Kelly Ortberg travel tips

Boeing’s new chief executive on Friday announced plans to reduce its work force by 10 percent, or about 17,000 jobs, as he seeks to restructure the company in an effort to slash costs and improve production of planes, which has been plagued by numerous delays.

Agreement has been reached in a bruising labor dispute between Boeing and its largest union. Late on Monday, it was announced that members of the International Association of Machinists and Aerospace Workers (IAM) had voted to accept the latest pay offer. It ends a hugely damaging 53-day walkout by staff that crippled production of Boeing’s best-selling planes. 

Ryanair warned Monday of a continued hit to passenger growth amid Boeing delivery delays. Europe’s biggest airline expects to carry 210 million passengers next year, down from the previous target of 215 million. It comes as the company reported a fall in first-half net profit of 18%, slightly below analyst forecasts. 

Singapore Airlines is betting big on the continued popularity of premium travel. On Monday, the airline announced an SG$1.1 billion ($835 million) project to overhaul a huge chunk of its long-haul fleet.

Boeing made another offer to its machinist union that includes a new raise as it looks to end the strike that began almost seven weeks ago. 

The month of October is usually about preparation in the world of aviation. Airlines usually spend the month getting ready for the winter holidays.

The Lufthansa Group painted a mixed picture on Tuesday as it reported its latest financial results. The German company said its earnings position “deteriorated significantly” in the first nine months of 2024 compared to a year earlier. This was despite record-breaking revenues and overall capacity growth. 

Good morning from Skift. It’s Thursday, October 24, 2024, and here’s what you need to know about the business of travel today. 

A major strike at Boeing will continue after union members rejected a revised deal. The IAM union announced on Wednesday night that 64% of mechanists turned down the offer.

Boeing CEO Kelly Ortberg said Wednesday he believes the plane maker can be “an aerospace leader again” as the company faces slew of issues with its aircraft programs and a machinist strike. 

Last week was an important one for Cathay Pacific. The Hong Kong carrier unveiled its new business class cabin, known as the ‘Aria Suite’. The product represents a significant leap forward in passenger comfort and design for some of the airline’s most lucrative customers – but the launch presented questions about future of first class.

Boeing’s machinist union announced Saturday that it reached a tentative agreement with the company, ending the month-long strike that halted production. 

It’s been a good year for United Airlines. 

Is it time for the Boeing Company to throw in the towel?

The Boeing Company announced Tuesday that it entered a $10 billion credit agreement. The deal with a consortium of major banks should help the troubled planemaker shore up its balance sheet. 

Boeing CEO Kelly Ortberg told employees Friday afternoon that the company would need to delay the launch of the 777X and lay off roughly 10% of its workforce as the machinist strike continues. 

Boeing’s already fragile airliner production chain is facing renewed jeopardy. Late on Thursday, workers overwhelmingly rejected a tentative deal agreed between union representatives and company management. More than 30,000 unionized staff in Washington and Oregon are now on strike.

Boeing said it had paused test flights of the 777-9, a large plane whose development had already been delayed by years, after discovering problems with a key part.

So, Boeing has a new leader.

Boeing named Kelly Ortberg, the former CEO of aerospace company Rockwell Collins, as its new president and CEO. He will succeed Dave Calhoun from August 8.

Boeing’s board named the plane maker’s next chief executive on Wednesday, putting Robert K. Ortberg, a veteran of the aerospace industry, in charge as the company tries to recover from a crisis prompted by a panel blowing away from a 737 Max plane in January.