FAA panel says Boeing 737 Max software is ‘operationally suitable’ in new report

The Federal Aviation Administration on Tuesday released its initial review of Boeing’s update to its 737 Max anti-stall software suspected of contributing to two fatal plane crashes, calling it “operationally suitable.” The draft report from the FAA’s Flight Standardization Board recommends that pilots take additional computer-based training for the MCAS automated flight system. Boeing said it’s completed 96 flights totaling over 159 hours of air time with its software fix for the Max jet. The c


The Federal Aviation Administration on Tuesday released its initial review of Boeing’s update to its 737 Max anti-stall software suspected of contributing to two fatal plane crashes, calling it “operationally suitable.” The draft report from the FAA’s Flight Standardization Board recommends that pilots take additional computer-based training for the MCAS automated flight system. Boeing said it’s completed 96 flights totaling over 159 hours of air time with its software fix for the Max jet. The c
FAA panel says Boeing 737 Max software is ‘operationally suitable’ in new report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: emma newburger, jason redmond, afp, getty images
Keywords: news, cnbc, companies, boeing, fix, max, works, wells, operationally, faa, 737, systemthe, panel, boeings, suitable, flight, company, board, report, software


FAA panel says Boeing 737 Max software is 'operationally suitable' in new report

The Federal Aviation Administration on Tuesday released its initial review of Boeing’s update to its 737 Max anti-stall software suspected of contributing to two fatal plane crashes, calling it “operationally suitable.”

The draft report from the FAA’s Flight Standardization Board recommends that pilots take additional computer-based training for the MCAS automated flight system.

The company’s shares jumped by about 2% on the news.

Boeing said it’s completed 96 flights totaling over 159 hours of air time with its software fix for the Max jet. The company is also updating airlines by bringing representatives into flight simulators and showing them the modified flight control system.

The company has stopped deliveries and has cut Max production by 20% as it works on a fix. The jets have been grounded since mid-March. Wells Fargo said Tuesday that Boeing’s troubles with the Max will reduce second-quarter GDP growth by 0.2%.

Separately, Institutional Shareholder Services on Tuesday recommended that shareholders vote in favor of a proposal that would require Boeing to have an independent chairman of the board. That title is currently held by CEO Dennis Muilenburg.


Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: emma newburger, jason redmond, afp, getty images
Keywords: news, cnbc, companies, boeing, fix, max, works, wells, operationally, faa, 737, systemthe, panel, boeings, suitable, flight, company, board, report, software


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American Airlines cancels all 737 Max flights through August 19

American Airlines is extending cancellations for the Boeing 737 Max aircraft through August 19, a key summer travel period, as the jets remain grounded. The cancellations amount to about 115 flights per day, roughly 1.5% of American’s total flying per day in the summer, the airline said. Boeing has slowed production and stopped deliveries as it works on a software fix. United has canceled Max flights through June 5. As major airlines continue to extend cancellations, Boeing said Thursday that it


American Airlines is extending cancellations for the Boeing 737 Max aircraft through August 19, a key summer travel period, as the jets remain grounded. The cancellations amount to about 115 flights per day, roughly 1.5% of American’s total flying per day in the summer, the airline said. Boeing has slowed production and stopped deliveries as it works on a software fix. United has canceled Max flights through June 5. As major airlines continue to extend cancellations, Boeing said Thursday that it
American Airlines cancels all 737 Max flights through August 19 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: emma newburger, shannon stapleton
Keywords: news, cnbc, companies, cancels, max, american, remain, boeing, 19, software, cancellations, travel, fix, summer, flights, 737, airlines


American Airlines cancels all 737 Max flights through August 19

American Airlines is extending cancellations for the Boeing 737 Max aircraft through August 19, a key summer travel period, as the jets remain grounded.

The cancellations amount to about 115 flights per day, roughly 1.5% of American’s total flying per day in the summer, the airline said. They come after the Max’s anti-stall software was implicated in an Ethiopian crash in March that killed 157 people.

It’s unclear when the Max, which has been grounded since mid-March, will return. Boeing has slowed production and stopped deliveries as it works on a software fix.

On Friday, Southwest Airlines removed the Max jet from its schedule through Aug. 5. United has canceled Max flights through June 5.

