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Air Freight and Logistics

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  • WASHINGTON, Jan 13- The U.S. Navy plans to buy V-22 tiltrotor aircraft built by Boeing Co and Textron Inc's Bell Helicopter unit to replace the older C-2A turboprop aircraft it now uses to ferry passengers and cargo to aircraft carriers, two people familiar with the issue said late Tuesday. The sources, who were not authorized to speak publicly, confirmed that top...

  • WASHINGTON, Jan 13- The U.S. Navy plans to buy V-22 tiltrotor aircraft built by Boeing Co and Textron Inc's Bell Helicopter unit to replace the older C-2A turboprop aircraft it now uses to ferry passengers and cargo to aircraft carriers, two people familiar with the issue said late Tuesday. The sources, who were not authorized to speak publicly, confirmed that top...

  • CAPE CANAVERAL, Fla., Jan 6- A SpaceX rocket launch from Florida was canceled because of a last-minute technical glitch on Tuesday, delaying a cargo run to the International Space Station and a pioneering attempt to fly the discarded booster back to Earth, officials said. But with less than two minutes left on the countdown clock, the launch from Cape Canaveral Air...

  • WASHINGTON, Dec 22- The Pentagon's internal watchdog on Monday questioned whether the U.S. government is paying United Technologies Corp too much to maintain the F117 engines that power Boeing Co's C-17 cargo plane, and it urged greater oversight. The Pentagon's inspector general faulted the Air Force for buying $1.54 billion worth of maintenance and repair...

  • The company has lagged the wider U.S. logistics market this year that boosted results of rivals such as C.H. Robinson Worldwide Inc, XPO Logistics Inc and Expeditors International of Washington Inc.. While shares of C.H. Robinson and XPO have jumped about 60 percent and 25 percent in the past year, UTi shares have dropped about 30 percent. Analysts on average were...

  • The decrease means Boeing will produce two fewer airplanes per year, Boeing said. The 747-8, a stretched and updated version of the two-deck, four-engine plane Boeing debuted in 1970, has attracted only 119 total orders since its 2005 launch, with 68 of those orders for cargo versions and the remainder for passenger jets, according to Boeing's website.

  • NEW YORK, Dec 9- Boeing Co said on Tuesday it will cut production of its iconic 747-8 jumbo jet to 1.3 planes per month from 1.5 per month, starting in September 2015. The planned decrease means Boeing will produce two fewer airplanes per year, Boeing said. The cut is being made "because the near-term recovery in the cargo market has not been as robust as expected," Boeing...

  • Dec 9- Logistics company UTi Worldwide Inc said Chief Executive Eric Kirchner had resigned and Edward Feitzinger would replace him, effective immediately. Kirchner joined UTi as CEO in January 2009 from parcel delivery company United Parcel Service Inc, where he led its freight forwarding business. The company denied last week a Bloomberg report saying it...

  • Deutsche Bahn to sue airlines over cargo cartel Sunday, 30 Nov 2014 | 9:46 AM ET

    The German magazine said Deutsche Bahn would submit the suit to the regional court in Cologne on Monday, seeking damages from 11 airlines including Lufthansa and British Airways. Deutsche Bahn already announced in August it was suing in the United States for the same price fixing. The airlines' cartel was first exposed seven years ago and triggered fines in the...

  • PALMDALE, Calif., Nov 21- Lockheed Martin Corp expects to reach an agreement next year with a launch customer for a giant new hybrid airship that would revolutionize the way oil and mining companies haul equipment to the Arctic and other remote areas without roads. The initial version of the airship, filled mostly with helium, would carry 20 tons of cargo, but could...

  • UPDATE 1-Hertz Global names John Tague as CEO Thursday, 20 Nov 2014 | 5:52 PM ET

    Nov 20- U.S. car rental company Hertz Global Holdings Inc named John Tague as chief executive, overlooking a candidate put forward by activist investor Jana Partners. Hertz had formed a search committee including two independent directors nominated by Icahn to find a replacement for Mark Frissora, who resigned in September. The Committee and the Board...

  • Nov 5- XPO Logistics Inc's quarterly revenue more than tripled, helped by acquisitions, an increase in freight volumes and tight capacity across U.S. truck and rail networks. XPO, which has been on an acquisition spree since Jacobs took over in 2011, said revenue from its freight brokerage business jumped about 240 percent to $518.7 million in the third quarter...

  • Chicago FAA fire ruled arson, ties up air traffic Friday, 26 Sep 2014 | 12:07 PM ET
    A flight board is seen at O'Hare Airport in Chicago, Illinois.

    A fire at an air traffic control center outside Chicago on Friday led to the cancellation of all flights at the city's two major airports.

  • Fire at Chicago FAA hub snarls air traffic: Report Friday, 26 Sep 2014 | 7:58 AM ET
    Passenger at the O'Hare International Airport, Chicago.

    A fire at a Federal Aviation Administration outpost in Chicago has spilled over into air traffic delays from O'Hare and Midway International airports.

  • MH370 search tender awarded to Dutch firm Tuesday, 5 Aug 2014 | 11:53 PM ET
    A crew member of a Royal New Zealand Airforce (RNZAF) P-3K2-Orion aircraft helps to look for objects during the search for missing Malaysia Airlines flight MH370 in flight over the Indian Ocean off the coast of Perth, Australia.

    Australia awarded a contract to Dutch firm Fugro to search the sea floor where missing Malaysia Airlines Flight MH370 is believed to have crashed.

  • UPS slashes forecast as it spends to boost capacity Tuesday, 29 Jul 2014 | 10:46 AM ET
    A UPS worker delivers packages in Chicago.

    UPS slashed its earnings forecast for the year as it spends to boost capacity ahead of the holiday shopping season.

  • UAE plans Mars mission in heated space race Thursday, 17 Jul 2014 | 6:34 AM ET

    Not content with building the world's tallest building, the UAE is setting its sight on something out of this world: Mars.

  • Electronic warfare: Middle East a growing threat Wednesday, 16 Jul 2014 | 10:41 AM ET
    Patriot missile

    Insurgents in the Middle East are becoming more sophisticated with the technology behind their weapons, defense experts told CNBC.

  • Small firms’ hopes soar on Amazon drone plan Wednesday, 16 Jul 2014 | 9:03 AM ET

    As the world's largest technology companies look at ways to use drones, small makers of unmanned aircraft are hoping to fly right behind them.

  • LATAM Airline set for World Cup ‘loss’: Chairman Tuesday, 15 Jul 2014 | 11:39 AM ET

    LATAM Airlines Group is set to make a loss during the World Cup period, the company’s chairman told CNBC.