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American Airlines-Qantas joint venture wins final U.S. approval

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WASHINGTON (Reuters) – The U.S. Department of Transportation (DOT) on Friday granted American Airlines Group Inc (AAL.O) and Qantas Airways Ltd (QAN.AX) final approval to operate a joint venture after a prior effort was rejected in 2016. FILE PHOTO: An American Airlines airplane sits on the tarmac at LAX in Los Angeles, California, U.S., March Read More

Grounding of 737 MAX after two deadly crashes will cost Boeing $5 billion to date

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The world’s biggest plane-maker Boeing said company revenue will take a $4.9 billion hit in the second quarter due to the worldwide grounding of its 737 MAX jets after two fatal crashes. That will be the biggest quarterly loss in Boeing’s history when it reports its financial results next week. According to the company, lost Read More

Trump meets with airline CEOs over Qatar subsidy accusations

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WASHINGTON (Reuters) – U.S. President Donald Trump met on Thursday with the chief executives of major American airlines to discuss their accusations that subsidies by Qatar and United Arab Emirates are costing jobs in the United States. FILE PHOTO: A Qatar Airways Boeing 787-8 Dreamliner airplane is pictured at Leonardo da Vinci-Fiumicino Airport in Rome, Read More

Crude oil prices plunge as conflict between US and Iran cools

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Oil prices sank on Tuesday after President Trump and US Secretary of State Mike Pompeo struck a softer tone on Iran. The market acted swiftly, selling off crude oil. The comments come a day after Iran’s foreign minister Javad Zarif spoke with NBC News, where he seemed to crack open the door to negotiations of some Read More

Boeing reshuffles management of grounded 737: memo

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SEATTLE (Reuters) – Boeing Co (BA.N) has reassigned the head of its next airplane project to run the troubled 737 program, according to a memo seen by Reuters on Thursday, as the grounding of its 737 MAX in the wake of two accidents commands the planemaker’s full attention. FILE PHOTO: Eric Lindblad, Vice President and Read More

Boeing 737 program manager to retire amid crisis over jet’s grounding: memo

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FILE PHOTO: Eric Lindblad, Vice President and General Manager of the Boeing 777X, speaks at Boeing’s production facility in Everett, Washington, U.S. June 1, 2017. REUTERS/Jason Redmond SEATTLE (Reuters) – Boeing’s 737 jet program manager, Eric Lindblad, will retire in a matter of weeks after roughly 12 months on the job, according to a company Read More

Domestic airfares soar in Indonesia despite government price cap

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SINGAPORE/JAKARTA (Reuters) – When Resti Novita Sari booked to fly from Jakarta to her hometown of Padang to visit family for the Eid holiday, airfares were 40% to 60% higher than she had paid in previous years. FILE PHOTO: A passenger waiting for his flight to depart watches a plane take off from the domestic Read More

Ryanair sees risk to 2020 growth if 737 MAX grounded beyond November

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BRUSSELS (Reuters) – The boss of Europe’s Ryanair Holdings (RYA.I) warned on Wednesday the impact of the prolonged grounding of Boeing Co’s (BA.N) 737 MAX on the airline’s growth plans may start to spill over to next summer if the airplane is not flying again by November. FILE PHOTO: A photo of Boeing 737 MAX Read More

Future Moscow skyscraper to become Europe’s tallest residential complex

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The 405-meter ‘One Tower’ is set to be become the tallest residential building in Europe, the deputy mayor of Moscow announced as he presented the ambitious project at the Moscow Urban Forum. The skyscraper will also be the tallest in the Moscow City International Business Center, topping the city’s current tallest building, Federation Tower, by Read More

Boeing makes $100 million pledge for 737 MAX crash-related support

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SEATTLE/CHICAGO (Reuters) – Boeing Co said on Wednesday it would give $100 million over multiple years to local governments and non-profit organizations to help families and communities affected by the deadly crashes of its 737 MAX planes in Indonesia and Ethiopia. FILE PHOTO: The Boeing logo is pictured at the Latin American Business Aviation Conference Read More