Boeing Loss Widens Analysts Miss Big Revenue Drop

Boeing on Wednesday reported a quarterly loss of more than $3 billion quarterly loss compared with a $132 million loss a year earlier. Sales in the quarter were $15.96 billion missing analysts $17.76 billion forecast. Boeing’s defense business continued to be weighed down with losses of $2.8 billion on programs including the KC-46 tanker and Air Force One. $BA said it had positive operating cash flow in the third quarter. It reiterated the target of generating surplus cash for the … Continue reading “Boeing Loss Widens Analysts Miss Big Revenue Drop”

Delta Airlines Sees Record Revenues Boosted by Corporate and European Travel with Strong Dollar.

Delta Airlines was the first airline to report Q3 earnings on Thursday announcing record revenue from “tremendous demand” with the reemergence of corporate travel, offsetting soaring jet fuel expenses up 45% compared to 2019. DAL expects to run at 92% of the comparable 2019 capacity during the December quarter and set on fully restoring its network over the next six-to-nine months. Delta Airlines Earnings Q3 2022 earnings released at 6:15 a.m. ET; conference call at 10:00 a.m ET Adjusted net … Continue reading “Delta Airlines Sees Record Revenues Boosted by Corporate and European Travel with Strong Dollar.”

Boeing Profit Lower as Charges Mount in Military and Space Unit

Boeing on Wednesday reported a profit of $160 million, down from $567 million, or $1, during the same period a year earlier. Sales in the quarter fell 2% to $16.7 billion, missing analysts $17.6 billion forecast. BA said it had positive operating cash flow in the second quarter. It reiterated the target of generating surplus cash for the full year. Boeing’s defense business continued to be weighed down by around $400 million in charges during the quarter. BA continues to … Continue reading “Boeing Profit Lower as Charges Mount in Military and Space Unit”

Airlines Collapse Accelerates, Italy Nationalizes Alitalia, American Airlines Shudder

The Italian government has moved to take control of national carrier Alitalia, which it had an existimg stake in. This follows talk of an AirFrance KLM bailout and warnings by Qantas, American Airlines and United Airlines among others.