“We remain confident that the impending software updates, along with the new training elements Boeing is developing for the MAX, will lead to recertification of the aircraft soon,” American CEO Doug Parker and President Robert Isom wrote in a letter to employees Sunday.

Parker also said canceling the flights now will help the airline plan for its busiest travel season of the year.

As major airlines continue to extend cancellations, Boeing said Thursday that it’s completed 96 flights with the new Max software fix. The planemaker will likely submit the fix to Federal Aviation Administration regulators within the next couple weeks.


Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: emma newburger, shannon stapleton
Keywords: news, cnbc, companies, cancels, max, american, remain, boeing, 19, software, cancellations, travel, fix, summer, flights, 737, airlines


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Boeing CEO says it’s completed 96 test flights with 737 Max software fix

The test flights are one prong of a broad effort by Boeing to get the Max back in the air. Boeing says representatives from two-thirds of the 50 airlines that have the Max in their fleets have tested the new software in a simulator. The company said it will cut Max production by 20% as it works on a software fix to get the jets running again. Investigators suspect that faulty data feeding into the aircraft’s MCAS flight system played a major role in the Indonesia and Ethiopia accidents. Investig


The test flights are one prong of a broad effort by Boeing to get the Max back in the air. Boeing says representatives from two-thirds of the 50 airlines that have the Max in their fleets have tested the new software in a simulator. The company said it will cut Max production by 20% as it works on a software fix to get the jets running again. Investigators suspect that faulty data feeding into the aircraft’s MCAS flight system played a major role in the Indonesia and Ethiopia accidents. Investig
Boeing CEO says it’s completed 96 test flights with 737 Max software fix Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: phil lebeau, emma newburger, stephen brashear, getty images
Keywords: news, cnbc, companies, test, completed, system, flights, ceo, 737, software, jets, 96, faa, fix, boeing, max, weeks, flight, grounded


Boeing CEO says it's completed 96 test flights with 737 Max software fix

The test flights are one prong of a broad effort by Boeing to get the Max back in the air. The company is also updating airlines by bringing representatives into flight simulators and showing them how the modified flight control system will feel in the cockpit. Boeing says representatives from two-thirds of the 50 airlines that have the Max in their fleets have tested the new software in a simulator.

“We want everyone to be confident in it and the additional training and educational resources we’re developing and deploying,” Muilenberg said, adding that the last few weeks have been the most “heartwrenching” of his career.

The company will likely submit its plan to fix the Max, which has been grounded since mid-March, to the Federal Aviation Administration and other regulators within the next two weeks, according to people familiar with the matter. Getting those regulators to approve the plan will likely take several more weeks.

“I expect that the airplane is still several weeks away from getting the final seal of approval to be flown again, not so much that the software fix is a problem, but just from an optics standpoint,” said Jeff Guzzetti, former director of the FAA’s accident investigation civision. Guzzetti believes the FAA is stinging from criticism its relationship with Boeing was “too cozy” because the FAA designated Boeing engineers to self-certify parts of the 737 Max before the plane was given final approval in 2017.

Boeing has scrambled to restore faith in its 737 Max after the jet’s anti-stall software was implicated in two crashes in the last five months that killed 346 people and grounded the planes worldwide. The company said it will cut Max production by 20% as it works on a software fix to get the jets running again. They’ve been grounded since mid-March.

Investigators suspect that faulty data feeding into the aircraft’s MCAS flight system played a major role in the Indonesia and Ethiopia accidents. Investigators and lawmakers have scrutinized Boeing’s software system malfunction, from the original design to the training and safety certifications.

When designing the newest Max jets, Boeing allegedly increased the power of the automated system that pushes the plane nose down, making it hard for pilots to regain control of the doomed jets. Changes to the anti-stall system were not fully reviewed by the FAA.

Boeing said Tuesday that deliveries and new orders for all of its 737 jets fell in the first quarter, and earlier in the week, Wall Street analysts downgradedBoeing stock. The company’s shares have have fallen nearly 9 percent in the past month.

