the next-generation Block III capability which will be game-changing for India," the top executive said. With the Super Hornet Block III, he added that the Indian Navy would not only get the most advanced platform but would also benefit from tactics, upgrades and knowledge related to the naval aviation ecosystem that the US Navy offers. The Navy has shortlisted F/A-18E Super Hornet and Rafale M aircraft produced by the French aerospace major Dassault Aviation for procurement. Over four years ago, the Indian Navy had initiated the process to acquire 57 multi-role combat aircraft for its aircraft carrier. However, it is learnt that the number could be around 30 initially. At present, the Indian Navy operates Russian-origin MiG-29K fighters from its sole aircraft carrier INS Vikramaditya. The Request For Information issued by the Navy for procurement of the deck-based fighter jets sought to know at what level of Transfer of Technology (ToT) the companies are willing to share with India. Source: The New Indian Express Jul 21, 2022: Boeing: All-cargo Airline Cargolux Selects 777-8 Freighter To Replace 747-400 Fleet (RTTNews) - Boeing Co. (BA) Thursday announced that Cargolux, a Luxembourg-based all-cargo airline, has selected the 777-8 Freighter as the preferred solution to replace its 747-400 fleet. The selection was announced at the Farnborough International Airshow. According to the company, the 777-8 Freighter, with nearly identical payload and range capabilities as the 747-400 Freighter, will provide 30% better fuel efficiency and emissions and 25% better operating costs per tonne. Cargolux is planning to replace aging large freighters later this decade. Stan Deal, president and CEO of Boeing Commercial Airplanes, said, "With its investment in the 777-8 Freighter, Cargolux will operate the most advanced, fuel-efficient, twin-engine freighter in the industry. The 777-8 Freighter significantly reduces CO2 emissions compared to previous models with a reduced noise footprint, helping to advance Cargolux's commitment to sustainable operations." Boeing launched the 777-8 Freighter in January and has booked more than 50 orders for the model. Source: Nasdaq Jul 21, 2022: The Boeing Model 40: A Pioneering Interwar Mail Plane The Model 40 was used to deliver air mail between the two World Wars. Having the distinction of being the first Boeing company plane to carry passengers, the Boeing Model 40 was primarily used to carry mail during the 1920s and 1930s. Following World War I, the aircraft of choice for carrying mail in the United States was initially the Geoffrey de Havilland-designed Airco DH.4. Used by the British as a bomber during the war, the biplane was the first light bomber capable of defending itself. Now growing a bit old in the tooth in 1925, the United States Post Office issued a requirement for a mail plane to replace the ex-military DH-4s used by the American expeditionary forces in France. Because of a large stock of water-cooled Liberty V12 engines left over from the war; the post office wanted them to be used to power the new mail planes. Boeing designed a plane to win the mail contract Wanting to get the lucrative order, Boeing developed a biplane made from steel tubing and aluminum that could transport up to 1,000 lbs of mail. The mail was carried in two compartments in the front of the fuselage. A single pilot occupied and flew the plane from an open cockpit in the rear. Fitted with a conventional landing gear, the Boeing Model 40 first flew on July 7, 1925. Despite the prototype being bought by the post office, the Douglas Aircraft Company won the purchase order. While Boeing was working on the Model 40, Douglas modified its Douglas O-2 observation biplane, renaming it the DAM-1 (Douglas Air-Mail-One). The plane was then later improved upon and called the Douglas M-2. Congress passes an act to privatize air mail routes At the same time as the post office was buying the Douglas M-2, Congress decided to privatize the post office's air mail route monopoly and passed what became known as the "Kelly Act." Split into two east and west sections. Boeing decided to bid for the western routes and modify the design of its Model 40. For the new variant, Boeing replaced the WWI engine with a lighter, more powerful 425 hp air-cooled Pratt & Whitney Wasp radial. The fuselage was also redesigned, and an enclosed cabin was fitted between the mail compartments, allowing two passengers to be transported along with 1,200 lbs of mail. After placing a bid of $3.00 per pound, Boeing was awarded the San Francisco to Chicago route. To service the route, Boeing built 24 Model 40s before enlarging the cabin to carry four passengers on its latest variation, the Boeing Model 40C, which had a new 525 hp Pratt & Whitney Hornet radial engine. Boeing had its own airline While Boeing is one of the world's leading aircraft manufacturers, it's interesting to learn that the Seattle planemaker also operated its own airline. Called "Air Boeing Transport," the airline first flew using Model 40s on July 1, 1927, between San Francisco and Chicago. Other operators of the Boeing Model 40 include Boise, Idaho-based Varney Air Lines, who later went on with others to become United Airlines. Another operator of the Boeing Model 40 was an Oregon bus company that formed a mail delivery service called "Pacific Air Transport." Source: Simple Flying Jul 20, 2022: Boeing Closes In on Making New Dreamliner Deliveries Boeing Co. commercial airplanes chief Stan Deal said Sunday the manufacturer was "very close" to resuming 787 Dreamliner deliveries after a nearly two-year pause. Jul. 19-Boeing Co. commercial airplanes chief Stan Deal said Sunday the manufacturer was "very close" to resuming 787 Dreamliner deliveries after a nearly two-year pause. Mr. Deal said the regulatory process to win approval for resolving various production defects with the wide-body jets was close to finished. "I don't think there will be extra innings added," he said at a news conference ahead of the Farnborough International Airshow. The plane maker initially halted Dreamliner deliveries in late 2020 to address manufacturing issues, which raised more questions by its own engineers and the Federal Aviation Administration. The agency approves airplane designs and has final say on when passengers can fly on commercial jets in the U.S. The FAA, which ultimately controls when Boeing can resume delivery of the wide-body jets, said it "will sign off on each delivery only after Boeing demonstrates the aircraft meets its safety standards." The agency isn't currently expected to approve Dreamliner deliveries until later this month at the earliest, people familiar with the matter have said. The 787 has proven popular with airlines for long-haul international flights and enabled carriers to connect the world's cities with new routes. Major Boeing customers including American Airlines have had to pare their flying schedules because of the delayed 787 deliveries. Boeing said it had about 115 Dreamliners - together valued at more than $25 billion - in its inventory at the end of March. Mr. Deal predicted Boeing would receive more orders for the Dreamliner once the company resumes deliveries of the jet. He also said Boeing would likely receive new orders for the 737 MAX 10, the longest version of the company's narrow-body jet, at the air show. The MAX 10 faces a cloudy future because of a legally mandated year-end deadline requiring an update to the plane's cockpit systems that Boeing might not meet. Chief executive David Calhoun told a trade publication recently that the manufacturer might have to consider scrapping the new plane if Congress didn't extend the deadline. Source: Aviation Pros Jul 20, 2022: Breaking: Boeing Secures Additional 5-Aircraft 787 Order From Aercap Boeing has started the 2022 Farnborough International Airshow in form as hot as the heatwave currently being experienced by those at the show. Having secured orders from Delta Air Lines and 777 Partners, it has now agreed on a deal with Irish firm AerCap to provide a further five 787 Dreamliners to the lessor. Another five twinjets Based in Dublin, Ireland, AerCap is a world-leading aircraft leasing specialist which, according to data from ch-aviation.com, manages more than 2,000 planes. It owns just under 1,000 of these, and, in recent years, the Boeing 787 'Dreamliner' family has become an increasingly important part of its, and its customers', operations. Before the airshow, AerCap had managed 21 Boeing 787-8s and 77 787-9s, of which it owned 19 and 69 aircraft respectively. However, the latter of these models is set to grow in number at the lessor, with Boeing and AerCap having just announced a deal for five more examples of the mid-size twin-engine narrowbody. This will see the total number of 787s managed by AerCap exceed 100, in what is an exciting milestone for both Boeing and the leasing giant itself. Present at the signing and announcement in Farnborough were Ihssane Mounir (Boeing's Senior VP of Commercial Sales and Marketing) and Peter Anderson (AerCap's CCO). Source: Simple Flying Jul 20, 2022: AerCap, World's Largest 787 Customer, Adds Five Boeing 787 Dreamliners to Its Fleet FARNBOROUGH, United Kingdom, July 19, 2022 /PRNewswire/ -- Boeing [NYSE: BA] and AerCap Holdings N.V. ("AerCap") [NYSE: AER] today announced that the global lessor is growing its substantial 787 Dreamliner portfolio with an order for five additional 787-9 jets. "AerCap is the world's largest 787 customer and we are very pleased to strengthen that position with this order for five additional aircraft," said Peter Anderson, Chief Commercial Officer of AerCap. "This transaction is in line with our portfolio strategy of investing in the most in-demand new technology assets and will help us continue to support our airline customers meet their sustainability commitments." AerCap now has 125 787 Dreamliners in its portfolio or on order. The world's largest 787 customer, AerCap continues to invest in the 787 family, which has received more than 700 repeat orders from 47 customers across the globe. The 787 has been the most-utilized widebody throughout the pandemic due to its efficiency, capacity and capability. Boeing designed the 787 family with superior efficiency, which allows airlines to profitably open new routes to fly people directly where they'd like to go in exceptional comfort. "AerCap oversees a world-class leasing portfolio, epitomized by the most utilized widebody in the industry, the 787 Dreamliner," said Ihssane Mounir, Boeing Senior Vice President of Commercial Sales and Marketing. "With its unparalleled fuel efficiency and passenger appeal, the 787 Dreamliner family is playing a major role in sustaining, reopening and pioneering new routes in the long-haul travel market." Since revenue service began in 2011, the 787 family has launched more than 325 new nonstop routes around the world, including 50 routes opened since 2020. The 787-9 can fly 296 passengers up to 7,565 nautical miles (14,010 km) in a typical two-class configuration. As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing's diverse team is committed to innovating for the future, leading with sustainability, and cultivating a culture based on the company's core values of safety, quality and integrity. Join our team and find your purpose at boeing.com/careers. AerCap is the global leader in aviation leasing with one of the most attractive order books in the industry. AerCap serves approximately 300 customers around the world with comprehensive fleet solutions. AerCap is listed on the New York Stock Exchange (AER) and is based in Dublin with offices in Shannon, Miami, Singapore, Memphis, Amsterdam, Shanghai, Abu Dhabi, Seattle, Toulouse and other locations around the world. Source: Boeing Mediaroom Jul 20, 2022: Boeing Sells Five 787 Dreamliners to Aircraft Lessor in Air Show Boost FARNBOROUGH, England-Boeing Co. BA 5.69%▲ sold five more 787 Dreamliners to aircraft-leasing company AerCap Holdings N.V., AER 4.60%▲ its largest buyer for the wide-body jet. The order is a boost for Boeing's 787 Dreamliner program. Deliveries of the jets have been on hold for much of the last two years as the plane maker resolves production issues with U.S. air-safety regulators. Boeing commercial airplanes chief Stan Deal said earlier this week the company was "very close" to resuming deliveries. Boeing's business has suffered in recent years. It has been trailing in orders for narrow-body aircraft such as the 737 MAX, and while it has been ahead in orders for wide-bodies like the 787, the delivery pause has choked off an important source of cash. Peter Anderson, AerCap's chief commercial officer, said jets like the Dreamliner used in international long-haul travel are in increasing demand as air travel recovers from the depths of the pandemic. Newsletter Sign-up The 10-Point. A personal, guided tour to the best scoops and stories every day in The Wall Street Journal. SUBSCRIBE "We see that market coming back strongly," he said while announcing the deal Tuesday at the Farnborough International Air Show near London. The Wall Street Journal reported the deal earlier Tuesday. Separately, Boeing on Tuesday said it struck a deal to sell 30 of the 737 MAX jets to a private-investment firm that will place the single-aisle jets with discount carriers. The deal comes with a commitment by the customer, 777 Partners, to buy up to 36 more. An executive with the buyer of Boeing 787 Dreamliners said the big jets are in demand as air travel recovers from the difficulties of the pandemic. Photo: Stephen Brashear/Getty Images Miami-based 777 Partners has placed aircraft with carriers such as Canadian discount carrier Flair Airlines Ltd. The deal is for the 737 MAX 8 variant of the family. On Monday, Delta Air Lines Inc. said it would buy 100 737 MAX 10 jets, the longest and latest variety of the jet, with options to buy 30 more. Both orders represent a shot in the arm for the aircraft, which has been beset by a nearly two-year grounding after two deadly accidents. Delta said Tuesday it would also buy 12 Airbus A220s, bringing its total for the former Bombardier aircraft to 107 aircraft. The U.S. carrier had 56 of the jets operating in its fleet as of the end of June. Source: The Wall Street Journal Jul 20, 2022: The Boeing Company Enters Today Up 3.13% The Hourly View for The Boeing Company At the moment, BA's price is down $-0.02 (-0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on The Boeing Company. Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 20 hour changed directions on BA; it is now pointing down. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment - meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The Daily View for The Boeing Company At the time of this writing, BA's price is up $4.63 (3.13%) from the day prior. This is a reversal of the price action on the previous day, in which price moved down. As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe. Of note is that the 50 day changed directions on BA; it is now pointing up. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment - meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. Source: CFDTrading Jul 20, 2022: Q2 2023 EPS Estimates for The Boeing Company Decreased by Seaport Res Ptn (NYSE: BA) The Boeing Company (NYSE:BA - Get Rating) - Seaport Res Ptn dropped their Q2 2023 EPS estimates for Boeing in a report released on Sunday, July 17th. Seaport Res Ptn analyst R. Safran now anticipates that the aircraft producer will post earnings per share of $1.44 for the quarter, down from their prior forecast of $1.50. The consensus estimate for Boeing's current full-year earnings is ($1.14) per share. Seaport Res Ptn also issued estimates for Boeing's Q4 2023 earnings at $1.79 EPS. Get Boeing alerts: A number of other research firms have also commented on BA. Benchmark lowered their target price on shares of Boeing from $250.00 to $200.00 and set a "buy" rating for the company in a report on Friday, July 15th. Susquehanna lowered their target price on shares of Boeing from $193.00 to $192.00 in a report on Friday, May 20th. Sanford C. Bernstein lowered their target price on shares of Boeing from $239.00 to $216.00 in a report on Thursday, April 28th. Morgan Stanley lowered their target price on shares of Boeing from $288.00 to $230.00 and set an "overweight" rating for the company in a report on Friday, April 8th. Finally, The Goldman Sachs Group set a $288.00 target price on shares of Boeing and gave the stock a "buy" rating in a report on Wednesday, July 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $222.18. Boeing Stock Performance BA opened at $156.13 on Tuesday. The company has a fifty day moving average price of $134.59 and a two-hundred day moving average price of $171.53. Boeing has a 52 week low of $113.02 and a 52 week high of $241.15. The firm has a market capitalization of $92.37 billion, a PE ratio of -18.88 and a beta of 1.36. Boeing (NYSE:BA - Get Rating) last issued its quarterly earnings results on Wednesday, April 27th. The aircraft producer reported ($2.75) earnings per share for the quarter, missing analysts' consensus estimates of ($0.26) by ($2.49). The company had revenue of $13.99 billion for the quarter, compared to analyst estimates of $15.90 billion. Boeing's quarterly revenue was down 8.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.53) earnings per share. Institutional Investors Weigh In On Boeing Several institutional investors have recently added to or reduced their stakes in the stock. Bowling Portfolio Management LLC lifted its position in Boeing by 4.1% during the 1st quarter. Bowling Portfolio Management LLC now owns 3,787 shares of the aircraft producer's stock worth $725,000 after buying an additional 148 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its position in Boeing by 14.0% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 2,587 shares of the aircraft producer's stock worth $495,000 after buying an additional 317 shares in the last quarter. Douglas Lane & Associates LLC lifted its position in Boeing by 4.0% during the 1st quarter. Douglas Lane & Associates LLC now owns 3,635 shares of the aircraft producer's stock worth $696,000 after buying an additional 140 shares in the last quarter. Allworth Financial LP lifted its position in Boeing by 11.3% during the 4th quarter. Allworth Financial LP now owns 10,140 shares of the aircraft producer's stock worth $2,041,000 after buying an additional 1,029 shares in the last quarter. Finally, RDA Financial Network lifted its position in Boeing by 11.8% during the 1st quarter. RDA Financial Network now owns 5,034 shares of the aircraft producer's stock worth $964,000 after buying an additional 532 shares in the last quarter. 53.96% of the stock is owned by institutional investors. Source: Defense World Jul 19, 2022: The Boeing Company (NYSE: BA) Shares Sold by Vestmark Advisory Solutions Inc. Vestmark Advisory Solutions Inc. cut its holdings in shares of The Boeing Company (NYSE:BA - Get Rating) by 23.9% in the 1st quarter, Holdings Channel reports. The firm owned 1,448 shares of the aircraft producer's stock after selling 456 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in Boeing were worth $277,000 at the end of the most recent reporting period. Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC acquired a new stake in Boeing during the fourth quarter valued at approximately $27,000. Strategic Asset Management LLC lifted its stake in Boeing by 102.9% during the fourth quarter. Strategic Asset Management LLC now owns 138 shares of the aircraft producer's stock valued at $28,000 after purchasing an additional 70 shares during the last quarter. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Boeing during the fourth quarter valued at approximately $28,000. AHL Investment Management Inc. acquired a new stake in shares of Boeing during the fourth quarter valued at approximately $39,000. Finally, Ellis Investment Partners LLC raised its holdings in shares of Boeing by 94.1% during the fourth quarter. Ellis Investment Partners LLC now owns 198 shares of the aircraft producer's stock valued at $40,000 after acquiring an additional 96 shares during the period. 53.96% of the stock is owned by institutional investors and hedge funds. Get Boeing alerts: Boeing Stock Down 0.0 % Shares of BA opened at $147.72 on Tuesday. The company's fifty day moving average is $134.12 and its 200-day moving average is $171.64. The Boeing Company has a 12 month low of $113.02 and a 12 month high of $241.15. The firm has a market cap of $87.40 billion, a price-to-earnings ratio of -17.86 and a beta of 1.36. Boeing (NYSE:BA - Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The aircraft producer reported ($2.75) EPS for the quarter, missing the consensus estimate of ($0.26) by ($2.49). The firm had revenue of $13.99 billion for the quarter, compared to the consensus estimate of $15.90 billion. During the same quarter last year, the business posted ($1.53) EPS. The firm's revenue was down 8.1% compared to the same quarter last year. As a group, research analysts predict that The Boeing Company will post -1.14 earnings per share for the current fiscal year. Wall Street Analysts Forecast Growth A number of equities research analysts have recently issued reports on BA shares. Morgan Stanley cut their price target on shares of Boeing from $288.00 to $230.00 and set an "overweight" rating on the stock in a report on Friday, April 8th. Bank of America boosted their price target on shares of Boeing from $150.00 to $170.00 and gave the company a "neutral" rating in a report on Friday. Jefferies Financial Group cut their price target on shares of Boeing from $270.00 to $225.00 and set a "buy" rating on the stock in a report on Monday, May 2nd. Wells Fargo & Company cut their price target on shares of Boeing from $250.00 to $214.00 in a report on Thursday, April 28th. Finally, The Goldman Sachs Group set a $288.00 price objective on shares of Boeing and gave the company a "buy" rating in a research note on Wednesday, July 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $222.18. Boeing Profile (Get Rating) The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital. Source: Defense World Jul 19, 2022: Goldman Sachs, ODP, Boeing rise; Seagen falls NEW YORK (AP) - Stocks that traded heavily or had substantial price changes Monday: ODP Corp., up $3.81 to $35.32. Office Depot's owner announced better-than-expected preliminary results, a bullish full-year forecast and a $600 million stock buyback. Goldman Sachs Group Inc., up $7.39 to $301.26. The investment bank reported quarterly results that easily beat analysts' expectations. Boeing Co., down 2 cents to $147.72. Delta Air Lines is ordering 100 of the aircraft maker's 737 Max 10 planes. Seagen Inc., down $10.24 to $168.47. The Wall Street Journal reported that Merck's acquisition of the biotechnology company is unlikely to be finalized before the end of the month. Synchrony Financial, up 9 cents to $31.48. The consumer financial services company reported earnings and revenue for its latest quarter that easily surpassed analysts' expectations. AMC Entertainment Holdings Inc., up $1.17 to $16.54. The movie theater chain said it had its busiest weekend of the year so far. Ashland Global Holdings Inc., up $1.99 to $100.74. The specialty chemicals maker reported preliminary results that beat Wall Street's forecasts and raised the outlook for its fiscal year. Clear Channel Outdoor Holdings Inc., up 17 cents to $1.23. The billboard advertising company is close to selling its British and European businesses to a private equity firm, the Daily Mail reported. Copyright (CopyRight) The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Source: KTAR News Jul 19, 2022: Goldman Sachs, ODP, Boeing rise; Seagen falls NEW YORK (AP) - Stocks that traded heavily or had substantial price changes Monday: ODP Corp., up $3.81 to $35.32. Office Depot's owner announced better-than-expected preliminary results, a bullish full-year forecast and a $600 million stock buyback. Goldman Sachs Group Inc., up $7.39 to $301.26. The investment bank reported quarterly results that easily beat analysts' expectations. Boeing Co., down 2 cents to $147.72. Delta Air Lines is ordering 100 of the aircraft maker's 737 Max 10 planes. Seagen Inc., down $10.24 to $168.47. The Wall Street Journal reported that Merck's acquisition of the biotechnology company is unlikely to be finalized before the end of the month. Synchrony Financial, up 9 cents to $31.48. The consumer financial services company reported earnings and revenue for its latest quarter that easily surpassed analysts' expectations. Advertising Skip Ad Skip Ad Skip Ad AMC Entertainment Holdings Inc., up $1.17 to $16.54. The movie theater chain said it had its busiest weekend of the year so far. Ashland Global Holdings Inc., up $1.99 to $100.74. The specialty chemicals maker reported preliminary results that beat Wall Street's forecasts and raised the outlook for its fiscal year. Clear Channel Outdoor Holdings Inc., up 17 cents to $1.23. The billboard advertising company is close to selling its British and European businesses to a private equity firm, the Daily Mail reported. Source: The Seattle Times Jul 19, 2022: Boeing, Airbus raise 20-year outlook for air cargo on express growth Continued growth in demand for shipping goods by air will translate into a global freighter fleet in 2041 that is 80% larger than today, Boeing said over the weekend in a market outlook slightly more bullish on air cargo than a year ago and compared to rival Airbus' new forecast. The rosier analysis explains why Boeing projects a need for 540 more dedicated cargo jets than Airbus over the next 20 years. The world's dominant jet manufacturers issued their visions of how the passenger and air cargo markets are likely to look 20 years from now on the eve of the prestigious Farnborough International Airshow in England, where they are expected to announce more aircraft deals. On Monday, All Nippon Airways finalized a recent expression of interest for two all-new 7777-8 freighters, and Delta Air Lines (NYSE: DAL) officially signed to buy 100 737-10 MAX single-aisle passenger jets. Also, Aircompany Armenia and partner company Georgian Airlines announced an order for three 737-800 Boeing Converted Freighters as part of the group's plan to add more dedicated cargo airplanes to its operations in the Caucasus region. Boeing projects air cargo volumes will achieve 4.1% compound annual growth over the next two decades, an uptick of one-tenth of a point from last year's report, based on expected growth in GDP, industrial production, global trade and e-commerce. The 10-year outlook envisions 4.3% growth. More conservative Airbus said freight traffic will grow at an annual rate of 3.2% through 2041, with the express sector outpacing general cargo at 4.9% versus 2.7% growth. The Airbus estimate is higher than last year, when it pegged express cargo growth at 4.7%. The express share of global cargo volume is expected to increase to 25% from 17% in 2019, it added. The U.S. aerospace giant, working its way back from the fallout of the pandemic, the 737 MAX grounding and production snafus with the 787 Dreamliner, predicted that sustaining that traffic will require nearly 2,800 additional freighters, including 940 new widebody models, to be delivered through 2041 - half to replace older, less fuel-efficient aircraft and half to support greater shipping demand. Two-thirds (1,855) of the additional cargo jets will be used passenger aircraft converted for a new mission, and 70% of those will be standard-body aircraft such as the Boeing 737 and Airbus A320/321 families. Boeing's commercial market outlook counted 2,250 jet freighters around the world at the end of last year, up from 2,010 before the pandemic as operators delayed retirements and pulled older planes out of deep storage to support the boom in cargo demand after airlines halted most passenger flying. The company's 2041 forecast for the fleet to reach 3,610 units with a 3% average annual growth rate represents a nearly 7% increase over last year, reflecting expectations for higher traffic growth and replacement needs. Estimates for factory-built and converted freighters are higher than in the 2021 outlook. In the narrowbody segment, the global fleet is projected to nearly double (plus 90%) from 2021, with widebody growth of 75%. Boeing said half of its current 660 large freighters are nearing retirement age and that the industry will require 515 units for replacement and growth needs. Last year it estimated a need for 450 new large widebody freighters. Airbus' lower estimate for air cargo demand influenced its projection for freighter needs. The European airframer said the industry will need 2,440 cargo jet deliveries, with nearly 900 of those from new production and the remainder modified passenger aircraft. It puts the total freighter fleet at 3,070 units in 2041, with 1,400 representing replacement aircraft, 1,040 coming from growth and 630 current units remaining in operation. The freighter estimate over 20 years increased from 2,980 aircraft in the 2021 outlook. Source: FreightWaves Jul 19, 2022: Boeing and Alder Fuels Partner to Scale Sustainable Aviation Fuel Globally FARNBOROUGH, United Kingdom, July 18, 2022 /PRNewswire/ -- Boeing [NYSE: B.A.] and Alder Fuels today announced a new partnership to expand production of sustainable aviation fuel (SAF) around the world. Using Boeing airplanes, the companies will test and qualify Alder-derived SAF, advance policies to expedite the transition to renewable energy in aviation, and grow the amount of SAF for the global aerospace market. Alder Fuels' proprietary technology enables the efficient conversion of abundant, sustainable forest residues and regenerative biomass into a low-negative carbon "greencrude" for jet fuel conversion. The Alder product is suitable for conversion into drop-in SAF, meaning it can be produced by existing refineries with their current equipment and infrastructure. Alder expects completion of its first plant in 2024. "As we work toward the civil aviation industry's commitment to net zero carbon emissions by 2050, we know that 700 - 1,000 times more SAF is needed in order to meet this goal," said Sheila Remes, Boeing's vice president of Environmental Sustainability. "We also know that according to the U.S. Department of Energy, U.S. forestry and agricultural residues alone could provide enough biomass energy to generate enough SAF jet fuel to displace 75 percent of U.S. aviation fuel consumption. Partnerships like those with Alder enable us all to advocate for and scale SAF supply." Boeing will support testing and qualification of Alder-derived SAF including flight demonstrations to ensure readiness. According to the Air Transport Action Group, an industry coalition focused on sustainability, the single largest opportunity to meet and go beyond the industry's 2050 goal is the rapid and worldwide scaling up of sustainable aviation fuel and new energy sources. In January 2021, Boeing committed to deliver 100% SAF-capable airplanes by 2030 and is also using SAF in its own operations while working across the globe to scale up the supply of SAF. "Alder's technology offers a future of gathering energy to power aircraft, instead of drilling for it, by converting widely available sustainable biomass into a sustainable product for refining into SAF," said Alder Fuels CEO Bryan Sherbacow. "We can now scale up supply to meet the aviation industry's demand. This partnership with Boeing will expedite SAF availability around the globe, advance policies that ensure sustainability and foster environmental justice, and cultivate local economies." Prior to founding Alder Fuels, Sherbacow developed and led the world's first SAF refinery in Paramount, California. The Alder Team has been at the forefront of developing new methods for producing SAF, commercializing its use, developing public policy for the sector, and leading efforts for widespread industry adoption. Boeing has been a pioneer in making SAF a reality. The company has worked with airlines, engine manufacturers and other industry leaders to qualify and conduct biofuel test flights in 2008 and gain approval for commercial use in 2011. In 2018, the Boeing ecoDemonstrator flight test program made the world's first commercial airplane flight using 100% sustainable fuels with a 777 Freighter, in collaboration with FedEx Express. In addition, Boeing partnered with U.S. government customers on SAF initiatives which include SAF flight tests with the U.S. Navy on an F/A-18 Super Hornet and with an in-depth fuel study with the Air Force as part of their efforts to certify the C-17 Globemaster to use SAF. Source: PR Newswire Jul 19, 2022: Israel Aerospace Industries Receives EASA Approval For Boeing 737 Conversions Israel Aerospace Industries (IAI) has received type certification from the European Aviation Safety Authority (EASA) for its Boeing 737-800BDSF passenger-to-freighter conversions. The company will now be able to work with European operators looking to convert their 737s into freighters. EASA grants type certification for 737 freighter conversions The EASA has granted a Supplemental Type Certificate (STC) to Israel Aerospace Industries that will allow the Israeli company to offer its Boeing 737-800 P2F services in Europe. The aerospace manufacturer has been given the go-ahead to open its Boeing 737-800BDSF cargo conversions to European operators and has already delivered two converted planes to a Spanish customer. SIMPLEFLYING VIDEO OF THE DAY Close Boaz Levy, IAI President and CEO, said, "Receiving the EASA STC for the B737-800 will allow us to provide a solution to the increased market demand, in Europe and worldwide, for the freighter aircraft of this model. As the global leader in passenger-to-freighter conversions, IAI has a number of conversion sites globally, and will now be able to provide potential customers with increased access to our world-class conversions." IAI is already certified for the Boeing 737-800BDSF by the US Federal Aviation Administration (FAA), the Civil Aviation Authority of Israel (CAAI), and the Civil Aviation Administration of China (CAAC). Certification arrives at an opportune time for IAI as demand for P2F conversions remains high. IAI's Aviation Group's EVP and GM Shmuel Kuzi added, "We are excited to expand our 737-800BDSF conversions to Europe and bring the most cost-effective solution to the rising demand for conversions of this aircraft. Receiving the EASA STC is a major milestone for IAI and for the aviation industry, especially for the European market. We will continue expanding our operations and conversions of other aircraft models to provide the best solution to customers worldwide." This week, Boeing announced a new order for three 737-800BCFs placed by Aircompany Armenia, to be operated by Georgian Airlines. Conversions will be carried out by Guangzhou Aircraft Maintenance Engineering Company Limited (GAMECO) and Taikoo (Shandong) Aircraft Engineering Co. Ltd. (STAECO) in China. Source: Simple Flying Jul 19, 2022: The Boeing Company Does it Again: Heads Up for the 3rd Straight Day The Hourly View for The Boeing Company Currently, BA's price is down $-0.75 (-0.49%) from the hour prior. This is the 2nd hour in a row The Boeing Company has seen its price head down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment - meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The Boeing Company's hourly price chart is shown below. The Daily View for The Boeing Company At the moment, BA's price is up $4.06 (2.75%) from the day prior. It's been a feast for bulls operating on the daily timeframe, as The Boeing Company has now gone up 4 of the past 5 days. As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment - meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. Below is a daily price chart of The Boeing Company. Featured The Boeing Company Idea From TradingView Below is a trading comment entitled BA - Dead Since 2018 you may find interesting: Chart request for @Othman07, Here is BA with SPX overlaid.BA bull run ended in 2018 along with stock indexes topping. It has been in a downtrend ever since. And so for anyone that held since then they would currently be down 60% whereas if they put their money in SPX they'd be up 36%.https://www.tradingview.com/x/fJYkr6Yd/Since 2018 BA chart has been terrible. Source: CFDTrading Jul 18, 2022: Boeing chief defends his record amid production delays Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour. https://www.ft.com/content/a5735537-43af-4ddf-b119-7216b6000ccf Boeing chief executive Dave Calhoun has defended his record at America's largest aerospace company, insisting that he has sharpened its focus on engineering and that the indebted group could launch a new aircraft without having to raise money from shareholders. Calhoun said the company had made significant progress since he took the top job two-and-a-half years ago, when Boeing was reeling from the grounding of its 737 Max following two crashes. "We all have to put two-and-a-half years in perspective, and what we've done as a leadership team to get ahead of each and every one of our big issues and no they are not complete," Calhoun said in an interview. But a series of production delays and challenges have brought Boeing's shares down 30 per cent this year compared with an 11 per cent decline in those of its arch rival Airbus. Deliveries of its wide-body 787 Dreamliner remain on hold following quality control issues while there are questions over the approval of its 737 Max 10 jet by the US Federal Aviation Administration (FAA). Stabilising the production of the 737 Max jet is another key challenge. Yet speaking to the Financial Times in London on the eve of the biennial Farnborough Air Show, the 65-year-old Calhoun struck a bullish tone about Boeing's prospects. Reflecting on his tenure since he took over in January 2020, Calhoun said "I'm actually feeling pretty good about the moment". "The most difficult of our crises is being managed effectively. It's not done and that's the Max. But we're still returning aeroplanes to service for our customers." Dave Calhoun, chief executive officer of Boeing Dave Calhoun, chief executive officer of Boeing: 'I'm actually feeling pretty good about the moment' (CopyRight) Christopher Pike/Bloomberg Demand from airlines for new planes, he added, had rebounded strongly following a pandemic that plunged the aviation industry into its biggest crisis in decades. "We're in full recovery mode on demand," he said. Calhoun was "comfortable" that regulatory approvals to allow the resumption of deliveries of the 787 would happen, but declined to offer a specific timeline. Regarding the 737 Max, the company was focused on ensuring it could reliably produce 31 planes a month. Delays in the delivery of the 737 Max have drawn direct criticism of Boeing's leadership from some of its biggest customers, including Michael O'Leary, the chief executive of low-cost carrier Ryanair. Calhoun said he took O'Leary's comments "very seriously, because if we deliver a new aeroplane even a day late, that affects his business". He stressed, however, that his team was focused on a consistent production rate, adding: "My team is wrestling with this every day. I love them and I know we will get there." Nevertheless, supply chain constraints continue to disrupt the industry. Stan Deal, who is head of commercial aeroplanes at Boeing, highlighted engine delays and shortages of semiconductors and other parts, as a key issue. Calhoun also sought to address concerns over the group's engineering culture, saying that he had shaken up the group's management structures and put people closer to the operational centres. One of his first acts when he took over was to ask Greg Hyslop, Boeing's chief engineer, to leave his Chicago office and move to Seattle, the company's main commercial aircraft manufacturing base. "My emphasis is distributed management, leadership close to the action," said Calhoun. Hyslop told the FT that "I don't believe we've ever had a cultural issue around engineering at the Boeing Company. I do believe there were changes needed, [to] strengthen engineering, and provide more of a degree of independence for engineering". One of the strategic conundrums facing Boeing is how to close the gap with Airbus, which has extended its lead in the lucrative market for single-aisle aircraft that serve short and medium-haul destinations. The European aerospace group, which has an almost 60 per cent market share, recently secured a $37bn order from Chinese state airlines. "I'm in 40 per cent [of the market]," said Calhoun. "And if the marketplace saw me delivering stably at 40 per cent they would be head over heels ecstatic. I think I'll be better than 40 per cent if I can get back on an equal footing in China." Analysts have said Boeing needs to launch a new plane to take on Airbus' best-selling A321neo, with some suggesting it will need to raise equity to do so given its $45bn of net debt. Calhoun played down that any launch was imminent, saying that advances in engine technology did not yet make it worthwhile. "The question about when you introduce a new commercial aeroplane . . . has to do with the technology readiness with respect to the propulsion packages . . . and whether they're going to create a big enough difference for the marketplace to then go out and place orders and I don't think we're at that threshold." When the time is right Boeing could launch a new plane without raising new equity, according to Calhoun, as the company's engineers are already building the digital infrastructure to enable the next plane, which will reduce the development time. "It's important that those [technologies] be proven and available, the biggest one being the digital model, the digital twin for that development. And that is in full force," he said. By the time Boeing needed to spend money, Calhoun added, the "cash flow numbers will be significantly different and in my view, more than that". "I believe it will be the ability to run a digital twin on a new commercial aeroplane that will enable us to reduce development time, strengthen product and factory safety and improve financial outcomes," he said. Source: Seeking Alpha Jul 18, 2022: Stocks making the biggest moves midday: Goldman Sachs, Delta, Boeing, Tesla and more Goldman Sachs - The bank stock jumped 3% after the company posted profit and revenue that exceeded analysts' estimates. Goldman's fixed income traders generated roughly $700 million more revenue than expected on "significantly higher" trading activity in interest rates, commodities and currencies. Delta Air Lines, Boeing - Shares of Delta Air Lines jumped 5.8% on news that it's purchasing 100 Boeing 737 Max 10 planes, in a deal that marks Delta's first new Boeing aircraft order in over a decade. Boeing shares added 2.4% following the news. Tesla - Shares rose nearly 4% after Deutsche Bank added the company to its short-term buy list, citing the potential for it to exceed Wall Street expectations when it reports earnings. Tesla reports quarterly earnings on Wednesday. Grab Holdings - The food delivery stock jumped 12% after JPMorgan upgraded Grab to overweight form neutral. JPMorgan described the sentiment around Grab as "extremely cautious," setting up a potential bounce if quarterly results beat expectations Coinbase - Shares jumped nearly 15% after DNB Asset Management, a large European asset manager, bought shares of the cryptocurrency exchange. Bitcoin also surged to a monthly high. Energy stocks - Industry shares spiked as the price of oil jumped on fears that supply will remain tight. Natural gas also surged 7%, adding to energy sector gains. Diamondbank Energy, Marathon Oil, Halliburton and Devon Energy all gained about 4%. Enphase Energy jumped about 8%. Source: CNBC Jul 18, 2022: Boeing (BA) Stock: Why It Increased Over 4% Today he stock price of Boeing Co (NYSE: BA) increased by over 4% pre-market today. Investors responded positively to Boeing unveiling a new data modeling tool to show the most effective scenarios for reaching the destination by 2050. This model includes consultation with leading universities and will continue to be used with key stakeholders. Plus the company also shared illustrative hydrogen and electric concepts that could power the future of flight. Boeing Chief Sustainability Officer Chris Raymond had demonstrated Cascade, a data modeling tool Boeing created with consulting from leading universities. And the tool appraises Boeing's major paths to decarbonize aviation and their potential power to reduce emissions through: - Airplane fleet renewal - Renewable energy sources such as sustainable fuel, hydrogen, electric propulsion - Operational efficiency improvements - Advanced technologies The Cascade model essentially assesses the full lifecycle impacts of renewable energy by accounting for the emissions required to produce, distribute and use alternative energy carriers such as hydrogen, electricity, and Sustainable Aviation Fuels (SAF). And Boeing plans to utilize the Cascade tool with airline operators, industry partners, and policymakers to inform when, where, and how different fuel sources intersect with new airplane designs. freestar As part of the 'SAF and' approach, Boeing is continuing to advance the safety and viability of other renewable energy sources and their use on aircraft. And since the mid-2000's, Boeing has conducted six hydrogen technology demonstrations with crewed and uncrewed aircraft using hydrogen fuel cells and combustion engines. Last year, Boeing successfully tested a cryotank designed for space with the capacity to hold 16,000 gallons of liquid hydrogen or the energy equivalent of the Jet A fuel in a typical regional jet. Aside from its work on hydrogen applications, Boeing invested in electric-powered aircraft through its joint venture Wisk, which is working to bring to market the first all-electric, autonomous air taxi in the U.S. Wisk's current all-electric, eVTOL aircraft - on display at the Farnborough Airshow - has conducted over 1,600 successful test flights. Source: Pulse 2.0 Jul 18, 2022: SAF Drive: Boeing Becomes Founding Member Of UK Innovation Center Boeing is gearing up to become a leading force in the development of sustainable aviation fuel (SAF) by becoming a founding member of a research center in the UK. The US planemaker has a significant presence in the United Kingdom, and its latest involvement is another one of its key partnerships in the region, this time giving it access to a one-of-its-kind research facility to help make aviation more sustainable. Boeing to help develop SAF A key announcement at this year's Farnborough Airshow has come from Boeing, which has become the founding member of the University of Sheffield's Energy Innovation Centre (EIC), which is expected to help drive the development of SAF. SIMPLEFLYING VIDEO OF THE DAY Close Brian Moran, Boeing's vice president of Global Sustainability Policy and Partnerships, commented, "In order for the aviation industry to meet its net zero carbon emissions commitment by 2050 it will take all of us collaborating and investing in scientific research and testing. We are honoured to partner with the University of Sheffield on the UK's first major SAF hub, which highlights our global commitment to developing SAF as a safe, proven, near-term solution to decarbonise aviation." Source: Simple Flying Jul 15, 2022: Critical Review: Vertical Aerospace (NYSE: EVTL) and Boeing (NYSE: BA) Boeing (NYSE:BA - Get Rating) and Vertical Aerospace (NYSE:EVTL - Get Rating) are both aerospace companies, but which is the better business? We will compare the two businesses based on the strength of their analyst recommendations, dividends, earnings, risk, valuation, institutional ownership and profitability. Boeing has a beta of 1.36, meaning that its share price is 36% more volatile than the S&P 500. Comparatively, Vertical Aerospace has a beta of 0.25, meaning that its share price is 75% less volatile than the S&P 500. Insider & Institutional Ownership 54.0% of Boeing shares are owned by institutional investors. Comparatively, 77.6% of Vertical Aerospace shares are owned by institutional investors. 0.1% of Boeing shares are owned by insiders. Strong institutional ownership is an indication that large money managers, hedge funds and endowments believe a company is poised for long-term growth. The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital. The Commercial Airplanes segment provides commercial jet aircraft for passenger and cargo requirements, as well as fleet support services. The Defense, Space & Security segment engages in the research, development, production, and modification of manned and unmanned military aircraft and weapons systems; strategic defense and intelligence systems, which include strategic missile and defense systems, command, control, communications, computers, intelligence, surveillance and reconnaissance, cyber and information solutions, and intelligence systems; and satellite systems, such as government and commercial satellites, and space exploration. The Global Services segment offers products and services, including supply chain and logistics management, engineering, maintenance and modifications, upgrades and conversions, spare parts, pilot and maintenance training systems and services, technical and maintenance documents, and data analytics and digital services to commercial and defense customers. The Boeing Capital segment offers financing services and manages financing exposure for a portfolio of equipment under operating leases, sales-type/finance leases, notes and other receivables, assets held for sale or re-lease, and investments. The company was incorporated in 1916 and is based in Chicago, Illinois. Source: Defense World Jul 15, 2022: Boeing looks to enter new era of safety SEATTLE - Boeing is working to bolster its safety culture in the wake of two deadly 737 MAX crashes that forever changed one of the northwest's oldest companies. Changes, outlined in the company's new Chief Aerospace Safety Officer Report, are meant to improve the entire safety culture and reputation of Boeing. The changes within the company aim to improve manufacturing operations at Boeing and allow employees to more openly share concerns that may someday result in real-life problems. Also, the lines of communication between airline pilots and crews are being reworked to allow better feedback on the airplanes made by Boeing. "We said, what are the things we can do to really improve our safety processes," said Al Madar, Deputy Chief Safety Officer at Boeing. Madar said the new internal program called 'Speak Up', is already showing signs of success. Since implemented, the company said it's noticed a 32% increase in employees filing internal quality and safety reports. >> Download KING 5+, our new Roku and Amazon Fire apps, to watch live coverage 24/7 "Safety has always been, something that's been very important to Boeing," Madar said. "The purpose of this is to put a very structured process in place, that's data-driven, that really takes on safety and a different way." Unprecedented scrutiny was placed on Boeing in the wake of two deadly MAX crashes that resulted in the death of 346 passengers and crewmembers. Investigations revealed a lack of such a safety framework, which contributed to breakdowns that lead to the plane's flawed design. Madar met with KING 5 in Boeing's Safety Promotion Center in Everett. It's a space designed to remind employees of the importance of safety, and the way past disasters have led to real safety changes on airplanes. Source: KING 5 Jul 15, 2022: SpiceJet Hit With 9th Malfunction In 24 Days: Boeing B737 MAX's Nose Wheel Malfunctioned On This Route DGCI Confirms Ninth Incident Of Malfunction With SpiceJet Plane The Directorate General of Civil Aviation (DGCA) has stated that 'alternate aircraft were arranged which brought passengers back to India.' the issue was resolved later and the 737 MAX aircraft flew back. The aircraft with the registration VT-SZK traveled from Mangaluru to Dubai, according to the DGCA. An engineer performed a walk-around examination after landing and discovered the nose wheel strut was compressed more than usual. The delay resulted from the engineer's decision to ground the aircraft. As per a spokesperson of Spicejet, "Flight delays can happen with any airline. There has been no incident or a safety scare on this flight." Shockingly, this is the ninth confirmed incident that involved a SpiceJet plane in the last 24 days only. SpiceJet Encountered 8 Safety Malfunctions In 18 Days As per DGCA, the company has failed to comply with the Aircraft Rules,1937 as it failed to establish safe, efficient, and reliable air services. As per the DGCA's September 2021 audit, the component suppliers were not being paid on a regular basis, leading to shortage of spare parts. Aviation Minister Jyotiraditya Scindia took to Twitter, after sharing the notice issued by DGCA, that passenger safety is paramount. On multiple occasions, DGCA said that the aircraft would either return back to its originating station or continued landing to the destination with degraded safety margins. DGCA, after the developments, issued a show-cause notice asking why "action should not be taken against the company." SpiceJet in a statement said that while the company is committed to ensuring a safe operation for its passengers and crew, it will respond to the notice within the specified time period. Ajay Singh, Chairman and Managing Director of SpiceJet said that it is not due to the shortage of spare parts that these malfunctions happened. Source: Trak.in Jul 15, 2022: Boeing (NYSE: BA) Price Target Cut to $188.00 Boeing (NYSE:BA - Get Rating) had its price target decreased by analysts at JPMorgan Chase & Co. from $190.00 to $188.00 in a note issued to investors on Wednesday, The Fly reports. The brokerage currently has an "overweight" rating on the aircraft producer's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 27.76% from the stock's previous close. Several other equities research analysts also recently issued reports on BA. Royal Bank of Canada cut their price target on Boeing from $220.00 to $200.00 and set an "outperform" rating for the company in a report on Tuesday. Susquehanna cut their price target on Boeing from $193.00 to $192.00 in a report on Friday, May 20th. Wells Fargo & Company cut their price target on Boeing from $250.00 to $214.00 in a report on Thursday, April 28th. The Goldman Sachs Group set a $288.00 price target on Boeing and gave the company a "buy" rating in a report on Wednesday. Finally, Bank of America dropped their target price on Boeing from $180.00 to $150.00 in a report on Tuesday, May 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Boeing presently has an average rating of "Moderate Buy" and a consensus target price of $223.94. Get Boeing alerts: NYSE BA opened at $147.15 on Wednesday. The business has a 50 day simple moving average of $133.86 and a 200 day simple moving average of $172.86. Boeing has a 52-week low of $113.02 and a 52-week high of $241.15. The stock has a market cap of $87.06 billion, a price-to-earnings ratio of -17.79 and a beta of 1.36. Boeing (NYSE:BA - Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The aircraft producer reported ($2.75) EPS for the quarter, missing the consensus estimate of ($0.26) by ($2.49). The firm had revenue of $13.99 billion during the quarter, compared to the consensus estimate of $15.90 billion. The company's revenue was down 8.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.53) earnings per share. Analysts anticipate that Boeing will post -0.86 EPS for the current fiscal year. Several hedge funds and other institutional investors have recently modified their holdings of the stock. Gofen & Glossberg LLC IL increased its position in shares of Boeing by 9.2% in the second quarter. Gofen & Glossberg LLC IL now owns 168,385 shares of the aircraft producer's stock worth $23,022,000 after purchasing an additional 14,247 shares during the period. Krilogy Financial LLC increased its position in shares of Boeing by 48.6% in the second quarter. Krilogy Financial LLC now owns 15,921 shares of the aircraft producer's stock worth $2,177,000 after purchasing an additional 5,209 shares during the period. Raymond James Trust N.A. grew its position in Boeing by 5.3% in the second quarter. Raymond James Trust N.A. now owns 22,182 shares of the aircraft producer's stock valued at $3,033,000 after acquiring an additional 1,110 shares during the last quarter. Steigerwald Gordon & Koch Inc. grew its position in Boeing by 2.3% in the second quarter. Steigerwald Gordon & Koch Inc. now owns 40,655 shares of the aircraft producer's stock valued at $5,558,000 after acquiring an additional 923 shares during the last quarter. Finally, Ballast Inc. grew its position in Boeing by 34.0% in the second quarter. Ballast Inc. now owns 5,839 shares of the aircraft producer's stock valued at $798,000 after acquiring an additional 1,480 shares during the last quarter. Institutional investors own 53.96% of the company's stock. Source: Defense World Jul 15, 2022: The Boeing Company Closed Yesterday Up 0.01% The Hourly View for The Boeing Company Currently, BA's price is up $0.33 (0.23%) from the hour prior. It's been a feast for bulls operating on an hourly timeframe, as The Boeing Company has now gone up 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on The Boeing Company. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning above it. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment - meaning the shorter durations are above the longer duration averages, implying a sound upward trend. Source: CFDTrading Jul 15, 2022: Q4 2022 EPS Estimates for The Boeing Company Decreased by Jefferies Financial Group (NYSE: BA) The Boeing Company (NYSE:BA - Get Rating) - Investment analysts at Jefferies Financial Group dropped their Q4 2022 earnings estimates for shares of Boeing in a research note issued to investors on Tuesday, July 12th. Jefferies Financial Group analyst S. Kahyaoglu now anticipates that the aircraft producer will post earnings per share of $0.37 for the quarter, down from their previous forecast of $0.38. Jefferies Financial Group currently has a "Buy" rating and a $225.00 price target on the stock. The consensus estimate for Boeing's current full-year earnings is ($0.86) per share. Get Boeing alerts: Other analysts have also recently issued reports about the stock. StockNews.com cut shares of Boeing from a "hold" rating to a "sell" rating in a research note on Friday, May 6th. Susquehanna decreased their target price on shares of Boeing from $193.00 to $192.00 in a research report on Friday, May 20th. UBS Group set a $263.00 price target on Boeing and gave the stock a "buy" rating in a research report on Thursday, April 28th. Benchmark decreased their price objective on Boeing from $270.00 to $250.00 and set a "buy" rating for the company in a report on Friday, April 22nd. Finally, Susquehanna Bancshares dropped their target price on Boeing from $193.00 to $192.00 and set a "positive" rating on the stock in a report on Friday, May 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $223.94. Shares of Boeing stock opened at $147.15 on Thursday. The firm has a market capitalization of $87.06 billion, a P/E ratio of -17.79 and a beta of 1.36. The company has a 50 day moving average price of $133.86 and a 200 day moving average price of $172.86. Boeing has a 52 week low of $113.02 and a 52 week high of $241.15. Boeing (NYSE:BA - Get Rating) last announced its quarterly earnings data on Wednesday, April 27th. The aircraft producer reported ($2.75) EPS for the quarter, missing the consensus estimate of ($0.26) by ($2.49). The company had revenue of $13.99 billion for the quarter, compared to analysts' expectations of $15.90 billion. The firm's revenue was down 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.53) earnings per share. Hedge funds have recently made changes to their positions in the company. Bowling Portfolio Management LLC raised its stake in shares of Boeing by 4.1% during the 1st quarter. Bowling Portfolio Management LLC now owns 3,787 shares of the aircraft producer's stock worth $725,000 after buying an additional 148 shares during the period. Creative Financial Designs Inc. ADV increased its position in shares of Boeing by 14.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 2,587 shares of the aircraft producer's stock worth $495,000 after purchasing an additional 317 shares in the last quarter. Douglas Lane & Associates LLC increased its position in shares of Boeing by 4.0% during the first quarter. Douglas Lane & Associates LLC now owns 3,635 shares of the aircraft producer's stock worth $696,000 after purchasing an additional 140 shares in the last quarter. Allworth Financial LP increased its position in shares of Boeing by 11.3% during the fourth quarter. Allworth Financial LP now owns 10,140 shares of the aircraft producer's stock worth $2,041,000 after purchasing an additional 1,029 shares in the last quarter. Finally, RDA Financial Network increased its position in shares of Boeing by 11.8% during the first quarter. RDA Financial Network now owns 5,034 shares of the aircraft producer's stock worth $964,000 after purchasing an additional 532 shares in the last quarter. 53.96% of the stock is owned by institutional investors and hedge funds. Boeing Company Profile (Get Rating) The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital. Source: Defense World Jul 15, 2022: Associate Full-Stack Software Engineer Job Description At Boeing, we innovate and collaborate to make the world a better place. From the seabed to outer space, you can contribute to work that matters with a company where diversity, equity and inclusion are shared values. We're committed to fostering an environment for every teammate that's welcoming, respectful and inclusive, with great opportunity for professional growth. Find your future with us. The Boeing Company is currently seeking an Associate Full-Stack Software Engineer to work in either Chantilly, VA, Fairfax, VA, Aurora, CO, or Mountain View, CA locations. We're seeking a highly talented, motivated, and creative software developer to engineer new solutions and support existing capabilities of an agile software program for the national intelligence community. Primary Responsibilities: Analyzing high level customer requirements and deriving lower level functional requirements. Software development tasks including detailed software design, coding, and unit/integration/functional/system testing of customer desired features/user stories. Briefing software designs and demonstrating software release functionality to customer/stakeholders/end users. Develop and sustain new and existing applications; as well as troubleshoot and resolve various software issues. Contribute to the creation of new distributed components and interactions that align with the future system architecture. The existing multi-tiered system is developed on a cloud infrastructure with several consumer-facing web applications. Occasional business travel and after hours support may be required. Basic Qualifications: **Top Secret/SCI U.S. Security Clearance. ***MUST BE WILLING TO SIT FOR A CI POLYGRAPH AFTER START DATE*** This position requires an active Top Secret with SCI eligibility U.S. Security Clearance. (ship is required) (A U.S. Security Clearance that has been active in the past 24 months is considered active). Foundational knowledge of object-oriented design and software patterns (1+ years) Knowledge of Git or other DVCS Must possess a Bachelor's degree or higher in Computer Science, Computer Engineering, Software Engineering, Systems Engineering, Aerospace or related technical Desired Qualifications: Solid experience in Java (1+ years) Experience with one or more of the following: HTML 5, CSS 3, Javascript, Firebug and JS frameworks (REACT, jQuery, jQuery UI, Open Layers, etc.), Spring Framework, Hibernate, RDBMS, MongoDB, XML, SOAP, REST, WSDL/Web Service protocols Experience using dependency management (Ivy, Maven, Gradle) Experience developing and maintaining SOAP, RMI, REST APIs and interfaces Experience using cloud based infrastructure (AWS) Experience using automation server (Jenkins) Experience/knowledge of the GEOINT domain Familiarity with practices such as test-driven development (TDD), agile software development, continuous integration, and dependency management is preferred. Typical Education/Experience: Education/experience typically acquired through advanced technical education from an accredited course of study in engineering, computer science, mathematics, physics or chemistry (e.g. Bachelor) and typically 2 or more years' related work experience or an equivalent combination of technical education and experience (e.g. Master). In the USA, ABET accreditation is the preferred, although not required, accreditation standard. Relocation: This position offers relocation based on candidate eligibility. Basic relocation is available for internal candidates. Referral Bonus: Referral to this job is eligible for bonus Drug Free Workplace: Boeing is a Drug Free Workplace where post offer applicants and employees are subject to testing for marijuana, cocaine, opioids, amphetamines, PCP, and alcohol when criteria is met as outlined in our policies. Shift (US Specific): This position is for 1st shift Equal Opportunity Employer: Boeing is an Equal Opportunity Employer. Employment decisions are made without regard to race, color, religion, national origin, gender, sexual orientation, gender identity, age, physical or mental disability, genetic factors, military/veteran status or other characteristics protected by law. Source: Dice Jul 14, 2022: AEI HorizonX Ventures Joins Shift5 Series B Funding Round Arlington, VA, July 14, 2022 (GLOBE NEWSWIRE) -- Shift5, the OT cybersecurity company that defends military platforms and critical transportation systems from cyberattacks, today announced that AEI HorizonX, AE Industrial Partners' venture capital group formed in partnership with The Boeing Company, has joined the company as an investor in its oversubscribed Series B funding round led by Insight Partners. Through the longevity and deep networks of AE Industrial Partners and Boeing, AEI HorizonX will enable Shift5 to capitalize on its momentum within the broader aviation ecosystem. "Amid a shifting regulatory environment, Shift5 brings to market a solution that has been long-needed in the aviation ecosystem," said Brian Schettler, Partner, Head of AEI HorizonX. "The company's ability to transform previously inaccessible data from within aircraft into useful insights, paired with the credibility of the company's founders and its extensive work within the U.S. Department of Defense, make clear that Shift5 is blazing a trail that many will follow." Shift5 unlocks the serial networks and data that control planes, trains, and tanks, providing visibility into fleet assets where operators have historically been locked out. Shift5 allows operators to gain complete observability, detect threats, and maintain resilience of operational technology (OT) systems as cyber-physical attacks become an increasingly attractive strategy for digital attackers. By providing visibility into the data that powers their most expensive, longest-lived, and most consequential fleet assets, Shift5 allows rail, aerospace, and defense companies to make data-informed decisions once considered impossible, to improve cybersecurity and increase operational efficiency. "As security leaders from CISA and FBI warn critical infrastructure operators about the risk of cyberattacks, it's imperative that the transportation and defense industries heed these warnings," said Josh Lospinoso, CEO and co-founder, Shift5. "The only way for aerospace and defense operators to ensure the resiliency of their business-critical assets is by gaining complete visibility into them. Access to OT data enables teams to have more productive discussions and make mission-critical decisions in real-time. We're thrilled to work with AEI to bring modern cybersecurity capabilities and situational awareness to planes, trains, and tanks." "There's a direct correlation between the OT data Shift5 can access and value delivered to an organization. The depth of access, accuracy of information, and usability of insights enable customers to gain federal compliance with strict industry regulations, make smarter business decisions, and enable greater safety aboard fleet assets," said Joe Lea, President, Shift5. "Working with AEI will amplify our ability to help aerospace and defense organizations capitalize on the data existing above the wheels of their planes and weapon systems." To learn more about how the Shift5 is unlocking operational technology (OT) to help the world's transportation and weapon systems defend against cyberattacks and improve operations, please visit https://shift5.io. Source: GlobeNewswire Jul 14, 2022: COMAC is building Chinese jetliners and wants to take on Airbus and Boeing China's three largest domestic airlines have just placed a massive order of 240 billion yuan ($32.75 billion) with Airbus for 292 A320 NEO aircraft, but over the next few decades, China's skies will increasingly feature Chinese-made jetliners. On Tuesday, flight MU5264 from Shantou in Guangdong Province landed safely at Shanghai's Pudong Airport. The aircraft used was the ARJ21, a 78-90-seat regional passenger aircraft that was manufactured in China by the Commercial Aircraft Corporation of China (COMAC) 中国商用飞机, the state-owned large passenger aircraft manufacturer founded in 2008, whose investors include the State-Owned Assets Supervision and Administration Commission (SASAC), Aviation Industry Corporation of China (AVIC) 中国航空工业集团, Aluminum Corporation of China (CHALCO) 中国铝业股份, China Baowu Steel Group 中国宝武钢铁集团, and Sinochem 中国中化. According to Xinhua, Tuesday's successful flight was an important milestone for the ARJ21 and for COMAC: After the ARJ21's first successful test flight in 2008, it has now safely transported five million passengers, a milestone in the civil aviation industry that has confirmed the aircraft's safety and reliability. So far, COMAC has received orders for 670 ARJ21s from 20 clients. COMAC, informally known as "the big plane company" in China, is currently testing the first serious Chinese competitor to Airbus and Boeing: The COMAC919, or C919, is the first large passenger aircraft independently developed in China. The C919 is a large, narrow-body aircraft with a seating capacity of between 168 and 190 people. With its first successful test flight in 2017, the C919 has been flying around Chinese cities over the last few months, and its full certification is expected any day now. The first C919 to be delivered to a client, China Eastern Airlines 中国东方航空, is currently conducting test flights over Shanghai and Shandong Province. COMAC has received 815 orders amounting to $74 billion for the C919 (whose performance COMAC compares with the Airbus A320 and Boeing 737) from 28 clients, and 34 planes have been bought by overseas clients. With a price tag of $99 million, the C919 will be cheaper than the Airbus A320 NEO ($110 million) and the Boeing B737 MAX 8 ($120 million). In addition to the ARJ21 and C919, COMAC is also developing an even larger aircraft, the CR929, a long-range 250-to-320-seat wide-body airliner, in a joint venture with United Aircraft Corporation of Russia, with the first test flight expected sometime during or after 2025. The context The C919's imminent full certification will be a historic moment for China. Following Chairman Mao Zedong's 毛泽东 instruction in 1970 that China should be able to build large aircraft, the Yun-10, a four engine, narrow-body airliner with a capacity of 178, first flew in 1980, but the project was shelved five years later. Many of the same engineers, however, then started working on the ARJ21, which was developed in cooperation with McDonnell Douglas, which later merged with Boeing in 1997. After 8,220 failed test flights, a "bird strike test" that sacrificed more than 1,000 chickens, and various supply problems, the ARJ21 finally entered service in June 2016 with Chengdu Airlines 成都航空. Almost a year later, the C919 made its first test flight, setting COMAC on the path of transforming the Airbus-Boeing duopoly into the "ABC" triopoly: By 2040, COMAC expects to gain a global market share of about 15%. The Chinese government has attached great importance to the development of independent aviation technology: In December 2021, the State Council released a plan for transportation that prioritized the development of the C919. In January 2022, the Civil Aviation Administration of China (CAAC), the National Development and Reform Commission (NDRC), and the Ministry of Transport issued the 14th Five-Year Plan for Civil Aviation Development to further promote the continued development of the C919 and other aircraft. Yet COMAC's chances of becoming the "C" in "ABC" are dependent on continued high-level openness and international cooperation, especially with Airbus and Boeing, and likewise with the U.S. and Europe. The civil aviation industry is a capital-, technology-, and talent-intensive industry dependent on a large industrial chain; achieving economies of scale require massive technical expertise for large-scale production, cost controls, and stringent quality and safety standards. No single country can undertake this all on its own, and as long-established manufacturers, Airbus and Boeing, whose industrial chains are mutually dependent, are surrounded by a high-tech wall that poses a formidable barrier for newcomers like COMAC. According to a report by the Aviation Industry Development Research Center of China, from 2021 to 2040, the Chinese market will need to add 7,646 passenger aircraft, including 1,561 large aircraft like the C919, and 5,276 regional aircraft like the ARJ21. In order to be sustainable, COMAC will need to capture at least a third of the domestic market with the C919. Source: SupChina Jul 14, 2022: Boeing sees best month for aircraft deliveries since 2019 ARLINGTON, Va Boeing says that it delivered 51 passenger and cargo planes in June, the aircraft maker's best month for deliveries in more than three years, as airlines saw demand recovering from pandemic lows. The company, which recently moved its headquarters to Arlington, Virginia, said it delivered 43 of its 737 Max airliners, one 737 modified for the U.S. Navy, and seven larger planes that will be used to haul cargo. The deliveries were spread across about two dozen airlines, cargo carriers and aircraft leasing companies. However, Boeing again delivered none of its best-selling two-aisle plane, the 787, which has been plagued by production problems. The company is trying to win approval from federal regulators to resume deliveries, which are an important source of cash for Boeing. Boeing took new orders for 50 commercial jets in June, but customers canceled orders for 35. Of those, Boeing said, 28 cancellations stemmed from Norwegian Air Shuttle reshuffling its order book while keeping orders for 50 of the planes. Boeing said that it had a backlog of more than 4,200 commercial planes at the end of June. Source: Japan Today Jul 14, 2022: Boeing, Airbus: Looking At Plane Industry Into 2045 The world will need more than double the number of passenger and freighter aircraft by 2041 to meet demand, according to Airbus's latest outlook. The giant European aerospace company says that nearly 47,000 aircraft will be in service by 2041, up about 105% from the 22,880 aircraft that were in service at the beginning of 2020. Only a small percentage of these older jets and planes will remain in the air 20 years from now, Airbus predicts, meaning a vast majority of them will need to be replaced to comply with stricter emissions standards. Today, only around 20% of the total global fleet is represented by next-generation fuel efficient aircraft; by 2041, this figure with be above 95%, Airbus says. The lion's share of the growth is projected to occur in the fast-growing Asia-Pacific region, followed by North America, Europe and the Commonwealth of Independent States (CIS), which includes former Soviet states. Global Trade At New Record High Compared to passenger aircraft, freighters make up a relatively small percentage of the global fleet. However, as international trade is expected to double over the next 20 years, the number of freighter aircraft that can carry over 10 tonnes will need to increase to more than 3,000 by 2041, up from a little over 2,000 today. With inflation running rampant at the moment and a recession imminent, it may seem doubtful to some that trade could double in 20 years. Nevertheless, we're already seeing the value of internationally traded goods and services soar to new heights. In the first quarter of 2022, global trade hit a new record high of $7.7 trillion, according to just-released data from the United Nations Conference on Trade and Development (UNCTD). Granted, a big part of this increase in value is due to elevated prices, but I expect to see fresh new quarterly records over time as the size of the global middle class continues to expand. Boeing, Airbus: Looking At Plane Industry Into 2045 By Frank HolmesStock Markets3 hours ago (Jul 14, 2022 10:31AM ET) Frank Holmes Frank Holmes Articles (620) My Homepage Follow The world will need more than double the number of passenger and freighter aircraft by 2041 to meet demand, according to Airbus's latest outlook. The giant European aerospace company says that nearly 47,000 aircraft will be in service by 2041, up about 105% from the 22,880 aircraft that were in service at the beginning of 2020. Only a small percentage of these older jets and planes will remain in the air 20 years from now, Airbus predicts, meaning a vast majority of them will need to be replaced to comply with stricter emissions standards. Today, only around 20% of the total global fleet is represented by next-generation fuel efficient aircraft; by 2041, this figure with be above 95%, Airbus says. The lion's share of the growth is projected to occur in the fast-growing Asia-Pacific region, followed by North America, Europe and the Commonwealth of Independent States (CIS), which includes former Soviet states. Global Trade At New Record High Compared to passenger aircraft, freighters make up a relatively small percentage of the global fleet. However, as international trade is expected to double over the next 20 years, the number of freighter aircraft that can carry over 10 tonnes will need to increase to more than 3,000 by 2041, up from a little over 2,000 today. With inflation running rampant at the moment and a recession imminent, it may seem doubtful to some that trade could double in 20 years. Nevertheless, we're already seeing the value of internationally traded goods and services soar to new heights. In the first quarter of 2022, global trade hit a new record high of $7.7 trillion, according to just-released data from the United Nations Conference on Trade and Development (UNCTD). Granted, a big part of this increase in value is due to elevated prices, but I expect to see fresh new quarterly records over time as the size of the global middle class continues to expand. Travel The World Passenger traffic is also projected to more than double over the next 20 years, Airbus says, necessitating the need for thousands of new and improved aircraft. Between 2019 and 2041, world traffic is expected to grow at a compound annual growth rate (CAGR) of 3.6% and may eventually top a head-spinning 20 trillion revenue passenger kilometres (RPK). You only thought airports were crowded now. It's for this reason that travel hubs will need to be expanded and updated. Just last week, the U.S. Transportation Department awarded nearly $1 billion to 85 airport projects as part of the government's $1.2-trillion infrastructure program, approved by Congress last year. This initial $1 billion will be used to fund new terminals, increase gate capacity and add new air traffic control towers, bathrooms, baggage claim areas and more. Boeing Delivers Most Aircraft Since 2019 Airbus (EPA:AIR) is scheduled to report first-half results later this month, but for now, the attention is on its U.S. competitor Boeing (NYSE:BA). The company, which is moving its corporate headquarters from Chicago to Arlington, Virginia, due to the city's proximity to Washington, D.C., reported stellar delivery results this week for the second quarter. One hundred twenty-one aircraft were delivered in the three months ended June 30, bring the year-to-date figure to 216 aircraft. Boeing delivered 51 planes in June alone, making it the company's best month since March 2019. We like both Airbus and Boeing as the two companies drive innovation to pick up additional global market share. And if Airbus's projections are correct, there should be a lot of business to go around. Source: Investing.com Jul 14, 2022: Boeing closes gap on Airbus in H1 2022 deliveries Boeing and Airbus, two of the world's largest commercial aircraft manufacturers, revealed their delivery numbers for the second quarter of 2022, in addition to the first half of the year. Boeing's deliveries rose significantly compared to the first half of 2021, with 216 aircraft delivered in contrast to 156 during the same period during the previous year. Airbus deliveries remained stagnant as the manufacturer delivered 295 airplanes in H1 2022. 297 Airbus aircraft were delivered during the same period in 2021. However, it should also be noted that the company recalled delivery of two aircraft ordered by Russia's flag carrier Aeroflot, which would have brought the number back up to 297. With these numbers, Airbus is still outpacing Boeing, delivering 79 more aircraft than its competitor during the first half of the year. However, Boeing's deliveries show a steady rise since experiencing lows in 2020 as the manufacturer faced pandemic-related issues alongside the 737 MAX crisis. Meanwhile, Airbus deliveries seem to stagnate short of the pre-pandemic level. The resumption of 737 MAX production has been the main driving force behind Boeing's increase in deliveries. As the data in the chart below suggests, production of wide-body airliners has been relatively stagnant since the pandemic struck in 2020, and the increase in production mainly involved narrow-body models - the A220, the A320 and the 737. Furthermore, Boeing faced significant problems with its latest wide-body jet, the 787 Dreamliner. This led to the slowing down of its production in 2021. No Dreamliners have been delivered during the first half of 2022. Source: AeroTime Hub Jul 13, 2022: S&P 500, Nasdaq subdued on recession fears; Boeing lifts Dow The S&P 500 and the Nasdaq struggled for direction on Thursday as worries that Federal Reserve policy tightening could trigger a recession hurt sentiment ahead of the start of earnings season, while a rise in Boeing kept the Dow afloat. Focus is now on inflation data on Wednesday that is expected to show U.S. consumer prices rose 8.8% in June from a year earlier, marking a fresh four-decade high and adding more pressure on the Fed to tame soaring prices. "Investors will focus on margins, which is how are companies digesting all of the cost increases from wages to transportation to raw materials and for certain sectors, the questions will be how are companies seeing the broader consumer picture," said Ross Mayfield, investment strategy analyst at Baird. "It is a continued risk off tone in markets and the anticipation that while maybe some of the pain is priced in, you still have inflation expected to accelerate tomorrow, and the Federal Reserve with a lot of room to go on rate hikes." A stronger-than-expected jobs report last week cemented expectations for a second straight 75-basis-point rate hike later this month. Investors will be watching out for speeches by Fed officials this week for any change in the central bank's hawkish stance on inflation. All three benchmark indexes ended lower in the previous session, after posting solid gains last week, with most market-leading growth stocks yet again dragging down the Nasdaq on Tuesday. The Dow Jones Industrial Average got a lift from a 7.6% jump in shares of Boeing Co, which delivered 51 airplanes in June, exceeding the 50 threshold for the first time since March 2019. At 12:06 p.m. ET, the Dow was up 95.54 points, or 0.31%, at 31,269.38, the S&P 500 was up 3.35 points, or 0.09%, at 3,857.78 and the Nasdaq Composite was up 9.78 points, or 0.09%, at 11,382.38. The benchmark U.S 2/10 yield curve remained inverted for a fifth consecutive day, further adding to fears of a recession. The S&P 500 energy sector fell 2.2%, and was the top sectoral decliner, as oil prices retreated sharply on a weaker demand outlook. Airline stocks rose, with the S&P 1500 Airlines index up 6.6%. PepsiCo Inc raised its full-year revenue forecast, helped by sustained demand for its sodas and snacks, sending the company's shares up 0.2%. Gap Inc slid 3.7% after the clothing retailer said its CEO would step down and its margins would stay under pressure in the second quarter as costs spiral. Advancing issues outnumbered decliners by a 1.67-to-1 ratio on the NYSE and a 1.13-to-1 ratio on the Nasdaq. The S&P index recorded one new 52-week high and 29 new lows, while the Nasdaq recorded eight new highs and 99 new lows. Source: The Financial Express Jul 13, 2022: Boeing records best month for jet deliveries since 2019 Boeing said Tuesday that it delivered 51 passenger and cargo planes in June, the aircraft maker's best month for deliveries in more than three years, as airlines saw demand recovering from pandemic lows. The company, which recently moved its headquarters to Arlington, Va., said it delivered 44 of its 737 Max airliners and seven larger planes that will be used to haul cargo. The deliveries were spread across about two dozen airlines, cargo carriers and aircraft leasing companies. However, Boeing again delivered none of its best-selling two-aisle plane, the 787, which has been plagued by production problems. The company is trying to win approval from federal regulators to resume deliveries, which are an important source of cash for Boeing. Boeing took new orders for 50 commercial jets in June, but customers canceled orders for 35. Of those, Boeing said, 28 cancellations stemmed from Norwegian Air Shuttle reshuffling its order book to drop 28 Maxes while keeping orders for 50 of the planes. Boeing said it had a backlog of more than 4,200 commercial planes at the end of June. Source: The Arkansas Democrat-Gazette Jul 13, 2022: Boeing sees best month for aircraft deliveries since 2019 Boeing says aircraft deliveries are the strongest it has seen since March 2019 Boeing said on Tuesday that it delivered 51 passenger and cargo planes in June, the aircraft maker's best month for deliveries in more than three years, as airlines saw demand recovering from pandemic lows. The company, which recently moved its headquarters to Arlington, Virginia, said it delivered 44 of its 737 Max airliners and seven larger planes that will be used to haul cargo. The deliveries were spread across about two dozen airlines, cargo carriers and aircraft leasing companies. However, Boeing again delivered none of its best-selling two-aisle plane, the 787, which has been plagued by production problems. The company is trying to win approval from federal regulators to resume deliveries, which are an important source of cash for Boeing. Boeing took new orders for 50 commercial jets in June, but customers canceled orders for 35. Of those, Boeing said, 28 cancellations stemmed from Norwegian Air Shuttle reshuffling its order book to drop 28 Maxes while keeping orders for 50 of the planes. Boeing said that it had a backlog of more than 4,200 commercial planes at the end of June. Source: The Hindu Jul 13, 2022: The Boeing Company Enters Today Up 4.64% The Hourly View for The Boeing Company Currently, BA's price is up $1.14 (0.8%) from the hour prior. It's been a feast for bulls operating on an hourly timeframe, as The Boeing Company has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment - meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The Daily View for The Boeing Company At the moment, BA's price is up $6.36 (4.64%) from the day prior. This is a reversal of the price action on the previous day, in which price moved down. As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment - meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. Divergence between BA's price and its RSI may be manifesting. As such, be on the lookout for trend reversal in BA's price. Source: CFDTrading Jul 13, 2022: Boeing delivers 51 airplanes in June, highest monthly delivers since March 2019 Boeing Co delivered 51 airplanes in June to bring its first-half tally to 216 jets, up 38% from the same period last year, pushing its shares sharply higher on Tuesday. June's deliveries exceeded the 50 threshold for the first time since March 2019 and included 43 Boeing 737 MAX, which is recovering from a nearly two-year safety crisis, according to new company data. Boeing's shares rose more than 8% as it also confirmed that monthly MAX production had touched a target of 31 airplanes, while cautioning it had yet to be "stabilised" at that level as aerospace faces worldwide supply chain snags. Jefferies analyst Sheila Kahyaoglu estimated that the average second-quarter MAX production rate was 28 per month. June deliveries included six wide-body commercial freighters but, for the 12th consecutive month, no 787 Dreamliners. Deliveries of the long-haul jet have been halted for a year as Boeing and regulators address production problems. In new business, Boeing won 50 airplane orders in June, including 49 MAX, of which 48 were sold to customers whose names were not immediately disclosed. The one public purchaser was American Airlines. Boeing took cancellations for 35 planes in June, mainly related to airline restructurings, including 29 jets originally earmarked for Norwegian Air. It also benefited in June from dozens of jets being taken out of limbo and placed back on a list of orders expected to be fulfilled as Boeing reversed some accounting adjustments. In total during the first half, Boeing booked 286 gross orders and took 100 cancellations, leaving a net total of 186 orders after cancellations and conversions. Europe's Airbus on Friday posted 259 net orders after cancellations in the first half, up sharply from a year earlier. Deliveries were flat at 297 planes. After retrieving a six-month total of 19 jets from an accounting category designed to filter out orders unlikely to be fulfilled, Boeing ended the first half with an adjusted total of 205 net orders as it took a more optimistic view on some deals. Boeing's undelivered backlog after these so-called ASC-606 accounting adjustments stood at 4,239 units at end-June. Source: Business Today Jul 13, 2022: UAH, Cherokee heritage help inspire life of leadership at Boeing in engineering alumnus Robert Green Today, Robert Green is senior director for Boeing's Integrated Air & Missile Defense portfolio, supporting systems as vital as the Patriot Advanced Capability-3 (PAC-3), Aegis Ballistic Missile Defense and Avenger. But it's been a long road to achieving his current status. In fact, the alumnus of The University of Alabama in Huntsville (UAH), a part of The University of Alabama System, has never benefitted from an easy path in life. "We were very poor, and I had a tough childhood," Green says. "But I learned my work ethic from my father, Carroll Lynn Green, who worked very hard. I was motivated to have a better life for myself and, if God was to bless me with one, my family." The alumnus (BSEE '84, MSE '90) has traveled quite a ways from those humble beginnings, a journey that would see him become the first member of his family to graduate from college, earning bachelor's and master's degrees in electrical engineering from UAH on a federal Pell Grant. Green says he wasn't drawn to a potential career in engineering early on. "I was an athlete, and I wanted to play college sports, but my wife challenged me to want to be more - sparking my interest in engineering by encouraging me to have conversations with her father, who was an engineer," he says. "She asked me a simple question one day to the effect of, 'What? Are you scared to try engineering at UAH?' And that charted my course. Her father was one of the first graduates of the new master's program at UAH. She challenged me to consider following suit, and the rest is history! I was inspired to engineering by my father-in-law, John W. Wilcox, and he talked to me all the time about the really exciting things he was working on." The moment that fateful decision was made, however, only marked the start of an arduous struggle to succeed that began anew each day. "When I first started at UAH, I wasn't qualified for the College of Engineering, so I was admitted as a 'Special Non-Degree Student' until I passed all of the pre-requisites to be admitted," Green says. "I was working full time and going to school with a full course load at night. I always carried a heavy school load and work load. When I finally was admitted into the College of Engineering, the dean had to sign my first quarter class schedule, but he wouldn't sign it because of the heavy course load. We met several times to discuss that, and I wouldn't budge on lightening my courses, so he finally gave in! However, he told me that I would never graduate with such a heavy course load while working full time. Those words lit a fire under me. I went on to prove it was possible by receiving my bachelor's and master's degree - becoming vice president of the Engineering Honor Society along the way!" Green recalls that a special teacher in the College helped influence his burgeoning career. "A mentor of mine was my professor, Dr. Charles Halijak, who was over my major when I was studying for my master's degree," he notes. "He would always encourage me to keep driving to finish my MS degree. I was the only one in my family to go to college to that point." Green in cap and gown with his father, proudly smiling outdoors Robert Green poses with his father, Carroll Lynn Green, at college graduation, 1984. Courtesy Robert Green Whenever times got especially tough in those early days, the north Alabama native also found an important source of strength and inspiration in the form of family stories that reflected his Cherokee heritage. Over the years he has used this connection as a foundation for his life, a path that has led him to become an executive champion for the Huntsville chapter of the Boeing Native American Network. The Boeing Native American Network (BNAN) is an employee-led endeavor that strives to build awareness of the richness and diversity of Native American and Indigenous cultures within the Boeing team. The organization emphasizes career development and leadership and encourages STEM careers for Native American and Indigenous youth, as well as providing training opportunities. "I've always been involved in my community, and I wanted to get involved in a broader way through Boeing's employee-led associations, which are designed to advance personal and professional development, promote diversity within the company and strengthen networking," Green explains. Listening to the stories passed down by his great-grandmother made him feel a deep kinship with his fellow Native Americans and a wish to inspire others to forge a similar path to their dreams. It's easy to see that helping Native Americans and Indigenous people get involved in STEM is very close to the UAH alumnus' heart. "When I found out about the Boeing Native American Network, my Cherokee heritage provided added inspiration to get involved," Green says. "Now I'm one of the executive sponsors for the network. Providing opportunities for all people to succeed is important, especially for those who may not be aware of opportunities or need a challenge or motivation like I did. You never know what can be achieved until you unleash that potential." Green has served in a variety of space and defense leadership roles since joining the company in 1984, including the former Spacelab program and Ground-based Midcourse Defense. My education and degrees from UAH have positioned me to be anything and do anything I want to do in business and have provided great opportunities for my children, as well. Robert Green UAH alumnus "I was working at SCI as an associate engineer while in college, and I interviewed for McDonnell Douglas (which Boeing acquired later) on a space program called Spacelab," he says. "Working manned space flight was very exciting, and I was able to use my experience from SCI to go right into designing space hardware and support space missions at Boeing. There were so many exciting programs available, and that is the value of working for a great company. If you can dream it, they work on it!" As senior director for Boeing's Integrated Air & Missile Defense portfolio, Green reports that this connection to the military holds a special meaning for him as well. "My father was in the U.S. Army, and four of my children have served or continue to serve in the Armed Forces, so the military is very important to me and my family. The products that we work on are critical to the defense of our military and our nation. And I am very proud of the part I play and that Boeing plays in protecting our freedoms, our families and the nation." Looking back over his career, Green notes several projects as particular highlights that have been particularly rewarding to work on. "I worked on several Spacelab missions designing hardware that flew on the Space Shuttle in the Spacelab module, and supported many missions as the chief engineer and flight director of the Payload Bay, which was very demanding," he says. "Getting published in EMC Magazine and briefing at the EMC Symposium in Zurich, Switzerland, while working on Space Programs were also highlights and opportunities I would not have had outside of Boeing. Now I'm the senior director of Integrated Air & Missile Defense at Boeing, which has given me the opportunity to work on exciting programs like PAC-3and Aegis Ballistic Missile Defense. This September will be my 39th year working at Boeing, which tells you that I've really enjoyed what I was doing, so much so that I never wanted to change companies. Boeing is somewhere you can spend your entire career because of the variety of exciting programs to work on!" As to advice the alumnus might offer when it comes to reaching for your dreams, he speaks plainly when it comes to education. "I was very motivated to make it happen, and it was a special feeling to be the first in my family. My education and degrees from UAH have positioned me to be anything and do anything I want to do in business and have provided great opportunities for my children, as well. My wife took courses at UAH and three of my 11 children have graduated from UAH with physics and engineering degrees." After a life well spent in service to family, faith and his heritage, you might be wondering what Green looks forward to for future inspiration? Any new horizons to conquer? "We are getting much closer to the land living on our family farm," he says when reflecting on what's next in store. "It's important to understand how farming was done sustainably in the past to preserve and live off the land for a long time to come. I look forward to spending time my family - staying close to each other, our faith and the land." Source: UAH Jul 13, 2022: Royal Bank of Canada Reiterates $220.00 Price Target for Boeing (NYSE: BA) Royal Bank of Canada set a $220.00 price objective on Boeing (NYSE:BA - Get Rating) in a report published on Tuesday, Borsen Zeitung reports. BA has been the subject of a number of other reports. Bank of America reduced their price objective on shares of Boeing from $180.00 to $150.00 in a research note on Tuesday, May 17th. StockNews.com downgraded shares of Boeing from a hold rating to a sell rating in a report on Friday, May 6th. Citigroup raised shares of Boeing from a neutral rating to a buy rating and dropped their price objective for the stock from $219.00 to $209.00 in a report on Thursday, June 16th. Benchmark dropped their price objective on shares of Boeing from $270.00 to $250.00 and set a buy rating for the company in a report on Friday, April 22nd. Finally, Robert W. Baird reaffirmed an outperform rating and set a $245.00 price objective on shares of Boeing in a report on Thursday, July 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Boeing currently has an average rating of Moderate Buy and a consensus target price of $225.83. Get Boeing alerts: Boeing stock opened at $147.15 on Tuesday. Boeing has a 52 week low of $113.02 and a 52 week high of $241.15. The company's 50 day moving average price is $134.19 and its two-hundred day moving average price is $173.45. The stock has a market cap of $87.06 billion, a P/E ratio of -17.79 and a beta of 1.36. Boeing (NYSE:BA - Get Rating) last posted its earnings results on Wednesday, April 27th. The aircraft producer reported ($2.75) EPS for the quarter, missing the consensus estimate of ($0.26) by ($2.49). The business had revenue of $13.99 billion for the quarter, compared to analysts' expectations of $15.90 billion. During the same quarter in the prior year, the company posted ($1.53) earnings per share. The firm's quarterly revenue was down 8.1% on a year-over-year basis. As a group, sell-side analysts expect that Boeing will post -0.86 EPS for the current fiscal year. Several large investors have recently modified their holdings of the company. Everhart Financial Group Inc. raised its stake in shares of Boeing by 109.3% during the second quarter. Everhart Financial Group Inc. now owns 2,342 shares of the aircraft producer's stock valued at $320,000 after acquiring an additional 1,223 shares during the last quarter. Connecticut Wealth Management LLC raised its stake in shares of Boeing by 9.6% during the second quarter. Connecticut Wealth Management LLC now owns 2,868 shares of the aircraft producer's stock valued at $392,000 after acquiring an additional 252 shares during the last quarter. 