Will it ever fly?

[Guest]

Put me on this jury!

 

Washington (CNN Business)

An anonymous pilot is suing Boeing, alleging the company "demonstrated reckless indifference and conscious disregard for the flying public" in its development of the 737 Max.

The suit also accuses the Federal Aviation Administration of joining Boeing "in an unprecedented cover-up of the known design flaws of the Max, which predictably resulted in the crashes of two Max aircraft and subsequent grounding of all Max aircraft worldwide."

The FAA is not named as a defendant in the lawsuit, but aviation attorney Joseph Wheeler, one of the lawyers representing the unnamed plaintiff, told CNN he has begun the administrative procedure that "is a necessary procedural precondition to filing suit against the FAA."

Both Boeing spokesman Peter Pedraza and an FAA spokesman declined to comment on the matter. The lawsuit was filed on Friday in Cook County, Illinois, which is home to Boeing's Chicago headquarters.

[Max]

Put me on this jury!

 

Washington (CNN Business)

An anonymous pilot is suing Boeing, alleging the company "demonstrated reckless indifference and conscious disregard for the flying public" in its development of the 737 Max.

The suit also accuses the Federal Aviation Administration of joining Boeing "in an unprecedented cover-up of the known design flaws of the Max, which predictably resulted in the crashes of two Max aircraft and subsequent grounding of all Max aircraft worldwide."

The FAA is not named as a defendant in the lawsuit, but aviation attorney Joseph Wheeler, one of the lawyers representing the unnamed plaintiff, told CNN he has begun the administrative procedure that "is a necessary procedural precondition to filing suit against the FAA."

Both Boeing spokesman Peter Pedraza and an FAA spokesman declined to comment on the matter. The lawsuit was filed on Friday in Cook County, Illinois, which is home to Boeing's Chicago headquarters.

 

Cover up. Sounds like shareholder suits are next.

 

Can I count on you to short BA now?

[Guest]

Can I count on you to short BA now?

 

Yup.

 

• Boeing's employee parking lot is packed with grounded 737 Max jets,
  .
  
• Boeing has lost more than $1 billion throughout the 737 Max debacle, according to the company's most recent earnings report.
  
• And storing those planes is yet another hit to the embattled plane maker's bottom line. It costs some $2,000 a month per plane, Bloomberg reported.
  
• Visit Business Insider's homepage for more stories.
  

Boeing has struggled to manage its supply of 737 Max jets months after the fallout from two fatal crashes involving the planes in October and March.

 

And now Boeing has had to crowd its employee parking lots with some undelivered planes,

. Edited June 25, 2019 by Oaktown

[Max]

Yup.

 

And 400 pilots have filed a class action suit.

 

Go all in short!

 

You’ll make a killing and retire to a life of Airbus-transported luxury!

[Guest]

[MEDIA=twitter]1143985330951008257[/MEDIA]

[Max]

[MEDIA=twitter]1143985330951008257[/MEDIA]

 

Bet you're glad you bought the put options before the latest bad news!

[Guest]

Maxi, you'd think Boeing would do better with your namesake...

 

It remains the mystery at the heart of Boeing Co.’s 737 Max crisis: how a company renowned for meticulous design made seemingly basic software mistakes leading to a pair of deadly crashes. Longtime Boeing engineers say the effort was complicated by a push to outsource work to lower-paid contractors.

 

The Max software -- plagued by issues that could keep the planes grounded months longer after U.S. regulators this week revealed a new flaw -- was developed at a time Boeing was laying off experienced engineers and pressing suppliers to cut costs.

 

Increasingly, the iconic American planemaker and its subcontractors have relied on temporary workers making as little as $9 an hour to develop and test software, often from countries lacking a deep background in aerospace -- notably India.

 

https://www.bloomberg.com/news/articles/2019-06-28/boeing-s-737-max-software-outsourced-to-9-an-hour-engineers

[+ honcho]

Maxi, you'd think Boeing would do better with your namesake...