WATCH: What the future of FAA oversight may look like


Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: phil lebeau, emma newburger, stephen brashear, getty images
Keywords: news, cnbc, companies, test, completed, system, flights, ceo, 737, software, jets, 96, faa, fix, boeing, max, weeks, flight, grounded


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Italy has a $26 billion hole to fix. And it could mean another battle with the EU

The Italian finance ministry is set to release updated fiscal plans Wednesday, with analysts contemplating another dispute with the EU and volatility in the country’s bond market. According to press reports over the weekend, the plans are likely to show a revised 2019 budget deficit and growth of just 0.3% for this year — down from an earlier 1.0% prediction. For 2020, the numbers are expected to show a deficit of 2.1% of its gross domestic product, from a previous 1.8% target. After a tense cou


The Italian finance ministry is set to release updated fiscal plans Wednesday, with analysts contemplating another dispute with the EU and volatility in the country’s bond market. According to press reports over the weekend, the plans are likely to show a revised 2019 budget deficit and growth of just 0.3% for this year — down from an earlier 1.0% prediction. For 2020, the numbers are expected to show a deficit of 2.1% of its gross domestic product, from a previous 1.8% target. After a tense cou
Italy has a $26 billion hole to fix. And it could mean another battle with the EU Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: joumanna bercetche, alessia peirdomenico, bloomberg, getty images
Keywords: news, cnbc, companies, 2019, fix, ministry, mean, yields, billion, 26, battle, hole, revised, eu, italian, finance, deficit, italy, bond, plans, budget


Italy has a $26 billion hole to fix. And it could mean another battle with the EU

The Italian finance ministry is set to release updated fiscal plans Wednesday, with analysts contemplating another dispute with the EU and volatility in the country’s bond market.

According to press reports over the weekend, the plans are likely to show a revised 2019 budget deficit and growth of just 0.3% for this year — down from an earlier 1.0% prediction. For 2020, the numbers are expected to show a deficit of 2.1% of its gross domestic product, from a previous 1.8% target.

The new deficit targets could be wider than the circa 2% number agreed with the European Commission — the EU’s executive arm — toward the end of last year.

Things came to a head between Rome and Brussels last fall after Italy’s coalition government announced a draft budget for 2019 of 2.4%, which would have breached Maastricht Treaty requirements and opened up the possibility of an infringement procedure.

After a tense couple of months, the Italian finance ministry eventually revised the 2019 deficit forecast to 2.04% to avoid sanctions. Financial assets recovered with 10-year bond yields falling back after hitting highs of 3.68% in October. Yields move inversely to sovereign debt prices.


Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: joumanna bercetche, alessia peirdomenico, bloomberg, getty images
Keywords: news, cnbc, companies, 2019, fix, ministry, mean, yields, billion, 26, battle, hole, revised, eu, italian, finance, deficit, italy, bond, plans, budget


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Brexit: Theresa May reaches out to Jeremy Corbyn in bid to fix deal

U.K. Prime Minister Theresa May and the leader of the main opposition party, Jeremy Corbyn, meet on Friday for the third consecutive day of talks in a bid to break the current Brexit deadlock. Earlier this week, May outlined to Parliament the terms for the talks, promising to support the final outcome and take it to Brussels. Unlike in the U.S., the party that controls the legislature (Parliament) in the United Kingdom also controls the executive (government). Therefore, for Corbyn to be engaged


U.K. Prime Minister Theresa May and the leader of the main opposition party, Jeremy Corbyn, meet on Friday for the third consecutive day of talks in a bid to break the current Brexit deadlock. Earlier this week, May outlined to Parliament the terms for the talks, promising to support the final outcome and take it to Brussels. Unlike in the U.S., the party that controls the legislature (Parliament) in the United Kingdom also controls the executive (government). Therefore, for Corbyn to be engaged
Brexit: Theresa May reaches out to Jeremy Corbyn in bid to fix deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: david reid
Keywords: news, cnbc, companies, fix, brexit, seats, support, reaches, voted, labour, agree, talks, party, parliament, deal, corbyn, opposition, jeremy, theresa, bid


Brexit: Theresa May reaches out to Jeremy Corbyn in bid to fix deal

U.K. Prime Minister Theresa May and the leader of the main opposition party, Jeremy Corbyn, meet on Friday for the third consecutive day of talks in a bid to break the current Brexit deadlock.

The two leaders, who have fought bitterly for months over Britain’s future, are now trying to agree a deal that can then be negotiated with the rest of the EU.

Earlier this week, May outlined to Parliament the terms for the talks, promising to support the final outcome and take it to Brussels. “If we cannot agree on a single unified approach, then we would instead agree a number of options for the Future Relationship that we could put to the House (of Commons) in a series of votes to determine which course to pursue,” she said.