626 Financial LLC raised its stake in shares of Boeing by 4.2% during the second quarter. 626 Financial LLC now owns 6,088 shares of the aircraft producer's stock valued at $829,000 after acquiring an additional 247 shares during the last quarter. Kwmg LLC raised its stake in shares of Boeing by 21.6% during the second quarter. Kwmg LLC now owns 21,013 shares of the aircraft producer's stock valued at $2,873,000 after acquiring an additional 3,730 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC raised its stake in shares of Boeing by 21.9% during the second quarter. Sugarloaf Wealth Management LLC now owns 975 shares of the aircraft producer's stock valued at $133,000 after acquiring an additional 175 shares during the last quarter. 53.96% of the stock is owned by hedge funds and other institutional investors. Source: Defense World Jul 12, 2022: Luxurious But Unreliable: The Paradox Of The Boeing 377 Stratocruiser Spacious, innovative, and groundbreaking in the day, the Boeing 377 Stratocruiser promised much but proved unreliable and expensive to operate. It was developed to be a luxurious long-range passenger plane conceived from the C-97 Stratofreighter, a derivative of the B-29 Superfortress. Following the end of World War Two, when William Allen became President of Boeing, the company sought to replace the production of military aircraft with civilian airliners. Looking to capitalize on ground-based runways rather than the pre-war Boeing 314 Clipper sea routes flown by Pan American World Airways, Boeing saw the potential for its long-range military transport aircraft for transoceanic flights. SIMPLEFLYING VIDEO OF THE DAY Close Boeing took a gamble Despite the country facing a depression in late 1945, Allen ordered the company to build 50 Stratocruiser airliners based on the C-97. This was a huge gamble, given that no airline had yet placed an order for such a plane. His hunch proved correct, with Pan Am placing a $24,500,000 order, the largest ever order for an aircraft in the history of aviation. After the success of its Clipper flights Pan Am President Juan Tripp held Boeing in high regard. When a Boeing C-97 flew non-stop from Seattle to Washington D.C. in six hours and four minutes, he immediately saw the potential of the Stratocruiser. The Stratocruiser had two decks Much more significant than the Douglas DC-6, the Stratocruiser boasted two pressurized passenger decks with air-conditioning. The main deck had seating for 100 passengers, while the lower was a combination of berths and seats. Source: Simple Flying Jul 12, 2022: Stocks making the biggest moves midday: Gap, Peloton, Boeing, American Airlines, Twitter and more Check out the companies making headlines in midday trading. Gap - Shares of the apparel retailer dropped more than 3% after Gap announced Monday that CEO Sonia Syngal is stepping down from her position. Wells Fargo downgraded the stock to equal weight from buy following the move, saying the firm can no longer recommend a stock that is dealing with so many challenges within its own company - especially as investors deal with a difficult economic backdrop. Boeing - The aerospace company's shares jumped more than 8% after it reported that its deliveries have reached their highest monthly level since March 2019. Boeing delivered 51 airplanes in June, totaling 216 jets during the first half. Airline stocks - Shares of American Airlines jumped 11% after the company updated its second-quarter guidance, expecting total revenue to rise by 12% compared to the same period in 2019. Delta Air Lines gained about 7.5% ahead of its earnings, which are scheduled for Wednesday. Southwest also rose more than 5% after Susquehanna upgraded the stock to a positive rating from neutral. Peloton - Peloton shares added 3% after the fitness equipment maker said it's suspending its in-house manufacturing operations and broadening its partnership with Taiwanese manufacturer Rexon Industrial. Twitter - Shares of the social media company rebounded more than 4% following a 11% decline in the previous session. Twitter said Monday in a letter that Elon Musk's bid to terminate his proposed $44 billion acquisition of the social media company is "invalid and wrongful." Dave & Buster's - Shares of Dave & Buster's fell nearly 3% to a 52-week low after the entertainment-themed restaurant announced a slew of executive changes to its C-suite. The hires will take effect August 1. PriceSmart-Shares of discount retailer PriceSmart plunged nearly 10%, touching a 52- week low a day after the company reported earnings that missed analysts' expectations, even though sales outperformed. PriceSmart also said it is trying to offload excess inventory at discount prices, as it's been hit by shifts in consumer demand and supply chain disruptions. Canoo-Shares of EV maker Canoo surged 77% after Walmart agreed to purchase at least 4,500 of its upcoming electric delivery vans. Through the agreement, Walmart may purchase up to 10,000 of the electric vans. Microsoft - Microsoft slipped about 2.7% after Morgan Stanley lowered its price target on the company to $354 from $372. The firm also said that the stock is not immune to macro risks. Source: CNBC Jul 11, 2022: California air charter firm diverts 5 Boeing jets with more than 1,000 American passengers on board because Dublin airport was understaffed A California-based air charter company diverted five Boeing jets from Dublin to another Irish location 160 miles away because a staff shortage at Dublin airport meant there were no landing slots available. The Times of London reported the news. The diversion meant that more than 1,000 American passengers landed at Kerry airport rather than Dublin, Peter Le Bas, chairman of Le Bas International (LBI), told the publication. Dublin airport couldn't land the Boeing 737s because of a lack of staff to handle aircraft, Le Bas added. Source: Business Insider Jul 11, 2022: United Airlines to fly to Santiago de Chile with Boeing 777-200 aircraft Beginning October the 29th, United Airlines will have flights to Santiago de Chile with the 276-seat Boeing 777-200(ER). For the first time, the company will fly the aforementioned aircraft to and from the Chilean capital. Operations are carried out in Houston, one of United's most important bases in the United States. See also: United Airlines resumes flights between Chicago and Edinburgh. In late March, United began services to the Chilean city with Boeing 767-300(ER) aircraft. Previously, the airline operated on the 252- or 257-seat Boeing 787-9 Dreamliner. - Advertisement - United Airlines currently has one daily frequency, offering 1,498 seats per week on each leg. Source: Aviacion Online Jul 11, 2022: H2 Clipper Hires Veteran Aerospace Finance Executive, Joe Massaquoi, As New CFO H2 Clipper, Inc., an aerospace and alternative energy company developing uniquely capable hydrogen-powered airships and end-to-end hydrogen infrastructure solutions announces that Joe Massaquoi has joined the company as Chief Financial Officer (CFO). Massaquoi, who was an executive at Boeing for over eight years, brings more than 25 years of experience as a global finance executive and investment banker for growth-stage private companies, mainly in the aerospace/aviation, cleantech, and transportation sectors. As H2 Clipper's CFO, Massaquoi will focus on strategic financial planning and management to prepare the company for a significant capital raise. This will bring the company closer to commercializing its two patented, complementary hydrogen transportation solutions designed to deliver green hydrogen from remote areas where hydrogen can be most inexpensively produced to places where clean energy is most needed. H2 Clipper founder and CEO Rinaldo Brutoco said, "Joe shares our vision of a world operating on clean, sustainable, and disruptively efficient renewable energy. During his illustrious career, Joe has championed many disruptive technologies. His expertise and industry experience will be pivotal in helping us achieve our goal of providing a rapidly scalable hydrogen infrastructure solution, which is essential to addressing climate change." Massaquoi said, "I am passionate about innovation that connects people and improves our lives, and I am very motivated by H2 Clipper's mission to advance the hydrogen economy worldwide. My professional experience has been with leading companies in both the energy and aviation sectors - H2 Clipper unlocks the value proposition of each in a unique and sustainable way." With a long record of success in leading key corporate initiatives, Massaquoi's career has focused on securing the capital necessary to accelerate growth and drive M&A transactions from strategic inception to successful integration. He has enabled over $37 billion in external capital infusion into private and public companies, guided the establishment of seven strategic joint ventures, and executed over 40 M&A domestic and cross-border transactions. He has completed project assignments in North America, Europe, Southeast Asia, and Sub-Saharan Africa. Most recently, as CFO of Boom Supersonic and Boeing's Initium Aerospace, Massaquoi grew teams responsible for financial oversight and capital allocation and nurtured key investor and stakeholder relationships. During his tenure at Boom, the company closed its largest-ever funding round, completed inaugural independent audits, and revamped the annual strategic planning process. At Initium from 2019 - 2020, he secured shareholder funding to develop an advanced auxiliary propulsion system for commercial aircraft and ensured the successful implementation of a new ERP system. From 2012 - 2019, Massaquoi served as Boeing's Director of Corporate Development, where he led cross-functional teams by establishing a record number of commercial joint ventures. Massaquoi began his career as an investment banker. As Executive Director in M&A at Credit Suisse, he advised utilities and telecom clients as those respective industries underwent transformative shifts from fossil fuels to renewables, and from wireline to broadband/wireless technology. Born in Sierra Leone, Massaquoi emigrated to the United States for college and is a naturalized U.S. citizen. He holds an M.B.A. from Harvard Business School and a B.S. in physics from Morehouse College. He has served on a number of not-for-profit organization boards, most recently as a Board Director for Red Rocks Credit Union, a Colorado-based financial institution with 16,000 members and ~$360 million in assets. Massaquoi is the latest high-level executive to join the H2 Clipper team, which includes internationally recognized and notable experts in hydrogen, fuel cell technology, logistics, and corporate finance. Most recently, executive search leader Thomas J. Neff joined H2 Clipper's Advisory Board. Other Board members include Peter A. Georgescu, Chairman Emeritus of Young & Rubicam, as Lead Board Director, and Angel Gurria, renowned international diplomat and former OECD Secretary-General. Source: UAS weekly Jul 11, 2022: Boeing to possibly cancel the Max 10 - what's next for BA stock It seems as if troubles for Boeing (NYSE: BA) shareholders are not over yet, as the company mulls shelving the Max 10 airplane production. Namely, Dave Calhoun, BA CEO, hinted at this possibility when he gave an interview for the trade publication Aviation Week. The biggest issue appears to be the Aircraft Safety and Certification Reform Act, enacted by the U.S. Congress in late 2020, which mandates all airplanes certified as of 2023 to comply with the newest crew alert regulations. Meanwhile, the company's airplanes are under increased scrutiny due to various issues Boeing had recently. This, along with the debt that the company took on during Covid lockdowns, looks to be pushing Calhoun towards the possibility of shelving the Max 10. "We end up having to face right into that question. If you go through the things we've been through, the debts that we've had to accumulate, our ability to respond, or willingness to see things through even a world without the -10 is not that threatening." BA chart and analysis Recently, the price action managed to close above the 20-day and 50-day Simple Moving Averages (SMAs), despite the stock being down 33% year-to-date (YTD). Further, the trading range has settled between $130 and $147 on reduced trading volume, possibly indicating further sideways movement. Source: Finbold Jul 11, 2022: Drone Market SWOT Analysis By 2028 The Boeing Company, General Atomics, Lockheed Martin Corporation, Northrop Grumman, AeroVironment, Prox Dynamics AS, Denel Dynamics, SAIC, Israel Aerospace Industries, Textron Inc. New Jersey, United States - The Drone Market research report aims at providing a quick overview of the overall performance of the industry and significant novel trends. Important insights, as well as findings, latest key drivers, and constraints, are also depicted here. A huge array of quantitative and qualitative techniques is used by market analysts including in-depth interviews, ethnography, customer surveys, and analysis of secondary data. It becomes easy for major players to collect important data regarding key organizations along with insights such as customer behavior, market size, competition, and market need. By referring to this Drone market study report, it becomes easy for key players to take evidence-based decisions. This Drone market study report adds the potential to impact its readers and users as the market growth rate is affected by innovative products, increasing demand for the product, raw material affluence, increasing disposable incomes, and altering consumption technologies. It also covers the effect of the COVID-19 virus on the growth and development of the market. Market players can study the report briefly before investing in the market and expecting higher returns. According to the report, the market scenario keeps on fluctuating based on many factors. Source: Designer Women Jul 11, 2022: Oil & Gas Drones Market SWOT Analysis By 2028 Aeryon Labs Inc., Lockheed Martin, Textron Inc., Leonardo S.p.a., Proxy Technologies Inc., The Boeing Company, Draganfly Innovations Inc., Aerovironment Inc., Altavian Inc., BAE Systems Plc New Jersey, United States - The Oil & Gas Drones Market research report aims at providing a quick overview of the overall performance of the industry and significant novel trends. Important insights, as well as findings, latest key drivers, and constraints, are also depicted here. A huge array of quantitative and qualitative techniques is used by market analysts including in-depth interviews, ethnography, customer surveys, and analysis of secondary data. It becomes easy for major players to collect important data regarding key organizations along with insights such as customer behavior, market size, competition, and market need. By referring to this Oil & Gas Drones market study report, it becomes easy for key players to take evidence-based decisions. This Oil & Gas Drones market study report adds the potential to impact its readers and users as the market growth rate is affected by innovative products, increasing demand for the product, raw material affluence, increasing disposable incomes, and altering consumption technologies. It also covers the effect of the COVID-19 virus on the growth and development of the market. Market players can study the report briefly before investing in the market and expecting higher returns. According to the report, the market scenario keeps on fluctuating based on many factors. Get Full PDF Sample Copy of Report: (Including Full TOC, List of Tables & Figures, Chart) @ https://www.verifiedmarketreports.com/download-sample/?rid=535218 (Use Company eMail ID to Get Higher Priority) There are several industries wanting to determine what customers really want and the Oil & Gas Drones market report helps in this regard by carrying out in-detailed market research. Before bringing a novel product into the market, every business owner wants to know the demand for the product, and this market study report works as the best guide for them. It further helps to meet business requirements by covering all the latest market advancements. Oil & Gas Drones market report is the best medium to have close eye on the activities of leading competitors as well as strategies they are deploying for business expansion. It further makes an in-depth analysis for the evaluation period 2022-2028 to bring more business opportunities for the company owners. Source: Designer Women Jul 11, 2022: Copter Market SWOT Analysis By 2028 The Boeing, Kaman, Bell Helicopter Textron, AgustaWestland, Airbus Helicopters, Russian Helicopters, Sikorsky Aircraft, Enstrom Helicopter Corporation, Korea Aerospace Industries, Hindustan Aeronautics New Jersey, United States - The Copter Market research report aims at providing a quick overview of the overall performance of the industry and significant novel trends. Important insights, as well as findings, latest key drivers, and constraints, are also depicted here. A huge array of quantitative and qualitative techniques is used by market analysts including in-depth interviews, ethnography, customer surveys, and analysis of secondary data. It becomes easy for major players to collect important data regarding key organizations along with insights such as customer behavior, market size, competition, and market need. By referring to this Copter market study report, it becomes easy for key players to take evidence-based decisions. This Copter market study report adds the potential to impact its readers and users as the market growth rate is affected by innovative products, increasing demand for the product, raw material affluence, increasing disposable incomes, and altering consumption technologies. It also covers the effect of the COVID-19 virus on the growth and development of the market. Market players can study the report briefly before investing in the market and expecting higher returns. According to the report, the market scenario keeps on fluctuating based on many factors. Source: Designer Women Jul 07, 2022: Boeing's Aurora to build Virgin Galactic spaceship carrier plane Virgin Galactic inked an agreement with Boeing subsidiary Aurora Flight Sciences to build the company's new twin-fuselage carrier plane that will ferry its next-generation spaceship toward space, the companies announced on Wednesday. Virgin Galactic, the space tourism firm founded by billionaire businessman Richard Branson, has been building a more durable, mass-producable successor to its flagship SpaceShipTwo spaceplane, which drops from the underbelly of a carrier plane before rocketing to the edge of space for a few minutes. Also Read |NASA Mars Pathfinder: 25 years after the first rover landed on the red planet Aurora, Boeing's aeronautics and aviation research unit, will build two new carrier planes that will support the SpaceShipTwo craft and its successor, which Virgin Galactic calls Delta-class vehicles. The new carrier planes, called "motherships," are designed for faster production rates and to fly some 200 flights per year, the company said. Under the agreement, Aurora will deliver parts of the motherships for assembly in 2025, Virgin Galactic said in a statement. Source: The Indian Express Jul 07, 2022: GXO Earns Boeing's 'Supplier of the Year for Support & Services' Award GREENWICH, Conn., July 06, 2022 (GLOBE NEWSWIRE) -- GXO Logistics, Inc. (NYSE: GXO), the world's largest pure-play contract logistics provider, announced it has received recognition from The Boeing Company (NYSE: BA) as one of its top suppliers at the company's 2022 Supplier of the Year event in Los Angeles. "It's an honor to receive this 'Supplier of the Year for Support & Services' award from Boeing," said Bill Fraine, Chief Commercial Officer at GXO. "We're proud to support Boeing's commercial and defense programs domestically and globally. This award brings a tremendous sense of accomplishment to our team members, who are committed to continuous improvement and to delivering the highest standards of service, solutions and innovation in the industry. We look forward to continuing our work with Boeing to ensure aerospace is safe and sustainable." GXO received the Supplier of the Year for Support & Services award for its role in supporting Boeing's 787 Dreamliner, 737, V-22, CH-47, P-8, KC-46 and C-17 programs, among others. GXO supports Boeing's Spares Distribution Center, located in SeaTac, Wash.; GXO's Boeing Aggregated Standards Network (BASN) operation supports all Boeing Commercial Airplanes programs at assembly sites and tier 1 suppliers globally; and GXO supports Boeing's "Stores" distribution facilities throughout the U.S. "Each of these winners had an impressive year as our entire industry collaborated to drive stability through a challenging environment," said William Ampofo, vice president of Parts & Distribution Services and Supply Chain for Boeing Global Services and chair of Boeing's Supply Chain Operations Council. "They did an outstanding job maintaining our high standards - a focus on operational excellence, quality and reliability - that allow us to continue to earn the trust of our stakeholders, customers and the flying public." Source: GlobeNewswire Jul 07, 2022: AML3D receives key purchase agreement from Boeing AML3D Limited has received an additional purchase agreement to develop and produce 3D printed components for The Boeing Company. These key components will involve extensive printing of high-strength Aluminium, an intensive testing program that is comparative to the testing of structural components, and will be aligned with the requirements of AS9100D quality assurance for "fly" parts. The purchase agreement comes after a key visit, and detailed technical discussions, by Boeing's Director of Global Additive Manufacturing back in March this year. As a leading global aerospace company, Boeing develops, manufactures, and services commercial airplanes, defense products, and space systems for customers in more than 150 countries. As a top US exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability, and community impact. AML3D has received the purchase agreement for $140,000 (AUD) from Boeing on standard commercial terms, to supply various Aluminium test pieces and structural components typically used for structural "fly" components, for intense test evaluation in North America. These parts will be manufactured using AML3D's proprietary Wire Additive Manufacturing (WAM) process. This purchase agreement is for various key test artifacts and structural components - to be used for testing and validation purposes that will be the basis of near-term future work. "AML3D is excited to continue working with Boeing, and cementing our relationship with one of the world's largest aerospace companies through our proprietary WAM process. This purchase contract is a major step in our journey and will provide the Company further opportunity to now validate and produce parts on time and to specification for a high-quality Tier 1 customer, which is further endorsement of the adoption of our proprietary WAM 3D printed solutions and core to our strategy for the Company in the coming years," commented Andrew Sales, Managing Director of AML3D, on the purchase contract from Boeing. Source: 3D Printing Media Network Jul 07, 2022: Airbus ahead of Boeing in $10 billion Malaysia order race Airbus SE is leading a race against Boeing Co. over the potential sale of about 30 wide-body aircraft to Malaysia Airlines as the Southeast Asian carrier, seeking more fuel-efficient jets amid a travel rebound, focuses on cost. Airbus is offering its A330neo range of aircraft while Boeing is pushing its 787 Dreamliners, according to people familiar with the matter, who asked not to be identified because the discussions are private. A decision may be announced as soon as later this month at the upcoming Farnborough International Airshow, the people said. A deal for 30 Boeing 787-10 Dreamliners would be valued at more than $10 billion at sticker prices, although discounts are common in such large purchases. The A330neo-built on the same platform of an older model-is typically significantly cheaper, although Airbus no longer publicly announces prices. Talks are still ongoing and no final decision has been made, the people said. Airbus said in a statement that it is "always in contact with existing and potential customers and the nature of any discussions whether underway or not remain confidential in any case." Boeing said that in general it doesn't "comment on discussions with customers." Representatives for Malaysia Airlines didn't immediately respond to requests for comment. Malaysia Aviation Group, Malaysia Airlines' parent company, expects to be operating at 70% of pre-pandemic levels for local and international flights by later this year, according to a statement released in April. The stronger-than-expected pick up in travel demand has also been a boon for planemakers, which are back to selling large numbers of jets after a more than two-year hiatus. Malaysia Aviation is owned by sovereign wealth fund Khazanah Nasional Bhd. Malaysian tycoon Tony Fernandes' AirAsiaX was the world's top customer for A330neos before a restructuring, when the low-cost long-haul carrier cut its tally to 15 from 78. Some of those airplanes, already on the books of leasing companies, could be offered to Malaysia Airlines, one of the people said. Source: American Journal of Transportation Jul 07, 2022: GXO Earns Boeing's 'Supplier of the Year for Support & Services' Award GXO's partnership with the world's largest aerospace company spans nearly two decades, helping drive efficiency and sustainability GREENWICH, Conn., July 06, 2022 (GLOBE NEWSWIRE) -- GXO Logistics, Inc. (: GXO), the world's largest pure-play contract logistics provider, announced it has received recognition from The Boeing Company (: BA) as one of its top suppliers at the company's 2022 Supplier of the Year event in Los Angeles. "It's an honor to receive this 'Supplier of the Year for Support & Services' award from Boeing," said Bill Fraine, Chief Commercial Officer at GXO. "We're proud to support Boeing's commercial and defense programs domestically and globally. This award brings a tremendous sense of accomplishment to our team members, who are committed to continuous improvement and to delivering the highest standards of service, solutions and innovation in the industry. We look forward to continuing our work with Boeing to ensure aerospace is safe and sustainable." GXO received the Supplier of the Year for Support & Services award for its role in supporting Boeing's 787 Dreamliner, 737, V-22, CH-47, P-8, KC-46 and C-17 programs, among others. GXO supports Boeing's Spares Distribution Center, located in SeaTac, Wash.; GXO's Boeing Aggregated Standards Network (BASN) operation supports all Boeing Commercial Airplanes programs at assembly sites and tier 1 suppliers globally; and GXO supports Boeing's "Stores" distribution facilities throughout the U.S. "Each of these winners had an impressive year as our entire industry collaborated to drive stability through a challenging environment," said William Ampofo, vice president of Parts & Distribution Services and Supply Chain for Boeing Global Services and chair of Boeing's Supply Chain Operations Council. "They did an outstanding job maintaining our high standards - a focus on operational excellence, quality and reliability - that allow us to continue to earn the trust of our stakeholders, customers and the flying public." Source: GuruFocus Jul 07, 2022: Prairie View A&M students earn unique opportunities The Boeing Company has a deep-rooted legacy of aerospace pioneers. Now they're working to inspire future engineers and business workers through funding hands-on internship opportunities. The Boeing Company and Thurgood Marshall College Fund partnership is an opportunity like no other and students across 13 historically black colleges and universities get to experience it firsthand including Prairie View A&M University. With technology at the forefront of all, we do today. Coding and developing apps are what kick-started Josiah Moore's passion for engineering. "What inspired me was my teacher in high school because her curriculum was very interesting when we were doing computer science and she just inspired me, in general, to pursue it as a career," said Josiah Moore, incoming student at Prairie View A&M University The Boeing Company and TMCF is a partnership that originated in 2018, for years it's worked alongside one another to support students through their academic journeys. "Our company has a long history of engaging with HBCU's directly. I myself am a product of the engagement and recruitment that takes place at our historically black colleges and universities," said Kristin Leek, program manager for Boeing TMCF HBCU investment. Each year 15 students across 13 HBCU's are selected for a scholar program. This program not only provides students with thousands of dollars in financial aid but also a hands-on learning experience in the workplace. "Developing from a professional level being exposed to some of the top leaders in Boeing and boring being the largest aerospace company in the world, it's very huge for our students to have this exposure," shared Pamela Obiomon, Dean of the Roy G. Perry College of Engineering. What originated as a $6 million dollar investment scholarship fund has been renewed this year for $8 million dollars. "It's a reflection of the merit from the HBCU's and the students that are being impacted by the investment," said Leek. The Boeing Company and TMCF hope to continue working toward diversifying workforces, especially in industries such as engineering, business and computer science. And students like Moore look forward to earning an opportunity like this one day as well. opportunities By: Brittany Defran Posted at 11:12 PM, Jul 06, 2022 and last updated 8:12 PM, Jul 06, 2022 PRAIRIE VIEW, Texas - The Boeing Company has a deep-rooted legacy of aerospace pioneers. Now they're working to inspire future engineers and business workers through funding hands-on internship opportunities. The Boeing Company and Thurgood Marshall College Fund partnership is an opportunity like no other and students across 13 historically black colleges and universities get to experience it firsthand including Prairie View A&M University. Recent Stories from kxxv.com 25 Weather With technology at the forefront of all, we do today. Coding and developing apps are what kick-started Josiah Moore's passion for engineering. "What inspired me was my teacher in high school because her curriculum was very interesting when we were doing computer science and she just inspired me, in general, to pursue it as a career," said Josiah Moore, incoming student at Prairie View A&M University The Boeing Company and TMCF is a partnership that originated in 2018, for years it's worked alongside one another to support students through their academic journeys. "Our company has a long history of engaging with HBCU's directly. I myself am a product of the engagement and recruitment that takes place at our historically black colleges and universities," said Kristin Leek, program manager for Boeing TMCF HBCU investment. Each year 15 students across 13 HBCU's are selected for a scholar program. This program not only provides students with thousands of dollars in financial aid but also a hands-on learning experience in the workplace. "Developing from a professional level being exposed to some of the top leaders in Boeing and boring being the largest aerospace company in the world, it's very huge for our students to have this exposure," shared Pamela Obiomon, Dean of the Roy G. Perry College of Engineering. What originated as a $6 million dollar investment scholarship fund has been renewed this year for $8 million dollars. "It's a reflection of the merit from the HBCU's and the students that are being impacted by the investment," said Leek. The Boeing Company and TMCF hope to continue working toward diversifying workforces, especially in industries such as engineering, business and computer science. And students like Moore look forward to earning an opportunity like this one day as well. "It'll allow them a great opportunity to develop a deeper passion for their field because it allows them to actually practice what they're learning with the help of professionals," said Moore. Source: KXXV Jul 06, 2022: Boeing to Release Second-Quarter Results on July 27 ARLINGTON, Va., July 6, 2022 /PRNewswire/ -- The Boeing Company [NYSE: BA] will release its financial results for the second quarter of 2022 on Wednesday, July 27. President and Chief Executive Officer David Calhoun and Executive Vice President and Chief Financial Officer Brian West will discuss the results and company outlook during a conference call that day at 10:30 a.m. ET. The event will be webcast at: http://event.choruscall.com/mediaframe/webcast.html?webcastid=2HqZzkE4 The event can also be accessed by dialing 1-877-336-4436 within the U.S. and by dialing 234-720-6984 outside of the U.S. The passcode for both is 3750106. Individuals should check the webcast site prior to the session to ensure their computers can access the audio stream and slide presentation. Instructions for obtaining the required free downloadable software will be posted on the site. Source: Company Website Jul 05, 2022: Anti-Drone Market Outlook 2022 And Segmentation By Top Keyplayers - The Boeing Company, Airbus Group SE, SAAB AB, Thales Group The most recent report, distributed by Verified Market Reports, shows that Anti-Drone markets worldwide will develop at an alarming rate in the coming years. Experts took into account the market drivers,limitations,risks and openings that exist in the entire market. The report shows market speculation that incorporates estimates. A thorough examination allows a thorough understanding of the direction of the market. Global Anti-Drone Market: Segmentation For point by point valuation,the global Anti-Drone market is divided the basis of technology,products and services. This market segment allows for a detailed investigation of a large number of components that affect the market. Analysts have fastidiously examined changing examples of innovation,upcoming trends,player-created ventures in innovative work, and growing applications. In addition, experts evaluated the changing socioeconomics and changing utilization design, which affects the global Anti-Drone market. Get Sample Copy (Including FULL TOC, Graphs And Tables) Of This Report @ https://www.verifiedmarketreports.com/download-sample/?rid=34108 Study of Competitive Landscape It starts with an overview of the supplier landscape followed by industry concentration analysis and ranking of the major players in the global Anti-Drone market. In the competitive scenario, our analysis shed light on the following topics. Source: Brits in Kenya Jul 05, 2022: Aviation Test Equipment Market Size, Scope and Forecast Honeywell International Inc., Airbus SAS, The Boeing Company, Rockwell Collins Inc., Avtron Aerospace Inc., DAC International Inc., SPHEREA Test & Services, Tesscorn Systems India Pvt. Ltd., General Electric Co., 3M Company. New Jersey, United States - The Aviation Test Equipment Market research report aims at providing a quick overview of the overall performance of the industry and significant novel trends. Important insights, as well as findings, latest key drivers, and constraints, are also depicted here. A huge array of quantitative and qualitative techniques is used by market analysts including in-depth interviews, ethnography, customer surveys, and analysis of secondary data. It becomes easy for major players to collect important data regarding key organizations along with insights such as customer behavior, market size, competition, and market need. By referring to this Aviation Test Equipment market study report, it becomes easy for key players to take evidence-based decisions. This Aviation Test Equipment market study report adds the potential to impact its readers and users as the market growth rate is affected by innovative products, increasing demand for the product, raw material affluence, increasing disposable incomes, and altering consumption technologies. It also covers the effect of the COVID-19 virus on the growth and development of the market. Market players can study the report briefly before investing in the market and expecting higher returns. According to the report, the market scenario keeps on fluctuating based on many factors. Get Full PDF Sample Copy of Report: (Including Full TOC, List of Tables & Figures, Chart) @ https://www.verifiedmarketresearch.com/download-sample/?rid=33011 Key Players Mentioned in the Aviation Test Equipment Market Research Report: Honeywell International Inc., Airbus SAS, The Boeing Company, Rockwell Collins Inc., Avtron Aerospace Inc., DAC International Inc., SPHEREA Test & Services, Tesscorn Systems India Pvt. Ltd., General Electric Co., 3M Company. There are several industries wanting to determine what customers really want and the Aviation Test Equipment market report helps in this regard by carrying out in-detailed market research. Before bringing a novel product into the market, every business owner wants to know the demand for the product, and this market study report works as the best guide for them. It further helps to meet business requirements by covering all the latest market advancements. Aviation Test Equipment market report is the best medium to have close eye on the activities of leading competitors as well as strategies they are deploying for business expansion. It further makes an in-depth analysis for the evaluation period 2022-2028 to bring more business opportunities for the company owners. Source: Designer Women Jul 05, 2022: Vertical Aerospace (NYSE: EVTL) versus Boeing (NYSE: BA) Critical Analysis Boeing (NYSE:BA - Get Rating) and Vertical Aerospace (NYSE:EVTL - Get Rating) are both aerospace companies, but which is the superior investment? We will compare the two companies based on the strength of their risk, analyst recommendations, earnings, valuation, profitability, dividends and institutional ownership. Boeing currently has a consensus price target of $225.83, suggesting a potential upside of 61.49%. Vertical Aerospace has a consensus price target of $8.00, suggesting a potential upside of 165.78%. Given Vertical Aerospace's higher possible upside, analysts clearly believe Vertical Aerospace is more favorable than Boeing. Volatility and Risk Boeing has a beta of 1.36, indicating that its share price is 36% more volatile than the S&P 500. Comparatively, Vertical Aerospace has a beta of 0.25, indicating that its share price is 75% less volatile than the S&P 500. Earnings & Valuation This table compares Boeing and Vertical Aerospace's gross revenue, earnings per share and valuation. Vertical Aerospace has lower revenue, but higher earnings than Boeing. Profitability This table compares Boeing and Vertical Aerospace's net margins, return on equity and return on assets. Net Margins Return on Equity Return on Assets Boeing -8.00% N/A -4.41% Vertical Aerospace N/A N/A N/A Institutional and Insider Ownership 54.0% of Boeing shares are owned by institutional investors. Comparatively, 77.6% of Vertical Aerospace shares are owned by institutional investors. 0.1% of Boeing shares are owned by insiders. Strong institutional ownership is an indication that hedge funds, endowments and large money managers believe a stock will outperform the market over the long term. Summary Vertical Aerospace beats Boeing on 6 of the 11 factors compared between the two stocks. Source: Defense World Jul 05, 2022: Air Transport Modifications Market is Booming Worldwide with Boeing Company, AAR Corp, Air France-KLM New Jersey (United States) - A2Z Market Research published new research on Global Air Transport Modifications covering the micro-level of analysis by competitors and key business segments (2022-2029). The Global Air Transport Modifications explores a comprehensive study on various segments like opportunities, size, development, innovation, sales, and overall growth of major players. The research is carried out on primary and secondary statistics sources and it consists of both qualitative and quantitative detailing. Some of the Major Key players profiled in the study are Boeing Company, AAR Corp, Air France-KLM, Deutsche Lufthansa Aktiengesellschaft, Cobham, Honeywell International, Commuter Air Technology, Hawker Pacific, Textron, Field Aviation Company Get PDF Sample Report + All Related Table and Graphs @: https://www.a2zmarketresearch.com/sample-request/657700 The global Air Transport Modifications Market research report delivers a comprehensive analysis of market size, market trends, and market growth prospects. This report also delivers extensive information on the technology expenditure for the forecast period, which gives a unique view of the global Air Transport Modifications Market across numerous segments. The global Air Transport Modifications market report also allows consumers recognize market prospects and challenges. Various factors are responsible for the market's growth trajectory, which are studied at length in the report. In addition, the report lists down the restraints that are posing threat to the global Air Transport Modifications market. This report is a consolidation of primary and secondary research, which provides market size, share, dynamics, and forecast for various segments and sub-segments considering the macro and micro environmental factors. It also gauges the bargaining power of suppliers and buyers, threat from new entrants and product substitutes, and the degree of competition prevailing in the market. Global Air Transport Modifications Market Segmentation: Market Segmentation: By Type Interiors Avionics Upgrade Paintings PTF Conversions SB/ AD Market Segmentation: By Application Boeing Company AAR Corp Air France-KLM Deutsche Lufthansa Aktiengesellschaft Cobham Honeywell International Commuter Air Technology Hawker Pacific Textron Field Aviation Company Key market aspects are illuminated in the report: Executive Summary: It covers a summary of the most vital studies, the Global Air Transport Modifications market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers. Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the Global Air Transport Modifications market, the years measured, and the study points. Company Profile: Each Firm well-defined in this segment is screened based on a products, value, SWOT analysis, their ability and other significant features. Manufacture by region: This Global Air Transport Modifications report offers data on imports and exports, sales, production and key companies in all studied regional markets Get Special pricing with up to 30% Discount on the first purchase of this report @: https://www.a2zmarketresearch.com/discount/657700 The cost analysis of the Global Air Transport Modifications Market has been performed while keeping in view manufacturing expenses, labor cost, and raw materials and their market concentration rate, suppliers, and price trend. Other factors such as Supply chain, downstream buyers, and sourcing strategy have been assessed to provide a complete and in-depth view of the market. Buyers of the report will also be exposed to a study on market positioning with factors such as target client, brand strategy, and price strategy taken into consideration. Highlighting points of Global Air Transport Modifications Market Report: The Air Transport Modifications global market report provides an exhaustive qualitative and quantitative analysis that will provide insight into the industry. This Air Transport Modifications market insight includes data from significant participants such as marketers, industry experts, and investors. The Air Transport Modifications market report's objective is to provide an exhaustive perspective from all stakeholders for young marketers and entrepreneurs. Trends and drivers are discussed in the Air Transport Modifications Market Report The global Air Transport Modifications market report delivers an overview of the global competitive environment. It provides details about the market, its share, and revenue. The Air Transport Modifications Market research study recognizes the major growth regions, with the Asia Pacific leading during the forecast period. Table of Contents Global Air Transport Modifications Market Research Report 2022 - 2029 Chapter 1 Air Transport Modifications Market Overview Chapter 2 Global Economic Impact on Industry Chapter 3 Global Market Competition by Manufacturers Chapter 4 Global Production, Revenue (Value) by Region Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions Chapter 6 Global Production, Revenue (Value), Price Trend by Type Chapter 7 Global Market Analysis by Application Chapter 8 Manufacturing Cost Analysis Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers Chapter 10 Marketing Strategy Analysis, Distributors/Traders Chapter 11 Market Effect Factors Analysis Chapter 12 Global Air Transport Modifications Market Forecast Source: Designer Women Jul 05, 2022: Boeing (BA) Wins Deal to Offer Engineering Services to KC-135 The Boeing Company BA wins a modification contract to provide engineering sustainment services for KC-135. Valued at $14.5 million, the contract is projected to be completed by Mar 31, 2023. The work involved in the deal will be carried out at multiple locations, namely Oklahoma City, OK; San Antonio, TX; Huntsville, AL; and Fort Walton Beach, FL. Significance of KC-135 The KC-135 Stratotanker is an aerial refueling aircraft that provides core aerial refueling capability for the U.S. Air Force and has excelled in this role for more than 60 years. It also provides aerial refueling support for the Air Force, Navy, Marine Corps and allied nation aircraft. The KC-135 is also capable of transporting litter and ambulatory patients using patient support pallets during aeromedical evacuations. Of the original KC-135A, more than 417 were modified by the new CFM-56 engines produced by CFM-International. The re-engine tanker, designated as either the KC-135R or KC-135T, can offload 50% more fuel and is 25% more fuel-efficient. Moreover, it costs 25% less to operate and is 96% quieter than the KC-135A. The upgraded and modernized features of the KC-135 entail improved services and greater reliability, which may lead to the increased demand for the aircraft. The latest contract win is a bright example of that. Growth Prospects The overseas deployment, coupled with unmanned and manned aerial systems, is propelling the demand for the air-to-air refueling market. The demand is likely to be further fueled by the increased defense spending worldwide to strengthen defense capabilities. In this context, per the report from the Markets and Markets firm, the air-to-air refueling market size is projected to expand at a CAGR of 11.2% during the 2020-2025 period. Such an expanding size of the air-to-air refueling market represents the immense scope for Boeing to capitalize on the opportunity as its family of KC-135 enjoys strong demand in the air-to-air refueling market. Apart from BA, companies that can reap the benefits of the growing market are Airbus EADSY: Its A330 MRTT can carry up to 111 tons of fuel in the aerial refueling mission and features the center-line Aerial Refueling Boom System, which is fly-by-wire controlled and delivers a fast fuel flow rate. The aircraft can also be equipped with pods under each wing for hose and drogue refueling and an under-fuselage hose and drogue unit. Airbus boasts a long-term earnings growth rate of 12.4%. The Zacks Consensus Estimate for EADSY's 2022 sales indicates a growth rate of 3% from the prior-year reported figure. Lockheed Martin LMT: Its LMXT represents the most advanced strategic tanker available to the U.S. Air Force as well as the newest tanker produced by Lockheed Martin. LMXT is capable of accomplishing the full range of missions demanded from air refueling aircraft. Lockheed Martin's long-term earnings growth rate stands at 5.7%. LMT shares have returned 13.6% in the past year. Source: Nasdaq Jul 05, 2022: Flight Simulator Market Size, Scope and Forecast Thales Group, CAE The Boeing Company, The Raytheon Company, Airbus Group N.V., L-3 Communications Holdings Precision Flight Controls Flightsafety International. New Jersey, United States - The Flight Simulator Market research report aims at providing a quick overview of the overall performance of the industry and significant novel trends. Important insights, as well as findings, latest key drivers, and constraints, are also depicted here. A huge array of quantitative and qualitative techniques is used by market analysts including in-depth interviews, ethnography, customer surveys, and analysis of secondary data. It becomes easy for major players to collect important data regarding key organizations along with insights such as customer behavior, market size, competition, and market need. By referring to this Flight Simulator market study report, it becomes easy for key players to take evidence-based decisions. This Flight Simulator market study report adds the potential to impact its readers and users as the market growth rate is affected by innovative products, increasing demand for the product, raw material affluence, increasing disposable incomes, and altering consumption technologies. It also covers the effect of the COVID-19 virus on the growth and development of the market. Market players can study the report briefly before investing in the market and expecting higher returns. According to the report, the market scenario keeps on fluctuating based on many factors. Get Full PDF Sample Copy of Report: (Including Full TOC, List of Tables & Figures, Chart) @ https://www.verifiedmarketresearch.com/download-sample/?rid=33357 Key Players Mentioned in the Flight Simulator Market Research Report: Thales Group, CAE The Boeing Company, The Raytheon Company, Airbus Group N.V., L-3 Communications Holdings Precision Flight Controls Flightsafety International. There are several industries wanting to determine what customers really want and the Flight Simulator market report helps in this regard by carrying out in-detailed market research. Before bringing a novel product into the market, every business owner wants to know the demand for the product, and this market study report works as the best guide for them. It further helps to meet business requirements by covering all the latest market advancements. Flight Simulator market report is the best medium to have close eye on the activities of leading competitors as well as strategies they are deploying for business expansion. It further makes an in-depth analysis for the evaluation period 2022-2028 to bring more business opportunities for the company owners. Source: Designer Women Jul 05, 2022: Boeing, ESG and Lufthansa Technik Expand Partnership to Support German P-8A Poseidon Fleet BERLIN, July 5, 2022 - Boeing [NYSE: BA], ESG Elektroniksystem- und Logistik-GmbH and Lufthansa Technik today signed a three-party agreement that reinforces joint efforts to support Germany's new P-8A Poseidon fleet. With the new agreement, Boeing, ESG and Lufthansa Technik will be the team responsible for executing the P-8A sustainment program in Germany. "We are expanding our partnership with ESG and Lufthansa Technik in the form of a three-party agreement that will allow us to best support our German customer and the operational needs of the German Navy", said Indra Duivenvoorde, Senior Director, Boeing Government Services Europe & Israel. "This partnership demonstrates our commitment to directly supporting our customer locally with German industry primes." The new agreement builds on two separate Memoranda of Understanding that were signed separately with ESG and Lufthansa Technik in 2021 and now involves all three parties, outlining additional detail regarding each company's role in the German P-8A program. "This agreement underlines our joint performance promise and our commitment to provide the Bundeswehr with urgently needed capabilities", said Christoph Otten, CEO ESG. "At the same time, we see this as a special obligation to proactively contribute our capabilities and competencies to the programme as a long-standing technology and innovation partner of the German Armed Forces and the Naval Aviation Command, particularly in the areas of systems integration, aviation certification or secure communication." Source: Company Website Jun 30, 2022: Quarterly Activities Report: Boeing Cash Balance increases 25% As per a report dated June 30, 2022 the Cash Burn of operating activities was $3,135,000,000 for the six months ended June 30, 2022. This corresponds to an average Cash Burn Rate of $522,500,000 per month. To support this Cash Burn Rate, the cash balance of $10,090,000,000 as at June 30, 2022 should be adequate till January 30, 2024. The cash runway defined by the length of time to run out of money if it kept spending at its current rate of cash burn is 1 year, 6 months and 1 day from today's date.
Jun 29, 2022: Boeing Releases 2022 Sustainability Report, Maps Sustainable Aerospace Progress Boeing [NYSE: BA] today released its annual Sustainability Report, which further defines the company's sustainability goals and includes key metrics to measure progress of core enterprise priorities. This includes employee safety and well-being; global aerospace safety; equity, diversity and inclusion; sustainable operations; innovation and clean technologies; and community engagement. In addition, the report highlights the company's 2021 sustainability achievements, its sustainable vision for the future of flight, and environmental, social and governance (ESG) efforts in alignment with global sustainability standards. "We are honored to release our second sustainability report that builds on Boeing's family of reports already released this year and shares how our collective ESG efforts are contributing to our business and world," said Chief Sustainability Officer Chris Raymond. "The report is an important step in demonstrating our ambition to communicate transparently with all of our stakeholders, and in holding ourselves accountable as we protect, connect and explore our world - safely and sustainably." Source: Company Website Jun 27, 2022: Boeing Announces 2022 Supplier of the Year Award Winners "Each Boeing Supplier of the Year delivered impressive performance as our entire industry collaborated to drive stability through a challenging environment," said William Ampofo, vice president of Parts & Distribution Services and Supply Chain for Boeing Global Services and Chair of Boeing's Supply Chain Operations Council. "They did an outstanding job maintaining our high standards - a focus on operational excellence, quality and reliability - that allow Boeing to continue to earn the trust of our stakeholders, customers and the flying public." Source: Company Website Jun 24, 2022: Aircraft Antenna Market Size, Scope and Forecast Antcom Corporation, Azimut, Boeing Company, The Cobham PLC, Harris Corporation, Honeywell Aerospace, Mcmurdo Group, RAMI, Sensor Systems TECOM Co., Ltd. New Jersey, United States - The Aircraft Antenna Market research report examines the market in precise detail during the anticipated period. The research is divided into sections, each of which includes a market trend and change analysis. Drivers, limits, possibilities, and hurdles, as well as the impact of numerous aspects on the sector, are all variables in market dynamics. The report provides participants with critical information as well as specific recommendations for gaining a competitive advantage in the global business world. It investigates how different players compete in the global market and shows how they compete differently. The market size for the Aircraft Antenna market is calculated using a projected period included in the research study. The market's current state and trends, as well as business growth drivers, sector share, sales volume, interesting BI dashboards, and market forces, are all explored. Get Full PDF Sample Copy of Report: (Including Full TOC, List of Tables & Figures, Chart) @ https://www.verifiedmarketresearch.com/download-sample/?rid=75165 Key Players Mentioned in the Aircraft Antenna Market Research Report: Antcom Corporation, Azimut, Boeing Company, The Cobham PLC, Harris Corporation, Honeywell Aerospace, Mcmurdo Group, RAMI, Sensor Systems TECOM Co., Ltd. Our analysts have done a qualitative and quantitative analysis of the microeconomic and macroeconomic components of the Aircraft Antenna market. This study will also aid in comprehending changes in the Aircraft Antenna market's industrial supply chain, manufacturing processes and costs, sales scenarios, and market dynamics. This analysis highlights significant mergers and acquisitions, corporate expansion, differences in goods or services, market structure, competitive conditions in the Aircraft Antenna market, and market size by the participant. Source: Designer Women Jun 24, 2022: Unmanned Military Robotics Market is Poised to Grow Over 2022 - 2028 Finmeccanica SpA, The Boeing Company, Turkish Aerospace Industries Inc, Textron Inc, Israel Aerospace Industries (IAI), AeroVironment Inc, etc The report provides crucial information of the Unmanned Military Robotics market. The report analyzes the factors influencing the growth of global Unmanned Military Robotics market. The report determines the technological changes taken place in the Unmanned Military Robotics market in the recent past and their impact on the overall progress in the market. The historical data about the Unmanned Military Robotics market industry verticals is presented in the report. Segments that have introduced modern production processes, technologies, and new business models are highlighted in the Unmanned Military Robotics report. Moreover, segments that have recorded a highest share, market GDP, and demand internationally and domestically are discussed in the report. Also the segments that are headed towards negative growth and those that may a witness a greater influence in the global Unmanned Military Robotics market in the future are detailed in the report. Important organizations riving growth of these segments are presented. Moreover, shortcomings in the segments, better investment opportunities available for the Unmanned Military Robotics market participants are given in the report. Request for a sample report here https://www.orbisresearch.com/contacts/request-sample/6342134 Unmanned Military Robotics Market Report Profiles The Following Companies: Finmeccanica SpA The Boeing Company Turkish Aerospace Industries Inc Textron Inc Israel Aerospace Industries (IAI) AeroVironment Inc Lockheed Martin Corporation BAE Systems plc Northrop Grumman Corporation Tactical Robotics Aeronautics Ltd Xi'an Aisheng (ASN) Technology Group Elbit Systems Ltd Thales Group General Atomics Aeronautical Systems, Inc. (GA-ASI) Organizations that are more likely to pull ahead of their competitors are studied in detail in the report. The exponential technologies driving operational efficiencies for segments and newer business models are highlighted in the Unmanned Military Robotics market report. The economic and technological barriers acting as significant obstacles for growth of global Unmanned Military Robotics market are highlighted in the report. The market revenue, annual growth rate in previous years and forecast years of each segment are given in the report. The report determines the technological innovations in the Unmanned Military Robotics market and properly presents the demand and supply side features of the industry. The report studies the strategic behavior of the Unmanned Military Robotics market leaders and determining the key mergers and acquisitions, collaborations, and other important activities such as product launches done by the players. Source: Indian Defence News Jun 24, 2022: James Roumonada: Long-time Boeing engineer was active with Holy Rosary Church James W. Roumonada A wonderful example of one of the best of the world's "Greatest Generation", a husband, father, grand and great grandfather and friend in service to so many, James William Roumonada, passed away quietly Tuesday, June 21, 2022 in his residence at Sunrise of Edmonds, an assisted living facility in which both he and his wife, Bobbie, spent their last days. Jim was born in a small hospital in Syracuse, New York on October 15, 1925 and spent most of his youth through high school in a small, upstate New York town known as Tupper Lake. An only child, his parents were Elizabeth (Stickney) Roumonada and William Roumonada. After graduating from Tupper Lake High School in June 1943, Jim enlisted in the U.S. Navy. The Navy found Jim's math and mechanical skills could be put to good use and his training led him to serving aboard the quickly repaired U.S.S. Bunker Hill beginning in August 1945. The Bunker Hill was assigned to what was known as the "Magic Carpet" fleet of ships utilized at the end of WWII to return to the west coast many service members who spent time in the Pacific theatre. After returning home and spending time studying to become an Aeronautical Engineer at Aeronautical University in Chicago, he eventually married his first wife Joyce in 1949 and began a family that was soon interrupted by the Korean conflict. This brought Jim back into service in 1951, assigned to an Essex-class aircraft carrier U.S.S. Antietam as a Chief Petty Officer, first class, in charge of a team of servicemen who maintained the safe, operational health of their aircraft. Briefly after completing his commitment with the Navy, Jim and family moved to Seattle in December 1952 and began what would amount to a very active and successful 38-year career with the Boeing Company. He was first involved with the B-52 program. As the "Jet Age" developed, his interest moved to Boeing's development of commercial aircraft, beginning with the Boeing 707. Although Jim was a very humble guy when complementary things about him came up, he disclosed being part of a very small team of engineers who were instrumental in re-designing what was initially troubling turbulence experienced by pilots flying the original "Dash-80" aircraft, the developmental predecessor to the initial fleet of 707's. Jim initially served as a design engineer that transitioned to a quality control engineer supervising and managing teams involved with the 727, 737, 747 jetliners and, finally, the 767 jetliner, dealing with American, Canadian and Japanese subcontractors responsible for building, to tight Boeing specifications, several key structural elements of each aircraft. As is common, life's changes and challenges found Jim being separated from his first wife.However, through good friends in Spokane, Jim was ultimately introduced to Bobbie Butler, a widow and mother of 8 children, whose husband Frank passed away suddenly in 1971. After spending some good times together, Jim and Bobbie married in September 1976. Their marriage was one of personal and spiritual completion for both of them as it began a continued life involving an expanded family. This soon involved them moving to Edmonds, Washington after all the kids had graduated from high school that also initiated a new set of expanded activities and adventures. This did involve significant trailer and 5th-wheel travel after Jim retired from Boeing in 1989, with both Jim and Bobbie becoming "road warriors", visiting lifelong friends and family all over America. More importantly, this included Jim and Bobbie sharing much of their time in service to their church community in very life-giving and loving ways appreciated by many as engaged through their Roman Catholic faith at Holy Rosary Catholic Church. But, as is common to many as we age, Jim eventually experienced some tough health challenges and other issues also impacted Bobbie. Ultimately, Jim lost Bobbie in April 2022 and, thankfully, her suffering was brief. Ultimately, after nearly 46 years of marriage to Bobbie, issues with his health and simply being without his beloved wife, Bobbie, took its toll. Jim is survived by his children Dave Roumonada and his wife Theresa, and Phil Roumonada and his wife Kathy. A third son, Paul Roumonada, passed away in 2011. Jim is also survived by Bobbie's children William Butler and his wife Claudia, Mary Butler, John Butler and his wife Courtney, Hank Butler and his wife Betsy, Amber Butler, the wife of deceased son Brian Butler, Ann Owens and her husband Ed, Paul Butler and his partner Debbie and Amy Stapleton and her husband, Dan along with several grand and great-grandchildren. Jim will be missed by all of us and we are all very thankful that his nearly 97 years of life touched so many in so many life-giving and teaching ways. He was a guy who always strove to "do the right thing" and made sure it worked for the benefit of all involved. God Bless you, Jim, and rest in peace as you await opportunities to glorify God in Heaven. A Viewing and Rosary service will be held at Beck's Funeral Home in Edmonds, Washington on Wednesday June 29, 5-7PM; with a Funeral Mass to be held Thursday, June 30, 10AM at Holy Rosary Catholic Church, 630 7th Avenue North, Edmonds, WA. Please leave memories at www.beckstributecenter.com. At Jim's request, please leave any financial tributes to St. Vincent De Paul or any other charity of your choice. Source: My Edmonds News Jun 24, 2022: The Boeing Company Closed Yesterday Down -2.3% The Hourly View for The Boeing Company Currently, BA's price is down $-0.42 (-0.31%) from the hour prior. The hourly chart shows that The Boeing Company has seen 3 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment - meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The Daily View for The Boeing Company At the time of this writing, BA's price is down $-3.15 (-2.3%) from the day prior. This is a reversal of the price action on the previous day, in which price moved up. As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe. The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment - meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. Divergence between BA's price and its RSI may be manifesting. As such, be on the lookout for trend reversal in BA's price. Latest News Discussing BA Northrop (NOC) Arm Wins $248.2M Deal for MQ-4C Triton UAS - Zacks Equity Research June 23, 2022 Northrop Grumman's (NOC) business unit wins a modification contract worth $248.2 million to procure two additional low-rate initial-production Lot 5 of the MQ-4C Triton UAS. Lockheed (LMT) Wins Contract to Support MH-60R Aircraft - Zacks Equity Research June 23, 2022 Lockheed (LMT) is going to provide for modifications for final country-unique configuration requirements for 24 MH-60R aircraft. Boeing (BA) Gains As Market Dips: What You Should Know - Zacks Equity Research June 22, 2022 Boeing (BA) closed at $137.16 in the latest trading session, marking a +0.3% move from the prior day. Source: CFDTrading Jun 24, 2022: Pure Financial Advisors LLC Buys 549 Shares of The Boeing Company (NYSE: BA) Pure Financial Advisors LLC boosted its stake in The Boeing Company (NYSE:BA - Get Rating) by 14.4% in the first quarter, HoldingsChannel reports. The firm owned 4,353 shares of the aircraft producer's stock after acquiring an additional 549 shares during the period. Pure Financial Advisors LLC's holdings in Boeing were worth $834,000 as of its most recent filing with the Securities and Exchange Commission. Other large investors also recently bought and sold shares of the company. Bank of Montreal Can grew its position in shares of Boeing by 165.0% during the 4th quarter. Bank of Montreal Can now owns 4,377,572 shares of the aircraft producer's stock valued at $1,015,817,000 after acquiring an additional 2,725,602 shares during the period. Loomis Sayles & Co. L P grew its position in shares of Boeing by 19.8% during the 4th quarter. Loomis Sayles & Co. L P now owns 13,367,929 shares of the aircraft producer's stock valued at $2,691,231,000 after acquiring an additional 2,210,908 shares during the period. Clear Street LLC bought a new stake in shares of Boeing during the 4th quarter valued at $199,306,000. Nuveen Asset Management LLC grew its position in shares of Boeing by 17.9% during the 4th quarter. Nuveen Asset Management LLC now owns 3,636,168 shares of the aircraft producer's stock valued at $732,033,000 after acquiring an additional 552,493 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Boeing by 4,303.9% during the 4th quarter. American Century Companies Inc. now owns 359,311 shares of the aircraft producer's stock valued at $72,336,000 after acquiring an additional 351,152 shares during the period. 53.96% of the stock is owned by institutional investors and hedge funds. Get Boeing alerts: NYSE:BA opened at $137.16 on Thursday. The Boeing Company has a 12 month low of $113.02 and a 12 month high of $252.30. The firm has a fifty day simple moving average of $142.76 and a 200-day simple moving average of $179.63. The company has a market capitalization of $81.15 billion, a P/E ratio of -16.59 and a beta of 1.48. Boeing (NYSE:BA - Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The aircraft producer reported ($2.75) EPS for the quarter, missing the consensus estimate of ($0.26) by ($2.49). The firm had revenue of $13.99 billion for the quarter, compared to analyst estimates of $15.90 billion. During the same period in the prior year, the firm earned ($1.53) EPS. The company's revenue for the quarter was down 8.1% on a year-over-year basis. As a group, research analysts forecast that The Boeing Company will post -0.81 earnings per share for the current fiscal year. A number of equities research analysts have recently issued reports on BA shares. Cowen cut their price objective on shares of Boeing from $265.00 to $230.00 and set an "outperform" rating for the company in a research report on Monday, March 7th. Bank of America dropped their target price on shares of Boeing from $180.00 to $150.00 in a report on Tuesday, May 17th. StockNews.com downgraded shares of Boeing from a "hold" rating to a "sell" rating in a report on Friday, May 6th. UBS Group set a $263.00 target price on shares of Boeing and gave the stock a "buy" rating in a report on Thursday, April 28th. Finally, Jefferies Financial Group dropped their target price on shares of Boeing from $270.00 to $225.00 and set a "buy" rating for the company in a report on Monday, May 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $225.83. Boeing Profile (Get Rating) The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital. Source: Defense World Jun 24, 2022: Boeing Expands Safety Management System Data Analytics with Aireon Space-based ADS-B Aireon and Boeing announced a new agreement today that will add space-based Automatic Dependent Surveillance Broadcast (ADS-B) surveillance data to the aircraft manufacturer's internally operated safety data analytics suite. Under the new services agreement signed by the two companies, Aireon will provide historical and near real time aircraft event data to "select Boeing airplane programs," according to the announcement. Space-based ADS-B data will be fed to data analytics tools being used as part of Boeing's ongoing implementation and operation of an enterprise Safety Management System (SMS). Mike Delaney, who was appointed as Boeing's chief aerospace safety officer by CEO David Calhoun last year after serving as an engineering executive over the last decade, first explained how the company was adopting the new SMS during an interview featured on a podcast internally distributed to Boeing employees in January called InsideBoeing. During the podcast, Delaney explained how the SMS was being voluntarily implemented and had already begun some initial benchmarking activity at Boeing Defence UK, a U.K.-based aerospace and defense facility operated by the company. Boeing also updated its SMS company policy memo in April, with a list of 10 key principles that define its SMS. The list includes the use of "actionable key performance metrics," such as those that could be leveraged by the space-based ADS-B data that Aireon will provide to Boeing under their new agreement. Boeing Chief Sustainability Officer (CSO) Chris Raymond also discussed the SMS rollout by Boeing during a recent appearance on a Jefferies Virtual A&D ESG Summit Conference webcast. "It's a system where you're really constantly receiving data and input. And to receive data and input, you need a culture where people want to speak up, and they realized that is what you want them to do and they're not hesitant to do that, whether they're in the supply base or they're in your operational customer sets or in your own employee base," Raymond said. The FAA defines an SMS as a top-down structured process that requires aviation organizations to manage safety "with the same level of priority that other core business processes are managed." The agency first started requiring commercial airlines authorized to conduct operations under 14 CFR Part 121 to implement an SMS in 2018. Vishwa Uddanwadiker, the safety analytics lead within Boeing's Chief Aerospace Safety Office (CASO), told Avionics International in an emailed statement that Boeing already has access to ground-based ADS-B data, and incorporating the space-based global view will enhance their knowledge of "flight operations and performance during various phases of flight and help us build probabilistic risk models." "It will provide us a holistic or broader view of our fleet and help us strengthen our safety management system implementation. Boeing will be able to analyze the flight path," Uddanwadiker said. "The data can be used to help to identify hazards and monitor emerging safety trends. Expanding our stream of performance data supports our effort to proactively strengthen the safety of our products and services." Uddanwadiker also confirmed that Boeing will not be using any of the space-based ADS-B data provided by Aireon for commercial services. AireonINSIGHTS, the Microsoft Azure-based platform that will feed Boeing's SMS, is capable of combining space-based ADS-B data with aviation contextual data like infrastructure, weather, avionics, and aircraft registry and scheduling data, according to the company's website. Since the introduction of its space-based ADS-B network in 2019, Aireon has continued to expand the number of services and applications powered by its global surveillance capability, including leveraging "advanced machine learning and analytics functionality" that could go beyond its core air navigation service provider (ANSP) customer base to support airlines, airport operators, leasing companies, and unmanned aircraft system operations, among others, according to a June 20 press release. Don Thoma, Aireon CEO, said the latest agreement "unlocks a cache of information for Boeing regarding the operations of its aircraft in the global airspace." Source: Aviation Today Jun 23, 2022: BOEING CO : Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K) Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On June 21, 2022, the Board of Directors (the "Board") of The Boeing Company (the "Company") elected David L. Gitlin as a director. Mr. Gitlin is Chairman and Chief Executive Officer of Carrier Global Corporation. Prior to his election as chairman in April 2021, he served as president and CEO of Carrier. Mr. Gitlin previously served in a number of leadership roles at United Technologies Corporation, including president and chief operating officer of Collins Aerospace Systems, president of UTC Aerospace Systems, president of Aircraft Systems, UTC Aerospace Systems, and the following positions with Hamilton Sundstrand: president of Aerospace Customers & Business Development; vice president of Auxiliary Power, Engine & Control Systems; vice president and general manager of Power Systems; and vice president of Pratt & Whitney programs. The Board has appointed Mr. Gitlin to the Aerospace Safety Committee and the Finance Committee. Mr. Gitlin will participate in the Company's nonemployee director compensation program, which is described beginning on page 23 of the Company's proxy statement for its 2022 Annual Meeting of Shareholders filed with the Securities and Exchange Commission on March 11, 2022. A copy of the Company's press release relating to this matter is attached hereto as Exhibit 99.1 and is incorporated herein by reference. Item 9.01. Financial Statements and Exhibits. Source: MarketScreener Jun 23, 2022: Boeing exec plays up 737 Max 10's appeal as competitor to Airbus' A321neo Boeing's marketing lead says the Max 10 competes most directly against the Airbus' largest A321neo variant, the XLR, which makes up only around 10% of the plane's overall orders. Source: The Business Journals Jun 23, 2022: Boeing elects David L. Gitlin to Board of Directors The Boeing Company [NYSE: BA] Board of Directors today announced that it has elected David L. Gitlin as its newest member. Gitlin will join the Aerospace Safety Committee and the Finance Committee. Gitlin, 53, currently serves as chairman and chief executive officer of Carrier and brings to the Board more than 20 years of aerospace industry experience. He previously served in several executive leadership roles, including as president and chief operating officer of Collins Aerospace Systems, and as president of UTC Aerospace Systems. "Dave is a proven leader with deep aerospace, manufacturing and supply chain expertise," said Boeing Chairman Larry Kellner. "With his consistent focus on safety and track record of operational expertise, Dave will add critical experience and perspective to our Board." Boeing President and CEO Dave Calhoun said, "Dave is an excellent addition to our Board as we continue to rebuild trust, strengthen safety and quality and drive stability throughout our operations. We will benefit greatly from Dave's significant experience leading complex enterprises focused on engineering, manufacturing, safety and quality." Since April 2019, seven independent directors have joined the Board. These directors collectively bring significant experience in aerospace, safety, engineering, manufacturing, cyber, software, risk oversight, audit, supply chain management and finance. Gitlin's election to the Board fulfills the Company's commitment, as part of the settlement of certain shareholder derivative claims in March 2022, to add another director with aerospace, engineering or safety systems background to the Board. Source: Skies Magazine Jun 23, 2022: The Boeing Company is Down for the 2nd Day in a Row The Hourly View for The Boeing Company At the moment, BA's price is up $0.85 (0.63%) from the hour prior. The Boeing Company has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 50 hour moving average, resulting in them with price now being above it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment - meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The Daily View for The Boeing Company Currently, BA's price is down $-0.48 (-0.35%) from the day prior. The daily chart shows that The Boeing Company has seen 2 straight down days. If you're a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe. The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment - meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. Divergence between BA's price and its RSI may be manifesting. As such, be on the lookout for trend reversal in BA's price. Source: CFDTrading Jun 23, 2022: Boeing : Elects David L. Gitlin to Board of Directors - Form 8-K ARLINGTON, Va., June 21, 2022 - The Boeing Company [NYSE: BA] Board of Directors today announced that it has elected David L. Gitlin as its newest member. Gitlin will join the Aerospace Safety Committee and the Finance Committee. Gitlin, 53, currently serves as chairman and chief executive officer of Carrier and brings to the Board more than 20 years of aerospace industry experience. He previously served in several executive leadership roles, including as president and chief operating officer of Collins Aerospace Systems, and as president of UTC Aerospace Systems. "Dave is a proven leader with deep aerospace, manufacturing and supply chain expertise," said Boeing Chairman Larry Kellner. "With his consistent focus on safety and track record of operational expertise, Dave will add critical experience and perspective to our Board." Boeing President and CEO Dave Calhoun said, "Dave is an excellent addition to our Board as we continue to rebuild trust, strengthen safety and quality and drive stability throughout our operations. We will benefit greatly from Dave's significant experience leading complex enterprises focused on engineering, manufacturing, safety and quality." Since April 2019, seven independent directors have joined the Board. These directors collectively bring significant experience in aerospace, safety, engineering, manufacturing, cyber, software, risk oversight, audit, supply chain management and finance. Gitlin's election to the Board fulfills the Company's commitment, as part of the settlement of certain shareholder derivative claims in March 2022, to add another director with aerospace, engineering or safety systems background to the Board. About David Gitlin David Gitlin is chairman and chief executive officer of Carrier. Prior to his election as chairman in April 2021, he served as president and CEO of Carrier. Gitlin previously served in a number of leadership roles at United Technologies Corporation, including president and chief operating officer of Collins Aerospace Systems, president of UTC Aerospace Systems, president of Aircraft Systems, UTC Aerospace Systems, and the following positions with Hamilton Sundstrand: president of Aerospace Customers & Business Development; vice president of Auxiliary Power, Engine & Control Systems; vice president and general manager of Power Systems; and vice president of Pratt & Whitney programs. Gitlin earned a bachelor's degree from Cornell University, a Juris Doctor from the University of Connecticut School of Law and an MBA from MIT's Sloan School of Management. As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing's diverse team is committed to innovating for the future and living the company's core values of safety, quality and integrity. Learn more at www.boeing.com. Source: MarketScreener Jun 23, 2022: Target Drone Market 2021 Growing Demand and Precise Outlook- The Boeing Company, Qinetiq Group plc, Northrop Grumman Corporation, Lockheed Martin Corporation, Griffon Aerospace, Leonardo S.p.A Global Target Drone market Forecast from 2021-2028 The new record on the global Target Drone market is centered on offering a benefit to the business major parts in the serious grounds over the business space by giving bits of knowledge about the angles that assume a significant part in the business development and assists them with taking clear choices about their methodologies in the business space. The data is accumulated from a couple of sources and the models apparent from the bona fide data and the current business floats that are happening in this market space. It joins granular experiences concerning the huge market drivers, advancement openings, pay possibilities, and huge challenges and threats that imperatively influence the augmentation of the business space. The Latest report published by Adroit Market Research on Target Drone market. We have complete segmentation. WE will also be offering you with major companies, their revenues, Go to Market strategies and their new product introduction and market saturation strategies. Please click here to register for Sample Report @ https://www.adroitmarketresearch.com/contacts/request-sample/2653 The global Target Drone market report provides detailed analysis, revenue insights, and other related information for the market along with recent trends, drivers, challenges, restraints, threats, and opportunities. The report includes market size, share, and forecast in terms of volume and value based on key industry players, regions, and segments including historical data for forecast period of 2021 to 2028. As analytics have become an inherent part of every business activity and role, form a central role in the decision-making process of companies these days is mentioned in this report. In the next few years, the demand for the market is expected to substantially rise globally, enabling healthy growth of the Target Drone Market is also detailed in the report. This report highlights the manufacturing cost structure includes the cost of the materials, labor cost, depreciation cost, and the cost of manufacturing procedures. Price analysis and analysis of equipment suppliers are also done by the analysts in the report. Scope of the Global Target Drone market: This research report represents a 360-degree overview of the competitive landscape of the Target Drone Market. Furthermore, it offers massive data relating to recent trends, technological advancements, tools, and methodologies. The research report analyzes the Target Drone Market in a detailed and concise manner for better insights into the businesses. The top companies in this report include: The Boeing Company, Qinetiq Group plc, Northrop Grumman Corporation, Lockheed Martin Corporation, Griffon Aerospace, Leonardo S.p.A, Embention, Denel Dynamics, BAE Systems plc, and Airbus S.A.S The report, with the assistance of nitty-gritty business profiles, project practicality analysis, SWOT examination, and a few different insights about the key organizations working in the Target Drone Market, exhibits a point-by-point scientific record of the market's competitive scenario. The report likewise displays a review of the effect of recent developments in the market on market's future development prospects. Source: Indian Defence News Jun 22, 2022: Stonnington Group LLC Has $2.45 Million Holdings in The Boeing Company (NYSE: BA) Stonnington Group LLC lessened its stake in The Boeing Company (NYSE:BA - Get Rating) by 4.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,989 shares of the aircraft producer's stock after selling 647 shares during the quarter. Stonnington Group LLC's holdings in Boeing were worth $2,448,000 at the end of the most recent reporting period. Several other institutional investors also recently added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC acquired a new position in Boeing during the fourth quarter worth $27,000. Strategic Asset Management LLC boosted its holdings in Boeing by 102.9% during the fourth quarter. Strategic Asset Management LLC now owns 138 shares of the aircraft producer's stock worth $28,000 after purchasing an additional 70 shares during the last quarter. CarsonAllaria Wealth Management Ltd. acquired a new position in Boeing during the fourth quarter worth $28,000. Global Trust Asset Management LLC boosted its holdings in Boeing by 1,427.3% during the fourth quarter. Global Trust Asset Management LLC now owns 168 shares of the aircraft producer's stock worth $34,000 after purchasing an additional 157 shares during the last quarter. Finally, AHL Investment Management Inc. bought a new stake in Boeing during the fourth quarter worth $39,000. Institutional investors own 53.96% of the company's stock. Get Boeing alerts: Several analysts have issued reports on the stock. UBS Group set a $263.00 price target on shares of Boeing and gave the stock a "buy" rating in a research report on Thursday, April 28th. Sanford C. Bernstein dropped their price objective on shares of Boeing from $239.00 to $216.00 in a research report on Thursday, April 28th. JPMorgan Chase & Co. set a $190.00 price objective on shares of Boeing in a research report on Tuesday, May 24th. Wells Fargo & Company dropped their price objective on shares of Boeing from $250.00 to $214.00 in a research report on Thursday, April 28th. Finally, Jefferies Financial Group lowered their price target on shares of Boeing from $270.00 to $225.00 and set a "buy" rating on the stock in a research report on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Boeing presently has an average rating of "Moderate Buy" and a consensus price target of $225.83. Shares of Boeing stock traded down $0.24 during trading on Wednesday, hitting $136.51. 86,043 shares of the company's stock traded hands, compared to its average volume of 10,027,126. The stock has a market capitalization of $80.76 billion, a P/E ratio of -16.54 and a beta of 1.48. The business has a 50-day simple moving average of $143.68 and a 200-day simple moving average of $179.93. The Boeing Company has a 1 year low of $113.02 and a 1 year high of $252.30. Boeing (NYSE:BA - Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The aircraft producer reported ($2.75) earnings per share for the quarter, missing analysts' consensus estimates of ($0.26) by ($2.49). The firm had revenue of $13.99 billion during the quarter, compared to analysts' expectations of $15.90 billion. The firm's quarterly revenue was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.53) earnings per share. Research analysts expect that The Boeing Company will post -0.81 EPS for the current year. Source: Defense World Jun 22, 2022: Boeing Elects David L. Gitlin to Board of Directors ARLINGTON, Va., June 21, 2022 /PRNewswire/ -- The Boeing Company [NYSE: BA] Board of Directors today announced that it has elected David L. Gitlin as its newest member. Gitlin will join the Aerospace Safety Committee and the Finance Committee. Gitlin, 53, currently serves as chairman and chief executive officer of Carrier and brings to the Board more than 20 years of aerospace industry experience. He previously served in several executive leadership roles, including as president and chief operating officer of Collins Aerospace Systems, and as president of UTC Aerospace Systems. "Dave is a proven leader with deep aerospace, manufacturing and supply chain expertise," said Boeing Chairman Larry Kellner. "With his consistent focus on safety and track record of operational expertise, Dave will add critical experience and perspective to our Board." Boeing President and CEO Dave Calhoun said, "Dave is an excellent addition to our Board as we continue to rebuild trust, strengthen safety and quality and drive stability throughout our operations. We will benefit greatly from Dave's significant experience leading complex enterprises focused on engineering, manufacturing, safety and quality." Since April 2019, seven independent directors have joined the Board. These directors collectively bring significant experience in aerospace, safety, engineering, manufacturing, cyber, software, risk oversight, audit, supply chain management and finance. Gitlin's election to the Board fulfills the Company's commitment, as part of the settlement of certain shareholder derivative claims in March 2022, to add another director with aerospace, engineering or safety systems background to the Board. About David Gitlin David Gitlin is chairman and chief executive officer of Carrier. Prior to his election as chairman in April 2021, he served as president and CEO of Carrier. Gitlin previously served in a number of leadership roles at United Technologies Corporation, including president and chief operating officer of Collins Aerospace Systems, president of UTC Aerospace Systems, president of Aircraft Systems, UTC Aerospace Systems, and the following positions with Hamilton Sundstrand: president of Aerospace Customers & Business Development; vice president of Auxiliary Power, Engine & Control Systems; vice president and general manager of Power Systems; and vice president of Pratt & Whitney programs. Gitlin earned a bachelor's degree from Cornell University, a Juris Doctor from the University of Connecticut School of Law and an MBA from MIT's Sloan School of Management. As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing's diverse team is committed to innovating for the future, leading with sustainability, and cultivating a culture based on the company's core values of safety, quality and integrity. Join our team and find your purpose at boeing.com/careers. Source: PR Newswire Jun 22, 2022: Moody National Bank Trust Division Cuts Holdings in The Boeing Company (NYSE: BA) Moody National Bank Trust Division decreased its holdings in The Boeing Company (NYSE:BA - Get Rating) by 13.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,519 shares of the aircraft producer's stock after selling 2,021 shares during the period. Moody National Bank Trust Division's holdings in Boeing were worth $2,589,000 at the end of the most recent quarter. Several other large investors have also made changes to their positions in BA. Karn Couzens & Associates Inc. grew its stake in Boeing by 3.4% during the 4th quarter. Karn Couzens & Associates Inc. now owns 1,534 shares of the aircraft producer's stock valued at $309,000 after acquiring an additional 50 shares in the last quarter. Alpha Omega Group Inc. grew its stake in Boeing by 4.2% during the 4th quarter. Alpha Omega Group Inc. now owns 1,248 shares of the aircraft producer's stock valued at $251,000 after acquiring an additional 50 shares in the last quarter. CKW Financial Group grew its stake in Boeing by 25.0% during the 4th quarter. CKW Financial Group now owns 250 shares of the aircraft producer's stock valued at $50,000 after acquiring an additional 50 shares in the last quarter. Trust Investment Advisors grew its stake in Boeing by 1.7% during the 4th quarter. Trust Investment Advisors now owns 3,132 shares of the aircraft producer's stock valued at $631,000 after acquiring an additional 52 shares in the last quarter. Finally, Cadence Bank NA boosted its holdings in Boeing by 1.7% in the 4th quarter. Cadence Bank NA now owns 3,284 shares of the aircraft producer's stock valued at $661,000 after purchasing an additional 55 shares during the last quarter. 53.96% of the stock is owned by hedge funds and other institutional investors. Get Boeing alerts: Shares of NYSE:BA traded down $0.77 during trading hours on Wednesday, reaching $135.98. The stock had a trading volume of 63,094 shares, compared to its average volume of 10,027,126. The Boeing Company has a 1 year low of $113.02 and a 1 year high of $252.30. The firm's 50 day moving average is $143.68 and its 200-day moving average is $179.93. The stock has a market capitalization of $80.45 billion, a price-to-earnings ratio of -16.54 and a beta of 1.48. Boeing (NYSE:BA - Get Rating) last posted its earnings results on Wednesday, April 27th. The aircraft producer reported ($2.75) EPS for the quarter, missing analysts' consensus estimates of ($0.26) by ($2.49). The company had revenue of $13.99 billion for the quarter, compared to analysts' expectations of $15.90 billion. Boeing's revenue was down 8.1% on a year-over-year basis. During the same quarter last year, the business earned ($1.53) earnings per share. Equities research analysts anticipate that The Boeing Company will post -0.81 earnings per share for the current fiscal year. Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. set a $190.00 target price on shares of Boeing in a report on Tuesday, May 24th. Robert W. Baird decreased their target price on shares of Boeing from $306.00 to $245.00 in a report on Thursday, April 28th. Jefferies Financial Group decreased their target price on shares of Boeing from $270.00 to $225.00 and set a "buy" rating on the stock in a report on Monday, May 2nd. UBS Group set a $263.00 price objective on shares of Boeing and gave the stock a "buy" rating in a report on Thursday, April 28th. Finally, Langenberg & Company assumed coverage on shares of Boeing in a report on Wednesday, March 9th. They issued a "buy" rating on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Boeing currently has an average rating of "Moderate Buy" and a consensus price target of $225.83. Boeing Profile (Get Rating) The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital. Source: Defense World Jun 22, 2022: Marietta Wealth Management LLC Has $3.56 Million Stake in The Boeing Company (NYSE: BA) Marietta Wealth Management LLC lifted its stake in shares of The Boeing Company (NYSE:BA - Get Rating) by 48.1% during the first quarter, Holdings Channel reports. The fund owned 18,589 shares of the aircraft producer's stock after buying an additional 6,041 shares during the quarter. Marietta Wealth Management LLC's holdings in Boeing were worth $3,560,000 as of its most recent SEC filing. Other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its position in shares of Boeing by 11.3% during the 4th quarter. Allworth Financial LP now owns 10,140 shares of the aircraft producer's stock valued at $2,041,000 after acquiring an additional 1,029 shares during the period. Rockland Trust Co. increased its stake in Boeing by 33.7% during the 4th quarter. Rockland Trust Co. now owns 9,673 shares of the aircraft producer's stock valued at $1,948,000 after purchasing an additional 2,436 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Boeing during the 4th quarter valued at $16,701,000. First International Bank & Trust bought a new stake in Boeing during the 4th quarter valued at $232,000. Finally, Lee Capital Holdings LLC increased its stake in Boeing by 50.0% during the 4th quarter. Lee Capital Holdings LLC now owns 15,000 shares of the aircraft producer's stock valued at $3,020,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors own 53.96% of the company's stock. Get Boeing alerts: A number of analysts have commented on the stock. Sanford C. Bernstein decreased their price target on shares of Boeing from $239.00 to $216.00 in a research note on Thursday, April 28th. StockNews.com lowered shares of Boeing from a "hold" rating to a "sell" rating in a research note on Friday, May 6th. JPMorgan Chase & Co. set a $190.00 price target on shares of Boeing in a research note on Tuesday, May 24th. Morgan Stanley decreased their price target on shares of Boeing from $288.00 to $230.00 and set an "overweight" rating for the company in a research note on Friday, April 8th. Finally, Citigroup upgraded shares of Boeing from a "neutral" rating to a "buy" rating and reduced their target price for the stock from $219.00 to $209.00 in a research note on Thursday, June 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $225.83. BA traded down $1.21 during trading on Wednesday, hitting $135.54. 