Money: Upper Crust owner feels the heat from grounding of Boeing planes - PressFrom - United Kingdom
  •   
  •   

MoneyUpper Crust owner feels the heat from grounding of Boeing planes

11:25  19 july  2019
11:25  19 july  2019 Source:   msn.com

Boeing’s 737 Max Loses First Customer as Flyadeal Goes to Airbus

Boeing’s 737 Max Loses First Customer as Flyadeal Goes to Airbus Boeing’s 737 Max Loses First Customer as Flyadeal Goes to Airbus

After days of mounting pressure, the United States grounded Boeing ’s 737 Max aircraft on Wednesday, reversing an earlier decision in which American regulators said the planes could keep flying after a deadly crash in Ethiopia.

With Grounding Of Boeing 737 Max Fleet — Where Does That Leave Air Travelers? An estimated 50,000 travelers could be ticketed on 737 Max planes each day, but those Boeing jets — only 72 — represent a small portion of the overall U.S. passenger airline fleet.

Upper Crust owner feels the heat from grounding of Boeing planes © Provided by The Press Association SSP, which operates food and drink services in airports and railway stations, has seen a jump in sales (SSP/PA)

The owners of Upper Crust and Caffe Ritazza has revealed that sales have been hit by the continued grounding of Boeing’s Max 737 planes, with passengers being moved away from terminals.

The planes were grounded worldwide in March by airlines and regulators following two crashes and concerns over safety features, leading to widespread disruption.

But SSP, which also operates travel sites for Burger King and recently bought Jamie’s Italian restaurant at Gatwick Airport, said overall sales were up in the three months to June 30.

Airbus Poised to Overtake Boeing as Biggest Plane Maker

Airbus Poised to Overtake Boeing as Biggest Plane Maker Airbus Poised to Overtake Boeing as Biggest Plane Maker

Long After the Rest of the World, FAA Grounds Malfunctioning Boeing Planes . On Wednesday morning, Canadian Minister of Transport Mark Garneau announced that he has decided to ban the Boeing 737 Max 8 from the nation’s airspace, leaving the United States as the only prominent nation

The decision to ground all Boeing 737 Max planes could cost the company billions of dollars.

Sales rose 9.2% in the period, with like-for-like revenues up 2%.

Upper Crust owner feels the heat from grounding of Boeing planes © Reuters Grounded Boeing 737 MAX aircraft

The company also benefited from the falling pound thanks to its large international base, as foreign currency collected overseas is subsequently converted into sterling.

In the UK, bosses said sales in airports had been stronger compared with its stores in railway stations, and, in the rest of Europe, sales struggled in Spain and Nordic countries due to refurbishment work at airports.

On the impact from Boeing, SSP said the US and Canada were particularly hard-hit.

It said: “In North America, like-for-like sales growth was driven by increasing passenger numbers, although some of our airports have been impacted by the grounding of Boeing Max 737 aircraft and the transfer of passengers away from our terminals.”

Norwegian Air boss quits as airline reels from 737 Max groundings

Norwegian Air boss quits as airline reels from 737 Max groundings Norwegian Air boss quits as airline reels from 737 Max groundings

US regulators increasingly isolated in maintaining plane is safe as EU countries halt flights.

For decades, Boeing has worked to ingratiate itself with regulators and policymakers. That effort could be important as the company responds to a pair of deadly crashes. The Federal Aviation Administration called for the grounding of Boeing 's 737 Max planes on Wednesday.

Gallery: Boeing vs Airbus: the business battle for the skies (Love Money)

Elsewhere, there was strong growth in Egypt and the Middle East, but slower business in China and India – particularly in the latter region following the collapse of the country’s Jet Airways in April.

For the nine-month period to June 30 sales rose by 7.6% and bosses predict full-year results will be in line with expectations.

On the falling pound, which hit two-year lows against the dollar this week, the company said: “If the current … rates were to continue for the rest of 2019, we would expect a slightly positive effect for the full year of around 0.5%.”

MSN are empowering Women In Sport this summer. Find out more about our campaign and the charity fighting to promote the transformational and lifelong rewards of exercise for women and girls in the UK here.

Boeing May Need To Raise More Debt: Here's Why.
Boeing May Need To Raise More Debt: Here's Why

—   Share news in the SOC. Networks

Topical videos:

usr: 1
This is interesting!