“Crucially, the government stands ready to abide by the decision of the House. But to make this process work, the opposition would need to agree to this too.”

Unlike in the U.S., the party that controls the legislature (Parliament) in the United Kingdom also controls the executive (government).

Therefore, for Corbyn to be engaged in days of talks with May to resolve an issue is yet another example of how Brexit has shaken British politics.

The problem for May, and the reason why she has been forced into talks, is that she cannot rely on the unanimous support of members of her own Conservative Party who are split between different versions of Brexit, and even no Brexit at all.

Corbyn and Labour have the same issue of division. Many of Labour’s lawmakers in the north of England secured their seats in Parliament in areas which voted to leave the European Union. Many southern seats won by Labour, especially those in London, voted to remain.


Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: david reid
Keywords: news, cnbc, companies, fix, brexit, seats, support, reaches, voted, labour, agree, talks, party, parliament, deal, corbyn, opposition, jeremy, theresa, bid


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The Fed has made a big mistake, and here’s how Powell could fix it: Stifel

With all that, it’s starting to look like the Federal Reserve has made a big mistake, said Barry Bannister, Stifel’s head of U.S. equity strategy. The Fed over-hiked by twice in the fourth quarter and that was really part and parcel why we had such a big sell-off. The economic effect of that is going to show up towards mid-year,” Bannister said Thursday on “Trading Nation.” That marked the fourth rate increase since Jerome Powell assumed the chair. They’re going to have to see some eggs broken i


With all that, it’s starting to look like the Federal Reserve has made a big mistake, said Barry Bannister, Stifel’s head of U.S. equity strategy. The Fed over-hiked by twice in the fourth quarter and that was really part and parcel why we had such a big sell-off. The economic effect of that is going to show up towards mid-year,” Bannister said Thursday on “Trading Nation.” That marked the fourth rate increase since Jerome Powell assumed the chair. They’re going to have to see some eggs broken i
The Fed has made a big mistake, and here’s how Powell could fix it: Stifel Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: keris lahiff, luke sharrett, bloomberg, getty images, scott mlyn, brendan smialowski, afp, rosley majid, eyeem, mike blake
Keywords: news, cnbc, companies, heres, fix, big, earnings, fourth, powell, economy, economic, going, bannister, stifel, mistake, fed, quarter, market, rate


The Fed has made a big mistake, and here's how Powell could fix it: Stifel

Fears of a global recession are on the rise, part of the yield curve has inverted and earnings are expected to slow this year.

With all that, it’s starting to look like the Federal Reserve has made a big mistake, said Barry Bannister, Stifel’s head of U.S. equity strategy.

“The economy is about six months after Fed action. The Fed over-hiked by twice in the fourth quarter and that was really part and parcel why we had such a big sell-off. The economic effect of that is going to show up towards mid-year,” Bannister said Thursday on “Trading Nation.”

The Federal Open Market Committee last raised rates by a quarter point in December, boosting the benchmark funds rate to a range of 2.25 percent to 2.5 percent. That marked the fourth rate increase since Jerome Powell assumed the chair. At the December meeting, it also forecast two hikes in 2019.

Its forecast looks markedly different just months later. By its March meeting, the Fed had ratcheted down expectations to zero rate hikes this year and the market is even pricing in the potential for a rate cut in 2019.

If economic conditions continue to worsen, and the market reacts poorly, it may need to do even more than one cut to right the ship, said Bannister.

“We know the first quarter is weak but if it continues into the second quarter, that’s going to be evidence that the market was right back in the fourth quarter. The problem the Fed has is it’s kind of a chicken and an egg. They’re going to have to see some eggs broken in the economy before the Fed goes chicken,” he said.

Bannister said two rate cuts could be appropriate based on his forecasts for a weakening U.S. economy. He anticipates disappointing inflation, slower nominal and real growth, weakness abroad, and a failed retail revival.

Still, it may take some convincing for the Fed to act, he said.

“In the Fed’s view, they’ve already given us enough red meat. They’ve given us a quicker taper of the quantitative tightening. They took all the dots out of 2019. So it’s going to take a lot for the Fed to cut rates and I think that would be evidenced by economic and market weakness. From all the things that we’re watching, it looks like this risk trade is starting to peter out a little bit,” Bannister said.