49,148 shares of the company traded hands, compared to its average volume of 10,027,126. The firm has a market cap of $80.19 billion, a P/E ratio of -16.54 and a beta of 1.48. The stock's fifty day moving average is $143.68 and its 200 day moving average is $179.93. The Boeing Company has a one year low of $113.02 and a one year high of $252.30. Boeing (NYSE:BA - Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The aircraft producer reported ($2.75) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($2.49). The company had revenue of $13.99 billion for the quarter, compared to the consensus estimate of $15.90 billion. The business's revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.53) EPS. On average, research analysts anticipate that The Boeing Company will post -0.81 earnings per share for the current fiscal year. Boeing Company Profile (Get Rating) The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital. Source: Defense World Jun 21, 2022: Boeing (LON: BOE) Stock Price Crosses Below 200-Day Moving Average of $180.42 Shares of The Boeing Company (LON:BOE - Get Rating) passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of GBX 180.42 ($2.21) and traded as low as GBX 131.76 ($1.61). Boeing shares last traded at GBX 136.93 ($1.68), with a volume of 194 shares trading hands. The company has a 50 day moving average of GBX 144.56 and a 200-day moving average of GBX 180.42. The stock has a market cap of Pound810.13 million and a price-to-earnings ratio of -16.53. The company has a debt-to-equity ratio of 6,813.79, a quick ratio of 0.29 and a current ratio of 1.30. The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital. Recommended Stories What To Buy Before The Q2 Earnings Season Kicks Off Target Is The Most Downgraded Stock You Can Buy Now Ride Out The Recession With These Dividend Kings MarketBeat: Week in Review 6/13 - 6/17 eBay's Long Term Fundamentals Are Intact If You Can Stomach Short Term Volatility Source: Defense World Jun 21, 2022: Artificial Intelligence and Robotics in Aerospace and Defense Market Size Growth Overview by 2028 - Lockheed Martin Corporation, Airbus SE, The Boeing Company, IBM, Iris Automation Inc., etc The Artificial Intelligence and Robotics in Aerospace and Defense market study report examines the present status, size, and developments of the Artificial Intelligence and Robotics in Aerospace and Defense business in great depth. The focus of Artificial Intelligence and Robotics in Aerospace and Defense market analysis is on a market's reach, potential, development opportunities, and history. This study provides a fundamental and broad overview of the Artificial Intelligence and Robotics in Aerospace and Defense industry, as well as in-depth industry features that drive market growth. The Artificial Intelligence and Robotics in Aerospace and Defense sector was the focus of the SWOT, PESTEL, and Porter's Five Forces investigations. Artificial Intelligence and Robotics in Aerospace and Defense market forecasts for various service providers' budgets during the forecasted period are included in the study. In this study, graphs and percentages, important data, and a reliable source of direction are utilized to provide a comprehensive evaluation of the global Artificial Intelligence and Robotics in Aerospace and Defense industry. The industry segmentation section's market product use section includes detailed information about market product usage. For each product category, the study examines the current and predicted market value, pricing trends, and returns. Request for a sample report here https://www.orbisresearch.com/contacts/request-sample/5996163 Artificial Intelligence and Robotics in Aerospace and Defense Market Leading Vendors includes: Lockheed Martin Corporation Airbus SE The Boeing Company IBM Iris Automation Inc. Intel Corporation Thales SA General Electric Nvidia Corporation SITA The Artificial Intelligence and Robotics in Aerospace and Defense market analysis provides some crucial recommendations for a new picture of the business before assessing the firm's prospects. The Artificial Intelligence and Robotics in Aerospace and Defense study conducts a full industry assessment to identify the major suppliers by combining all important items and services in order to comprehend the positions of the leading industry participants in the Artificial Intelligence and Robotics in Aerospace and Defense industry. This report also includes a demand forecast and historical evidence for the Artificial Intelligence and Robotics in Aerospace and Defense market, which has an impact on global industry growth. The Artificial Intelligence and Robotics in Aerospace and Defense market is primarily split into: Hardware Software Service The Artificial Intelligence and Robotics in Aerospace and Defense market applications cover: Military Commercial Aviation Space An investigation of market Artificial Intelligence and Robotics in Aerospace and Defense reveals a lot about industry trends, and shop supply chain strategies. Similarly, the Artificial Intelligence and Robotics in Aerospace and Defense market report digs deep into the major service providers and presents a balanced view of the current competitive landscape. The analysis also identifies existing and emerging industry patterns that are favorable to the Artificial Intelligence and Robotics in Aerospace and Defense market's growth. Ask our Expert if You Have a Query at: https://www.orbisresearch.com/contacts/enquiry-before-buying/5996163 Key Points Covered in the Report: Exclusive projections, company information, competitive evaluations, and market trends are included in the Artificial Intelligence and Robotics in Aerospace and Defense research report. The research also contains a market estimate and prognosis for the industry based on product consumption and geographic location. 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Key Reasons to Purchase this Report: - To determine the cost of entrance into the global Artificial Intelligence and Robotics in Aerospace and Defense market for newcomers. - In order to establish item dispatch and resource developments, extensive study into the general expansion of the Artificial Intelligence and Robotics in Aerospace and Defense market is required. - This market research study looks at the whole global Artificial Intelligence and Robotics in Aerospace and Defense industry, covering market dynamics and potential developments that will benefit from the sector's existing environment and external position. - The top suppliers, dealers, partnerships, market classifications, marketplaces, and companies are all included in the Artificial Intelligence and Robotics in Aerospace and Defense analysis. - The complete study examines the entire industry environment critically. Source: Indian Defence News Jun 21, 2022: Display Semiconductor Components Market by 2029 ABB Group, the Boeing Company, Rotec Engineering New Jersey (United States) - A2Z Market Research published new research on Global Display Semiconductor Components covering the micro-level of analysis by competitors and key business segments (2022-2029). The Global Display Semiconductor Components explores a comprehensive study on various segments like opportunities, size, development, innovation, sales, and overall growth of major players. The research is carried out on primary and secondary statistics sources and it consists of both qualitative and quantitative detailing. Some of the Major Key players profiled in the study are Hitachi AIC Inc., Infineon Technologies AG, Texas Instruments, Inc. Analog Devices, Inc., NXP Semiconductors N.V. (Netherlands), Panasonic Corporation, Toshiba Corporation, STMicroelectronics (Switzerland), Renesas Electric Corporation, Maxim Integrated Get PDF Sample Report + All Related Table and Graphs @: https://www.a2zmarketresearch.com/sample-request/393846 Various factors are responsible for the market's growth trajectory, which are studied at length in the report. In addition, the report lists down the restraints that are posing threat to the global Display Semiconductor Components market. This report is a consolidation of primary and secondary research, which provides market size, share, dynamics, and forecast for various segments and sub-segments considering the macro and micro environmental factors. It also gauges the bargaining power of suppliers and buyers, threat from new entrants and product substitutes, and the degree of competition prevailing in the market. Key market aspects are illuminated in the report: Executive Summary: It covers a summary of the most vital studies, the Global Display Semiconductor Components market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers. Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the Global Display Semiconductor Components market, the years measured, and the study points. Company Profile: Each Firm well-defined in this segment is screened based on a products, value, SWOT analysis, their ability and other significant features. Manufacture by region: This Global Display Semiconductor Components report offers data on imports and exports, sales, production and key companies in all studied regional markets Market Segmentation: By Geographical Analysis The Middle East and Africa (GCC Countries and Egypt) North America (the United States, Mexico, and Canada) South America (Brazil etc.) Europe (Turkey, Germany, Russia UK, Italy, France, etc.) Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia) Get Special pricing with up to 30% Discount on the first purchase of this report @: https://www.a2zmarketresearch.com/discount/393846 The cost analysis of the Global Display Semiconductor Components Market has been performed while keeping in view manufacturing expenses, labor cost, and raw materials and their market concentration rate, suppliers, and price trend. Other factors such as Supply chain, downstream buyers, and sourcing strategy have been assessed to provide a complete and in-depth view of the market. Buyers of the report will also be exposed to a study on market positioning with factors such as target client, brand strategy, and price strategy taken into consideration. Key questions answered in the report include: who are the key market players in the Display Semiconductor Components Market? Which are the major regions for dissimilar trades that are expected to eyewitness astonishing growth for the Display Semiconductor Components Market? What are the regional growth trends and the leading revenue-generating regions for the Display Semiconductor Components Market? What will be the market size and the growth rate by the end of the forecast period? What are the key Display Semiconductor Components market trends impacting the growth of the market? What are the major Product Types of Display Semiconductor Components? What are the major applications of Display Semiconductor Components? Which Display Semiconductor Components Services technologies will top the market in next 7 years? Table of Contents Global Display Semiconductor Components Market Research Report 2022 - 2029 Chapter 1 Display Semiconductor Components Market Overview Chapter 2 Global Economic Impact on Industry Chapter 3 Global Market Competition by Manufacturers Chapter 4 Global Production, Revenue (Value) by Region Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions Chapter 6 Global Production, Revenue (Value), Price Trend by Type Chapter 7 Global Market Analysis by Application Chapter 8 Manufacturing Cost Analysis Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers Chapter 10 Marketing Strategy Analysis, Distributors/Traders Chapter 11 Market Effect Factors Analysis Chapter 12 Global Display Semiconductor Components Market Forecast Buy the Full Research Report of Global Display Semiconductor Components Market @: : https://www.a2zmarketresearch.com/checkout If you have any special requirements, please let us know and we will offer you the report as you want. you can also get individual chapter-wise sections or region-wise report versions like North America, Europe or Asia. Source: Indian Defence News Jun 21, 2022: An inside look at Boeing's Ridley Park facility and what the company is currently building there Boeing headquarters its Vertical Lift division for military helicopter production just south of Philadelphia International Airport at the company's Ridley Park facility. There, it works on producing and modernizing battle-ready and battle-tested helicopters. Boeing employs over 4,000 people at the nearly 3-million-square-foot complex, which plays a role in manufacturing a number of military helicopters including the V-22 Osprey and the H-47 Chinook. The company also hopes to make it a base for the development and production of the U.S. Army's Black Hawk successor - the Defiant X. UNLOCK EVERY ARTICLE Get Started For Only $4 GAIN ACCESS TO EVERY LOCAL INSIGHT, LEAD AND MORE! Become A Member Among the aircraft that have come and gone from Ridley Park are some that have been in Kyiv, Ukraine, and the U.S. military pullout in Afghanistan, as well as a helicopter that transported the body of Osama bin Laden after he was killed by Navy SEALs. As Mark Cherry, vice president for vertical lift at Boeing Defense, puts it, "Nothing hovers in Boeing that doesn't run out of here." During a recent visit to the facility, V-22 Ospreys lined one side of the production space like 32,000-pound cars waiting to be worked on by an auto mechanic. On the other side of the facility was the production line for the CH-47 Chinooks, some going to allied countries, others made specifically for the U.S. military. The sprawling Delaware County complex isn't just a player in military defense, it's also an economic driver for Pennsylvania. It works with 366 different suppliers and vendors in the state, spending $492 million annually as of 2021. That allows it to directly and indirectly support 15,000 jobs. Here's a look at what Boeing (NYSE: BA) is currently working on in Ridley Park: Common Configuration - Readiness and Modernization (CCRAM) program Beginning at 5:30 a.m. each day, Boeing employees get to work on restoring V-22 Ospreys, many of them originally manufactured in the early 2000s. The aircraft are stripped, remedied and reassembled as they move down the production line. The final stage of the refurbishing is a fresh paint job, a step worth recognizing at the Boeing site. "To be able to push a V-22 to paint and get it to completion status is such a great feeling, especially when we were able to fix some issues with this one that we've never seen in Philly," said Derek Carpenter, a former marine who works at Boeing. The Osprey he was working on is about to get its paint job, and Carpenter said a celebration usually accompanies the final step. Recommended Career & Workplace As counteroffers get aggressive, some workers ponder fake job offers Commercial Real Estate Uptown hotel with rooftop bar lands key approval Manufacturing Boeing wants to build the next generation of Black Hawk helicopters. Here's why Philadelphia could benefit. The entire process can take about two years, but Shane Openshaw, vice president of Tiltrotor programs, said the goal is to cut that time down to 12 months as his team works to rescope the modification program. Right now, the facility has about 16 helicopters on the line. H-47 Chinook production for domestic and international customers On the other side of Boeing's production facility it manufactures the H-47 Chinook, a heavy-lift helicopter. Boeing has a contract with the U.S. Army to build the Chinooks, but it also produces the aircraft for allied countries. For example, Germany's armed forces recently contracted Boeing to make CH-47 Chinooks in Ridley Park. Ken Eland, vice president and program manager of the Cargo Helicopter Program, said that production lines for the Chinooks vary based on the customers. Two production lines run the length of the facility - the "alt line" for international customers and the "main line" for helicopters built for the U.S. military. The aircraft Boeing makes for the U.S. Army take about 30 months from start to finish. The orders are uniform and recurring, which helps make the production more efficient, Eland said. Almost all of the international Chinooks, however, are built on spec. Those often take about a year longer to complete. Boeing looking to grow its presence in the Philadelphia area If Boeing is awarded the U.S. Army contract to overhaul the Black Hawk fleet, it could mean substantial job creation for the region. Regardless, Cherry and other Boeing brass in Ridley Park are looking to grow its pipeline of local talent. "We want to be an integral part of the fabric of the Philadelphia community," Cherry said. One way the company is doing that is by bolstering its internship program and partnerships with local vocational schools and community colleges. Boeing is also thinking about adding a high school internship-style program to reach the talent pool sooner. Cherry added that the Defiant X could be a boon to the company's ability to attract regional talent. Reaching students and showing them the potential breadth of the project and its worldwide impact could be a selling point. "There's not that many times you can say you're working on the most technologically advanced rotorcraft in the world," Cherry said. Source: The Business Journals Jun 21, 2022: Akasa Air's first Boeing aircraft lands at IGI airport Billionaire investor Rakesh Jhunjhunwala-promoted Akasa Air on Tuesday received its first plane from American aerospace company Boeing. Boeing's 737 Max aircraft, which flew from Seattle, touched down at Indira Gandhi International Airport in New Delhi this morning. "The delivery of Akasa Air's first aircraft brings the airline closer to obtaining its Air Operator's Permit (AOP), which is required for it to launch commercial operations in the country," Akasa Air said in a statement. Akasa Air, which is also backed by aviation veterans Vinay Dube and Aditya Ghosh, had signed a deal with aerospace giant Boeing to purchase 72 MAX planes last year in November. The low-cost carrier is expecting the delivery of 18 aircraft by March next year and the remaining 54 aeroplanes by 2026. Source: The Indian Express Jun 21, 2022: Aircraft Manufacturing Market 2022 Globalisation & Trade by – Airbus SE, The Boeing Company, Lockheed Martin Corp., BAE Systems, Inc. and Textron, Inc. The Aircraft Manufacturing market report provides data intelligence with market forecasts and market analysis. The report assists the Aircraft Manufacturing Market businesses, market participants, and investors to enable them make informed business decisions and reduce market risks studying about the market. This market report empowers the market players to access high-quality data of the Aircraft Manufacturing industry across the globe. The report provides quantitative data with unique market insights. The report summarizes the key drivers of growth, challenges to growth, emerging market insights, overall market structure, and future insights of the market. A detailed analysis of consumer demands, future growth opportunities, and current trends is also included in this report. The report analyzes the industry and major market trends in detail and divides the global Aircraft Manufacturing market size by volume and value according to application types and geographic locations. The report evaluates the important characteristics of the market based on present industry scenarios, market demands, and business strategies. It separates the industry based on the market share, types, applications, growth factors, key players, and regions. Get Exclusive Sample of Report on Aircraft Manufacturing market is available @ https://www.adroitmarketresearch.com/contacts/request-sample/581 Top Key Players Profiled in this report are: Airbus SE, The Boeing Company, Lockheed Martin Corp., BAE Systems, Inc. and Textron, Inc. The research report also looks at the preceding industry's Aircraft Manufacturing as well as the estimated market worth based on regional research. The Aircraft Manufacturing market study report provides a logical and comprehensive assessment of current competition and future trends. Aside from the financial overview, the commodities division component shares, sales data, the organization's presence, and the corporate profile section all provide essential information about the key stakeholders. The Aircraft Manufacturing market is composed of different companies, products, services, organizations, regulatory authorities, and much more. And, every aspect of the industry has undergone phenomenon changes due to the current situation led by covid-19 pandemic. There industry's products and services are seeing price fluctuations, regulatory changes, trade activities, investment patterns, financial structure, etc. But along with the changes there exist numerous opportunities as well as financial risks. Thus, to understand the Aircraft Manufacturing industry more clearly it is necessary to get in-depth insights on the Aircraft Manufacturing market. This Aircraft Manufacturing market report takes a closer look at the trends that are shaping the ever changing landscape of the industry. The Aircraft Manufacturing market analysis, on the other hand, looks at the network's trends and business relations. The Aircraft Manufacturing study research report also discusses the major global trends affecting business challenges, market growth, market opportunities, and the numerous threats that the world's leading providers face. In addition, the global review considers the number of new technologies and their positive impact on current and future business development. In addition, a Aircraft Manufacturing market study focused on Porter's Five Forces and SWOT analysis was developed using a variety of research methodologies. Report Scope: This research report is imperatively a holistic data compilation of astute primary and secondary research activities and data compilation initiatives that collectively reveal enormous information that have been actively sourced from multiple data pools. Potent data sources such as various corporate websites and reports, international journals, websites and blogs have been thoroughly assessed to derive multi-faceted information. A systematic reference of geographical overview is also pinned in the report with clear identification of top growth proficient regions. A review of market segments as well as sub-segments are also highlighted in this report to offer ample manufacturer cues on the growth potential of each of the segments. Global Aircraft Manufacturing market is segmented based by type, application and region. Based on Type, the market has been segmented into: By Product Type (Gliders, Helicopters, Ultra-Light Aircraft, Passenger Aircraft, Unmanned Aerial Vehicle & Drones And Airships) Based on application, the market has been segmented into: By Application (Military & Defense, Civil, Commercial (Freight) And Others [Agriculture, Experiments & Prototypes]) Regional Analysis: - North America (U.S., Canada, Mexico) - Europe (U.K., France, Germany, Spain, Italy, Central & Eastern Europe, CIS) - Asia Pacific (China, Japan, South Korea, ASEAN, India, Rest of Asia Pacific) - Latin America (Brazil, Rest of L.A.) - Middle East and Africa (Turkey, GCC, Rest of Middle East) Key questions answered in the report: 1. What is the growth potential of the Aircraft Manufacturing market? 2. Which product segment will grab a lion's share? 3. Which regional market will emerge as a frontrunner in the coming years? 4. Which application segment will grow at a robust rate? 5. What are the growth opportunities that may emerge in the Aircraft Manufacturing industry in the years to come? 6. What are the key challenges that the global Aircraft Manufacturing market may face in the future? 7. Which are the leading companies in the global Aircraft Manufacturing market? 8. Which are the key trends positively impacting the market growth? 9. Which are the growth strategies considered by the players to sustain hold in the global Aircraft Manufacturing market? Table of Content: 1 Scope of the Report 1.1 Market Introduction 1.2 Research Objectives 1.3 Years Considered 1.4 Market Research Methodology 1.5 Economic Indicators 1.6 Currency Considered 2 Executive Summary 3 Global Aircraft Manufacturing by Players 4 Aircraft Manufacturing by Regions 4.1 Aircraft Manufacturing Market Size by Regions 4.2 Americas Aircraft Manufacturing Market Size Growth 4.3 APAC Aircraft Manufacturing Market Size Growth 4.4 Europe Aircraft Manufacturing Market Size Growth 4.5 Middle East & Africa Aircraft Manufacturing Market Size Growth 5 Americas 6 APAC 7 Europe 8 Middle East & Africa 9 Market Drivers, Challenges and Trends 9.1 Market Drivers and Impact 9.1.1 Growing Demand from Key Regions 9.1.2 Growing Demand from Key Applications and Potential Industries 9.2 Market Challenges and Impact 9.3 Market Trends 10 Global Aircraft Manufacturing Market Forecast 11 Key Players Analysis 12 Research Findings and Conclusion Source: Indian Defence News Jun 20, 2022: Boeing Reaffirms Commitment to HBCUs with $8 Million Investment Through Thurgood Marshall College Fund "We are thrilled to continue our ground-breaking partnership with Boeing," said Dr. Harry Williams, president & CEO of the Thurgood Marshall College Fund (TMCF). "The Boeing l TMCF HBCU investment represents what we deem as best practice for companies who are committed to DEI. Through this partnership, Boeing has made a deep and long-term commitment to HBCUs and the talented students that attend them. We're excited about the continued success of the collaboration." Source: Company Website Jun 17, 2022: Franklin Institute receives gift launching a mission to reimagine its core exhibits The Franklin Institute has received a $3 million gift from The Boeing Company for the ambitious development of an entirely new future-focused SPACE exhibit. The gift will enable the transformation and expansion of the existing exhibit into an immersive two-story gallery on space exploration, ushering in a new age of space science at the Franklin Institute as it approaches its 200th anniversary in 2024. "Boeing has a long and storied history of space exploration," said Ziad Ojakli, Boeing's executive vice president of Government Operations. "From the International Space Station to the new Space Launch System, which will take humans back to the Moon and beyond, Boeing has been and will continue to be at the forefront of that next big leap for mankind. As part of our proud space legacy, we know that space can be an indispensable tool for inspiring and engaging students around science, technology, engineering and math. Boeing's investment will be transformative for both the Franklin Institute and the hundreds of thousands of students who will visit the reimagined SPACE exhibit each year, ensuring future generations can be inspired by the endless possibilities of space, and see themselves as part of that journey." Home to the second oldest planetarium in the Western Hemisphere, the Franklin Institute has a connection to space that has been central to its identity since 1824. For generations, a visit to the museum at a young age was the first time they learned about the impact, possibilities and promise of space. The launch of SPACE represents the first in a series of six topic areas the Institute will explore through a suite of innovative exhibitions developed and rolled out over the next five years to support a bold vision that reimagines the Franklin Institute experience, enabling it to transform the way it communicates information, tells diverse science stories and delivers awe-inspiring encounters with the latest in science and technology. Opening in the fall of 2023, the 7,000-square-foot space science exhibit will inspire a new generation to feel excitement for the great explorations of the future-a return to the moon, travel to Mars and the technological advancements in space science that benefit life on Earth. "It's impossible to think about space and space exploration without considering the contributions, innovation, and mastery of Boeing, and we are extremely grateful for their contributions to this exhibition and their investment in the future of space education at The Franklin Institute," said Larry Dubinski, President and CEO of The Franklin Institute. "This cutting-edge, dynamic, fully-immersive exhibit is groundbreaking. Involving all sectors of the community using an outside-in approach was an important part of this process to ensure that we created an exhibit that satisfies the desires of our many visitors. We listened and learned, and now we are ready to deliver an exceptional experience." Located between the first floor Fels Planetarium and the fourth floor Holt & Miller Observatory, the two-story exhibit will deliver an immersive, future-focused sensory experience demonstrating the rich diversity of science, technology and the innovative people in the space industry who work every day to bring science fiction to life. It will provide opportunities to experience space phenomena, control forces of nature, and explore what it takes to live, work and play in outer space. The exhibit will feature current technologies and future tools for exploration and showcase the many and varied careers that support the companies embedded in space exploration. During the early concept development phase of SPACE, the Franklin Institute sought extensive community input. In a completely new exhibit planning approach, the Institute held focus groups and student workshops; engaging local teachers, principals and students, business and foundation leaders, as well as representatives from other non-profits and universities to help inform the themes and threads of the exhibit. Among the topics included based on feedback from these focus groups were workforce development and the diversity of careers in STEM. The Institute then formed an exhibit content advisory board led by Chief Astronomer Derrick Pitts, comprised of space enthusiasts and experts at Boeing. The gift marks an important milestone in the Institute's longstanding partnership with Boeing, which dates back to the 1970s, with the permanent installation of Foxtrot Papa, a former British Airways Boeing 707 airplane. In recent years, Boeing has provided investments totaling more than $1 million in support of the Institute's work, including that of its longstanding STEM Scholars youth education program. Source: InPark Magazine Jun 17, 2022: Air Force One: how Boeing's prestige project became its albatross Aerospace group reworked presidential aircraft after former president's tweets, but then took $1.1bn in charges Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour. https://www.ft.com/content/04d6b288-4c12-499b-9fdd-2e07c73eaa78 Air Force One is a flying symbol of American power. But for its maker, the presidential aircraft is becoming an albatross. Boeing has recorded more than $1.1bn in costs due to production delays for the two modified 747-800 jumbo jets, which were ordered to replace the 1980s-era versions currently used by the US president, including a $660mn charge in the first quarter of 2022. Since 2018 Boeing has recorded roughly $4.4bn in charges across an array of defence contracts, according to Financial Times calculations. Company executives now acknowledge the trouble began when Donald Trump took to Twitter as US president-elect in 2016 to claim that Air Force One "costs are out of control", vowing to "cancel order!". That pushed company executives into a new $3.9bn deal to build the aircraft, which even after a subsequent revision to $4.3bn was well below the original $5bn cost estimate. The deal was "a very unique moment, a very unique negotiation, a very unique set of risks that Boeing probably shouldn't have taken", Dave Calhoun, chief executive since 2020, said during an April earnings call. "But we are where we are." Air Force One is not the only military aircraft programme facing cost overruns, however, suggesting Trump is not the sole culprit for Boeing's woes. The company's $4.4bn in defence charges since 2018 span an array of defence contracts including the KC-46A refuelling tanker, the T-7A Red Hawk pilot trainer, the MQ-25 unmanned aircraft and the Starliner space capsule. Like Air Force One, all are fixed-term development contracts, meaning that any cost overruns are Boeing's to shoulder. Calhoun, whose predecessor Dennis Muilenburg negotiated the Air Force One deal, has said fixed-price contracts have been disproportionately vulnerable to supply chain bottlenecks, personnel losses tied to Covid-19 and inflation. He has told investors that he "will have a very different philosophy with respect to fixed-price development". He cannot immediately change course. Boeing's defence arm, which brings in more revenue than its more visible commercial aircraft business, generated 68 per cent of its 2021 sales from fixed-price contracts. The risks of fixed-price contracts are particularly acute for Air Force One. The aircraft are highly customised, with a 4,000 square feet interior that features a presidential suite; cabins for senior staff, Secret Service personnel and press; a medical suite equipped to be an operating theatre; and sophisticated electronics and communications equipment. The planes must also be able to refuel in mid-air. Originally expected to be delivered in 2024, the aircraft are now forecast to be completed at the end of 2026, according to the Air Force. There was "obviously quite a significant delay", Andrew Hunter, the Air Force's top civilian acquisition official, told Congress in May. While taxpayers will not be on the hook for additional costs for the new planes, Hunter said the Air Force would request additional funding "to sustain the existing aircraft" which were delivered in 1990. The Air Current, an industry publication, has reported quiet dissatisfaction with Boeing among Pentagon officials. "We continue to make steady progress on the [Air Force One] programme, while navigating through some challenges," Boeing said. "It's an honour to be entrusted with this responsibility and we take particular pride in this work. Our focus is on delivering two exceptional Air Force One aeroplanes for the country." Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour. https://www.ft.com/content/04d6b288-4c12-499b-9fdd-2e07c73eaa78 The setbacks for Air Force One are part of a company-wide spate of production delays. Deliveries of non-military planes such as the wide-body 777X and 787 Dreamliner have been held back, while the 737 Max has a backlog of orders after two fatal crashes led to its grounding. But Air Force One remains a special case. Requests from the Air Force can change over time. Working on the project requires a high security clearance, meaning the pool of available staff is smaller than for a typical defence contract. Much was outside of Boeing's control when the pandemic hit and workers got sick, said Nicolas Chaillan, a former Air Force chief software officer who helped oversee the Air Force One programme. Boeing also terminated subcontractor GDC Technics, which was hired to install the jets' interiors, in April 2021 for "failure to meet contractual obligations". This accounted for about one year of delays. GDC Technics filed for bankruptcy protection soon after, and the companies have sued one another. The Air Force has not blamed Boeing. In a statement, it said the delays were due to "impacts from the Covid-19 pandemic, interiors supplier transition, manpower limitations, wiring design timelines, and test execution rates". Prestige projects like Air Force One are generally not expected to generate a profit - their value is an enhanced reputation for the producing company. Defence contractors regularly submit bids below actual costs needed to complete a contract to secure the tender, Chaillan said. Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour. https://www.ft.com/content/04d6b288-4c12-499b-9fdd-2e07c73eaa78 Delays were "very common" for defence contracts, said Cynthia Cook, director of the Defense-Industrial Initiatives Group at the Center for International and Strategic Studies. But Boeing has had more delays than its defence contractor rivals, said Cai von Rumohr, an analyst at Cowen. In the past 15 years, Boeing has received $324.5bn in Pentagon contracts, second only to Lockheed Martin, which won $547.7bn, according to the CSIS. But even though Lockheed contracts were worth far more, Boeing has taken more charges in recent years: since 2018, Lockheed has reported about $400mn in charges, 11 times less than Boeing. "I think they did feel a sense of desperation" after losing "lots" of money on the KC-46A tanker and getting beat on "other, bigger contracts" such as the Pentagon's two most important fighter programmes, the F-22 and F-35, which both went to Lockheed, said von Rumohr. The Air Force One bid became "a must win". Source: Financial Times Jun 17, 2022: Boeing Reaffirms Commitment to HBCUs with $8 Million Investment Through Thurgood Marshall College Fund Today, Boeing (NYSE: BA) and the Thurgood Marshall College Fund (TMCF) announced a new $8 million, multi-year partnership to support the development of future technical talent. The Boeing l TMCF partnership renewal will support campus recruitment initiatives, career immersion activities, TMCF Leadership Institute programming and student scholarships at Historically Black Colleges and Universities (HBCUs) through 2026. "Our company's success and our ability to innovate for our customers is driven by how we work together and live our values," said Ted Colbert, president and CEO of Boeing Defense, Space & Security. "That includes prioritizing equity, diversity and inclusion, which is vital to achieving better business outcomes. Strategic partnerships, like those with HBCUs and the Thurgood Marshall College Fund, help create a space where students can flourish - and they establish a talent pipeline that is vital to future innovation across the aerospace industry and here at Boeing." Building on a previous $6 million strategic investment made in 2018, the partnership will expand to include a new fast-track hiring program that will supply technical talent for open positions at Boeing locations in close geographic proximity to HBCUs. "We are thrilled to continue our ground-breaking partnership with Boeing," said Dr. Harry Williams, president & CEO of the Thurgood Marshall College Fund (TMCF). "The Boeing l TMCF HBCU investment represents what we deem as best practice for companies who are committed to DEI. Through this partnership, Boeing has made a deep and long-term commitment to HBCUs and the talented students that attend them. We're excited about the continued success of the collaboration." Since establishing the award-winning Boeing l TMCF partnership, Boeing has quadrupled intern hiring through priority partner HBCUs and extended the company's reach to more than 6,800 HBCU students. The partnership has been key to addressing Boeing's racial equity commitments and improving the representation of Black talent at the company. The partnership supports Boeing's racial equity commitments and goal to improve the representation of Black talent at the company. "The Boeing l TMCF Scholar Program has been nothing short of amazing. It gave me the reassurance and confidence to continue to reach for the stars," said Jaida West, a member of the Boeing l TMCF Inaugural Cohort. "The Boeing and TMCF Teams have poured into me over the past two years, aiding my professional and personal development." TMCF university partners receiving support from Boeing include the following: Alabama A&M University Clark Atlanta University Florida A&M University Howard University Morehouse College Morgan State University North Carolina A&T State University Prairie View A&M University South Carolina State University Southern University and A&M College Spelman College Tennessee State University Tuskegee University To date, TMCF has awarded more than $500 million in assistance to HBCUs. In addition to scholarships, TMCF provides programmatic, capacity building, public policy and advocacy support for the 47 TMCF member schools and the nearly 300,000 students who attend them. About The Boeing Company As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing's diverse team is committed to innovating for the future, leading with sustainability, and cultivating a culture based on the company's core values of safety, quality and integrity. Join our team and find your purpose at boeing.com/careers. About Thurgood Marshall College Fund (TMCF) Established in 1987, the Thurgood Marshall College Fund (TMCF) is the nation's largest organization exclusively representing the Black College Community. TMCF member-schools include the publicly-supported Historically Black Colleges and Universities (HBCUs) and Predominantly Black Institutions (PBIs). Publicly-supported HBCUs enroll over 80% of all students attending HBCUs. Through scholarships, capacity building and research initiatives, innovative programs, and strategic partnerships, TMCF is a vital resource in the K-12 and higher education space. The organization is also a source for top employers seeking top talent for competitive internships and good jobs. Contact Jason Capeheart Boeing Communications Phone: +1 703-209-5560 Jason.S.Capeheart@Boeing.com Andrea Horton TMCF Communications Phone: +1 202-888-1648 Andrea.Horton@tmcf.org Source: Stockhouse Jun 17, 2022: Cyber Weapons Market is Set to have an Advanced Development by 2028 - FireEye Inc., BAE Systems Plc, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Company, The Boeing Company, etc The Cyber Weapons market study extensively offers end-users, products, leading businesses, and regions in the market. Among other things, the Cyber Weapons study includes data on the industry's present status, current and future trends, market position, competitive climate, competitive dynamics, suppliers, providers, risks and opportunities, and distribution networks. The Cyber Weapons market study includes a comprehensive global market momentum analysis. The global Cyber Weapons sector also provides a qualitative evaluation of cutting-edge competitor studies and new company innovations, as well as Cyber Weapons market dynamics, threats, and opportunities, to provide genuine insights and current circumstances for appropriate judgments. The Cyber Weapons report offers recent market trends with past market insights Request for a sample report here https://www.orbisresearch.com/contacts/request-sample/5603507 Cyber Weapons Market Leading Vendors includes: BAE Systems Plc FireEye, Inc. Lockheed Martin Corporation Raytheon Company Northrop Grumman Corporation Airbus Group SE The Boeing Company General Dynamics Corporation Cisco Systems, Inc. Thales SA The global Cyber Weapons market research offers essential insights on key analysts, quantitative and qualitative assessments, first-hand expertise, and input from Cyber Weapons industry leaders and significant suppliers in the demand and supply chain processes. Micro and macroeconomic statistics, parent market movements, governmental points, and business attractiveness are all included in the Cyber Weapons research. A variety of Cyber Weapons market variables have a substantial influence on various consumer groups and areas, which is also investigated. Furthermore, Cyber Weapons study creates new logistical networks and expands global marketplaces. The global research study for the Cyber Weapons industry includes information on consumer potential growth, Cyber Weapons market share by volume and size, and important business trends over the anticipated timeframe. This report also points out some new trends in the world market for Cyber Weapons. The research looks at the many causes leading to the growth of the global Cyber Weapons business. The examination of Cyber Weapons market research also contains significant views on a range of technologies and technology marketplaces. Main Product Type coated in Cyber Weapons sector - Defensive Offensive Application coated in Cyber Weapons sector - National Defense System Communication Network Industrial Control System Financial and Banking Smart Power Grid Air Traffic Control Automated Transportation System Hospital The Cyber Weapons market study includes an overview of the target industry's thorough segmentation and regional information. The industry Cyber Weapons forecast also considers a wide range of crucial technological advancements and growth rates. In order to make suggestions and help industry executives make better judgments, the Cyber Weapons research evaluates includes product portfolios, company profiles, and development plans. Ask our Expert if You Have a Query at: https://www.orbisresearch.com/contacts/enquiry-before-buying/5603507 Key Points Covered in the Report: - The Cyber Weapons market research examines the share, scope, segmentation, technology, and volume of the industry very closely. - The research Cyber Weapons looks at market income, opportunities and market players, dangers, advanced technologies, the position of industry, current dynamics, and expansion rates and distribution networks. - The global Cyber Weapons analysis includes volume and significant market share projections. - The Cyber Weapons research study was developed with the use of product surveys, paid sources, expert interviews, customer feedback, and other studies, such as sampling and expert insights and opinions. - The Cyber Weapons market analysis divides geography, applications, suppliers, and goods into categories and predicts them. Source: Indian Defence News Jun 17, 2022: Boeing readies 777-200ER to begin 10th year of ecoDemonstrator flights Boeing is gearing up to begin another round of ecoDemonstrator technology-evaluation flights, this time using a newly acquired 777-200ER that comes to the company fresh out of airline service. Earlier this week, the Rolls-Royce Trent 800-powered aircraft (N861BC) sat in a hangar at Boeing Field in Seattle, its cabin stripped bare in preparation for the installation of test equipment. The company revealed the jet, newly painted in an ecoDemonstrator livery, on 16 June. "We are giving life to this 20-year-old airplane as a flying testbed," Boeing ecoDemonstrator programme manager Rae Lutters says. Boeing delivered the aircraft new to Singapore Airlines in 2002. Later, Air New Zealand and then Suriname Airways operated the jet, according to Cirium data. Boeing plans to use the 777-200ER to test some 30 new technologies, many related to improved efficiency. "The airplane is being outfitted now with the test equipment that it needs," says Boeing Commercial Airplanes vice-president and general manager of product development Mike Sinnett. "In another month or so we'll start operating the airplane, and we will operate it for six months." The latest ecoDemonstrator's test missions will include evaluation of components, including an engine bracket and an auxiliary power unit (APU) exhaust duct support panel, produced using additive manufacturing, also known as 3D printing. The APU support panel is "one of the largest additive-manufactured parts" tested by Boeing, Lutters adds. Additionally, in partnership with NASA, Boeing will use the 777-200ER to test vortex generators that can be retracted into the wing during cruise flight in order to reduce fuel consumption. Vortex generators are small vanes on aircraft wings designed to improve aircraft performance at slower speeds. Additionally, the latest ecoDemonstrator programme will involve evaluation by Boeing and Universal Avionics of a new camera for use as part of an enhanced vision system (EVS), and of a new "head-worn head-up display" for pilots. EVS is a technology that uses cameras and other sensors to generate a composite image of the outside world to give flightcrew improved situational awareness in low-visibility conditions. Boeing is also using the ecoDemonstrator to test a system that will use aircraft-sink waste water to flush toilets, allowing aircraft to carry as much as 181kg (400lb) less water per flight, Boeing says. It is conducting those studies with Diehl Aviation. Additionally, the latest ecoDemonstrator flights will see Boeing partner with aerospace company Meggitt to evaluate a new aircraft fire-fighting system that does not use the ozone-depleting substance Halon. Instead, the system uses a Meggitt product called "Verdagent", which it describes as a "clean agent". Boeing will also work with Collins Aerospace to study a more-environmentally friendly galley refrigerant system. Sinnett says the ecoDemonstrator programme helps the airframer achieve small efficiency improvements that, taken together, add up to notable reductions in fuel burn. He notes that new-aircraft programmes typically achieve an efficiency improvement in the order of 15-20%, with half the benefit coming from engines and half from the rest of the aircraft. The latest round of tests marks the 10th year of Boeing's ecoDemonstrator programme, which the airframer kicked off in 2012 with a 737-800 test aircraft. Since then, Boeing has placed several other aircraft - a 737 Max 9, 757, 787-8 and 10, 777 Freighter, 777-200 and even an Embraer 170 - into ecoDemonstrator duty, and evaluated about 200 technologies through the programme, it says. Boeing says the work has had real-world impact, leading to introduction of the 737 Max's improved-efficiency winglets, iPads capable of providing pilots with current weather information, advanced cockpit touchscreen displays, and aircraft descent paths optimised to reduce noise pollution. Source: FlightGlobal Jun 17, 2022: Boeing eyes NATO's next-generation helicopter project Boeing officials said that the company is tracking the North Atlantic Treaty Organization's (NATO) Next Generation Rotorcraft Capability (NGRC) initiative. On the sidelines of the NATO Ministers of Defence meeting on 16 June, France, Germany, Greece, Italy, the Netherlands, and the United Kingdom announced a EUR26.7 million (USD27.9 million) agreement to work on developing the NGRC. The group will look at hybrid electric propulsion and open system architecture as potential technologies to integrate into the programme. Mike Spencer, Boeing's senior director of vertical sales and business development, told reporters on 16 June that the company's involvement will likely include "a partnering strategy with one or more European manufacturers". NATO is "not quite as aggressive as the [US] army's Future Vertical Lift (FVL) requirements, but they do extend range and they are looking for additional speed", Spencer said. "So, there are some design options that we will be exploring with our partners in Europe." Spencer said it was too early to tell if Boeing would offer a legacy aircraft or the next-generation Defiant X aircraft it is offering for the FVL contract. Source: Janes Jun 17, 2022: Cargo Compartments Market Outlook 2022 And Forecast to 2029 Key Players - The Boeing Company, Airbus, PJSC United Aircraft Corporation (UAC), Antonov State Company ByAlyssa Healy Jun 17, 2022 Asia Pacific Cargo Compartments Market Trend, China Cargo Compartments Market Opportunity, Europe Cargo Compartments Market Growth, France Cargo Compartments Market Forecast, Germany Cargo Compartments Market Price, Global Cargo Compartments Market, Japan Cargo Compartments Market Size, Korea Cargo Compartments Market Share, US Cargo Compartments Market Demand Los Angeles, USA,-According to the report of the verified market report, the global Cargo Compartments market is expected to grow at a tremendous pace in the next few years. Titled "Global Cargo Compartments Market Size and Forecast 2022-2029", this report provides deep insight into the future of the Global Cargo Compartments market. Increased demand for smart technology and increased construction of skyscrapers and tall commercial buildings are expected to contribute significantly to the growth of the global Cargo Compartments market. A full study of the global Cargo Compartments market is carried out by analysts of this report, taking into account key factors such as drivers, challenges, recent trends, opportunities, developments and competitive landscape. This report provides a clear understanding of the current and future scenarios of the global Cargo Compartments industry. Research techniques such as pestle and Porter's five force analysis were deployed by researchers. It also provided accurate data on Cargo Compartments production, capacity, price, cost, margin and revenue, allowing players to gain a clear understanding of the overall existing and future market conditions. Get | Download Sample Copy with TOC, Graphs & List of Figures@ https://www.verifiedmarketreports.com/download-sample/?rid=536434 Main Drivers and Barriers High impact rendering factors and drivers have been studied in this report to assist readers in understanding general development. In addition, the report includes restraints and challenges that can serve as stumbling blocks in the path of players. This will help users to make meticulous and business-related informed decisions. Experts also focused on the upcoming business prospects. Segmental Outlook Key segments, including types and applications, were detailed in this report. Consultants of verified market reports studied all segments and used historical data to provide market size. They also talked about the growth opportunities the segment could pose in the future. The study provides production and revenue data by type and application during the past period(2016-2021)and forecast period(2022-2029). Industry Overview: The first section of the research study covers an overview of the global Cargo Compartments market,market status and prospects,and product range. In addition,it provides highlights of the major segments of the global Cargo Compartments market,i.e. region, type and application segments. Competitive Analysis:This report illuminates important mergers and acquisitions,business expansion,product or service differences,market concentration,competitive status of the global Cargo Compartments market, and market size by player. Company Profiles and Key Data:This section covers companies profiling the major players in the global Cargo Compartments market based on the aforementioned revenue,products,business and other factors. Market size by type and application:In addition to providing in-depth analysis of the global Cargo Compartments market size by type and application,this section provides research on top end users or consumers and potential applications. North American Market: This report describes changes in the size of the North American market by application and player. European Market: This section of the report shows how the size of the European market will change over the next few years. China Market: It provides an analysis of the Chinese market and its size for all years of the forecast period. Rest of the Asia-Pacific market: The rest of the Asia-Pacific market is analyzed in pretty detail here on the basis of applications and players. Central and South American market: The report illustrates changes in the size of Central and South American market by players and applications. Mea Market: This section shows how the size of the Mea market changes over the course of the forecast period. Market Dynamics: This report covers the drivers,restraints,challenges,trends and opportunities of the global Cargo Compartments market. This section also includes Porter's analysis of five forces. Findings and Conclusions:It provides strong recommendations for new as well as established players for securing a position of strength in the global Cargo Compartments market. Methodology and Data Sources:This section includes author lists,disclaimers,research approaches, and data sources. The main questions answered What will be the size and average annual size of the global Cargo Compartments market over the next five years? Which sectors will take the lead in the global Cargo Compartments market? What is the average manufacturing cost? What are the main business tactics adopted by the top players of the global Cargo Compartments market? Which region will gain the Lion's share in the global Cargo Compartments market? Which companies will show dominance in the global Cargo Compartments market? Research Methodology Quality research uses reliable primary and secondary research sources to compile reports. It also relies on the latest research techniques to prepare highly detailed and accurate research studies like this. Use data triangulation,top-down and bottom-up approaches, and advanced research processes to deliver comprehensive, industry-leading market research reports. Source: Indian Defence News Jun 17, 2022: Boeing Reaffirms Commitment to HBCUs with $8 Million Investment Through Thurgood Marshall College Fund ARLINGTON, Va., June 17, 2022 /PRNewswire/ -- Today, Boeing (NYSE: BA) and the Thurgood Marshall College Fund (TMCF) announced a new $8 million, multi-year partnership to support the development of future technical talent. The Boeing l TMCF partnership renewal will support campus recruitment initiatives, career immersion activities, TMCF Leadership Institute programming and student scholarships at Historically Black Colleges and Universities (HBCUs) through 2026. "Our company's success and our ability to innovate for our customers is driven by how we work together and live our values," said Ted Colbert, president and CEO of Boeing Defense, Space & Security. "That includes prioritizing equity, diversity and inclusion, which is vital to achieving better business outcomes. Strategic partnerships, like those with HBCUs and the Thurgood Marshall College Fund, help create a space where students can flourish - and they establish a talent pipeline that is vital to future innovation across the aerospace industry and here at Boeing." Building on a previous $6 million strategic investment made in 2018, the partnership will expand to include a new fast-track hiring program that will supply technical talent for open positions at Boeing locations in close geographic proximity to HBCUs. "We are thrilled to continue our ground-breaking partnership with Boeing," said Dr. Harry Williams, president & CEO of the Thurgood Marshall College Fund (TMCF). "The Boeing l TMCF HBCU investment represents what we deem as best practice for companies who are committed to DEI. Through this partnership, Boeing has made a deep and long-term commitment to HBCUs and the talented students that attend them. We're excited about the continued success of the collaboration." Since establishing the award-winning Boeing l TMCF partnership, Boeing has quadrupled intern hiring through priority partner HBCUs and extended the company's reach to more than 6,800 HBCU students. The partnership has been key to addressing Boeing's racial equity commitments and improving the representation of Black talent at the company. The partnership supports Boeing's racial equity commitments and goal to improve the representation of Black talent at the company. "The Boeing l TMCF Scholar Program has been nothing short of amazing. It gave me the reassurance and confidence to continue to reach for the stars," said Jaida West, a member of the Boeing l TMCF Inaugural Cohort. "The Boeing and TMCF Teams have poured into me over the past two years, aiding my professional and personal development." TMCF university partners receiving support from Boeing include the following: Alabama A&M University Clark Atlanta University Florida A&M University Howard University Morehouse College Morgan State University North Carolina A&T State University Prairie View A&M University South Carolina State University Southern University and A&M College Spelman College Tennessee State University Tuskegee University To date, TMCF has awarded more than $500 million in assistance to HBCUs. In addition to scholarships, TMCF provides programmatic, capacity building, public policy and advocacy support for the 47 TMCF member schools and the nearly 300,000 students who attend them. About The Boeing Company As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing's diverse team is committed to innovating for the future, leading with sustainability, and cultivating a culture based on the company's core values of safety, quality and integrity. Join our team and find your purpose at boeing.com/careers. About Thurgood Marshall College Fund (TMCF) Established in 1987, the Thurgood Marshall College Fund (TMCF) is the nation's largest organization exclusively representing the Black College Community. TMCF member-schools include the publicly-supported Historically Black Colleges and Universities (HBCUs) and Predominantly Black Institutions (PBIs). Publicly-supported HBCUs enroll over 80% of all students attending HBCUs. Through scholarships, capacity building and research initiatives, innovative programs, and strategic partnerships, TMCF is a vital resource in the K-12 and higher education space. The organization is also a source for top employers seeking top talent for competitive internships and good jobs. Source: PR Newswire Jun 17, 2022: Pilot Training Market 2022 Industry Applications by Future Technology - CAE Inc, L3 Technologies Inc, FlightSafety International, The Boeing Company, TRU Simulation + Training Inc, Lufthansa Aviation Training, etc The Pilot Training research report includes data on major manufacturers, exporters, and service providers throughout the world. The current situation, extent, and complexity of the Pilot Training industry are examined in great detail in the business research review. The Pilot Training industry also creates and analyses global Pilot Training market forecasts. The scope, prospects, development potential, and history of a firm are the subject of Pilot Training business research. The most significant players coated in Global Pilot Training Market report- CAE Inc L3 Technologies Inc FlightSafety International The Boeing Company TRU Simulation + Training Inc Lufthansa Aviation Training Flying Time Limited Rockwell Collins AXIS Flight Training Systems Frasca International Havelsan Indra Sistemas Sim-Industries Epic Flight Academy Request for a sample report here https://www.orbisresearch.com/contacts/request-sample/6375762 This study also looks at the global Pilot Training market's industry classifications, competitive prognosis, ascending contenders, business atmosphere, and current trends. The Pilot Training sector research also includes a comprehensive analysis of the market's changing trends, including driving forces, technologies, constraints, and business limits. In the report's global Pilot Training market expansion, some factors are considered. The Pilot Training research study also includes a thorough examination of market segmentation. The importance of a variety of elements will be assessed through the study's subsections. Both of these aspects have a role in establishing the consumer's position in relation to current and prior price arrangements in the global economy. The Pilot Training market sizes of various categories and sub-segments were projected using a bottom-up strategy based on past and expected patterns. The Pilot Training market is primarily split into: Product Type Segmentation Rotary Wing Fixed Wing The Pilot Training market applications cover: Civil Military Major industry players are profiled in the Pilot Training market study, together with full information on their strategies in the global Pilot Training sector. The purpose of the global Pilot Training market study is to highlight market growth, competitive issues, and attractive opportunities in the global Pilot Training market using quantitative and qualitative research methods. By looking at Pilot Training in the market, you may learn about consumer patterns, market segmentation, and retail supply chain methods. Similarly, the Pilot Training industry study delves into the major service providers and provides a comprehensive view of their competitiveness as a whole. The Pilot Training analysis also includes detailed market size, market segmentation, Pilot Training market position, and market estimates for global product, application, and type segments. Ask our Expert if You Have a Query at: https://www.orbisresearch.com/contacts/enquiry-before-buying/6375762 Key Reasons to Buy this Report: - The Pilot Training market research report includes a quantitative evaluation of share, segmentation, market growth, and current and forecast market trends. - Pilot Training study examines growth opportunities, R&D, technical developments, dangers, guiding factors, main trends, and market in-depth dynamics. - The Pilot Training research study also focuses on market segmentation, which includes structure, function, and geographical location. - To help customers better grasp their competitors' tactics, the global Pilot Training study report focuses on mining major investments, vital industry suppliers, process specifics, and growth opportunities. Key Points Covered in the Pilot Training Report: The study also examines current and upcoming business trends that are advantageous to the expansion of the Pilot Training market. Pilot Training study includes a thorough objective overview of the current market as well as projections that aid in finding market opportunities. This report examines the existing and emerging Pilot Training industry trends and dynamics in the global Pilot Training market. To better understand company dynamics across regions, Pilot Training study takes into account the economic landscape and supply chain. A full review of the elements that drive and constrain the growth of the Pilot Training industry is provided. Source: Indian Defence News Jun 17, 2022: Boeing hires 'hundreds' of engineers in push to certify 777X, 737 Maxes Being wouldn't say when it expects to certify the 737 Max 10, the largest variant of its bestselling 737 Max jet. The company could face costly delays without help from Congress. Source: The Business Journals Jun 17, 2022: NASA Selects Indian-American Astronaut Sunita Williams For Boeing's Debut Crewed Mission NASA, on June 16, assigned Sunita Williams with one other astronaut for Boeing Space's first Crew Flight Test (CFT) mission to the space station. NASA, on June 16, announced the name of two astronauts who will fly to the International Space Station (ISS) in Boeing Space's first Crew Flight Test (CFT) mission. The selected astronauts are Indian-American NASA veteran Sunita Williams, who will serve as the pilot and Barry Wilmore, the mission commander with NASA astronaut Mike Fincke training as a backup pilot. The duo would launch aboard a United Launch Alliance Atlas V rocket from Florida's Cape Canaveral Space Force station on a yet-to-be-finalised date. Notably, Williams has been training with NASA and Boeing for the CFT which will soon take her off for her third long-duration mission. Williams, along with Wilmore will stay and work aboard the ISS for two weeks. READ Boeing's Starliner successfully docks at ISS completing crucial OFT-2 mission step Boeing moves ahead with OFT-2 success The announcement comes after the success of Boeing's recent Orbital Flight Test-2 (OFT-2) uncrewed mission. In what was the company's second uncrewed flight, a Starliner capsule was launched on May 19 with 362 kilograms of cargo to test the end-to-end capabilities of Starliner from launch to docking, atmospheric re-entry, and a desert landing. While Starliner's thrusters suffered a malfunction after liftoff, it managed to dock at the ISS and completed all parameters for a successful mission. READ | Boeing's Starliner returns to Earth from ISS post conclusion of Orbital Flight Test "Starliner and the Atlas V performed well during all phases of OFT-2, and now we are taking a methodical look at each system to determine what needs to be upgraded or improved ahead of CFT, just as we do with every other crewed flight", Steve Stich, manager, NASA's Commercial Crew Program said in a statement. "Additionally, Butch, Suni, and Mike have been instrumental in the development of Starliner on the path to having a second space station crew transportation system". READ Boeing Space shares glorious in-orbit view from its Starliner capsule during OFT-2 mission NASA said that if the CFT mission turns out to be successful, it will begin the process of certifying Starliner for regular commercial launches to the space station. Boeing is one of the two companies, apart from SpaceX, who were awarded contracts to send astronauts and cargo to space for NASA. SpaceX was certified for both crew and cargo launches in 2020 with the success of Demo-2 wherein it launched two astronauts in its Dragon capsule. READ International Space Station & Boeing's Starliner captured in incredible pics from Earth Source: Republic World Jun 16, 2022: New Boeing ecoDemonstrator Program Testing 30 Sustainable Technologies on a 777-200ER SEATTLE, June 16, 2022 /PRNewswire/ -- Boeing [NYSE: BA] unveiled its 2022 ecoDemonstrator today with a livery that honors a decade of testing to reduce fuel use, emissions and noise. The latest ecoDemonstrator, a Boeing-owned 777-200ER, will test about 30 new technologies aimed at improving sustainability and safety for the aerospace industry, including a water conservation system and technologies to improve operational efficiency. "Boeing is committed to support our customers and enable the commercial aviation industry to meet our shared commitment to net zero carbon emissions by 2050," said Stan Deal, Boeing Commercial Airplanes president and CEO. "The ecoDemonstrator program's rigorous testing of new technologies further enhances the environmental performance of our products and services and is invaluable to continuously improving safety." Source: Company Website Jun 16, 2022: Final Boeing-Saab T-7A Red Hawk Development Jet Comes Together ST. LOUIS, June 16, 2022 - The final aft, or rear section, of the T-7A Red Hawk trainer aircraft for the United States Air Force arrived at Boeing [NYSE: BA] from teammate Saab in Linkoping, Sweden, signaling the final EMD part delivery. With both the forward and aft fuselages complete, the two sections were joined together in less than 30 minutes ‒ a fraction of the time it takes for traditional aircraft builds and a testament to the benefits of the T-7A's digital foundation. In the future, Saab will produce the rear sections at their manufacturing facility in West Lafayette, Indiana. The new facility will allow for shorter shipping times and increased collaboration between Boeing and Saab. "We're excited to begin building the first trainer jets future Air Force pilots will fly," said Paul Niewald, vice president, Boeing T-7 programs. "Boeing and Saab quality and production teams will be closer, accelerating responsiveness to meet engineering and hardware needs." "Developed with an engineering approach based on digital models, the T-7A represents a revolutionary approach to developing aircraft," said Jonas Hjelm, head of Saab's Business Aeronautics. Source: Company Website Jun 15, 2022: Airbus widens delivery lead on Boeing through May The Boeing Co. continues to lose ground to European rival Airbus in 2022. Both manufacturers have revealed order and delivery totals through May, with Airbus widening the gap on both metrics. Airbus reported 47 deliveries last month to give it 237 through the first five months of the year. Boeing (NYSE: BA) reported 35 deliveries in May, highlighted by its handing over of 29 737 MAX jets last month. The U.S. manufacturer ended the first five months of the year with 165 deliveries - with Airbus adding a 12-aircraft gap to the 60-aircraft delivery lead it enjoyed at the end of April. Boeing deliveries in May were flat compared to the previous month, while Airbus declined by one aircraft from April as both manufacturers wrestle with supply chain issues. Boeing also continues to contend with the delivery halt on its 787 Dreamliner as it works to finalize a regulatory road past quality control problems that have impacted the program since late 2020. Deliveries are crucial to the bottom line of both manufacturers, as they are the point at which the bulk of an order is paid. And in May - with the return of the typical sales announcement-heavy Farnborough International Airshow coming in July - order activity remained mostly muted. Airbus reported 13 net orders in the month, compared to 14 net order for Boeing. That resulted in the European manufacturer recording 178 net orders through May, while Boeing recorded 107 through the same period. Boeing's total includes accounting protocols regarding potentially risky deals that Airbus does not reveal. Wichita-based Spirit AeroSystems Inc. has work on all of the commercial jets in the combined production portfolio of Boeing and Airbus. That includes building around 70% of the structure in Wichita on the 737 MAX, Spirit's (NYSE: SPR) largest individual program, and wing components in the U.K. for the A320. Spirit locally also builds the complete forward fuselage for the Boeing 787. As for the demand that will drive future production work in Wichita, particularly on narrow-body jets like the MAX, Boeing CEO David Calhoun said this week that it only seems to be increasing. "Demand for airplanes is as robust as I've ever seen it," Calhoun said at the opening of the company's new headquarters near Washington D.C., according to a report from Reuters. "I think it will get more robust." Source:bizjournals Jun 15, 2022: Boeing to Highlight Partnerships, Sustainability, and its Growing Presence in Germany at ILA Berlin Airshow 2022 BERLIN, June 14, 2022 -- At ILA Berlin Airshow, Boeing [NYSE: BA] will highlight its industry-leading portfolio of commercial, defense and support services and showcase advanced systems and capabilities with a focus on sustainable aerospace. Boeing's presence at the show will include its commercial airliners, along with advanced defense capabilities such as heavy-lift helicopter, maritime patrol aircraft, advanced fighters and trainers, and autonomous systems. "We welcome the opportunity to engage with the global aerospace community at the show after a two year pause," said Michael Haidinger, president of Boeing Germany, Central & Eastern Europe and the Nordics. "We will highlight our strengths in innovation and sustainability, our established and growing presence in Germany, new strategic partnerships with German industry, and our growing family of products that will soon be in operation by the German armed forces and airline customers." Boeing's exhibit will highlight the 777X, 737 MAX and 777-8F, in addition to the EA-18G Growler, T-7A Advanced Pilot Training System, the Boeing Airpower Teaming System and Germany's future maritime patrol aircraft, the P-8A Poseidon. The CH-47 Chinook, which was recently selected by the German Government for its STH Heavy-Lift Helicopter program, will additionally be highlighted at the show. During the show, a Royal Air Force CH-47 Chinook will perform daily flight displays. The U.S. Department of Defense is expected to display several Boeing platforms, including the AH-64 Apache attack helicopter, CH-47 Chinook heavy-lift helicopter, P-8A Poseidon maritime patrol aircraft, C-17 Globemaster III military transport aircraft, and F-15 fighter jet. Source: Company Website Jun 15, 2022: Boeing Stock Soars On Southern Airlines 737 Max Test Flight, Aircraft Demand Bets Boeing (BA) - Get The Boeing Company Report shares powered higher Wednesday amid news that a key China carrier conducted test fights of the planemaker's troubled 737 MAX, suggesting it could return to service in the world's biggest aircraft market. China Southern Airlines Co Ltd. flew a Boeing 737 MAX from its Guangzhou headquarters to the central China city of Nanyang yesterday, Reuters reported citing data from flight tracking group Varflight, before returning to the carrier's headquarters later that evening. The flight could signal the return to service for the work-horse yet, which was delayed by the impact of an unrelated incident in March, when a Boeing-made 737-800 passenger jet operated by China's Eastern Airlines crashed and killed 132 passengers and crew members during a routine flight between Kunming to Guangzhou. China's Civil Aviation Authority issued an "airworthiness directive" for the MAX on December 2 that provided instructions to airline operators as to what changes are required before the planes can be included in domestic fleet operations. Last year, Boeing said China, the world's second-largest economy but the largest aircraft market, would likely need 8,700 new airplanes over the next two decades, a figure that translates to overall sales of around $1.47 trillion. A further $1.8 trillion will likely be needed to service both its existing and future fleet additions over the next 20 years, Boeing said. Stock Market Today - 6/15: Stocks Higher With 'Bold' Fed Rate Hike In Focus As ECB Convenes Emergency Meeting Elon Musk, founder of Tesla and SpaceX, brought attention on the Clubhouse to new heights after hosting a conversation on the audio social app. Photo: Boeing shares were marked 7.42% higher in late-morning trading Wednesday to change hands at $131.23 each, a move that would nudge the stock into a one-month gain of 5.72%, compared to a 4.6% decline for the Dow Jones Industrial Average. Boeing said yesterday that it delivered 29 737 MAX jets last month, with overall deliveries of 35 aircraft, as it prepares for crucial summer air shows in Paris and Berlin. The planemaker's overall order backlog was pegged at 4,192 aircraft, Boeing said, up marginally from the same period last year. CEO Dave Calhoun told reporters earlier this week during an event marking the planemaker's relocation to the suburbs of Washington, D.C. that "demand for airplanes is as robust as I've ever seen it'", adding "I think it will get more robust." Boeing posed an adjusted core loss for the three months ending in March of $2.75 per share, down from a loss of $1.53 per share over the same period last year but well outside the Street consensus forecast of a 25 cents per share loss. Boeing took one-time charges of around $1.2 billion linked to the impact of its businesses in Russia as well as the Air Force One Presidential jet. Group revenues, Boeing said, fell 8% from last year to $14 billion, a tally that also missed analysts' forecasts of a $16.02 billion tally. Free cash flow was estimated at -3.6 billion for the quarter, Boeing said, but the group reiterated its forecast to turn the figure positive in 2023. Source:thestreet Jun 15, 2022: Plyrotech Announces Recurring Sales with the Boeing Company Through Its Certified Reseller Electro Enterprises Inc Plymouth, Massachusetts--(Newsfile Corp. - June 15, 2022) - Plymouth Rock Technologies Inc. (CSE: PRT) (OTCQB: PLRTF) (FSE: 4XA) (WKN# A2N8RH) ("Plymouth Rock", "PRT", "Plyrotech", or the "Company") a leader in developing unmanned technologies and detection apparatus is pleased to announce it has shipped a total of 16 production units at a value of USD$2450 each under subcontract to Electro Enterprises Inc. an authorized Boeing supplier. This is a follow-on order of numerous shipments. The units are "Liquid Cooled High Power Loads" and are used on the US Army PATRIOT Advanced Capability - 3 (PAC -3) Program. The Phased Array Tracking Radar to Intercept of Target (PATRIOT) Missile protects ground forces and critical assets at all echelons from advanced aircraft, cruise missiles and tactical ballistic missiles (TBM). The PATRIOT Advanced Capability - 3 (PAC-3) is the Army's premier guided air and missile defense (AMD) system providing highly reactive hit-to-kill capability in both range and altitude while operating in all environments. Boeing, one of the world's largest aerospace companies has been a client of Aerowave Inc since 2000. Plymouth Rock acquired the assets of Aerowave in 2019 and has implemented several new processes since 2019 to recapture major clients. This order, a repeat aerospace component order, further showcases the ability of PRT to produce highly intricate aerospace parts for Defense. The significance of ongoing regular purchases from Boeing and it's purchase partner network is high given the size and credibility of Boeing together with the potential commercial benefits of future collaborations with the group. "As a company we are moving forward into several areas of aviation advances in our skies and into space", stated Dana Wheeler, President & CEO of PRT. "Our accomplishments are now starting to integrate with our strategy across the product set we offer. This Boeing sale in conjunction with our autonomous aircraft division are in use and within procurement cycles with major organizations and governments and that includes branches of the US DoD. 2022 has started out very well and are significantly moving the company towards revenues that are ultimately focussed on driving shareholder value and to aid in future growth", concluded Wheeler. Source:finance.yahoo Jun 15, 2022: The Boeing Company is Up for the 2nd Day in a Row The Hourly View for The Boeing Company Currently, BA's price is up $0.75 (0.58%) from the hour prior. It's been a feast for bulls operating on an hourly timeframe, as The Boeing Company has now gone up 4 of the past 5 hours. If you're a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment - meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. The Boeing Company's hourly price chart is shown below. BA The Daily View for The Boeing Company At the time of this writing, BA's price is up $6.18 (5.06%) from the day prior. This is the 2nd day in a row The Boeing Company has seen its price head up. Regarding the trend, note that the strongest trend exists on the 100 day timeframe. The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment - meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. Divergence between BA's price and its RSI may be manifesting. As such, be on the lookout for trend reversal in BA's price. Below is a daily price chart of The Boeing Company. BA Featured The Boeing Company Idea From TradingView Below is a trading comment entitled BA: Simple Trade Idea you may find interesting: If you look at my previous posts on BA, this entire selloff of this stock was to be expected. Boeing CEO just released a press update expecting the industry to be bullish going forward, so I would be long BA at these levels for the short term being that we are sitting on support. Not financial advice Source:cfdtrading Jun 14, 2022: Boeing to Highlight Partnerships, Sustainability, and its Growing Presence in Germany at ILA Berlin Airshow 2022 BERLIN, June 14, 2022 -- At ILA Berlin Airshow, Boeing [NYSE: BA] will highlight its industry-leading portfolio of commercial, defense and support services and showcase advanced systems and capabilities with a focus on sustainable aerospace. Boeing's presence at the show will include its commercial airliners, along with advanced defense capabilities such as heavy-lift helicopter, maritime patrol aircraft, advanced fighters and trainers, and autonomous systems. "We welcome the opportunity to engage with the global aerospace community at the show after a two year pause," said Michael Haidinger, president of Boeing Germany, Central & Eastern Europe and the Nordics. "We will highlight our strengths in innovation and sustainability, our established and growing presence in Germany, new strategic partnerships with German industry, and our growing family of products that will soon be in operation by the German armed forces and airline customers." Boeing's exhibit will highlight the 777X, 737 MAX and 777-8F, in addition to the EA-18G Growler, T-7A Advanced Pilot Training System, the Boeing Airpower Teaming System and Germany's future maritime patrol aircraft, the P-8A Poseidon. The CH-47 Chinook, which was recently selected by the German Government for its STH Heavy-Lift Helicopter program, will additionally be highlighted at the show. During the show, a Royal Air Force CH-47 Chinook will perform daily flight displays. The U.S. Department of Defense is expected to display several Boeing platforms, including the AH-64 Apache attack helicopter, CH-47 Chinook heavy-lift helicopter, P-8A Poseidon maritime patrol aircraft, C-17 Globemaster III military transport aircraft, and F-15 fighter jet. Source: Company Website Jun 14, 2022: Boeing Announces Partnership with Commonwealth of Virginia, Virginia Tech Establishing Veteran Transition & Military Families Center "Boeing has a long, proud history of supporting veterans and their families during and after their service. We're also a leading employer of service members, with veterans representing more than 15% of our workforce. So we're honored to join Virginia and Virginia Tech to build on Boeing's commitment to veterans with this Center for Veteran Transition & Military Families," said Boeing President and CEO Dave Calhoun. "This initiative will unlock new career opportunities for veterans and their families and help develop leading technical talent while affirming our continued investment in Northern Virginia." Source: Company Website Jun 13, 2022: Global All-Electric Propulsion Satellite Market sales revenue report 2022-2029 The Boeing Company, Viasat, Inc., The Raytheon Company, Airbus SE The detailed analysis of the global All-Electric Propulsion Satellite market delivers key insights on the changing industry dynamics, value chain analysis, leading investment pockets, competitive scenarios, regional landscape, and crucial segments. It also offers an extensive inspection related to the driving and restraining ingredients for the global All-Electric Propulsion Satellite market. Additionally, explains the superior data about the working strategies and growth prospects of the global All-Electric Propulsion Satellite market. This will help industry players, policymakers, stakeholders, investors, and new aspirants to grab innovative opportunities, uncover important strategies, and also accomplish a competitive edge in the global All-Electric Propulsion Satellite Industry. Get a FREE PDF Sample of the Global All-Electric Propulsion Satellite Market Report: https://marketresearchexpertz.com/report/global-allelectric-propulsion-satellite-market-538970#request-sample The report delivers a comprehensive evaluation of the All-Electric Propulsion Satellite market globally for the forecasted period through 2022-2029. The global All-Electric Propulsion Satellite market report comprises different marketing components and the future trends that are performing a substantial role in the All-Electric Propulsion Satellite industry. The factors such as the drivers, opportunities, challenges, and restraints will impact the All-Electric Propulsion Satellite market growth across the world. Moreover, the All-Electric Propulsion Satellite market report gives a deep outlook on the implementation of the All-Electric Propulsion Satellite market in terms of revenue throughout the projected period. The study pays attention to the loftiest revenue-generating and highest growing segments of the All-Electric Propulsion Satellite market. All these insights help explore strategies and accomplish sustainable growth in the All-Electric Propulsion Satellite market. This makes the research document accurately organized and systematic alongside encouraging a simpler understanding of each facet covered in this report. The research also offers deep segmentation of the global All-Electric Propulsion Satellite market 2022 based on the specific region, well-established players, applications, and product types. The global All-Electric Propulsion Satellite market report also offers a comprehensive analysis of each segment of the All-Electric Propulsion Satellite market. The insights on the All-Electric Propulsion Satellite market report are valuable in evaluating distinct components such as analyzing expansion strategies, finding growth potential, and focusing on opportunities that are available in new regions/countries. Source:designerwomen Jun 13, 2022: Industrial automation innovation among military industry companies has dropped off in the last year Research and innovation in industrial automation in the military equipment and technologies sector has declined in the last year. The most recent figures show that the number of industrial automation related patent applications in the industry stood at 251 in the three months ending April - down from 437 over the same period in 2021. Figures for patent grants related to industrial automation followed a similar pattern to filings - shrinking from 414 in the three months ending April 2021 to 341 in the same period in 2022. The figures are compiled by GlobalData, who track patent filings and grants from official offices around the world. Using textual analysis, as well as official patent classifications, these patents are grouped into key thematic areas, and linked to key companies across various industries. Industrial automation is one of the key areas tracked by GlobalData. It has been identified as being a key disruptive force facing companies in the coming years, and is one of the areas that companies investing resources in now are expected to reap rewards from. The figures also provide an insight into the largest innovators in the sector. The Boeing Co was the top industrial automation innovator in the military equipment and technologies sector in the latest quarter. The company, which has its headquarters in the United States, filed 75 industrial automation related patents in the three months ending April. That was down from 97 over the same period in 2021. It was followed by the United States based Raytheon Technologies Corp with 51 industrial automation patent applications, the Netherlands based Airbus SE (44 applications), and France based Safran SA (27 applications). Airbus SE has recently ramped up R&D in industrial automation. It saw growth of 31.8% in related patent applications in the three months ending April compared to the same period in 2021 - the highest percentage growth out of all companies tracked with more than 10 quarterly patents in the military equipment and technologies sector. Source:army-technology Jun 13, 2022: Navy orders targeting network embedded computing avionics system for attack jets from Boeing and L3Harris PATUXENT RIVER NAS, Md. - U.S. Navy aerial warfare experts are beefing-up the capability of carrier-based jet fighter-bombers to share networked targeting information with other aircraft and weapons systems. Officials of the Naval Air Systems Command at Patuxent River Naval Air Station, Md., announced a $39.7 million order to the Boeing Co. Defense, Space & Security segment in St. Louis last week for the Distributed Targeting Processor-Networked (DTP-N) for U.S. and Australia to carry out anti-ship warfare from the F/A-18E/F and EA-18G attack jets. Boeing will provide 63 DTP-N B kits -- 32 for the Navy and 31 for -- Australia; and 56 DTP-N A1 kits -- 32 for the Navy and 24 for Australia -- as well as DTP-N cyber security support. The DTP-N network and computer avionics, from L3Harris Technologies Inc. in Melbourne, Fla., is a high-performance data- and signal-processing computer that bridges gaps between onboard and external data networks in real time. Related: Rugged secure networking embedded systems for mission-critical uses like air defense introduced by Elma The system incorporates the tactical targeting network technology and produces a common operating picture. It has one air-cooled weapon replaceable assembly consisting of a chassis, backplane assembly, and several removable embedded computing modules. Boeing is the systems integrator of the F/A-18E/F and EA-18G attack aircraft. DTP-N is designed to reduce pilot workload by providing actionable information to the warfighter on the large-area display. It computers algorithms quickly, and provides performance scalability, technology insertion and functional growth capability via an open system architecture. The DTP-N multilevel security capability supports several security enclaves on board and provides secure interoperability with other subsystems. Related: Applying zero trust principles to embedded systems The DTP-N is designed to improve mission processing, subsystem interfacing, display generation, and secure multilevel information management. It hosts user-generated software with third-party and supplier-provided software. The DTP-N computer provides a gateway from existing F/A-18E/F and EA-18G avionics to new external wireless tactical networks. It connects to the L3Harris Tactical Targeting Network Technology (TTNT) through Multifunction Information Systems Joint Tactical Radio System (MIDS JTRS) Ethernet interfaces to increase bandwidth, and to collect and share time-critical information using voice, streaming video, and still imagery. Source:militaryaerospace Jun 13, 2022: Akasa Air's Boeing 737 Max 8 plane spotted airborne with new livery, top things to know Ace investor Rakesh Jhunjhunwala backed Akasa Air is gearing up for their commercial operations to start in India soon. India's newest airline is waiting to take delivery of the Boeing 737 Max 8 aircraft, following which they can apply for the necessary certifications. While Akasa Air did share the first glimpse of its aircraft with the new livery parked at the Boeing's facility in the United States, new photographs have now emerged showing airborne Akasa Air plane with the company's 'rising A' symbol and orange and purple livery, a new for the Indian market. As per a report, the first aircraft bearing line number 7617, was initially destined for T'Way Air, a South Korean low-cost carrier. However, the company didn't take the aircraft and Boeing alloted the unit to the Akasa Air, who placed an order of 72 Boeing 737 Max 8, the largest order for the controversial Max series of aircrafts. According to data from Ch-Aviation, the airframe is almost three years old now. Source:zeenews.india Jun 13, 2022: Boeing Announces Partnership with Commonwealth of Virginia, Virginia Tech Establishing Veteran Transition & Military Families Center ARLINGTON, Va., June 13, 2022- Boeing [NYSE: BA] announced today a new partnership with the Commonwealth of Virginia and Virginia Tech to establish The Boeing Center for Veteran Transition & Military Families, a new hub for veterans and their families. The Center, to be located at Virginia Tech's Innovation Campus in Alexandria, Va., will provide career resources and advance employment opportunities for veterans in one of the nation's most rapidly developing tech corridors, as well as support for military families during the transition to civilian life. "Boeing has a long, proud history of supporting veterans and their families during and after their service. We're also a leading employer of service members, with veterans representing more than 15% of our workforce. So we're honored to join Virginia and Virginia Tech to build on Boeing's commitment to veterans with this Center for Veteran Transition & Military Families," said Boeing President and CEO Dave Calhoun. "This initiative will unlock new career opportunities for veterans and their families and help develop leading technical talent while affirming our continued investment in Northern Virginia." Boeing and Virginia Tech's partnership dates back 70 years - highlighted by the company's recent $50 million investment to become the first foundational partner of the Innovation Campus. Source: Company Website Jun 09, 2022: Boeing CSO Raymond to Speak at Jefferies A&D ESG Summit June 14 Visit https://wsw.com/webcast/jeff232/ba/1510134 to access a link to the live broadcast of the conference. Individuals should check the website prior to the session to ensure access to the audio stream. Source: Company Website Jun 08, 2022: Boeing Can't Find Enough Workers to Build the New Air Force One A new GAO report details the latest setback for the presidential planemaker. Boeing is having trouble hiring qualified aircraft mechanics to build the new Air Force One as it competes in an ultra-competitive labor market, according to a new government report. It's the latest setback for the planemaker as it tries to get the high-profile presidential plane effort back on track following other problems that have delayed the project at least two years. Difficulties in finding skilled workers are hardly unique to Boeing; companies across the United States have struggled to find employees for specialty positions. But Boeing is unique because it needs skilled workers who can also pass a comprehensive security clearance process in order to work on the top-secret aircraft, which the Air Force calls the VC-25B. "Employees must meet stringent security requirements to work on the VC-25B program because of its presidential mission," the Government Accountability Office said Wednesday in a new report to Congress. "VC-25B officials said that Boeing continues to work with the program office to improve the prescreening process for applicants to ensure timely processing of security clearances." Boeing has run into numerous problems converting two already-built 747-8 jetliners into a flying White House. The company has lost more than $1.1 billion on the projects. To date, the company has blamed the delays on workforce issues related to the pandemic and a legal dispute with a company that was supposed to customize the planes' interiors. Boeing has never explicitly said it did not have enough workers. Still, Boeing has been advertising job openings for Air Force One workers since at least 2020. The company's hiring website lists at least 11 job openings related to the new Air Force One at a factory in San Antonio, Texas. Workers can "build the flying Oval Office in San Antonio," the company website states. "You'll build the next Air Force One, one of the most technologically-advanced aircraft in the sky, and your skills will be challenged every day," the website states. "Your future is built here." Boeing finished "major structural modifications" to the first of two aircraft and is expected to finish the same work on the second aircraft by the end of the spring, GAO said in the report. The planes must now undergo extensive wiring. [W]iring remains a risk because over 2,000 wire bundles and 200 miles of wire-almost double that of a commercial [Boeing] 747 aircraft-will be installed on the aircraft," GAO said. "Wiring must meet a broad set of complex requirements from electrical protection to proper separation, according to VC-25B officials." Source:defenseone Jun 08, 2022: Boeing 737 MAX: All you need to know about fourth generation narrow-body airliner New Delhi: Ace investor Rakesh Jhunjhunwala backed Akasa Air is all set to receive its first Boeing 737 Max aircraft by mid-June and will commercially be operational by next month. Meanwhile, it released photographs of its first Max plane from the Boeing production facility in the USA's Portland as it gets ready for delivery. The new airline has planned to fly 18 aircraft by the end of March 2023 across domestic routes in the country, focusing on the metro to tier-2 and tier-3 cities. Akasa Air signed a deal with Boeing on November 26, 2021, to purchase 72 Max planes. The development came after the Directorate General of Civil Aviation showed a green signal to Boeing 737 Max aircraft in late August last year. Among all these developments, we will spotlight the Boeing 737 Max aircraft in this article. Source:news9live Jun 08, 2022: As Boeing slows, MAX inventory rises in Wichita Spirit CEO Tom Gentile said Wednesday that around 85-90 737 MAX fuselages are now in storage in Wichita. Source:bizjournals Jun 08, 2022: The Boeing Company Came Into Today Down -0.77% The Hourly View for The Boeing Company Currently, BA's price is up $0.14 (0.1%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 and 50 hour moving averages have been crossed, so that price is now turning above them. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment - meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The Boeing Company's hourly price chart is shown below. BA The Daily View for The Boeing Company At the time of this writing, BA's price is down $-1.08 (-0.77%) from the day prior. This move is a reversal from the day prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 20 day timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on The Boeing Company. Given that we see an uptrend on the 20 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment - meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. Divergence between BA's price and its RSI may be manifesting. As such, be on the lookout for trend reversal in BA's price. Source:cfdtrading Jun 07, 2022: Boeing-NATO PROJECT X Challenge Spurs Innovative Ideas for Future Autonomous Capabilities VALKENBURG, June 6, 2022 - The joint Boeing - NATO PROJECT X innovation challenge has generated new ideas for autonomous systems to reach inaccessible locations and improve situation awareness. This three-month-long intense rapid-prototyping competition allowed innovators from Dutch universities, including the Technical University of Delft, the opportunity to propose new approaches to supporting the Alliance's most pressing needs. Robert Weaver, deputy assistant secretary general for Defence Investment at NATO, highlighted the importance of autonomy and its digital enablers in areas such as data and artificial intelligence. "Project X sets a benchmark for new and creative ways to engage academia and industry and help Allies develop and adopt emerging technologies at the speed of relevance," said Weaver. Source: Company Website Jun 01, 2022: Boeing Statement on Germany's STH Heavy-Lift Helicopter Program BERLIN, June 1, 2022 - The German Government today announced that Boeing's [NYSE: BA] CH-47F Chinook has been selected for its heavy-lift helicopter requirements (STH) for the German Bundeswehr. "Boeing is honored the German government has selected the CH-47F Chinook for its STH heavy-lift helicopter requirements. With the Chinook, Germany will operate the most affordable, proven and NATO interoperable heavy-lift helicopter. We look forward to working with the U.S. and German governments to finalize this sale under the Foreign Military Sales process. Together with our Chinook Deutschland Team --- AERO-Bildung, Airbus Helicopters, CAE, ESG, Honeywell, Lufthansa Technik and Rolls-Royce Deutschland --- we are committed to delivering maximum operational availability to the German Bundeswehr for decades to come." Source: Company Website Jun 01, 2022: Boeing Teams with Canadian Industry to Offer P-8A Poseidon OTTAWA, Ontario, June 1, 2022 - Boeing [NYSE: BA] and several Canadian industry partners announced today their intent to collaborate to provide the capability and sustainability of the proven P-8A Poseidon for the Canadian Multi-Mission Aircraft (CMMA) requirement. Team Poseidon, consisting of CAE, GE Aviation Canada, IMP Aerospace & Defence, KF Aerospace, Honeywell Aerospace Canada and Raytheon Canada, forms the cornerstone of a Canadian P-8 industrial footprint. The team builds on 81 Canadian suppliers to the platform and to more than 550 Canadian suppliers across all provinces contributing to Boeing's annual CAD $5.3 billion in economic benefit to Canada, supporting more than 20,000 Canadian jobs. The Boeing P-8A is a proven military off-the-shelf solution with nearly 150 aircraft delivered to five nations to date. The P-8 will improve Canada's capability to defend its northern and maritime borders while ensuring interoperability with NORAD and NATO allies. As a leading platform for reducing the environmental impact of military aircraft, the P-8 can operate on a 50% blend of sustainable aviation fuel today with aspirations to move toward 100% with investment in new technology. "As a dedicated partner of Canadian industry for more than a century, Boeing is proud to bring together a world-class team of companies in support of our P-8 offering to Canada," said Heidi Grant, president, Business Development, Boeing Defense, Space & Security and Government Services. "Together, we will bolster Canada's aerospace and defense industry through a 100% Industrial and Technical Benefits commitment if awarded the CMMA contract." The P-8A Poseidon offers advanced anti-submarine warfare, anti-surface warfare, intelligence, surveillance and reconnaissance, and search and rescue capability, and is the only in-service, in-production multi-mission aircraft that meets all CMMA requirements. The P-8 also has the added distinction of strengthening the connection between national security and environmental stewardship. "The P-8A Poseidon offers a unique opportunity for the Royal Canadian Air Force today in that all of the development costs have been paid by other P-8 customers," said Sean Liedman, director of International Business Development for Mobility & Surveillance aircraft, Boeing Defense, Space & Security. "By its non-developmental nature, P-8 offers an affordable solution that will defend and protect Canadian security for future generations. With Canada at the forefront of cleaning and greening, it's fitting that Team Poseidon is elevating long-term environmental sustainability as an integral part of national defence." Having executed more than 450,000 collective mishap free flight-hours, the P-8A Poseidon has proven its capability to operate around the globe in the harshest flight regimes including extended operations in extreme cold weather and icing environments. Current Boeing P-8 customers include the US Navy, Indian Navy, Royal Australian Air Force, Royal Air Force, Royal Norwegian Air Force, Royal New Zealand Air Force, Republic of Korea Navy and Germany Navy. Built on the proven 737 Next-Generation airframe, P-8's 86% commonality with more than 4,000 in-service 737NGs delivers lower life-cycle sustainment costs due to large economies of scale. Source: Company Website May 25, 2022: Boeing Starts New A-10 Wing Deliveries to U.S. Air Force OGDEN, Utah, May 25, 2022 - Boeing [NYSE: BA], in partnership with Korean Aerospace Industries and other key suppliers, has delivered the first new wing set for the A-10 Thunderbolt II fleet to the U.S. Air Force. The wing set arrived earlier this month to Hill Air Force Base in Ogden, Utah, where the Air Force has started aircraft integration. "Boeing is working diligently to deliver greatly needed new wings for the A-10 fleet," said Lt. Col. Jaclyn Melton, materiel leader for A-10 Programs in the A-10 System Program Office at Hill Air Force Base. Boeing was awarded the contract in August 2019 and is currently working to provide the Air Force with 50 wing sets. Each wing set consists of outer wing assemblies, center wing assembly, control surfaces and the fuselage integration kit. The upgraded wings are more durable, efficient, and easier to maintain, extending A-10 flying life to 10,000 hours. "The A-10 serves a critical role for the Air Force and Boeing is proud to extend our legacy of supporting the Thunderbolt and its mission," said Dan Gillian, vice president of U.S. Government Services for Boeing Global Services. "In partnership with the Air Force and our established supply base, we have started full rate production and are actively supporting the customer's installation schedule." The A-10 wing program was previously a dry line, with tools and equipment housed in long-term storage. Boeing Global Services revived the tooling and activated the supply base within 12 months of contract award. The company's previous experience with the A-10 includes delivering 173 enhanced A-10 wing assemblies under a separate contract. Source: Company Website May 25, 2022: Boeing and Ethiopian Airlines Announce Order for Five 777 Freighters SEATTLE, May 25, 2022 /PRNewswire/ -- Boeing [NYSE:BA] and Ethiopian Airlines today announced the carrier is further expanding its all-Boeing freighter fleet with an order for five 777 Freighters. The order is currently unidentified on Boeing's orders and deliveries website. "The addition of these five 777 Freighters into our cargo fleet will enable us to meet the growing demand in our cargo operation. While cementing our partnership with Boeing with new orders, the growth of our freighter fleet takes the capacity and efficiency of our shipment service to the next level," said Ethiopian Airlines Group CEO Mr. Mesfin Tasew. "We always strive to serve our customers with the latest technology aircraft the aviation industry could offer. Our cargo terminal is Africa's largest, coupled with fuel-efficient freighters and well-trained cargo handling professionals will enable our customers get the best quality shipment service. Customers can rely on Ethiopian for wide-ranging cargo services across five continents." Boeing's market-leading 777 Freighter is the world's largest, longest-range and most capable twin-engine freighter flying with 17% lower fuel use and emissions to prior airplanes. Ethiopian Airlines operates a fleet of nine 777 Freighters, utilizing the model's range of 4,970 nautical miles (9,200 km) and maximum structural payload of 107 tonnes (235,900 lb) to connect Africa with 66 dedicated cargo centers throughout Asia, Europe, the Middle East and the Americas. "Ethiopian Airlines' all-Boeing freighter fleet provides them with unrivalled capability and flexibility as Africa's largest cargo operator," said Ihssane Mounir, Boeing's senior vice president of Commercial Sales and Marketing. "These additional 777 Freighters will enable Ethiopian to capitalize on near-term cargo demand, while positioning the airline for further expansion in the future." In early March 2022, Boeing and Ethiopian Airlines also announced the signing of a Memorandum of Understanding for the carrier's intent to purchase five 777-8 Freighters, the industry's newest, most capable and most fuel-efficient twin-engine freighter. Ethiopian Airlines also operates three 737-800 converted freighters, as well as a combined passenger fleet of more than 80 Boeing jets, including 737s, 767s, 777s and 787s. Source: Company Website May 25, 2022: Boeing, NASA Complete First Starliner Space Station Flight Test WHITE SANDS, NEW MEXICO, May 25, 2022 - Boeing's [NYSE: BA] CST-100 Starliner spacecraft landed at the U.S. Army's White Sands Missile Range in New Mexico at 5:49 p.m. Central Time. The safe return to Earth brings a close to the successful end-to-end uncrewed orbital flight test that was flown to demonstrate the quality and performance of the transportation system prior to crewed flights. "We have had an excellent flight test of a complex system that we expected to learn from along the way and we have," said Mark Nappi, vice president and program manager, Boeing Commercial Crew Program. "Thank you to the NASA and Boeing teammates who have put so much of themselves into Starliner." The flight test completed today began May 19 with a launch from Florida's Cape Canaveral Space Force Station atop a United Launch Alliance Atlas V rocket. Capabilities the Starliner demonstrated included: End-to-end performance of the Atlas V rocket and Starliner spacecraft through launch, ascent, on-orbit, re-entry and landing; Starliner's autonomous software and the on-orbit operation of its avionics system, docking system, communications/telemetry systems, environmental control systems, solar arrays, electrical power systems, and propulsion systems; Ability to hold docking attitude, receive commands from the space station crew, and command holds and retreats during final station approach; Battery charging, hatch open and close, establishing joint ventilation with the station, file transfer and cargo transfer. When Starliner completes its next flight, Boeing will have fulfilled NASA's goal of having two commercial vehicles to transport astronauts safely, reliably and sustainably to the station from American soil. "With the completion of OFT-2, we will incorporate lessons learned and continue working to prepare for the crewed flight test and NASA certification," Nappi added. As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing's diverse team is committed to innovating for the future, leading with sustainability, and cultivating a culture based on the company's core values of safety, quality and integrity. Join our team and find your purpose at boeing.com/careers. Source: Company Website May 24, 2022: Events Calendar: Boeing President and CEO to Speak at Bernstein Strategic Decisions Conference June 3 CHICAGO, May 23, 2022 /PRNewswire/ -- Boeing [NYSE: BA] President and Chief Executive Officer Dave Calhoun will speak at the Bernstein Strategic Decisions Conference on June 3rd at 8:00 a.m. ET. Visit https://kvgo.com/bernstein-2022-38th-annual-sdc/boeing-june to access a link to the live broadcast of the conference. Individuals should check the website prior to the session to ensure access to the audio stream. Contact Investor Relations: 312-544-2140 Communications: media@boeing.com SOURCE Boeing Source: Company Website May 23, 2022: Boeings Starliner Spacecraft Completes Successful Docking to Space Station HOUSTON, May 20, 2022 - Boeing's [NYSE: BA] CST-100 Starliner spacecraft made its first connection to the International Space Station at 7:28 p.m. Central Time (0028 UTC) today to complete a primary goal of the program's Orbital Flight Test-2 (OFT-2). With no astronauts on board, Starliner's autonomous systems and ground controllers in Houston guided the vehicle through a carefully choreographed series of maneuvers to steadily bring the Starliner closer to the orbiting laboratory before docking. Astronauts aboard the space station monitored Starliner throughout the flight and at times commanded the spacecraft to verify control capabilities. "Today's successful docking of the Starliner is another important step in this rehearsal for sending astronauts into orbit safely and reliably," said Boeing Defense, Space & Security President and CEO Ted Colbert. Launching atop a human-rated United Launch Alliance Atlas V rocket on May 19, 2022, from Cape Canaveral Space Force Station in Florida, Starliner spent its first hours in space performing a series of system demonstrations allowing mission managers to verify the spacecraft was healthy and able to maneuver safely. After docking, the Starliner recharged its batteries using solar arrays located on the service module. After astronauts aboard the station declared "Tally-ho, Starliner," the vehicle connected to a Boeing-built docking port on the International Space Station. "Starliner has proven safe, autonomous rendezvous and docking capability," said Jim Chilton, senior vice president, Boeing Space and Launch. "We're honored to join the fleet of commercial spacecraft capable of conducting transportation services to the space station for NASA." Equipped with a fully functional life support system, as well as all of the other critical systems to support humans, the spacecraft and mission are designed to give Boeing and NASA enough data to certify the spacecraft for long-duration crewed missions to the International Space Station. During the Starliner's docked time on orbit, the crew of the station will float inside the spacecraft, conduct an initial cabin tour, and periodically perform system checkouts while ground controllers evaluate data gathered during its flight. As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing's diverse team is committed to innovating for the future, leading with sustainability, and cultivating a culture based on the company's core values of safety, quality and integrity. Join our team and find your purpose at boeing.com/careers. Source: Company Website May 19, 2022: Boeing Starliner En Route to International Space Station CAPE CANAVERAL, Fla., May 19, 2022 -The Boeing [NYSE: BA] CST-100 Starliner spacecraft is on its way to the International Space Station after successfully performing the planned orbital insertion burn 31 minutes into flight. The spacecraft is expected to dock with the space station after a nearly 24-hour journey in low Earth orbit, bringing together the Boeing-built Starliner with a Boeing-built space station module. "Boeing's Starliner is a symbol of perseverance and pride - designed, built, tested and flown by a team of people who are committed to their mission of safely and reliably transporting astronauts," said Boeing Defense, Space & Security President and CEO Ted Colbert. "They will remain laser-focused on the spacecraft and its performance throughout this flight test." The reusable Starliner spacecraft lifted off atop a human-rated United Launch Alliance Atlas V rocket at 6:54 p.m. Eastern time from Space Launch Complex 41 at Cape Canaveral Space Force Station in Florida. Another previously flown spacecraft is undergoing preparations to carry astronauts to and from the space station for NASA's Commercial Crew Program. "We've learned a lot about the capability of our spacecraft and the resilience of our team since the first Starliner launch," said Mark Nappi, vice president and program manager, Boeing Commercial Crew Program. "We still have a lot of operational testing ahead as we prepare to rendezvous with the space station, but we're ready to demonstrate the system we've worked so hard on is capable of carrying astronauts to space." Source: Company Website May 19, 2022: International Airlines Group Finalizes Agreement for Up to 150 737 Jets SEATTLE, May 19, 2022 /PRNewswire/ -- Boeing [NYSE: BA] and International Airlines Group (IAG) today announced an order for a combined total of 50 737-8-200s and 737-10s, plus 100 options. "The addition of new Boeing 737s is an important part of IAG's short-haul fleet renewal. These latest generation aircraft are more fuel efficient than those they will replace and in line with our commitment to achieving net zero carbon emissions by 2050," said Luis Gallego, IAG's chief executive. The 737-8-200 will enable IAG to configure the airplane with up to 200 seats, increasing revenue potential and reducing fuel consumption. The largest model in the family, the 737-10 seats up to 230 passengers in a single-class configuration and can fly up to 3,300 miles. The fuel-efficient jet can cover 99% of single-aisle routes, including routes served by 757s. "With the selection of the 737-8-200 and larger 737-10, IAG has invested in a sustainable and profitable future, as both variants will significantly lower operating costs and CO2 emissions," said Stan Deal, president and CEO of Boeing Commercial Airplanes. "Today's agreement for up to 150 airplanes, including 100 options, is a welcome addition of the 737 to IAG's short-haul fleets and reflects our commitment to support the Group's continued network recovery and future growth with Boeing's unrivalled family of airplanes." Source: Company Website May 11, 2022: Boeing, Nammo Conduct Successful Ramjet 155 Artillery Tests ARLINGTON, Va., May 11, 2022-A team from Boeing and the Norwegian company Nammo has conducted successful ground-fire tests of its Ramjet 155 Extended Range Artillery Projectile - a technology to enable long-range precision fires, one of the U.S. Army's key modernization priorities. The tests, led by Nammo and conducted during the months of January and March in Norway, validated gun-launched survivability and performance predictions, and expanded Ramjet 155's employment envelope. "Long-range precision-fires is a top modernization priority for the U.S. Army," said Steve Nordlund, Boeing Phantom Works vice president and general manager. "Therefore, it also is a top priority for Boeing. We are very encouraged by the development progress, maturation and ongoing testing of our Ramjet 155 projectile, which we believe will offer a superior, affordable capability against emerging threats." "We are seeing excellent progress in the development of the ramjet, with no major stumbling blocks," said Nammo CEO Morten Brandtzaeg. "The latest tests have been extremely promising." Since 2019, Boeing Phantom Works and Nammo have been working together under a strategic partnership to jointly develop and produce the next generation of boosted artillery projectiles to meet the Army's long-range, precision-fire priorities. Ramjet 155 uses an engine in which the air drawn in for combustion is compressed solely by the forward motion of the projectile at supersonic speeds. The program builds on the success of Boeing's Joint Direct Attack Munition (JDAM) and Small Diameter Bomb (SDB) programs and addresses range, accuracy and volume of fire gaps between current artillery systems and those operated by potential adversaries. Source: Company Website May 10, 2022: Boeing Statement of Support on Former Santa Susana Field Laboratory Cleanup Framework "Boeing supports the comprehensive framework with the State of California as it provides a clear, accelerated path forward for Boeing's cleanup at the former Santa Susana Field Laboratory. The framework protects the important environmental and cultural resources at the site, which will never be developed under a conservation easement. It is a win for California and reflects Boeing's deep commitment to safety, sustainability and the communities where we live and work." Source: Company Website May 09, 2022: Lufthansa Group Selects New 777-8 Freighter, Orders Additional 787s SEATTLE, May 9, 2022 /PRNewswire/ -- Boeing [NYSE: BA] and the Lufthansa Group today announced the airline group will continue its strategic decision to strengthen Lufthansa Cargo with an order for seven 777-8 Freighters, the industry's newest and most fuel-efficient twin-engine freighter. The Group has also placed a new order for two 777 Freighters to add to its cargo fleet, providing extra cargo capacity in the near-term until the delivery of its first 777-8 Freighter. In addition, the Lufthansa Group continues to accelerate the modernization of its long-haul passenger fleet with a new purchase of seven 787-9s. The order for more 787s brings Lufthansa Group's total order book for the 787 Dreamliner to 32 firm orders. The Group also is a launch customer for the 777X passenger airplane, with 20 firm orders. "The continuous modernization of Lufthansa Group's long-haul fleet is one of our top priorities. Therefore, we are very pleased to further invest into the newest generation of Boeing aircraft. The purchase will complement our existing orders and further reduce our operating costs, enhance fuel efficiency and provide state-of-the-art customer experiences. Moreover, the purchase highlights our commitment towards enhancing sustainable aviation," said Dr. Detlef Kayser, Member of the Executive Board of Deutsche Lufthansa AG. Boeing launched the new 777-8 Freighter in January and has already booked 34 firm orders for the model. With advanced technology from the new 777X family and proven performance of the market-leading 777 Freighter, the 777-8 Freighter offers the highest payload and the lowest fuel use, emissions and operating cost per tonne of any large freighter. Source: Company Website May 09, 2022: Boeing: Lufthansa Group Selects New 777-8 Freighter, Orders Additional 787s SEATTLE, May 9, 2022 /PRNewswire/ -- Boeing [NYSE: BA] and the Lufthansa Group today announced the airline group will continue its strategic decision to strengthen Lufthansa Cargo with an order for seven 777-8 Freighters, the industry's newest and most fuel-efficient twin-engine freighter. The Group has also placed a new order for two 777 Freighters to add to its cargo fleet, providing extra cargo capacity in the near-term until the delivery of its first 777-8 Freighter. In addition, the Lufthansa Group continues to accelerate the modernization of its long-haul passenger fleet with a new purchase of seven 787-9s. The order for more 787s brings Lufthansa Group's total order book for the 787 Dreamliner to 32 firm orders. The Group also is a launch customer for the 777X passenger airplane, with 20 firm orders. "The continuous modernization of Lufthansa Group's long-haul fleet is one of our top priorities. Therefore, we are very pleased to further invest into the newest generation of Boeing aircraft. The purchase will complement our existing orders and further reduce our operating costs, enhance fuel efficiency and provide state-of-the-art customer experiences. Moreover, the purchase highlights our commitment towards enhancing sustainable aviation," said Dr. Detlef Kayser, Member of the Executive Board of Deutsche Lufthansa AG. Boeing launched the new 777-8 Freighter in January and has already booked 34 firm orders for the model. With advanced technology from the new 777X family and proven performance of the market-leading 777 Freighter, the 777-8 Freighter offers the highest payload and the lowest fuel use, emissions and operating cost per tonne of any large freighter. Source: Company Website May 09, 2022: Boeing Statement of Support on Former Santa Susana Field Laboratory Cleanup Framework ARLINGTON, Va. May 9, 2022 - Boeing today released the following statement: "Boeing supports the comprehensive framework with the State of California as it provides a clear, accelerated path forward for Boeing's cleanup at the former Santa Susana Field Laboratory. The framework protects the important environmental and cultural resources at the site, which will never be developed under a conservation easement. It is a win for California and reflects Boeing's deep commitment to safety, sustainability and the communities where we live and work." Source: Company Website May 05, 2022: Boeing Names Northern Virginia Office Its Global Headquarters; Establishes Research & Technology Hub ARLINGTON, Va., May 5, 2022 /PRNewswire/ -- Boeing [NYSE: BA] announced today that its Arlington, Virginia campus just outside Washington, D.C. will serve as the company's global headquarters. The aerospace and defense firm's employees in the region support various corporate functions and specialize in advanced airplane development and autonomous systems. In addition to designating Northern Virginia as its new headquarters, Boeing plans to develop a research & technology hub in the area to harness and attract engineering and technical capabilities. "We are excited to build on our foundation here in Northern Virginia. The region makes strategic sense for our global headquarters given its proximity to our customers and stakeholders, and its access to world-class engineering and technical talent," said Boeing President and Chief Executive Officer Dave Calhoun. Boeing will maintain a significant presence at its Chicago location and surrounding region. "We greatly appreciate our continuing relationships in Chicago and throughout Illinois. We look forward to maintaining a strong presence in the city and the state," said Calhoun. "We also want to especially thank Governor Youngkin for his partnership, and Senator Warner for his support as we worked through the process." Future of Work Enables More Investment in Manufacturing, Engineering, Training Over the past two years, Boeing has implemented flexible and virtual solutions that have enabled the company to reduce its office space needs. At its Chicago office, less office space will be required for the employees who will continue to be based there. Boeing will adapt and modernize the workspace to better support future work requirements. "In today's business environment, we have adopted a flexible work strategy in parts of our company and are taking steps to be more efficient within a reduced footprint. This helps us channel investments toward our critical manufacturing and engineering facilities and training resources," said Calhoun. New Boeing Research & Technology Hub As part of its effort to tap into engineering and technology talent across the U.S and around the world, Boeing plans to establish a research and technology hub in Northern Virginia. The hub will focus on developing innovations in the areas of cyber security, autonomous operations, quantum sciences and software and systems engineering. "The future of Boeing is digital," said Greg Hyslop, Boeing's chief engineer and executive vice president of Engineering, Test and Technology. "Focusing our R&D and talent development in areas that support digital innovation will fuel the introduction of cutting-edge capabilities. This new hub in Northern Virginia will follow the successful implementation of this technology strategy in other regions." Boeing's Footprint and Impact As the nation's largest exporter, Boeing employs more than 140,000 people and is hiring as the commercial market recovers and the company invests in production, innovation and product development. The company's three business units will continue to be based at their current headquarters, which include: Boeing Commercial Airplanes in Seattle, Wash. Boeing Global Services in Plano, Texas Boeing Defense, Space and Security in Arlington, Va. In addition to the company's operations, Boeing works with more than 12,000 businesses supporting more than one million supplier jobs across the United States, and located in every state. Globally, the company has operations in more than 65 countries. As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing's diverse team is committed to innovating for the future, leading with sustainability, and cultivating a culture based on the company's core values of safety, quality and integrity. Learn more at boeing.com. Source: Company Website May 03, 2022: Boeing Reports Increased Stability and Growth for Aircraft Finance Sector "Financiers and investors remain committed to the long-term fundamentals that continue to make aircraft a valuable asset class," said Tim Myers, president of Boeing Capital Corporation. "Despite the changing landscape since the emergence of the COVID-19 pandemic, the industry remains resilient and there continues to be sufficient liquidity in the market for our customers with increasing opportunities as traffic recovers." Source: Company Website May 02, 2022: Boeing Reports Increased Stability and Growth for Aircraft Finance Sector CHICAGO, May 2, 2022 /PRNewswire/ -- Boeing Capital Corporation, a wholly-owned subsidiary of Boeing [NYSE: BA], today released the 2022 Commercial Aircraft Financing Market Outlook (CAFMO) showing improving financing stability as the industry recovers from the impacts of the global pandemic. "Financiers and investors remain committed to the long-term fundamentals that continue to make aircraft a valuable asset class," said Tim Myers, president of Boeing Capital Corporation. "Despite the changing landscape since the emergence of the COVID-19 pandemic, the industry remains resilient and there continues to be sufficient liquidity in the market for our customers with increasing opportunities as traffic recovers." The 2022 CAFMO reflects Boeing's near-term view of market dynamics and assesses financing sources for new commercial airplane deliveries. "Industry fundamentals continue to show varying degrees of strength in different markets that reflect the regional trends of the global pandemic," Myers said. The 2022 CAFMO, an introductory video, regional highlight videos and regional financing data is available at www.boeing.com/CAFMO. Select highlights include: Source: Company Website Apr 28, 2022: Boeing Unveils First T-7A Red Hawk Advanced Trainer Jet to be Delivered to the U.S. Air Force ST. LOUIS, April 28, 2022 - Boeing [NYSE: BA] has unveiled the first T-7A Red Hawk advanced trainer jet to be delivered to the U.S. Air Force. The jet, one of 351 the U.S. Air Force plans to order, was unveiled prior to official delivery. The fully digitally designed aircraft was built and tested using advanced manufacturing, agile software development and digital engineering technology significantly reducing the time from design to first flight. The aircraft also features open architecture software, providing growth and flexibility to meet future mission needs. "We're excited and honored to deliver this digitally advanced, next-generation trainer to the U.S. Air Force," said Ted Colbert, president and CEO, Boeing Defense, Space & Security. "This aircraft is a tangible example of how Boeing, its suppliers and partners are leading the digital engineering revolution. T-7A will prepare pilots for future missions for decades to come." The T-7A Red Hawk incorporates a red-tailed livery in honor of the Tuskegee Airmen of World War II. These airmen made up the first African American aviation unit to serve in the U.S. military. "The Tuskegee Airmen are one of the most celebrated units in our Air Force history, and the T-7A honors the bravery and skill of these trailblazers, said Gen. Charles Q. Brown, Jr., Chief of Staff of the Air Force. "Like the Airmen they were named and painted to pay homage to, the T-7A Red Hawks break down the barriers of flight. These digitally-engineered aircraft will make it possible for a diverse cross section of future fighter and bomber pilots to be trained, and provide an advanced training system and capabilities that will meet the demands of today's and tomorrow's national security environment." Source: Company Website Apr 27, 2022: Boeing Reports First-Quarter Results The Boeing Company [NYSE: BA] reported first-quarter revenue of $14.0 billion, driven by lower defense volume and charges on fixed-price defense development programs, partially offset by commercial services volume. GAAP loss per share of ($2.06) and core loss per share (non-GAAP)* of ($2.75) also reflect $212 million of pre-tax charges for impacts of the war in Ukraine (Table 1). Boeing recorded operating cash flow of ($3.2) billion. "While the first quarter of 2022 brought new challenges for our world, industry and business, I am proud of our team and the steady progress we're making toward our key commitments," said Dave Calhoun, Boeing president and chief executive officer. "We increased 737 MAX production and deliveries and made important progress on the 787 by submitting our certification plan to the FAA. Despite the pressures on our defense and commercial development programs, we remain on track to generate positive cash flow for 2022, and we're focused on our performance as we work through certification requirements and mature several key programs to production. Leading with safety and quality, we're taking the right actions to drive stability throughout our operations, deliver on our commitments to customers and position Boeing for a sustainable future." Source: Company Website Apr 27, 2022: Boeing Enters 737 MAX MRO Agreement with Spirit AeroSystems "With this agreement, Boeing Global Services is strategically positioned to assist all 737 MAX operators by providing lease and exchange programs to respond quickly to unforeseen events," said Mini Desai, vice president of Commercial Spares and Managed Parts, Boeing Global Services. "Our business serves our customer base beyond the sale of aircraft, and now we can expand lease and exchange support for aerostructures with Spirit AeroSystems." Source: Company Website Apr 26, 2022: Boeing Enters 737 MAX MRO Agreement with Spirit Aero Systems DALLAS, April 26, 2022 - Boeing Global Services announced a new agreement with Spirit AeroSystems, Inc. and its affiliates to combine aftermarket resources, expanding the MRO footprint in support of nacelle and flight control repairs for the global 737 MAX fleet. The agreement will enhance Boeing support for nacelle and flight control surface removals with a more robust MRO footprint while combining Boeing's industry-leading asset pool with the hands-on repair experience of Spirit AeroSystems. "With this agreement, Boeing Global Services is strategically positioned to assist all 737 MAX operators by providing lease and exchange programs to respond quickly to unforeseen events," said Mini Desai, vice president of Commercial Spares and Managed Parts, Boeing Global Services. "Our business serves our customer base beyond the sale of aircraft, and now we can expand lease and exchange support for aerostructures with Spirit AeroSystems." Spirit AeroSystems has extensive experience with the 737 MAX as the original production manufacturer of the fuselage, thrust reverser, slats, and flaps. This will be the first pooling program Boeing has offered for these specific high value large structural parts. The offering was developed to expand Boeing's parts services options in response to customer needs. Source: Company Website Apr 21, 2022: Boeing Announces Multi-Year Commitment to Yale Center for Natural Carbon Capture CHICAGO, April 21, 2022- Boeing [NYSE: B.A.] today announced its support of an ambitious initiative at the Yale Center for Natural Carbon Capture to address climate change through a program of scientific research and solution-oriented innovations. The five-year, $10 million commitment will fund research methods for carbon capture at scale. "Climate change is one of the greatest challenges of our time and at Boeing, we believe we have a responsibility to take action and help find solutions to reverse its effect," said Chris Raymond, Boeing's chief sustainability officer. "To find sustainable solutions, we must work together across industry and academia, and invest in the scientific research and development that are crucial to the success of tackling climate change. This program brings all those components together and we're honored to support Yale's groundbreaking and important work in this space." The goal of the Yale Center for Natural Carbon Capture is to develop natural solutions to mitigate greenhouse gas emissions. The Center's initial focus is on near-term solutions that can capture approximately one gigaton per year, which is equivalent to current annual airline emissions. The center is developing a portfolio of carbon removal strategies that capture and store carbon from the air using natural processes and will help build planetary capacity to reduce atmospheric greenhouse gas concentrations over the next half-century. "If we are to mitigate the worst impacts of climate change, we need a portfolio of solutions to reduce net greenhouse gas emissions, including natural carbon capture. Boeing's generous support for the Yale Center for Natural Carbon Capture will enable us to accelerate the pace of research into methods of carbon sequestration at scale - with the ultimate goal being the development of real-world solutions that can be utilized by a wide array of sectors," said Indy Burke, Carl W. Knobloch, Jr. Dean of the Yale School of the Environment. Source: Company Website Apr 19, 2022: Boeing CEO Message on Equity, Diversity & Inclusion Report CHICAGO, April 19, 2022-Boeing President and CEO David Calhoun shared the following message with employees today: Team, Our company's success and innovation is driven by how we work together and live our values in everything we do. This includes prioritizing diversity and inclusion as measurable business imperatives that are vital to achieving better business outcomes. Today we published our diversity metrics for the second time in our company's history as part of our commitment to openly share and track our efforts annually. Our 2022 Global Equity, Diversity & Inclusion Report mirrors what we have experienced firsthand in our offices, factories and communities - we are making progress, we are seeing how inclusion makes us stronger collectively, and we are resolute in our commitment to continue improving. This commitment to continuous improvement, as well as our Seek, Speak & Listen habits, is apparent in the report itself which responds to feedback we heard from some of our team members by providing more metrics including data related to women of color, disability, gender identity and sexual orientation. Source: Company Website Apr 13, 2022: Boeing Announces First-Quarter Deliveries CHICAGO, April 12, 2022 /PRNewswire/ -- The Boeing Company [NYSE: BA] announced today major program deliveries across its commercial and defense operations for the first quarter of 2022. The company will provide detailed first quarter financial results on April 27. Major program deliveries during the first quarter were as follows: Source: Company Website Apr 07, 2022: Boeing to Release First-Quarter Results on April 27 Individuals should check the webcast site prior to the session to ensure their computers can access the audio stream and slide presentation. Instructions for obtaining the required free downloadable software will be posted on the site. Source: Company Website Apr 06, 2022: Boeing Celebrates 1 Million DreamLearners Participants NORTH CHARLESTON, April 6, 2022 -The Boeing Company is excited to announce that the company's DreamLearners program has reached more than 1 million participants since the program began in 2012. Elected officials, representatives from Boeing and the Charleston County School District (CCSD) celebrated the milestone at North Charleston Elementary School Wednesday, where they were joined by dozens of students who participated in a DreamLearners session. As part of the program, those in attendance also had the opportunity to participate in the program's popular paper airplane activity. DreamLearners, which began ten years ago at Boeing South Carolina, is an instructional program based on elements of science, technology, engineering, and mathematics (STEM). Students participate in hands-on group activities, discover different careers at Boeing and learn about the benefits of a STEM-focused education. The program is open to students of all ages and also meets the Force and Motion standards for 5th-grade students in South Carolina. "STEM education unlocks tomorrow's innovations, encouraging breakthroughs and advancements we can't even imagine today," said Ziad Ojakli, Executive Vice President of Government Operations at Boeing, who also attended Wednesday's event. "Boeing celebrates the inspiration and sense of accomplishment STEM programs can bring to young minds, and we are proud to champion a unique program like DreamLearners." As part of the DreamLearners program, Boeing teammate volunteers visit schools and community groups to bring these unique STEM resources to students across the state. Since its inception, more than 7,600 teammates have volunteered with the program's education-related engagements. In response to the COVID-19 pandemic, the program also added a virtual learning component. Source: Company Website Apr 05, 2022: Boeing's Spectrolab to Power NASA's Roman Space Telescope SYLMAR, Calif., April 5, 2022- Spectrolab, Inc., a wholly owned subsidiary of Boeing [NYSE: BA], will manufacture, integrate and test approximately 4,000 XTJ Prime solar cells for NASA's Nancy Grace Roman Space Telescope. "Using Spectrolab's XTJ Prime solar cells, NASA will be able to maximize the Roman Space Telescope's power generation, allowing greater data gathering capability while operating in a unique mission environment at the L2 Lagrange point," said Tony Mueller, president of Spectrolab. "These cells leverage both heritage and high efficiency for the agency's newest universe studying telescope." Spectrolab's NeXt Triple Junction (XTJ) Prime solar cells will provide power to the telescope, including its two main instruments - the Wide Field Instrument and the Coronagraph Instrument - as well as the primary mirror that is 2.4 meters in diameter (7.9 feet), and is the same size as the Hubble Space Telescope's primary mirror. The solar array consists of six panels, each approximately 3m-by-2.5m and consists of 4,000 triple junction solar cells. Triple junction solar cells leverage multiple bandgaps tuned to different wavelengths of the solar spectrum, allowing higher efficiencies not possible with commercially available silicon solar cell technology. Targeted to launch no later than May 2027, NASA's Roman Space Telescope will investigate long-standing astronomical mysteries, such as the force behind the universe's expansion, and search for distant planets beyond our solar system. The telescope is named after Nancy Grace Roman, NASA's first chief astronomer, who paved the way for space telescopes focused on the broader universe. Source: Company Website Apr 04, 2022: Boeing Successfully Demonstrates Ground-Based Anti-Jam SATCOM Capability COLORADO SPRINGS, Colo., April 4, 2022- Boeing [NYSE: BA] recently demonstrated successful integration of its Protected Tactical Enterprise Service (PTES) software elements with an industry partner's user terminal, proving technical maturity on the U.S. Space Force's pathfinder program. "The Space Force and our industry partners are employing continuous integration, rapid prototyping and agile development across the PTES program to ensure successful deployment of this critical capability, at mission relevant-speed," said Ms. Charlotte Gerhart, Space Systems Command's Tactical SATCOM division chief. "A great deal of coordination and real-time collaboration is required for industry teammates to achieve a successful integration event like this one. To fulfill our vision of digital dominance, the Space Force is building on these types of accomplishments to continue developing the most advanced mission-enabling technology to counter the threat." PTES provides ground-based Protected Tactical Waveform (PTW) processing, enabling secure operations and protected tactical communications coverage over Wideband Global SATCOM (WGS) satellites - and eventually on commercial satellites - without spacecraft modification. PTW, the U.S. military's jam resistant waveform, provides security features for data protection. Source: Company Website Apr 04, 2022: Air Lease Corporation Adds 32 Boeing 737 MAX Jets to Its Orderbook SEATTLE, April 4, 2022 /PRNewswire/ -- Boeing [NYSE:BA] and Air Lease Corp. (ALC) [NYSE:AL] today announced the aircraft lessor is expanding its airplane portfolio with an order for 32 additional 737-8 and 737-9 jets. As the travel market recovers, ALC is increasing its 737 MAX family offering to meet airline demand for modern, fuel-efficient and sustainable operations. "Following our memorandum of understanding with Boeing in February for these 32 737 MAX aircraft, we are pleased to announce the signing of this definitive purchase agreement. We believe that the economic and operating advantages of the 737 MAX will serve our airline customers well as they favor modern, fuel efficient aircraft," said John L. Plueger, Chief Executive Officer and President of Air Lease Corporation. ALC continues to grow its investment in the 737 MAX family. In February the lessor added 18 737 MAXs to its portfolio. With the new order, ALC has 130 737 MAXs in its backlog. With commonality and improved fuel efficiency, the 737 MAX family enables airlines to optimize their fleets across a broad range of missions while reducing fuel use and carbon emissions by at least 20% compared to the airplanes they replace. With the 737 MAX, ALC customers can choose airplanes that are optimized to suit multiple markets based on range and size while offering commonality for pilots and crew. The versatility of the 737 MAX family allows airlines to offer new and more direct routes for passengers and makes these airplanes highly popular among leasing and airline customers around the world. Source: Company Website Mar 31, 2022: ASL Orders Up to 20 Additional 737-800 Boeing Converted Freighters to Drive Environmental Sustainability SEATTLE, March 31, 2022 /PRNewswire/ -- Dublin-headquartered ASL Aviation Holdings (ASL) and Boeing [NYSE: BA] today announced an order for up to 20 additional 737-800 Boeing Converted Freighters (BCF). The agreement is for 10 firm orders and 10 purchase rights. "This new order is an important element of our fleet renewal programme, and we are delighted to expand our partnership with Boeing on the 737-800BCF," said Dave Andrew, Chief Executive, ASL Aviation Holdings. "The 737-800BCF offers increased reliability and performance, and equally its lower fuel burn reduces our environmental footprint. This is very important to ASL as an aviation group committed to environmental sustainability in aviation." This is ASL's second order for the 737-800BCF and including options, will bring the organization's total 737-800BCF orders and commitments with Boeing to 40 aircraft. The aircraft will be converted by Boeing at approved MRO sites including STAECO in Jinan, China and at Boeing's London Gatwick MRO facility in the United Kingdom. "We are honored to play a crucial role in the fleet renewal underway across ASL Aviation Holdings' operation," said Jens Steinhagen, director of Boeing Converted Freighters. "Boeing Converted Freighters support progress towards sustainability goals by providing operators like those under the ASL Group umbrella an economical way to replace less efficient, older-generation freighters." Source: Company Website Mar 31, 2022: Boeing-Led Industry Team Wins NATO E-3 Replacement Study Contract BRUSSELS, March 31, 2022 - Boeing [NYSE: BA] has been awarded a contract from the NATO Support and Procurement Agency (NSPA) to conduct a Risk Reduction & Feasibility Study of future air surveillance, command, and control concepts. The study by a Boeing-led industry team will guide capability development efforts by the alliance members in advance of the planned retirement of NATO's E-3 AWACS in 2035. "We are committed to helping NATO and its allies meet evolving security challenges," said Kim Stollar, Boeing managing director, EU & NATO Government Affairs. "The combined engineering and aerospace expertise of our team will ensure we deliver a technical concept that provides the most effective means of addressing NATO's future surveillance, command, and control needs." Boeing teamed up with leading NATO industry partners through the ABILITI team to deliver true multi-national, multi-domain expertise focused on a systems-of-systems. Source: Company Website Mar 31, 2022: Quarterly Activities Report: Boeing Cash Balance decreases 8.6% As per a report dated March 31, 2022 the Cash Burn of operating activities was $3,216,000,000 in the quarter ended March 31, 2022. This corresponds to an average Cash Burn Rate of $1,072,000,000 per month. To support this Cash Burn Rate, the cash balance of $7,409,000,000 as at March 31, 2022 should be adequate till October 24, 2022. The cash runway defined by the length of time to run out of money if it kept spending at its current rate of cash burn is 5 months and 26 days from today's date.
Mar 31, 2022: Boeing: File SEC Form 10-Q - Management's Discussion and Analysis 10-Q Management's Discussion and Analysis of Financial Condition and Results of Operations Consolidated Results of Operations and Financial Condition Overview The COVID-19 pandemic, 787 production issues and associated rework, and the residual impacts of the 737 MAX grounding continue to have significant adverse impacts on our business and are expected to continue to negatively impact revenue, earnings, and operating cash flow in future quarters. The COVID-19 pandemic has caused an unprecedented shock to demand for air travel, creating a tremendous challenge for our customers, our business and the entire commercial aerospace manufacturing and services sector. The latest International Air Transport Association (IATA) release reported that passenger traffic in 2021 recovered to approximately 40% of 2019 levels, as international markets saw continued reopening challenges. Travel restrictions and global economic activity were improving at the end of 2021, but improvements were delayed by the global outbreak of the Omicron variants. Governments continue to change travel policy and restrictions due to the virus as well as the war in Ukraine, with global sanctions and economic effects raising energy and other costs. We continue to expect that the recovery will remain uneven as travel restrictions and varying regional travel protocols continue to ease and lessen their impact on air travel. Generally, we continue to expect domestic travel to recover faster than international travel. As a result, we expect the narrow-body market to recover faster than the wide-body market. Also, the pace of the commercial market recovery will be heavily dependent on COVID-19 infection rates, vaccination rates, and resultant government restrictions. We are seeing a strong recovery in travel demand for our airline customers in North America and Europe. Demand for dedicated freighters continues to be strong, underpinned by a strong recovery in global trade and overall air cargo growth. Overall cargo capacity remains challenged given the large impact that COVID-19 has had on international passenger operations, which also carry cargo. Airline financial performance, which influences demand for new capacity, has been adversely impacted by the COVID-19 pandemic. According to IATA, net losses for the airline industry were $138 billion in 2020 and are expected to be approximately $52 billion in 2021. IATA also forecasts $11.5 billion of losses for the industry globally in 2022, with approximately $10 billion of profits in North America driven by the robust domestic market being more than offset by losses in other regions. Our customers are taking actions to combat the effects of the COVID-19 pandemic on the market by preserving liquidity. This comes in many forms such as deferrals of advances and other payments to suppliers, deferrals of deliveries, reduced spending on services and, in some cases, cancellation of orders. While the outlook continues to improve, we continue to face a challenging environment in the near- to medium-term as airlines have adjusted to reduced traffic, which in turn has resulted in lower demand for commercial aerospace products and services. The current environment is also affecting the financial viability of some airlines. We continue to expect commercial air travel to return to 2019 levels in 2023 to 2024. We expect it will take a few years beyond that for the industry to return to balanced market conditions. As we managed through the effects of the COVID-19 pandemic, we reduced the production rates of several of our Commercial Airplanes (BCA) programs. These rate decisions continue to be based on our ongoing assessments of the demand environment and availability of aircraft financing. There is uncertainty with respect to when commercial air traffic capacity will return to and/or exceed pre-COVID-19 levels. We closely monitor the key factors that affect backlog and future demand for each of our commercial aircraft programs, including customers' evolving fleet plans, the wide-body replacement cycle and the cargo market. We have implemented appropriate production rate adjustments in response to these factors, but risk remains that we will decide to implement further rate reductions in future quarters. Additionally, if we are unable to make timely deliveries of the large number of aircraft in inventory as of March 31, 2022, future revenues, earnings and cash flows will be adversely impacted. During the first quarter of 2022, we made adjustments to our estimates regarding timing of 777X-9 entry into service. We now anticipate that the first 777X-9 delivery will be delayed until 2025, based on an updated assessment of the time required to meet certification requirements. During the first quarter of 2022 we launched the 777X-8 freighter and we expect first delivery to be in 2027. The 737 MAX 7 and MAX 10 models are also currently going through Federal Aviation Administration (FAA) certification activities. The 737 MAX 7 completed FAA certification flight testing in 2021 and is expected to enter service later in 2022. The 737 MAX 10 is expected to begin FAA certification flight testing later in 2022 and enter service in 2023. Section 116 of the December 2020 Aircraft Certification, Safety and Accountability Act (ACSAA) prohibits the FAA from issuing a type certificate to aircraft after December 27, 2022 unless the aircraft's flight crew alerting system meets certain requirements. As a result, if the MAX 7 and MAX 10 aircraft are not certified before December 27, 2022 we may encounter further certification delays. We are working closely with the FAA on implementation of ACSAA legislation and expect any necessary actions to be defined later this year. If we are unable to achieve entry into service consistent with our current assumptions, future revenues, earnings and cash flows will be adversely impacted. Deliveries of the 737 MAX resumed in the fourth quarter of 2020, when the FAA rescinded the order that grounded 737 MAX aircraft in the U.S. Over 185 countries have approved the resumption of 737 MAX operations. The Civil Aviation Administration of China issued an airworthiness directive in the fourth quarter of 2021 outlining actions required for airlines to return to service. The 737 MAX has yet to return to service in China. While we expect 737 MAX deliveries to China to resume in 2022, subject to final regulatory approvals, risk remains around the timing and rate of those deliveries. Orders to suspend operations of 737 MAX aircraft from non-U.S. civil aviation authorities are still in effect in a small number of countries. Deliveries and production have also been impacted by production issues and associated rework. For example, deliveries of the 787 are currently paused and the production rate has been reduced while we focus on rework of undelivered aircraft and continue to engage in detailed discussions with the FAA regarding required actions for resuming deliveries. Risk remains that these issues may continue to impact the timing of airplane deliveries in inventory and/or our ability to achieve planned production rates. Revenues, earnings and cash flows will continue to be impacted until we are able to resume timely deliveries. The long-term outlook for the industry remains positive due to the fundamental drivers of air travel demand: economic growth, increasing propensity to travel due to increased trade, globalization and improved airline services driven by liberalization of air traffic rights between countries. The shock from COVID-19 has reduced the near- to medium-term demand, but our Commercial Market Outlook forecast projects a 4% growth rate for passenger and cargo traffic over a 20 year period. Based on long-term global economic growth projections of 2.7% average annual gross domestic product (GDP) growth, we project demand for approximately 43,610 new airplanes over the next 20 years. The industry remains vulnerable to exogenous developments including fuel price spikes, credit market shocks, acts of terrorism, natural disasters, conflicts, epidemics, pandemics and increased global environmental regulations. At Global Services (BGS), while the outlook is improving, we are continuing to see a direct impact on our commercial supply chain business as fewer flights and more aircraft parked result in a decreased demand for our parts and logistics offerings. Additionally, our commercial customers are curtailing discretionary spending, such as modifications and upgrades and focusing on required maintenance. Similar to BCA, we expect a multi-year recovery period for the commercial services business. The demand outlook for our government services business remains stable; government services comprises approximately half of BGS revenue, which is unchanged from pre-pandemic levels. At Defense, Space & Security (BDS), we continue to see stable demand reflecting the important role our products and services have in ensuring our national security. Outside of the U.S., we are seeing similar solid demand as governments prioritize security, defense technology and global cooperation given evolving threats. However, we continue to experience near-term production disruptions and inefficiencies due to COVID-19 impacts. As a result of the war in Ukraine, we recorded earnings charges totaling $212 million during the first quarter of 2022, primarily related to asset impairments. We have temporarily closed our facilities in Ukraine and Russia and are focused on supporting our employees in those countries. We have also suspended our business in Russia, including parts, maintenance and technical support for Russian airlines, and purchases from Russian suppliers. We are complying with U.S. and international sanctions and export control restrictions. We have sufficient material and parts to avoid production disruptions in the near-term, but future impacts to our production from disruptions in our supply chain are possible. The war in Ukraine is also impacting our airline and lessor customers. We are closely monitoring developments and potential Boeing impacts, and will continue to take mitigating actions as appropriate. In addition, we and our suppliers are experiencing supply chain disruptions as a result of the impacts of COVID-19, global supply chain constraints, and labor shortages. We and our suppliers are also experiencing inflationary pressures. We continue to monitor the health and stability of the supply chain as we ramp up production. These measures and disruptions have reduced overall productivity and adversely impacted our financial position, results of operations and cash flows. We continue to transform and improve our business processes. These activities are not intended to constrain our capacity but to enable the Company to emerge stronger and be more resilient when the market recovers. We expect that successful execution of these measures will improve near-term liquidity and long-term cost competitiveness. Revenues for the three months ended March 31, 2022 decreased by $1,226 million compared with the same period in 2021 driven by lower revenues at BCA and BDS, partially offset by higher revenues at BGS. BCA revenues decreased by $108 million primarily driven by lower wide-body deliveries, partially offset by higher 737 MAX deliveries. BDS revenues decreased by $1,702 million primarily due to net unfavorable effects of cumulative contract catch-up adjustments, lower revenue on the KC-46A Tanker program resulting from new orders for 27 aircraft received during the first quarter of 2021 and lower P-8 volume resulting from reduced production rates. BGS revenues increased by $565 million primarily due to higher commercial services volume. While commercial services volume is recovering, it remains below pre-pandemic levels. Revenues will continue to be significantly impacted until the global supply chain stabilizes, labor shortages diminish, deliveries ramp up, and commercial airlines recover from the impacts of COVID-19. Loss From Operations The FAS/CAS service cost adjustment represents the difference between the FAS pension and postretirement service costs calculated under GAAP and costs allocated to the business segments. ** Core operating earnings/(loss) is a Non-GAAP measure that excludes the FAS/CAS service cost adjustment. See pages 48-49. Loss from operations for the three months ended March 31, 2022 increased by $1,086 million compared with the same period in 2021. BDS loss from operations for the three months ended March 31, 2022 was $929 million, compared with earnings from operations of $405 million during the same period in 2021, primarily due to charges on the VC-25B, T-7A Red Hawk, KC-46A Tanker, and MQ-25 programs in the first quarter of 2022. BGS earnings from operations increased by $191 million primarily due to higher commercial services volume and favorable mix. Core operating losses for the three months ended March 31, 2022 increased by $1,099 million compared to the same period in 2021, primarily due to changes in Segment operating (loss)/earnings as described above. For discussion related to Postretirement Plans, see Note 11 to our Condensed Consolidated Financial Statements. Total Costs and Expenses ("Cost of Sales") Cost of sales, for both products and services, consists primarily of raw materials, parts, sub-assemblies, labor, overhead and subcontracting costs. Our BCA segment predominantly uses program accounting to account for cost of sales. Under program accounting, cost of sales for each commercial airplane program equals the product of (i) revenue recognized in connection with customer deliveries and (ii) the estimated cost of sales percentage applicable to the total remaining program. For long-term contracts, the amount reported as cost of sales is recognized as incurred. Substantially all contracts at our BDS segment and certain contracts at our BGS segment are long-term contracts with the U.S. government and other customers that generally extend over several years. Costs on these contracts are recorded as incurred. Cost of sales for commercial spare parts is recorded at average cost. Additional Considerations Global Trade We continually monitor the global trade environment in response to geopolitical economic developments, as well as changes in tariffs, trade agreements, or sanctions that may impact the Company. The global economy continues to experience significant adverse impacts due to the COVID-19 pandemic, including a decline in overall trade in general and in aerospace in particular. There is a great deal of uncertainty regarding the duration, scale, and localization of these impacts to the global economy and governments are enacting a wide range of responses to mitigate the unfolding economic impacts. We are closely monitoring the current impact and potential future economic consequences of COVID-19 to the global economy, the aerospace sector, and our Company. These adverse economic impacts have resulted in fewer orders than previously anticipated for our commercial aircraft. The current state of U.S.-China relations remains a significant watch item. China is a very significant market for commercial airplanes and represents a significant component of our commercial airplanes backlog. Since 2018, the U.S. and China imposed an escalating series of tariffs on each other's imports. Certain aircraft parts and components that Boeing procures are subject to these tariffs. The U.S. and China entered into a Phase I agreement in January 2020. However, as of the December 31, 2021 deadline, implementation of this agreement is incomplete and overall diplomatic relations between the U.S. and China have deteriorated. We continue monitoring developments for potential adverse impacts to the Company. Beginning in June 2018, the U.S. Government has imposed tariffs on steel and aluminum imports. In response to these tariffs, several major U.S. trading partners have imposed, or announced their intention to impose, tariffs on U.S. goods. In May 2019, the U.S. Government, Mexico and Canada reached an agreement to end the steel and aluminum tariffs between these countries. Implementation of the U.S./Mexico/Canada Free Trade Agreement (USMCA) will also result in lower tariffs. The U.S. Government has also reached agreements to ease steel and/or aluminum tariffs with the United Kingdom, the European Union (EU) and Japan. We continue to monitor the potential for any extra costs that may result from the remaining global tariffs. We are complying with all U.S. and other government export control restrictions and sanctions imposed on certain businesses and individuals in Russia. We continue to monitor and evaluate additional sanctions and export restrictions that may be imposed by the U.S. Government or other governments, as well as any responses from Russia that could affect our supply chain, business partners or customers, for any additional impacts to our business. Segment Results of Operations and Financial Condition Commercial Airplanes Business Environment and Trends See Overview to Management's Discussion and Analysis of Financial Condition and Results of Operations for a discussion of the impacts of COVID-19 on the airline industry environment. Loss From Operations BCA loss from operations was $859 million for three months ended March 31, 2022 compared with $856 million in the same period in 2021. The 2022 loss reflects lower wide-body deliveries partially offset by higher 737 MAX deliveries. Period expense for the three months ended March 31, 2022 included abnormal production costs totaling $500 million including $312 million related to the 787 program and $188 million related to 737 MAX. Period expense for abnormal production costs for the three months ended March 31, 2021 comprised of $568 million related to 737 MAX. Period expenses in the first quarter of 2022 were also higher due to charges related to the war in Ukraine and higher research and development spending. Backlog Our total backlog represents the estimated transaction prices on unsatisfied and partially satisfied performance obligations to our customers where we believe it is probable that we will collect the consideration due and where no contingencies remain before we and the customer are required to perform. Backlog does not include prospective orders where customer controlled contingencies remain, such as the customer receiving approval from its board of directors, shareholders or government or completing financing arrangements. All such contingencies must be satisfied or have expired prior to recording a new firm order even if satisfying such conditions is highly certain. Backlog excludes options and Boeing Capital (BCC) orders as well as orders where customers have the unilateral right to terminate. A number of our customers may have contractual remedies, including rights to reject individual airplane deliveries if the actual delivery date is significantly later than the contractual delivery date. We address customer claims and requests for other contractual relief as they arise. The value of orders in backlog is adjusted as changes to price and schedule are agreed to with customers and is reported in accordance with the requirements of ASC 606. BCA total backlog decreased from $296,882 million as of December 31, 2021 to $290,930 million at March 31, 2022 reflecting an increase in the number of existing orders that in our assessment do not meet the accounting requirements of ASC 606 for inclusion in backlog and order cancellations, partially offset by new orders in excess of deliveries. The net ASC 606 adjustments for the three months ended March 31, 2022 resulted in a decrease to backlog of $12,737 million primarily due to 737 MAX and 777X aircraft, partially offset by 787 aircraft. ASC 606 adjustments include consideration of aircraft orders where a customer controlled contingency may exist, as well as an assessment of whether the customer is committed to perform, impacts of geopolitical events or related sanctions, or whether it is probable that the customer will pay the full amount of consideration when it is due. If 787 aircraft deliveries continue to be paused, we are unable to ramp up deliveries of 737 MAX aircraft, and/or if entry into service of the 777X, 737 MAX 7 and/or 737 MAX 10 is further delayed, we may experience additional reductions to backlog and/or significant order cancellations. Additionally, we may continue to experience fewer new orders and increased cancellations across all of our commercial airplane programs as a result the COVID-19 pandemic and associated impacts on demand. Accounting Quantity The following table provides details of the accounting quantities and firm orders by program. Cumulative firm orders represent the cumulative number of commercial jet aircraft deliveries plus undelivered firm orders. Firm orders include military derivative aircraft that are not included in program accounting quantities. All revenues and costs associated with military derivative aircraft production are reported in the BDS segment. Program Highlights 737 Program The accounting quantity for the 737 program increased by 400 units during the three months ended March 31, 2022 due to the program's normal progress of obtaining additional orders and delivering airplanes. See further discussion of the 737 MAX in Note 9 to our Condensed Consolidated Financial Statements. 747 Program We are currently producing at a rate of 0.5 aircraft per month. We expect to complete production of the 747 in the fourth quarter of 2022. We believe that ending production of the 747 will not have a material impact on our financial position, results of operations or cash flows. 767 Program The accounting quantity for the 767 program increased by 12 units during the three months ended March 31, 2022 due to the program's normal progress of obtaining additional orders and delivering airplanes. The 767 assembly line includes the commercial program and a derivative to support the tanker program. The commercial program has near break-even gross margins. We are currently producing at a rate of 3 aircraft per month. 777 and 777X Programs During the first quarter of 2022, we launched the 777X-8 freighter with first delivery expected in 2027. The accounting quantity for the 777X program increased by 50 units during the three months ended March 31, 2022 reflecting the launch of the 777X-8 freighter. During the first quarter of 2022, we revised the estimated first delivery date of the 777X-9, previously expected in late 2023, and now expect it will occur in 2025, based on an updated assessment of the time required to meet certification requirements. We are working towards Type Inspection Authorization (TIA) which will enable us to begin FAA certification flight testing. The timing of TIA and certification will ultimately be determined by the regulators, and further determinations with respect to anticipated certification requirements could result in additional delays in entry into service and/or additional cost increases. In April 2022, we decided to pause production of the 777X-9 during 2022 and 2023. We expect that the production pause will result in abnormal production costs of approximately $1.5 billion beginning in the second quarter of 2022 and continue until 777X-9 production resumes. The 777X program has near break-even gross margins at March 31, 2022. The level of profitability on the 777X program will be subject to a number of factors. These factors include continued market uncertainty, the impacts of COVID-19 on our production system as well as impacts on our supply chain and customers, customer negotiations, further production rate adjustments for the 777X or other commercial aircraft programs, contraction of the accounting quantity and potential risks associated with the testing program and the timing of aircraft certification. One or more of these factors could result in additional reach-forward losses on the 777X program in future periods. The accounting quantity for the 777 program increased by 30 units during the three months ended March 31, 2022 due to the program's normal progress of obtaining additional orders and delivering airplanes. The production rate for the combined 777/777X program is expected to increase from 2 per month to 3 per month in the second half of 2022. 787 Program At March 31, 2022 we have approximately 115 aircraft in inventory. Deliveries remain paused due to production quality issues. We continue to conduct inspections and rework on undelivered aircraft and engage in detailed discussions with the FAA regarding required actions for resuming delivery of the 787. We are currently producing at very low rates and expect that to continue until deliveries resume, gradually returning to 5 per month over time. In the third quarter of 2021, we determined that in the current environment production rates below 5 per month represent abnormally low production rates and result in abnormal production costs, and that inspections and rework costs on inventoried aircraft are excessive and should also be accounted for as abnormal production costs that are required to be expensed as incurred. As a result of these impacts, we continue to expect to incur approximately $2 billion of abnormal production costs on a cumulative basis with most being incurred by the end of 2023. We continue to work with customers and suppliers regarding timing of future deliveries and production rate changes. We are also continuing to implement changes in the production process designed to ensure that newly-built airplanes meet our specifications and do not require further inspections and rework. During the fourth quarter of 2021, we recorded a loss of $3.5 billion on the program primarily due to the additional rework, as well as other actions required to resume 787 deliveries, taking longer than expected. These impacts have resulted in longer than expected delivery delays and associated customer considerations. The timing of the resumption of deliveries and future production rates will depend upon rework, ongoing customer and supplier engagement, production stability and our activities with the FAA. China is a significant market for the 787 program, and if the program is unable to obtain additional orders from China in future quarters, we may be required to further adjust production rate assumptions. If we are required to further reduce the accounting quantity and/or production rates, experience further delivery delays or experience other factors that result in lower margins, the program could record additional losses and higher abnormal production costs in future periods. Contingent Obligations We have significant contingent obligations that arise in the ordinary course of business, which include the following: Legal Various legal proceedings, claims and investigations are pending against us. Legal contingencies are discussed in Note 16 to our Condensed Consolidated Financial Statements. Environmental Remediation We are involved with various environmental remediation activities and have recorded a liability of $653 million at March 31, 2022. For additional information, see Note 9 to our Condensed Consolidated Financial Statements. Non-GAAP Measures Core Operating Earnings, Core Operating Margin and Core Earnings Per Share Our unaudited condensed consolidated interim financial statements are prepared in accordance with Generally Accepted Accounting Principles in the United States of America (GAAP) which we supplement with certain non-GAAP financial information. These non-GAAP measures should not be considered in isolation or as a substitute for the related GAAP measures, and other companies may define such measures differently. We encourage investors to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. Core operating earnings, core operating margin and core earnings per share exclude the FAS/CAS service cost adjustment. The FAS/CAS service cost adjustment represents the difference between the FAS pension and postretirement service costs calculated under GAAP and costs allocated to the business segments. Core earnings per share excludes both the FAS/CAS service cost adjustment and non-operating pension and postretirement expenses. Non-operating pension and postretirement expenses represent the components of net periodic benefit costs other than service cost. Pension costs, comprising service and prior service costs computed in accordance with GAAP are allocated to BCA and certain BGS businesses supporting commercial customers. Pension costs allocated to BDS and BGS businesses supporting government customers are computed in accordance with U.S. Government Cost Accounting Standards (CAS), which employ different actuarial assumptions and accounting conventions than GAAP. CAS costs are allocable to government contracts. Other postretirement benefit costs are allocated to all business segments based on CAS, which is generally based on benefits paid. The Pension FAS/CAS service cost adjustments recognized in Loss from operations were benefits of $208 million and $193 million for the three months ended March 31, 2022 and 2021. The higher benefits in 2022 were primarily due to increases in allocated pension cost year over year. The non-operating pension expenses included in Other income, net were benefits of $220 million and $177 million for the three months ended March 31, 2022 and 2021. The higher benefits for the three months ended March 31, 2022 were primarily due to lower amortization of actuarial losses, partially offset by higher interest cost and lower expected return on plan assets. For further discussion of pension and other postretirement costs see the Management's Discussion and Analysis on page 36 of this Form 10-Q and on page 29 of our 2021 Annual Report on Form 10-K. Management uses core operating earnings, core operating margin and core earnings per share for purposes of evaluating and forecasting underlying business performance. Management believes these core earnings measures provide investors additional insights into operational performance as unallocated pension and other postretirement benefit costs primarily represent costs driven by market factors and costs not allocable to U.S. government contracts. Mar 31, 2022: Lockheed Martin Sikorsky-Boeing Adds to Team DEFIANT WASHINGTON, D.C., March 31, 2022 - Sikorsky, a Lockheed Martin Company (NYSE: LMT), and Boeing (NYSE: BA) announced six new members of Team DEFIANT. These supplier teammates will join the team to support DEFIANT X(Registered), the advanced helicopter for the U.S. Army's Future Long-Range Assault Aircraft (FLRAA) competition. Source: Company Website Mar 30, 2022: Boeing Debuts High-Throughput Small Satellite Production Facility EL SEGUNDO, Calif., March 30, 2022- Boeing (NYSE: BA) unveiled a new high-throughput small satellite production, integration and test facility designed for efficiency and rapid delivery timelines. Housed in the world's largest satellite factory, Boeing's 1-million-square-foot El Segundo facility (92,903 square meters), the small satellite production line will be powered by Boeing subsidiary, Millennium Space Systems. "Boeing and Millennium are bringing together Boeing's production expertise, domain knowledge, and manufacturing capacity with Millennium's agility and rapid prototyping," said Jim Chilton, senior vice president of Boeing Space and Launch. "We're scaling and growing to fulfill our customers' vision for multi-orbit constellations with demand across markets and mission sets." The companies are applying advanced and additive manufacturing techniques, including 3D printing entire space-qualified satellite buses, to offer faster cycle times while improving performance. Source: Company Website Mar 29, 2022: The Invictus Games Foundation Welcomes Boeing as Official Partner LONDON, March 29, 2022 - The Invictus Games Foundation is pleased to welcome Boeing [NYSE: B.A.] as Official Partner in a multi-year agreement supporting international wounded, injured and sick service personnel and veterans. Boeing is also announced as Premier Partner to the upcoming Invictus Games The Hague 2020, presented by Jaguar Land Rover, and to the Invictus Games Dusseldorf 2023. "We are very grateful for the long-term support of Boeing for the Invictus Games movement. This builds upon their sponsorship of the Invictus Games Sydney 2018 and now extends to a multi-year Games partnership agreement in a first for the Foundation," said Invictus Games Foundation CEO Dominic Reid. "Our work supporting international wounded, injured and sick servicemen and women through sport is only made possible by partners such as Boeing, which has committed to long term support for veterans and their wider community." The partnership will provide funding for the Foundation to continue to inspire the recovery of international wounded, injured and sick veterans and service personnel through the power of sports, esports and adventurous challenges. In particular, this extends to the work of the Foundation beyond the Games, to improve ongoing access to recovery and rehabilitation programs, including Invictus Endeavours, and will allow the Foundation to develop best practices and research to support the international veterans community. Source: Company Website Mar 28, 2022: Boeing Statement on China Eastern Airlines Flight MU 5735 CHICAGO, March 26, 2022 - Boeing today released the following statement: "We extend our deepest condolences for the loss of those on board China Eastern Airlines Flight MU 5735. Our thoughts and prayers are with the passengers and crew, their families and all those affected by this accident. Boeing will continue to support our airline customer during this difficult time. In addition, a Boeing technical team is supporting the NTSB and the Civil Aviation Administration of China who will lead the investigation." Source: Company Website Mar 25, 2022: Boeing and Airbus Helicopters Sign Strategic H-47 Chinook Partnership to Support Germany's STH Requirements PHILADELPHIA, March 25, 2022 - Boeing [NYSE: BA] and Airbus Helicopters today signed a Memorandum of Understanding (MOU) to partner on the H-47 Chinook in support of Germany's Schwerer Transporthubschrauber (STH) heavy-lift helicopter requirements. "We are pleased that Airbus Helicopters has joined our team of strategic partners on the H-47 Chinook program for Germany, and together we will provide the strongest offering to the Bundeswehr," said Mark Cherry, Boeing vice president and general manager, Vertical Lift programs. "The Chinook has been the preferred heavy-lift helicopter in Europe for decades and a cornerstone for a multitude of NATO operations. It is the only heavy-lift helicopter capable of providing Germany immediate interoperability with allied nations and is significantly more powerful, versatile and agile than any other aircraft in its class." The new partnership between Boeing and Airbus aims at bolstering German defense readiness while supporting German industry and economic growth. The partnership will draw on the strengths and combined expertise of the world's leading aerospace companies to deliver advanced capability, readiness and innovative solutions as part of the German Chinook industry offering. "Building on decades of experience as a partner of the Bundeswehr, Airbus Helicopters is excited to join Boeing's Chinook Germany industry team and to partner with Boeing on delivering maximum operational availability to the Bundeswehr," said Wolfgang Schoder, general manager of Airbus Helicopters in Germany. "The H-47 Chinook is a proven, mature program in service with many of our allies, and is the optimum solution for Germany with an excellent price-performance ratio." The partnership agreement builds on the existing Chinook partnership team consisting of AERO-Bildung GmbH, CAE GmbH, ESG Elektroniksystem- und Logistik-GmbH, Lufthansa Technik AG, Honeywell Aerospace and Rolls-Royce Deutschland Ltd. & Co. KG.Boeing is committed to working with German industry on aircraft sustainment, including post-delivery modifications and installations, aircraft maintenance, supply chain services, training and logistical support, as well as the potential for sub-systems Maintenance Repair and Overhaul work. Source: Company Website Mar 25, 2022: Boeing and Airbus Helicopters Sign Strategic H-47 Chinook Partnership to Support Germany's STH Requirements Partnership aimed at enhancing German defense readiness while serving the country's security needs for decades to come German H-47 Chinook industry team will deliver maximum operational availability and lowest costs over the entire lifecycle of a potential German H-47 fleet PHILADELPHIA, March 25, 2022 - Boeing [NYSE: BA] and Airbus Helicopters today signed a Memorandum of Understanding (MOU) to partner on the H-47 Chinook in support of Germany's Schwerer Transporthubschrauber (STH) heavy-lift helicopter requirements. "We are pleased that Airbus Helicopters has joined our team of strategic partners on the H-47 Chinook program for Germany, and together we will provide the strongest offering to the Bundeswehr," said Mark Cherry, Boeing vice president and general manager, Vertical Lift programs. "The Chinook has been the preferred heavy-lift helicopter in Europe for decades and a cornerstone for a multitude of NATO operations. It is the only heavy-lift helicopter capable of providing Germany immediate interoperability with allied nations and is significantly more powerful, versatile and agile than any other aircraft in its class." The new partnership between Boeing and Airbus aims at bolstering German defense readiness while supporting German industry and economic growth. The partnership will draw on the strengths and combined expertise of the world's leading aerospace companies to deliver advanced capability, readiness and innovative solutions as part of the German Chinook industry offering. "Building on decades of experience as a partner of the Bundeswehr, Airbus Helicopters is excited to join Boeing's Chinook Germany industry team and to partner with Boeing on delivering maximum operational availability to the Bundeswehr," said Wolfgang Schoder, general manager of Airbus Helicopters in Germany. "The H-47 Chinook is a proven, mature program in service with many of our allies, and is the optimum solution for Germany with an excellent price-performance ratio." The partnership agreement builds on the existing Chinook partnership team consisting of AERO-Bildung GmbH, CAE GmbH, ESG Elektroniksystem- und Logistik-GmbH, Lufthansa Technik AG, Honeywell Aerospace and Rolls-Royce Deutschland Ltd. & Co. KG.Boeing is committed to working with German industry on aircraft sustainment, including post-delivery modifications and installations, aircraft maintenance, supply chain services, training and logistical support, as well as the potential for sub-systems Maintenance Repair and Overhaul work. "The partnership with Airbus Helicopters reaffirms our commitment to strengthen cooperation with German industry," said Dr. Michael Haidinger, president, Boeing Germany. "With our Chinook offering and together with our German industry partners, we will create more than 500 highly skilled jobs in-country, all in direct support of the Bundeswehr's heavy-lift mission requirements." As chosen by eight NATO nations - Netherlands, Italy, Greece, Spain, Turkey, United Kingdom, Canada and the United States of America - the Chinook has proven its unique capabilities and mission readiness in multiple theatres and has delivered on many other mission requirements, including air-to-air refueling, medevac, troop transport, search and rescue and humanitarian and disaster relief, and special operations. Chinook air-to-air refueling operations have spanned the globe and the number of tanker hook ups, behind a variety of tanker aircraft, is estimated to be in the tens of thousands. Source: Company Website Mar 21, 2022: Boeing's Australian-Produced Uncrewed Aircraft to be Named 'MQ-28A Ghost Bat' AUSTRALIA, March 21, 2022 - Boeing [NYSE:BA] Australia congratulates the Australian Government and Royal Australian Air Force (RAAF) on their selection of 'MQ-28A Ghost Bat' as the military designator and name for the first Australian-produced military combat aircraft in over 50 years. Australia's Defence Minister, the Hon Peter Dutton MP, announced the designator and name at a dedicated ceremony held at RAAF Base Amberley, Queensland. "The introduction of the new popular name is a rare and special moment in aviation history for our RAAF partners and industry team of over 35 Australian suppliers," said Glen Ferguson, director Airpower Teaming System Australia and International. "Selecting the Ghost Bat, an Australian native mammal known for teaming together in a pack to detect and hunt, reflects the unique characteristics of the aircraft's sensors and Intelligence, Surveillance and Reconnaissance abilities, and is a fitting name for this pioneering capability," said Ferguson. With a rapid development timetable of just three years from ideation to first flight, the development program leverages advancements in digital engineering, advanced manufacturing and unique Australian supply chain technologies. Source: Company Website Mar 17, 2022: Boeing Begins Build on New Zealand's First P-8A Aircraft WICHITA, Kan., March 17, 2022 -Boeing [NYSE: BA] P-8A team members and Spirit AeroSystems employees have laid the keel beam for New Zealand's first P-8A. This process, also called 'keeling,' was done at the Spirit AeroSystems facility where all Boeing 737 fuselages, nacelles and pylons are designed and built. Laying the keel is an important production milestone during the build of any ship or aircraft and represents the cornerstone of this latest P-8. Rosemary Banks, New Zealand's ambassador to the United States, who was on hand to witness the keeling said, "Today's keeling ceremony is the beginning of a new era for New Zealand's maritime patrol and response capability. Our four P-8A Poseidons will better equip our defence forces to extend their reach into the Pacific and beyond, working with our partners and friends." An aircraft keel runs the length of the fuselage belly. Due to the innovative in-line approach to the build of commercial derivative aircraft pioneered on the P-8A, the keel beam on a P-8 is different from the typical 737 keel beam. The P-8 keel includes unique aspects of the P-8 configuration, such as the integration of an internal weapons bay. "The excitement of seeing this come together was contagious," said Brian Stuart, P-8 program manager for New Zealand. "Not only are we kicking off the journey to the first New Zealand P-8A delivery, but we are strengthening our relationships with suppliers like Spirit as well as our U.S. Navy and Royal New Zealand Air Force customers." The panel and other fuselage components will be completed on Spirit's existing 737 production line. Spirit will ship the P-8A fuselage to a Boeing Commercial Airplanes facility in Renton, Washington for final assembly. After that, Boeing Defense, Space & Security employees will install mission systems and complete testing prior to delivery to New Zealand later this year. In total, four Boeing P-8A Poseidon maritime patrol aircraft will eventually replace New Zealand's current fleet of six aging P-3K2 Orion aircraft providing advanced capabilities to maintain situational awareness in neighboring waters on and below the surface of the ocean. The New Zealand Defence Force is a P-8 foreign military sales customer and is one of eight global customers. Current P-8 operators include the U.S. Navy, the Royal Australian Air Force, the Indian Navy, United Kingdom's Royal Air Force and Norway's Royal Norwegian Air Force. To date, the global operating P-8 fleet has amassed more than 400,000 mishap-free flight hours. The P-8 is a long-range anti-submarine warfare, anti-surface warfare, intelligence, surveillance and reconnaissance aircraft capable of broad-area, maritime and littoral operations. In addition, the P-8 performs humanitarian and search and rescue missions around the globe. Source: Company Website Mar 16, 2022: U.S. Space Force, Boeing Complete Protected Tactical SATCOM Prototype Critical Design Review The rapid prototype program, executed in collaboration with Boeing subsidiary Millennium Space Systems, will provide high levels of protection for U.S. and allied satellite communications PTS-P will be first space-based hub of the U.S. military's jam-resistant waveform, Protected Tactical Waveform (PTW) EL SEGUNDO, Calif., March 16, 2022 - The U.S. Space Force's Space Systems Command (SSC) and Boeing [NYSE: BA] recently completed a critical design review for the Protected Tactical SATCOM Prototype (PTS-P), validating Boeing's technical maturity on the rapid-prototyping program. "We're making great progress on this pacesetter program," said Lt. Col. Ryan Rose, SSC's Tactical SATCOM Division deputy chief. "We've asked all industry partners to move fast - to build, iterate, demonstrate, and improve performance, so we can deploy much faster than we typically would. This design review demonstrates we're on track to deliver new communication capabilities to the warfighter." Boeing's PTS-P features an on-board processor of the U.S. military's jam-resistant Protected Tactical Waveform (PTW), providing users in-theater anti-jam capability with network routing that exceeds objective requirements. Scheduled for on-orbit demonstration after a 2024 launch, the prototype payload showcases PTS-P's improved stand-off distance performance, reduced latency, and other mission-enabling capabilities that enable the warfighter in a modern battlefield. Host vehicle integration and testing will begin next year. Boeing is leveraging its expertise in model-based systems engineering and digital engineering to design an agile, scalable and flexible solution to meet the warfighter's ever-emerging needs. Millennium Space Systems strengthens the team with rapid prototyping and demonstrations in a fully-integrated and streamlined execution approach. "The Space Force's incremental demonstration approach is allowing us to bring capabilities rapidly to the warfighter while mitigating risk for future technology developments," said Troy Dawson, Government Satellite Systems vice president at Boeing. "We're investing across our satellite portfolio to deliver the most advanced solutions to our customers. Our scalable software-defined payload will be able to accommodate and grow to meet the needs of any mission, and it can be hosted on commercial or government platforms." To date, the Boeing team has completed several capability demonstrations and design reviews, including validating interoperability with government-furnished Protected Anti-Jam Tactical SATCOM (PATS) hardware and software components. Source: Company Website Mar 16, 2022: Boeing Begins Build on New Zealand's First P-8A Aircraft EL SEGUNDO, Calif., March 16, 2022 - The U.S. Space Force's Space Systems Command (SSC) and Boeing [NYSE: BA] recently completed a critical design review for the Protected Tactical SATCOM Prototype (PTS-P), validating Boeing's technical maturity on the rapid-prototyping program. "We're making great progress on this pacesetter program," said Lt. Col. Ryan Rose, SSC's Tactical SATCOM Division deputy chief. "We've asked all industry partners to move fast - to build, iterate, demonstrate, and improve performance, so we can deploy much faster than we typically would. This design review demonstrates we're on track to deliver new communication capabilities to the warfighter." Boeing's PTS-P features an on-board processor of the U.S. military's jam-resistant Protected Tactical Waveform (PTW), providing users in-theater anti-jam capability with network routing that exceeds objective requirements. Scheduled for on-orbit demonstration after a 2024 launch, the prototype payload showcases PTS-P's improved stand-off distance performance, reduced latency, and other mission-enabling capabilities that enable the warfighter in a modern battlefield. Host vehicle integration and testing will begin next year. Boeing is leveraging its expertise in model-based systems engineering and digital engineering to design an agile, scalable and