 

It remains the mystery at the heart of Boeing Co.’s 737 Max crisis: how a company renowned for meticulous design made seemingly basic software mistakes leading to a pair of deadly crashes. Longtime Boeing engineers say the effort was complicated by a push to outsource work to lower-paid contractors.

 

The Max software -- plagued by issues that could keep the planes grounded months longer after U.S. regulators this week revealed a new flaw -- was developed at a time Boeing was laying off experienced engineers and pressing suppliers to cut costs.

 

Increasingly, the iconic American planemaker and its subcontractors have relied on temporary workers making as little as $9 an hour to develop and test software, often from countries lacking a deep background in aerospace -- notably India.

 

https://www.bloomberg.com/news/articles/2019-06-28/boeing-s-737-max-software-outsourced-to-9-an-hour-engineers

 

Wow, just wow ... (there's no icon for that).

[Max]

Stock down again today. Short sellers unite!

 

Glanced back at the first post in this thread from just over a decade ago. On 06/24/09, BA closed at $42.37 and today at $354.00. Annualized 26% ROI.

 

I'll hold onto my prediction for a decade from now and wait this small storm out.

[Guest]

Boeing, still reeling from the two deadly 737 Max crashes, is setting aside $100 million to assist the families of victims and communities impacted by the accidents in October and March that killed 346 people.

 

That equals roughly $290k for each person killed. $100 million enough?

[Max]

Boeing, still reeling from the two deadly 737 Max crashes, is setting aside $100 million to assist the families of victims and communities impacted by the accidents in October and March that killed 346 people.

 

That equals roughly $290k for each person killed. $100 million enough?

 

Clearly won’t stop there. Between bad PR and direct costs, my guess is they’ll likely write down the program by somewhere between $0.5B and $2B. Take that with full shaker of salt however, I’m not a financial analyst.

 

Still peanuts compared to profit on 787 and loss Airbrush will have with A380. No to mention the thousands of 737s left to be sold after this fiasco fades in memory.

[Guest]

Clearly won’t stop there.

 

And stop it won't Maxi, 'Airbrush' just got a $5.5 billion order:

 

By

Robert Wall / WSJ

July 7, 2019 1:34 pm ET

 

Boeing Co. Sunday lost a deal for 737 MAX jetliners in one of the first tangible signs the crisis around the plane could shift business to European rival Airbus EADSY -1.30% SE.

Saudi Arabia’s flyadeal Sunday said it would buy up to 50 Airbus A320neo planes, the direct rival to Boeing’s MAX that has been idled globally in the wake of two crashes within less than five months.

The deal between the discount arm of flag carrier Saudi Arabian Airlines Corp., or Saudia, has a value of more than $5.5 billion, based on Airbus list prices that don’t include industry-standard discounts.

 

 

 

Read up on the system and changes made. It ain’t brain surgery and the logic changes will solve the problem.

10MAY2019

 

And when is your namesake gonna fly again Maxi?

 

 

Update:

 

“If this plane doesn’t start flying again before Christmas, it could start to get very ugly for Boeing in terms of order cancellations,” one aviation expert said.

 

https://www.nbcnews.com/business/business-news/saudi-airline-cancels-6b-boeing-order-favor-airbus-who-s-n1027441

Edited July 8, 2019 by Oaktown

[mike carey]

More 'it's about to stop flying' than 'will it ever fly', Qantas is retiring its B747 fleet next year and as part of its publicity for that it's scheduled flying the aircraft on domestic routes over summer (November to February)

 

https://www.qantasnewsroom.com.au/uncategorized/boeing-747-domestic-services/

 

My guess is that the flights will sell out (discount economy seats are currently twice the price of those on any other flights on one flight I checked). I suspect it's something that will have nostalgic appeal to a lot of people. Qantas had used them on Sydney to Perth flights years ago but not since the A330 became the mainstay on that route.