Bannister is less bullish than most of the street. He anticipates S&P 500 aggregate earnings at $161 in 2019, below the $167.65 estimated by analysts surveyed by FactSet. That earnings estimate gives Bannister a S&P 500 target of 2,750 for year-end. That target implies 2 percent downside from current levels.


Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: keris lahiff, luke sharrett, bloomberg, getty images, scott mlyn, brendan smialowski, afp, rosley majid, eyeem, mike blake
Keywords: news, cnbc, companies, heres, fix, big, earnings, fourth, powell, economy, economic, going, bannister, stifel, mistake, fed, quarter, market, rate


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Airlines warn of cancellations as Boeing readies 737 Max software fix

Airlines are preparing for more flight cancellations as Boeing readies a software fix for its best-selling 737 Max planes following two fatal crashes of the aircraft that prompted regulators around the world to ground the plane. Pilots from U.S. carriers on Saturday tested Boeing’s software changes to the automatic anti-stall system in Renton, Washington, where Boeing assembles the 737 Max planes. Representatives from Southwest Airlines, American Airlines and United Airlines — the U.S. airlines


Airlines are preparing for more flight cancellations as Boeing readies a software fix for its best-selling 737 Max planes following two fatal crashes of the aircraft that prompted regulators around the world to ground the plane. Pilots from U.S. carriers on Saturday tested Boeing’s software changes to the automatic anti-stall system in Renton, Washington, where Boeing assembles the 737 Max planes. Representatives from Southwest Airlines, American Airlines and United Airlines — the U.S. airlines
Airlines warn of cancellations as Boeing readies 737 Max software fix Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-25  Authors: leslie josephs, ralph freso, getty images, joe raedle
Keywords: news, cnbc, companies, regulators, crash, changes, max, readies, warn, cancellations, airlines, renton, software, planes, fix, boeing, 737


Airlines warn of cancellations as Boeing readies 737 Max software fix

Airlines are preparing for more flight cancellations as Boeing readies a software fix for its best-selling 737 Max planes following two fatal crashes of the aircraft that prompted regulators around the world to ground the plane.

Pilots from U.S. carriers on Saturday tested Boeing’s software changes to the automatic anti-stall system in Renton, Washington, where Boeing assembles the 737 Max planes. Representatives from Southwest Airlines, American Airlines and United Airlines — the U.S. airlines that fly the 737 Max — also met with Boeing officials about the software changes and additional pilot training.

The U.S. government ordered airlines to suspend flights using the Boeing 737 Max plane, joining dozens of other countries in taking that step amid concerns about the similarities between the March 10 crash of an Ethiopian Airlines 737 Max and a Lion Air crash in October, which together killed 346 people.

Boeing late Sunday said it invited more than 200 airline pilots and regulators to Renton last Wednesday to “share more details about our plan for supporting the safe return of the 737 MAX to commercial service.”

The Federal Aviation Administration expects to get a look at the software early in the week, according to a person familiar with the matter. The agency needs to certify Boeing’s changes before it can be added to the aircraft.


Company: cnbc, Activity: cnbc, Date: 2019-03-25  Authors: leslie josephs, ralph freso, getty images, joe raedle
Keywords: news, cnbc, companies, regulators, crash, changes, max, readies, warn, cancellations, airlines, renton, software, planes, fix, boeing, 737


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Hong Kong is building an $80 billion artificial island to fix its housing shortage

Hong Kong will spend around $80 billion to build one of the world’s biggest artificial islands. The project’s total cost will be around 624 billion Hong Kong dollars ($79.5 billion), Wong said. Hong Kong is home to about 7.4 million people. Although Wong said the new island would help Hong Kong “withstand the increasing pressure of the population,” the plans have faced criticism. The idea for the development of an artificial island was first floated by Hong Kong leader Carrie Lam, who said in a


Hong Kong will spend around $80 billion to build one of the world’s biggest artificial islands. The project’s total cost will be around 624 billion Hong Kong dollars ($79.5 billion), Wong said. Hong Kong is home to about 7.4 million people. Although Wong said the new island would help Hong Kong “withstand the increasing pressure of the population,” the plans have faced criticism. The idea for the development of an artificial island was first floated by Hong Kong leader Carrie Lam, who said in a
Hong Kong is building an $80 billion artificial island to fix its housing shortage Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-20  Authors: chloe taylor, nikada, getty images
Keywords: news, cnbc, companies, hong, building, development, housing, fix, billion, 80, island, wong, artificial, kongs, land, shortage, help, kong


Hong Kong is building an $80 billion artificial island to fix its housing shortage

Hong Kong will spend around $80 billion to build one of the world’s biggest artificial islands.