flexible solution to meet the warfighter's ever-emerging needs. Millennium Space Systems strengthens the team with rapid prototyping and demonstrations in a fully-integrated and streamlined execution approach. Source: Company Website Mar 14, 2022: Arajet, New Airline in Caribbean, Orders 20 737 MAX Jets SANTO DOMINGO, Dominican Republic, March 14, 2022 /PRNewswire/ -- Boeing [NYSE: BA] and Arajet announced today the new Caribbean airline has ordered 20 737 MAX airplanes, specifically the high-capacity 737-8-200 model, to deliver low operating costs and expand affordable travel options in the Americas. Arajet also has options to purchase 15 additional 737 MAX jets which, along with existing lease agreements, could take the airline's new fuel-efficient fleet to 40 airplanes. The aircraft order was finalized in January and is currently attributed to an unidentified customer on Boeing's Orders and Deliveries website. "The efficient Boeing 737 MAX, together with financial and operational support from our partners at Griffin and Bain Capital, gives us the solid foundation necessary to provide flights at affordable prices to travelers in the region," said Victor Pacheco Mendez, founder and executive officer of Arajet. "These partners believe in our vision and see the same bright future for this market and beyond. The entire team was elated to see our first aircraft arrive in Santo Domingo a few days ago, and we are eager to expand our fleet with more of these amazing jets in the months ahead." The airline hosted a launch event today at its new hub in Santo Domingo, Dominican Republic. Positioned between North and South America, this location in the Caribbean will leverage the range of the 737 MAX to efficiently serve a large number of traditional and underserved markets in the continental United States, Brazil, Colombia and beyond. The 737 MAX can fly further and uses 20% less fuel than prior generation aircraft. Other key benefits of Arajet's new fleet include better environmental performance with a 40% reduction in community noise and lower emissions. Source: Company Website Mar 14, 2022: Boeing: Arajet, New Airline in Caribbean, Orders 20 737 MAX Jets Aircraft commitments include firm order, options and lease agreements for up to 40 jets - Carrier launches in Santo Domingo, Dominican Republic, to operate all-737 MAX fleet SANTO DOMINGO, Dominican Republic, March 14, 2022 /PRNewswire/ -- Boeing [NYSE: BA] and Arajet announced today the new Caribbean airline has ordered 20 737 MAX airplanes, specifically the high-capacity 737-8-200 model, to deliver low operating costs and expand affordable travel options in the Americas. Arajet also has options to purchase 15 additional 737 MAX jets which, along with existing lease agreements, could take the airline's new fuel-efficient fleet to 40 airplanes. The aircraft order was finalized in January and is currently attributed to an unidentified customer on Boeing's Orders and Deliveries website. "The efficient Boeing 737 MAX, together with financial and operational support from our partners at Griffin and Bain Capital, gives us the solid foundation necessary to provide flights at affordable prices to travelers in the region," said Victor Pacheco Mendez, founder and executive officer of Arajet. "These partners believe in our vision and see the same bright future for this market and beyond. The entire team was elated to see our first aircraft arrive in Santo Domingo a few days ago, and we are eager to expand our fleet with more of these amazing jets in the months ahead." The airline hosted a launch event today at its new hub in Santo Domingo, Dominican Republic. Positioned between North and South America, this location in the Caribbean will leverage the range of the 737 MAX to efficiently serve a large number of traditional and underserved markets in the continental United States, Brazil, Colombia and beyond. The 737 MAX can fly further and uses 20% less fuel than prior generation aircraft. Other key benefits of Arajet's new fleet include better environmental performance with a 40% reduction in community noise and lower emissions. Arajet's first jet, a 737-8 leased from Griffin Global Asset Management, was delivered in early March. The jet was toured today by Dominican President Luis Abinader, who attended the launch event, along with industry, government and tourism officials. As travel and tourism recovers globally, Arajet will bring approximately 4,000 new jobs and significant new economic development to the island nation. Tourism makes up 8.4% of the Dominican Republic's GDP. "The 737 MAX is the perfect fit for Arajet and it's an honor to welcome this exciting new operator to the Boeing family," said Mike Wilson, vice president of sales, Latin America & Caribbean, Boeing Commercial Airplanes. "Flying an exclusive 737 MAX fleet will enable Arajet to save on fuel, maintenance and operations costs, and pass those savings on to its customers." Source: Company Website Mar 08, 2022: Boeing and Ethiopian Airlines Sign Memorandum of Understanding for New 777-8 Freighter "Consistent with our history of aviation technology leadership in Africa, we are pleased to sign this MoU with our longstanding partner Boeing, which will make us join select group of launch customer airlines for the fleet. In our vision 2035, we are planning to expand our Cargo and Logistics business to be one of the largest global multimodal logistics provider in all continents. To this effect we are increasing our dedicated freighter fleet with the latest technology, fuel efficient and environment-friendly airplanes of the 21st century. We have also started the construction of the largest E-commerce Hub Terminal in Africa," said Ethiopian Airlines' Group CEO Tewolde Gebremariam. "The new 777-8 Freighters will be instrumental in this long journey of growth agenda. Today, our air cargo services cover more than 120 international destinations around the world with both belly-hold capacity and dedicated freighter services." Source: Company Website Mar 08, 2022: Boeing: DHL Express Places New Order for Six Additional 777 Freighters SEATTLE, March 8, 2022 /PRNewswire/ -- DHL Express and Boeing [NYSE: BA] today announced that the world-leading express service provider has placed an order for six additional 777 Freighters. The purchase takes DHL Express' order book total to 28 777 Freighters since it placed its first direct order in 2018 for today's largest and most capable twin-engine freighter. "With the order of six new, large widebody freighter aircraft, we continue to invest in our future and further enhance the capability and reach of our global air network. The Boeing 777 Freighter is the most fuel-efficient aircraft in its class and will connect DHL's global hubs in Cincinnati, Leipzig and Hong Kong as well as serving other key markets," said Geoff Kehr, senior vice president, Global Air Fleet Management, DHL Express. "We are committed to providing the highest quality and efficient services to our customers while at the same time lowering our carbon emissions by modernizing our fleet with the most efficient aircraft type available. The new aircraft will significantly contribute to our aspiration to reduce our greenhouse gas emissions to under 29 million tons by 2030." The 777 Freighter improves fuel efficiency and reduces CO2 emissions by 17% compared to legacy airplanes. DHL Express has taken delivery of 15 777 Freighters to date. Source: Company Website Mar 04, 2022: Etihad Airways Adopts Boeing Digital Solution to Further Optimize 787 Fleet Efficiency DUBAI, March 4, 2022-Boeing (NYSE: BA) has been selected to provide Etihad Airways with the Jeppesen FliteDeck Advisor digital solution for the carrier's 787 Dreamliner fleet to optimize operational efficiency and reduce fuel consumption. Etihad has already found benefits from the use of FliteDeck Advisor. During a trial on several of its 787 Dreamliners, the airline found that the digital solution delivered cruise fuel savings of 1.4%, saving an average of 350 kilograms of fuel and 1,100 kilograms of CO2 per flight. "We have been very pleased with the fuel and cost savings we have achieved with FliteDeck Advisor," said Sulaiman Yaqoobi, vice president of Flight Operations, Etihad Airways. "FliteDeck Advisor was tested as part of the Etihad Greenliner program, and it is great to now see it deployed across the 787 fleet, helping Etihad achieve efficiency gains and reduce CO2 emissions." Since 2019, Boeing and Etihad have collaborated on sustainability efforts centered on the airline's 787 Dreamliner fleet, including on Etihad's participation in Boeing's ecoDemonstrator program, where the FliteDeck Advisor solution was initially trialed. In 2021, the two companies renewed and expanded their sustainability alliance to focus on enhancing the efficiency of navigation and flight operations, airframe technologies and sustainable practices to reduce emissions. Jeppesen FliteDeck Advisor analyzes airplane-specific performance metrics for all Boeing aircraft, including changes over time with aircraft age and maintenance action. The tool enables flight crews to make small, real-time adjustments to their course, altitude, and speed to optimize fuel use and minimize the carbon footprint of each flight. Source: Company Website Mar 04, 2022: Boeing and Ethiopian Airlines Sign Memorandum of Understanding for New 777-8 Freighter SEATTLE, March 4, 2022 /PRNewswire/ -- Boeing (NYSE: BA) and its longstanding customer Ethiopian Airlines today announced the signing of a Memorandum of Understanding (MoU) with the intent to purchase five 777-8 Freighters, the industry's newest, most capable and most fuel-efficient twin-engine freighter. The MoU to order the 777-8 Freighter will enable Ethiopian Airlines to meet expanding global cargo demand from its hub in Addis Ababa and position the carrier for long-term sustainable growth. "Consistent with our history of aviation technology leadership in Africa, we are pleased to sign this MoU with our longstanding partner Boeing, which will make us join select group of launch customer airlines for the fleet. In our vision 2035, we are planning to expand our Cargo and Logistics business to be one of the largest global multimodal logistics provider in all continents. To this effect we are increasing our dedicated freighter fleet with the latest technology, fuel efficient and environment-friendly airplanes of the 21st century. We have also started the construction of the largest E-commerce Hub Terminal in Africa," said Ethiopian Airlines' Group CEO Tewolde Gebremariam. "The new 777-8 Freighters will be instrumental in this long journey of growth agenda. Today, our air cargo services cover more than 120 international destinations around the world with both belly-hold capacity and dedicated freighter services." Source: Company Website Mar 03, 2022: Boeing Commits US$2 Million to Support Humanitarian Response in Ukraine CHICAGO, March 3, 2022 /PRNewswire/ -- Boeing [NYSE: B.A.] today announced a US$2 million emergency assistance package to support humanitarian response efforts in Ukraine. The assistance package will be directed to organizations working to bring food, water, clothing, medicine and shelter to displaced Ukrainians - including those seeking refuge in neighboring countries. In addition, Boeing will match all qualifying employee contributions made in support of Ukrainian humanitarian relief through the company's charitable matching program. "The conflict unfolding in Ukraine is leading to a significant humanitarian emergency, and Boeing will take action to support the Ukrainian people," said Dave Calhoun, Boeing president and CEO. "Our thoughts are with all those who have been thrust into the midst of this crisis. While we work to ensure the safety of Boeing employees in the region, our hope is that this assistance package will help deliver some much-needed support to those who are displaced and suffering." Source: Company Website Mar 03, 2022: Boeing Secures Order for Additional MH-47G Block II Chinook Helicopters from U.S. Army PHILADELPHIA, March 3, 2022 - Boeing [NYSE: BA] extends its partnership with the U.S. Army Special Operations Aviation Command (USASOAC) with an order for six additional MH-47G Block II Chinook helicopters. The award, valued at $195 million, brings the total number of MH-47G Block II aircraft under contract with the USASOAC to 36. The upgraded MH-47G Block II Chinook features improved structure and weight reduction initiatives that increase the aircraft's performance and efficiency, allowing for extended lift and range. "We're answering the USASOAC's call to modernize its fleet of heavy-lift helicopters," said Andy Builta vice president, Cargo programs and H-47 program manager. "With this upgrade, new advances in technology enable the proven Chinook to meet evolving threats and ever-changing mission requirements." Boeing has delivered five MH-47G Block II aircraft to date. Deliveries of the new order are scheduled to begin in 2024, with production to primarily take place at Boeing's Philadelphia site. Source: Company Website Mar 03, 2022: Boeing Features Its Advanced Defense and Services Capabilities at DefExpo 2022 New Delhi, March 3, 2022 - Boeing [NYSE: BA] will feature its range of advanced defense capabilities for India at DefExpo 2022, including the F/A-18 Super Hornet Block III, F-15EX, P-8I, AH-64E Apache, and the CH-47F Chinook. Boeing will also outline its investments in services infrastructure, building of local capabilities, workforce training and partnerships in India that are aimed at ensuring the Indian armed forces are always mission-ready, and operate their assets at peak condition. Source: Company Website Mar 01, 2022: Indian Navy Expands Fleet with Delivery of 12th P-8I The P-8I is an integral part of the Indian Navy's fleet and has surpassed 35,000 flight hours since it was inducted in 2013. The aircraft, with its exceptional maritime surveillance and reconnaissance capabilities, versatility and operational readiness, has proven to be an important asset to the Navy. In addition to unmatched maritime reconnaissance and anti-submarine warfare capabilities, the P-8I has been deployed to assist during disaster relief and humanitarian missions. Source: Company Website Feb 24, 2022: Boeing: Indian Navy Expands Fleet with Delivery of 12th P-8I NEW DELHI, Feb. 24, 2022 - Boeing [NYSE:BA] delivered the 12th P-8I maritime patrol aircraft to India, on February 19. This is the fourth of four additional aircraft delivered under the options contract signed by the Ministry of Defence in 2016. "Customer centricity, commitment to the modernization and mission-readiness of India's defence forces are key values to our partnership with India," said Surendra Ahuja, managing director, Boeing Defence India. "With this delivery of the P-8I maritime patrol aircraft, we continue to nurture this partnership and are fully committed to working closely with India's defence forces to deliver the right value and capabilities to meet their operational needs," Ahuja added. The P-8I is an integral part of the Indian Navy's fleet and has surpassed 35,000 flight hours since it was inducted in 2013. The aircraft, with its exceptional maritime surveillance and reconnaissance capabilities, versatility and operational readiness, has proven to be an important asset to the Navy. In addition to unmatched maritime reconnaissance and anti-submarine warfare capabilities, the P-8I has been deployed to assist during disaster relief and humanitarian missions. The Indian Navy was the first international customer for the P-8 and today the P-8 is also operated by the U.S. Navy, the Royal Australian Air Force, the United Kingdom's Royal Air Force and the Royal Norwegian Air Force. Boeing remains committed in its efforts to further the Aatmanirbhar vision for manufacture, sustainment and support of the Indian Navy's P-8I fleet. Boeing Defence India (BDI), Boeing's local entity in India, supports India's growing P-8I fleet by providing training to Indian Navy flight crews, spare parts, ground support equipment and field-service representative support. Boeing's integrated logistics support has enabled a high state of fleet readiness at the lowest possible cost. Several complex and mission critical P-8I components such as the radar fingerprinting system, IFF (I/T) and datalink, speech secrecy system, mobile satcom system and wire harnesses are made in India by supplier partners, including Micro, Small & Medium Enterprises (MSMEs) located across the nation. Boeing plans to enhance in-country technical services support for the P-8I fleet by leveraging the skills and expertise of Boeing's India Engineering and Technology Center. Boeing is also completing construction on the Training Support & Data Handling Centre at INS Rajali, Arakkonam, in Tamil Nadu, and a secondary center at the Naval Institute of Aeronautical Technology, Kochi, as part of a training-and-support package contract signed in 2019. The indigenous, ground-based training will allow the IN crew to increase mission proficiency in a shorter time, while reducing the on-aircraft training time resulting in increased aircraft availability for mission tasking. Boeing is focused on delivering value to Indian customers with advanced technologies and is committed to creating sustainable value in the Indian aerospace sector - developing local suppliers, and shaping academic and research collaborations with Indian institutions. Boeing has strengthened its supply chain with more than 275 partners in India and a joint venture to manufacture fuselages for Apache helicopters. Annual sourcing from India stands at $1 billion. Boeing currently employs over 3,500 people in India, and more than 7,000 people work with its supply chain partners. Boeing's employee efforts and India country-wide engagement serves communities and citizenship programs to inspire change and make an impact on more than 500,000 lives. Learn more at www.boeing.co.in. Source: Company Website Feb 24, 2022: Indian Navy Expands Fleet with Delivery of 12th P-8I NEW DELHI, Feb. 24, 2022 - Boeing [NYSE:BA] delivered the 12th P-8I maritime patrol aircraft to India, on February 19. This is the fourth of four additional aircraft delivered under the options contract signed by the Ministry of Defence in 2016. "Customer centricity, commitment to the modernization and mission-readiness of India's defence forces are key values to our partnership with India," said Surendra Ahuja, managing director, Boeing Defence India. "With this delivery of the P-8I maritime patrol aircraft, we continue to nurture this partnership and are fully committed to working closely with India's defence forces to deliver the right value and capabilities to meet their operational needs," Ahuja added. The P-8I is an integral part of the Indian Navy's fleet and has surpassed 35,000 flight hours since it was inducted in 2013. The aircraft, with its exceptional maritime surveillance and reconnaissance capabilities, versatility and operational readiness, has proven to be an important asset to the Navy. In addition to unmatched maritime reconnaissance and anti-submarine warfare capabilities, the P-8I has been deployed to assist during disaster relief and humanitarian missions. The Indian Navy was the first international customer for the P-8 and today the P-8 is also operated by the U.S. Navy, the Royal Australian Air Force, the United Kingdom's Royal Air Force and the Royal Norwegian Air Force. Source: Company Website Feb 23, 2022: Boeing Awarded Contract for Eight AH-6 Helicopters for Thailand MESA, Ariz., Feb. 23, 2022 -- Boeing [NYSE:BA] has been awarded a $103.7 million contract by the U.S. Department of Defense as part of a foreign military sale for eight AH-6 light attack reconnaissance helicopters to Thailand. The contract also includes spares, training devices, support equipment, and technical publications for the Royal Thai Army. The deal paves the way for the Royal Thai Army to replace its fleet of aging AH-1F Cobras as part of the country's defense modernization efforts. The aircraft will be produced in Mesa, Arizona, with deliveries planned through 2024. "We welcome Thailand's selection of Boeing's AH-6 light attack reconnaissance helicopter and look forward to working with the U.S. and Thai governments as part of the foreign military sale process," said Jessie Farrington, business development director of Attack Helicopter Programs. "From its unmatched power-to-weight ratio to its extensive, integrated digital communications suite, the AH-6 offers superior performance, capability and versatility and will be a force-multiplier for the Royal Thai Army." Thailand is Boeing's second international customer for the aircraft. Boeing has a long and proven track record of being a trusted partner to Thailand's aviation and defense customers for more than 60 years. A beneficiary of ongoing AH-64 Apache modernization efforts, the AH-6 features an advanced mission computer capable of processing large amounts of data and sharing system information with the rest of the aircraft quickly - enhancing safety and situational awareness, enabling faster decision making, reducing pilot workload and decreasing support costs throughout the aircraft's life cycle. Source: Company Website Feb 23, 2022: Boeing Awarded Contract for Eight AH-6 Helicopters for Thailand MESA, Ariz., Feb. 23, 2022 -- Boeing [NYSE:BA] has been awarded a $103.7 million contract by the U.S. Department of Defense as part of a foreign military sale for eight AH-6 light attack reconnaissance helicopters to Thailand. The contract also includes spares, training devices, support equipment, and technical publications for the Royal Thai Army. The deal paves the way for the Royal Thai Army to replace its fleet of aging AH-1F Cobras as part of the country's defense modernization efforts. The aircraft will be produced in Mesa, Arizona, with deliveries planned through 2024. "We welcome Thailand's selection of Boeing's AH-6 light attack reconnaissance helicopter and look forward to working with the U.S. and Thai governments as part of the foreign military sale process," said Jessie Farrington, business development director of Attack Helicopter Programs. "From its unmatched power-to-weight ratio to its extensive, integrated digital communications suite, the AH-6 offers superior performance, capability and versatility and will be a force-multiplier for the Royal Thai Army." Thailand is Boeing's second international customer for the aircraft. Boeing has a long and proven track record of being a trusted partner to Thailand's aviation and defense customers for more than 60 years. A beneficiary of ongoing AH-64 Apache modernization efforts, the AH-6 features an advanced mission computer capable of processing large amounts of data and sharing system information with the rest of the aircraft quickly - enhancing safety and situational awareness, enabling faster decision making, reducing pilot workload and decreasing support costs throughout the aircraft's life cycle. Source: Company Website Feb 22, 2022: Boeing Global Services CEO Ted Colbert Receives Black Engineer of the Year Award Washington, D.C., Feb. 22, 2022 - Ted Colbert, president and CEO of Boeing Global Services, received the Black Engineer of the Year (BEYA) Award for 2022 by U.S. Black Engineer & Information Technology magazine at the 36th annual BEYA STEM Conference in Washington, D.C. The award recognizes a public or private sector leader who has navigated business challenges and expanded opportunities for African-Americans in science, technology, engineering and mathematics. "Receiving this honor has further reaffirmed my desire to make tomorrow better and my personal mission to help others," Colbert said during his acceptance remarks. "We must continue to do the work of repairing the world's injustices because freedom and equality don't happen by accident. We need to work at it each day so our future generations can look back on this time and reflect on how we paved the way for their lives to be better and they will, in turn, do the same." Colbert leads Boeing's aerospace services development and delivery model for commercial, government and aviation industry customers worldwide, focused on global supply chain and parts distribution, aircraft modifications and maintenance, digital solutions, aftermarket engineering, analytics and training. He holds Industrial and Systems Engineering degrees from the Georgia Institute of Technology and Morehouse College, and joined Boeing in 2009 after serving as senior vice president of Enterprise Architecture at Citigroup and holding key leadership roles at Ford Motor Company. Source: Company Website Feb 22, 2022: Boeing Global Services CEO Ted Colbert Receives Black Engineer of the Year Award Washington, D.C., Feb. 22, 2022 - Ted Colbert, president and CEO of Boeing Global Services, received the Black Engineer of the Year (BEYA) Award for 2022 by U.S. Black Engineer & Information Technology magazine at the 36th annual BEYA STEM Conference in Washington, D.C. The award recognizes a public or private sector leader who has navigated business challenges and expanded opportunities for African-Americans in science, technology, engineering and mathematics. "Receiving this honor has further reaffirmed my desire to make tomorrow better and my personal mission to help others," Colbert said during his acceptance remarks. "We must continue to do the work of repairing the world's injustices because freedom and equality don't happen by accident. We need to work at it each day so our future generations can look back on this time and reflect on how we paved the way for their lives to be better and they will, in turn, do the same." Colbert leads Boeing's aerospace services development and delivery model for commercial, government and aviation industry customers worldwide, focused on global supply chain and parts distribution, aircraft modifications and maintenance, digital solutions, aftermarket engineering, analytics and training. He holds Industrial and Systems Engineering degrees from the Georgia Institute of Technology and Morehouse College, and joined Boeing in 2009 after serving as senior vice president of Enterprise Architecture at Citigroup and holding key leadership roles at Ford Motor Company. Colbert is a passionate advocate for supporting and empowering underserved and minority populations. For more than a decade, he has played an important role in Boeing's efforts to work closely with students, faculty and education administrators from Historically Black Colleges and Universities (HBCUs) and Minority Serving Institutions (MSI) across the United States. HBCUs provide a rich source of talented graduates that help us build a diverse pipeline. Last year, Boeing welcomed more than 100 students from Historically Black Colleges and Universities into its intern program. As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing's diverse team is committed to innovating for the future and living the company's core values of safety, quality and integrity. Learn more at www.boeing.com. Source: Company Website Feb 22, 2022: Boeing Global Services CEO Ted Colbert Receives Black Engineer of the Year Award Washington, D.C., Feb. 22, 2022 - Ted Colbert, president and CEO of Boeing Global Services, received the Black Engineer of the Year (BEYA) Award for 2022 by U.S. Black Engineer & Information Technology magazine at the 36th annual BEYA STEM Conference in Washington, D.C. The award recognizes a public or private sector leader who has navigated business challenges and expanded opportunities for African-Americans in science, technology, engineering and mathematics. "Receiving this honor has further reaffirmed my desire to make tomorrow better and my personal mission to help others," Colbert said during his acceptance remarks. "We must continue to do the work of repairing the world's injustices because freedom and equality don't happen by accident. We need to work at it each day so our future generations can look back on this time and reflect on how we paved the way for their lives to be better and they will, in turn, do the same." Colbert leads Boeing's aerospace services development and delivery model for commercial, government and aviation industry customers worldwide, focused on global supply chain and parts distribution, aircraft modifications and maintenance, digital solutions, aftermarket engineering, analytics and training. He holds Industrial and Systems Engineering degrees from the Georgia Institute of Technology and Morehouse College, and joined Boeing in 2009 after serving as senior vice president of Enterprise Architecture at Citigroup and holding key leadership roles at Ford Motor Company. Colbert is a passionate advocate for supporting and empowering underserved and minority populations. For more than a decade, he has played an important role in Boeing's efforts to work closely with students, faculty and education administrators from Historically Black Colleges and Universities (HBCUs) and Minority Serving Institutions (MSI) across the United States. HBCUs provide a rich source of talented graduates that help us build a diverse pipeline. Last year, Boeing welcomed more than 100 students from Historically Black Colleges and Universities into its intern program. As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing's diverse team is committed to innovating for the future and living the company's core values of safety, quality and integrity. Learn more at www.boeing.com. Source: Company Website Feb 18, 2022: DEFIANT Executes FLRAA Mission Profile with Unsurpassed Speed, Maneuverability and Agility in High-Speed, Low-Level Operations and Confined Area Landings WEST PALM BEACH, Fla., Jan. 18, 2022-The Lockheed Martin Sikorsky-Boeing SB>1 DEFIANT(Registered) successfully completed FLRAA mission profile test flights, including confined area landings and low-level flight operations. These flights validate DEFIANT's relevancy to the Army's mission, providing agility at the objective (also known as the "X"), and increased survivability, all while reducing pilot workload. View the video of the latest flight testing. "We fully demonstrated DEFIANT's ability to execute the FLRAA mission profile by flying 236 knots in level flight, then reducing thrust on the propulsor to rapidly decelerate as we approached the confined, and unimproved, landing zone," said Bill Fell, DEFIANT chief flight test pilot at Sikorsky and a retired U.S. Army Master aviator. "This type of level body deceleration allowed us to maintain situational awareness and view the landing zone throughout the approach and landing without the typical nose-up helicopter deceleration. This confined area was extremely tight, requiring us to delay descent until nearly over the landing spot, followed by a near-vertical drop. We landed DEFIANT precisely on the objective with little effort as we descended into this narrow hole while maintaining clearance on all sides." SB>1 DEFIANT is the technology demonstrator proving out transformational capabilities for the DEFIANT X weapon system, the Sikorsky-Boeing team offering for the U.S. Army's Future Long-Range Assault Aircraft (FLRAA) competition as part of the Army's Future Vertical Lift program. DEFIANT X will enable crews to fly low and fast through complex terrain, where Army aviators spend most of their time. It will extend capabilities of Army Aviation on the modern battlefield - and is designed to fit in the same footprint as a BLACK HAWK. With DEFIANT X, the U.S. Army will deliver troops and cargo in future combat at twice the range of the current fleet. "It's what we call building combat power rapidly, and aircraft like the DEFIANT X can do that," said Tony Crutchfield, retired U.S. Army Lieutenant General and now vice president of Army Systems at Boeing. "In the Pacific, it's even more important because your lines of operation are going to be dispersed over a wide area; you're going to have these small bases and supply lines that'll be positioned either on ships or on islands. You're going to want to move more assets, maneuver in confined terrain and survive to build that combat power faster than your adversary can - so you can win." DEFIANT X incorporates Sikorsky X2(TradeMark) Technology to operate at high speeds while maintaining low-speed handling qualities. This critical capability provides pilots with increased maneuverability and survivability in high-threat environments, allowing them to penetrate enemy defenses while reducing exposure to enemy fire. DEFIANT X's X2 coaxial rotor system and pusher prop allows for a high degree of maneuverability in and around the objective which is also directly linked to survivability. DEFIANT achievements include: Greater than 60-degree banked turns. Demonstrating mission-relevant cargo capacity by lifting a 5,300-pound Guided Multiple Launch Rocket System external load. Exceeding 245 knots in level flight. Demonstrated Level 1 low-speed agility with fly-by-wire controls. Integration of U.S. Army test pilots into the Defiant program. Based on the Collier Award-winning X2 Technology. Source: Company Website Feb 16, 2022: Western Global Airlines Purchases Two Boeing 777 Freighters SEATTLE, Feb. 16, 2022 /PRNewswire/ -- Boeing [NYSE: BA] and Western Global Airlines today announced a firm order for two 777 Freighters, the first new-production freighters for the all-Boeing cargo operator based in Estero, Fla. The order was finalized in January 2022 and is currently listed as unidentified in Boeing's order backlog. The agreement also includes an additional purchase option. "Western Global is pleased to acquire new-build 777 Freighter aircraft. As the world's fastest growing cargo airline, we have determined that augmenting our existing fleet with new 777 Freighters will enable us to best serve our customers while providing a clear path to our future fleet plans," said Jim Neff, Western Global Airlines CEO & founder. Boeing's market-leading 777 Freighter is the world's largest, longest-range and most capable twin-engine freighter currently flying, with the lowest trip cost and highest reliability of any large freighter. With a range of 4,970 nautical miles (9,200 kilometers), the 777 Freighter can carry a maximum structural payload of 107 metric tons (235,900 pounds), while reducing fuel use and CO2 emissions compared to prior airplanes. This capability and exceptional efficiency translate into significant savings for cargo operators, with fewer stops and associated landing fees. Boeing has forecast that the global freighter fleet will grow by 70% in the next 20 years, with freight carriers such as Western Global supporting a rapidly expanding global e-commerce business and evolving supply chains. "The addition of 777 Freighters will enable Western Global to continue its growth, providing increased capability and flexibility to its operations," said Ihssane Mounir, Boeing senior vice president of Commercial Sales and Marketing. "These new freighters will complement its existing all-Boeing fleet and we are committed to deepening the partnership between our companies, which has existed since Western Global's inception." Having flown to over 400 airports in 135 countries on six continents, Western Global Airlines currently owns and operates a fleet of 21 747-400 and MD-11 Freighters, providing contracted turn-key transport services around the globe for a variety of blue-chip logistics companies, e-commerce platforms, and US Department of Defense. Source: Company Website Feb 16, 2022: ANA Extends Boeing Maintenance Performance Toolbox for Entire Fleet SINGAPORE, Feb. 16, 2022 - Boeing [NYSE: BA] announced today at the Singapore Airshow that All Nippon Airways (ANA) has signed an extension for Boeing's Maintenance Performance Toolbox for another five years. The Japanese carrier has used the Boeing digital solution the past eight years to manage maintenance information for its entire fleet of aircraft and engines. Maintenance Performance Toolbox allows operators to simplify their maintenance operations by enabling them to manage, distribute, process and view intelligent maintenance documentation in a uniform digital format through a single interface, regardless of aircraft manufacturer or engine type. "The adoption of Maintenance Performance Toolbox is one example of how we have streamlined our maintenance processes through digital tools," said Hajime Kaneko, Vice President of the Digital Transformation Portfolio Management Department at ANA. "It has greatly reduced the complexity of managing maintenance information for multiple airplane types across our entire fleet. We've seen efficiency improvements in our maintenance operations, and we'll continue to use Maintenance Performance Toolbox to take advantage of those benefits." Today, nearly 350 airplane operators and their MRO providers rely on Maintenance Performance Toolbox to support their engineering and maintenance operations. ANA and other airlines have deployed its full-fleet capabilities on maintaining their Boeing and non-Boeing aircraft. "ANA was a development partner for Maintenance Performance Toolbox and was the first customer to go live with the platform's full-fleet capability in 2013," said Duane Wehking, Vice President of Digital Aviation Solutions for Boeing Global Services. "We look forward to continuing to grow and improve Maintenance Performance Toolbox through our collaboration with ANA in support of streamlining their maintenance operations." Boeing is also partnering with AIRDO, an affiliate of ANA, to provide cabin modification services for 767 airplanes in its fleet. As part of the agreement, Boeing will execute the design engineering, certification and supply of parts required for completion. As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing's diverse team is committed to innovating for the future and living the company's core values of safety, quality and integrity. Source: Company Website Feb 15, 2022: Boeing and Singapore Sign Data Sharing Agreement SINGAPORE, Feb. 15, 2022 - Singapore's Defence Science and Technology Agency (DSTA) and Boeing [NYSA: BA] today signed project agreements that create a data exchange infrastructure to enable collaborative data analysis for the Republic of Singapore Air Force's F-15SG fighter aircraft. The data exchange pipeline will store and facilitate the analysis of supply chain data for the F-15SG aircraft fleet, with the goal of developing predictive maintenance actions that will enhance the operational readiness of the Republic of Singapore Air Force. "We are grateful to continue our partnership with DSTA to use the power of digital tools to reduce sustainment costs and increase aircraft readiness. Data analytics are just one part of our growing digital ecosystem of innovative services," said Ted Colbert, President and Chief Executive Officer, Boeing Global Services. Source: Company Website Feb 15, 2022: Boeing: Korea Selects Boeing to Support Readiness for Three Critical Defense Platforms SEOUL, South Korea, Feb. 15, 2022 /PRNewswire/ -- Boeing [NYSE: BA] has received three performance based logistics (PBL) contracts from the Republic of Korea's Defense Acquisition Program Administration (DAPA) to manage sustainment of Republic of Korea Air Force (ROKAF) F-15K fighter jets and Airborne Early Warning & Control (AEW&C) aircraft, and Republic of Korea Army (ROKA) CH-47 Chinook helicopters. The five-year contracts will improve aircraft availability by using performance data to inform logistics and supply chain management activities. "Our partnership with Korea is continuing to grow as we shift from transactional support approaches to customized models driven by agreed-to readiness outcomes," said Thom Breckenridge, senior director of Far East Programs for Boeing International Government & Defence. "These agreements enhance the value of PBL contracts that have delivered high mission-capable rates and improved parts forecasting and procurement of the ROKAF's F-15K fleet for more than a decade, and will extend benefits to the AEW&C and CH-47 fleets as well." Boeing will execute the contracts in partnership with local industry, using its proven integrated logistics model to coordinate supply chain forecasting, procurement, delivery, maintenance training and risk-management practices in support of ROKAF and ROKA objectives. The PBL model will also improve the ability to adapt logistics quickly and cost effectively to support emergent issues and unanticipated events. In addition to executing the PBLs, Boeing will examine how data analytics can further improve the effectiveness of its PBL approach. "Through the data they generate, these platforms are already telling us how to extend the life of parts and components, when to defer or elevate maintenance activities and how to focus training on actions that are most imminent," said Torbjorn Sjogren, vice president and general manager for Boeing International Government & Defence. "Applying data analytics to these PBLs is a very practical yet powerful way to maximize our customer's investment and support successful military operations in a critical region." For over 70 years, Boeing has enjoyed a strong and productive partnership with the Republic of Korea. Boeing is committed to supporting the growth of the Korean aerospace industry with a spend of over $5 billion in the past 15 years with local companies. As a reliable partner in the commercial aircraft and defense business sector, Boeing Korea continues to further strengthen its relationships with over 50 local industry partners, and employs more than 200 employees. Source: Company Website Feb 14, 2022: Boeing Reaches Record $2 Billion in E-Commerce Sales DALLAS, Feb. 14, 2022 /PRNewswire/ -- Boeing [NYSE: BA] achieved an annual record for e-commerce parts sales last year with more than $2 billion in online orders. Fueled by investment in digital tools, Boeing Distribution Inc. (formerly Aviall) sold nearly 70,000 parts products through its e-commerce site to commercial and government customers, eclipsing pre-pandemic levels. Commercial orders accounted for $1.5 billion in sales, reflecting the continued recovery in the airline industry. "Our $2 billion closeout to 2021 was a great capstone as the market heads to a more stable recovery," said Ted Colbert, president and chief executive officer, Boeing Global Services, at the Singapore Airshow today. "Our e-commerce capabilities are a great example of the digital solutions we provide to enable industry recovery and growth. Our focus as always is on bringing value through our products and services, and we will continue to partner with our customers as they navigate this dynamic environment." Boeing Distribution Inc.'s online revenue last year was 15 percent higher compared to pre-pandemic levels, while orders were 20 percent higher. The stronger sales came as the company rolled out new tools to improve the customer experience, including a new homepage, a live chat feature, and an online knowledge center. The refreshed e-commerce parts website, which features over 500,000 products, saw five million visits from 50 countries last year. "Boeing is improving e-commerce with our customers in mind," said William Ampofo, vice president of Parts, Distribution Services, and Supply Chain, Boeing Global Services. "In addition to launching new digital tools, we are creating a more streamlined process for our customers by realigning strategy, program, and product line management with supply chain and customer support. We will continue to focus on digital and performance improvements, along with simplifying how we engage with our customers." Source: Company Website Feb 14, 2022: Boeing: KC-46A Supplier Summit Highlights Partnerships in 42 states EVERETT, WA., Feb. 14, 2022- Boeing's [NYSE: BA] KC-46A tanker supply base gathered virtually last week for the 2022 KC-46A supplier summit. Boeing's team members engaged representatives from the KC-46A supply chain, which includes more than 500 businesses-including many small, women-owned, minority-owned and veteran-owned businesses-and employs more than 40,000 American workers across 42 states. "This is about creating value for our U.S. Air Force customer," said James Burgess, Boeing vice president and KC-46 program manager. "Our full Boeing team-defense, commercial airplanes and global services-takes an integrated approach and partners with suppliers for the production quality, consistency and continuity that our customer depends on." Boeing's leaders cited the company's partnership with established, U.S.-based KC-46A suppliers as critical to the success of building the world's most advanced aerial refueler and ensuring mission readiness for agile combat support and rapid global mobility. "Our suppliers are important and essential partners for our Tanker program," said Janene Collins, vice president, contracts & sourcing, Boeing Commercial Airplanes' supply chain. "By focusing on quality and stability throughout the entire production system, Boeing and its supplier partners can deliver incredible capability and outstanding value to the customer." Boeing builds the FAA-certified KC-46A aircraft on its 767 production line in Everett, Washington. Because it is built to be a tanker as part of its in-line production-designed and built as a tanker, not a post-production conversion-the KC-46 is uniquely suited to integrate combat-ready defensive features as well as new capabilities and advanced technology. That in-line production of the KC-46 tanker also enables hundreds of millions of dollars in life-cycle savings through lower maintenance, depot and repair costs. The KC-46A is the only tanker that meets the stringent airworthiness and performance requirements of the Federal Aviation Administration and the Air Force. "We partner closely with our suppliers on proactive fleet support for repairs and spare parts to ensure mission readiness for our customers," added Penny White, vice president, space and supply chain, Boeing Defense, Space & Security. "This, along with improved production and efficiency, is important when it comes to lowering lifecycle costs for customers." Boeing has delivered 55 KC-46A aircraft to date to the Air Force. The KC-46A is cleared to refuel nearly seventy-percent of the receivers requesting support from U.S. Transportation Command, and is supporting the highest of priority missions including presidential support. Boeing also delivered the first KC-46 to the Japan Air Self-Defense Force last year. The growing global fleet of KC-46As increases the interoperability and mutual learning within countries and among users of the platform. The KC-46 is built on the proven Boeing 767 airframe, the most fuel-efficient aircraft in its wide-body class. Source: Company Website Feb 10, 2022: Boeing to Offer the P-8A Poseidon for Canada's Multi-Mission Aircraft Project OTTAWA, Ontario, Feb. 10, 2022 - Boeing [NYSE: BA] today announced its intent to offer the P-8A Poseidon in response to Canada's Request for Information (RFI) for long-range maritime patrol aircraft. The Canadian Multi-Mission Aircraft (CMMA) project will replace the Royal Canadian Air Force fleet of CP-140 Aurora aircraft and enhance its anti-submarine warfare (ASW) and intelligence, surveillance and reconnaissance (ISR) capabilities. With more than 140 aircraft in service, the P-8 has executed more than 400,000 mishap free flight-hours around the globe. Militaries that operate or have selected the P-8 include the U.S. Navy, the United Kingdom's Royal Air Force, Royal Australian Air Force, Royal New Zealand Air Force, Indian Navy, Royal Norwegian Air Force, Republic of Korea Navy and German Navy. "The P-8A Poseidon has demonstrated that it is the world's most capable multi-mission aircraft currently in production and offers a complete solution for Canada's CMMA requirements," said Tim Flood, International Business Development director, Europe and Americas. "The range, speed, and endurance of the P-8 makes it the perfect platform to monitor Canada's northern and maritime approaches and the P-8 will ensure allied interoperability to meet Canada's security commitments. Coupled with a robust industrial partnership plan, Boeing's offer will build on its successful record of contributing to Canada's economic growth throughout the life of the CMMA program." The P-8A's multi-mission capability has delivered mission success in ASW, ISR, humanitarian assistance and disaster relief and search and rescue missions. These multi-mission capabilities are enhanced through secure, interoperable, net-ready systems that will provide Canada with the ability to engage/control and to fully integrate with other ASW and ISR assets. In addition, the P-8 shares extensive commonality with Boeing's 737NG, which has support infrastructure around the globe. Commonality in spares and training for aircrews and maintainers reduces costs substantially and enables military operators to leverage support throughout the world. This proven aircraft and support infrastructure is the basis for delivering a rapid, low risk, low cost capability for Canada. Source: Company Website Feb 10, 2022: Lockheed Martin Sikorsky-Boeing Selects Honeywell Engine to Power DEFIANT X(Registered) PHILADELPHIA, Feb. 10, 2022- Sikorsky, a Lockheed Martin Company (NYSE: LMT), and Boeing (NYSE: BA) today announced Honeywell (NYSE: HON) as the engine provider for DEFIANT X, the advanced helicopter for the U.S. Army's Future Long-Range Assault Aircraft (FLRAA) competition. With Honeywell providing the HTS7500 turboshaft engine, Team DEFIANT brings unsurpassed Army Aviation experience to revolutionize Army air assault while seamlessly integrating with legacy platforms, proven tactics and existing infrastructure. DEFIANT X(Registered) will be the fastest, most maneuverable and survivable assault helicopter in history. "Team DEFIANT's strength is built on the experience of Sikorsky and Boeing, and a commitment to Army Aviation," said Mark Cherry, vice president and general manager of Boeing Vertical Lift. "Honeywell's history with Boeing and the U.S. Army makes us even more confident that DEFIANT X(Registered) is the best fit for the Army's total mission." "DEFIANT X(Registered) is a transformational aircraft, and Honeywell is giving us a transformational engine to power it," said Paul Lemmo, president of Sikorsky. "DEFIANT X(Registered) is optimized for operational effectiveness, sustainment and interoperability with the enduring fleet, and will transform the Army." DEFIANT X(Registered) is a complete weapon system that builds on the handling qualities and capabilities proven by the team's technology demonstrator, SB>1 DEFIANT(Registered). It flies twice as far and fast as the venerable Black Hawk helicopter it is designed to replace. Currently undergoing testing in a digital combat environment, the aircraft continues to prove itself as the most survivable platform for mission requirements. "Honeywell is excited to be a part of Team DEFIANT and proud to play a part in the future of vertical lift for the U.S. Army," said Ricky Freeman, president, Defense & Space at Honeywell Aerospace. "We're confident our HTS7500 engine on the DEFIANT X(Registered) platform will provide the Army with an agile, fast and maneuverable platform that will help ensure overmatch capability in the future battlespace." Sikorsky-Boeing submitted the proposal for DEFIANT X(Registered) for the U.S. Army's Future Long-Range Assault Aircraft in September 2021. Contract award is expected this year. Source: Company Website Feb 09, 2022: Air Force Awards Boeing 5-year, $91 Million Contract for Continued Aircraft Guidance and Navigation Repair HEATH, Ohio, Feb. 8, 2021 - Boeing [NYSE:BA] will continue to provide the U.S. Air Force with guidance and navigation repair work on a variety of aircraft under a 5-year, $91 million sole-source contract. The company has serviced components for aircraft including the B-2 Spirit, B-52 Stratofortress, E-3 Sentry and F-15 Eagle at the Boeing Guidance Repair Center in Heath, Ohio, since 1996. "We've partnered with the Air Force for 25 years, and we're happy to continue working alongside them for this critical repair work," said Mike Murasky, site leader for the Boeing Guidance Repair Center. "We're committed to continuing to provide the customer with the same level of service they've come to expect from us - high-quality products, on schedule and on cost, while remaining flexible to meet their needs." The Boeing Guidance Repair Center is responsible for maintaining the readiness and modernization of guidance and navigation systems for U.S. nuclear-capable platforms, as well as non-nuclear capable guidance and control systems, electronics and radio frequency systems, and platform processors. In addition, the center is home to assembly, integration and test activities for several Boeing production programs, including the KC-46 tanker, T-7A Red Hawk and the MQ-25 unmanned aircraft system. Source: Company Website Feb 07, 2022: Boeing Buys Two Million Gallons of Sustainable Aviation Fuel for its Commercial Operations SEATTLE, Feb. 7, 2022 /PRNewswire/ -- Boeing [NYSE:BA] today announced a supply agreement for two million gallons (7.5 million liters) of blended sustainable aviation fuel (SAF) with EPIC Fuels to power its Commercial Airplanes operations in Washington state and South Carolina through 2022. The agreement is the largest announced SAF procurement by an airframer and further demonstrates Boeing's commitment to decarbonizing aviation. "SAF is a safe, proven, immediate solution that will help achieve our industry's long-term commitment to net zero carbon emissions by 2050," says Sheila Remes, Boeing vice president of Environmental Sustainability. "Boeing has been a pioneer in making sustainable aviation fuels a reality. Through this agreement we will reduce our carbon footprint and have SAF available for customer deliveries as well as our own operations." Sustainably produced jet fuel, which reduces CO2 emissions by as much as 80% over the fuel's life cycle with the potential to reach 100% in the future, is widely recognized as offering the most immediate and greatest potential to decarbonize aviation over the next 20 to 30 years. Made from several feedstocks, sustainable aviation fuel is certified for commercial use and can be blended with traditional jet fuel without modifications to airplanes, engines or fueling infrastructure. Approximately a year ago, Boeing committed to deliver its commercial airplanes capable and certified to fly on 100% SAF by 2030. The purchase agreement with EPIC Fuels includes a SAF product made from inedible agricultural waste, blending 30% neat SAF with 70% conventional jet fuel. The purchase will enable broader use of SAF for Boeing commercial production, test, ferry, Dreamlifter and customer flights at facilities in Everett, Renton and Seattle in Washington state and North Charleston, South Carolina. EPIC Fuels will also continue to supply customized blends from 50/50% up to 100% SAF for the Boeing ecoDemonstrator program, which accelerates innovation by taking promising technologies out of the lab and testing them in the air to solve real-world challenges for airlines and passengers. SAF is currently approved for a 50/50 blend with conventional jet fuel for commercial flights. "Our focus on environmental stewardship and safety is well known in the industry." expressed Kyle O'Leary, VP and COO of EPIC Fuels, an independent aviation fuel supplier with primary operations throughout the U.S. and Canada. "EPIC and Boeing have been partners for decades and we are honored to be a part of this procurement. Working together, we are making sustainability more attainable for our customers." The purchase builds on Boeing's long-term industry leadership and investment to develop SAF around the world, partnering with airlines, fuel companies, governments and research institutions to expand SAF supply and reduce its cost. Boeing began SAF test flights in 2008, helped gain approval for commercial use in 2011 and enabled airplane delivery flights with SAF starting in 2012. The 2018 Boeing ecoDemonstrator conducted the industry's first 100 percent SAF commercial airplane test flight on a 777 Freighter in partnership with FedEx. In 2019, Boeing began offering customers the option to power commercial delivery flights with SAF to demonstrate commitment to reducing CO2 and further spur the use of cleaner fuels. Source: Company Website Feb 06, 2022: Boeing to Highlight Sustainability, Technology and Partnerships at Singapore Airshow 2022 SINGAPORE, Feb. 6, 2022 /PRNewswire/ -- At the Singapore Airshow this month, the largest in Southeast Asia, Boeing (NYSE: BA) will showcase its industry-leading portfolio of commercial, defense and support services by highlighting advanced systems and capabilities focused on safe and sustainable aerospace. Boeing's presence at the show will include its newest fuel-efficient widebody jet, the 777X, along with the company's offerings in maritime patrol aircraft, advanced fighters and trainers, and autonomous systems. "We are looking forward to gathering with our industry colleagues in Singapore, in support of the recovery of aviation in the Southeast Asia region, as it provides us an opportunity to engage with customers, government officials, partners, suppliers, media and other stakeholders from the region," said Alex Feldman, president of Boeing Southeast Asia. "We will highlight our investment in, and commitment to, technology, innovation and sustainability, building the foundation for the long-term growth of the aerospace industry." During the show, a Boeing 777X flight test airplane will make its Asia debut, demonstrating aerial maneuvers that showcase its new carbon-fiber composite wing and quiet GE9X engines, which contribute to the airplane family's leading environmental performance. Based on the most successful twin-aisle airplane ever, the 777, and with advanced technologies from the 787 Dreamliner family, the 777-9 will be the world's largest and most efficient twin-engine jet, delivering 10% better fuel use, emissions and operating costs than the competition. Boeing's exhibit at the show will also highlight the F-15, P-8 Poseidon, T-7A Advanced Pilot Training System, as well as autonomous technology including the Boeing Airpower Teaming System, which is the company's first uncrewed system to be designed and developed in Australia. Designed to provide a transformational capability for global defense customers, it is the company's largest investment in a new uncrewed aircraft program outside the United States. This purpose-built aircraft can be missionized to suit country-specific needs. The United States Department of Defense corral is expected to display the KC-46A Pegasus, P-8A Poseidon, and C-17 Globemaster III. Additionally, Boeing will highlight its growing digital ecosystem of services, including integrated flight operations, a data-driven supply chain, e-commerce, predictive maintenance, digitally enabled MROs and competency-based training for commercial and defense customers. Showcased service offerings use digital innovation to reduce fuel use and support sustainability targets for customers utilizing all airplane platforms. Boeing will also focus on measures to deliver a safer, more efficient and sustainable air transportation system for the future with an emphasis on the Confident Travel Initiative, a Boeing led effort to provide passengers and crew a safe, healthy and efficient travel experience and deliver that information to governments and the general public. Additional information about Boeing and the Singapore Airshow: Company leaders will discuss market opportunities and other topics at a series of media briefings during the show. Please visit boeing.com/Singapore, and follow @Boeing on Twitter for more information about Boeing's presence at the show. Visitors to the Boeing exhibit can experience a 360-degree theater and learn more about the company's capabilities through the lifecycle of several products. (Exhibit # A-U01, U23). Boeing's Commercial Market Outlook (CMO) forecasts that rising air travel will see the airplane fleet in Southeast Asia growing five percent by 2040, resulting in the demand for more than 4400 new airplanes valued at $700 billion. Single-aisle jets will account for more than 80% of the deliveries, which will well position the region to connect the domestic routes in Southeast Asia and key leisure routes between China and Northeast Asia. Widebody jets including passenger and cargo models will total over 800 airplanes. Tied to economic and fleet growth, demand for maintenance, repair, overhaul and modifications account for a majority of projected commercial aviation services demand. Source: Company Website Feb 02, 2022: Boeing Breakthrough in All-Composite Cryogenic Propellant Tank Advances Technology Readiness HUNTSVILLE, Ala., Feb. 2, 2022 - A new type of large, fully-composite, linerless cryogen tank, designed and manufactured by Boeing [NYSE: BA], completed a critical series of tests at NASA's Marshall Space Flight Center at the end of 2021. The reusable tank shell was originally constructed as flight hardware for DARPA's Experimental Spaceplane Program (XSP). The successful test campaign advances the new technology towards being mature, safe and ready for use in aerospace vehicles. The 4.3-meter (14 foot) diameter composite tank is similar in size to the propellant tanks intended for use in the upper stage of NASA's Space Launch System (SLS) rocket, which is the foundational capability in NASA's Artemis lunar and deep space human exploration program. If the new composite technology were implemented in evolved versions of the SLS's Exploration Upper Stage, the weight savings technology could increase payload masses by up to 30 percent. This tank leveraged and built upon composite cryotank technology developed and proven out through NASA's composite cryotank technology development (CCTD) program and other efforts. "Composites are the next major technological advancement for large aerospace cryogenic storage structures," said Boeing Composite Cryotank Manufacturing Lead Carlos Guzman. "And while they can be challenging to work with, they offer significant advantages over traditional metallic structures. Boeing has the right mix of experience, expertise and resources to continue to advance this technology and bring it to market in a variety of applications across aerospace and aeronautics." During the testing, which was funded by DARPA and Boeing, engineers from Boeing and NASA filled the vessel with cryogenic fluid in multiple test cycles, pressurizing the tank to expected operational loads and beyond. In the final test, which intended to push the tank to failure, pressures reached 3.75 times the design requirements without any major structural failure. "NASA's support through this testing has been invaluable," said Boeing Test Program Manager Steve Wanthal. "We were able to use their technical expertise and investments made in the testing infrastructure at the Marshall Space Flight Center to continue to advance this technology, which will ultimately benefit the entire industry." Applications for the technology expand past spaceflight. The test which builds upon Boeing's extensive experience with the safe use of hydrogen in aerospace applications will inform Boeing's ongoing studies of hydrogen as a potential future energy pathway for commercial aviation. In addition to use in space programs, Boeing has completed five flight demonstration programs with hydrogen. Source: Company Website Feb 02, 2022: Boeing: First Upgraded Chinook Helicopter Delivered to Spain MADRID, Feb. 2, 2022 - The first remanufactured CH-47 Chinook helicopter was delivered to the Spanish Army at a ceremony held at the headquarters of the Spanish Army Airmobile Forces in Colmenar Viejo, Madrid. The aircraft is the first of 17 that will modernize the Spanish Chinook fleet, upgrading their existing CH-47D-model aircraft to the newer CH-47F model. The CH-47F features a digital automatic flight control system, common avionics architecture system and advanced cargo handling to meet the Spanish Army's modernization needs for increased operational capacity, while ensuring interoperability with allied nations. "We are pleased to celebrate this major milestone with the Spanish Army," said Heather McBryan, director of Business Development for Boeing Cargo Helicopters and Future Vertical Lift programs. "The Chinook continues to exceed our customers' expectations and the F-model will provide Spain with an advanced and reliable aircraft from delivery through sustainment." The Spanish modernization effort coincides with its European counterparts across the region. The Netherlands recently retired its last CH-47D Chinook in favor of the F-model configuration, while the United Kingdom purchased additional aircraft to upgrade its fleet. With more than 950 aircraft in service with 20 international operators, including eight NATO nations, the Chinook brings the right mix of current and future capabilities to meet customers' needs, including a global supply base for around-the-clock part availability, immediate international interoperability and streamlined maintenance procedures. Source: Company Website Jan 31, 2022: Boeing: Risk Factors Risk Factors An investment in our common stock or debt securities involves risks and uncertainties and our actual results and future trends may differ materially from our past or projected future performance. We urge investors to consider carefully the risk factors described below in evaluating the information contained in this report. Risks Related to COVID-19 We face significant risks related to the spread of the COVID-19 virus and developments surrounding the global pandemic have had, and will continue to have, significant effects on our business, financial condition, results of operations and cash flows. We also face significant risks related to the global economic downturn and severe reduction in commercial air traffic caused by the pandemic. These risks include materially reduced demand for our products and services, increased instability in our operations and in our supply chain and challenges to the ongoing viability of some of our customers. In addition, future vaccination mandates or other government requirements may further disrupt our operations and those of our customers and suppliers. We may face similar risks in connection with any future public health crises, including resurgences in the spread of COVID-19. The COVID-19 pandemic has subjected our business, operations, financial performance, cash flows and financial condition to a number of risks, including, but not limited to those discussed below. Operations-related risks: As a result of the COVID-19 pandemic, we are facing increased operational challenges from the need to protect employee health and safety. These challenges have included, and may in the future include, production site shutdowns, workplace disruptions and restrictions on the movement of people, social distancing guidelines, increased employee absenteeism due to illness and/or quarantine/contact tracing requirements, as well as reduced availability of raw materials and goods, both at our own facilities and those of our customers and suppliers. During the second quarter of 2020, we temporarily suspended operations in Puget Sound, South Carolina, and Philadelphia, as well as at several other key production sites. We had not previously experienced a complete suspension of our operations at these production sites. While we have resumed operations at all of our production sites, we cannot predict whether or where further production disruptions could be required or what the ongoing impact of COVID-19-related operating restrictions will be. For example, we continue to experience near-term production disruptions and inefficiencies as well as additional operating costs due to social distancing requirements, increased levels of employee absenteeism and other factors related to COVID-19 restrictions. We cannot predict the impact that future production disruptions may have on our business, operations, financial performance and financial condition. We continue to monitor federal, state and municipal health authorities for new or modified guidance and requirements concerning the COVID-19 pandemic, and we may be required to impose additional operational restrictions and/or suspend operations at key production sites based on these requirements and recommendations and/or workplace disruptions caused by COVID-19. If future vaccination mandates or other similar governmental requirements take effect, or if COVID-19 case rates worsen at one or more of our production facilities, we may face further increases in employee absenteeism and/or attrition, any of which could cause operational disruptions and otherwise have an adverse effect on our business and results of operations. Many of our suppliers also were required to suspend operations during the second quarter of 2020. In 2021, we experienced part shortages which disrupted our operations and delayed deliveries. We may experience additional disruptions and/or part shortages in 2022. Any such disruptions could have severe adverse impacts on our production costs, delivery schedule and/or ability to meet customer commitments. Further production disruptions and inefficiencies, suspension of operations or delayed recovery in our operations, and/or any comparable impacts involving one or more of our key suppliers, or the failure of any of our key suppliers, would result in further challenges to our business, which could have a further material adverse effect on our business, financial position, results of operations and/or cash flows. Liquidity risks: The COVID-19 pandemic has also had a significant impact on our liquidity and overall debt levels. During the year ended December 31, 2021, net cash used by operating activities was $3.4 billion. At December 31, 2021, cash and short-term investments totaled $16.2 billion. Our debt balance totaled $58.1 billion at December 31, 2021, down from $63.6 billion at December 31, 2020. We expect negative operating cash flows in future quarters until deliveries begin to return to historical levels, and if the pace and scope of the recovery are worse than we currently contemplate, we may need to obtain additional financing in order to fund our operations and obligations. If we were to need to obtain additional financing, uncertainty related to COVID-19 and its impact on us and the aerospace industry, as well as continued uncertainty with respect to our credit rating could limit our access to credit markets and we may have difficulty obtaining financing on terms acceptable to us or at all. In addition, certain of our customers may also be unable to make timely payments to us. Factors that could limit our access to additional liquidity include further disruptions in the global capital markets and/or additional declines in our financial performance, outlook or credit ratings. The occurrence of any or all of these events could adversely affect our ability to fund our operations and/or meet outstanding debt obligations and contractual commitments. In addition, further downgrades in our credit ratings could adversely affect our cost of funds and related margins, liquidity, competitive position and access to capital markets, and a significant downgrade could have an adverse impact on our businesses. Customer-related risks: Commercial air traffic has fallen dramatically due to the COVID-19 pandemic. This trend has impacted passenger traffic most severely. Most airlines have significantly reduced their capacity, and many could implement further reductions. Many airlines are also implementing significant reductions in staffing. These capacity changes are causing, and are expected to continue to cause, negative impacts to our customers' revenue, earnings, and cash flow, and in some cases may threaten the future viability of some of our customers, potentially causing defaults within our customer financing portfolio, which was $1.8 billion as of December 31, 2021 and/or requiring us to remarket aircraft that have already been produced and/or are currently in backlog. If we are unable to successfully remarket these aircraft and/or the narrow-body and wide-body markets do not recover as soon as we are currently assuming, or if we are required to further reduce production rates and/or contract the accounting quantity on any of our commercial programs, we could experience material reductions in earnings and/or be required to recognize a reach-forward loss on one or more of our programs. For example, in the fourth quarter of 2020, we recognized a reach-forward loss on the 777X program in part due to impacts related to the COVID-19 pandemic. Additionally, we may experience fewer new orders and increased cancellations across all of our commercial airplane programs as a result of the COVID-19 pandemic and associated impacts on demand. Our customers may also lack sufficient liquidity to purchase new aircraft due to impacts from the pandemic. In addition to the near-term impact, there is risk that the industry implements longer-term strategies involving reduced capacity, shifting route patterns and mitigation strategies related to impacts from COVID-19 and the risk of future public health crises. In addition, airlines may experience reduced demand due to reluctance by the flying public to travel as a result of travel restrictions and/or social distancing requirements. As a result, there is significant uncertainty with respect to whether and at what point commercial air traffic capacity will return to and/or exceed pre-COVID-19 levels. This uncertainty may have a significant impact on the demand for both single-aisle and wide-body commercial aircraft, as well as for the services we provide to commercial airlines. In addition, a lengthy period of reduced industry-wide demand for commercial aircraft would put additional pressure on our suppliers, resulting in increased procurement costs and/or additional supply chain disruption. To the extent that the COVID-19 pandemic or its aftermath further impacts demand for our products and services or impairs the viability of some of our customers and/or suppliers, our financial position, results of operations and/or cash flows could be adversely affected, and those impacts could be material. Other risks: The magnitude and duration of the global COVID-19 pandemic is uncertain and continues to adversely affect our business and operating and financial results. For example, during the fourth quarter of 2020, due in part to the prolonged adverse impact of the pandemic on our earnings, we recorded an increase of $2.5 billion to the valuation allowance associated with deferred income tax assets. The pandemic also is expected to heighten many of the other risks described below. For example, the COVID-19 pandemic could cause and continue to cause an increasingly competitive labor market due to a sustained labor shortage or increased turnover rates within our employee base. Further, the COVID-19 pandemic may also affect our operating and financial results in a manner that is not presently known to us or that we currently do not expect to present significant risks to our operations or financial results. Risks Related to Our Business and Operations We remain subject to a number of risks and uncertainties related to the 737 MAX. These risks include uncertainties regarding the timing and conditions of remaining 737 MAX regulatory approvals, lower than planned production rates and/or delivery rates, additional considerations to customers, increased supplier costs and supply chain health, changes to the assumptions and estimates made in our financial statements regarding the 737 program and potential outcomes of 737 MAX-related legal proceedings and government investigations that remain outstanding. On March 13, 2019, the FAA issued an order to suspend operations of all 737 MAX aircraft in the U.S. and by U.S. aircraft operators following two fatal 737 MAX accidents. Non-U.S. civil aviation authorities issued directives to the same effect. Deliveries of the 737 MAX were suspended until December 2020. The grounding reduced revenues, operating margins and cash flows, and will continue to do so until production rates return to pre-grounding levels. While we have received regulatory approval to return the 737 MAX to service in most jurisdictions, we continue to work with certain non-U.S. civil aviation authorities to complete remaining steps toward certification and readiness for return to service worldwide. Any delays in the completion of the certification activities and/or the ramp-up of deliveries or other liabilities associated with the accidents or grounding could have a material adverse effect on our financial position, results of operations and/or cash flows. In addition, multiple legal actions have been filed against us related to the 737 MAX. We also are fully cooperating with U.S. government investigations related to the accidents and the 737 MAX, including an ongoing investigation by the Securities and Exchange Commission. We also remain subject to compliance with a Deferred Prosecution Agreement with the U.S. Department of Justice relating to the Department of Justice's investigation into us regarding the evaluation of the 737 MAX airplane by the FAA. We expensed $744 million in the fourth quarter of 2020 related to this agreement. Any further adverse impacts related to any such litigation or investigations could have a further material impact on our financial position, results of operations and/or cash flows. During 2019, we announced plans to reduce, and ultimately to suspend 737 production. Impacts related to our suspension of 737 MAX production from 2019 to 2020 significantly increased costs to produce aircraft included in the current accounting quantity and have resulted in reduced 737 program and overall BCA segment operating margins. We have also made significant assumptions regarding estimated costs expected to be incurred in 2022 that should be included in program inventory and those estimated costs that will be expensed when incurred as abnormal production costs. If the completion of remaining certification activities and/or our ability to deliver 737 aircraft to customers is impaired, we will incur significant additional costs and/or be required to delay the planned ramp-up of 737 production. These delays would also result in significant additional disruption to the 737 production system and further delay efforts to restore and/or implement previously planned increases in the 737 production rate. Cash flows continue to be negatively impacted by delayed payments from customers, higher costs and inventory levels, and payments made to customers in connection with disruption to their operations. In addition, we have experienced claims and assertions from customers in connection with the grounding and associated delivery delays, and recorded an estimate of potential concessions and other considerations to customers for these disruptions. As of December 31, 2021, the remaining liability associated with these concessions and other considerations totaled $2.9 billion, of which $0.7 billion remains subject to negotiation. Any further delays in regulatory approval of the 737 MAX in one or more jurisdictions, further disruptions to suppliers and/or the long-term health of the production system, supplier claims or assertions, or changes to estimated concessions or other considerations we expect to provide to customers could have a material adverse effect on our financial position, results of operations and/or cash flows. In the event of unanticipated additional training requirements in one or more jurisdictions, delays in regulatory approval and/or delays in our ability to resume deliveries to one or more customers, we may be required to take actions with longer-term impact, such as further changes to our production plans, employment reductions and/or the expenditure of significant resources to support our supply chain and/or customers. We have made significant estimates with respect to the 737 program regarding the number of units to be produced, the period during which those units are likely to be produced, and the units' expected sales prices, production costs, program tooling and other non-recurring costs, and routine warranty costs. We have made assumptions regarding outcomes of accident investigations and other government inquiries, timing of future 737 production rate increases, timing and sequence of future deliveries, supply chain health as we implement our production plans, as well as outcomes of negotiations with customers. Any changes in these estimates and/or assumptions with respect to the 737 program could have a material impact on our financial position, results of operations and/or cash flows. In addition to the impact of COVID-19 described above, our Commercial Airplanes and Global Services businesses depend heavily on commercial airlines, and are subject to unique risks. Market conditions have a significant impact on demand for our commercial aircraft and related services. The commercial aircraft market is predominantly driven by long-term trends in airline passenger and cargo traffic. The principal factors underlying long-term traffic growth are sustained economic growth and political stability both in developed and emerging markets. Demand for our commercial aircraft is further influenced by airline profitability, availability of aircraft financing, world trade policies, government-to-government relations, technological advances, price and other competitive factors, fuel prices, terrorism, epidemics and environmental regulations. Traditionally, the airline industry has been cyclical and very competitive and has experienced significant profit swings and constant challenges to be more cost competitive. Significant deterioration in the global economic environment, the airline industry generally or the financial stability of one or more of our major customers could result in fewer new orders for aircraft or services, or could cause customers to seek to postpone or cancel contractual orders and/or payments to us, which could result in lower revenues, profitability and cash flows and a reduction in our contractual backlog. In addition, because our commercial aircraft backlog consists of aircraft scheduled for delivery over a period of several years, any of these macroeconomic, industry or customer impacts could unexpectedly affect deliveries over a long period. We enter into firm fixed-price aircraft sales contracts with indexed price escalation clauses, which could subject us to losses if we have cost overruns or if increases in our costs exceed the applicable escalation rate. Commercial aircraft sales contracts are often entered into years before the aircraft are delivered. In order to help account for economic fluctuations between the contract date and delivery date, aircraft pricing generally consists of a fixed amount as modified by price escalation formulas derived from labor, commodity and other price indices. Our revenue estimates are based on current expectations with respect to these escalation formulas, but the actual escalation amounts are outside of our control. Escalation factors can fluctuate significantly from period to period. Changes in escalation amounts can significantly impact revenues and operating margins in our Commercial Airplanes business. We derive a significant portion of our revenues from a limited number of commercial airlines. We can make no assurance that any customer will exercise purchase options, fulfill existing purchase commitments or purchase additional products or services from us. In addition, fleet decisions, airline consolidations or financial challenges involving any of our major commercial airline customers could significantly reduce our revenues and limit our opportunity to generate profits from those customers. Our Commercial Airplanes business depends on our ability to maintain a healthy production system, ensure every airplane in our production system conforms to our exacting specification, achieve planned production rate targets, successfully develop new aircraft or new derivative aircraft, and meet or exceed stringent performance and reliability standards. The commercial aircraft business is extremely complex, involving extensive coordination and integration with U.S and non-U.S. suppliers, highly-skilled labor from thousands of employees and other partners, and stringent regulatory requirements, including the risk of evolving standards for commercial aircraft certification, and performance and reliability standards. The FAA has been working to implement safety reforms such as the implementation of the 2018 FAA Reauthorization Act and the 2020 Aircraft Certification, Safety and Accountability Act, among them changing the process for certification of commercial aircraft. Comparable agencies that regulate similar matters in other countries may adopt similar changes. To the extent the FAA or other similar regulatory agencies outside the U.S. implement more stringent regulations, we may incur additional costs to achieve compliance. In addition, the introduction of new aircraft programs and/or derivatives, such as the 777X, involves increased risks associated with meeting development, testing, production and certification schedules. The 737 program experienced significant disruption due to the grounding of the 737 MAX and associated suspension of commercial operations of the 737 MAX aircraft by civil aviation authorities around the globe. 