Money: Boeing Surges Most Since June on Optimism Over 737 Max Timeline - - PressFrom - Canada

Money Boeing Surges Most Since June on Optimism Over 737 Max Timeline

00:00  12 november  2019
00:00  12 november  2019 Source:

Boeing 'deserves this scrutiny,' CEO says at senate hearing

  Boeing 'deserves this scrutiny,' CEO says at senate hearing The executive also said that he was 'deeply sorry' for the loss of life in the two crashes of the 737 MAX.Boeing CEO Dennis Muilenburg, testifying before the U.S. Senate Commerce Committee on Tuesday, vowed to make the 737 MAX one of the safest planes in the air.

The Boeing 737 MAX is a narrow-body aircraft series manufactured by Boeing Commercial Airplanes as the fourth generation of the Boeing 737 , succeeding the Boeing 737 Next Generation (NG).

Mark Forkner, Boeing 's former chief technical pilot on the MAX project, invoked the privilege in response to a grand jury subpoena issued by U.S. Justice Department prosecutors looking into the

(Bloomberg) -- Boeing Co. soared after providing more detail on how the 737 Max will return to the skies -- even as the company backed away from saying the grounded jet would win full regulatory approval next month.

The U.S. Federal Aviation Administration is on track to certify redesigned flight-control software by mid-December, Boeing spokesman Gordon Johndroe said Monday in an email. That could enable the planemaker to begin shipping new jets that have been stashed across the Pacific Northwest and Texas during a flying ban imposed in March after two crashes killed 346 people.

a screenshot of a cell phone: Boeing is more than 10% below its level before the Ethiopia crash© Bloomberg Boeing is more than 10% below its level before the Ethiopia crash

But the Max won’t be cleared to resume commercial flights until regulators also sign off on updated training material for pilots -- a step Boeing expects in January. And the company acknowledged it will take time for airlines to ready stored jets for service and work them back into flight schedules.

Air Canada misses earnings forecast due to 737 MAX grounding

  Air Canada misses earnings forecast due to 737 MAX grounding Air Canada on Tuesday posted record operating revenues and strong earnings, but missed forecasts, which it blamed on the grounding of Boeing's 737 MAX jetliners over the past eight months. In the third quarter, Air Canada posted revenues of Can$5.5 billion (US$4.2 billion), up from Can$5.4 billion a year earlier. Its net profit of Can$636 million (US$487 million) or Can$2.27 (US$1.74) per share in the three months ended September 30, however, was down from Can$702 million and missed analysts' expectations of Can$2.35 per share.To ensure Air Canada has sufficient capacity over the upcoming winter, it said it has leased two Airbus A330 aircraft.

The Boeing 737 Max has been grounded worldwide following the second crash, in March, and there is no indication when it will be allowed to fly again. The Chicago-based manufacturer is addressing issues with the flight-control system that appears to have played a role in both the crash of Lion Air Flight 610

A timeline of events in the grounding of Boeing 's 737 Max jetliners after two deadly crashes that appear to be linked to It was the first cancellation since Boeing ’s planes were grounded. June 19, 2019. Hudson River hero joins other pilots criticizing Boeing at House hearing. The Boeing Co. said it would pay an “initial investment” of 0 million over several years to help the families of victims

The more detailed road map eased investor jitters over the prospects for the company’s main source of profit after months of damaging revelations. Boeing reversed losses after the comments on the timeline, rising 5.2% to $369.40 at 3:17 p.m. in New York after climbing as much as 5.3% for the biggest intraday advance in almost five months.

Boeing Max Return Has More Layers Than Onion: Brooke Sutherland

Boeing still has much work to do, and its earlier pronouncements of the Max’s return proved to be overly optimistic. In particular, the company must still evaluate how pilots handle cockpit stresses. Investigators flagged that issue after crews in the fatal accidents struggled with the new flight-control software amid a cacophony of alarms.

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Boeing 737 MAX airplanes are seen parked near the Boeing Field in Seattle on Aug. The manufacturer’s assumptions around the Max ’s return have proven over - optimistic before as regulators probed its flight-control system for Before it's here, it's on the Bloomberg Terminal. LEARN MORE .

Boeing 737 s operated by Ethiopian Airlines at Bole International Airport in Addis Ababa. Boeing ’s response to its rival’s move was a more efficient engine, but the Max engine was bigger than But in light of the Indonesian disaster, pilots have since been informed by Boeing and regulatory agencies

Southwest’s Caution

The largest Max customer, Southwest Airlines Co., sounded a more cautious note around the timing of when the plane will again carry passengers.

“I’m still not highly confident about a mid-December ungrounding date,” Southwest Chief Executive Officer Gary Kelly said in a weekly message to employees before Boeing’s statement. “We obviously need to give the FAA the time that they need to do their job and support them every way we can.”

But Kelly also voiced confidence in Boeing’s progress toward winning regulatory approval for the revamped Max.

“As time goes by, the more confident I am that we’re on a path to getting that airplane back in the air,” Kelly said.

Southwest and American Airlines Group Inc. have said they intend to remove the Max from their flight schedules through early March, marking almost a year since the aircraft was grounded worldwide following the crash of an Ethiopian Airlines plane on March 10. A Lion Air jet slammed into the Java Sea off the coast of Indonesia in October 2018.

Boeing chairman says CEO won't get bonus until Max flies

  Boeing chairman says CEO won't get bonus until Max flies Boeing chairman says CEO won't get bonus until Max fliesDavid Calhoun said the Boeing board believes Muilenburg "has done everything right" and is positioning the Chicago company to return the 737 Max to service after two accidents killed 346 people.

Boeing got a huge vote of confidence for its troubled 737 Max on Tuesday as International Airlines Group announced it plans to buy 200 of the jets.

SEATTLE — The fatal flaws with Boeing ’s 737 Max can be traced to a breakdown late in the plane’s development, when test pilots, engineers and A year before the plane was finished, Boeing made the system more aggressive and riskier. While the original version relied on data from at least two types

Max Hurdles

Last week, Boeing completed a key step toward gaining final clearance for the Max: sessions with the FAA in engineering simulators known as eCabs to ensure that the overall software systems perform as intended, both in normal conditions and amid failures.

The remaining milestones are:

A multiday simulator session with airline pilots to assess “human factors” and crew workloadFAA certification flight or flights to test the final version of the software in a Boeing Max loaded with monitoring equipmentFinal submission of relevant documents to support software certificationA multiday simulator session with pilots from global regulators to validate training under the oversight of the Joint Operational Evaluation Board, an international group of regulators.

Following that session, the FAA’s Flight Standardization Board will release a report for public comment, followed by final approval of the training.

--With assistance from Alan Levin.

To contact the reporters on this story: Julie Johnsson in Chicago at;Mary Schlangenstein in Dallas at

To contact the editors responsible for this story: Brendan Case at, Tony Robinson

For more articles like this, please visit us at

©2019 Bloomberg L.P.

Boeing attracts bids for 50 of its embattled 737 Max jets at Dubai Air Show .
Boeing managed to reach day three of the Dubai Air Show with bids for 50 of its embattled 737 Max jets.Kazakhstan carrier Air Astana announced Tuesday a letter of intent for 30 of the Max jets, which have been grounded globally since March following two devastating crashes in the span of five months that killed 346 people.

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