Key Developments: Boeing Co (BA)

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12 Feb 2016
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Latest Key Developments (Source: Significant Developments)

Boeing Co to cut commercial airplane jobs to reduce costs - Reuters
Wednesday, 10 Feb 2016 04:29pm EST 

Boeing Co:Boeing Co said on Wednesday it will cut jobs at its commercial airplane unit as part of an ongoing effort to reduce costs. - RTRS.The company, the world's biggest aircraft maker, said it would begin making cuts with managers and executives in the unit, which is the biggest part of the company's operations.The extent of job reductions was not clear. "The overall employment impact will depend on how effectively we bring down costs as a whole," Boeing said.  Full Article

Boeing Co - UN agency seeks to end rift on new aircraft emission rules - Reuters
Sunday, 7 Feb 2016 07:12pm EST 

Boeing Co:Europe and the United States tried to bridge differences over emissions standards for aircraft on Sunday as global aviation leaders prepared to adopt new rules that could affect Boeing Co and Airbus Group's production of the largest jetliners and freighters - RTRS.Proposals being debated in Montreal by the International Civil Aviation Organization (ICAO), the UN's aviation agency, would force makers of the passenger jets to upgrade or stop producing certain models as early as 2023, according to sources close to the negotiations and documents seen by Reuters.U.S. and European negotiators are trying to come up with the world's first carbon dioxide emissions standards for aircraft as part of the industry's contribution to efforts to combat climate change - RTRS."The CO2 standard will push industry to be as fuel-efficient as possible in all market conditions to reduce GHG (greenhouse gas) emissions and the impact of aviation on climate change,” stated the Canadian paper presented at ICAO last week - RTRS.Participants have been weighing 10 different options for new targets, with one being the weakest and 10 requiring the greatest reduction in emissions, the documents seen by Reuters showed. - RTRS.Environmental groups said the standard will boost efficiency, but it will only make a small dent on the industry’s greenhouse gas emissions, which are projected to triple or quadruple from current levels by 2040 - RTRS.  Full Article

Boeing Co - U.S. Navy examining rise in health issues among F/A-18 pilots - Reuters
Thursday, 4 Feb 2016 01:34pm EST 

Boeing Co:The U.S. Navy is investigating a rise in health issues reported since 2009 by pilots of Boeing Co BA.N F/A-18 and EA-18G fighter jets that may be related to insufficient oxygen or other factors, a U.S. lawmaker said on Thursday - RTRS.Representative Michael Turner, chairman of the House Armed Services Subcommittee on Tactical Air and Land Forces, said pilots had to report any episodes in which they experienced "a loss in performance related to insufficient oxygen, depressurization or other factors present during flight." - RTRS.Turner said the Navy had set up a special team to investigate the incidents and determine the root cause, but it would be a complex process since symptoms related to depressurization, tissue hypoxia and contaminant intoxication often overlap. - RTRS.Manazir said there had been an increase in reporting of cases since 2010. - RTRS.In 2012, the Air Force announced that symptoms of oxygen deprivation experienced by some F-22 pilots were caused by the amount of oxygen delivered to pilots, not the quality of the air. - RTRS.That was after the Air Force stopped flying the F-22 for five months in 2011 because of the issue and put in place restrictions on how far they could fly and how high they could climb. - RTRS.  Full Article

Boeing Co gives FY 2016 guidance
Wednesday, 27 Jan 2016 07:30am EST 

Boeing Co:Expects FY 2016 Core EPS between $8.15 and $8.35.Expects FY 2016 GAAP EPS guidance between $8.45 and $8.65.Expects FY 2016 revenue between $93 and $95 billion.  Full Article

Boeing and SPEEA announce tentative agreement on new contract extension
Wednesday, 13 Jan 2016 05:25pm EST 

Boeing Co:Says company and the Society of Professional Engineering Employees in Aerospace (SPEEA) announced a tentative agreement on a new six-year contract extension, following several weeks of discussions.Under the tentative agreement, Boeing would continue to provide SPEEA-represented employees with above-market compensation for their skills.  Full Article

Air China and subsidiary to buy six B777-300ER model boeing aircrafts from Boeing
Thursday, 7 Jan 2016 07:00pm EST 

Air China Ltd:The company and wholly owned subsidiary to buy six B777-300ER model boeing aircrafts, from Boeing.Transaction price is about $2,051 mln.  Full Article