737 MAX deliveries resumed in late 2020 and early 2021 upon approval of the FAA and other non-U.S. civil aviation authorities. During 2020 and 2021, we experienced production quality issues, including in our supply chain, which have contributed to lower 787 deliveries, including a pause in 787 deliveries since May 2021. During 2021, this resulted in reprioritizing production resources to support inspections and rework. We continue to conduct inspections and rework on undelivered 787 aircraft and engage in detailed discussions with the FAA regarding required actions for resuming delivery. A number of our customers may have contractual remedies, including compensation for late deliveries as well as rights to reject individual airplane deliveries if the actual delivery date is significantly later than the contractual delivery date. The regulators will ultimately determine the timing and conditions for resuming 787 deliveries. Delays on the 737 MAX, 777X and 787 programs have resulted in, and may continue to result in, customers having the right to terminate orders and/or substitute orders for other Boeing aircraft. We must minimize disruption caused by production changes, achieve operational stability and implement productivity improvements in order to meet customer demand and maintain our profitability. We have previously announced plans to adjust production rates on several of our commercial aircraft programs. During 2021, we reprioritized production resources to support inspections and rework on undelivered 787 aircraft. The 787 program is currently producing at very low rates and expects that to continue until deliveries resume. We are also continuing to implement changes in the production process designed to ensure that newly-built airplanes meet our specifications and do not require further inspections and rework. In addition, we continue to seek opportunities to reduce the costs of building our aircraft, including working with our suppliers to reduce supplier costs, identifying and implementing productivity improvements and optimizing how we manage inventory. If production rate changes at any of our commercial aircraft assembly facilities are delayed or create significant disruption to our production system, or if our suppliers cannot timely deliver components to us at the cost and rates necessary to achieve our targets, we may be unable to meet delivery schedules and/or the financial performance of one or more of our programs may suffer. Operational challenges impacting the production system for one or more of our commercial aircraft programs could result in production delays and/or failure to meet customer demand for new aircraft, either of which would negatively impact our revenues and operating margins. Our commercial aircraft production system is extremely complex. Operational issues, including delays or defects in supplier components, failure to meet internal performance plans, or delays or failures to achieve required regulatory approval, could result in significant out-of-sequence work and increased production costs, as well as delayed deliveries to customers, impacts to aircraft performance and/or increased warranty or fleet support costs. For example, in 2021, we performed additional inspections and associated rework on 787 aircraft in inventory and continued discussions with the FAA regarding required actions to resume deliveries, resulting in additional costs and further delays in aircraft deliveries to customers. If our commercial airplanes fail to satisfy performance and reliability requirements, we could face additional costs and/or lower revenues. Developing and manufacturing commercial aircraft that meet or exceed our performance and reliability standards, as well as those of customers and regulatory agencies, can be costly and technologically challenging. These challenges are particularly significant with newer aircraft programs. Any failure of any Boeing aircraft to satisfy performance or reliability requirements could result in disruption to our operations, higher costs and/or lower revenues. Changes in levels of U.S. government defense spending or overall acquisition priorities could negatively impact our financial position and results of operations. We derive a substantial portion of our revenue from the U.S. government, primarily from defense related programs with the U.S. DoD. Levels of U.S. defense spending are very difficult to predict and may be impacted by numerous factors such as the evolving nature of the national security threat environment, U.S. national security strategy, U.S. foreign policy, the domestic political environment, macroeconomic conditions and the ability of the U.S. government to enact relevant legislation such as authorization and appropriations bills. The timeliness of FY22 and future appropriations for government departments and agencies remains a recurrent risk. A lapse in appropriations for government departments or agencies would result in a full or partial government shutdown, which could impact the Company's operations. Alternatively, Congress may fund government departments and agencies with one or more Continuing Resolutions; however, this would restrict the execution of certain program activities and delay new programs or competitions. In addition, long-term uncertainty remains with respect to overall levels of defense spending in FY22 and beyond, and it is likely that U.S. government discretionary spending, including defense spending, will continue to be subject to pressure. There continues to be uncertainty with respect to future acquisition priorities and program-level appropriations for the U.S. DoD and other government agencies (including NASA), including changes to national security and defense priorities, and tension between modernization investments, sustainment investments, and investments in new technologies or emergent capabilities. Future investment priority changes or budget cuts, including changes associated with the authorizations and appropriations process, could result in reductions, cancellations, and/or delays of existing contracts or programs, or future program opportunities. Any of these impacts could have a material effect on the results of the Company's financial position, results of operations and/or cash flows. In addition, as a result of the significant ongoing uncertainty with respect to both U.S. defense spending and the evolving nature of the national security threat environment, we also expect the U.S. DoD to continue to emphasize affordability, innovation, cybersecurity and delivery of technical data and software in its procurement processes. If we can no longer adjust successfully to these changing acquisition policies, our revenues and market share could be impacted. Also, additional federal appropriations to cover the increased costs of federal contractors' compliance with evolving U.S. Government contractual requirements associated with COVID-19 mitigation are unlikely, reducing the U.S. Government's buying power. Our ability to deliver products and services that satisfy customer requirements is heavily dependent on the performance and financial stability of our subcontractors and suppliers, as well as on the availability of raw materials and other components. We rely on other companies, including U.S. and non-U.S. subcontractors and suppliers, to provide and produce raw materials, integrated components and sub-assemblies, and production commodities and to perform some of the services that we provide to our customers. If one or more of our suppliers or subcontractors experiences financial difficulties, delivery delays or other performance problems, we may be unable to meet commitments to our customers or incur additional costs. In addition, if one or more of the raw materials on which we depend (such as aluminum, titanium or composites) becomes unavailable to us or our suppliers, or is available only at very high prices, we may be unable to deliver one or more of our products in a timely fashion or at budgeted costs. In some instances, we depend upon a single source of supply. Any service disruption from one of these suppliers, either due to circumstances beyond the supplier's control, such as geopolitical developments, or as a result of performance problems or financial difficulties, could have a material adverse effect on our ability to meet commitments to our customers or increase our operating costs. Competition within our markets and with respect to the products we sell may reduce our future contracts and sales. The markets in which we operate are highly competitive and one or more of our competitors may have more extensive or more specialized engineering, manufacturing and marketing capabilities than we do in some areas. In our Commercial Airplanes business, we anticipate increasing competition among non-U.S. aircraft manufacturers of commercial jet aircraft. In our BDS business, we anticipate that the effects of defense industry consolidation, shifting acquisition and budget priorities, and continued cost pressure at our U.S. DoD and non-U.S. customers will intensify competition for many of our BDS products. Our BGS segment faces competition from many of the same strong U.S. and non-U.S. competitors facing BCA and BDS. Furthermore, we are facing increased international competition and cross-border consolidation of competition. There can be no assurance that we will be able to compete successfully against our current or future competitors or that the competitive pressures we face will not result in reduced revenues and market share. We derive a significant portion of our revenues from non-U.S. sales and are subject to the risks of doing business in other countries. In 2021, non-U.S. customers, which includes foreign military sales (FMS), accounted for approximately 37% of our revenues. We expect that non-U.S. sales will continue to account for a significant portion of our revenues for the foreseeable future. As a result, we are subject to risks of doing business internationally, including: changes in regulatory requirements or other executive branch actions, such as Executive Orders; changes in the global trade environment, including disputes with authorities in non-U.S. jurisdictions, including international trade authorities, that could impact sales and/or delivery of products and services outside the U.S. and/or impose costs on our customers in the form of tariffs, duties or penalties attributable to the importation of Boeing products and services; U.S. and non-U.S. government policies, including requirements to expend a portion of program funds locally and governmental industrial cooperation or participation requirements; fluctuations in international currency exchange rates; volatility in international political and economic environments and changes in non-U.S. national priorities and budgets, which can lead to delays or fluctuations in orders; the complexity and necessity of using non-U.S. representatives and consultants; the uncertainty of the ability of non-U.S. customers to finance purchases, including the availability of financing from the Export-Import Bank of the United States; uncertainties and restrictions concerning the availability of funding credit or guarantees; imposition of domestic and international taxes, export controls, tariffs, embargoes, sanctions and other trade restrictions; the difficulty of management and operation of an enterprise spread over many countries; compliance with a variety of non-U.S. laws, as well as U.S. laws affecting the activities of U.S. companies abroad; and unforeseen developments and conditions, including terrorism, war, epidemics and international tensions and conflicts. While the impact of these factors is difficult to predict, any one or more of these factors could adversely affect our operations in the future. For example, since 2018, the U.S. and China have imposed tariffs on each other's imports. China is a very significant market for commercial airplanes and represents a significant component of our commercial airplanes backlog. Impacts from these or future potential tariffs, or deterioration in trade relations between the U.S. and one or more other countries, could have a material adverse impact on our financial position, results of operations and/or cash flows. We use estimates in accounting for many contracts and programs. Changes in our estimates could adversely affect our future financial results. Contract and program accounting require judgment relative to assessing risks, estimating revenues and costs and making assumptions for schedule and technical issues. Due to the size and nature of many of our contracts and programs, the estimation of total revenues and cost at completion is complicated and subject to many variables. Assumptions have to be made regarding the length of time to complete the contract or program because costs also include expected increases in wages and employee benefits, material prices and allocated fixed costs. Incentives or penalties related to performance on contracts are considered in estimating sales and profit rates and are recorded when there is sufficient information for us to assess anticipated performance. Supplier claims and assertions are also assessed and considered in estimating costs and profit rates. Estimates of future award fees are also included in sales and profit rates. With respect to each of our commercial aircraft programs, inventoriable production costs (including overhead), program tooling and other non-recurring costs and routine warranty costs are accumulated and charged as cost of sales by program instead of by individual units or contracts. A program consists of the estimated number of units (accounting quantity) of a product to be produced in a continuing, long-term production effort for delivery under existing and anticipated contracts limited by the ability to make reasonably dependable estimates. To establish the relationship of sales to cost of sales, program accounting requires estimates of (a) the number of units to be produced and sold in a program, (b) the period over which the units can reasonably be expected to be produced and (c) the units' expected sales prices, production costs, program tooling and other non-recurring costs, and routine warranty costs for the total program. Several factors determine accounting quantity, including firm orders, letters of intent from prospective customers and market studies. Changes to customer or model mix, production costs and rates, learning curve, changes to price escalation indices, costs of derivative aircraft, supplier performance, customer and supplier negotiations/settlements, supplier claims and/or certification issues can impact these estimates. In addition, on development programs such as the 777X, we are subject to risks with respect to the timing and conditions of aircraft certification, including potential gaps between when aircraft are certified in various jurisdictions, changes in certification processes and our estimates with respect to timing of future certifications, which could have an impact on overall program status. Any such change in estimates relating to program accounting may adversely affect future financial performance. Because of the significance of the judgments and estimation processes described above, materially different sales and profit amounts could be recorded if we used different assumptions or if the underlying circumstances were to change. Changes in underlying assumptions, circumstances or estimates may adversely affect future period financial performance. For additional information on our accounting policies for recognizing sales and profits, see our discussion under "Management's Discussion and Analysis - Critical Accounting Policies & Estimates - Accounting for Long-term Contracts/Program Accounting" on pages 51 - 54 and Note 1 to our Consolidated Financial Statements on pages 64 - 77 of this Form 10-K. We may not realize the anticipated benefits of mergers, acquisitions, joint ventures/strategic alliances or divestitures. As part of our business strategy, we may merge with or acquire businesses and/or form joint ventures and strategic alliances. Whether we realize the anticipated benefits from these acquisitions and related activities depends, in part, upon our ability to integrate the operations of the acquired business, the performance of the underlying product and service portfolio, and the performance of the management team and other personnel of the acquired operations. Accordingly, our financial results could be adversely affected by unanticipated performance issues, legacy liabilities, transaction-related charges, amortization of expenses related to intangibles, charges for impairment of long-term assets, credit guarantees, partner performance and indemnifications. Consolidations of joint ventures could also impact our reported results of operations or financial position. While we believe that we have established appropriate and adequate procedures and processes to mitigate these risks, there is no assurance that these transactions will be successful. We also may make strategic divestitures from time to time. These transactions may result in continued financial involvement in the divested businesses, such as through guarantees or other financial arrangements, following the transaction. Nonperformance by those divested businesses could affect our future financial results through additional payment obligations, higher costs or asset write-downs. Risks Related to Our Contracts We conduct a significant portion of our business pursuant to U.S. government contracts, which are subject to unique risks. In 2021, 49% of our revenues were earned pursuant to U.S. government contracts, which include FMS through the U.S. government. Business conducted pursuant to such contracts is subject to extensive procurement regulations and other unique risks. Our sales to the U.S. government are subject to extensive procurement regulations, and changes to those regulations could increase our costs. New procurement regulations, or changes to existing requirements, could increase our compliance costs or otherwise have a material impact on the operating margins of our BDS and BGS businesses. These requirements may also result in withheld payments and/or reduced future business if we fail to comply. For example, proposals to raise domestic content thresholds for our U.S. government contracts could have negative impacts on our business. Compliance costs attributable to current and potential future procurement regulations such as these could negatively impact our financial position, results of operations and/or cash flows. The U.S. government may modify, curtail or terminate one or more of our contracts. The U.S. government contracting party may modify, curtail or terminate its contracts and subcontracts with us, without prior notice and either at its convenience or for default based on performance. In addition, funding pursuant to our U.S. government contracts may be reduced or withheld as part of the U.S. Congressional appropriations process due to fiscal constraints, changes in U.S. national security strategy and/or priorities or other reasons. Further uncertainty with respect to ongoing programs could also result in the event that the U.S. government finances its operations through temporary funding measures such as "continuing resolutions" rather than full-year appropriations. Any loss or anticipated loss or reduction of expected funding and/or modification, curtailment or termination of one or more large programs could have a material adverse effect on our financial position, results of operations and/or cash flows. We are subject to U.S. government inquiries and investigations, including periodic audits of costs that we determine are reimbursable under U.S. government contracts. U.S. government agencies, including the Defense Contract Audit Agency and the Defense Contract Management Agency, routinely audit government contractors. These agencies review our performance under contracts, cost structure and compliance with applicable laws, regulations and standards, as well as the adequacy of and our compliance with our internal control systems and policies. Any costs found to be misclassified or inaccurately allocated to a specific contract will be deemed non-reimbursable, and to the extent already reimbursed, must be refunded. Any inadequacies in our systems and policies could result in withholds on billed receivables, penalties and reduced future business. Furthermore, if any audit, inquiry or investigation uncovers improper or illegal activities, we could be subject to civil and criminal penalties and administrative sanctions, including termination of contracts, forfeiture of profits, suspension of payments, fines and suspension or debarment from doing business with the U.S. government. We also could suffer reputational harm if allegations of impropriety were made against us, even if such allegations are later determined to be false. We enter into fixed-price contracts which could subject us to losses if we have cost overruns. Our BDS and BGS defense businesses generated approximately 68% and 69% of their 2021 revenues from fixed-price contracts. While fixed-price contracts enable us to benefit from performance improvements, cost reductions and efficiencies, they also subject us to the risk of reduced margins or incurring losses if we are unable to achieve estimated costs and revenues. In addition, increased compliance costs and costs due to loss of productivity due to COVID-19 may not be reimbursed. If our estimated costs exceed our estimated price, we recognize reach-forward losses which can significantly affect our reported results. For example in the fourth quarter of 2021, BDS recorded additional losses of $402 million on the KC-46A Tanker contract reflecting continued disruption in the factory and in the supply chain, including impacts of COVID-19, and an increase in costs to complete the new Remote Vision System as the customer's requirements definition has evolved. New programs could also have risk for reach-forward loss upon contract award and during the period of contract performance. The long term nature of many of our contracts makes the process of estimating costs and revenues on fixed-price contracts inherently risky. Fixed-price contracts often contain price incentives and penalties tied to performance, which can be difficult to estimate and have significant impacts on margins. In addition, some of our contracts have specific provisions relating to cost, schedule and performance. Fixed-price development contracts are generally subject to more uncertainty than fixed-price production contracts. Many of these development programs have highly complex designs. In addition, technical or quality issues that arise during development could lead to schedule delays and higher costs to complete, which could result in a material charge or otherwise adversely affect our financial condition. Examples of significant BDS fixed-price development contracts include Commercial Crew, KC-46A Tanker, T-7A Red Hawk, VC-25B Presidential Aircraft, MQ-25, and commercial and military satellites. We enter into cost-type contracts, which also carry risks. Our BDS and BGS defense businesses generated approximately 32% and 31% of their 2021 revenues from cost-type contracting arrangements. Some of these are development programs that have complex design and technical challenges. These cost-type programs typically have award or incentive fees that are subject to uncertainty and may be earned over extended periods. In these cases the associated financial risks are primarily in reduced fees, lower profit rates or program cancellation if cost, schedule or technical performance issues arise. Programs whose contracts are primarily cost-type include Ground-based Midcourse Defense (GMD), Proprietary and SLS programs. We enter into contracts that include in-orbit incentive payments that subject us to risks. Contracts in the commercial satellite industry and certain government satellite contracts include in-orbit incentive payments. These in-orbit payments may be paid over time after final satellite acceptance or paid in full prior to final satellite acceptance. In both cases, the in-orbit incentive payment is at risk if the satellite does not perform to specifications for up to 15 years after acceptance. The net present value of in-orbit incentive fees we ultimately expect to realize is recognized as revenue in the construction period. If the satellite fails to meet contractual performance criteria, customers will not be obligated to continue making in-orbit payments and/or we may be required to provide refunds to the customer and incur significant charges. Risks Related to Cybersecurity and Business Disruptions Unauthorized access to our, our customers' and/or our suppliers' information and systems could negatively impact our business. We face certain security threats, including threats to the confidentiality, availability and integrity of our data and systems. We maintain an extensive network of technical security controls, policy enforcement mechanisms, monitoring systems and management oversight in order to address these threats. While these measures are designed to prevent, detect and respond to unauthorized activity in our systems, certain types of attacks, including cyber-attacks, could result in significant financial or information losses and/or reputational harm. In addition, we manage information and information technology systems for certain customers and/or suppliers. Many of these customers and/or suppliers face similar security threats. If we cannot prevent the unauthorized access, release and/or corruption of our customers' and/or suppliers' confidential, classified or personally identifiable information, our reputation could be damaged, and/or we could face financial losses. Business disruptions could seriously affect our future sales and financial condition or increase our costs and expenses. Our business may be impacted by disruptions including threats to physical security, information technology, or cyber-attacks or failures, damaging or extreme weather (including effects of climate change), or other acts of nature and pandemics or other public health crises. Any of these disruptions could affect our internal operations or our suppliers' operations and delay delivery of products and services to our customers. Any significant production delays, or any destruction, manipulation or improper use of Boeing's or our suppliers' data, information systems or networks could impact our sales, increase our expenses and/or have an adverse effect on the reputation of Boeing and of our products and services. Risks Related to Legal and Regulatory Matters The outcome of litigation and of government inquiries and investigations involving our business is unpredictable and an adverse decision in any such matter could have a material effect on our financial position and results of operations. We are involved in a number of litigation matters. These matters may divert financial and management resources that would otherwise be used to benefit our operations. No assurances can be given that the results of these matters will be favorable to us. An adverse resolution of any of these lawsuits, or future lawsuits, could have a material impact on our financial position and results of operations. In addition, we are subject to extensive regulation under the laws of the United States and its various states, as well as other jurisdictions in which we operate. As a result, we are sometimes subject to government inquiries and investigations of our business due, among other things, to our business relationships with the U.S. government, the heavily regulated nature of our industry, and in the case of environmental proceedings, our current or past ownership of certain property. Any such inquiry or investigation could potentially result in an adverse ruling against us, which could have a material impact on our financial position, results of operations and/or cash flows. Our operations expose us to the risk of material environmental liabilities. We are subject to various U.S. federal, state, local and non-U.S. laws and regulations related to environmental protection, including the discharge, treatment, storage, disposal and remediation of hazardous substances and wastes. We could incur substantial costs, including cleanup costs, fines and civil or criminal sanctions, as well as third-party claims for property damage or personal injury, if we were to violate or become liable under environmental laws or regulations. In some cases, we are subject to such costs due to environmental impacts attributable to our current or past manufacturing operations or the operations of companies we have acquired. In other cases, we are subject to such costs due to an indemnification agreement between us and a third party relating to such environmental liabilities. In all cases, our current liabilities and ongoing cost assessments are based on current laws and regulations. New laws and regulations, more stringent enforcement of existing laws and regulations, the discovery of previously unknown contamination or the imposition of new remediation requirements could result in additional costs. For additional information relating to environmental contingencies, see Note 13 to our Consolidated Financial Statements. We may be adversely affected by global climate change or by legal, regulatory or market responses to such change. Increasing stakeholder environmental, social and governance (ESG) expectations, physical and transition risks associated with climate change, and emerging ESG regulation and policy requirements may pose risk to our market outlook, brand and reputation, financial outlook, cost of capital, global supply chain and production continuity, which may impact our ability to achieve long-term business objectives. Changes in environmental and climate change laws or regulations could lead to additional operational restrictions and compliance requirements upon us or our products, require new or additional investment in product designs, result in carbon offset investments or otherwise could negatively impact our business and/or competitive position. Increasing aircraft performance standards and requirements on manufacturing and product air pollutant emissions, especially greenhouse gas (GHG) emissions, may result in increased costs or reputational risks and could limit our ability to manufacture and/or market certain of our products at acceptable costs, or at all. Physical impacts of climate change, increasing global chemical restrictions and bans, and water and waste requirements may drive increased costs to us and our suppliers and impact our production continuity and data facilities. Finally, from time to time, in alignment with our sustainability priorities, we establish and publicly announce goals and commitments to improve our environmental performance, such as our recent operational goals in areas of GHG emissions, energy, water and waste. If we fail to achieve or improperly report on our progress toward achieving our environmental goals and commitments, the resulting negative publicity could adversely affect our reputation and/or our access to capital. Risks Related to Financing and Liquidity We may be unable to obtain debt to fund our operations and contractual commitments at competitive rates, on commercially reasonable terms or in sufficient amounts. We depend, in part, upon the issuance of debt to fund our operations and contractual commitments. In addition, our debt balances have increased significantly since 2019, driven primarily by impacts related to the 737 MAX grounding and the COVID-19 pandemic, and we expect to continue to actively manage our liquidity. Our increased debt balance has also resulted in downgrades to our credit ratings. As of December 31, 2021, our debt totaled $58.1 billion of which approximately $11.4 billion of principal payments on outstanding debt become due over the next three years. In addition, as of December 31, 2021, our airplane financing commitments totaled $12.9 billion. If we require additional funding in order to pay off existing debt, address further impacts to our business related to the 737 MAX, COVID-19, 787 production issues or broader market developments, fund outstanding financing commitments or meet other business requirements, our market liquidity may not be sufficient. These risks will be particularly acute if we are subject to further credit rating downgrades. A number of factors could cause us to incur increased borrowing costs and to have greater difficulty accessing public and private markets for debt. These factors include disruptions or declines in the global capital markets and/or a decline in our financial performance, outlook or credit ratings, including impacts described above related to the COVID-19 pandemic and/or associated changes in demand for our products and services. The occurrence of any or all of these events may adversely affect our ability to fund our operations and contractual or financing commitments. Substantial pension and other postretirement benefit obligations have a material impact on our earnings, shareholders' equity and cash flows from operations, and could have significant adverse impacts in future periods. Many of our employees have earned benefits under defined benefit pension plans. Potential pension contributions include both mandatory amounts required under the Employee Retirement Income Security Act and discretionary contributions to improve the plans' funded status. The extent of future contributions depends heavily on market factors such as the discount rate and the actual return on plan assets. We estimate future contributions to these plans using assumptions with respect to these and other items. Changes to those assumptions could have a significant effect on future contributions as well as on our annual pension costs and/or result in a significant change to shareholders' equity. For U.S. government contracts, we allocate pension costs to individual contracts based on U.S. Cost Accounting Standards which can also affect contract profitability. We also provide other postretirement benefits to certain of our employees, consisting principally of health care coverage for eligible retirees and qualifying dependents. Our estimates of future costs associated with these benefits are also subject to assumptions, including estimates of the level of medical cost increases. For a discussion regarding how our financial statements can be affected by pension and other postretirement plan accounting policies, see "Management's Discussion and Analysis - Critical Accounting Policies & Estimates - Pension Plans" on pages 54 - 55 of this Form 10-K. Although under Generally Accepted Accounting Principles in the United States of America (GAAP) the timing of periodic pension and other postretirement benefit expense and plan contributions are not directly related, the key economic factors that affect GAAP expense would also likely affect the amount of cash or stock we would contribute to our plans. Our insurance coverage may be inadequate to cover all significant risk exposures. We are exposed to liabilities that are unique to the products and services we provide. We maintain insurance for certain risks and, in some circumstances, we may receive indemnification from the U.S. government. The amount of our insurance coverage may not cover all claims or liabilities, and we may be forced to bear substantial costs. For example, liabilities arising from the use of certain of our products, such as aircraft technologies, space systems, spacecraft, satellites, missile systems, weapons, cybersecurity, border security systems, anti-terrorism technologies and/or air traffic management systems may not be insurable on commercially reasonable terms. While some of these products are shielded from liability within the U.S. under the SAFETY Act provisions of the 2002 Homeland Security Act, no such protection is available outside the U.S., potentially resulting in significant liabilities. The amount of insurance coverage we maintain may be inadequate to cover these or other claims or liabilities. A significant portion of our customer financing portfolio is concentrated among certain customers and in certain types of Boeing aircraft, which exposes us to concentration risks. A significant portion of our customer financing portfolio is concentrated among certain customers and in distinct geographic regions. Our portfolio is also concentrated by varying degrees across Boeing aircraft product types, most notably 717 and 747-8 aircraft, and among customers that we believe have less than investment-grade credit. If one or more customers holding a significant portion of our portfolio assets experiences financial difficulties or otherwise defaults on or does not renew its leases with us at their expiration, and we are unable to redeploy the aircraft on reasonable terms, or if the types of aircraft that are concentrated in our portfolio suffer greater than expected declines in value, our financial position, results of operations and/or cash flows could be materially adversely affected. Risks Related to Labor Some of our and our suppliers' workforces are represented by labor unions, which may lead to work stoppages. Approximately 47,000 employees, which constitute 33% of our total workforce, were union represented as of December 31, 2021. We experienced a work stoppage in 2008 when a labor strike halted commercial aircraft and certain BDS program production. We may experience additional work stoppages in the future, which could adversely affect our business. We cannot predict how stable our relationships, currently with 11 U.S. labor organizations and 12 non-U.S. labor organizations, will be or whether we will be able to meet the unions' requirements without impacting our financial condition. The unions may also limit our flexibility in dealing with our workforce. Union actions at suppliers can also affect us. Work stoppages and instability in our union relationships could delay the production and/or development of our products, which could strain relationships with customers and cause a loss of revenues which would adversely affect our operations. Source: SEC 10-K Filling Jan 31, 2022: Boeing Launches 777-8 Freighter to Serve Growing Demand for Cargo, Enhanced Environmental Performance WASHINGTON, Jan. 31, 2022 /PRNewswire/ -- Boeing [NYSE: BA] today launched the new 777-8 Freighter and expanded its market-leading 777X and freighter families of jetliners with an order for up to 50 aircraft from one of the world's largest cargo carriers, Qatar Airways. Qatar Airways will be the 777-8 Freighter launch customer with a firm order for 34 jets and options for 16 more, a total purchase that would be worth more than $20 billion at current list prices and the largest freighter commitment in Boeing history by value. The order also supports hundreds of U.S. suppliers from across 38 states, will sustain more than 35,000 U.S. jobs, and provide the American economy with an annual estimated economic impact of $2.6 billion during the contract's delivery period. Featuring advanced technology from the new 777X family and the proven performance of the market-leading 777 Freighter, the 777-8 Freighter will be the largest, longest-range and most capable twin-engine freighter in the industry. With payload capacity nearly identical to the 747-400 Freighter and a 25% improvement in fuel efficiency, emissions and operating costs, the 777-8 Freighter will enable a more sustainable and profitable business for operators. At the White House, Commerce Secretary Gina Raimondo, His Excellency Ambassador Sheikh Mishaal bin Hamad Al Thani, Director of the White House National Economic Council Brian Deese, and Boeing President and CEO Dave Calhoun joined the formal signing by Boeing Commercial Airplanes President and CEO Stan Deal and Qatar Airways Group Chief Executive, His Excellency Mr. Akbar Al Baker, who reaffirmed the airline's commitment to the 777X family with the record-breaking 777-8 Freighter deal. First delivery of the new freighter is anticipated in 2027. "Boeing has a long history of building market-leading freighter aircraft and Qatar Airways is honored to have the opportunity to be the launch customer for the 777-8 Freighter, an aircraft which will not only allow us to further enhance our product offering for our customers, but also help us meet our objectives to deliver a sustainable future for our business," said Mr. Akbar Al Baker. "Today marks a great day in the ever-building and strong relationship between Qatar Airways and Boeing. We certainly push Boeing hard to deliver upon our expectations, and the team at Boeing consistently strives to meet and exceed our expectations, giving the opportunity for us to be here today to launch the most significant new freighter aircraft for a generation." "We are delighted to launch Boeing's next great cargo airplane - the 777-8 Freighter - with Qatar Airways, one of the world's largest cargo carriers and our partner since the airline began operations 25 years ago," said Deal. "Our team is ready to create an airplane that will serve them well for many decades. Qatar Airways' selection of the efficient 777-8 Freighter is a testament to our commitment to provide freighters with market-leading capacity, reliability and efficiency." Deal added, "We are proud that Boeing provides over 90% of the world's dedicated freighter capacity. With global supply chains under pressure and high demand for e-commerce, the performance and capabilities of the fleet is more important than ever." Boeing is designing the 777-8 Freighter, the newest member of the 777X family, to maximize efficiency and environmental performance. The widebody family features engineering design improvements and innovative technologies, including a new carbon-fiber composite wing and new fuel-efficient engines. With a range of 4,410 nautical miles (8,167 km), the 777-8 Freighter has a maximum structural payload of 118 tonnes, allowing customers to make fewer stops and reduce landing fees on long-haul routes. Boeing will build the 777-8 Freighter in its Everett, Wash., factory. The company has invested more than $1 billion into the Everett site to support 777X production and sustain thousands of local jobs for decades to come. As part of today's agreement, Qatar Airways will convert 20 of its 60 777X family orders to the 777-8 Freighter. Qatar Airways is also ordering two current 777 Freighters - Boeing's best-selling freighter of all time - to capitalize on the buoyant air cargo market. Customers from around the world have ordered more than 300 777 Freighters since the program began in 2005. Boeing and Qatar Airways also signed a Memorandum of Understanding for a firm order of 25 737-10 aircraft and purchase rights for 25 additional airplanes. The total value of this 737-10 commitment is nearly $7 billion at current list prices. The largest model in the MAX family, the 737-10 seats up to 230 passengers in a single-class configuration and can fly up to 3,300 miles. The fuel-efficient jet can cover 99% of single-aisle routes around the world. "Qatar Airways very much looks forward to adding the 737-10 to its fleet, with this new variant of the 737 being ideally suited to our short-haul network, allowing us an opportunity to further enhance our product offering for our customers, modernize our fleet and operate the most efficient aircraft in its category," said Akbar Al Baker. "The largest member of the 737 family, the 737-10 is an airplane that offers more capacity, greater fuel efficiency and the best per-seat economics of any single-aisle airplane," said Deal. "We are proud of our partnership with Qatar Airways and honored that this world-class airline continues to put its trust in our Boeing team." An international carrier with a passenger fleet including Boeing 777 and 787 Dreamliner airplanes and an all-Boeing cargo fleet of 747 and 777 freighters, Qatar Airways serves more than 140 key business and leisure destinations worldwide. Source: Company Website Jan 28, 2022: Boeing CEO Updates Employees on Fourth-Quarter Results CHICAGO, Jan. 26, 2022 -Boeing President and CEO Dave Calhoun shared the following message with employees today addressing the company's fourth-quarter results: As we share our fourth-quarter results, I want to thank you for your hard work and resilience. 2021 was a key rebuilding year for us, and together, we overcame significant hurdles. While we have more work to do, I am confident that we are well positioned to accelerate our progress in 2022 and beyond. The industry's mounting recovery has spurred solid commercial airplane demand. Order activity picked up significantly, particularly for the 737 MAX. In total, we booked over 900 gross commercial airplane orders including approximately 750 orders for the 737 family. The 737 MAX is now safely flying in nearly every jurisdiction around the globe and the fleet is performing very well. With about 1,600 flights daily and more than 300,000 revenue flights completed since late 2020, the fleet is delivering reliability equal to or better than any fleet flying. And with over 800,000 total flight hours since late 2020, the fleet has now flown more flight hours than it had prior to the initial grounding. We also delivered 245 737 MAX airplanes in 2021, and we've steadily increased production with a focus on safety and quality. We began 2021 at very low production rates, and today, are producing at 26 airplanes per month on our way to 31 per month early this year. Looking back at where we started, 2021 was a pivotal year for the 737 team. We're now applying that same disciplined and detailed focus to the 787 program. As you know, we are progressing through a comprehensive effort to ensure every airplane in our production system conforms to our exacting specifications. This effort continues to impact our deliveries and our financial results - but we are fully confident it is the right thing to do. I view the financial impacts of this work as a long-term investment in a program that has significant runway ahead. We are taking the time now to ensure we're positioned well as widebody demand recovers. We'll continue to keep you updated as we progress toward returning to 787 deliveries. As cargo demand expands, we also booked record orders for new and converted Boeing freighters, including 84 orders for our 767, 777 and 747 freighters. Our Global Services team also announced 10 new converted freighter lines to meet the growing demand. Overall, our Global Services business showed great resilience, in part due to our well-balanced portfolio of both government and commercial offerings. This quarter, the team delivered our 50th 767-300 converted freighter and captured new commercial and government business valued at $6 billion. As the commercial market recovers, BGS is well positioned for growth in 2022. In our defense and space business, we secured key orders and delivered on critical customer milestones. We completed the first carrier tests with the U.S. Navy for the MQ-25, started flight testing on the second uncrewed Loyal Wingman aircraft, and delivered 47 total aircraft including the first KC-46 for Japan and Norway's first P-8A Poseidon. We also generated $7 billion in orders in the quarter, extending our BDS backlog to $60 billion. We took another key step in our overall recovery, notably in our financial performance, by generating positive cash flow in the fourth quarter, which represents our first positive cash quarter since early 2019. At the same time, the ongoing 787 activities resulted in financial charges that significantly impacted our earnings. While we never want to disappoint our customers or miss expectations, the work we're putting in now will build stability and predictability going forward. And looking to our future, we're sustaining and expanding key investments, including in our people, in sustainability, advanced manufacturing, digital engineering, supply chain capability, technology development and partnerships. We'll stay squarely focused on safety, quality and transparency as we strengthen our culture and rebuild trust each day. While challenges remain, I am confident in our future. Our market is resilient, our team is world-class and we are taking the right, tough actions today to position ourselves for success. Thank you for all you continue to do to support our customers, our communities and each other. Source: Company Website Jan 27, 2022: China Airlines and Boeing Announce Order for Four 777 Freighters SEATTLE, Jan. 27, 2022 /PRNewswire/ -- Boeing [NYSE: BA] and China Airlines today announced the carrier has ordered four 777 Freighters, adding to its extensive fleet of Boeing airplanes. Valued at $1.4 billion at list prices, the order will enable the airline to capture new market opportunities as global air cargo demand continues to grow. "The 777 Freighter has played a critical role in our efforts to maintain profitability during the pandemic, and these additional airplanes will be an integral part of our long-term growth strategy," said China Airlines Chairman Hsieh Su-Chien. "We are excited to add more 777 Freighters due to their operational efficiency and reliability. Our fleet modernization program will enable us to deliver added value to our customers, especially as the global supply chain continues to evolve." The 777 Freighter is the world's largest, most capable twin-engine Freighter. It has a range of 4,970 nautical miles (9,200 km) with a maximum revenue payload of 102 tonnes (224,900 lbs), while contributing to a 17% reduction in fuel use and CO2 emissions per tonne compared to prior generation airplanes. In addition, the 777F will allow China Airlines to make fewer stops on long-haul routes, further reducing associated landing fees and resulting in the lowest trip cost of any large freighter. "We are thrilled that China Airlines has again selected the 777 Freighter to serve as the backbone of its world-class air cargo fleet," said Ihssane Mounir, senior vice president of Commercial Sales and Marketing. "The market-leading capabilities of the 777 Freighter provide added capacity, improved efficiency and greater value to China Airlines' customers, enabling the carrier to meet air cargo demand and position itself for long-term growth." In 2021, China Airlines' air cargo revenue was up 186% above the pre-pandemic year of 2019, which nearly balanced out a 96% drop in passenger revenue. Last year China Airlines Cargo recorded the best year in its history - over TWD 100 billion (USD $3.6 billion) in revenue - by leveraging its existing all-Boeing fleet of (18) 747-400 Freighters and (3) 777 Freighters. With (3) 777 Freighters already on order, China Airlines' 777 Freighter is the perfect complement to the airline's existing 747-400 Freighter fleet, seamlessly accommodating the 3-meter (10-foot) tall pallets and maximizing flexibility for its air cargo operations. Source: Company Website Jan 26, 2022: Boeing Reports Fourth-Quarter Results CHICAGO, Jan. 26, 2022 /PRNewswire/ -- Fourth Quarter 2021 Continued global return to service of 737 MAX, including progress in China Revenue of $14.8 billion; operating cash flow of $0.7 billion 787 program recorded $3.5 billion pre-tax non-cash charge; focused on actions required to resume deliveries GAAP loss per share of ($7.02) and core (non-GAAP)* loss per share of ($7.69) Full-Year 2021 Revenue of $62.3 billion; operating cash flow of ($3.4) billion; cash and marketable securities of $16.2 billion GAAP loss per share of ($7.15) and core (non-GAAP)* loss per share of ($9.44) Total backlog of $377 billion and added 535 net commercial orders Focused on safety, quality and operational stability Source: Company Website Jan 26, 2022: Bell Boeing Improve Maintainability of V-22 AMARILLO, TX, Jan. 26, 2022- Bell, a Textron Inc. (NYSE: TXT) company, has completed the first Nacelle Improvements Modification on an Air Force CV-22 Osprey. The aircraft is part of an ongoing upgrade by Bell and Boeing (NYSE: BA) to improve the wiring components within the nacelles and to change the structure in order to improve maintainability. The Osprey returned to the 20th Special Operations Squadron at Cannon Air Force Base on Dec. 13, 2021. The V-22 nacelles house critical power components to the V-22's vertical take-off and landing capabilities and transition to forward flight. This program benefits the V-22 fleet maintainers and operators by reducing maintenance time and costs while simultaneously enhancing flying readiness rates. Bell completed the modifications at the Amarillo Assembly Center (AAC), which actively produces new V-22s for the Department of Defense. The AAC employs more than 500 employees to manufacture new and modify existing military aircraft. Completing nacelle improvements at the AAC utilizes Bell artisans with the most experience removing and replacing nacelles. "Speed, range, and versatility have always been fundamental to the Osprey, and that includes speed of maintenance," said Kurt Fuller, V-22 program director and Bell vice president. "The incorporated nacelle improvements help ensure the Osprey continues to outpace adversaries both operationally and sustainably." The V-22 Osprey regularly performs missions that would typically require both fixed-wing and rotary-wing, reducing the overall logistics and maintenance footprint for operations. The CV-22 is a special operation variant of the Osprey that regularly operates in high-demand environments, including long-range infiltration and exfiltration missions. The Marine Corps and Navy have also cited interest in nacelle improvements for the MV-22 and CMV-22B variants. "The capabilities of the V-22 today are unmatched," said Shane Openshaw, V-22 deputy director and Boeing vice president. "These nacelle upgrades help ensure the Osprey remains a highly capable and reliable aircraft supporting our customers' missions for many years to come." Bell Boeing completed the first aircraft in December 2021 and is underway with the second CV-22. About Bell Thinking above and beyond is what we do. For more than 85 years, we've been reimagining the experience of flight - and where it can take us.We are pioneers. We were the first to break the sound barrier and to certify a commercial helicopter. We were aboard NASA's first lunar mission and brought advanced tiltrotor systems to market. Today, we're defining the future of advanced air mobility. Headquartered in Fort Worth, Texas - as a wholly-owned subsidiary of Textron Inc., - we have strategic locations around the globe. And with nearly one quarter of our workforce having served, helping our military achieve their missions is a passion of ours. Above all, our breakthrough innovations deliver exceptional experiences to our customers. Efficiently. Reliably. And always, with safety at the forefront Source: Company Website Jan 21, 2022: Boeing Expands UK Military Support with Apache AH-64E Long-Term Services Contract WATTISHAM FLYING STATION, United Kingdom, Jan. 21, 2022 - Boeing [NYSE: BA] and the Ministry of Defence (MOD) have signed an agreement for Boeing to provide long-term training, support and sustainment for the British Army's new fleet of 50 Apache AH-64E helicopters. The announcement was made by Minster for Defence Procurement, Jeremy Quin MP, as he visited Wattisham Flying Station to see the Apache AH-64E. "There can be no doubt these impressive Apache helicopters will help the Army sustain its battle-winning capabilities in future operations", said Defence Procurement Minister, Jeremy Quin. "In addition to its vital defence purpose, this cutting-edge technology will create and support hundreds of UK jobs." Under the new $348 million Long Term Training and Support Services (LTTSS) contract, Boeing will work closely with the British Army to provide maintenance and engineering support, supply chain and logistics management at Wattisham. Boeing will also deliver aircrew and maintainer training from its advanced facility at Middle Wallop. The new agreement, which will run until 2040, will create more than 200 jobs in the UK during the initial four-years, including more than 165 at Army Aviation Centre Middle Wallop and 45 at Wattisham Flying Station, plus dozens more with suppliers in the UK. Boeing already has more than 40 employees working alongside Army Air Corps personnel providing training for the Mk1 Apache. In addition to the new Boeing roles, the training and support for the new Apache model will bring new roles and opportunities for Boeing's UK supply chain. Yeovil-based Kuehne & Nagel will provide a Warehouse Management service at Wattisham with a dispersed store at Middle Wallop, creating 45 new jobs. H&S Aviation will carry out the repair and overhaul of the engines in Portsmouth, under subcontract to GE Aviation. Cheltenham-based Pennant will also provide additional simulated training systems to Boeing as part of the contract, delivering several new and upgraded Part Task Trainers with E model compatibility, sustaining around 50 highly-skilled jobs in the local area. The AH-64E is the most advanced variant of the Apache. It is designed and equipped with an open systems architecture, including the latest communications, navigation, sensor and weapon systems. It also features advanced digital connectivity, a Joint Tactical Information Distribution System, capability to control unmanned aerial vehicles (UAVs) and new composite main rotor blades. With 14 of the new variant already in the UK, the new Apache AH-64E fleet will grow to 50, with deliveries expected to be completed in 2024. "We are proud to deliver the necessary support needed to ensure mission readiness and optimise the full capability of the AH-64E Apache fleet, which will provide a significant uplift in capability to the British Army," said Anna Keeling, managing director of Boeing Defence UK. "The new Apaches join the Poseidon fleet at RAF Lossiemouth, the Wedgetail modification work in Birmingham, Chinooks undergoing major upgrades across Hampshire, and the C-17s at RAF Brize Norton underpinning the UK's strategic airlift capability - all Boeing platforms, serving the UK's armed forces and providing economic benefits up and down the country." Two of three Longbow Crew Trainer simulated devices for the E model are already in the UK. The first was declared "ready for training" at the end of 2020 and the second is undergoing testing and installation. The third and final is scheduled to be delivered in 2022. Situated with front-line Army Air Corps Apache squadrons, the devices will play a key role in transitioning the crews to the new variant. Source: Company Website Jan 12, 2022: Boeing Expands Partnerships with German Industry on F/A-18 Super Hornet and EA-18G Growler BERLIN, Jan. 12, 2022 - Boeing [NYSE: BA] today announced the expansion of its industrial partnership strategy in Germany in support of the F/A-18 Super Hornet and EA-18G Growler offering to the Bundeswehr. A Request for Information (RFI) was issued to more than 10 German companies to solicit bids. German industry partners will play a significant role in providing support equipment, logistics and overall maintenance, parts, local sustainment programs, training, and other relevant repair and overhaul solutions for Germany's potential Super Hornet and Growler fleet. German industry will also have the opportunity to participate in the development of the Next Generation Jammer for the EA-18G Growler. The RFIs are the first step towards in-country sustainment worth approximately $4 billion USD/ EUR3.5 billion over the lifecycle of the programs, and will contribute additional economic opportunity and value to the German economy as the programs evolve. "Germany is home to outstanding aerospace expertise and innovation and we look forward to expanding our partnerships locally for Germany's F/A-18 Super Hornet and EA-18G Growler fleet," said Dr. Michael Haidinger, president of Boeing Germany, Central and Eastern Europe, Benelux and the Nordics. "With this partner expansion strategy, we are laying the foundation for new business opportunities for German industry champions, high-skilled new jobs and long-term economic growth." The F/A-18 Super Hornet Block III provides advanced, proven capabilities, as well as low life-cycle and acquisition costs ideally suited to meet Germany's fighter requirements, including the dual capable commitments to NATO. With the lowest operating costs of all U.S. tactical aircraft in production ($19,500 USD / EUR17,000 per flight hour, source: U.S. DoD Special Acquisition Report), combined with low procurement costs, the Super Hornet saves billions of dollars/Euros over its entire service life of +10,000 flight hours. This makes the Super Hornet the most cost-effective solution for the German Luftwaffe. The EA-18G Growler provides full spectrum protection, jamming radars and disrupting communications, and the combination of Super Hornet Block III and EA-18G Growler will give the Luftwaffe unmatched capability in both air-to-air and surface-to-air missions. This has been demonstrated the last fifteen years, as the EA-18G Growler has spanned the globe in support of all major and rapid reaction actions. Five EA-18G Growler Squadrons uniquely support the US Air Force and US Navy operations. Source: Company Website Jan 11, 2022: Boeing Announces Fourth-Quarter Deliveries CHICAGO, Jan. 11, 2022 /PRNewswire/ -- The Boeing Company [NYSE: BA] announced today major program deliveries across its commercial and defense operations for the fourth quarter of 2021. The company will provide detailed fourth quarter financial results on January 26. Major program deliveries during the fourth quarter were as follows: Source: Company Website Jan 06, 2022: Atlas Air Worldwide Purchases Four Boeing 777 Freighters SEATTLE, Jan. 6, 2022 /PRNewswire/ -- Boeing [NYSE: BA] and Atlas Air Worldwide today announced an order for four 777 Freighters. The order, placed in December, rounds out a record-setting 2021 for Boeing's freighter family including new-production and converted models. Boeing has forecast that the global freighter fleet will grow by 70% in the next 20 years, with freight carriers such as Atlas Air supporting a rapidly expanding global e-commerce business and evolving supply chains. "We are excited to expand our fleet and service offerings for our existing and prospective customers with these four new 777s. With the best team in the industry as well as our focus on innovation and prudent fleet management, Atlas is serving the evolving needs of the global supply chain and delivering value for our customers," said John W. Dietrich, Atlas Air Worldwide president and CEO. Boeing's market-leading 777 Freighter is the world's largest, longest-range and most capable twin-engine freighter, with the lowest trip cost and highest reliability of any large freighter. With a range of 4,970 nmi (9,200km), the 777 Freighter can carry a maximum revenue payload of 102 tonnes (224,900 lb), while reducing fuel use and CO2 emissions compared to prior airplanes. This capability and exceptional efficiency translate into significant savings for cargo operators, with fewer stops and associated landing fees. "We are honored that Atlas Air Worldwide, as a global leader in airfreight, has once again selected to grow with Boeing and our freighter family. These new 777 Freighters provide Atlas with more capacity, fuel efficiency and operational flexibility for its customers," said Ihssane Mounir, Boeing senior vice president of Commercial Sales and Marketing. "As air cargo demand continues to grow, we're confident that the efficiency, capability and flexibility of our freighter family will meet customer needs now and in the future." Through November, Boeing had surpassed the previous freighter record including 80 orders for new production freighters and more than 80 orders for converted models. The company will announce full-year 2021 orders and deliveries on January 11. Atlas Air currently has 14 777s and is the world's largest operator of 747 Freighters, with 49 in its fleet. These two models, in particular, are designed to partner seamlessly, enabling operators to transfer tall and outsized cargo loads easily between the two on 3-meter (10-foot) tall pallets. The cargo and passenger carrier also operates a fleet of 767 and 737 airplanes. Source: Company Website Jan 05, 2022: Boeing to Release Fourth-Quarter Results on January 26 CHICAGO, Jan. 5, 2022 /PRNewswire/ -- The Boeing Company (NYSE: BA) will release its financial results for the fourth quarter of 2021 on Wednesday, January 26. President and Chief Executive Officer David Calhoun and Executive Vice President and Chief Financial Officer Brian West will discuss the results and company outlook during a conference call that day at 10:30 a.m. ET. The event will be webcast at http://services.choruscall.com/links/ba220126.html The event can also be accessed by dialing 1-877-336-4436 within the U.S. and by dialing 234-720-6984 outside of the U.S. The passcode for both is 3750106. Individuals should check the webcast site prior to the session to ensure their computers can access the audio stream and slide presentation. Instructions for obtaining the required free downloadable software will be posted on the site. The Boeing news release and presentation materials will be posted to the Investors section of www.boeing.com prior to the event. Source: Company Website Jan 05, 2022: Boeing: Allegiant Air Orders Up to 100 737 MAX Jets SEATTLE, Jan. 5, 2022 /PRNewswire/ -- Boeing [NYSE:BA] and Allegiant Air today announced an order for 50 737 MAX jets, with options for 50 additional airplanes. In Boeing's first U.S. ultra-low cost carrier (ULCC) deal, Allegiant selected two models - the 737-7 and 737-8-200 - in the 737 MAX family, which provide the lowest seat-mile costs for a single-aisle airplane and high-dispatch reliability. "Our approach to fleet has always been opportunistic, and this exciting transaction with Boeing is no exception," said Maurice J. Gallagher, Jr., Allegiant chairman and CEO. "While the heart of our strategy continues to center on previously-owned aircraft, the infusion of up to 100 direct-from-the-manufacturer 737s will bring numerous benefits for the future - including flexibility for capacity growth and aircraft retirements, significant environmental benefits, and modern configuration and cabin features our customers will appreciate." With commonality and improved fuel efficiency, the 737 MAX family enables airlines to optimize their fleets across a broad range of missions. The 737-7 provides low-operating costs that enable carriers to open new routes with less economic risk, and the larger 737-8-200 offers added revenue potential and is right-sized for ULCC market expansion. Compared to Allegiant's current fleet, the new 737 models will reduce fuel use and carbon emissions by 20%. "We are thrilled that Allegiant has selected Boeing and the 737 MAX as they position themselves for future growth, improved efficiency and operational cost performance." said Stan Deal, Boeing Commercial Airplanes president and CEO. "This deal further validates the economics of the 737 MAX family in the ULCC market and we're excited to stand alongside Allegiant as they integrate these new airplanes into their fleet." Boeing and Allegiant will partner on entry-into-service support, enabling a smooth transition as the carrier adds the 737 into its operation. Allegiant will also utilize a suite of Boeing Global Services digital tools to further enhance operational efficiency. Allegiant currently operates a fleet of 108 Airbus A319 and A320 airplanes. Source: Company Website 2021 Dec 31, 2021: Quarterly Activities Report: Boeing Cash Balance increases 2.8% As per a report dated December 31, 2021 the Cash Burn of operating activities was $3,416,000,000 for the twelve months ended December 31, 2021. This corresponds to an average Cash Burn Rate of $284,666,667 per month. To support this Cash Burn Rate, the cash balance of $8,052,000,000 as at December 31, 2021 should be adequate till May 08, 2024. The cash runway defined by the length of time to run out of money if it kept spending at its current rate of cash burn is 2 years and 3 months from today's date.
Dec 31, 2021: Boeing: File SEC Form 10-Q - Management's Discussion and Analysis 10-Q Management's Discussion and Analysis of Financial Condition and Results of Operations Consolidated Results of Operations and Financial Condition Overview We are a global market leader in the design, development, manufacture, sale, service and support of commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems and services. We are one of the two major manufacturers of 100+ seat airplanes for the worldwide commercial airline industry and one of the largest defense contractors in the U.S. While our principal operations are in the U.S., we conduct operations in an expanding number of countries and rely on an extensive network of non-U.S. partners, key suppliers and subcontractors. Our strategy is centered on successful execution in healthy core businesses - Commercial Airplanes (BCA), Defense, Space & Security (BDS) and Global Services (BGS) - supplemented and supported by Boeing Capital (BCC). Taken together, these core businesses have historically generated substantial earnings and cash flow that permit us to invest in new products and services. We focus on producing the products and providing the services that the market demands, and continue to find new ways to improve efficiency and quality to provide a fair return for our shareholders. BCA is committed to being the leader in commercial aviation by offering airplanes and services that deliver superior design, safety, efficiency and value to customers around the world. BDS integrates its resources in defense, intelligence, communications, security, space and services to deliver capability-driven solutions to customers at reduced costs. Our BDS strategy is to leverage our core businesses to capture key next-generation programs while expanding our presence in adjacent and international markets, underscored by an intense focus on growth and productivity. BGS provides support for commercial and defense through innovative, comprehensive and cost-competitive product and service solutions. BCC facilitates, arranges, structures and provides selective financing solutions for our Boeing customers. Business Environment and Trends The global outbreak of COVID-19, 787 production issues and associated rework, and the residual impacts of the 737 MAX grounding continued to have significant adverse impacts on our business in 2021. The COVID-19 pandemic has caused an unprecedented shock to demand for air travel, creating a tremendous challenge for our customers, our business and the entire commercial aerospace manufacturing and services sector. The latest International Air Transport Association (IATA) release reported that passenger traffic in 2021 recovered to approximately 40% of 2019 levels, as international markets saw continued reopening challenges. Additionally, global economic activity is improving, but continues to be impacted by COVID-19, and governments continue to restrict travel to contain the spread of the virus. While recovery is accelerating, we continue to expect that it will remain uneven as travel restrictions and varying regional travel protocols continue to impact air travel. Generally, we continue to expect domestic travel to recover faster than international travel. As a result, we expect the narrow-body market to recover faster than the wide-body market. Also, the pace of the commercial market recovery will be heavily dependent on COVID-19 infection rates, vaccination rates, and government travel and other restrictions on trade and commercial activity. Demand for dedicated freighters continues to be strong, underpinned by a strong recovery in global trade and overall air cargo growth. Overall cargo capacity remains challenged given the large impact that COVID-19 has had on international passenger operations, which also carry cargo. Airline financial performance, which also plays a role in the demand for new capacity, has been adversely impacted by the COVID-19 pandemic. According to IATA, net losses for the airline industry were $138 billion in 2020 and are expected to be approximately $52 billion in 2021. Our customers are taking actions to combat the effects of the COVID-19 pandemic on the market by preserving liquidity. This comes in many forms, such as deferrals of advances and other payments to suppliers, deferrals of deliveries, reduced spending on services and, in some cases, cancellation of orders. While the outlook is improving and we have seen an increase in new orders in 2021, we continue to face a challenging environment in the near- to medium-term as airlines have adjusted to reduced traffic, which in turn has resulted in lower demand for commercial aerospace products and services. The current environment is also affecting the financial viability of some airlines. We continue to expect commercial air travel to return to 2019 levels in 2023 to 2024. We expect it will take a few years beyond that for the industry to return to long-term trend growth. To balance the supply and demand given the COVID-19 shock and to preserve our long-term potential and competitiveness, we have reduced the production rates of several of our BCA programs. These rate decisions are based on our ongoing assessments of the demand environment and availability of aircraft financing. There is significant uncertainty with respect to when commercial air traffic levels will recover, and whether, and at what point, capacity will return to and/or exceed pre-COVID-19 levels. During the fourth quarter of 2020, we made adjustments to our estimates regarding timing of 777X entry into service and market demand. We continue to anticipate that the first 777X delivery will occur in late 2023. We will closely monitor the key factors that affect backlog and future demand for each of our commercial aircraft programs, including customers' evolving fleet plans, the wide-body replacement cycle and the cargo market. We will maintain a disciplined rate management process and make adjustments as appropriate in the future. Notwithstanding the changes we have made to production rates, risk remains that further reductions will be required. Additionally, if we are unable to make timely deliveries of the large number of aircraft in inventory as of December 31, 2021, future revenues, earnings and cash flows will be adversely impacted. Deliveries of the 737 MAX resumed in the fourth quarter of 2020, when the Federal Aviation Administration (FAA) rescinded the order that grounded 737 MAX aircraft in the U.S. In addition, other non-U.S. civil aviation authorities, including the Brazilian National Civil Aviation Agency, Transport Canada and the European Union Aviation Safety Agency have subsequently approved return of operations, allowing us to resume deliveries in those jurisdictions. Over 185 countries have approved the resumption of 737 MAX operations. The Civil Aviation Administration of China issued an airworthiness directive in the fourth quarter of 2021 outlining actions required for airlines to return to service. We expect 737 MAX deliveries to China to resume in 2022, subject to final regulatory approvals, although risk remains around the timing and rate of those deliveries. Orders to suspend operations of 737 MAX aircraft from non-U.S. civil aviation authorities are still in effect in a small number of countries. Deliveries and production have also been impacted by production issues and associated rework. For example, deliveries of the 787 are currently paused and the production rate has been reduced while we focus on rework of undelivered aircraft and continue to engage in detailed discussions with the FAA regarding required actions for resuming deliveries. Risk remains that these issues may continue to impact the timing of airplane deliveries in inventory and/or our ability to achieve planned production rates. Revenues, earnings and cash flows will continue to be impacted until we are able to resume timely deliveries. The long-term outlook for the industry remains positive due to the fundamental drivers of air travel demand: economic growth, increasing propensity to travel due to increased trade, globalization and improved airline services driven by liberalization of air traffic rights between countries. The shock from COVID-19 has reduced the near- to medium-term demand, but our Commercial Market Outlook forecast projects a 4% growth rate for passenger and cargo traffic over a 20 year period. Based on long-term global economic growth projections of 2.7% average annual gross domestic product (GDP) growth, we project demand for approximately 43,610 new airplanes over the next 20 years. The industry remains vulnerable to exogenous developments including fuel price spikes, credit market shocks, acts of terrorism, natural disasters, conflicts, epidemics, pandemics and increased global environmental regulations. A Continuing Resolution (CR), enacted on December 3, 2021, continues funding for the federal government at FY21 appropriated levels through February 18, 2022. Congress and the President must enact either full-year FY22 appropriations bills or an additional CR to fund government departments and agencies beyond February 18, 2022 or a government shutdown could result, which may impact the Company's operations. At BGS, while the outlook is improving, we are continuing to see a direct impact on our commercial supply chain business as fewer flights and more aircraft parked result in a decreased demand for our parts and logistics offerings. Additionally, our commercial customers are curtailing discretionary spending, such as modifications and upgrades, and focusing on required maintenance. Similar to BCA, we expect a multi-year recovery period for the commercial services business. The demand outlook for our government services business remains stable; government services comprises approximately half of BGS revenue, which is unchanged from pre-pandemic levels. At BDS, we continue to see a healthy market with solid demand for our major platforms and programs both domestically and internationally. However, while we continue to experience near-term production disruptions and inefficiencies due to COVID-19 impacts, we saw improvements in 2021. In addition, we are experiencing some supply chain shortages. Our suppliers are also experiencing liquidity pressures and disruptions to their operations as a result of COVID-19. We continue to monitor the health and stability of the supply chain as we ramp up production. These measures and disruptions have reduced overall productivity and adversely impacted our financial position, results of operations and cash flows. We continue to transform and improve our business processes. These activities are not intended to constrain our capacity but to enable the Company to emerge stronger and be more resilient when the market recovers. We expect that successful execution of these measures will improve near-term liquidity and long-term cost competitiveness. Additional Considerations Global Trade We continually monitor the global trade environment in response to geopolitical economic developments, as well as changes in tariffs, trade agreements or sanctions that may impact the company. The global economy continues to experience significant adverse impacts due to the COVID-19 pandemic, including a decline in overall trade in general and in aerospace in particular. There is a great deal of uncertainty regarding the duration, scale and localization of these impacts to the global economy and governments are enacting a wide range of responses to mitigate the unfolding economic impacts. We are closely monitoring the current impact and potential future economic consequences of COVID-19 to the global economy, the aerospace sector and our Company. These adverse economic impacts have resulted in fewer orders than previously anticipated for our commercial aircraft. The current state of U.S.-China relations remains a significant watch item. China is a very significant market for commercial airplanes and represents a significant component of our commercial airplanes backlog. Since 2018, the U.S. and China imposed an escalating series of tariffs on each other's imports. Certain aircraft parts and components that Boeing procures are subject to these tariffs. The U.S. and China entered into a Phase I agreement in January 2020. However, as of December 31, 2021, implementation of this agreement is incomplete and overall diplomatic relations between the U.S. and China have deteriorated. We continue monitoring developments for potential adverse impacts to the Company. Beginning in June 2018, the U.S. Government has imposed tariffs on steel and aluminum imports. In response to these tariffs, several major U.S. trading partners have imposed, or announced their intention to impose, tariffs on U.S. goods. In May 2019, the U.S. Government, Mexico and Canada reached an agreement to end the steel and aluminum tariffs between these countries. Implementation of the U.S./Mexico/Canada Free Trade Agreement (USMCA) will also result in lower tariffs. In October 2021, the U.S. and European Union (EU) announced an agreement to ease steel and aluminum tariffs. We continue to monitor the potential for any extra costs that may result from the remaining global tariffs. The current status of U.S.-Russia relations is creating an adverse climate for our business. The U.S. Government continues to impose and/or consider imposing sanctions on certain businesses and individuals in Russia. We continue to monitor and evaluate additional sanctions and export restrictions that may be imposed by the U.S. Government and any responses from Russia that could directly affect our supply chain, business partners or customers. We also continue to support the 737 MAX return to service in Russia. The U.S. and EU have been engaged in two long-running disputes at the World Trade Organization (WTO) relating to large civil aircraft. As part of those disputes, in October 2019, the WTO authorized the U.S. to impose approximately $7.50 billion in annual tariffs on EU products in connection with the EU's provision of eight instances of launch aid subsidies to Airbus. Following this authorization, the U.S. began to impose 15% tariffs on new Airbus airplanes imported into the U.S. as well as fuselages that Airbus manufactures in Europe and imports into the U.S. In October 2020, the WTO authorized the EU to impose approximately $3.99 billion in annual tariffs on U.S. products in connection with a tax incentive used by Boeing in Washington state that has since been repealed. Shortly thereafter, the EU began to impose 15% tariffs on Boeing airplanes imported into the EU. On June 15, 2021, the U.S. and EU announced that they had reached a cooperative framework to address the large civil aircraft disputes. As part of the framework, among other items, both sides announced an intent to continue to suspend tariffs related to the disputes for five years. The U.S. and U.K. announced a similar agreement on June 17, 2021. Segment Results of Operations and Financial Condition Commercial Airplanes Business Environment and Trends Airline Industry Environment See Overview to Management's Discussion and Analysis of Financial Condition and Results of Operations for a discussion of the impacts of COVID-19 on the airline industry environment. Industry Competitiveness The industry continues to adjust to the unprecedented COVID-19 shock and subsequent economic impact, government restrictions and new regulations. The commercial airplane market and the airline industry both remain extremely competitive. While the impacts and responses have varied globally, the reduction of demand and disruption in production has adversely impacted most manufacturers in the commercial airplane industry. Continued access to global markets remains vital to our ability to fully realize our sales potential and long-term investment returns. Approximately 80% of Commercial Airplanes' total backlog, in dollar terms, is with non-U.S. airlines. We face aggressive international competitors who are intent on increasing their market share. They offer competitive products and have access to most of the same customers and suppliers. The grounding of the 737 MAX and the associated suspension of 737 MAX deliveries in multiple jurisdictions significantly reduced our market share with respect to deliveries of single aisle aircraft in 2019, 2020 and 2021 and may provide competitors with an opportunity to obtain more orders and increase market share. With government support, Airbus has historically invested heavily to create a family of products to compete with ours. After the acquisition of a majority share of Bombardier's C Series (now A220) in 2018, Airbus continues to expand in the 100-150 seat transcontinental market. Other competitors are also in different phases of developing commercial jet aircraft. Some of these competitors have historically enjoyed access to government-provided financial support, including "launch aid," which greatly reduces the cost and commercial risks associated with airplane development activities. This has enabled the development of airplanes without broad commercial viability; others to be brought to market more quickly than otherwise possible; and many offered for sale below market-based prices. Competitors continue to make improvements in efficiency, which may result in funding product development, gaining market share and improving earnings. This market environment has resulted in intense pressures on pricing and other competitive factors, and we expect these pressures to continue or intensify in the coming years. We are focused on improving our products and services and continuing our business transformation efforts, which enhances our ability to compete and positions us for market recovery. We are also focused on taking actions to ensure that Boeing is not harmed by unfair subsidization of competitors. Revenues BCA revenues increased by $3,331 million in 2021 compared with 2020 primarily due to higher 737 MAX deliveries driven by recertification and return to service in most jurisdictions and the absence of charges for 737 MAX customer considerations which reduced revenues in 2020, partially offset by lower 787 deliveries in 2021. BCA revenues decreased by $16,093 million in 2020 compared with 2019 due to lower deliveries primarily driven by the impacts of the COVID-19 pandemic, 787 production issues and the 737 MAX grounding. This was partially offset by lower charges related to estimated potential concessions and other considerations to 737 MAX customers of $498 million in 2020 compared with $8,259 million in 2019. We resumed deliveries of 737 MAX aircraft in December 2020 following rescission by the FAA of its grounding order. As of December 31, 2021, most non-U.S. jurisdictions have approved return to service of the 737 MAX. 787 deliveries have been paused since May 2021. Revenues will continue to be impacted until deliveries of the 737 MAX ramp up, deliveries of the 787 resume and the commercial airline industry recovers from the impacts of COVID-19. Loss From Operations BCA loss from operations was $6,475 million in 2021 compared with $13,847 million in 2020. The 2021 loss includes a reach-forward loss on the 787 program of $3,460 million, abnormal production costs related to 737 MAX of $1,887 million, and abnormal production costs related to the 787 program of $468 million resulting from continued production issues, inspections and rework, partially offset by higher 737 MAX deliveries. The 2020 loss reflects the reach-forward loss on 777X of $6,493 million and additional drivers as noted in the paragraph below. BCA loss from operations was $13,847 million in 2020 compared with $6,657 million in 2019. The 2020 loss reflects the reach-forward loss on 777X of $6,493 million, lower deliveries and lower program margins resulting from the COVID-19 pandemic, $2,567 million of abnormal production costs related to 737 MAX, $623 million of severance cost, $498 million of 737 MAX customer considerations, $336 million related to 737NG frame fitting component repair costs and $270 million of abnormal production costs in the first half of 2020 from the temporary suspension of operations in response to COVID-19, partially offset by lower research and development spending. Lower 787 margins reflecting a reduction in the accounting quantity in the first quarter of 2020 also contributed to lower earnings. The 2019 loss primarily reflects the absence of 737 MAX deliveries in the second, third and fourth quarters of 2019 and charges of $8,259 million for estimated 737 MAX customer considerations. Lower commercial airplane deliveries and the COVID-19 pandemic will continue to have a significant adverse impact on future earnings and margins until deliveries ramp up and return to historical levels. Backlog Our total backlog represents the estimated transaction prices on unsatisfied and partially satisfied performance obligations to our customers where we believe it is probable that we will collect the consideration due and where no contingencies remain before we and the customer are required to perform. Backlog does not include prospective orders where customer controlled contingencies remain, such as the customer receiving approval from its board of directors, shareholders or government or completing financing arrangements. All such contingencies must be satisfied or have expired prior to recording a new firm order even if satisfying such conditions is highly certain. Backlog excludes options and BCC orders as well as orders where customers have the unilateral right to terminate. A number of our customers may have contractual remedies, including rights to reject individual airplane deliveries if the actual delivery date is significantly later than the contractual delivery date. We address customer claims and requests for other contractual relief as they arise. The value of orders in backlog is adjusted as changes to price and schedule are agreed to with customers and is reported in accordance with the requirements of ASC 606. BCA total backlog of $296,882 million at December 31, 2021 increased from $281,588 million at December 31, 2020, reflecting new orders in excess of deliveries, increases in projected price escalation and decreases in the number of existing orders that in our assessment do not meet the accounting requirements of ASC 606 for inclusion in backlog, partially offset by aircraft order cancellations. Aircraft order cancellations during the year ended December 31, 2021 totaled $27,542 million and primarily relate to 737 MAX and 787 aircraft. The net ASC 606 adjustments decreased for the year ended December 31, 2021, which resulted in an increase to backlog of $3,810 million primarily due to 777X aircraft, partially offset by 787 aircraft. ASC 606 adjustments include consideration of aircraft orders where a customer controlled contingency may exist, as well as an assessment of whether the customer is committed to perform or whether it is probable that the customer will pay the full amount of consideration when it is due. If 787 aircraft deliveries continue to be paused, we are unable to ramp up deliveries of 737 MAX aircraft, and/or if entry into service of the 777X, 737 MAX 7 and/or 737 MAX 10 is further delayed, we may experience additional reductions to backlog and/or significant order cancellations. Additionally, we may continue to experience fewer new orders and increased cancellations across all of our commercial airplane programs as a result of the COVID-19 pandemic and associated impacts on demand. Accounting Quantity The accounting quantity is our estimate of the quantity of airplanes that will be produced for delivery under existing and anticipated contracts. The determination of the accounting quantity is limited by the ability to make reasonably dependable estimates of the revenue and cost of existing and anticipated contracts. It is a key determinant of the gross margins we recognize on sales of individual airplanes throughout a program's life. Estimation of each program's accounting quantity takes into account several factors that are indicative of the demand for that program, including firm orders, letters of intent from prospective customers and market studies. We review our program accounting quantities quarterly. The accounting quantity for each program may include units that have been delivered, undelivered units under contract and units anticipated to be under contract in the reasonable future (anticipated orders). In developing total program estimates, all of these items within the accounting quantity must be considered. Program Highlights 737 Program The accounting quantity for the 737 program increased by 400 units during 2021 due to the program's normal progress of obtaining additional orders and delivering airplanes. See further discussion of the 737 MAX in Note 13 to our Consolidated Financial Statements. 747 Program We are currently producing at a rate of 0.5 aircraft per month. We expect to complete production of the 747 in the second half of 2022. We believe that ending production of the 747 will not have a material impact on our financial position, results of operations or cash flows. 767 Program The accounting quantity for the 767 program increased by 36 units during 2021 due to the program's normal progress of obtaining additional orders and delivering airplanes. The 767 assembly line includes the commercial program and a derivative to support the tanker program. The commercial program has near break-even gross margins. We are currently producing at a rate of 3 aircraft per month. 777 and 777X Programs The accounting quantity for the 777 program increased by 50 units during 2021 due to the program's normal progress of obtaining additional orders and delivering airplanes. The production rate for the combined 777/777X program is expected to increase from 2 per month to 3 per month in 2022. In 2013, we launched the 777X-8 and 777X-9, which feature new composite wings, new engines and folding wing-tips. The first flight of the 777X was completed during the first quarter of 2020. In 2021, we began offering the 777X freighter to customers and expect to receive initial orders in 2022. During the fourth quarter of 2020, we revised the estimated first delivery date of the 777X to late 2023 and recorded a $6.5 billion reach-forward loss on the 777X program. The revised schedule and reach- forward loss reflected a number of factors, including an updated assessment of global certification requirements informed by continued discussions with regulators and a management decision in the fourth quarter of 2020 to make modifications to the aircraft's design, an updated assessment of COVID-19 impacts on market demand and discussions with our customers with respect to aircraft delivery timing. These factors resulted in adjustments to production rates and the program accounting quantity, increased change incorporation costs, and associated customer and supply chain impacts. The initial accounting quantity of 350 airplanes established in the fourth quarter of 2020 consists of 777X passenger airplanes and remained unchanged during 2021. We are working towards reaching Type Inspection Authorization (TIA) which will enable us to begin FAA certification flight testing. The timing of TIA and certification will ultimately be determined by the regulators, and further determinations with respect to anticipated certification requirements could result in additional delays in entry into service and/or additional cost increases. We continue to anticipate that the first 777X delivery will occur in late 2023. The 777X program has near break-even gross margins at December 31, 2021. The level of profitability on the 777X program will be subject to a number of factors. These factors include continued market uncertainty, the impacts of COVID-19 on our production system as well as impacts on our supply chain and customers, customer negotiations, further production rate adjustments for the 777X or other commercial aircraft programs, contraction of the accounting quantity and potential risks associated with the testing program and the timing of aircraft certification. One or more of these factors could result in additional reach-forward losses on the 777X program in future periods. 787 Program During 2020, we experienced significant reductions in deliveries due to the impacts of COVID-19 on our customers as well as production issues and associated rework. During 2021 we delivered 14 aircraft between March 2021 and May 2021 prior to deliveries being paused in May 2021. Deliveries remain paused. At December 31, 2021 and 2020 we had approximately 110 and 80 aircraft in inventory. We have identified production quality issues, including in our supply chain, which have contributed to the pause in deliveries. In July 2021, we announced that we were reprioritizing production resources to support inspections and rework. We continue to conduct inspections and rework on undelivered aircraft and engage in detailed discussions with the FAA regarding required actions for resuming delivery of the 787. We are currently producing at very low rates and expect that to continue until deliveries resume, gradually returning to 5 per month over time. In the third quarter of 2021, we determined that in the current environment production rates below 5 per month represent abnormally low production rates and result in abnormal production costs, and that inspections and rework costs on inventoried aircraft are excessive and should also be accounted for as abnormal production costs that are required to be expensed as incurred. In the fourth quarter of 2021, we determined that the ongoing rework, as well as our ongoing discussions with the FAA in anticipation of resumption of deliveries, will result in lower production rates longer than previously expected. As a result of these impacts, we expect to incur approximately $2 billion of abnormal production costs on a cumulative basis with most being incurred by the end of 2023. We continue to work with customers and suppliers regarding timing of future deliveries and production rate changes. We are also continuing to implement changes in the production process designed to ensure that newly-built airplanes meet our specifications and do not require further inspections and rework. During the first quarter of 2021, we consolidated 787 production in South Carolina, in line with our previous assumptions, which did not have a significant financial impact on the program. During the fourth quarter of 2021, we recorded a loss of $3.5 billion on the program primarily due to the additional rework, as well as other actions required to resume 787 deliveries, taking longer than expected. These impacts have resulted in longer than expected delivery delays and associated customer considerations. The timing of the resumption of deliveries and future production rates will depend upon rework, ongoing customer and supplier engagement, production stability and our activities with the FAA. China is a significant market for the 787 program, and if the program is unable to obtain additional orders from China in future quarters, we may be required to further adjust production rate assumptions. If we are required to further reduce the accounting quantity and/or production rates, experience further delivery delays or experience other factors that result in lower margins, the program could record additional losses and higher abnormal production costs in future periods. Fleet Support We provide the operators of our commercial airplanes with assistance and services to facilitate efficient and safe airplane operation. Collectively known as fleet support services, these activities and services begin prior to airplane delivery and continue throughout the operational life of the airplane. They include flight and maintenance training, field service support, engineering services, information services and systems and technical data and documents. The costs for fleet support are expensed as incurred and have historically been approximately 1% of total consolidated costs of products and services. Program Development The following chart summarizes the time horizon between go-ahead and planned initial delivery for major Commercial Airplanes derivatives and programs. The development schedules shown above are subject to a number of uncertainties, including changes in certification requirements. The timing of certifications will ultimately be determined by the regulators. Additional Considerations The development and ongoing production of commercial aircraft is extremely complex, involving extensive coordination and integration with suppliers and highly-skilled labor from employees and other partners. Meeting or exceeding our performance and reliability standards, as well as those of customers and regulators, can be costly and technologically challenging, such as the 787 production issues and associated rework. In addition, the introduction of new aircraft and derivatives, such as the 777X and 737 MAX derivatives, involves increased risks associated with meeting development, production and certification schedules. These challenges include increased global regulatory scrutiny of all development aircraft in the wake of the 737 MAX accidents. As a result, our ability to deliver aircraft on time, satisfy performance and reliability standards and achieve or maintain, as applicable, program profitability is subject to significant risks. Factors that could result in lower margins (or a material charge if an airplane program has or is determined to have reach-forward losses) include the following: changes to the program accounting quantity, customer and model mix, production costs and rates, changes to price escalation factors due to changes in the inflation rate or other economic indicators, performance or reliability issues involving completed aircraft, capital expenditures and other costs associated with increasing or adding new production capacity, learning curve, additional change incorporation, achieving anticipated cost reductions, the addition of regulatory requirements in connection with certification in one or more jurisdictions, flight test and certification schedules, costs, schedule and demand for new airplanes and derivatives and status of customer claims, supplier claims or assertions and other contractual negotiations. While we believe the cost and revenue estimates incorporated in the consolidated financial statements are appropriate, the technical complexity of our airplane programs creates financial risk as additional completion costs may become necessary or scheduled delivery dates could be extended, which could trigger termination provisions, order cancellations or other financially significant exposure. Defense, Space & Security Business Environment and Trends United States Government Defense Environment Overview In May 2021, the U.S. government released the President's budget request for fiscal year 2022 (FY22), which included $715 billion in funding for the United States Department of Defense (U.S. DoD), $25 billion in funding for the National Aeronautics and Space Administration (NASA) and $19 billion for the FAA. While the President's budget request for FY22 includes funding for a majority of Boeing's programs, it did not include funding for F/A-18 Super Hornet, P-8 Poseidon and CH-47F Block II production aircraft. While there is continued congressional support for F/A-18 and CH-47F Block II production aircraft for FY22, there is ongoing uncertainty with respect to these and other program-level appropriations for FY22 and future fiscal years. These programs also continue to pursue non-U.S. sales opportunities. In December 2021, Congress passed and the President signed the National Defense Authorization Act for FY22, which authorizes a U.S. DoD budget $25 billion higher than the budget request. A CR, enacted on December 3, 2021, continues funding for the federal government at FY21 appropriated levels through February 18, 2022. Congress and the President must enact either full-year FY22 appropriations bills or an additional CR to fund government departments and agencies beyond February 18, 2022 or a government shutdown could result, which may impact the Company's operations. Alternatively, Congress may continue to fund the federal government through one or more additional CRs, however, this would continue to restrict the execution of certain program activities and delay new programs or competitions. Accordingly, there continues to be uncertainty with respect to program-level appropriations for the U.S. DoD and other government agencies, including NASA, for FY22 and beyond. Future budget cuts or investment priority changes, including changes associated with the authorizations and appropriations process, could result in reductions, cancellations and/or delays of existing contracts or programs. Any of these impacts could have a material effect on our results of operations, financial position and/or cash flows. Non-U.S. Defense Environment Overview The non-U.S. market continues to be driven by complex and evolving security challenges and the need to modernize aging equipment and inventories. BDS expects that it will continue to have a wide range of opportunities across Asia, Europe and the Middle East given the diverse regional threats. At the end of 2021, 33% of BDS backlog was attributable to non-U.S. customers. Revenues BDS revenues in 2021 increased by $283 million compared with 2020 primarily due to higher revenue on the KC-46A Tanker program due to new orders for 27 aircraft received during the first quarter of 2021 and lower charges in 2021. This was partially offset by lower revenues on rotorcraft programs, Commercial Crew and VC-25B. Cumulative contract catch-up adjustments in 2021 were $56 million less unfavorable than the prior year, largely due to the lower charges described below. BDS revenues in 2020 increased by $162 million compared with 2019 reflecting higher revenues from fighter aircraft, Space Launch System, B-52 upgrades, proprietary and MQ-25, partially offset by reduced volume in missile defense. These net increases were offset by the unfavorable impact of cumulative contract catch-up adjustments, which were $312 million higher than the comparable period in the prior year, largely due to the KC-46A Tanker charges during 2020. Earnings From Operations BDS earnings from operations in 2021 increased by $5 million compared with 2020 primarily due to less unfavorable impacts from cumulative contract catch-up adjustments, which improved $219 million from the prior year, largely due to lower KC-46A Tanker charges in 2021 compared to 2020 and other charges in development programs described below. The favorable change in cumulative contract catch-up adjustments was offset primarily by lower volume and mix on rotorcraft programs and lower equity earnings for United Launch Alliance (ULA). During the fourth quarter of 2021, BDS increased the reach-forward loss on the KC-46A Tanker program by $402 million primarily due to continued disruption in the factory and in the supply chain, including impacts of COVID-19, and an increase in costs to complete the new Remote Vision System as the customer's requirements definition has evolved. In 2020, we recorded an additional reach-forward loss of $1,320 million on the KC-46A Tanker program reflecting $551 million of costs associated with the agreement signed in April 2020 with the U.S. Air Force to develop and integrate the new Remote Vision System, and costs for production inefficiencies including impacts of COVID-19 disruption. During the third quarter of 2021, we increased the reach-forward loss on Commercial Crew by $185 million driven by the delay in the second uncrewed Orbital Flight Test now anticipated in 2022 and the latest assessment of remaining work. During the first quarter of 2021, we increased the reach-forward loss on VC-25B by $318 million, which was largely due to COVID-19 impacts and performance issues at a key supplier. The $168 million reach-forward loss in the first quarter of 2020 on VC-25B was associated with engineering inefficiencies from the COVID-19 environment. BDS earnings from operations in 2020 decreased by $1,076 million compared with 2019 primarily due to the unfavorable impact of cumulative contract catch-up adjustments, which were $828 million higher than the prior year, largely due to higher charges in 2020 of $1,320 million on KC-46A Tanker and $168 million on VC-25B, offset by $489 million in charges on Commercial Crew in 2019. The lower earnings in 2020 also reflect lower gains on property sales compared to the same period in 2019. These current period decreases were partially offset by the volume increases described above. BDS earnings from operations includes our share of income or loss from equity method investments of $53 million, $141 million and $128 million primarily from our ULA and non-U.S. joint ventures in 2021, 2020 and 2019, respectively. Backlog Total backlog of $59,828 million at December 31, 2021 was $1,019 million lower than December 31, 2020 due to the timing of awards and revenue recognized. Additional Considerations Our BDS business includes a variety of development programs which have complex design and technical challenges. Many of these programs have cost-type contracting arrangements. In these cases, the associated financial risks are primarily in reduced fees, lower profit rates or program cancellation if cost, schedule or technical performance issues arise. Examples of these programs include Ground-based Midcourse Defense, Proprietary and Space Launch System programs. Some of our development programs are contracted on a fixed-price basis, and BDS customers are increasingly seeking fixed-price proposals for new programs. Examples of significant fixed-price development programs include Commercial Crew, KC-46A Tanker, MQ-25, T-7A Red Hawk, VC-25B, and commercial and military satellites. A number of our ongoing fixed-price development programs have reach-forward losses. New programs could also have risk for reach-forward loss upon contract award and during the period of contract performance. Many development programs have highly complex designs. As technical or quality issues arise during development, we may experience schedule delays and cost impacts, which could increase our estimated cost to perform the work or reduce our estimated price, either of which could result in a material charge or otherwise adversely affect our financial condition. These programs are ongoing, and while we believe the cost and fee estimates incorporated in the financial statements are appropriate, the technical complexity of these programs creates financial risk as additional completion costs may become necessary or scheduled delivery dates could be extended, which could trigger termination provisions, the loss of satellite in-orbit incentive payments or other financially significant exposure. Risk remains that we may be required to record additional reach-forward losses in future periods. Global Services Business Environment and Trends The aerospace markets we serve include parts distribution, logistics and other inventory services; maintenance, engineering and upgrades; training and professional services; and information services. Prior to COVID-19, we had expected the market to grow by around 3.5% annually, however, the pandemic is having a direct impact on our commercial services business. See Overview to Management's Discussion and Analysis of Financial Condition and Results of Operations for a discussion of the impacts of COVID-19 on the airline industry environment. Over the long-term, as the size of the worldwide commercial airline fleet continues to grow, so does demand for aftermarket services designed to increase efficiency and extend the economic lives of airplanes. Airlines are using data analytics to plan flight operations and predictive maintenance to improve their productivity and efficiency. Airlines continue to look for opportunities to reduce the size and cost of their spare parts inventory, frequently outsourcing spares management to third parties. The demand outlook for our government services business has remained stable in 2021. Government services market segments are growing on pace with related fleets, but vary based on the utilization and age of the aircraft. The U.S. government services market is the single largest individual market, comprising over 50 percent of the government services markets served. Over the next decade, we expect U.S. growth to remain flat and non-U.S. fleets, led by Middle East and Asia Pacific customers, to add rotorcraft and commercial derivative aircraft at the fastest rates. We expect less than 20 percent of the worldwide fleet of military aircraft to be retired and replaced over the next ten years, driving increased demand for services to maintain aging aircraft and enhance aircraft capability. BGS' major customer, the U.S. government, remains subject to the spending limits and uncertainty described on page 39, which could restrict the execution of certain program activities and delay new programs or competitions. Industry Competitiveness Aviation services is a competitive market with many domestic and international competitors. This market environment has resulted in intense pressures on pricing, and we expect these pressures to continue or intensify in the coming years. Continued access to global markets remains vital to our ability to fully realize our sales growth potential and long-term investment returns. Revenues BGS revenues in 2021 increased by $785 million compared with 2020 due to higher commercial and government services volume. While commercial services volume is recovering, it