Boeing 737 program chief to oversee commercial programs
The head of Boeing’s 737 program has been tapped to oversee the planemaker’s commercial programs as the company works to win approval to return the 737 MAX to service, which has been grounded for 13 months.
Boeing is sued for $336 million over canceled 737 MAX order
Boeing Co was sued for $336 million on Wednesday by a Kuwaiti leasing company that accused it of wrongly refusing to return advance payments on a now-canceled order for 40 of its troubled 737 MAX planes.
TechnipFMC cuts executive pay and dividend as pandemic fallout bites
Oil services company TechnipFMC said on Wednesday it would slash the salaries of executives and retainers paid to company directors by 30%, after cutting its dividend by 75% in search of savings to cushion the impact of the novel coronavirus outbreak….
Global air traffic could drop by up to 1.2 billion passengers: ICAO
International air passenger traffic could drop by as many as 1.2 billion travelers, or two-thirds, by September 2020, as the coronavirus pandemic weighs on demand, the United Nations aviation agency said on Wednesday in a statement, citing projections….
Coronavirus dampens Xilinx’s current-quarter revenue forecast
Xilinx Inc on Wednesday forecast first-quarter revenue below estimates and refrained from providing an annual outlook, citing the uncertainty caused by the coronavirus outbreak. The pandemic has ripped through the semiconductor industry, with lockdown orders interrupting operations and supply chains, even though many plants were eventually allowed to remain open. Xilinx shares, which closed 5% higher on Wednesday, shed most of those gains in extended trading.
Reeling Oklahoma oil producers win right to keep leases while wells shut
Oklahoma’s energy regulator said on Wednesday that oil producers could close wells without losing their leases, the first victory for struggling U.S. companies seeking relief from states after the market crash.
Xilinx forecasts current-quarter revenue below estimates
Xilinx Inc on Wednesday forecast first-quarter revenue below estimates and refrained from providing an annual outlook, citing the uncertainty caused by the coronavirus outbreak.
Las Vegas Sands posts first-quarter loss on coronavirus woes
Las Vegas Sands Corp posted a loss for the first quarter compared to a year-ago profit, as the coronavirus pandemic slammed gaming revenue at the casino operator.
CSX profit falls as coal, automotive declines weigh on results
U.S. railroad operator CSX Corp on Wednesday withdrew its financial forecasts and said it was evaluating future spending as business shutdowns because of the COVID-19 pandemic weigh on the U.S. economy.
U.S. House poised to pass more coronavirus aid, avoids remote voting wrangle
The U.S. House of Representatives expects to pass a nearly $500 billion coronavirus relief bill on Thursday but will put off any decision on changing its voting rules during the pandemic, avoiding a potential partisan fight.