Secretary for Development Michael Wong said in a speech Tuesday that around 1,000 hectares of land would be constructed to deal with Hong Kong’s “serious shortage of land supply.”

The project’s total cost will be around 624 billion Hong Kong dollars ($79.5 billion), Wong said.

The new “land” will be formed near the existing island of Lantau, and will provide up to 260,000 residential units, he added. Seventy percent of the new homes will be public housing.

Hong Kong is home to about 7.4 million people. The territory has its own laws and currency, while traditions of transparency, low taxes and light regulation have helped make it a major global financial center. High demand and short supply have driven property prices to “unaffordable” levels in recent years.

Although Wong said the new island would help Hong Kong “withstand the increasing pressure of the population,” the plans have faced criticism.

Greenpeace responded to Wong’s announcement with a statement urging the government to develop Hong Kong’s former agricultural sites instead, claiming that it would be a more cost effective and environmentally friendly strategy.

Zhu Jiang, senior project director at Greenpeace, said the move was a “retrogression.”

The idea for the development of an artificial island was first floated by Hong Kong leader Carrie Lam, who said in a policy address last year that it would help to ease the housing shortage.


Company: cnbc, Activity: cnbc, Date: 2019-03-20  Authors: chloe taylor, nikada, getty images
Keywords: news, cnbc, companies, hong, building, development, housing, fix, billion, 80, island, wong, artificial, kongs, land, shortage, help, kong


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Boeing shares rise on report 737 Max fix could come sooner than expected

Shares of Boeing rebounded Friday after a report that the plane manufacturer plans to roll out a software upgrade for its 737 Max aircraft in the coming weeks. The report from Agence France-Presse, citing sources, comes after the U.S. grounded all Boeing 737 Max jets this week. The software upgrade is expected to roll out in 10 days, according to AFP. Ethiopian Airlines Flight 302 crashed on Sunday, less than five months after the crash of Lion Air Boeing 737 Max 8 flight from Jakarta, Indonesia


Shares of Boeing rebounded Friday after a report that the plane manufacturer plans to roll out a software upgrade for its 737 Max aircraft in the coming weeks. The report from Agence France-Presse, citing sources, comes after the U.S. grounded all Boeing 737 Max jets this week. The software upgrade is expected to roll out in 10 days, according to AFP. Ethiopian Airlines Flight 302 crashed on Sunday, less than five months after the crash of Lion Air Boeing 737 Max 8 flight from Jakarta, Indonesia
Boeing shares rise on report 737 Max fix could come sooner than expected Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: kate rooney
Keywords: news, cnbc, companies, max, upgrade, boeing, airlines, report, months, shares, 737, week, software, stock, fix, come, sooner, rise, expected


Boeing shares rise on report 737 Max fix could come sooner than expected

Shares of Boeing rebounded Friday after a report that the plane manufacturer plans to roll out a software upgrade for its 737 Max aircraft in the coming weeks.

The report from Agence France-Presse, citing sources, comes after the U.S. grounded all Boeing 737 Max jets this week. The software upgrade is expected to roll out in 10 days, according to AFP. Still, the company told CNBC the overall timeline has not changed.

The Federal Aviation Administration followed the lead of dozens of other countries, citing links between two fatal crashes as grounds to cancel those flights. Boeing’s stock has tanked more than 10 percent this week in the aftermath.

Shares rose roughly 3 percent Friday afternoon following the report, its best day in more than a month. The stock is still having its worst week since early 2016.

A weeks-long turnaround would come much sooner than some on Wall Street had estimated. Bank of America predicted this week that it would take the aircraft manufacturer three to six months to “certify the fix.”

Ethiopian Airlines Flight 302 crashed on Sunday, less than five months after the crash of Lion Air Boeing 737 Max 8 flight from Jakarta, Indonesia, killing all 189 people on board. Both planes were new, delivered from Boeing just months before those flights.

Of the more than 350 Boeing 737 Max jets in global fleets, 74 are flown by U.S. airlines United Airlines, American Airlines and Southwest Airlines, according to the FAA.

