Everyone was waiting for a catalyst to end the bull market—the downing of Flight MH17 plane may be it, says hedge-fund manager Todd Schoenberger.» Read More
After days of outrage over the handling of the Flight MH17 crash site in Ukraine, European ministers meet to discuss further sanctions against Russia.
July 21- Delta Air Lines Inc, trying to boost savings on manufacturing of jet fuel, said on Monday it reached a five-year agreement with a Dallas energy company for 65,000 daily barrels of U.S. crude oil to be supplied to its Pennsylvania refinery.
Malaysian Transport Minister Liow Tiong Lai flying to Ukraine to assist in investigation, believes plane had been shot down.
The journey of the 298 souls on board the ill-fated Flight MH17 was violently cut short at 30,000 feet above ground, victims of a war not their own. NBC reports.
The gains wiped out much of the market's losses from the day before, when the downing of a Malaysian Airlines passenger jet in eastern Ukraine stirred concerns that tensions between Russia and the West could escalate. Israel's launch of a ground offensive into Gaza also stoked geopolitical uncertainty.
The possibility that the civilian jetliner downed over war-torn eastern Ukraine with nearly 300 people onboard was hit by a missile could have profound consequences for the world's airlines. In the hours after Thursday's disaster involving a Malaysia Airlines jet, carriers around the globe began rerouting flights to avoid Ukraine.
Talking Squawk, the official "Squawk Box" blog, provides tidbits, insights, and some sarcastic reflections on the WEEK THAT WAS and the WEEK TO COME.
CHICAGO— The parent company of United Airlines says it will take charges of $169 million against second-quarter earnings to cover costs of grounding planes and other moves. United Continental Holdings Inc. said Thursday that it would report costs of $66 million to permanently ground 21 Embraer regional jets used by its United Express unit.
Ukrainian officials said a Malaysia Airlines passenger plane carrying 295 people was shot down, although both the government and pro- Russia separatists fighting in the region denied responsibility. The situation raised concerns of wider geopolitical instability in the region and an escalation of tensions between Russia and the West.
Expanding middle classes in Asia and emerging markets such as Latin America have boosted travel demand and helped airlines bounce back from losses since the 2008-2009 downturn.
DALLAS— United Airlines is defending the poisoning of birds at Houston's biggest airport, saying it was done for health and safety reasons. The bait manufacturer, Avitrol Corp., says a lethal dosage causes birds to show distress— including alarm cries and trembling— that frightens away other birds.
July 14- Embraer SA, the world's third largest commercial planemaker, booked its strongest commercial deliveries in two years and rebuilt its order book with a 50- jet deal on Monday, lifting shares to an all-time high.
It's easy to overestimate the Ex-Im Bank opposition, but the bank is likely to survive the latest conservative attacks, Politico's Ben White says.
CHICAGO— United Airlines is the latest carrier to say it will reduce flights to Venezuela over a dispute about money trapped by tight currency controls in the South American country. American Airlines Group Inc., Delta Air Lines Inc. and several foreign airlines have previously announced cutbacks.
NEW YORK, July 11- United Continental Holdings Inc said on Friday it would drop its daily flight to Caracas, Venezuela, from Houston, starting in September, joining other U.S. carriers who have cut service over the country's foreign exchange controls.
Increasing demand from low-cost airlines and booming airline travel in Asia – China in particular – drove Boeing to raise its forecast for new planes.
American, United and Southwest indicated that a key revenue figure was higher than in the same period last year, and American also raised its forecast for profit margin in the second quarter. Cowen and Co. analyst Helane Becker said the new margin forecast "provides further evidence that was a very strong quarter for the airlines."
July 9- American Airlines Group, Southwest Airlines and United Continental Holdings on Wednesday cited growth in an important revenue measure during the second quarter, signaling that demand for air travel is solid during the summer.
PARIS, July 9- Airbus is sprinting to line up preliminary orders for a revamped version of its A330 jet and is on stand-by to make an announcement as early as next week's Farnborough Airshow, but no decision has been taken, people familiar with the matter said.