remains below pre-pandemic levels. The net favorable impact of cumulative contract catch-up adjustments in 2021 was $37 million lower than the comparable period in the prior year. We expect the impacts of the COVID-19 pandemic to continue to have an adverse impact on BGS commercial revenues in future quarters until the commercial airline industry environment fully recovers. BGS revenues in 2020 decreased by $2,925 million compared with 2019 due to lower commercial services revenue driven by impacts of the COVID-19 pandemic. The favorable impact of cumulative contract catch-up adjustments in 2020 was $101 million lower than the comparable period in the prior year. Earnings From Operations BGS earnings from operations in 2021 increased by $1,567 million compared with 2020, primarily due to charges incurred in 2020 driven by impacts of the COVID-19 pandemic as well as higher commercial services volume in 2021, partially offset by an inventory write-down of $220 million recognized in the fourth quarter of 2021 driven by revised cost estimates on certain customer contracts. Charges in 2020 included $531 million of inventory write-downs, $178 million of related impairments of distribution rights primarily driven by airlines' decisions to retire certain aircraft, $398 million for higher expected credit losses primarily driven by customer liquidity issues, $115 million of contract termination and facility impairment charges, and $72 million of severance costs. The net favorable impact of cumulative contract catch-up adjustments in 2021 was $98 million lower than the prior year. BGS earnings from operations in 2020 decreased by $2,247 million compared with 2019, primarily due to lower commercial services revenue as well as the 2020 earnings charges described in the previous paragraph. The favorable impact of cumulative contract catch-up adjustments in 2020 was consistent with the prior year. Backlog BGS total backlog of $20,496 million at December 31, 2021 decreased by 1% from $20,632 million at December 31, 2020, primarily due to revenue recognized on contracts awarded in prior years. Boeing Capital Business Environment and Trends BCC's gross customer financing and investment portfolio at December 31, 2021 totaled $1,734 million. A substantial portion of BCC's portfolio is composed of customers that have less than investment-grade credit. BCC's portfolio is also concentrated by varying degrees across Boeing aircraft product types, most notably 717 and 747-8 aircraft. BCC provided customer financing of $14 million during 2020 and none during 2021. While we may be required to fund a number of new aircraft deliveries in 2021 and/or provide refinancing for existing bridge debt, we expect alternative financing will be available at reasonable prices from broad and globally diverse sources. Aircraft values and lease rates are impacted by the number and type of aircraft that are currently out of service. Approximately 5,300 western-built commercial jet aircraft (20.5% of current world fleet) were parked at the end of 2021, including both in-production and out-of-production aircraft types. Of these parked aircraft, a larger portion are expected to be retired compared to the pre-COVID-19 period, which directly impacts the Company in terms of number of new aircraft deliveries and financing opportunities, the ability of existing customers to meet current payment obligations and the value of aircraft in its portfolio. We continue to work closely with our customers to mitigate the risk. At the end of 2020 and 2019, 29.4% and 8.5% of the western-built commercial jet aircraft were parked. Aircraft valuations could decline if significant numbers of additional aircraft, particularly types with relatively few operators, are placed out of service. See Overview to Management's Discussion and Analysis of Financial Condition and Results of Operations for a discussion of the impacts of COVID-19 on the airline industry environment. Revenues BCC segment revenues consist principally of lease income from equipment under operating lease, interest income from financing receivables and notes, and other income. BCC's revenues in 2021 increased by $11 million compared with 2020, and revenues in 2020 increased by $17 million compared with 2019 primarily due to gains on re-lease of assets, partially offset by portfolio run-off. Earnings From Operations BCC's earnings from operations are presented net of interest expense, provision for (recovery of) losses, asset impairment expense, depreciation on leased equipment and other operating expenses. Earnings from operations in 2021 increased by $43 million compared with 2020 primarily due to higher revenues, lower provision for losses, and lower interest and asset impairment expenses. Earnings from operations in 2020 increased by $35 million compared with 2019 primarily due to higher revenues, lower asset impairment expenses and lower interest expenses. Operating Activities Net cash used by operating activities was $3.4 billion during 2021, compared with $18.4 billion during 2020 and $2.4 billion during 2019. The reduction in cash used by operating activities in 2021 compared with 2020 is primarily driven by lower net loss and improved changes in assets and liabilities. Non-cash items in 2021 include the $3.5 billion reach-forward loss on the 787 program which was recorded as a reduction to inventory, as well as $1.2 billion of treasury shares issued to fund Company contributions to the 401(k) plan and $0.8 billion of share-based plans expense reflecting a one-time stock grant to most employees in lieu of 2021 salary increases. The changes in assets and liabilities reflect the significant increase in commercial airplane inventory in 2020 driven by lower deliveries due to the COVID-19 pandemic and the 737 MAX grounding. In 2021, inventory growth slowed as the continued buildup of 787 aircraft caused by production issues and 777X inventory growth was partially offset by a decrease in 737 MAX inventory following the resumption of deliveries. Compensation payments to 737 MAX customers totaled $2.5 billion and $2.2 billion in 2021 and 2020. In the first quarter of 2021, we paid $0.7 billion consistent with the terms of the Deferred Prosecution Agreement between Boeing and the U.S. Department of Justice. Additionally, in 2021, we received income tax refunds of $1.7 billion. Cash provided by Advances and progress billings was $2.5 billion in 2021, as compared with Cash used by Advances and progress billings of $1.1 billion in 2020. The pause in 787 deliveries and the residual impacts of the 737 MAX grounding are expected to continue to have a significant impact on our operating cash flows until 787 deliveries resume and 737 MAX deliveries ramp up. The decrease in operating cash flows in 2020 compared to 2019 is primarily driven by our net loss in 2020 and changes in assets and liabilities, partially offset by an increase in non-cash items. Non-cash items include the $6.5 billion reach-forward loss on the 777X program in 2020, which was recorded as a reduction to inventory. The year-over-year increase in non-cash items also reflects higher inventory write-downs and higher allowances for expected credit losses in 2020. The changes in assets and liabilities reflect increases in commercial airplane inventory due to the large number of undelivered aircraft in 2019 resulting from the 737 MAX grounding, and in 2020 due to the 737 MAX grounding, 787 production issues and COVID-19 impacts. Cash used by Advances and progress billings was $1.1 billion in 2020, as compared with $0.7 billion provided by Advances and progress billings in 2019. The changes in assets and liabilities in 2020 also reflect lower accounts payable due to reductions in commercial purchases from suppliers and lower supply chain financing. Compensation payments to 737 MAX customers totaled $2.2 billion during 2020 and $1.2 billion during 2019. The accrued liability for 737 MAX customer considerations at December 31, 2019 resulted in a $7.4 billion favorable change to assets and liabilities in 2019. Payables to suppliers who elected to participate in supply chain financing programs declined by $1.5 billion and $1.9 billion for the years ended December 31, 2021 and 2020, and increased by $2.6 billion in 2019. Supply chain financing is not material to our overall liquidity. The declines for the years ended December 31, 2021 and 2020 were primarily due to reductions in commercial purchases from suppliers. The increase for the year ended December 31, 2019 reflects a combination of higher purchases, an extension of payment terms with certain suppliers and increased utilization of our supply chain financing programs. Investing Activities Cash provided by investing activities during 2021 was $9.3 billion, compared with cash used by investing activities of $18.4 billion and $1.5 billion during 2020 and 2019. The increase in cash inflows in 2021 compared to 2020 is primarily due to $27.1 billion of higher net proceeds from investments. The increase in cash outflows in 2020 compared to 2019 is primarily due to $17.4 billion of higher net contributions to investments. Net proceeds from investments were $9.8 billion in 2021, compared with net contributions to investments of $17.3 billion in 2020 and net proceeds from investments of $0.1 billion in 2019. Capital expenditures totaled $1.0 billion in 2021, compared with $1.3 billion in 2020 and $1.8 billion in 2019. We reduced our capital expenditures in 2021 and 2020 as we managed our liquidity throughout the pandemic and 737 MAX grounding. We expect capital expenditures in 2022 to be higher than in 2021. Financing Activities Cash used by financing activities was $5.6 billion during 2021, compared with cash provided by financing activities of $35.0 billion during 2020 and $5.7 billion in 2019. The decrease of $40.6 billion compared with 2020 primarily reflects net debt repayments in 2021 compared with net borrowings in 2020. The increase of $29.3 billion in 2020 compared with 2019 primarily reflects higher net borrowings, lower share repurchases and lower dividend payments, which reflects the Company's decision in March 2020 to suspend the declaration or payment of dividends until further notice. During the twelve months ended December 31, 2021, debt repayments net of new borrowings were $5.6 billion, primarily due to $13.8 billion of repayments of our two-year delayed draw term loan credit agreement, partially offset by $9.8 billion of fixed rate senior notes issued in the first quarter of 2021. During the twelve months ended December 31, 2020, new borrowings net of repayments were $36.3 billion, primarily due to $29.9 billion of fixed rate senior notes issued in 2020 and $13.8 billion of new borrowings under a two-year delayed draw term loan agreement entered into in the first quarter of 2020. During the twelve months ended December 31, 2019, new borrowings net of repayments were $13.2 billion, primarily due to the issuance of $10.5 billion of fixed rate senior notes in 2019. For further discussion see Liquidity Matters in Note 1 to our Consolidated Financial Statements. At December 31, 2021 and 2020 debt balances totaled $58.1 billion and $63.6 billion, of which $1.3 billion and $1.7 billion were classified as short-term. This included $1.5 billion and $1.6 billion of debt attributable to BCC at December 31, 2021 and 2020, of which $0.3 billion and $0.9 billion were classified as short-term. During the years ended December 31, 2021 and 2020, we did not repurchase any shares through our open market share repurchase program compared to repurchases of 6.9 million shares in 2019 totaling $2.7 billion. Share repurchases under this plan have been suspended since April 2019. In March 2020, the Board of Directors terminated its prior authorization to repurchase shares of the Company's outstanding common stock. We had 0.3 million, 0.6 million and 0.6 million shares transferred to us from employee tax withholdings in 2021, 2020 and 2019, respectively. During the year ended December 31, 2021, we paid no dividends, compared with $1.2 billion and $4.6 billion in 2020 and 2019. In March 2020, the Company announced that our dividend will be suspended until further notice. Capital Resources The impacts of the COVID-19 pandemic, 787 production issues and associated rework, and residual impacts of the 737 MAX grounding are having a significant negative impact on our liquidity and ongoing operations and creating significant uncertainty. We have and are continuing to take significant actions to manage and preserve our liquidity. For further discussion see Liquidity Matters in Note 1 to our Consolidated Financial Statements. We expect to be able to fund our cash requirements through cash and short-term investments and cash provided by operations, as well as continued access to capital markets. At December 31, 2021, we had $8.1 billion of cash, $8.2 billion of short-term investments, and $14.7 billion of unused borrowing capacity on revolving credit line agreements. We anticipate that these revolving credit lines will remain undrawn and primarily serve as backup liquidity to support our general corporate borrowing needs. Of the $14.7 billion of unused borrowing capacity, $6.3 billion expires in October 2022, $5.3 billion expires in March 2023 and $3.2 billion expires in October 2024. Our debt balances have increased significantly since 2019, and we are continuing to actively manage our liquidity. In 2021, we repaid $13.8 billion that was outstanding under our two-year delayed draw term loan credit agreement that had a final maturity date of February 6, 2022. Our increased debt balance resulted in downgrades to our credit ratings in 2020, and our ratings remained unchanged in 2021. We expect to be able to access capital markets when we require additional funding in order to pay off existing debt, address further impacts to our business related to market developments, fund outstanding financing commitments or meet other business requirements. A number of factors could cause us to incur increased borrowing costs and to have greater difficulty accessing public and private markets for debt. These factors include disruptions or declines in the global capital markets and/or a decline in our financial performance, outlook or credit ratings, including impacts described above related to the COVID-19 pandemic and/or associated changes in demand for our products and services. These risks will be particularly acute if we are subject to further credit rating downgrades. The occurrence of any or all of these events may adversely affect our ability to fund our operations and financing or contractual commitments. Any future borrowings may affect our credit ratings and are subject to various debt covenants. At December 31, 2021, we were in compliance with the covenants for our debt and credit facilities. The most restrictive covenants include a limitation on mortgage debt and sale and leaseback transactions as a percentage of consolidated net tangible assets (as defined in the credit agreements) and a limitation on consolidated debt as a percentage of total capital (as defined in the credit agreements). When considering debt covenants, we continue to have substantial borrowing capacity. Pension and Other Postretirement Benefits Pension cash requirements are based on an estimate of our minimum funding requirements, pursuant to Employee Retirement Income Security Act (ERISA) regulations, although we may make additional discretionary contributions. Estimates of other postretirement benefits are based on both our estimated future benefit payments and the estimated contributions to plans that are funded through trusts. At December 31, 2021 and 2020, our pension plans were $7.8 billion and $13.7 billion underfunded as measured under Generally Accepted Accounting Principles in the United States of America (GAAP). On an ERISA basis our plans are more than 100% funded at December 31, 2021. We do not expect to make significant contributions to our pension plans in 2022. We may be required to make higher contributions to our pension plans in future years. In the fourth quarter of 2020, we contributed $3 billion of our common stock to our pension fund. In the fourth quarter of 2020, we also began using our common stock in lieu of cash to fund Company contributions to our 401(k) plans for the foreseeable future. Under this approach, common stock is contributed to our 401(k) plans following each pay period. We expect this measure to further enable the Company to conserve cash. We have retained an independent fiduciary to manage and liquidate stock contributed to these plans at its discretion. Purchase Obligations Purchase obligations represent contractual agreements to purchase goods or services that are legally binding; specify a fixed, minimum or range of quantities; specify a fixed, minimum, variable or indexed price provision; and specify approximate timing of the transaction. Purchase obligations include amounts recorded as well as amounts that are not recorded on the Consolidated Statements of Financial Position. Purchase obligations not recorded on the Consolidated Statements of Financial Position include agreements for inventory procurement, tooling costs, electricity and natural gas contracts, property, plant and equipment, customer financing equipment and other miscellaneous production related obligations. The most significant obligation relates to inventory procurement contracts. We have entered into certain significant inventory procurement contracts that specify determinable prices and quantities, and long-term delivery timeframes. In addition, we purchase raw materials on behalf of our suppliers. These agreements require suppliers and vendors to be prepared to build and deliver items in sufficient time to meet our production schedules. The need for such arrangements with suppliers and vendors arises from the extended production planning horizon for many of our products. A significant portion of these inventory commitments is supported by firm contracts with customers and/or has historically resulted in settlement through reimbursement from customers for penalty payments to the supplier should the customer not take delivery. These amounts are also included in our forecasts of costs for program and contract accounting. Some inventory procurement contracts may include escalation adjustments. In these limited cases, we have included our best estimate of the effect of the escalation adjustment in the amounts disclosed in the table above. Purchase obligations recorded on the Consolidated Statements of Financial Position primarily include accounts payable and certain other current and long-term liabilities including accrued compensation. We have entered into various industrial participation agreements with certain customers outside of the U.S. to facilitate economic flow back and/or technology or skills transfer to their businesses or government agencies as the result of their procurement of goods and/or services from us. These commitments may be satisfied by our local operations there, placement of direct work or vendor orders for supplies, opportunities to bid on supply contracts, transfer of technology or other forms of assistance. However, in certain cases, our commitments may be satisfied through other parties (such as our vendors) who purchase supplies from our non-U.S. customers. In certain cases, penalties could be imposed if we do not meet our industrial participation commitments. During 2021, we incurred no such penalties. As of December 31, 2021, we have outstanding industrial participation agreements totaling $25.5 billion that extend through 2034. Purchase order commitments associated with industrial participation agreements are included in purchase obligations in the table above. To be eligible for such a purchase order commitment from us, a non-U.S. supplier must have sufficient capability to meet our requirements and must be competitive in cost, quality and schedule. Off-Balance Sheet Arrangements We are a party to certain off-balance sheet arrangements including certain guarantees. For discussion of these arrangements, see Note 14 to our Consolidated Financial Statements. Commercial Commitments Commercial aircraft financing commitments include commitments to provide financing related to aircraft on order, under option for deliveries or proposed as part of sales campaigns or refinancing with respect to delivered aircraft, based on estimated earliest potential funding dates. Customer financing commitments totaled $12.9 billion and $11.5 billion at December 31, 2021 and 2020. The increase relates to new financing commitments. We anticipate that we will not be required to fund a significant portion of our financing commitments as we continue to work with third party financiers to provide alternative financing to customers. Historically, we have not been required to fund significant amounts of outstanding commitments. However, there can be no assurances that we will not be required to fund greater amounts than historically required. See Note 13 to our Consolidated Financial Statements. Contingent Obligations We have significant contingent obligations that arise in the ordinary course of business, which include the following: Legal Various legal proceedings, claims and investigations are pending against us. Legal contingencies are discussed in Note 21 to our Consolidated Financial Statements. Environmental Remediation We are involved with various environmental remediation activities and have recorded a liability of $605 million at December 31, 2021. For additional information, see Note 13 to our Consolidated Financial Statements. Non-GAAP Measures Core Operating Earnings, Core Operating Margin and Core Earnings Per Share Our Consolidated Financial Statements are prepared in accordance with GAAP which we supplement with certain non-GAAP financial information. These non-GAAP measures should not be considered in isolation or as a substitute for the related GAAP measures, and other companies may define such measures differently. We encourage investors to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. Core operating earnings, core operating margin and core earnings per share exclude the FAS/CAS service cost adjustment. The FAS/ CAS service cost adjustment represents the difference between the Financial Accounting Standards (FAS) pension and postretirement service costs calculated under GAAP and costs allocated to the business segments. Core earnings per share excludes both the FAS/CAS service cost adjustment and non-operating pension and postretirement expenses. Non-operating pension and postretirement expenses represent the components of net periodic benefit costs other than service cost. Pension costs, comprising service and prior service costs computed in accordance with GAAP are allocated to BCA and certain BGS businesses supporting commercial customers. Pension costs allocated to BDS and BGS businesses supporting government customers are computed in accordance with U.S. Government Cost Accounting Standards (CAS), which employ different actuarial assumptions and accounting conventions than GAAP. CAS costs are allocable to government contracts. Other postretirement benefit costs are allocated to all business segments based on CAS, which is generally based on benefits paid. The Pension FAS/CAS service cost adjustments recognized in Loss from operations were benefits of $882 million in 2021, $1,024 million in 2020 and $1,071 million in 2019. The lower benefits in 2021 were primarily due to reductions in allocated pension cost year over year. The non-operating pension expense included in Other income, net was a benefit of $528 million in 2021, $340 million in 2020 and $374 million in 2019. The higher benefits in 2021 were primarily due to lower interest cost and higher expected return on plan assets, partially offset by higher amortization of actuarial losses and higher settlement charges. The benefits in 2020 and 2019 reflect expected returns in excess of interest cost and amortization of actuarial losses. For further discussion of pension and other postretirement costs, see the Management's Discussion and Analysis on page 29 of this Form 10-K and see Note 22 to our Consolidated Financial Statements. Management uses core operating earnings, core operating margin and core earnings per share for purposes of evaluating and forecasting underlying business performance. Management believes these core earnings measures provide investors additional insights into operational performance as unallocated pension and other postretirement benefit cost primarily represent costs driven by market factors and costs not allocable to U.S. government contracts. (1)FAS/CAS service cost adjustment represents the difference between the FAS pension and postretirement service costs calculated under GAAP and costs allocated to the business segments. This adjustment is excluded from Core operating loss (non-GAAP). (2)Non-operating pension and postretirement expenses represent the components of net periodic benefit costs other than service cost. These expenses are included in Other income, net and are excluded from Core loss per share (non-GAAP). (3)The income tax impact is calculated using the U.S. corporate statutory tax rate. Critical Accounting Policies & Estimates Accounting for Long-term Contracts Substantially all contracts at BDS and certain contracts at BGS are long-term contracts. Our long-term contracts typically represent a single distinct performance obligation due to the highly interdependent and interrelated nature of the underlying goods and/or services and the significant service of integration that we provide. Accounting for long-term contracts involves a judgmental process of estimating the total sales, costs, and profit for each performance obligation. Cost of sales is recognized as incurred, and revenue is determined by adding a proportionate amount of the estimated profit to the amount reported as cost of sales. Due to the size, duration and nature of many of our long-term contracts, the estimation of total sales and costs through completion is complicated and subject to many variables. Total sales estimates are based on negotiated contract prices and quantities, modified by our assumptions regarding contract options, change orders, incentive and award provisions associated with technical performance, and price adjustment clauses (such as inflation or index-based clauses). The majority of these long-term contracts are with the U.S. government where the price is generally based on estimated cost to produce the product or service plus profit. Federal Acquisition Regulations provide guidance on the types of cost that will be reimbursed in establishing contract price. Total cost estimates are largely based on negotiated or estimated purchase contract terms, historical performance trends, business base and other economic projections. Factors that influence these estimates include inflationary trends, technical and schedule risk, internal and subcontractor performance trends, business volume assumptions, COVID-19 disruptions, asset utilization and anticipated labor agreements. Revenue and cost estimates for all significant long-term contract performance obligations are reviewed and reassessed quarterly. Changes in these estimates could result in recognition of cumulative catch-up adjustments to the performance obligation's inception to date revenues, cost of sales and profit in the period in which such changes are made. Changes in revenue and cost estimates could also result in a reach-forward loss or an adjustment to a reach-forward loss which would be recorded immediately in earnings. For the years ended December 31, 2021, 2020 and 2019, net unfavorable cumulative catch-up adjustments across all long-term contracts increased loss from operations by $880 million, $942 million and $111 million, respectively. The cumulative catch-up adjustments in 2021 were primarily due to losses recognized on the KC-46A Tanker, VC-25B and Commercial Crew programs. These are all fixed-price development programs, and there is ongoing risk that similar losses may have to be recognized in future periods on these and/or other programs. Due to the significance of judgment in the estimation process described above, it is likely that materially different earnings could be recorded if we used different assumptions or if the underlying circumstances were to change. Changes in underlying assumptions/estimates, supplier performance, or circumstances may adversely or positively affect financial performance in future periods. If the combined gross margins for our profitable long-term contracts had been estimated to be higher or lower by 1% during 2021, it would have increased or decreased pre-tax income for the year by approximately $300 million. Program Accounting Program accounting requires the demonstrated ability to reliably estimate revenues, costs and gross profit margin for the defined program accounting quantity. A program consists of the estimated number of units (accounting quantity) of a product to be produced in a continuing, long-term production effort for delivery under existing and anticipated contracts. The determination of the accounting quantity is limited by the ability to make reasonably dependable estimates. Factors that must be estimated include program accounting quantity, sales price, labor and employee benefit costs, material costs, procured part costs, major component costs, overhead costs, program tooling and other non-recurring costs, and warranty costs. Estimation of the accounting quantity for each program takes into account several factors that are indicative of the demand for the particular program, such as firm orders, letters of intent from prospective customers and market studies. Total estimated program sales are determined by estimating the model mix and sales price for all unsold units within the accounting quantity, added together with the sales prices for all undelivered units under contract. The sales prices for all undelivered units within the accounting quantity include an escalation adjustment for inflation that is updated quarterly. Cost estimates are based largely on negotiated and anticipated contracts with suppliers, historical performance trends, and business base and other economic projections. Factors that influence these estimates include production rates, internal and subcontractor performance trends, customer and/or supplier claims or assertions, asset utilization, anticipated labor agreements, COVID-19 disruptions, and inflationary or deflationary trends. To ensure reliability in our estimates, we employ a rigorous estimating process that is reviewed and updated on a quarterly basis. This includes reassessing the accounting quantity. Changes in estimates of program gross profit margins are normally recognized on a prospective basis; however, when estimated costs to complete a program plus costs already included in inventory exceed estimated revenues from the program, a loss is recorded in the current period. Reductions to the estimated loss are included in the gross profit margin for undelivered units in the accounting quantity whereas increases to the estimated loss are recorded as an earnings charge in the period in which the loss is determined. The 747, 767 and 777X programs have near break-even margins, and the 787 program has zero margin at December 31, 2021. Adverse changes to the revenue and/or cost estimates for these programs could result in additional earnings charges in future periods. 777X Program During the fourth quarter of 2020, we revised the estimated first delivery date of the 777X to late 2023 and recorded a $6.5 billion reach-forward loss on the 777X program. The revised schedule and reach-forward loss reflected a number of factors, including an updated assessment of global certification requirements informed by continued discussions with regulators and a management decision in the fourth quarter of 2020 to make modifications to the aircraft's design, an updated assessment of COVID-19 impacts on market demand and discussions with our customers with respect to aircraft delivery timing. These factors resulted in adjustments to production rates and the program accounting quantity, increased change incorporation costs, and associated customer and supply chain impacts. The initial accounting quantity of 350 airplanes established in the fourth quarter of 2020 consists of 777X passenger airplanes and remained unchanged during 2021. We are working towards reaching TIA which will enable us to begin FAA certification flight testing. The timing of TIA and certification will ultimately be determined by the regulators, and further determinations with respect to anticipated certification requirements could result in additional delays in entry into service and/or additional cost increases. 787 Program The 787 program's production issues and delivery pause result in significant uncertainties regarding the revenue and cost estimates for the 787 program. Deliveries have remained paused since May 2021. During the fourth quarter of 2021, we recorded a loss of $3.5 billion on the program primarily due to rework driving longer delivery delays than were previously expected and associated customer considerations. The estimate of customer considerations is based on a number of factors, including our current assumptions regarding timing of FAA approval enabling resumption of deliveries, estimated timing of completion of inspections and rework to enable deliveries in future periods, estimated timing of production rate increases as well as customer and market assessments. We continue to conduct inspections and rework and engage in detailed discussions with the FAA regarding required actions for resuming delivery of the 787. Our program revenue and cost estimates reflect the assumption that production rates will remain very low until deliveries resume, gradually returning to 5 per month over time. We have also assumed lower forecasted revenues due to delayed deliveries. Our program assumptions reflect our current best estimate. However, if the program experiences further delivery delays or other factors such as additional inspections or rework that result in lower revenue or higher cost estimates, we could record additional losses in future periods, which may be material. Goodwill Impairments We test goodwill for impairment by performing a qualitative assessment or quantitative test. If we choose to perform a qualitative assessment, we evaluate economic, industry and company-specific factors as an initial step in assessing the fair value of the reporting unit. If we determine it is more likely than not that the carrying value of the net assets is more than the fair value of the reporting unit, then a quantitative test is performed; otherwise, no further testing is required. For reporting units where the quantitative test is used, we compare the carrying value of net assets to the estimated fair value of the reporting unit. If the fair value is determined to be less than carrying value, the shortfall up to the carrying value of the goodwill represents the amount of goodwill impairment. We generally estimate the fair values of our reporting units using a combination of discounted cash flows and market-based valuation methodologies such as comparable public company trading values. Forecasts of future cash flows are based on our best estimate of future sales, operating costs and changes in working capital. These forecasts reflect existing firm orders, expected future orders, expected production rates and delivery profiles, contracts with suppliers, labor agreements and general market conditions. Changes in these forecasts could significantly change the amount of impairment recorded, if any. The cash flow forecasts are adjusted by an appropriate discount rate derived from our market capitalization plus a suitable control premium at the date of evaluation. Therefore, changes in the stock price may also affect the amount of impairment recorded, if any. We completed our annual assessment of goodwill as of April 1, 2021 and determined that there was no impairment of goodwill. As of December 31, 2021, we estimated that the fair value of each reporting unit significantly exceeded its corresponding carrying value. Changes in our forecasts, discount rates or decreases in the value of our common stock could cause book values to exceed their fair values which may result in goodwill impairment charges in future periods. Pension Plans Many of our employees have earned benefits under defined benefit pension plans. Nonunion and the majority of union employees that had participated in defined benefit pension plans transitioned to a company-funded defined contribution retirement savings plan in 2016. Additional union employees transitioned to company-funded defined contribution retirement savings plans effective January 1, 2019. Accounting rules require an annual measurement of our projected obligation and plan assets. These measurements are based upon several assumptions, including the discount rate and the expected long-term rate of asset return. Future changes in assumptions or differences between actual and expected outcomes can significantly affect our future annual expense, projected benefit obligation and Shareholders' equity. The projected benefit obligation is sensitive to discount rates. The projected benefit obligation would decrease by $2,240 million or increase by $2,530 million if the discount rate increased or decreased by 25 basis points. A 25 basis point change in the discount rate would not have a significant impact on pension cost. However, net periodic pension cost is sensitive to changes in the expected long-term rate of asset return. A decrease or increase of 25 basis points in the expected long-term rate of asset return would have increased or decreased 2021 net periodic pension cost by $155 million. See Note 16 of the Notes to our Consolidated Financial Statements, which includes the discount rate and expected long-term rate of asset return assumptions for the last three years. Deferred Income Taxes - Valuation Allowance The Company has deferred income tax assets of $11,258 million at December 31, 2021 that can be used in future years to offset taxable income and reduce income taxes payable. The Company has deferred income tax liabilities of $8,976 million at December 31, 2021 that will partially offset deferred income tax assets and result in higher taxable income in future years and increase income taxes payable. Tax law determines whether future reversals of temporary differences will result in taxable and deductible amounts that offset each other in future years. The particular years in which temporary differences result in taxable or deductible amounts generally are determined by the timing of the recovery of the related asset or settlement of the related liability. On a quarterly basis, we assess the likelihood that we will be able to recover our deferred tax assets against future sources of taxable income and reduce the carrying amounts of deferred tax assets by recording a valuation allowance if, based on the available evidence, it is more likely than not (defined as a likelihood of more than 50%) that all or a portion of such assets will not be realized. This assessment takes into account both positive and negative evidence. A recent history of financial reporting losses is heavily weighted as a source of objectively verifiable negative evidence. Due to our recent history of losses, we determined we could not include future projected earnings in our analysis. Rather, we use systematic and logical methods to estimate when deferred tax liabilities will reverse and generate taxable income and when deferred tax assets will reverse and generate tax deductions. The selection of methodologies and assessment of when temporary differences will result in taxable or deductible amounts involves significant management judgment and is inherently complex and subjective. We believe that the methodologies we use are reasonable and can be replicated on a consistent basis in future periods. Deferred tax liabilities represent the assumed source of future taxable income and the majority are assumed to generate taxable amounts during the next five years. Deferred tax assets include amounts related to pension and other postretirement benefits that are assumed to generate significant deductible amounts beyond five years. The Company's valuation allowance of $2,423 million at December 31, 2021 primarily relates to pension and other postretirement benefit obligation deferred tax assets that are assumed to reverse beyond the period in which reversals of deferred tax liabilities are assumed to occur. During 2021, the Company decreased the valuation allowance by $671 primarily due to favorable pension remeasurement. Until the Company generates sustained levels of profitability, additional valuation allowances may have to be recorded with corresponding adverse impacts on earnings and/or other comprehensive income. For additional information regarding income taxes, see Note 4 of the Notes to the Consolidated Financial Statements. Dec 31, 2021: FY2021 Annual Cash Flow Report: Boeing Cash Balance increases 2.8% As per a report dated December 31, 2021 the Cash Burn of operating activities was $3,416,000,000 in the year ended December 31, 2021. This corresponds to an average Cash Burn Rate of $284,666,667 per month. To support this Cash Burn Rate, the cash balance of $8,052,000,000 as at December 31, 2021 should be adequate till May 08, 2024. The cash runway defined by the length of time to run out of money if it kept spending at its current rate of cash burn is 2 years, 3 months and 5 days from today's date.
Oct 01, 2021: Sonnenfeld on Boeing 737 Max crisis: I don't think there's a bad actor here Shares of Boeing closed nearly three percent higher on Monday after Boeing's board fired CEO Dennis Muilenburg. The decision comes as the company has faced its worst crisis in its more than 100-year history. Jeff Sonnenfeld, associate dean for leadership studies at Yale School of Management, CNBC contributor Michelle Caruso-Cabrera and Carlos Watson, OZY co-founder and CEO, join "Squawk Box" to discuss. Source: CNBC Sep 30, 2021: Quarterly Activities Report: Boeing Cash Balance increases 25% As per a report dated September 30, 2021 the Cash Burn of operating activities was $4,132,000,000 for the nine months ended September 30, 2021. This corresponds to an average Cash Burn Rate of $459,111,111 per month. To support this Cash Burn Rate, the cash balance of $9,764,000,000 as at September 30, 2021 should be adequate till June 30, 2023. The cash runway defined by the length of time to run out of money if it kept spending at its current rate of cash burn is 1 year, 8 months and 3 days from today's date.
Sep 29, 2021: Boeing Boeing shares gained 3% after Bernstein upgraded the aircraft manufacturer stock to an outperform rating from market perform. Bernstein said Boeing is set to rally as vaccination rates grow around the world and global travel demand rebounds. The firm also hiked its price target on the stock to $279, nearly 30% higher than Tuesday's close. Source: CNBC Sep 15, 2021: Boeing looks like a 'value trap,' trader warns as stock trails the Dow in past month Boeing offered some upbeat, longer-term guidance for demand this week, but the stock paid little notice. The company increased its outlook for expected deliveries over the next two decades on Tuesday. Shares, though, remain sharply lower for the month and have dropped 23% since a March peak, putting the stock in bear-market territory. Over the past month, shares have fallen 9%, making Boeing the worst performer on the Dow Jones Industrial Average. Boeing's stock has struggled to recover since two fatal crashes of its 737 Max model in late 2018 and early 2019. Source: CNBC Sep 15, 2021: SpaceX is set to launch four nonprofessional astronauts to orbit: Here's what you should know KENNEDY SPACE CENTER, Fla. - Elon Musk's SpaceX is set to make history with a launch of four civilians in what would be the first full crew of nonprofessional astronauts to fly to space. The mission, known as Inspiration4, is scheduled to lift off Wednesday night, with a five-hour window that opens at 8:02 p.m. ET. The mission is the creation of SpaceX and billionaire entrepreneur Jared Isaacman, 38-year-old founder and CEO of Shift4 Payments. Isaacman purchased the multiday flight from SpaceX for an undisclosed fee, with the goal of raising awareness and funding for St. Jude Children's Research Hospital. Source: CNBC Sep 14, 2021: Boeing expects airplane demand to rise through 2024 Boeing has released new data on its long-term projection for commercial airplanes. CNBC's Phil LeBeau reports on the numbers. Source: CNBC Sep 14, 2021: Despite pandemic pause, demand for new airplanes is expected to swell in next two decades, Boeing says Despite the Covid pandemic wiping out two years of growth for the commercial airplane market, Boeing expects demand for the industry to swell over the next 20 years. The company's annual market outlook predicts the global fleet of commercial airplanes will climb from 25,900 in 2019 to 49,405 planes by 2040, with almost 90 percent those planes being new models that will enter service over the period. Source: CNBC Sep 14, 2021: Boeing trails the Dow in the past month. Two traders on what's next Boeing fell on Tuesday despite more upbeat long-term guidance. Quint Tatro of Joule Financial and Delano Saporu of New Street Advisors discuss what's next for the stock. Source: CNBC Sep 07, 2021: Boeing Boeing shares dipped 0.8% in premarket trading after Ryanair, one of Boeing's biggest customers, said it ended talks to purchase 737 MAX 10 jets. The deal would have been worth tens of billions of dollars. Ryanair cited disputes over prices. Source: CNBC Aug 23, 2021: Boeing Shares of Boeing jumped 3.2% after Virgin Orbit, a satellite-launching spinoff of Sir Richard Branson's Virgin Galactic, announced it will go public at a $3.7 billion valuation. Boeing is set to invest in the deal's private investment in public equity round. Virgin Orbit is combining with special purpose acquisition company NextGen Acquisition Corp. II, which saw its shares gain 1.9% after the news. Source: CNBC Jul 21, 2021: Trading Nation: Why Baird is backing Boeing Quint Tatro of Joule Financial and Todd Gordon of TradingAnalysis.com joins CNBC's Seema Mody to discuss Boeing's performance in the market. Source: CNBC Jul 20, 2021: Bulls fly with Boeing "Halftime Report" trader Jon Najarian spots unusal activity in the options market Source: CNBC Jul 19, 2021: Boeing Airline stocks fell in tandem as concerns about a rebound in Covid-19 cases intensified. Shares of Delta fell more 3.7%, American Airlines shares lost 4.1% and United shares declined 5.5%. Aircraft manufacturer Boeing's stock also fell 4.9%. Covid cases have ticked up in the U.S. this month with the delta variant spreading among the unvaccinated. Source: CNBC Jul 19, 2021: Airline stocks, Boeing tumble as Covid cases climb U.S. airline stocks tumbled Monday as an uptick in Covid-19 cases raised concerns about the economic recovery and hit one of the sectors most closely tied to loosened pandemic restrictions especially hard. United Airlines fell 5.5% while American Airlines dropped 4.1% and Delta Air Lines lost 3.7%. Southwest Airlines ended the day down 2.8%. Shares of aircraft manufacturer Boeing dropped nearly 5% to $206.99, a more than five-month low, the largest percentage decline in the Dow Jones Industrial Average on Monday. Source: CNBC Jul 14, 2021: 737 Max recertification in China is Boeing's biggest near-term risk: Analyst Ken Herbert from Canaccord Genuity discusses the risks affecting Boeing stocks despite the recent rise in aircraft orders. Source: CNBC Jul 13, 2021: Analyst upgrades Boeing ahead of cut in delivery target Hunter Keay, Wolfe Research senior airlines analyst, explains why he upgraded the stock ahead of the company's announcement it was cutting its delivery target for its 787 Dreamliners. Source: CNBC Jul 13, 2021: Boeing Shares of Boeing fell more than 3%. The plane maker cut production of its 787 Dreamliners after a new flaw was detected on some of the jets. Boeing also cut its delivery target for the planes. Source: CNBC Jul 13, 2021: Jim Cramer: I'm 'sick' about what's happening at Boeing CNBC's "Squawk on the Street" team discusses Boeing cut to 787 Dreamliner production, citing issues with the jet. Source: CNBC Jun 30, 2021: Quarterly Activities Report: Boeing Cash Balance increases 5.6% As per a report dated June 30, 2021 the Cash Burn of operating activities was $3,870,000,000 for the six months ended June 30, 2021. This corresponds to an average Cash Burn Rate of $645,000,000 per month. To support this Cash Burn Rate, the cash balance of $8,271,000,000 as at June 30, 2021 should be adequate till July 20, 2022. The cash runway defined by the length of time to run out of money if it kept spending at its current rate of cash burn is 11 months and 20 days from today's date.
May 28, 2021: Boeing Boeing fell 1.2% in the premarket on news that the jet maker had halted deliveries of its 787 Dreamliner. Federal regulators want more information about Boeing's proposed solutions to previously identified quality control issues. Source: CNBC May 21, 2021: Boeing Boeing shares edged roughly 3% higher after Reuters reported the aircraft manufacturer discussed increasing 737 MAX output to as many as 42 jets per month by late 2022. The news comes as Boeing seeks to recuperate from safety issues and the Covid pandemic. Source: CNBC May 18, 2021: U.S. House lawmakers seek Boeing, FAA records after production problems Two key House Democrats are seeking records from Boeing and the Federal Aviation Administration after production issues were found with the company's 737 Max and 787 Dreamliner aircraft. Rep. Peter DeFazio, D-Ore., chairman of the Transportation Committee and Rick Larsen, D-Wash., chairman of the Subcommittee on Aviation, requested a list and descriptions of FAA inspections at the 737 production plant in Renton, Washington, since 2017, and its Dreamliner factory in South Carolina since 2015, according to a letter they sent Tuesday to Boeing CEO Dave Calhoun, which was reviewed by CNBC. They also asked for supervision records, the results of audits and numbers of Boeing employees designated to perform oversight tasks at each site, among other information, said the letter. "Although it is essential that Boeing continue to voluntarily report issues such as these to the FAA, we are troubled that, even after the longest grounding of a civilian airliner in history, the persistence of quality-control lapses and manufacturing errors-across two different aircraft programs-remain," the lawmakers wrote. "This naturally raises questions about the sufficiency of the FAA's oversight of Boeing's commercial airplane programs as well as that of Boeing's internal quality controls and safety culture." The request comes less than a year after a report by the House Committee on Transportation and Infrastructure slammed Boeing over the design and development of the 737 Max, and the FAA for oversight lapses. Two of those planes crashed between October 2018 and March 2019, killing all 346 people on the flights. Boeing last year said it found improper spacing in some areas of the 787 fuselage. After inspections and a five-month pause, it resumed deliveries of the wide-body aircraft in March. Separately, an electrical issue on Boeing's bestselling 737 Max grounded more than 100 of the planes in April, though the FAA last week approved a fix. The lawmakers asked for responses by June 8 but said it "will consider a rolling production of these records if you are unable to fully complete your response by this date." A Boeing spokesman said the company is reviewing the request. The FAA is also reviewing the request and "will make every effort to respond to [the lawmakers] as quickly and completely as possible," a spokeswoman said in an emailed statement. The agency last month said it was auditing Boeing's process for making minor design changes as well as the origins of the electrical issue on the 737 Max. That issue is not related to the system implicated in the two fatal crashes. Source: CNBC May 17, 2021: RyanAir Holdings CEO on leisure travel rebound in Europe, Boeing management RyanAir Holdings CEO Michael O'Leary joined "Squawk Box" on Monday to discuss how he expects leisure travel to rebound and some of his concerns surrounding Boeing's management team. Source: CNBC May 05, 2021: Boeing beefs up business to convert old 737 passenger planes into cargo jets Boeing is adding capacity to convert old 737 passenger planes into cargo haulers, a bet on continued growth in e-commerce. The Chicago-based company said Wednesday it will add two production lines to convert Boeing 737-800s into freighters that will be operated by Cooperativa Autogestionaria de Servicios Aeroindustriales, which is located in a free-trade zone near Costa Rica's capital, allowing for the duty-free importation of parts. Converted 737 freighters have become more popular and won orders from Amazon as the e-commerce giant adds to the fleets of airlines that fly for its Amazon Air arm. Boeing already converts 737-800s into freighters in Shanghai, Guangzhou and Jinan, China. Source: CNBC May 05, 2021: Boeing-backed start-up Wisk signs first deal to operate air taxis in the U.S. Wisk Aero, a start-up backed by Boeing and Kitty Hawk, has finalized its first deal to operate autonomous air taxis in the U.S. The company will own, operate and maintain up to 30 eVTOL aircraft that will be offered through the Blade urban air mobility network. The deployment of Wisk air taxis is contingent upon the Federal Aviation Administration certifying the aircraft for commercial operation. "We have been focused on developing an aircraft and customer experience that is efficient, accessible and most importantly, safe," Wisk CEO Gary Gysin said in a release announcing the deal. "The combination of our expertise as an autonomous eVTOL aircraft manufacturer and operator, with the operational expertise of Blade, will help usher in an even greater level of safety and service." Source: CNBC Apr 22, 2021: Southwest CEO Gary Kelly on Boeing 737 Max groundings U.S. airlines temporarily grounded more than 60 Boeing 737 MAX jets earlier this month after the U.S. planemaker asked 16 carriers who operate the jet to address an electrical power system issue in the aircraft. Southwest Airlines CEO Gary Kelly joined "Squawk on the Street" to discuss the impact on the company. Source: CNBC Apr 21, 2021: Waiting to see when Boeing 737 Max will be allowed to fly in key markets like China, India: Analyst Kenneth Herbert of Canaccord Genuity discusses the latest situation facing Boeing's 777 franchise and 737 Max. Source: CNBC Apr 20, 2021: Boeing raises retirement age for CEO Calhoun by 5 years, CFO to retire Boeing on Tuesday said it is raising the mandatory retirement age of 64-year-old CEO Dave Calhoun from 65 to 70 as the company continues face challenges from the coronavirus pandemic, production issues and the aftermath of two crashes of its bestselling plane. Boeing's CFO, Greg Smith, will retire in July, the manufacturer said, a move that surprised some analysts, who had considered him a potential successor to Calhoun. The company said it is conducting a search for his replacement. Smith who has been in the CFO role since 2011 and has about three decades of experience at Boeing leaves a void at the manufacturer. Smith has been at Boeing most recently since 2008, and over the past two years helped the company raise debt to weather the Max and coronavirus pandemic crises, including a record $25 billion debt sale last year. "The retirement is a loss for BA, in our view, with big shoes to fill for the potential successor," wrote Jefferies aerospace analyst Sheila Kahyaoglu in a note. Cowen analyst Cai von Rumohr wrote: "Because Mr. Smith is highly regarded, investors will be sensitive to the timing and choice of a new CFO." Boeing shares fell more than 4.1% to end Tuesday at $234.06. Shareholders voted to re-elect the company's 10 board members, according to preliminary results. Calhoun, who joined Boeing's board in 2009, became CEO in January 2020 following a three-month stint as chairman. At the time, the company was reeling from the financial and reputational fallout from two crashes of its 737 Max planes within five months of one another. The board ousted the previous CEO over his handling of the crisis. Source: CNBC Mar 31, 2021: Quarterly Activities Report: Boeing Cash Balance decreases 9.9% The Cash Burn of operating activities was $3,387,000,000 in the quarter ended March 31, 2021. This corresponds to an average Cash Burn Rate of $1,129,000,000 per month. To support this Cash Burn Rate, the cash balance of $7,059,000,000 as at March 31, 2021 should be adequate till October 05, 2021. The cash runway defined by the length of time to run out of money if it kept spending at its current rate of cash burn is 5 months and 7 days from today's date.
2020 Dec 31, 2020: FY2020 Annual Cash Flow Report: Boeing Cash Balance decreases 19% As per a report dated December 31, 2020 the Cash Burn of operating activities was $18,410,000,000 in the year ended December 31, 2020. This corresponds to an average Cash Burn Rate of $1,534,166,667 per month.
Dec 17, 2020: Boeing Boeing CEO David Calhoun told CNBC that the jet maker was not planning a massive stock sale to cut debt, as suggested in a Morgan Stanley analyst report. Separately, Boeing is said to be hiring up to 160 pilots that it will embed at airlines to ensure a smooth comeback for its 737 Max jet's return to service, according to people familiar with the matter who spoke to Reuters. Source: CNBC Nov 19, 2020: Boeing shares will see limited upside from current level: Canaccord Boeing will step up aircraft deliveries for 2021, but its shares won't rise much until confidence is restored, says Canaccord Genuity's Ken Herbert. Source: CNBC Oct 29, 2020: Boeing Reports Third-Quarter Results Financial results continue to be significantly impacted by COVID-19and the 737 MAX grounding Proactively managing liquidity and transforming for thefuture Revenue of $14.1 billion, GAAP loss per share of ($0.79) and core(non-GAAP)* loss per share of ($1.39) Operating cash flow of ($4.8) billion; cash and marketablesecurities of $27.1 billion Total backlog of $393 billion, including more than 4,300 commercialairplanes Source: SEC Oct 27, 2020: Boeing: Document and Entity Information Cover Oct. 26, 2020 Cover [Abstract] Document Type 8-K Document Period End Date Oct. 26, 2020 Entity Registrant Name BOEING CO Source: SEC Oct 27, 2020: Boeing: 364-DAY CREDIT AGREEMENT THE BOEING COMPANY, a Delaware corporation ("TBC" or the "Company"), for itself and on behalf of the other BORROWERS (as defined below), the LENDERS (as defined below), CITIBANK, N.A. and JPMORGAN CHASE BANK, N.A., as joint lead arrangers and joint book managers, JPMORGAN CHASE BANK, N.A., as syndication agent, and CITIBANK, N.A., in its capacity as administrative agent for the Lenders (in such capacity, the "Agent"), agree as follows: Source: SEC Oct 16, 2020: Boeing 737 Max is safe to fly again, Europe's aviation regulator says Europe's aviation regulator has declared Boeing's 737 Max aircraft safe to fly after it was grounded in March 2019 following two accidents that left 346 people dead. Patrick Ky, executive director of the European Union Aviation Safety Agency, told Bloomberg Friday that he's satisfied with the changes Boeing has made to the aircraft, adding that the aircraft could return to the region's skies before the end of 2020. The announcement comes even though Boeing is yet to implement a software upgrade that his agency demanded. It could be two years before it's ready. After more than half a year with no orders, Boeing announced that it had sold two 737 Max planes to Polish charter airline Enter Air in August. Boeing and the European Union Aviation Safety Agency did not immediately respond to a CNBC request for comment. Source: CNBC Oct 16, 2020: Boeing Shares popped more than 3% after Patrick Ky, the head of Europe's aviation regulator, said the company's beleaguered 737 Max jet is safe to fly again. He added the aircraft could fly in the region once again before year-end. Source: CNBC Oct 16, 2020: Expecting Boeing 737 Max deliveries to start in early 2021, but at a low level: Jefferies aerospace analyst Sheila Kahyaoglu, Jefferies aerospace and defense analyst, joins 'Closing Bell' to discuss the significance of satisfying a top EU regulator with Boeing's 737 Max changes and when she expects Boeing 737 Max aircrafts to take off. Source: CNBC Oct 09, 2020: Boeing The Federal Aviation Administration issued new proposed training procedures for Boeing's grounded 737 Max jet, a key step in the jet's return to service. The proposals will be open for public comment until Nov. 2 before being finalized. Source: CNBC Oct 07, 2020: Boeing cuts industry airplane forecast by 11 percent CNBC's Phil LeBeau reports on Boeing's forecast for airplane demand for the next 10 and 20 years and the backlog it has on airplanes. Source: CNBC Oct 07, 2020: Boeing Shares of Boeing jumped nearly 4%, rebounding from sharp losses in the previous session. The stock fell 6.8% Tuesday after Boeing slashed its 10-year forecast for new aircraft demand by 11%. Separately, the Federal Aviation Administration on Tuesday issued new proposed training procedures for Boeing's grounded 737 MAX, a key milestone to the plane's eventual return to service. Source: CNBC Oct 06, 2020: Boeing slashes forecast for new aircraft demand, expects coronavirus pandemic to hurt sales for more than a decade Boeing is cutting its expectations for new commercial aircraft demand over the next decade, citing what it estimates will be a years-long slump in travel demand because of the coronavirus pandemic. The manufacturer forecast on Tuesday that the world's airlines will need 18,350 planes worth $2.9 trillion over the next 10 years, an 11% drop from its forecast a year ago and a jarring downbeat prediction after years of strong growth in travel around the world. Boeing shares fell after the report was released and were down more than 3% in afternoon trading. Through 2039, Boeing forecast 43,110 deliveries of new aircraft, three-quarters of them single-aisle jets, which are used for short-haul routes. In its annual forecast last year, Boeing estimated deliveries of 44,040 planes to customers through 2038. Airlines around the world are reeling from the pandemic and a web of travel restrictions that has devastated bookings. Boeing said demand for new commercial aircraft will be driven in the medium term by carriers replacing older, less fuel-efficient planes rather that purchases aimed at growth. Global travel demand won't recover to pre-pandemic levels until 2024, according to a forecast this summer by the International Air Transport Association, a trade group that represents many of the world's airlines. "The industry has faced challenges before, and from a comparative basis this challenge is. larger without question," said Darren Hulst, Boeing's vice president of commercial marketing. He added the industry has recovered from crises before and will likely rebound but that this will likely take several years. Hulst said international long-haul travel is expected to take longer to recover than shorter, domestic routes, echoing previous industry forecasts. One bright spot during the pandemic is air cargo, Hulst said, citing the grounding of hundreds of passenger jets that have removed capacity from the market. Another positive note is defense, which has become increasingly important to Boeing as commercial aviation suffers. Boeing forecast a $2.6 trillion market for the defense and space sectors over the next 10 years, $100 billion more than last year's estimate. In the first half of 2020, Boeing's sales fell 26% to $28.7 billion. Its defense and space unit generated nearly 44% of that revenue, compared with 34% of sales in the first six months of 2019. Source: CNBC Oct 06, 2020: Boeing Shares of the aircraft maker dropped 6.8% lower after slashing its 10-year forecast for new aircraft demand by 11% from a year ago. Boeing said the world's airlines will need 18,350 planes worth $2.9 trillion over the next 10 years. Source: CNBC Oct 01, 2020: Boeing will consolidate Dreamliner production in South Carolina as demand drops Boeing on Thursday said it plans to consolidate its 787 Dreamliner production at its South Carolina facility next year, a bid to lower costs amid weak demand, marking a blow for its Seattle-area production hub. Boeing in July said it would evaluate consolidating production lines for the widebody jets, which it currently has in both Everett, Washington, where it first started producing the planes in 2007, and North Charleston, South Carolina, a plant where the workforce isn't unionized. At that time, Boeing said it would further cut already-reduced production plans for the 787, a plane used often on international routes, which have been more affected than domestic ones during the coronavirus pandemic. It will make six 787 planes per month next year, down from 10. "To ensure we can be effective in a market that will be smaller in the near-term, and one that will have different demands from our customers long-term, we made a decision earlier this morning to consolidate 787 production in South Carolina after months of detailed and thorough study," Stan Deal, CEO of Boeing's commercial airplane unit, wrote in an employee memo. Boeing said mid-2021 was its "best estimate" for the start of the production consolidation in South Carolina. The company noted that only the North Charleston facility is set up to produce the 787-10, the largest model in the Dreamliner family. After the announcement, which was expected, Boeing's stock slipped from the day's highs and was up less than 1% in afternoon trading. Boeing announced the second production line for the 787 nearly 11 years ago, and consolidating production there is the latest pain for Boeing's workers and the economy around its Seattle-area production facilities. Boeing employs about 7,000 people in South Carolina and close to 70,000 in Washington state, according to its most recent counts. "Boeing's decision to pull its 787 production out of Washington state is shortsighted and misplaced," Rep. Rick Larsen, D-Wash., chairman of a House subcommittee on aviation and whose district includes Boeing's Everett plant, said in a statement on Wednesday. "As the economy comes back and air travel returns, I will fight to bring 787 production back to Everett." The dismal aircraft market on top of the aftermath of two fatal crashes of its bestselling 737 Max prompted a wave of cost-cutting. Boeing earlier this year said it planned to reduce its 160,000-person workforce by 10%, warning this summer that further cuts are possible. The Max, Boeing 767, 777 and 747 jets are made in the Puget Sound area of Washington state. Boeing also plans to stop making the iconic 747 jetliner, which is also produced in Everett, in 2022. Source: CNBC Oct 01, 2020: Cramer to investors: 'I think you buy' Boeing as it nears 'validation' in 737 Max review CNBC's Jim Cramer said Wednesday that he believes investors should add beleaguered aerospace giant Boeing to their portfolios. "I have not liked it. I think you buy it. You're really at the tail end of this mess," Cramer said on "Squawk on the Street." Source: CNBC Oct 01, 2020: Boeing to consolidate 787 production in South Carolina CNBC's Phil LeBeau joins "Squawk Alley" to report on Boeing's consolidation of 787 Dreamliner production at its facility in North Charleston, South Carolina. Source: CNBC Sep 30, 2020: FAA chief upbeat after flying the Boeing 737 Max, reiterates no firm timeline on approvals The head of the Federal Aviation Administration was upbeat about Boeing's 737 Max after testing out the plane on Wednesday, the latest turn in the process of getting the jetliners flying again after two fatal crashes. FAA Administrator Steve Dickson, a former commercial and military pilot, last year said he wouldn't clear the planes for service unless he flew the jet himself. The 737 Max jets, Boeing's bestseller, have been grounded worldwide since March 2019 after crashes in Ethiopia and Indonesia killed 346 people. Boeing has since made a number of changes to the planes. Pilots in both crashes struggled with an automated flight-control system, which the manufacturer has since made less powerful. "I liked what I saw," Dickson told reporters, adding that he hasn't flown a 737 in almost 15 years. "I felt that the training prepared me to be very comfortable." He flew the 737 Max 7, the smallest model in the family. The FAA and other regulators' review of the planes and the new training that will need to be approved before the jets can return to service are progressing. That could conclude in the coming months, but Dickson reiterated that the agency has no firm timeline. American Airlines, which had 24 Max planes in its fleet when it was grounded, is preparing to train its 737 pilots on the planes as early as November. Pilot training could take weeks and it isn't yet clear whether the planes could return to commercial fleets before the end of the year. Source: CNBC Sep 30, 2020: 'I think you buy it' - Jim Cramer on Boeing CNBC's Jim Cramer explains why he thinks Boeing is a buy. I've not liked it, but I think you buy it. You're at the tail-end of this mess, he says. People are just waiting to hear the planes are safe. Source: CNBC Sep 30, 2020: Quarterly Activities Report: Boeing Cash Balance increases 10% The Cash Burn of operating activities was $14,401,000,000 for the nine months ended September 30, 2020. This corresponds to an average Cash Burn Rate of $1,600,111,111 per month. To support this Cash Burn Rate, the cash balance of $10,564,000,000 as at September 30, 2020 should be adequate till April 16, 2021.
Sep 30, 2020: Boeing likely won't clear 737 Max inventory until 2023: Jefferies analyst Sheila Kahyaoglu, Jefferies aerospace and defense analyst, joins "Power Lunch" to discuss the test flight of the 737 Max and how Boeing will recover from the airliner's setbacks. Source: CNBC Sep 25, 2020: The Final Call: JETS, BA, CRM & NKE The Options Action traders offer their final trades of the week. Source: CNBC Sep 25, 2020: Boeing Boeing supplier Impresa filed for bankruptcy protection, stemming from the grounding of Boeing's 737 Max jet after two fatal plane crashes. The Max was a key source of revenue for privately held Impresa. Source: CNBC Sep 25, 2020: Boeing: FAA chief will fly 737 Max next week as agency approval nears CNBC's Phil LeBeau reports on Boeing's stock moves as the FAA chief says he will fly a 737 Max next week while agency approval nears. Source: CNBC Sep 21, 2020: Boeing & Raytheon make Goldman's conviction buy list The "Halftime Report" traders debate the biggest analyst calls of the day. Source: CNBC Sep 10, 2020: Boeing Boeing agreed to an independent review of its compliance and ethics practices centering on its behavior in bidding to win a lunar lander contract from NASA and the Air Force, according to an agreement between the parties seen by Reuters. Source: CNBC Sep 09, 2020: Boeing says 787 Dreamliner inspections are slowing deliveries, adding to company's problems Boeing on Tuesday said inspections stemming from production problems for its 787 Dreamliners are slowing deliveries of the wide-body jets, adding to the company's woes. The Chicago-based manufacturer said the issues it found on some of the planes are on the carbon-composite fuselage, due to improper widths on some material that fits between segments, as well as on the horizontal stabilizer at the rear of the airplane. Boeing first disclosed the stabilizer issue publicly on Tuesday. The Federal Aviation Administration said it is investigating the issues. "The agency continues to engage with Boeing," the FAA said in a statement. "It is too early to speculate about the nature or extent of any proposed Airworthiness Directives that might arise from the agency's investigation." Source: CNBC Sep 09, 2020: FAA reviews Boeing Dreamliner quality-control lapses after production problems, WSJ reports The Federal Aviation Administration is reviewing quality-control lapses at Boeing that could stretch back almost a decade, The Wall Street Journal reported Monday, citing an internal government memo and people familiar with the matter. The review piles onto the numerous regulatory issues Boeing has faced in the wake of two crashes involving its 737 Max planes that killed all 346 people onboard the two flights. Since then, Boeing has faced renewed scrutiny over its safety standards and manufacturing protocols as well as a deluge of questions from both regulators and lawmakers. Its 737 Max planes remain grounded. This latest assessment was prompted by production issues at a Boeing 787 Dreamliner factory, according to the report. An internal FAA memo reviewed by the Journal showed Boeing notified regulators that it had produced parts that did not meet its own design and manufacturing standards. As a result, the high-level FAA review could require enhanced or accelerated inspections for as many as roughly 900 of the approximately 1,000 Dreamliners delivered since 2011, according to the report. Boeing told regulators a defect in the Dreamliners from the quality lapse wouldn't pose an immediate safety risk, people familiar with the matter told the Journal, and regulators aren't planning immediate action. But in August, Boeing decided to voluntarily tell airlines to ground eight of the planes for immediate repairs due to the combination of that defect and a recently discovered assembly-line defect, the Journal reported. In a statement, a Boeing spokesperson said the company identified two separate manufacturing issues which, on their own, still met limit load conditions. But when combined, they "result in a condition that does not meet our design standards." Boeing notified the FAA and is conducting its own review of the "root cause," according to the statement and "immediately contacted the airlines that operate the eight affected airplanes to notify them of the situation, and the airplanes have been temporarily removed from service until they can be repaired." "Safety and quality are Boeing's highest priorities; we are taking the appropriate steps to resolve these issues and prevent them from happening again," the statement said. "The U.S. Federal Aviation Administration (FAA) has been fully briefed, and we will continue to work closely with them going forward." In a statement, the FAA said it "is investigating manufacturing flaws affecting certain Boeing 787 jetliners. The agency continues to engage with Boeing. It is too early to speculate about the nature or extent of any proposed Airworthiness Directives that might arise from the agency's investigation." Source: CNBC Sep 08, 2020: Boeing Shares of the aviation company fell 5.8% after the company announced that inspections into production problems with the 787 Dreamliners would slow deliveries. The Federal Aviation Administration said it is investigating issues found on some of the planes. The company also said that it delivered just 13 planes last month. Source: CNBC Sep 08, 2020: Negative 932 planes: Boeing order book year-to-date CNBC's Phil LeBeau reports on the latest order numbers for Boeing's planes. Source: CNBC Sep 08, 2020: FAA investigates Boeing 787 Dreamliner manufacturing process Boeing may be closer to getting the 737 Max back in service, but it's also facing another potentially costly FAA investigation. CNBC's Phil LeBeau joins "Squawk Box" with the details about the probe in the 787 Dreamliner. Source: CNBC Aug 19, 2020: 'Humbled' Boeing scores first new 737 Max orders since November Boeing on Wednesday said it scored the first orders for its beleaguered 737 Max planes since November, selling two of them to a Polish charter airline with options to buy two more. Enter Air and Boeing also reached a settlement over the grounding of the 737 Max, which has been out of service worldwide since March 2019 after two crashes killed 346 people. The companies didn't disclose the terms of the deal but said it would include deferring deliveries. "We are humbled by Enter Air's commitment to the Boeing 737 family," said Ihssane Mounir, Boeing's senior vice president of commercial sales and marketing, in a news release. Enter Air's orders for the Max aircraft won't make much of a dent in Boeing's troubles this year. Customers' cancellations of aircraft have outpaced new sales for the past six months as airlines grapple with both the extended grounding of the Max planes and as the coronavirus pandemic devastated air travel demand. Through July, Boeing had net negative orders of 836 planes, including aircraft the company took out of its backlog. Boeing shares fell 0.6% Wednesday to $169.27 and are down 48% so far this year. Source: CNBC Aug 18, 2020: Boeing Shares of Boeing dipped 1% after the planemaker said it will be offering a second voluntary layoff package to employees to depart the company with pay and benefits. CEO Dave Calhoun said the move will extend the company's layoffs beyond the initial 10% target. Boeing continues to suffer from devastated travel demand amid the pandemic. Source: CNBC Aug 11, 2020: Boeing order cancellations outpace new sales for sixth straight month as demand continues to fall Boeing customers canceled plans to buy 43 of the manufacturer's troubled 737 Max planes in July as scrapped orders outpaced sales for a sixth consecutive month, the company said Tuesday. Shares of the manufacturer eased from the day's highs but were still up nearly 4% after Boeing released the monthly data. Boeing last month said it would cut production targets for some of its aircraft including the 737 Max and the 787 Dreamliner as the coronavirus pandemic continues to hurt demand for new planes. This year through July, Boeing has net negative orders of 836 planes, including aircraft the company took out of its backlog of orders awaiting fulfillment. Boeing routinely removes orders from its running tally when customers are financially strained, among other reasons. The July adjustments trimmed the Chicago-based plane maker's backlog to 4,496 orders. Most of the 737 Max cancellations were from aircraft leasing companies. The company delivered four airplanes in July, including a 767 freighter and a 777 freighter as well as two 787 Dreamliners. The pandemic adds to Boeing's troubles since the March 2019 grounding of the 737 Max in the wake of two fatal crashes that killed 346 people. The Federal Aviation Administration is getting closer to allowing the planes to fly again but the company has yet to win final approval. CEO Dave Calhoun told CNBC late last month that he was "hopeful" aircraft demand would start to recover in the second half of 2021. Source: CNBC Aug 11, 2020: Boeing order cancellations outpace new sales for sixth straight month CNBC's Phil LeBeau breaks down the latest delivery and order numbers from Boeing. Source: CNBC Aug 11, 2020: Boeing: Global air traffic levels could return to 2019 standards by 2023: BofA Securities Shares of Boeing rose more than five percent on Monday on an increase air passenger traffic, but it will be a long road back for the stock. Ron Epstein, research analyst at Bank of America, joins "Squawk Box" to discuss. Source: CNBC Aug 04, 2020: Boeing supplier Spirit slides as pandemic brings pain beyond the 737 Max Shares of Spirit Aerosystems slipped on Tuesday after the key Boeing supplier swung to a loss and detailed trouble ahead because of the coronavirus pandemic's impact on jetliner demand. The Wichita, Kansas-based producer of fuselages and other aircraft parts swung to a $256 million loss in the second quarter from a $168 million profit a year earlier. The company has been challenged since the March 2019 grounding of the 737 Max after two fatal crashes. On Friday, Spirit said it was cutting 1,000 more jobs because of lower production rates. The reduction brought the company's workforce cuts to its commercial aviation unit to about 8,000 so far this year. Boeing last week revealed lower production targets for not only the 737 Max but double-aisle planes, which are used for long-haul international flights, the routes that have been most curtailed by the pandemic. Spirit Aerosystems on Tuesday said it recorded $194 million in forward losses mostly because of lower production of the Boeing 787 Dreamliner and the competing Airbus A350. Airlines' financial losses around the world are mounting because of the coronavirus and some are deferring deliveries or canceling them outright to reduce their costs. Spirit shares were down 2% in afternoon trading, while the S&P 500 was down modestly. Source: CNBC Aug 04, 2020: Boeing The Federal Aviation Administration released its guidelines for a return to service by Boeing's grounded 737 Max jet, including four key design and operating changes. The proposals do match what had been expected by Boeing and industry analysts. Source: CNBC Jul 31, 2020: Boeing Submits Response to the Future Fighter Capability Project Request for Proposal OTTAWA, July 31, 2020 -- Boeing [NYSE:BA] today announced that the Super Hornet response for the Future Fighter Capability Project (FFCP) was submitted on Tuesday, July 28. The F/A-18 Super Hornet Block III is a proven, affordable choice for the Royal Canadian Air Force (RCAF) and one that would bring unparalleled, guaranteed opportunities to Canadian industry from coast to coast. From Jim Barnes, Director, Canada Fighter Sales, Boeing Defense, Space & Security:"We have a partnership with Canada that spans more than 100 years. We don't take that lightly. The response we submitted today builds upon that great legacy and allows us to continue to bring the best of Boeing to Canada and the best of Canada to Boeing. The Super Hornet is the most cost-effective and capable option for the FFCP, and a Super Hornet selection will help the RCAF meet their mission needs, while leveraging existing infrastructure to drive down the long-term sustainment cost of the aircraft. Our proven, two-engine design can operate in the harshest environments and provide support no matter where the mission takes its pilots. That, coupled with Boeing's 100% guaranteed industrial plan, will also deliver long term, well-paying jobs." ContactAndrea PetersonBoeing Communications+1 703-638-8521andrea.j.peterson@boeing.com Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/115bc24a-d7c9-4e3a-aceb-869af97a703e https://www.globenewswire.com/NewsRoom/AttachmentNg/1d6a5c2b-ce84-499d-aad6-9a7abdd48743 Source: West Corporation Jul 31, 2020: How SpaceX beat Boeing in the race to launch NASA astronauts to space The launch of SpaceX's Crew Dragon capsule to the International Space Station on May 30 marked the first time NASA astronauts took off from U.S. soil since 2011. The event also represented the first time a commercially designed and built spacecraft carried astronauts, an achievement that SpaceX and Boeing have vied for for years under NASA's Commercial Crew Program. Source: CNBC Jul 29, 2020: Boeing CEO 'hopeful' aircraft demand starts to recover in second half of 2021 Boeing CEO Dave Calhoun on Wednesday said he was "hopeful" that demand for new aircraft, devastated by the coronavirus pandemic, would start rebounding in the second half of next year. Cancellations of Boeing planes are outpacing new orders this year as airlines reel from the impact of the virus and the company's key 737 Max remains grounded. Boeing posted a $2.4 billion loss for the second quarter of the year. It is also planning to reduce output and warned about the potential for more job cuts. "There is a customer calling us every day with a desire to want to defer and to deal with the difficult environments that they are dealing with," Calhoun said in an interview on CNBC's "Squawk on the Street." Boeing said it plans to delay until 2022 a ramp-up of 737 production to 31 a month, later than a forecast to do so next year. It will also cut output of its 787 wide-body plane to six a month from 10. It will produce just two 777 planes a month from five currently, the company said. Calhoun said he expects an uneven recovery from the pandemic for airlines around the world and that carriers that emerge healthy might want to gain an advantage over competitors with newer planes, driving demand. "China, Europe seem to have a little more control over their environments than the U.S. does at the moment," Calhoun said. "It'll happen and I believe somewhere in, depending on a vaccine and the success and distribution of a vaccine, somewhere in the second half of next year I'm hopeful that this worm turns." Boeing shares were down more than 4% on Wednesday morning. Source: CNBC Jul 29, 2020: Boeing Shares of Boeing dropped 4% after the jet maker said it plans to cut aircraft production and warned about the possibility of further reductions in its workforce due to the pandemic. Boeing also reported a quarterly loss of $4.79 per share, wider than the loss of $2.54 anticipated by analysts, according to Refinitiv. Revenue was well below estimates. Source: CNBC Jul 29, 2020: Boeing CEO: Demand for new aircrafts could rebound in second half of 2021 Boeing CEO David Calhoun tells CNBC's Phil LeBeau he expects demand for new aircrafts would start rebounding in the second half of next year. Source: CNBC Jul 29, 2020: Boeing CEO Dave Calhoun: US carriers have been 'kept alive' by federal aid Boeing CEO Dave Calhoun said in May that he suspected a major U.S. carrier may go out of business as a result of the coronavirus pandemic. He joins "Squawk on the Street" to discuss whether his perspective on the issue has changed. Source: CNBC Jul 28, 2020: Boeing: Caution Concerning Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of thePrivate Securities Litigation Reform Act of 1995. Words such as "may," "should," "expects," "intends," "projects," "plans," "believes," "estimates,"targets," "anticipates," and similar expressions generally identify these forward-looking statements. Examples of forward-looking statements include statements relating to our future financial condition and operatingresults, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on expectations and assumptions that we believe to be reasonable when made, but that may not prove to beaccurate. These statements are not guarantees and are subject to risks, uncertainties, and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially and adversely from these forward-lookingstatements. Among these factors are risks related to: (1) the COVID-19 pandemic and related government actions, including with respect to our operations, our liquidity, the health of our customers and suppliers, and future demand for our productsand services; (2) the 737 MAX, including the timing and conditions of 737 MAX regulatory approvals, lower than planned production rates and/or delivery rates Source: SEC Jul 28, 2020: Air Force Veteran Sullivan Joins Boeing Canada Team Will serve as Managing Director for Canada, based in Ottawa OTTAWA, Ontario, July 28, 2020 -- Boeing [NYSE:BA] today named Charles S. "Duff" Sullivan as Managing Director of Boeing Canada, effective August 4. He will be based in Ottawa and report to Donna Hrinak, President of Boeing Canada. Sullivan will be responsible for strengthening company-to-country relationships and pursuing new business and industrial partnerships. He succeeds Bob Cantwell, who is based in Vancouver and will become director of policy and strategy integration for the Boeing Canada team. "Duff has a distinguished 40-year career in aviation, aerospace, the military, public safety and security," said Hrinak. "His unique expertise will advance Boeing's relationships and help develop new business opportunities that can further expand our century-long partnership with Canada." Prior to joining Boeing, Sullivan served as Chairperson and Chief Executive Officer for the Transportation Appeal Tribunal of Canada. He is also a veteran of the Royal Canadian Air Force, where he accumulated over 3,500 flying hours on jet aircraft, 1,600 of which were flown in the CF-18 Hornet. Sullivan has also served in several senior executive and leadership positions throughout his career, most notably as Director-General of Capability Development at National Defence Headquarters; Director of International Security and Senior Defence Adviser in the Prime Minister of Canada's Privy Council Office; Major-General on a 12-month tour of duty in Afghanistan as NATO's Air Component Commander; and, Director of Operations for the Canadian North American Air Defense Command Region during 9/11 and the G8 and G20 Summit in Kananaskis. Source: West Corporation Jul 28, 2020: Trading Nation: Boeing earnings on deck-Here's what two traders are expecting Todd Gordon of Ascent Wealth Partners and Steve Chiavarone of Federated Hermes discuss if Boeing is in a favorable position ahead of its earnings with Seema Mody. Source: CNBC Jul 24, 2020: FAA warns of possible engine shutdowns in safety directive on older Boeing 737 jets The Federal Aviation Administration on Friday instructed airlines to inspect some stored Boeing 737 planes for corrosion that could lead to engine shutdowns as hundreds of aircraft remain idled because of a drop in demand amid the coronavirus pandemic. The order for inspections on planes that have not been operated for a week or more will impact about 2,000 jets in the U.S., the FAA said. The orders do not relate to the Boeing 737 Max, which has been grounded worldwide since March 2019 after two deadly crashes. Boeing said it advised operators of older 737 planes to inspect engine valves for corrosion. The airworthiness directive came after four reports of single-engine shutdowns caused by engine bleed air valves that were stuck open, the FAA said in its order. "With airplanes being stored or used infrequently due to lower demand during the COVID-19 pandemic, the valve can be more susceptible to corrosion," the manufacturer said in a statement. Alaska Airlines said that one of its aircraft experienced an engine shutdown on July 15 on a flight between Seattle and Austin, Texas, and that "the safety of the flight was not compromised." After an emergency landing the engine that had the issue was replaced in Austin, the airline said. The Seattle-based carrier is inspecting six of its 737s at a maintenance base, work that began before the FAA's order, the airline said. American Airlines said four of its more than 300 Boeing 737 NG planes were inspected and cleared. The carrier's operations aren't expected to be disrupted, said American Airlines spokesman Ross Feinstein. Southwest Airlines which operates an all-Boeing 737 fleet said that it "has not experienced the conditions described in the directive," but that it's reviewing the order to see if it applies to its planes. "Currently, we do not anticipate any disruption to our operation as we work to review the aircraft in storage that are affected by the AD," the Dallas-based airline said in a statement about the airworthiness directive. Delta Air Lines also said it doesn't expect any impact to its operation or flight schedule. "Our commitment to safety for our customers and people calls for meeting and exceeding all directives from our regulators - including airworthiness directives," the carrier said in a statement. "We will ensure compliance with this directive as nothing is more important at Delta than the safety of our customers and people." United Airlines also said that it is complying with the directive and that it doesn't expect its schedule to be disrupted. Source: CNBC Jul 24, 2020: FAA issues directive on parked Boeing 737 NG models The FAA issues a directive that airlines and leasing companies must check the air valves in parked Boeing 737 NG models due to the possibility of corrosion. CNBC's Phil LeBeau reports. Source: CNBC Jul 21, 2020: Boeing's 737 Max return may happen later than company plans CNBC's Phil LeBeau reports on the Boeing's latest 737 Max recertification update. Source: CNBC Jul 20, 2020: Boeing Boeing is running out of space to store newly built 787 Dreamliners, according to a Bloomberg report, with more than 50 jets currently on its premises. Source: CNBC Jul 14, 2020: Boeing 737 Max cancellations climb again in dismal first half of the year Boeing on Tuesday said customers canceled another 60 of the company's beleaguered 737 Max planes in June, capping a bleak first half of the year for the manufacturer. That tipped Boeing's net cancellations to 323 planes in the first six months of the year. At the same point last year, the company had logged net orders for 21 planes. Boeing's 737 Max has been grounded since March 2019 after two fatal crashes killed 346 people combined. The Federal Aviation Administration late last month started flight tests that would pave the way toward the planes' recertification, but their review will take several more weeks. The coronavirus pandemic has handed Boeing an additional and broader challenge as demand for new planes dries up. Airlines are posting deep losses and are racing to shrink rather than add new aircraft and routes. Boeing's backlog shrank to 4,552 to planes, a tally that included orders the company periodically removes due to customers' financial trouble or other factors. For many customers, it was easier to scrap orders after the 737 Max was grounded for more than 12 months. Source: CNBC Jul 14, 2020: Boeing posts sixth straight month without order growth CNBC's Phil LeBeau reports on the latest order numbers from Boeing, which showed negative orders for the month of June. Source: CNBC Jul 10, 2020: American Airlines tells Boeing: No financing, no 737 Max deliveries American Airlines executives have told Boeing they will not take delivery of 17 737 Max airplanes unless the carrier can secure financing to pay for the aircraft, people familiar with the discussions told CNBC. The 17 Max planes are already built, but will not be delivered until the Federal Aviation Administration recertifies the aircraft and removes a grounding order, which is expected to happen later this summer or by early fall. When the FAA grounded the Max in March 2019, it meant Boeing was not allowed to deliver the 17 Max planes it had built for American. During the 15 months since the grounding, the financing for some of the 737 Max planes expired, leaving them unfunded. The situation means Boeing Capital, which is Boeing's financing division, will have to find a way to arrange financing for those planes. This could involve Boeing Capital buying the planes and leasing them to American. Another possible scenario could involve third-party aircraft leasing companies financing the planes in question. While Boeing will not comment specifically on its discussions with American, or on any other order, the company told CNBC: "Our focus continues to be on working with global regulators on the rigorous process they have put in place to safely return the 737 MAX to commercial service. We are not going to comment on discussions with our customers. It is an unprecedented time for our industry as operators confront a steep drop in traffic. We continue to work closely with our customers to support their operations, while balancing supply and demand with the realities of the market." American has already taken delivery of 24 Max planes, and has another 76 ordered with Boeing. The Wall Street Journal previously reported American executives have threatened to cancel some of its Max orders. Those familiar with the talks told CNBC that the possible cancellation of deliveries only involves the 17 Max planes scheduled to be turned over to American this year. Orders for its remaining 59 Max planes have not changed and the airline has no plans to cancel them. Earlier this summer, as American was burning through more than $50 million a day, CFO Derek Kerr said his airline would not take delivery of new airplanes unless the aircraft were financed with terms similar to those the airline enjoyed before the Covid-19 pandemic. The 737 Max, Boeing's bestseller, has been grounded worldwide in the wake of two crashes that killed 346 people. Boeing has since made changes to a flight-control system in an effort to get the aircraft recertified and flying again. Source: CNBC Jul 06, 2020: Boeing Another key test flight for Boeing's grounded 737 Max jet could take place as soon as this week, according to The Wall Street Journal. An "operational readiness review" will be conducted involving government pilots and airline crews from around the world. Source: CNBC Jul 02, 2020: Boeing Boeing and the Federal Aviation Administration (FAA) have completed a series of recertification test flights for the grounded 737 Max jet. The FAA will now conduct a data review, and still must approve a pilot training program and other details before the jet can return to service. Source: CNBC Jul 01, 2020: Top U.S. Air Force officer praises Boeing CEO for fixes to aerial tanker WASHINGTON - The nation's highest-ranking Air Force officer praised Boeing CEO Dave Calhoun for quickly working with the Department of Defense to fix the KC-46 aerial refueling tanker, which the defense contractor promised would be the backbone of U.S. airpower. "I'm far more confident today in the performance and the behavior of Boeing on the KC-46 than I ever been in my entire time here and I give the new CEO, a lot of credit for being a man of his word," Air Force Chief of Staff Gen. David Goldfein said in a teleconference hosted by Brookings. Calhoun, who ascended to the top spot at Boeing in January, committed to the four-star general that he would rectify the issues lumbering over the new tanker program. "Three days after the new CEO Dave Calhoun got in place, I wrote him a letter, he came to see me. We had a very frank conversation and I asked him for a couple of things," Goldfein said. He said he told Calhoun: "Listen, I'm not seeing the resources being placed against this program that need to be placed. I'm no longer interested in half measures when it comes to remote visual system, and quite frankly I'm not seeing the talent from the company on this program that I should be seeing." Last January, after a two-year delay, the Air Force received its first two Boeing aerial refueling tankers. And while the Air Force plans to buy 179 tankers, the program has been plagued with a litany of problems, including foreign object debris and issues with the camera system used during the refueling process. The delivery marked a major milestone for the program which was more than $3 billion over budget. Source: CNBC Jul 01, 2020: Boeing Boeing did not give regulators documents about key changes it made in the 737 Max flight control system prior to its original approval, according to an inspector general report seen by Reuters and AP. Boeing began test flights this week to recertify the aircraft for a return to service. Source: CNBC Jun 30, 2020: Boeing Shares of the plane maker slid 5.8% after Norwegian Air said it was canceling an order for nearly 100 jets. The airline also said that it would seek payment for the grounding of its Boeing 737 Max planes. Source: CNBC Jun 30, 2020: Quarterly Activities Report: Boeing Cash Balance increases 109% The Cash Burn of operating activities was USD9,582,000,000 for the six months ended June 30, 2020. This corresponds to an average Cash Burn Rate of USD1,597,000,000 per month. To support this Cash Burn Rate, the cash balance of USD19,992,000,000 as at June 30, 2020 should be adequate till July 11, 2021.
