Leslie Josephs
Leslie Josephs
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Boeing's 737 Max troubles deepen, taking airlines, suppliers with it

Boeing's 737 Max troubles deepen, taking airlines, suppliers with it

Boeing shares continued their slide Monday after explosive messages last week revealed a top pilot had concerns about a system on the 737 Max that was later implicated in two fatal crashes. Several Wall Street analysts downgraded Boeing, fretting about the fallout from the crisis that has barred the manufacturer from delivering its best-selling planes that make up around 40% of its profit. Boeing’s stock fell 3.8% Monday to a two-month low of $331.06, shaving 88 points off the Dow Jones Industrial Average, but had pared losses from earlier in the session. The messages made public Friday...

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Leslie Josephs
October 21, 2019
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AerCap CEO talks the future of aircraft leasing after massive GE deal

AerCap CEO talks the future of aircraft leasing after massive GE deal

rocked the aviation world last week with a for 's aircraft leasing arm, General Electric Commercial Aviation Services, or Gecas. For GE, it marks CEO Larry Culp's latest move to slim down the conglomerate, raise cash and pay down debt. After the deal closes the remnants of GE Capital will be folded into the main business. GE would have a 46% stake in the combined company.For aviation, the deal would combine the world's two largest aircraft lessors into a behemoth with even more power to negotiate prices with manufacturers like Airbus and . Together, the two companies would own or manage...

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Leslie Josephs
Mar 15
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Biden to impose travel restrictions on South Africa, U.K. and Brazil to mitigate new Covid strains

Biden to impose travel restrictions on South Africa, U.K. and Brazil to mitigate new Covid strains

Key PointsPresident will sign a travel ban Monday on most non-U.S. citizens entering the country who were recently in South Africa, where a new strain of Covid-19 has been identified, a person familiar with the situation told CNBC.Biden will also reinstate travel restrictions on the entry of non-U.S. citizens from the U.K. and Brazil, where new Covid strains have emerged. The restrictions will also apply to Ireland and much of Europe. Former President had rescinded the restrictions just before Biden took office.Reuters first reported news of the travel restrictions on Sunday.Dr. Anne...

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Leslie Josephs
Jan 24
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Delta Air Lines to pay out thousands of dollars to managers — but not to pilots or other workers

Delta Air Lines to pay out thousands of dollars to managers — but not to pilots or other workers

IE 11 is not supported. For an optimal experience visit our site on another browser.March 1, 2021, 4:58 PM UTCUpdated March 1, 2021, 5:03 PM UTCBy Leslie Josephs, CNBCDelta Air Lines, which received billions of dollars in federal aid last year, is paying managers bonuses ranging from a few thousand dollars to more than $100,000 to make up for pay cuts at the start of the pandemic last year.Frontline workers like flight attendants, pilots and others in non-managerial positions are not receiving bonuses.Last year, Delta cut managers’ pay and also reduced thousands of workers’ hours by 25...

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CNBC
Mar 1
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JetBlue is getting rid of ticket-change fees but banning overhead bin access for the cheapest tickets

JetBlue is getting rid of ticket-change fees but banning overhead bin access for the cheapest tickets

Key Points is getting rid of ticket-change fees for most of its tickets, but travelers who are buying its cheapest fares should pack light.The New York-based airline on Tuesday said starting July 20 it will guarantee overhead bin space for its standard coach fares up to its Mint business class. But travelers who booked Blue Basic, the airline's cheapest option, won't be allowed to use overhead bin space, a policy put in place when it started selling no-frills basic economy tickets in 2017.If JetBlue can't make good on its promise it will give travelers a $25 credit. That's a relatively easy...

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Leslie Josephs
Feb 17
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United Airlines warns thousands of employees that their jobs are again at risk, labor unions seek more government aid

United Airlines warns thousands of employees that their jobs are again at risk, labor unions seek more government aid

Key Points said the jobs of roughly 14,000 employees are at risk when a second round of federal aid expires this spring, the latest sign of how the industry is struggling to regain its footing in the Companies are legally required to inform employees if their jobs are in jeopardy often two months in advance. It does not mean these workers will ultimately lose their employment, though. United is turning to new voluntary measures to reduce its head count.United and recently started recalling thousands of employees they furloughed when the first round of government payroll support expired in...

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Leslie Josephs
Jan 29
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FAA extends zero-tolerance policy for unruly airline passengers as cases top 500

FAA extends zero-tolerance policy for unruly airline passengers as cases top 500

Key PointsThe Federal Aviation Administration on Monday said it would continue to on unruly passengers, extending the zero-tolerance policy it implemented in January. Airlines have reported more than 500 cases since late December, according to the agency.Most of those cases were related to travelers who refused to wear face masks, which both airlines and the federal government require for commercial air travel, the FAA said."I have decided to extend the FAA's unruly-passenger zero-tolerance policy as we continue to do everything we can to confront the pandemic," FAA Administrator Steve...

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Leslie Josephs
Mar 15
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Boeing posts record annual loss, pushes out 777X deliveries to late 2023

Boeing posts record annual loss, pushes out 777X deliveries to late 2023

Key Points reported a record net loss that topped $11.9 billion in 2020 — results that worsened after it pushed out when it expects to start to late 2023, taking a $6.5 billion charge in the fourth quarter against that wide-body program as the hits aircraft demand.Boeing's shares were down close to 3% in mid-morning trading, helping drag down the broader market.The company lost a whopping $15.25 a share in the fourth quarter on an adjusted basis that took Wall Street by surprise; analysts had forecast a loss of $1.80 share. The company also booked a $468 million write-down against "abnormal...

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Leslie Josephs
Jan 27
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Trump preparing to lift Europe, UK, Brazil Covid-19 travel restrictions this month

Trump preparing to lift Europe, UK, Brazil Covid-19 travel restrictions this month

The Trump administration is planning to lift Covid-19 travel restrictions on most foreign visitors from Europe, the U.K. and Brazil, effective Jan. 26, according to people familiar with the matter.The White House put the rules place to curb the spread of the virus. Last week, the U.S. said it would require travelers arriving from abroad, including U.S. citizens, to . That requirement takes effect on Jan. 26, the same day the travel restrictions would be lifted. The planned removal of the ban, reported earlier by Reuters, would go into effect just days after President-elect 's Wednesday...

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Leslie Josephs
Jan 18
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End of a Covid era: Delta to stop blocking middle seats on May 1

End of a Covid era: Delta to stop blocking middle seats on May 1

Key PointsIn this article said Wednesday it will stop blocking seats on its planes starting May 1, the last U.S. airline to end the Covid-19-era policy as more .Delta first started blocking middle seats and limiting capacity on smaller planes in April near the start of . Other airlines had similar policies, including , and , but they have since gone back to .Physically distancing from other passengers is extremely difficult on an airplane. Delta and other carriers have repeatedly said filtration systems and intense cleaning make it unlikely that travelers will catch Covid-19 on a plane. But...

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Leslie Josephs
Mar 31
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