 

Another gimmick Qantas has deployed is two dedicated frequent flyer award flights to/from Japan. The Melbourne to Narita flight in October on an A380 has sold out all the premium cabin seats. So it's succeeded in taking a lot of FF points off the contingent liabilities ledger.

[Guest]

Maxi, what were you saying about "Airbrush"?

 

Wall Street Journal

Doug Cameron and

Robert Wall

Updated July 9, 2019 7:16 pm ET

 

Boeing Co. BA -0.37% is poised to lose its place as the world’s largest plane maker to AirbusEADSY 1.58% SE after a reign of seven years, as its jetliner deliveries fell by more than a third in the first half of 2019 with the grounding of its 737 MAX aircraft.

The U.S. aerospace giant’s best-selling MAX has been barred by safety regulators from flying passengers for almost four months, far longer than Boeing, its investors and airlines expected. Consumers have expressed misgivings about getting on the plane again, and a dearth of new sales to carriers has helped drain about $50 billion from Boeing’s market value since it peaked in March.

The company’s delivery slump has reverberated across an aerospace industry that had been enjoying an unprecedented decadelong boom. Some suppliers have been forced to trim output and idle staff, while airlines have had to cancel thousands of flights and seek compensation from the plane maker.

[Guest]

Well well well, the only American based airline without a Max in their line-up is doing quite well:

 

Wall St. Journal

Alison Sider

Updated July 11, 2019 8:27 am ET

 

Delta Air Lines Inc. raised its profit outlook for this year, as strong travel demand and the diminished capacity of competitors with grounded Boeing Co. 737 MAX jets buoyed the third-biggest U.S. carrier.

The first major U.S. airline to report earnings for the recently ended quarter said revenue rose 8.7% from a year ago to a record $12.5 billion. Unit revenue, a closely watched measure of how much airlines earn for each seat flown a mile, rose 3.8%.

[bigvalboy]

What a mess....

 

https://www.yahoo.com/finance/news/american-airlines-extends-boeing-737-140728693.html

 

American Airlines extends Boeing 737 MAX cancellations for fourth time

 

American Airlines Group Inc said on Sunday it is extending for a fourth time cancellations of about 115 daily flights into early November due to the ongoing grounding of the Boeing Co 737 MAX jets.

 

The airline's decision was expected after the Federal Aviation Administration, which must re-approve the jets for flight following two fatal crashes, last month uncovered a new flaw that Boeing estimates will take until at least September to fix.

[Guest]

An aircraft design should allow hands-off horizontal flight, i.e., center of gravity should align with the center of lift. This is violated for the 737Max because the new engines would not fit properly under the wing due to the relatively short landing gear (designed for the smaller engines) so the engines were moved forward enough to require constant deployment of control surfaces. This is a inherent design flaw, for which there is no fix.

[Guest]

[MEDIA=twitter]1150602370104975360[/MEDIA]

[Guest]

More great news on the 737MAX, a $1 Billion / month just in penalties.

Holy feces Maxi!

 

[Guest]

Willie Walsh bet around $15B this week that the plane will return safely to the skies, and that IAG can make money flying them.

 

Holy feces Maxi, a $10-24 Billion hit!

 

Edit 25JULY19: The odds of Boeing’s second-quarter charges being merely a starting point for the financial toll of the Max crisis are high.

 

Boeing shares slid Monday after Fitch Ratings turned negative on the maker of the 737 Max, the manufacturer’s best selling plane that has been grounded since March after two fatal crashes.

 

Boeing’s stock was down 1.2% in morning trading, keeping a lid on the Dow Jones Industrials’ gains for the day.

 

Boeing last week told investors it would take a $4.9 billion charge in the second quarter to compensate airlines affected by the worldwide grounding, now in its fifth month.