Jun 30, 2020: As Boeing tracks for best month since 1982, Oppenheimer says watch this key level Boeing is on track for its best month since 1982. The company's shares are up 26% in June, cutting back steep losses for the year. The stock was lower on Tuesday after Norwegian Air canceled orders for 97 Boeing jets a day earlier. This follows a spike on Monday after the company began tests of its 737 Max in the hopes of recertifying the model since its grounding in March 2019. "We see Boeing as one of the recovery stocks that were hard hit through the Q1 Covid collapse. Now, we think it is in the process of basing but it should continue to ebb and flow over the coming month. That basing has more work to do," Ari Wald, head of technical analysis at Oppenheimer, told CNBC's "Trading Nation" on Monday. Wald does not see the stock as a buy given it remains below its 200-day moving average. However, he does see one key level that short-term investors can use to their advantage. "Traders can trade off of support at $166. That's where the stock's June breakout lines up with the 50-day average. Looks like there could be some additional countertrend relief as long as the stock is above $166. Of course, below it and we're talking about some damage to that base and the possibility of some follow-on selling," said Wald. Boeing would need to drop nearly 10% to reach $166. Source: CNBC Jun 30, 2020: Too early to get bullish on Boeing: Analyst Uncertainty surrounding airline orders, consumer demand and the 737 Max's re-certification process will all contribute to continued volatility in the Boeing stock, says Canaccord Genuity's Ken Herbert. Source: CNBC Jun 29, 2020: Boeing The plane manufacturer's stock fell nearly 2% in extended trading, after surging more than 14% earlier in the day. On Monday, the Federal Aviation Administration began recertification test flights of the Boeing 737 Max. The flights are a key regulatory step in getting the planes back in service after two fatal crashes more than a year ago. Regulators will continue to evaluate the planes for several more weeks, and Boeing expects they will be back in commercial service by the late fall. Source: CNBC Jun 29, 2020: FAA starts Boeing 737 Max test flights, a milestone in getting the planes back in service after crashes The Federal Aviation Administration began recertification flights of the Boeing 737 Max on Monday, a key step toward permitting the planes to return to service after two fatal crashes more than a year ago. The 737 Max, Boeing's bestseller, has been grounded worldwide since March 2019 after the crashes - one in Indonesia and another in Ethiopia - within five months of one another. All 346 people on the flights were killed in the crashes. Boeing has since changed a flight-control system that was implicated in both crashes and has made other tweaks. Additional scrutiny of the aircraft contributed to repeated delays in the recertification process. Boeing shares added to earlier gains after the first Max certification flight took off, adding more than 14% to end the day at $194.49, leading the Dow Jones Industrial Average higher. "The FAA is following a deliberate process and will take the time it needs to thoroughly review Boeing's work,′ the FAA said in a statement. "We will lift the grounding order only after we are satisfied that the aircraft meets certification standards." The first flight departed 10 a.m. Pacific time from Seattle with other flights scheduled over about three days. "The tests are being conducted by test pilots and engineers from the FAA and Boeing," the FAA said. Regulators' evaluation of the planes will continue for several more weeks and Boeing expects they will be back in commercial service by late fall. Other steps include an international evaluation of minimum pilot training requirements, the FAA said over the weekend. "It is important to note, getting to this step does not mean the FAA has completed its compliance evaluation or other work associated with return to service," the FAA said in a note to members of Congress on Sunday. "The FAA has not made a decision on return to service. We have a number of steps remaining after the conclusion of the certification flights." Boeing late last month resumed production of the planes after a pause earlier this year. While it still has a robust backlog, Boeing has logged dozens of cancellations from customers. The Covid-19 pandemic is also expected to mean lower-than-usual travel demand for years, Boeing and airline executives have said, which could further hurt demand for new planes. Source: CNBC Jun 26, 2020: This analyst has a buy on Boeing and a hold on airline industry Colin Scarola, CFRA research, joins 'Power Lunch' to discuss why he has a hold rating on most of the airline stocks. Source: CNBC Jun 25, 2020: Airbus Americas CEO on air travel safety, mask requirements, Boeing and more Wednesday was a rough day for airline stocks. The major carriers all saw their stocks fall sharply on worries about a surge in Covid-19 cases and a 14-day quarantine being imposed on some travelers by New York, New Jersey and Connecticut. Jeffrey Knittel, CEO of Airbus Americas, joins "Squawk Box" and CNBC's Phil LeBeau to discuss the state of the industry amid the pandemic. Source: CNBC Jun 12, 2020: Boeing Boeing has pulled back on its restart of production for the 737 Max jet, according to The Wall Street Journal. The paper said the jet maker has told key supplier Spirit AeroSystems (SPR) to freeze recently restarted production of parts, amid the virus-induced slump in travel demand. Source: CNBC Jun 11, 2020: Boeing Shares of the embattled aerospace manufacturer fell more than 16% amid concerns about a second wave of the coronavirus. The pandemic's potential long-term impact on travel demand has hurt the outlook for the company, and Boeing had to idle some of its plants during the more strict shutdown period to help slow the spread of the virus Source: CNBC Jun 10, 2020: Boeing aims for 737 Max recertification flight by end of June CNBC's Phil LeBeau reports on Boeing's plans to fly a recertification flight of its 737 Max jet, according to sources. Source: CNBC Jun 10, 2020: A sustained pickup in air traffic is driving Boeing's stock rally: Jefferies Air traffic has been steadily recovering since the week of May 18, fueling a broad cyclical rally in industrials and airlines, according to Sheila Kahyaoglu of Jefferies, which has been tracking global flight schedules. She says the recovery is driving a surge in Boeing stock, and investors are not being discouraged by order cancellations. Source: CNBC Jun 10, 2020: Boeing aircraft cancellations continue to outpace new orders Boeing logged orders for new freighter planes in May, but cancellations continued to outpace new business as the coronavirus roils the air travel industry. The company reported nine orders and twice as many cancellations, which included a switch of a delivery slot for a 747 freighter for UPS, the company said. The scrapped orders included 14 of its 737 Max planes, the beleaguered jet that has been grounded since March 2019 after two fatal crashes killed 346 people. Boeing's backlog shrank to 4,744 planes, the lowest since 2013, including orders the company periodically removes from its tally due to financial trouble or other factors at some customers, a practice it didn't have in place seven years ago. Boeing shares were off more than 3% in midday trading. The manufacturer's stock has rallied close to 70% over the past month as signs of passengers returning to air travel lifted the sector, but its shares are still down more than 30% so far this year. Source: CNBC Jun 09, 2020: Boeing reports negative 86 plane orders in May CNBC's Phil LeBeau delivers the latest airplane orders for Boeing. Source: CNBC Jun 09, 2020: Boeing Boeing remains on watch after rising for six straight sessions and adding 58% in value during that time on hopes of a travel industry rebound and a boost in jet demand. Source: CNBC Jun 09, 2020: Here's what may have caused Boeing's rally Ron Epstein, senior equity analyst at Bank of America, joins "Squawk Box" to discuss Boeing's stock performance the past month. Source: CNBC Jun 08, 2020: Most bad news for Boeing already priced in: Aerospace and defense analyst Richard Safran, Seaport Global Securities senior aerospace and defense analyst, joins 'Power Lunch' to discuss why he's bullish on Boeing as air travel stocks are on the move following a reopening economy. Source: CNBC Jun 08, 2020: Boeing Seaport Global Securities initiated coverage of the jet maker with a "buy" rating and a $277 price target, saying the worst of pandemic-related risk is now priced in and that Boeing's free cash flow could peak at a higher rate than is now generally expected. Source: CNBC Jun 05, 2020: Apple and Boeing are Dow powerhouses-Here's what investors should know CNBC's Kelly Evans discusses Apple and Boeing's stock price movements with Dan Ives of Wedbush and Cai Von Rumohr. Source: CNBC Jun 02, 2020: Boeing: Coronavirus sends MD-88 'Mad Dog' jets to an early retirement from U.S. fleets A noisier era of aviation ends Tuesday when Delta Air Lines retires its "Mad Dog" jets. Its remaining MD-88s - and a quieter, younger model, the MD-90 - are headed to an early retirement because of the coronavirus pandemic. Delta expected to retire the twin-engine MD-88s at the end of this year and the MD-90s by the end of 2022, but a sharp drop in travel demand has prompted it to idle more than 600 planes and retire some of its older jets early. The carrier is also planning to retire its Boeing 777 fleet by the end of the year. Delta is the last U.S. airline to operate the planes after American Airlines retired its MD-80 fleet in September. The retirement also ends the era of the McDonnell Douglas name, the company that Boeing acquired in 1997. The planes' were based on a jet whose history stretches back to the 1960s, the DC-9. The final scheduled passenger flights, DL88 and DL90, depart from Washington Dulles International Airport and Houston's George Bush Intercontinental Airport, respectively, to Delta's home and hub Atlanta. After that they will be parked in Blytheville, Arkansas. The MD-88s, first delivered to the carrier in 1987, were so key to Delta's network that they were used on half of the flights at its Atlanta hub in 2014. But the planes weren't necessarily a welcome arrival. When Delta removed them from its New York LaGuardia Airport service in March 2017 Sen. Chuck Schumer, D-N.Y., said, "We welcome Delta Air Lines' positive and responsive decision to retire these aircraft, which will provide some much-needed noise relief to all nearby neighborhoods." Because of the coronavirus, Delta is forgoing the usual fanfare of an aircraft retirement, but a spokesman said dozens of aviation enthusiasts bought tickets for the final flights. Source: CNBC May 28, 2020: ETF Spotlight: Aerospace stocks rise as Boeing resumes 737 Max production CNBC's Sara Eisen takes a look at the aerospace and defense sector as Boeing jumps on news it has resumed production of its 737 Max airliner. Source: CNBC May 28, 2020: Boeing: Stocks making the biggest moves midday: Dollar Tree, HP, Twitter, Six Flags & more Boeing - Shares of the aerospace company rose 2.8% as it resumed production of the 737 Max jet. The plane, which was involved in two fatal plane crashes, has been grounded for more than a year as Boeing works to get approval from regulators. Source: CNBC May 27, 2020: Stocks making the biggest moves in the premarket: Tractor Supply, Disney, Boeing, Tesla & more Boeing (BA) - The jet maker plans to announce 2,500 voluntary layoffs this week, according to union officials. This would be the first phase of wider job cuts that Boeing has said will amount to about 10% of its workforce. Source: CNBC May 27, 2020: Boeing resumes production of beleaguered 737 Max planes Boeing has resumed production of its beleaguered 737 Max planes, the company said Wednesday. Boeing halted production of the jetliners in January as a worldwide grounding of the planes dragged on longer than expected. Airlines have been prohibited from flying the jets since March 2019 after the second of two fatal crashes that together killed 346 people. While expected, the restart of 737 Max production is a milestone for Boeing. The company halted deliveries of the planes shortly after the second crash and has been logging a surge in cancellations from customers this year as the coronavirus pandemic adds to Boeing's struggles. It continued producing the planes until it suspended output in January. Meanwhile, hundreds of them had piled up in storage facilities around the U.S. The recertification process for the jets was beset with delays as new problems cropped up and tasks took longer than expected. Boeing declined to comment on whether the FAA was close to certifying the planes as safe to fly again. "Work on the project continues, as does our steadfast refusal to speculate on a timeframe for completing it," the FAA said in a statement. Airlines were clamoring for the new fuel-efficient planes last year to help cater to strong travel demand. But this year they have the opposite problem: too many planes and not enough passengers as the virus and measures to stop it from spreading keep would-be customers close to home. Source: CNBC May 27, 2020: Stocks making the biggest moves after hours: Boeing, Workday, Toll Brothers and more Boeing - The plane manufacturer's stock lifted 4% in extended trading after the company announced it was resuming production of the 737 Max aircraft at its Washington factory. Production of the plane was suspended in January, but the 737 Max has been grounded since March 2019 after the model was involved in two crashes that killed 346 people. Source: CNBC May 27, 2020: Boeing notifying first 6,770 workers of layoffs CNBC's Phil LeBeau reports on Boeing's decision to cut over 6,000 workers amid the coronavirus pandemic. Source: CNBC May 27, 2020: Boeing is laying off more than 6,000 employees this week as coronavirus pandemic hurts demand Boeing is planning to lay off more than 6,000 employees this week in an effort to slash costs as the coronavirus pandemic continues to devastate the air travel and aerospace industries. The aircraft manufacturer previously said it is seeking to reduce its head count by 10% through voluntary and involuntary separations from the company. Boeing said in its 2019 annual report that it had more than 160,000 employees. "Following the reduction-in-force announcement we made last month, we have concluded our voluntary layoff (VLO) program," CEO Dave Calhoun said in a note to employees. "And now we have come to the unfortunate moment of having to start involuntary layoffs (ILO). We're notifying the first 6,770 of our U.S. team members this week that they will be affected." Thousands of other employees will be laid off over the next few months and 5,520 other Boeing employees have been approved for voluntary separations, Boeing said. "I wish there were some other way," Calhoun said. "For those of you who are notified, I want to offer my personal gratitude for the contributions you have made to Boeing, and I wish you and your families the very best." The virus has driven down demand for air travel, hurting the airline and leasing customers Boeing relies on. Airlines are posting their first losses in years and the virus has sapped demand for new planes, a trend that is affecting both Boeing and its main rival, Europe's Airbus. The pandemic is an additional crisis for Boeing. The company had already been struggling with the aftermath of two crashes of its 737 Max planes that killed 346 people. The jetliners, Boeing's most popular plane, have been grounded worldwide since shortly after the second crash, an Ethiopian Airlines plane in March 2019. Now, cancellations of Boeing orders are piling up. Late last month, Boeing raised $25 billion in its largest ever debt sale to help it weather the downturn, a sum that it said allowed it to forgo federal aid. Source: CNBC May 21, 2020: Here are Thursday's biggest analyst calls of the day: Boeing, Royal Caribbean, Nvidia & more Here are the biggest calls on Wall Street on Thursday: Stifel upgraded Lowe's to 'buy' from 'hold' Stifel upgraded the home improvement retailer after the company reported a beat on earnings and revenue for the first-quarter. Source: CNBC May 21, 2020: Boeing: Stocks making the biggest moves in the premarket: Macy's, Best Buy, BJ's, Hormel & more Boeing (BA) - Boeing was rated "outperform" in new coverage at RBC Capital Markets. The firm notes the risks associated with the airline industry in general and uncertainty surrounding the return of Boeing's grounded 737 Max jet, but said the stock has a favorable risk/reward profile and that the company's defense business is undervalued. Source: CNBC May 21, 2020: Stocks making the biggest moves midday: Boeing, Norwegian, Live Nation, Best Buy, L Brands & more Boeing - Shares of the industrial name jumped more than 5% after RBC initiated coverage on the stock with an outperform rating. "Acknowledging the uncertainty regarding the return to service of the 737-MAX and broader health of the airline industry, we see a favorable Risk/Reward profile in the stock and view the defense business as undervalued," RBC said. The firm's $164 target is 17% above where the stock currently trades. Source: CNBC May 21, 2020: Hedge funds bailed on Boeing, airlines and these other stocks during the market rout Amid the brutal coronavirus sell-off, hedge funds fled some of the most-impacted industries, with Boeing and airline stocks being the most-exited positions during the first quarter. Dumping these stocks helped hedge funds avoid big losses. The 10 stocks with hedge fund ownership falling the most during the first quarter lagged the S&P 500 by nearly 20% on average in 2020, according to an analysis from RBC Capital Markets based on the latest quarterly regulatory filings from 342 hedge funds. Source: CNBC May 20, 2020: Boeing: European stocks close 1% higher as investors monitor earnings and reopening efforts The pan-European Stoxx 600 index closed 1% higher provisionally, with tech stocks rallying over 2% to lead gains as all sectors and most major bourses entered positive territory. European markets are attuned to the latest coronavirus developments Wednesday with efforts to develop a vaccine and the prospects for economic recovery in focus. It comes as many countries tentatively ease lockdown measures. Hopes of an effective coronavirus vaccine have been shaken, however, as several vaccine experts said the pharmaceutical company Moderna - which announced Monday that its potential Covid-19 vaccine appeared to be generating an immune response in human trial subjects - did not provide enough information to determine how effective the vaccine is, according to a STAT News report. The experts suggested that the recent announcement from Moderna should be taken "with a big grain of salt." Still, stocks stateside posted solid gains following a weak session Tuesday, with investors watching the reopening of states and strong retail earnings results. Source: CNBC May 20, 2020: Boeing: Richard Branson's Virgin Orbit to attempt its first rocket launch from a 747 aircraft this weekend Sir Richard Branson's Virgin Orbit is set to conduct its first orbital rocket launch as early as Saturday, in the final test of its Boeing 747 aircraft-based system. Virgin Orbit's modified aircraft is scheduled to take off from the Mojave Air and Space Port in California at 1 p.m. EDT and fly out over the Pacific Ocean. If all the company's systems are ready, the aircraft will release the LauncherOne rocket, which will then fire its engine and head for space. The company plans to use the rocket to launch satellites, with the "air launch" system giving a schedule flexibility that Virgin Orbit touts over more common ground-based launch systems like those of SpaceX and Rocket Lab. Virgin Orbit is a spin-off of Branson's Virgin Galactic space tourism company. While both of the companies launch spacecraft from the air - rather than the ground - that's where the similarities end. Virgin Orbit uses a former commercial jet and will launch satellites the size of refrigerators to orbit, while Virgin Galactic has a one-of-a-kind aircraft and plans to send paying tourists on rides at the edge of space. Last year the company conducted a drop test of a rocket from the 747, in a final key test before this first launch. Source: CNBC May 16, 2020: Saudi sovereign fund discloses stakes in Citi, Boeing, Facebook PIF disclosed a $713.7 million stake in Boeing Source: CNBC May 14, 2020: Delta to retire Boeing 777s as pandemic dims outlook for international travel Delta Air Lines said Thursday it may have 7,000 too many pilots this fall and announced it will retire its fleet of Boeing 777s, a sign the airline expects a lengthy downturn in long-haul international travel as the coronavirus batters demand. CEO Ed Bastian said in a staff memo that the airline aims to eliminate its daily cash burn by the end of the year as the pandemic's toll on air travel continues. Delta shares closed down less than 0.2% while the S&P 500 gained 1.2% The Atlanta-based airline said it has halved its daily cash burn to $50 million a day this month, as planned, by cutting flights and reducing other expenses. "Our principal financial goal for 2020 is to reduce our cash burn to zero by the end of the year, which will mean, for the next two to three years, a smaller network, fleet and operation in response to substantially reduced customer demand," Bastian's memo said. Source: CNBC May 14, 2020: Stocks making the biggest moves midday: Boeing, Cisco, 3M, Fiat Chrysler, DraftKings & more Boeing - Shares of the aerospace giant finished with a gain of 0.8% after falling in early trading. Delta Air Lines announced that it was retiring its fleet of 18 Boeing 777 planes and replacing them with more fuel-efficient models from Airbus. Delta said it will stop using its 777s at the end of the year. Source: CNBC May 14, 2020: Boeing CEO tries to smooth over tensions with airline chiefs after saying a US carrier 'likely' to go bust Boeing Chief Executive Dave Calhoun has spoken with some airline CEOs in recent days to try to smooth over tensions after he told NBC's "TODAY" show that a U.S. carrier will "likely" go out of business as a result of the coronavirus pandemic, according to people familiar with the matter. A high-ranking airline executive at United complained to Calhoun about the comment, according to people familiar with the matter. American's CEO, Doug Parker, was also upset about Calhoun's comment, a person familiar with the matter said. When asked whether the pandemic, which has devastated air travel demand, would force a major U.S. airline out of business, Calhoun told the "TODAY" show in an interview that aired Tuesday, "I don't want to get too predictive on that subject, but yes, most likely." Calhoun did not specify an airline and a Boeing spokesman told CNBC after the "TODAY" interview aired that he wasn't talking about any one carrier. Source: CNBC May 13, 2020: NASA estimates having SpaceX and Boeing build spacecraft for astronauts saved $20 billion to $30 billion Nearly a decade ago, NASA began awarding Boeing and SpaceX with funding to build spacecraft that the agency could use to get its astronauts to the International Space Station. Under the Commercial Crew program, NASA awarded SpaceX about $3.1 billion and Boeing about $4.8 billion over the past decade to develop spacecraft to replace the Space Shuttle. SpaceX developed its Crew Dragon capsule, which is set to launch astronauts for the first time later this month, while Boeing developed its Starliner capsule. Although the program is about three years behind in delivering on the goals it outlined, NASA believes Commercial Crew program has been cost effective. A NASA presentation published on Wednesday outlined just how much the agency expects the Commercial Crew program will save taxpayers. "While not done yet, [Commercial Crew] is poised to save the Agency approximately $20B-$30B, and provide two, independent crew transportation systems," NASA commercial spaceflight director Phil McAlister said in the report. Source: CNBC May 12, 2020: Boeing 737 Max cancellations mount as customers scrap 108 more orders Boeing said Tuesday that customers canceled 108 more orders for 737 Max jetliners in April, further whittling down the company's backlog of planes as it faces the devastating impact of the coronavirus pandemic on air travel and its customers. The additional cancellations coupled with Boeing's move to take some orders off of its firm order tally, pushed the company's backlog down to 4,834 planes. Last month it had unfilled orders of 5,049 planes. Among the customers that canceled orders was General Electric's aircraft leasing arm, known as Gecas. The backlog is the smallest since 2013, but Boeing said in 2018 that it implemented new accounting procedures under which it can take some orders off the tally if a purchaser doesn't meet certain criteria. The pandemic has posed the greatest threat to the air travel demand in recent memory, industry executives have said. While off the lows, U.S. air passenger traffic is down more than 90% from a year ago as shelter-in-place orders, work-from-home setups and concerns about the virus in general keep most potential travelers home. Boeing CEO Dave Calhoun has said it could take three years for air travel demand to recover to 2019 levels and even longer to get back to growth mode. Calhoun told NBC's "TODAY" show in an interview that aired Tuesday that the coronavirus will "likely" put a U.S. carrier out of business, but he didn't to go into specifics. A Boeing spokesman said Calhoun "was speaking in general about the uncertainty in the sector not about any one particular airline." The pandemic is an additional problem for Boeing that was already struggling with the 737 Max crisis. Those planes have been grounded for the last 14 months worldwide after two fatal crashes - one in Indonesia in October 2018 and another in Ethiopia in March 2019 - killed all 346 aboard the two flights. Source: CNBC May 12, 2020: Boeing CEO: Some carriers will not survive the coronavirus crisis Boeing CEO Dave Calhoun told NBC's TODAY show he does not expect air travel to rebound by any substantial measure by September. Source: CNBC May 12, 2020: Boeing CEO predicts a major US airline will 'most likely' go out of business because of coronavirus Boeing CEO Dave Calhoun said he believes a major U.S. airline will go out of business this year because of the ongoing disruption brought on by the coronavirus pandemic. "I don't want to get too predictive on that subject, but yes, most likely," he said in an interview that aired Tuesday on NBC's "TODAY" show. "You know, something will happen when September comes around." Calhoun did not provide specifics and Boeing spokesman Gordon Johndroe said that Calhoun "was speaking in general about the uncertainty in the sector not about any one particular airline." Airlines last month started receiving portions of $25 billion in federal grants and loans that prohibit them from laying off or cutting the pay rates of their employees until Oct. 1. Airline executives have warned they expect to become smaller airlines because of the lack of demand. U.S. airlines recently posted their first quarterly losses in years as passenger demand crumbled because of the coronavirus and measures to stop it like stay-at-home orders. In recent comments, airline executives said the worst might be over but they don't expect a sudden recovery in demand. The Transportation Security Administration said 215,645 passed through U.S. airport security checkpoints on Monday, the highest since March 25, but still down more than 91% from a year ago. Calhoun last month said he expects a recovery in traffic to take three years, comments he reiterated on the "TODAY" show, adding that it likely won't recover to a quarter of normal levels by September. "Traffic levels will not be back to 100%. They won't even be back to 25%," Calhoun said in the interview, referring to September. "Maybe by the end of the year we approach 50%. So there will definitely be adjustments that will be have to be made on the part of the airlines." The coronavirus is an additional challenge for Boeing, already struggling with the 14-month grounding of the 737 Max plane, its bestseller. Weaker airlines mean weak new orders and the potential for cancellations. Source: CNBC May 01, 2020: Boeing Company: Stocks making the biggest moves in the premarket: Twitter, Comcast, McDonald's, Tapestry & more Twitter (TWTR) - Twitter reported quarterly profit of 11 cents per share, a penny a share above estimates. Revenue and the number of monetizable daily active users beating forecasts as well. Twitter is not giving any guidance for the current quarter or the full year due to uncertainty surrounding the current business environment. Comcast (CMCSA) - The NBCUniversal and CNBC parent beat estimates by 3 cents a share, with quarterly profit of 71 cents per share. Revenue came in below Wall Street forecasts. The company added 477,000 high-speed internet customers during the quarter, the most in 12 years, while NBCUniversal and Sky experienced pressure during the quarter from the cancellations of sports events due to the coronavirus outbreak. McDonald's (MCD) - McDonald's fell 10 cents a share short of estimates, with profit of $1.47 per share. Revenue beat forecasts however. McDonald's had strong sales prior to the Covid-19 outbreak, but like many other restaurant chains it suffered a sizeable decline once the pandemic hit. Dunkin' Brands (DNKN) - The restaurant chain beat estimates by 5 cents a share, with quarterly earnings of 67 cents per share. Revenue also topped estimates. Sales fell, however, as the coronavirus outbreak spread, with comparable sales down more than 19% in the final three weeks of the quarter. The company has now suspended its dividend and it withdrew its 2020 outlook. Tapestry (TPR) - The company formerly known as Coach lost 27 cents per share for its latest quarter, wider than the 12 cents a share loss Wall Street was expecting. Revenue was above forecasts. Tapestry withdrew its full-year forecast after the coronavirus pandemic forced it to close stores, and the company has suspended dividends and share repurchases. Kraft Heinz (KHC) - The food maker reported quarterly profit of 58 cents per share, 3 cents a share above estimates. Revenue also topped expectations. Organic sales rose 6.2%, as Kraft Heinz benefited from increased consumer demand related to the Covid-19 pandemic. Cigna (CI) - The insurance company earned $4.69 per share for the first quarter, beating the consensus estimate of $4.35 a share. Revenue was above estimates as well. Cigna said it is meeting the challenges of the coronavirus outbreak and said it remains confident in the strength of its various business units. Microsoft (MSFT) - Microsoft reported quarterly profit of $1.40 per share, 14 cents a share above estimates. Revenue also beat forecasts. Microsoft said the Covid-19 outbreak had minimal impact on revenue and it saw increased business in a number of its cloud-based segments. Facebook (FB) - Facebook fell 4 cents a share shy of estimates, with quarterly earnings of $1.71 per share. The social media giant's revenue exceeded Street projections. Facebook said that ad sales have stabilized in recent weeks, following a significant reduction in demand. Tesla (TSLA) - Tesla posted an unexpected profit for the first quarter, with the automaker's revenue slightly above estimates despite shutdowns at its U.S. and China factories. Deliveries during the quarter came in slightly below estimates. Qualcomm (QCOM) - Qualcomm beat estimates by 10 cents a share, with quarterly profit of 88 cents per share. The chip maker's revenue beat consensus as well. Its current-quarter revenue forecast is in line with Street expectations, as the company signs more contracts for production of 5G phones which use more expensive chips. EBay (EBAY) - EBay reported quarterly earnings of 77 cents per share, 5 cents a share above estimates. The online marketplace operator's revenue topped estimates as well. The company said its marketplace business has been helped by worldwide shelter-in-place orders, and it gave stronger-than-expected guidance for full-year earnings and revenue. ServiceNow (NOW) - ServiceNow earned $1.05 per share for its latest quarter, 10 cents a share above estimates. The enterprise cloud computing company's revenue was also above forecasts, however it anticipates the most significant challenges stemming from the coronavirus outbreak to occur during the second and third quarters. Exxon Mobil (XOM) - Exxon Mobil maintained its quarterly dividend at 87 cents per share, at a time when many energy companies are cutting or eliminating their dividend. Royal Dutch Shell (RDSA) did just that this morning, slashing its dividend by two thirds after reporting a 46% drop in first-quarter profit. It was the company's first dividend cut since World War II. Boeing (BA) - The jet maker's debt rating was cut by rating agency Standard and Poor's to BBB-, one notch above junk status. The move stems from the expected impact of the coronavirus outbreak on Boeing's profits and cash flow over the next several years. Align Technology (ALGN) - Align earned 73 cents per share for its latest quarter, well below the consensus estimate of $1.00 a share. The maker of Invisalign dental braces also saw revenue come in below forecasts. Align was impacted by the shutdown of most dental practices in mid-March, and withdrew 2020 guidance due to pandemic-related uncertainty. Source: CNBC May 01, 2020: Boeing Company: What it takes for airlines to find parking for thousands of grounded planes The coronavirus pandemic has devastated the airline industry. U.S. air travel dropped 95% compared to last year and the number of flights scheduled globally is down by 63%. More than 16,000 of the world's commercial aircraft are grounded. These planes can't just sit idle, they need routine maintenance and a place to be stored. And when you suddenly have thousands of planes with nowhere to go it becomes a logistical nightmare. Watch the video to see how airlines are parking all of these planes. Source: CNBC May 01, 2020: There was 'tremendous demand' for Boeing bond deal: JPMorgan's Jim Casey Jim Casey, JPMorgan's global co-head of investment banking, joins "Squawk on the Street" to discuss stocks, the bond markets, and Boeing's funding deal. Source: CNBC May 01, 2020: Boeing Company: Stocks making the biggest moves in the premarket: Exxon, Chevron, Clorox, Honeywell & more Exxon Mobil (XOM) - Exxon posted a GAAP loss of 14 cents per share, and a non-GAAP profit of 53 cents per share. The consensus estimate was for a breakeven quarter. The company announced a 30% cut in capital spending and will also reduce cash operating expenses by 15%. Clorox (CLX) - The household products maker earned $1.89 per share for its latest quarter, beating the $1.67 a share consensus estimate. Revenue came in above forecasts as well. Clorox saw its biggest sales increase in nearly a decade, helped by a surge in sales of disinfectants. The company also raised its full-year earnings forecast. Chevron (CVX) - The oil giant posted first-quarter profit of $1.93 per share, which included $680 million in one-time favorable items. Revenue beat forecasts. The consensus estimate had been 68 cents a share. Chevron said it is taking steps to preserve its dividend and to manage the current downturn responsibly, including a further cut in capital spending. Source: CNBC Apr 30, 2020: Boeing considers bond offering: Sources CNBC's David Faber details reporting that Boeing is considering a bond offering to help support the business. Source: CNBC Apr 30, 2020: Boeing raises monster $25 billion in bond offering, rules out federal aid Boeing on Thursday said it doesn't plan to seek federal aid after raising a whopping $25 billion in a bond offering, the company's biggest debt sale ever, as it faces what it expects to be a multi-year slump in air travel because of the coronavirus pandemic. "As a result of the response, and pending the closure of this transaction expected Monday, May 4, we do not plan to seek additional funding through the capital markets or the U.S. government options at this time," it said in a statement. Boeing last month sought $60 billion in federal aid for itself and its supply chain, which includes General Electric and Spirit Aerosystems. The $2.2 trillion in federal coronavirus relief Congress approved last month set aside $17 billion in federal loans for companies considered of national security interest, a bill Boeing fits. Boeing's CEO Dave Calhoun has balked at the possibility of providing the government an equity stake in return for federal aid, but this week said all options were on the table. When asked whether the company would apply for government loans Calhoun told CNBC this week that "credit markets loosened up a fair amount" recently after a number of stimulus programs. CFO Greg Smith, in a company post about the bond offering thanked the Trump administration for the recent stimulus measures and called investors' response to Boeing's debt sale "a testament to the confidence the market has in our business, our people, and our future." Source: CNBC Apr 30, 2020: Boeing Reports First-Quarter Results The Boeing Company[NYSE: BA] reported first-quarter revenue of $16.9 billion, GAAP loss per share of ($1.11) and core loss per share (non-GAAP)* of ($1.70), primarily reflecting the impacts of COVID-19 and the 737 MAXgrounding (Table 1). Boeing recorded operating cash flow of ($4.3)billion. Source: SEC Apr 30, 2020: Stocks making the biggest moves midday: Tesla, Facebook, Dunkin' Brands, Boeing, Moderna & more Tesla - Shares jumped 3% after the company posted a profit for the third straight quarter. In the first quarter, the company earned $1.24 per share, ex-items, on $5.99 billion in revenue. Wall Street was expecting an adjusted loss of 36 cents per share and revenue of $5.9 billion for the first quarter, according to a survey of analysts by Refinitiv. Facebook - Facebook shares rose 5.4% in midday trading after the social media giant reported that it's seen sales stabilize in the first three weeks of April after a "significant" pullback in advertising revenues in March thanks to Covid-19. Analysts, including RBC Capital Markets' Mark Mahaney, found the results better than feared and that the top-line figure bodes well for future business. Facebook reported first-quarter per-share earnings of $1.71 and revenues of $17.74 billion. Microsoft - The software stock rose 0.75% Thursday after Microsoft reported fiscal third-quarter sales grew 15% thanks to growth in its cloud business. It also said that the coronavirus "had minimal net impact on the total company revenue" in the three months ended March 31, but cautioned that "effects of COVID-19 may not be fully reflected in the financial results until future periods." Molson Coors - Shares of the beer company fell 11% after Molson Coors missed Wall Street expectations for first quarter revenue. The company reported sales of $2.1 billion for the quarter, below the consensus expectation of $2.23 billion, according to FactSet. The company said in a statement that its quarter was "disproportionately affected" by the coronavirus. Dunkin' Brands - Shares of the fast food chain fell more than 3% after the company suspended its dividend and withdrew its 2020 outlook due to uncertainty around the coronavirus. The company did beat top- and bottom-line estimates, although comparable sales fell more than 19% in the final three weeks of the quarter. Comcast - Shares of the telecom giant fell 4.8% after the company reported a 40% decline in profits for its first quarter. The parent company of NBCUniversal and CNBC said it would lose $500 million if its theme parks remained closed through June because of the coronavirus. Moderna - The biotech stock rose 3.2% on Thursday after BMO Capital Markets initiated the stock at outperform. The bank gave a price target of $83 per share, more than 70% above where the stock closed on Wednesday and cited Moderna's work on a possible vaccine for the coronavirus as a reason for the potential upside. Abiomed - Shares of the medical supply company soared by more than 13% after it announced results for its fiscal fourth quarter and a new acquisition. The company's revenue came in at $206.7 million, just below Wall Street expectations of $207.2 million, according to FactSet. Abiomed acquired Breethe, which makes an oxygenation system, for an undisclosed amount, adding to what Piper Sandler called "a robust product pipeline" for the company. Tapestry - Shares of Tapestry cratered more than 9% following its disappointing quarterly results. The retailer reported a loss of 27 cents per share, while analysts expected a loss of 12 cents per share, according to Refinitiv. Tapestry withdrew its full-year forecast after the coronavirus pandemic forced it to close stores, and the company has suspended dividends and share repurchases. Boeing - Shares of Boeing rose about 2% after CNBC's David Faber reported demand for new Boeing debt was strong across multiple maturities. Sources said the robust demand for Boeing's paper could add up to as much as $75 billion in 5-, 7-, 10-, 20-, 30-, and 40-year bonds. The plane maker was looking to raise up to $20 billion in new debt, and it may increase the amount given the heightened interest. ServiceNow - Shares of ServiceNow jumped more than 8% after the enterprise cloud computing company reported stronger-than-expected quarterly results. ServiceNow earned $1.05 per share for its latest quarter, 10 cents a share above estimates, while its revenue also topped forecast, according to Refinitiv. However, the company warned that the biggest impact from the pandemic will likely occur in the coming two quarters. McDonald's - Shares of the fast food company fell 2% after first quarter earnings came in below expectations. The company reported first quarter earnings of $1.47 per share on revenues of $4.71 billion. Analysts had expected earnings per share of $1.57 on revenues of $4.65 billion, according to Refinitiv. Align Technology - Shares of Align Technology slid 4% after the company missed earnings expectations for its first quarter. The dental products company earned 73 cents per share, while analysts expected $1.00 per share, according to Refinitiv. The company's revenue declined 15% compared with the prior quarter. PulteGroup - The homebuilder stock fell more than 6% after another week of millions of new jobless claims fed concern about the economic impact of the coronavirus pandemic. The stock is still positive since last Thursday, before it reported its latest quarterly results. Source: CNBC Apr 30, 2020: Boeing Company: Stock market live Thursday: Dow drops nearly 300, best month since 1987, historic volatility Stocks fell on the final trading day of April as economic data weighed on investor sentiment. Jobless claims have now topped 30 million over the last six weeks, and data showed a plunge in consumer spending and personal incomes in March. The Dow and S&P 500 still posted their best month since the 1980s. Optimism has been driven by hopes that economies will gradually begin to reopen, as well as by positive results from a Gilead Sciences drug trial for a coronavirus treatment. Here's what happened: 4:25 pm: Historic month by the numbers S&P 500 closed down 0.92% for its second negative day in three S&P 500 closed up 12.68% this month for its best month since Jan 1987 when it gained 13.18% S&P 500 is down 9.85% this year, on pace for its worst year since 2008 when it lost 38.49% From record: S&P 500 is 14.18% below its intraday all-time high of 3,393.52 from Feb. 19 From March 23 52-week low: S&P 500 is 32.87% above its 52-week low of 2,191.86 Dow closed down 1.17% for its second negative day in three Dow closed up 11.08% this month for its best month since Jan 1987 when the Dow gained 13.82% Dow is down 14.69% this year, on pace for its worst year since 2008 when the Dow lost 33.64% From Record: Dow is 17.66% below its intraday all-time high of 29,568.57 from Feb. 12 From March 23 52-week low: Dow is 33.67% above its 52-week low of 18,213.65 -Francolla Source: CNBC Apr 29, 2020: Boeing plans to cut airplane production, 10% of its workforce in aircraft market 'frozen' by coronavirus crisis Boeing on Wednesday posted a $641 million loss in the first quarter and is planning to cut its workforce and aircraft production in a world aviation market "frozen" by the coronavirus pandemic. The coronavirus crisis is a fresh problem for the aircraft-maker, already struggling from the 13-month-long grounding of its best-selling plane, the 737 Max. Source: CNBC Apr 29, 2020: Boeing Company: Facing dearth of passengers, leisure airline ramps up plan to fly packages for Amazon As millions of would-be travelers stay home because of the coronavirus pandemic, one airline has found an eager customer: Amazon. Sun Country Airlines, an Apollo Global Management-owned carrier, struck a deal last December to start flying 10 Boeing 737 freighters for the online retailer. Minneapolis-based Sun Country plans to be flying all 10 of the cargo planes by the end of July, earlier than the previous target for summer's end, CEO Jude Bricker told CNBC on Wednesday. Passenger demand is down 95% at Sun Country from what was expected just a few months ago, echoing similar declines throughout the U.S. air travel industry, so the additional cargo business is welcome. The operation will begin with its first plane on May 7. While Sun Country's plans to fly dedicated planes for Amazon started last year, other airlines are now turning to air cargo as they face a dearth of passengers. American, Delta and United are among the large airlines that have flown pure-cargo flights, delivering everything from perishables to medical supplies. Sun Country, whose low-cost passenger operation focuses on sun-seekers and other travelers visiting friends and relatives around the U.S., had already planned to shuffle pilots to cater to the new Amazon cargo flying this summer. "We got a little bit lucky," Bricker said. "We were the main constraint in the ramping [up]. We were taking pilots off the passenger service and now that's not a concern." Bricker said it was too early to tell whether the company will expand its partnership with Amazon. The online retailer didn't immediately respond to a request for comment. Source: CNBC Apr 29, 2020: Stocks making the biggest moves midday: Alphabet, Boeing, Gilead, AMC Entertainment & more Alphabet - Shares of Google-parent Alphabet rose nearly 9% following the technology giant's quarterly earnings. The report showed advertising revenue slowed but is starting to moderate. Adjusted earnings came in at $9.87 per share, lower than the $10.33 forecast by analysts, according to Refinivitv. Revenue came in at $41.16 billion, topping estimates of $40.29 billion. Gilead Sciences - Gilead Sciences' stock jumped more than 5% after it said two studies showed that one of its therapies could be a viable treatment for Covid-19. Its drug trial showed at least 50% of patients treated with a five-day dosage of antiviral drug remdesivir improved and more than half were discharged from the hospital within two weeks. Boeing - Boeing shares jumped 5.6% after the airplane maker said it would cut payroll by about 10% as it faces a dismal market for aircrafts. Boeing burned through more than $4 billion in cash during the first quarter, the company's latest quarterly report showed. AMC Entertainment - Shares of AMC Entertainment jumped 25% on Wednesday after the company said it would not play movies from Universal Studios when theaters reopen. The CEO of NBCUniversal, which is the parent company of Universal Studios and CNBC, told the Wall Street Journal that the company planned to release new movies in theaters and on demand following the success of Trolls World Tour. Spotify - Shares of Spotify popped 11% after the music streaming service reported a smaller-than-expected loss in the first quarter. Its revenue came in in line with forecasts as it added more users in both the paying and ad-supported categories. However, it lowered its revenue guidance for the year as ad sales fall due to the pandemic. General Electric - Shares of the industrial giant dropped 3.2% on the back of a steep revenue decline and a $1 billion cash flow hit due to the coronavirus pandemic. GE reported revenue of $20.524 billion, which represents a year-over-year decline of 8%. "The second quarter will be the first full quarter with pressure from COVID-19, and GE expects that its financial results will decline sequentially," GE said. Valero Energy - Shares of the refiner jumped more than 14% after the company's first quarter earnings results topped estimates, as well as on the heels of a surge in oil prices. Elsewhere in the energy sector Halliburton rose 11%, while ConocoPhillips, Marathon Petroleum and Schlumberger were all up more than 7%. Starbucks - Shares of the coffee chain fell 2% on Wednesday after the company missed Wall Street earnings estimates for its fiscal second quarter and warned that next quarter's results would be worse. The company said it expects about 90% of its cafes to be open by early June, with modified hours and service. Starbucks also withdrew its full-year forecast. WW - Shares of WW soared 12% after the Weight Watchers parent posted better-than-expected quarterly results. WW lost an adjusted 4 cents per share for the first quarter, smaller than the 23 cent loss predicted by analysts, according to Refinitiv. The company saw revenue top estimates and its subscriber numbers jumped by 9%. Uber Technologies - Shares of Uber rose 4% after the ride-sharing company said its chief technology officer Thuan Pham is resigning effective May 17. Also on Wednesday, Uber is reportedly considering laying off as much as 20% of its workforce, or about 5,400 workers, to reduce costs in the face of the coronavirus pandemic. Source: CNBC Apr 29, 2020: Jim Cramer reacts to AMD, Starbucks, Boeing, GE and Alphabet earnings reports CNBC's Jim Cramer on Wednesday offered his thoughts on corporate earnings reports from some notable American companies that recently released quarterly results. The Dow Jones and S&P 500 both rose more than 2% during the session and the Nasdaq Composite jumped more than 3%, but the "Mad Money" host gave all credit to groundbreaking data from Gilead Sciences about a potential antiviral to fight the coronavirus pandemic for boosting investor sentiment. "That's why the market roared higher today, and make no mistake, this move was all about remdesivir," he said of the drug that is being studied in human trials. "I can say that with confidence because we're right in the middle of earnings season and Wall Street hasn't exactly been thrilled with many of these reports." Below are Cramer's reactions to quarterly reports from Advanced Micro Devices, Starbucks, Boeing, General Electric and Alphabet: Advanced Micro Devices AMD reported profits in line with estimates and revenue beat projections, but the chipmaker offered a softer outlook than what analysts targeted. The stock fell 3.3% during the Wednesday session. "I think that's nonsense. AMD delivered an excellent quarter that was slowed by customers who're dealing with a deadly virus that's shut down vast swathes of the global economy," Cramer said. "It's a testament to the strength of AMD's end markets - laptops, data centers, gaming - that the numbers were so strong even in this tough environment." Starbucks Starbucks saw same-store sales plunge 10% in the quarter due to the coronavirus outbreak and lost traffic from closed cafes in both the U.S. and China. The top- and bottom-line numbers fell short of Wall Street's forecast. Shares fell 2.3% Wednesday. Source: CNBC Apr 28, 2020: Jefferies' Kahyaoglu: Boeing wouldn't have needed a bailout had Covid-19 not happened Boeing CEO David Calhoun is overseeing the company's annual meeting today where he's expected to discuss big changes for the Dow component. Sheila Kahyaoglu, aerospace and defense analyst at Jefferies, joins "Squawk Box" to discuss. Source: CNBC Apr 28, 2020: Boeing Company: Southwest Airlines posts first loss since 2011, sees revenue down as much as 95% in May Southwest Airlines on Tuesday posted its first quarterly loss since 2011 and predicted "no material improvement in air travel trends" this spring as the coronavirus devastates demand. Southwest is scrambling to cut costs and reduce its daily cash burn, which it estimates will average $30 million to $35 million in the second quarter. It announced a public stock offering of 55 million shares, valued at around $1.6 billion based on Monday's closing price and said it would issue $1 billion in additional debt in an effort to shore up its finances amid a dismal demand outlook. The airline said it expects its operating revenue next month to fall as much as 95% from a year earlier but warned it is "unable to reasonably estimate trends beyond May 2020." Southwest follows Delta and United in posting a loss for the quarter. Travel is among the hardest-hit industries from the coronavirus and severe measures to stop it from spreading like shelter-in-place orders. Airlines including Southwest recently won a portion of $25 billion in government grants and loans that prohibit them from laying off or cutting the pay rates of workers through Sept. 30, though worker paychecks are lower because of reduced schedules. CEO Gary Kelly told CNBC that if demand doesn't come back by that time the airline will have no choice but to downsize. However, demand likely bottomed out in the first week of April and there have been modest improvements during the month, he said later on the company's earnings call. "I would hope that, that would continue," he said. "We've got a pretty modest expectations." First-quarter results reflect the start of coronavirus and of stay-at-home orders in the United States, where most of Southwest's network is located. Travel demand was still relatively strong early in the year, but losses are expected to deepen in the spring. The timing of the coronavirus crisis couldn't be worse for the sector. The disease and accompanying economic downturn is sapping travel demand during the peak spring and summer travel season, usually airlines' most lucrative time of year. Kelly said travelers will return to the skies when they feel safe, a sentiment shared by other airline CEOs. Airlines are starting to offer travelers face masks to avoid the spread of the coronavirus, while JetBlue on Wednesday said it would mandate them for passengers. Some airlines are blocking middle seats, but Kelly said the airline is leaning more toward underselling the flight in case travelers want to sit with their party, one of them in the middle seat. "I don't accept that forever more, people are going to stay 6 feet apart from each other, and we're masked for the rest of our lives," said Kelly. "I just don't believe that. I think we'll get past this pandemic and with a little luck, we won't have one for another century." Source: CNBC Apr 28, 2020: Dow Jones: Boeing faces civil, criminal probe of 737 Max issues CNBC's Phil LeBeau details new reporting from the Wall Street Journal that Boeing will face probes into its handling of the 737 Max situation. Source: CNBC Apr 27, 2020: Boeing CEO says air travel recovery could take two to three years; board wins approval Boeing CEO Dave Calhoun told shareholders Monday that air travel demand will take two or three years to recover to last year's levels, another problem for the manufacturer that was reeling from the 737 Max grounding before the coronavirus pandemic. Shareholders approved the company's board. Boeing is scrambling to cut costs amid a weak market for new jetliners. That evaporating demand as air travel is largely on hold around the world, is a problem for both Boeing and its main rival, Europe's Airbus, which has cut production rates by a third. Air travel demand in the U.S. is about 5% of what it was a year ago and airlines have parked more than a third of the country's fleet, while some carriers are planning to defer orders of new planes. "We are in an unpredictable and fast-changing environment, and it is difficult to estimate when the situation will stabilize," Calhoun said in a webcast of the company's annual shareholders meeting. "When it does, the commercial market will be smaller, and our customers' needs will be different." Cancellations are already piling up for Boeing as airlines scrap orders for dozens of 737 Max planes, the jetliner that has been grounded since March 2019 after two fatal crashes killed all 346 people aboard the flights. Boeing is offering employees buyouts and other voluntary leaves but other measures haven't been ruled out as the company tries to reduce payroll costs. It has also suspended its dividend and CEO Calhoun told shareholders on Monday that it would likely be years before it returns. On Saturday, Boeing said it is walking away from a proposed $4.2 billion deal with Embraer that would have given Boeing control of the Brazilian aircraft manufacturer's commercial airplane unit. Embraer said Boeing "wrongfully terminated" their agreement and on Monday said it has started arbitration proceedings over the scuttled deal. "It is deeply disappointing, but we had reached a point where continued negotiation was no longer helpful, and so we exercised the rights set out in the [deal agreement] to terminate the agreement," Calhoun told shareholders on Monday. The manufacturer is expected to lower already-reduced production of wide-body jets like the 787 Dreamliner. Demand for international travel will return at a slower pace than domestic, Calhoun predicted. That means airlines' and leasing firms' appetites will return faster for narrow-body planes, like the Max and Airbus A320 families, that are used for shorter routes. Boeing is scheduled to report first-quarter results before the market opens on Wednesday, when executives are expected to outline the company's production plan, cash-raising activity and whether it expects to apply for and receive government support to weather the coronavirus slump. Source: CNBC Apr 27, 2020: Stocks making the biggest moves premarket: AutoNation, Caterpillar, Boeing, Beyond Meat & more AutoNation - AutoNation will return $77 million it received in forgivable loans from the Paycheck Protection Program. The car retailer said it had intended to use the funds entirely for payroll, but decided to return the money after the Small Business Administration issued new guidelines for the program. Boeing - Boeing has pulled out of its deal to pay $4.2 billion for an 80% stake in the commercial jet business of Brazil's Embraer. Boeing said the two sides had failed to agree on final terms by a deadline, but Embraer accused Boeing of wrongfully terminating the deal. Deutsche Bank - Deutsche Bank reported a preliminary first quarter profit, surprising analysts who had been predicting a loss for the German bank. Deutsche Bank did say it might miss its capital requirement targets, due to extending more credit in light of the coronavirus outbreak as well as a jump in loan defaults. Diamond Offshore - Diamond Offshore filed for Chapter 11 bankruptcy protection, after saying demand for its drilling services had "dropped precipitously" amid the significant drop in oil demand. Diamond Offshore is 53% owned by Loews. Regeneron Pharmaceuticals, Sanofi - The drug makers shut down part of their study of the arthritis drug Kevzara as a Covid-19 treatment. The companies say the drug did not benefit hospitalized Covid-19 patients who were not on ventilators. The study, however, will continue for patients who do require a ventilator or other oxygen support. Caterpillar - The heavy equipment maker's stock was downgraded to "underweight" from "equal-weight" at Morgan Stanley, which sees a risk from a possible multi-year downturn in non-residential construction, among other factors. Check Point Software - The cybersecurity company reported adjusted quarterly earnings of $1.42 per share, 4 cents above estimates, with revenue also beating Wall Street forecasts. The company's results were boosted by increased demand for network security as more people work from home during the coronavirus outbreak. Tesla - Tesla has asked dozens of workers to return to work at its Fremont, California, plant on Wednesday, according to internal memos seen by CNBC. That comes even though health orders related to the Covid-19 outbreak have not yet been changed or relaxed. Revlon - Revlon has lined up an additional $100 million in financing to help it navigate financial difficulties prompted by the coronavirus outbreak. However, Reuters reports that Revlon's overall restructuring plan is running into objections from some of the cosmetics maker's lenders, with Revlon needing votes from holders of more than half of its outstanding debt to move forward. Hertz Global - Hertz was downgraded to "underweight" from "equal weight" at Barclays, cutting the price target to $2 per share from $10. Barclays is concerned about a capital call by investors in the car rental company. Wayfair - Wayfair was downgraded to "hold" from "buy" at Stifel Nicolaus, citing valuation for the online home goods seller's shares. Wayfair shares dipped as low as $21.70 on March 19, before surging and closing Friday at $122.41 per share. Armstrong World Industries - The designer of commercial and residential wall and ceiling solutions missed estimates by 1 cent with adjusted quarterly earnings of $1.10 per share, with revenue slightly below forecasts as well. Armstrong is withdrawing 2020 financial guidance as the coronavirus pandemic slows demand, and said it is reducing spending, suspending hiring, and suspending its share repurchase program. Source: CNBC Apr 27, 2020: Boeing workers to return to Dreamliner factory in South Carolina next month after closure amid coronavirus Boeing said Monday that it plans to reopen its Dreamliner factory in South Carolina in early May after it shut down operations there for nearly a month because of the Covid-19 pandemic. Workers started returning last week to the company's Seattle-area plants, home to the majority of Boeing's airplane production, taking new precautions such as increased physical distance between employees, after it announced the temporary shut down last month. Boeing said it has increased cleaning throughout the North Charleston, South Carolina, facility, added hand sanitizing stations and will encourage workers to bring and wear cloth masks or other face coverings. "Some teammates will be required to wear procedural masks, which will be provided, in certain areas when working in close proximity," the company said. Source: CNBC Apr 26, 2020: Boeing's big week includes first-quarter results and government aid deadline A slew of upcoming Boeing announcements aim to calm investor nerves and set the stage for future growth - much like when Dave Calhoun was named as the aerospace giant's next CEO. In the next week, Boeing will hold its annual meeting, report first-quarter results and face the application deadline for a multi-billion dollar aid package from the federal government. Those familiar with the discussions of Boeing's leadership said Calhoun is planning to show investors the company will build two financial bridges to the future: A near-term one focused on cutting near-term losses brought on by the coronavirus and a longer-term bridge to deal with fewer orders for commercial airplanes and a smaller airline industry. The question for investors is how much it will cost Boeing to build those bridges and where will the money come from. The growing uncertainty over possible losses in the first quarter and beyond is a principal reason shares of Boeing are down more than 50% since Calhoun became CEO in January. Calhoun has made it clear he and his leadership team are preparing the company for a future that will look far different than two years ago, when commercial airplanes orders were soaring and production rates climbed to record highs. In a message sent to Boeing employees in early April, Calhoun wrote, "We will need to balance the supply and demand accordingly as the industry goes through the recovery process for years to come." That means production cuts in the commercial airplane division. Boeing executives tell CNBC the company is expected to outline new targets for wide-body plane production, including a new, lower monthly build rate for the 787 Dreamliner. Source: CNBC Apr 25, 2020: Brazil's Embraer says Boeing 'wrongfully terminated' deal for $4 billion tie-up Brazilian aircraft manufacturer Embraer said Saturday that Boeing "wrongfully terminated" a deal for a $4.2 billion tie-up, an ugly turn that comes as both companies face a dismal market for commercial jets amid the coronavirus pandemic. Boeing earlier on Saturday said it ended talks that would have given the Chicago-based aerospace giant an 80% stake in Embraer's commercial jet unit. Boeing said Embraer did not satisfy conditions under the agreement, which expired late Friday, but Boeing declined to go into specifics. "It is deeply disappointing. But we have reached a point where continued negotiation within the framework of the [merger transaction agreement] is not going to resolve the outstanding issues," said Marc Allen, president of the Embraer Partnership and Group Operations, in a Boeing news release earlier Saturday. But Embraer said the deal was "wrongfully terminated" and vowed to "pursue all remedies against Boeing for the damages incurred." Boeing is required to pay $100 million if antitrust approvals for the deal aren't secured, according to a company filing, but a Boeing spokeswoman said the company doesn't believe that the termination fee applies in this case. Boeing "manufactured false claims as a pretext to seek to avoid its commitments to close the transaction and pay Embraer the US$4.2 billion purchase price," Embraer said. "We believe Boeing has engaged in a systematic pattern of delay and repeated violations of the MTA, because of its unwillingness to complete the transaction in light of its own financial condition and 737 MAX and other business and reputational problems." The deal, which would have given Boeing control over Embraer's commercial jet arm, was meant to help Boeing grow even stronger in commercial aerospace to better compete with European rival Airbus. Airbus, for its part, has already taken a stake in what's now called the A220 passenger-plane program of Canada's Bombardier. The collapse of the Boeing-Embraer deal comes as the aerospace industry is in crisis because of the coronavirus. Thousands of jets around the world are grounded as air travel demand has dried up in the pandemic and shelter-in-place orders that aim to stop it from spreading. The crisis has put airlines on shaky financial footing that's destroying demand for new jets and accelerating retirements of older planes "When nobody is flying and jets are on the ground it's hard to hard ascribe winners and losers" in the collapse of the deal, said Richard Aboulafia, vice president of analysis at Teal Group. Boeing announced the terms of the deal in July 2018, which would have given it control of Embraer's commercial aerospace arm, which makes passenger planes that are smaller than Boeing's jetliners. That could have opened up a new market for Boeing. It also could have gained access to Embraer's engineers to help it design and test a new mid-size passenger plane, Aboulafia said, a plan that has been upended by the 737 Max crisis and now the pandemic. Embraer, without Boeing, will compete against Airbus, which has a lower cost structure, for some segments of the smaller passenger-jet market, Aboulafia added. Much has changed for Boeing since the talks were first disclosed in late 2017. Two of its 737 Max planes, its best-seller, crashed, one in Indonesia in October 2018 and another in Ethiopia in 2019, killing all 346 people on the two flights. Those jets have been grounded since March 2019 and cancellations are piling up, promising a painful year for Boeing. Boeing is expected to provide more detail about the deal and further plans to cut costs when it reports first-quarter results before the market opens on Wednesday. Source: CNBC Apr 25, 2020: Stock market live Friday: Dow gains 260, posts down week, Boeing falls 6% U.S. equities made up some of their steep losses since Monday on the week's final day of trading, but still notched week-to-date losses by the closing bell. Oil continued to rebound following its historic plunge earlier in the week, which supported stocks on Friday. Investors digested more company earnings, which showed the economic ramifications of the coronavirus shutdown. Here's what happened: 4:30 pm: Friday's trading session by the numbers Nasdaq closed up 1.65% for its 2nd positive day in 3 This week: Nasdaq closed down -0.18% for the week, its first negative week in 3 This year: Nasdaq is down -3.77% year to date, on pace for its worst year since 2008 when the Nasdaq lost -40.54% S&P 500 closed up 1.39% for its 2nd positive day in 3. S&P closed above its 50-day moving average level of 2,807.66 for the first time in a week, back to April 17 This week: S&P closed down -1.32% for the week, its first negative week in 3 This year: S&P is down -12.20% year to date, on pace for its worst year since 2008 when the S&P lost -38.49% From record: S&P is 16.41% below its intraday all-time high of 3,393.52 from Feb. 19 Dow closed up 1.11% for its 3rd straight positive day This week: Dow closed down -1.93% for the week, its first negative week in 3 This year: Dow is down -16.69% year to date, on pace for its worst year since 2008 when the Dow lost -33.64% From record: Dow is 19.59% below its intraday all-time high of 29,568.57 from Feb. 12 10 out of 11 sectors were negative for the week, led by Real Estate down -4.35% The only positive sector for the week was Energy up 1.67% Oil: The June contract for the WTI settled up 2.67% at 16.94 for its 3rd straight positive day This week: WTI closed down -7.28% for its 3rd straight negative week and its 8th negative week in 9 The June contract for Brent crude settled up 0.52% at 21.44 for its 3rd straight positive day - Francolla Source: CNBC Apr 25, 2020: Boeing Company: Stocks face headwinds as investors look forward to a big earnings week, a Fed meeting and state reopenings The stock market is struggling to make headway, as a big week of events rolls around, including a Federal Reserve meeting, the first look at post-shutdown economic growth and earnings from more than a fifth of the S&P 500 companies. It's a busy week for earnings, and some of the biggest blue chips are likely to join the growing list of companies withdrawing guidance amid the uncertainty of how the coronavirus and shutdowns are impacting their business. Apple, Microsoft, Amazon, Facebook, Boeing and McDonald's are among about 140 S&P 500 companies reporting first quarter results. Investors will also be watching the progress of the reopening of business activity in some states, like Georgia, Texas, Oklahoma and South Carolina. At the same time, President Donald Trump said he may extend social distancing guidelines into early summer. Many states, including the hardest hit, remain completely shut down. Stocks were higher Friday, but the major indices had their first negative week in three as oil prices cratered and then steadied in the mid-teens. The S&P 500 has been trading on both sides of the key 2,800 level, as investors focused on murky corporate outlooks and uncertainty surrounding the timing of the reopening of the economy. Even though several states are resuming some activities, Trump said he disagreed with Georgia's plan to reopen. On Friday, the S&P closed at 2,836, down 1.3% for the week. Earnings for the first quarter have been bleak so far, down about 14% based on estimates and actual reports, according to Refinitiv. Second quarter results are expected to be far worse, declining 32.2%. "If you take a look where the real battle is in the market, it's a fundamental story," said Jonathan Golub, chief U.S. equity strategist at Credit Suisse. "The fundamentals are that the market should be lower, and on the other hand, the Fed is kind of putting their thumb on the scale in favor of the market." Golub said it's the potential for recurrences of the outbreak that's being watched to see if businesses can remain open once they start back up. "People are watching what's going on in places like Georgia, but they're also watching what's going on in Singapore and places in Asia that are opening up," he said. "At the end of the day, there's really one thing that really matters. It's not the Fed. The virus is going to own the agenda, whether we want it to or not." Source: CNBC Apr 24, 2020: Boeing Company: Stocks making the biggest moves in the premarket: American Express, Verizon, Intel, Tesla & more American Express (AXP) - American Express reported quarterly profit of $1.98 per share, an adjustment that excludes an increase in credit reserves, with GAAP earnings at 41 cents per share. The consensus estimate was $1.43 per share. The financial services company increased its credit provisions to $2.6 billion from $809 million a year earlier, and said a spending decline by customers began in late February and accelerated in March. Verizon (VZ) - Verizon beat consensus estimates by 3 cents a share, with quarterly earnings of $1.26 per share. Revenue was below Wall Street forecasts, however, and the company cut its full-year outlook. Verizon said it had a strong start to 2020 prior to the pandemic, and that it expects to emerge from the crisis stronger. Intel (INTC) - Intel reported quarterly profit of $1.45 per share, beating the consensus estimate of $1.28, with the chip maker's revenue also beating Wall Street forecasts. The company's current-quarter forecast was below estimates, however, and it said it would not update its full-year outlook due to uncertainties surrounding the coronavirus outbreak. E-Trade Financial (ETFC) - E-Trade missed estimates by 19 cents a share, with earnings of 72 cents per share. Revenue also missed forecasts. The online brokerage firm - which is in the process of being bought by Morgan Stanley (MS) - was hurt by factors related to the pandemic, as well as merger-related expenses and its provision for credit losses. Continental Resources (CLR) - The energy producer has halted most of its oil production in North Dakota and notified customers it would not supply crude oil at current prices, according to a Reuters report. Pearson (PSO) - Pearson reported a 5% drop in first-quarter revenue, as the education products company is hit by school closures around the globe. The company has seen a significant increase in the user of its digital products, however. Sanofi (SNY) - Sanofi beat estimates on both the top and bottom lines for the first quarter, as the drugmaker benefited from stockpiling of its drugs that treat pain and fever. Results also got a boost from strong sales of eczema treatment Dupixent. Tesla (TSLA) - The automaker raised prices for two variants of its China-made Model 3 sedans, after China officials cut electric vehicle subsidies. L Brands (LB) - L Brands filed a complaint against private-equity firm Sycamore Partners, for trying to pull out of a deal to buy the company's Victoria's Secret unit. Sycamore wanted a lower price due to the impact of the Covid-19 pandemic, but failed a lawsuit after L Brands declined to renegotiate. Boeing (BA) - Boeing is planning to cut 787 Dreamliner production in half and announce job cuts when it reports first-quarter earnings, according to a Bloomberg report. Boeing is due to report first-quarter results on April 29. Hertz (HTZ) - Hertz is working with debt restructuring advisers on options to boost its finances, according to a Reuters report, as the coronavirus outbreak slashes demand for rental cars. DraftKings (DKNG) - DraftKings makes its Nasdaq debut today, after the sports betting company completed a $3.3 billion reverse merger with blank check company Diamond Eagle Acquisition. J.C. Penney (JCP) - J.C. Penney is in advanced bankruptcy talks with lenders, according to The Wall Street Journal. The talks are said to focus on loans that would allow the retailer to continue operating during a court-supervised bankruptcy filing. United Airlines (UAL) - United will require all flight attendants to wear a face-covering or mask while on duty, beginning today. The flight attendants union welcomed the move, but is asking that passengers be required to do the same. Alphabet (GOOGL) - Alphabet's Google unit is cutting marketing budgets by as much as 50% for the second half of the year, according to internal materials viewed by CNBC. Edwards Lifesciences (EW) - Edwards Lifesciences earned $1.51 per share for its latest quarter, beating estimates by 18 cents a share. The medical products maker's revenue also topped Wall Street forecasts. The company lowered its forecast for the year, however, saying the Covid-19 pandemic will have its biggest negative impact in the current quarter, followed by a gradual recovery. Source: CNBC Apr 24, 2020: Boeing pushes back target date for fixing 737 Max as coronavirus hinders progress Boeing is once again pushing back the time frame for when it expects to have the 737 Max recertified for flight as the coronavirus pandemic hinders progress. Sources familiar with the latest expectations for fixing the Max tell CNBC that the plane is unlikely to be given the green light until late summer. That is a slight, but notable, shift from Boeing's earlier plan to have the beleaguered plane cleared by the Federal Aviation Administration in the middle of this year. Source: CNBC Apr 23, 2020: Here's a recap of Dave Calhoun's first 100 days as Boeing's CEO When Dave Calhoun took over as Boeing CEO 100 days ago, getting the 737 Max back in the air was the company's biggest challenge, but then came coronavirus. CNBC's Phil LeBeau reports on the executive's decisions at the company so far. Source: CNBC Apr 21, 2020: Boeing Company; Op-ed: Investors will reward companies that take care of others in the coronavirus pandemic Here's a test: What do workplace safety, labor relations, executive compensation, and community development have in common? They are all measures used in ESG rating systems that guide socially responsible investing with a focus on environmental, social and governance criteria. While the COVID-19 pandemic and efforts to control it decimate much of the U.S. and world economies, the varied acts of charity, compassion, and creative generosity may resonate with investors increasingly drawn to socially responsible investing now and for years after this crisis passes. U.S. corporations are raising the bar for "good citizenship" as manufacturers deploy excess capacity for ventilators, masks, and face shields, tech giants offer software for healthcare monitoring and data analysis and CEO's cut their salaries. We learned that Proctor & Gamble has shifted production at Gillette intended for razors, rendered less essential by remote working, to face shields that are being donated to local hospitals. LVMH has traded the assembly lines of expensive perfume for hand sanitizer that it donates to the French government. Jack Dorsey, CEO of Twitter and Square gave $1 billion to the effort, Ford and GM are making ventilators, Hewlett Packard is making 3D hand-free door openers, and hundreds of other tech, industrial, consumer and industrial firms are innovatively contributing to the COVID-19 battle. These efforts should not be overlooked by the many organizations that measure ESG criteria which are used by mutual, index, and exchange-traded funds, as well as institutional and individual investors. The most recent data suggest that over $30 trillion, or more than one third, of global equity assets use some form of ESG screening in their investing practices. This growth has continued despite a lack of standardization in metrics, with wide variations in both the weights assigned to different criteria and the scoring for the same companies. MSCI, one of the largest rating players in the ESG field, uses a system that applies a complex matrix across hundreds of sub-industry groups, based on how each company manages specific weighted risks and opportunities within sleeves of the broad environmental, social, and governance pillars. In considering how a firm's response to the COVID-19 crisis might affect its ESG score, the agencies will hopefully assess the key factors of "labor management" and "health and safety" under the social category, as well as, "business ethics" and "financial system instability" under governance. ESG rankings take into account both negative or harmful actions as well as proactive solutions and positive actions to move scores up and down. For example, Hilton, upon suddenly finding itself with no customers for its rooms, helped place furloughed workers at employers such as Amazon who are hiring during this period. The hotel company should receive positive recognition for its labor practices within the ESG rating system. Retail chains that are labelled "essential" can be graded on choices to keep their workplaces safe. How carefully corporations manage health risks, one of the factors in ESG metrics, is a current focus of attention that will remain in the spotlight post-pandemic. Under the governance umbrella, both business ethics and financial system instability can falter or rise during a crisis. Grocery chain Kroger sent all store employees a bonus check of $300 for full time and $150 for part time and gave them a fourteen-day additional sick leave with pay should they contract COVID-19. While not a huge amount of money nor many more added sick days, it was symbolic as a gesture of good will. Additionally, Rob Katz, the CEO of Vail Resorts, donated $2.5 million to support employees and communities around the company's ski resorts. Financial fragility threatens a firm's ability to withstand a crisis and renders it difficult to maintain sometimes costly programs considered desirable to socially responsible investing. These include day care facilities on premises, energy and environmental sustainability, and solid health care benefits. Corporate responses to the coronavirus pandemic will trigger revisions to ESG ratings which will be meaningful to managements and shareholders, given the impact on trading of assets using ESG among its investment criterion. Sustainalytics, another ESG rating agency, believes that they may soon include more metrics about "preparedness" for unforeseen disruptions. They urge companies to fully describe their crisis management policies and for shareholders to study resilience of their holdings as a regular component of the investing process. Cynicism aside, I have no doubt that P&G's decision to pivot underutilized capacity at a razor blade plant toward face shields arose from an awareness of its potential contribution and desire to give during a crisis. However, in a world increasingly looking at how businesses treat and value their communities, environment, and employees, these good deeds, rather than being overlooked or even backfiring, are likely to be rewarded, at the very least, through a higher ESG score. Source: CNBC Apr 21, 2020: Boeing Company; These stocks young investors are buying are 'very good for speculation,' Jim Cramer says CNBC's Jim Cramer on Tuesday gave his thoughts on the most sought-after stocks by younger investors on the popular stock trading app Robinhood. The investing platform's co-CEO Vlad Tenev in a "Mad Money" interview the day prior revealed the top stocks that investors bought through the start-up brokerage app in March. The show host gave his stamp of approval on the stock picks, calling them "pretty intriguing stocks." It's a "fantastic list," Cramer said. "Not perfect, but very good for speculation." Robinhood, while used by investors across generations, is used in large part by millennials to trade stocks and cryptocurrency. The company managed to sign up 10 million active users within five years of being open to the general public. Below are Cramer's comments on young investors' top 10 stock picks on Robinhood for March: Inovio Pharmaceuticals: "I always tell you to own at least one speculative stock, and the younger you are, the more speculative you can be." Ford: "I have to believe this is all about bargain hunters taking advantage of a stock that's down close to 50% for the year, and they like these $5 stocks. I think that's a mistake," Cramer said, adding, "the stock might be worthless if the company runs out of money." Aurora Cannabis: "I don't like penny stocks. They're penny stocks for a reason," he said. "If you want to bet on a Democratic sweep in November followed by marijuana legalization, [I'd buy] Canopy." Disney: "I think this one's brilliant," Cramer said. A good buy if you've got a long time horizon, and Robinhood's younger clientele [has] decades." Microsoft: Cramer called it "the best performing large-cap tech." American Airlines: "This is another one where I get the temptation. The stock's down close to 70% from its highs. It's a big bounce-back candidate if the government bails out the industry - and we always bail out the air industry." Boeing: "You have to believe it will be saved by Uncle Sam," Cramer said. "I think it's a 50 down, 100 up situation. Perfect risk-reward for a younger investor." Carnival: "I wouldn't own Carnival if you're my age, no, but if you're 30 it might be worth it for speculation." General Electric: "GE has a fabulous CEO, Larry Culp, and I think it's a better play on the eventual rebound in air travel than Boeing." Tesla: "I'm surprised it's No. 10 and not No. 2 or 3. If you're a younger investor, it makes a ton of sense to bet on the only car company that's so popular it doesn't need to advertise." Source: CNBC Apr 20, 2020: Boeing Company; Spain's daily death rate from coronavirus rises slightly; Singapore extends 'circuit breaker' measures until June 1 The coverage on this live blog has ended - but for up-to-the-minute coverage on the coronavirus, visit the live blog from CNBC's U.S. team. Global cases: More than 2.4 million Global deaths: More than 170,399 Most cases reported: United States (787,901), Spain (200,210), Italy (181,228), France (156,493), and Germany (147,065). The data above was compiled by Johns Hopkins University as of 2:38 p.m. Beijing time. All times below are in Beijing time. Source: CNBC Apr 06, 2020: Boeing to Temporarily Suspend 787 Operations in South Carolina NORTH CHARLESTON, S.C., April 6, 2020-Boeing [NYSE: BA] will temporarily suspend all 787 operations at Boeing South Carolina (BSC) until further notice, starting at the end of second shift on Wednesday, April 8. This impacts the Airport Campus, Emergent Operations, Interiors Responsibility Center South Carolina and Propulsion South Carolina. "It is our commitment to focus on the health and safety of our teammates while assessing the spread of the virus across the state, its impact on the reliability of our global supply chain and that ripple effect on the 787 program," said Brad Zaback, vice president and general manager of the 787 Program and BSC site leader. "We are working in alignment with state and local government officials and public health officials to take actions that best protect our people." BSC teammates who can work remotely will continue to do so. Those who cannot work remotely will receive paid leave for 10 working days of the suspension, which is double the company policy. After 10 days, teammates will have the option to use a combination of available paid time off benefits or file for emergency state unemployment benefits. All benefits will continue as normal during the suspension of operations, regardless of how teammates choose to record their time. Pay practice details have been made available to all teammates. Source: SEC Mar 31, 2020: Quarterly Activities Report: Boeing Company Cash Balance increases 57.1% The Cash Burn of operating activities was USD4,302,000,000 in the quarter ended March 31, 2020. This corresponds to an average Cash Burn Rate of USD1,434,000,000 per month. To support this Cash Burn Rate, the cash balance of USD15,039,000,000 as at March 31, 2020 should be adequate till February 09, 2021.
Changes in Board (TTM) 2022 Jun 21, 2022: Boeing Elects David L. Gitlin to Board of Directors ARLINGTON, Va., June 21, 2022 /PRNewswire/ -- The Boeing Company [NYSE: BA] Board of Directors today announced that it has elected David L. Gitlin as its newest member. Gitlin will join the Aerospace Safety Committee and the Finance Committee. Gitlin, 53, currently serves as chairman and chief executive officer of Carrier and brings to the Board more than 20 years of aerospace industry experience. He previously served in several executive leadership roles, including as president and chief operating officer of Collins Aerospace Systems, and as president of UTC Aerospace Systems. "Dave is a proven leader with deep aerospace, manufacturing and supply chain expertise," said Boeing Chairman Larry Kellner. "With his consistent focus on safety and track record of operational expertise, Dave will add critical experience and perspective to our Board." Boeing President and CEO Dave Calhoun said, "Dave is an excellent addition to our Board as we continue to rebuild trust, strengthen safety and quality and drive stability throughout our operations. We will benefit greatly from Dave's significant experience leading complex enterprises focused on engineering, manufacturing, safety and quality." Source: Company Website May 06, 2022: Events Calendar: Boeing Executive Vice President and CFO West to Speak at Goldman Sachs Industrials and Materials Conference May 11 CHICAGO, May 6, 2022 /PRNewswire/ -- Boeing [NYSE: BA] Executive Vice President and Chief Financial Officer Brian West will speak at the Goldman Sachs Industrials and Materials Conference on May 11th at 9:40 a.m. ET. Visit https://kvgo.com/gs/boeing-may-2022 to access a link to the live broadcast of the conference. Individuals should check the website prior to the session to ensure access to the audio stream. Source: Company Website Apr 15, 2022: Boeing Announces Senior Leadership Updates CHICAGO, March 28, 2022 /PRNewswire/ -- Boeing [NYSE: BA] today announced Ted Colbert as president and chief executive officer of its Defense, Space and Security business. Colbert succeeds Leanne Caret who is retiring following nearly 35 years of exceptional service with The Boeing Company. Stephanie Pope has been appointed as president and CEO of Boeing Global Services (BGS), succeeding Colbert."We are grateful for Leanne's dedicated service and I'd like to thank her for her outstanding contributions to our industry, our customers, our company and our employees over her extraordinary career at Boeing," said Dave Calhoun, Boeing President and CEO.As president and CEO of Boeing Defense, Space and Security (BDS), Colbert will oversee all aspects of the company's business unit that provides technology, products and solutions for defense, government, space, intelligence, and security customers worldwide. BDS had 2021 revenue of $26 billion."Throughout his career, Ted Colbert has consistently brought technical excellence and strong and innovative leadership to every position he has held," said Calhoun. "Under his leadership, BGS has assembled an excellent leadership team focused on delivering safe and high-quality services for our defense and commercial customers. His leadership track record and current experience supporting the defense services portfolio ideally position Ted to lead BDS."Source: Company Website Apr 06, 2022: Boeing to Release First-Quarter Results on April 27 CHICAGO, April 6, 2022 /PRNewswire/ -- The Boeing Company [NYSE: BA] will release its financial results for the first quarter of 2022 on Wednesday, April 27. President and Chief Executive Officer David Calhoun and Executive Vice President and Chief Financial Officer Brian West will discuss the results and company outlook during a conference call that day at 10:30 a.m. ET. The event will be webcast at: http://event.choruscall.com/mediaframe/webcast.html?webcastid=HR9RFWnF The event can also be accessed by dialing 1-877-336-4436 within the U.S. and by dialing 234-720-6984 outside of the U.S. The passcode for both is 3750106. Individuals should check the webcast site prior to the session to ensure their computers can access the audio stream and slide presentation. Instructions for obtaining the required free downloadable software will be posted on the site. Source: Company Website Funding/Capital 2020 Apr 30, 2020: Demand for Boeing bonds is strong, sources say Sources told CNBC's David Faber that demand for new Boeing debt was strong across multiple maturities. Boeing shares jumped 3% to highs of the day amid the report. The strong demand for Boeing's paper could add up to as much as $75 billion in 5-, 7-, 10-, 20-, 30-, and 40-year bonds for the plane maker, people familiar with the matter said. Boeing is interested in raising up to $20 billion in new debt, but given the increased demand, the company may be looking for more now, sources said. The pricing being floated around is at the benchmark Treasury yield plus 500 basis points, and Boeing has access for durations across the board, sources said. The Chicago-based company is struggling with the falling demand due to the coronavirus pandemic, compounding a year-old crisis over the grounding of the 737 Max after deadly crashes. Boeing on Wednesday posted a $641 million loss in the first quarter and is planning to cut its workforce and aircraft production in a world aviation market "frozen" by the pandemic. The company has recently drawn down on a nearly $14 billion loan and sought $60 billion in government aid for itself and its supply chain, which includes General Electric and Spirit Aerosystems. Boeing also scrapped a $4.2 billion deal to take over the commercial aircraft unit of Embraer. Shares of Boeing have tumbled more than 50% in 2020. Source: CNBC People In BusinessPIB-Dirobs 2020 Jul 07, 2020: Boeing director Lynn Good awarded Phantom Stock Units Tuesday July 07, 2020 Boeing (NYSE:BA) Director Lynn Good, has been awarded Phantom Stock Units on 486 shares. The transaction date was July 01. The shares last traded at USD178.94. Oct 05, 2020: Boeing director Edmund P. Giambastiani awarded Phantom Stock Units Monday October 05, 2020 Boeing (NYSE:BA) Director Edmund P. Giambastiani, has been awarded Phantom Stock Units on 296 shares. The exercise date is between April 20, 2024 and January 20, 2029. The transaction date was October 01. The shares last traded at $171.20. 2022 Jan 05, 2022: Boeing director Lynne M. Doughtie awarded Phantom Stock Units Wednesday January 05, 2022 Boeing (NYSE:BA) Independent Director Lynne M. Doughtie, has been awarded Phantom Stock Units on 242 shares. The transaction date was January 03. The shares last traded at $213.07, hitting a two-month high on the day. Oct 05, 2022: Boeing director Ronald A. Williams awarded Phantom Stock Units Wednesday October 05, 2022 Boeing (NYSE:BA) Director Ronald A. Williams, has been awarded Phantom Stock Units on 715 shares. The transaction date was October 03. The shares last traded at $132.11. 2023 Jan 05, 2023: Boeing director Lynn Good awarded Phantom Stock Units Thursday January 05, 2023 Boeing (NYSE:BA) Director Lynn Good, has been awarded Phantom Stock Units on 456 shares. The transaction date was January 03. The shares last traded at $204.99, hitting a fifteen-month high on the day. 2024 Mar 14, 2024: Boeing chief sustainability officer Christopher Raymond awarded shares Thursday March 14, 2024 Boeing (NYSE:BA) Chief Sustainability Officer Christopher Raymond, was awarded 4,724 shares worth $909,323 on March 11. PIB-Dirbs 2022 Nov 08, 2022: Boeing director Steven M. Mollenkopf buys shares worth $201,861 Tuesday November 08, 2022 Boeing (NYSE:BA) Independent Director Steven M. Mollenkopf bought 1,285 shares worth $201,861 on November 04. The purchase price was $157.09. The shares hit a three-month high on the day. 2023 Aug 03, 2023: Boeing executive vice president, president and chief executive officer, boeing global services Theodore Colbert sells shares worth $2 million Thursday August 03, 2023 Boeing (NYSE:BA) Executive Vice President, President And Chief Executive Officer and Boeing Global Services Theodore Colbert sold 8,500 shares worth $2,026,136 on August 01. The selling price was $238.37. The shares hit three year high on the day. PIB-Dirobs 2020 Jul 07, 2020: Boeing director Lynn Good awarded Phantom Stock Units Tuesday July 07, 2020 Boeing (NYSE:BA) Director Lynn Good, has been awarded Phantom Stock Units on 486 shares. The transaction date was July 01. The shares last traded at USD178.94. Oct 05, 2020: Boeing director Edmund P. Giambastiani awarded Phantom Stock Units Monday October 05, 2020 Boeing (NYSE:BA) Director Edmund P. Giambastiani, has been awarded Phantom Stock Units on 296 shares. The exercise date is between April 20, 2024 and January 20, 2029. The transaction date was October 01. The shares last traded at $171.20. 2022 Jan 05, 2022: Boeing director Lynne M. Doughtie awarded Phantom Stock Units Wednesday January 05, 2022 Boeing (NYSE:BA) Independent Director Lynne M. Doughtie, has been awarded Phantom Stock Units on 242 shares. The transaction date was January 03. The shares last traded at $213.07, hitting a two-month high on the day. Oct 05, 2022: Boeing director Ronald A. Williams awarded Phantom Stock Units Wednesday October 05, 2022 Boeing (NYSE:BA) Director Ronald A. Williams, has been awarded Phantom Stock Units on 715 shares. The transaction date was October 03. The shares last traded at $132.11. 2023 Jan 05, 2023: Boeing director Lynn Good awarded Phantom Stock Units Thursday January 05, 2023 Boeing (NYSE:BA) Director Lynn Good, has been awarded Phantom Stock Units on 456 shares. The transaction date was January 03. The shares last traded at $204.99, hitting a fifteen-month high on the day. 2024 Mar 14, 2024: Boeing chief sustainability officer Christopher Raymond awarded shares Thursday March 14, 2024 Boeing (NYSE:BA) Chief Sustainability Officer Christopher Raymond, was awarded 4,724 shares worth $909,323 on March 11. PIB-Dirbs 2022 Nov 08, 2022: Boeing director Steven M. Mollenkopf buys shares worth $201,861 Tuesday November 08, 2022 Boeing (NYSE:BA) Independent Director Steven M. Mollenkopf bought 1,285 shares worth $201,861 on November 04. The purchase price was $157.09. The shares hit a three-month high on the day. 2023 Aug 03, 2023: Boeing executive vice president, president and chief executive officer, boeing global services Theodore Colbert sells shares worth $2 million Thursday August 03, 2023 Boeing (NYSE:BA) Executive Vice President, President And Chief Executive Officer and Boeing Global Services Theodore Colbert sold 8,500 shares worth $2,026,136 on August 01. The selling price was $238.37. The shares hit three year high on the day. |