China Southern Airlines to buy 80 737s from Boeing
Thursday, 17 Dec 2015 07:00pm EST 

China Southern Airlines Co Ltd:Says has announced a commitment to buy 80 737s from Boeing.Says commitment includes combination of 30 next-generation 737s and 50 737 Max Airplanes, valued at $8.38 billion at current list prices.Says in agreement to sell 13 B757, 3 B733 and spare engines to Boeing.Says unit Xiamen Airlines signs agreement with Boeing to buy 30 B737MAX.  Full Article

Boeing Co - Australian tax office names in multinational avoidance row - Reuters
Wednesday, 16 Dec 2015 12:25pm EST 

Boeing Co:Australian tax authorities on Thursday took the unprecedented step of publishing the records of hundreds of companies, which show they paid little or no tax on their in-country earnings - RTRS.Of more than 1,500 largely foreign-owned companies which reported total earnings over A$100 mln ($72.11 mln) in the 2014 financial year, more than a third paid no tax, the Australian Taxation Office data showed. - RTRS.Australia has led efforts at the Group of 20 rich nations to close tax loopholes, but the ATO's move appears to have caught ministers off-guard - RTRS."Just because they don't pay tax doesn't mean that they are avoiding tax," Assistant Treasurer Kelly O'Dwyer told reporters, adding the government had strengthened the ATO's powers to ensure corporations paid their dues. - RTRS.Commissioner of Taxation Chris Jordan criticised certain foreign-owned companies for being "overly aggressive in the way they structure their operations". - RTRS."We will continue to challenge the more aggressive arrangements to show that we are resolute about ensuring companies are not unreasonably playing on the edge. - RTRS.The ATO has the powers to release such sensitive corporate information but has never done so until now.Among the offshore firms that paid no tax on their Australian earnings were Halliburton Co, Hilton Worldwide Holdings Inc, Boeing Co , BAE Systems Plc, SABMiller Plc SAB.L, Honda Motor and Ford Motor Co - RTRS.  Full Article

Boeing Co raises share repurchase authorization to $14 billion, increases dividend 20 percent
Monday, 14 Dec 2015 04:15pm EST 

Boeing Co:Board raises share repurchase authorization to $14 billion, increases dividend 20 percent.Says new $14 billion repurchase authorization replaces the $12 billion authorization approved last December.Says company's quarterly dividend will increase 20 percent to $1.09 per share.Declared that the company's quarterly dividend will increase 20 percent to $1.09 per share.Says repurchase activity is expected to resume in January 2016.Dividend declared today is payable March 4, 2016, to shareholders of record as of Feb. 12, 2016.  Full Article

Boeing Co - U.S. to propose safety fixes for certain Boeing, Embraer jets -WSJ - Reuters
Tuesday, 1 Dec 2015 01:56pm EST 

Boeing Co:U.S. aviation regulators are to propose on Monday mandatory inspections and, potentially, the replacement of suspect parts on nearly 1,600 jetliners to prevent serious flight failures, the Wall Street Journal reported - RTRS.The pair of proposed Federal Aviation Administration safety directives are related to certain Boeing Co. BA.N and Embraer SA EMBR3.SA jets and slated to be formally published Monday in the Federal Register, the Journal said in a report published on its website Saturday - RTRS.The directives are unusual because they are each intended to counter a single defect that can result in flight emergencies, the report said - RTRS.The FAA is moving to require U.S. operators of certain versions of the popular Boeing 737 model to check for possible corrosion of attachments for the horizontal stabilizer, part of the tail section - RTRS.Most essential systems on commercial jets have backups, so a single-point failure or malfunction cannot cause a crash, the Journal said - RTRS.But in the documents to be made public on Monday, the FAA says a single defective component type has the potential to immediately end safe flight. - RTRS.The agency is not, however, ordering immediate fixes, which means officials have determined the hazards are not imminent and do not require emergency action, the Journal added - RTRS.  Full Article

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Exclusive: Boeing nears decision to self-fund more F/A-18 fighters

WASHINGTON Boeing Co is nearing a decision to invest "a significant amount" to keep a F/A-18E/F fighter jet production line in St. Louis running as it waits for the U.S. government to approve a delayed order by Kuwait for 28 jets, a senior executive said.

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