Fitch upheld Boeing’s credit rating but warned that its debt could rise by $10 billion to more than $24 billion by the end of the year because of the Max grounding. It added that this amount would fall when deliveries of the planes resume.

 

https://www.cnbc.com/2019/07/22/boeing-slides-after-fitch-turns-negative-on-maker-of-grounded-737-max.html

Edited July 26, 2019 by Oaktown

[Guest]

After reading this BusinessInsider piece, the 737Max will never fly again. If it does, it will be in the US only, and because of lobbies and corruption and MAGA. The European Union Aviation Safety Agency will not approve Max simply because it is a flawed design. Relying on a software to fix this issue was dumb to begin with...

 

https://www.businessinsider.com/boeing-737-max-flight-system-faa-oversight-2019-7

[Guest]

The Max Crisis gets worse by the day. A bunch of people need to go to jail.

This plane should become a very large and heavy paperweight.

 

Arlington, Va. — Federal Aviation Administration officials Wednesday tried to defend the decisions they made after a 737 Max jet crashed in Indonesia last year. But in a Senate hearing, it was revealed they predicted a second malfunction was likely. Sadly, they were right, and the Max has been grounded ever since the deadly Ethiopian Airlines crash in March.

Senators demanded to know why the FAA didn't do more after the first 737 Max crash last October. They pointed to internal FAA analysis, done just days after the crash, predicting another emergency incident was likely within the next 10 months, due to the plane's troubled anti-stall system, known as MCAS.

Instead of grounding the plane, the FAA sent an emergency order requiring pilots review existing procedures while Boeing fixed the MCAS system. But five months later, the second 737 Max crashed.

FAA executives acknowledged, in hindsight, their guidance to pilots was insufficient.

"We should have included more description in the computer based training in order to explain what MCAS is," said Ali Bahrami, the FAA's head of safety.

Senators also wanted to know whether Boeing cut corners to rush the Max to market.

"We expect you to basically be the person or entity that stands up and says this aircraft is completely safe to fly. That does not appear to be the case in this situation," said Sen. Jack Reed.

The FAA officials told senators not every decision was perfect, but they said they stand behind the certification of the Max. Boeing's biggest rival, Airbus, announced revenues jumped 72% last quarter. Boeing's dropped 35%.

 

https://www.cbsnews.com/news/faa-knew-another-boeing-737-max-malfunction-was-likely-after-lion-air-crash/

Edited August 1, 2019 by Oaktown

[Max]

Maxi, what were you saying about "Airbrush"?

 

My mistake.

 

The A380 may fly forever!

 

Just not with Qatar, British Airways, Singapore, Lufthansa, Etihad or Qantas. Or the major airlines who never purchased the behemoth in the first place including American, Delta, United, Japan Airlines, and others.

 

Holy feces Maxi, a $10-24 Billion hit!

 

I’d anticipate closer to $30B to include intangiable losses, but you may be correct and may be less.

 

The Max Crisis gets worse by the day. A bunch of people need to go to jail. This plane should become a very large and heavy paperweight.

 

You can whine like a bitch.

 

Or short the stock.

 

Even better, do both!

 

Please!

Edited August 2, 2019 by Max

[Guest]

Darling Maxi, I did short! Heck, BA went down nearly 7% just today.

 

Market Summary > Boeing Co

NYSE: BA

334.29 USD −6.89 (2.02%)

Closed: Aug 1, 7:59 PM EDT

After hours 334.00 −0.29 (0.087%)

[Max]

Darling Maxi, I did short! Heck, BA went down nearly 7% just today.

 

Market Summary > Boeing Co

NYSE: BA

334.29 USD −6.89 (2.02%)

Closed: Aug 1, 7:59 PM EDT

After hours 334.00 −0.29 (0.087%)

 

Where did you find a market for a one-day short trade?

 

And you apparently cannot read...the $6.89 drop is just 2.02%.

 

Foul smell when you post...maybe bullshit?

Edited August 2, 2019 by Max