— CNBC’s Leslie Josephs , Meghan Reeder and J.R. Reed contributed reporting.


Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: kate rooney
Keywords: news, cnbc, companies, max, upgrade, boeing, airlines, report, months, shares, 737, week, software, stock, fix, come, sooner, rise, expected


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If you invested $1,000 in Boeing 10 years ago, here’s how much you’d have now

Still, if you invested in Boeing 10 years ago, that decision would have paid off: According to CNBC calculations, a $1,000 investment in 2009 would be worth more than $14,000 as of March 15, 2019, a total return over 1,000 percent. Boeing paused delivery of 737 Max planes after the Ethiopia crash, which came less than five months after another deadly crash in Indonesia involving the same model. CNBC: Boeing stock as of Mar. In the meantime, Boeing said in a statement it will “continue to build 7


Still, if you invested in Boeing 10 years ago, that decision would have paid off: According to CNBC calculations, a $1,000 investment in 2009 would be worth more than $14,000 as of March 15, 2019, a total return over 1,000 percent. Boeing paused delivery of 737 Max planes after the Ethiopia crash, which came less than five months after another deadly crash in Indonesia involving the same model. CNBC: Boeing stock as of Mar. In the meantime, Boeing said in a statement it will “continue to build 7
If you invested $1,000 in Boeing 10 years ago, here’s how much you’d have now Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: shawn m carter, jason lee, daniel slim, afp, getty images
Keywords: news, cnbc, companies, heres, youd, invested, planes, months, fix, max, ago, 1000, company, 737, stock, crash, boeing


If you invested $1,000 in Boeing 10 years ago, here's how much you'd have now

Shares of aircraft-manufacturing company Boeing took a hit early this week, losing $26.6 billion in market value Monday and Tuesday, following a deadly crash of one of its 737 Max 8 airplanes in Ethiopia.

That model has since been grounded by the Federal Aviation Administration, as well as by aviation regulators around the world.

Still, if you invested in Boeing 10 years ago, that decision would have paid off: According to CNBC calculations, a $1,000 investment in 2009 would be worth more than $14,000 as of March 15, 2019, a total return over 1,000 percent. In the same time frame, the S&P 500 was up 270 percent. So, your $1,000 would be worth just over $3,700, by comparison.

Any individual stock can over- or under-perform, however, and past returns do not predict future results. Boeing paused delivery of 737 Max planes after the Ethiopia crash, which came less than five months after another deadly crash in Indonesia involving the same model.

This left several major airlines, including United, American and Southwest scrambling to rebook passengers and reassign planes. Those companies said they would waive ticket-change fees and fare differences for those affected by the FAA’s grounding order.

Flight-booking site Kayak even introduced a new search feature that allows users to exclude specific plane models, according to co-founder and chief executive officer Steve Hafner.

CNBC: Boeing stock as of Mar. 15, 2019

Fortunately for Boeing, while shares plunged more than 10 percent early this week, they ticked back up by as much as 3 percent Friday. And the company announced plans to roll out a software fix in the next few weeks.

Though, Bank of America analyst Ronald Epstein said Thursday that the fix could take a lot longer: “Once Boeing identifies the issue … the most likely scenario is the company will take about 3-6 months to come up with and certify the fix,” he said in a note.

Hafner says he expects the 737 models to be grounded only a few months and that travelers will likely be booking flights on them again soon: “They’re out of service on a temporary basis,” he said on CNBC’s “Squawk Alley.” “In reality, airlines are still planning on flying those planes in the summer. People want security and comfort when they fly.”

In the meantime, Boeing said in a statement it will “continue to build 737 Max airplanes, while assessing how the situation, including potential capacity constraints, will impact our production system.”

If you’re looking to get into investing, expert investors like Warren Buffett and Mark Cuban suggest you start with index funds, which hold every stock in an index, offer low turnover rates, attendant fees and tax bills. They also fluctuate with the market to eliminate the risk of picking individual stocks.

Here’s a snapshot of how the markets look now.

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Don’t miss: If you invested $1,000 in IBM 10 years ago, here’s how much you’d have now


Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: shawn m carter, jason lee, daniel slim, afp, getty images
Keywords: news, cnbc, companies, heres, youd, invested, planes, months, fix, max, ago, 1000, company, 737, stock, crash, boeing


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