adplus-dvertising
Connect with us

Business

Boeing finds new problem with 787 that will delay deliveries – Business News – Castanet.net

Published

 on


Boeing has recorded its first orders of the year for the grounded 737 Max, but a new flaw has surfaced in another of its planes, compounding the company’s struggle to recover during a pandemic that has undercut demand for new jetliners.

Boeing said Tuesday it is inspecting part of the tail of the two-aisle 787 after finding that pieces were clamped together too tightly, which could lead to premature fatigue of a part called the horizontal stabilizer.

The company said it believes the problem affects 893 of the nearly 1,000 787s that have been built. Boeing expects the inspections of recently finished planes to affect the timing of 787 deliveries in the near term, spokesman Peter Pedraza said in a statement.

The Federal Aviation Administration said it is investigating the matter.

“It is too early to speculate about the nature or extent of any proposed Airworthiness Directives that might arise from the agency’s investigation,” said the spokesman, Lynn Lunsford, referring to potential safety orders that could be imposed on Boeing.

Boeing disclosed last month that it found two other manufacturing flaws in the 787, which Boeing calls the Dreamliner and is built largely of carbon composite materials. The company grounded eight planes because of those issues.

The company said Tuesday that during production of the tail horizontal stabilizers at a Boeing plant in Salt Lake City, some parts were clamped together with too much force, resulting in improper gaps between sections. Boeing doesn’t believe it is an immediate safety issue but could lead to premature aging of the parts, and it is delaying some 787 deliveries while determining whether repairs are needed on planes that have already been delivered.

The Chicago-based company, which builds planes in Washington state and South Carolina, said it delivered 13 airliners last month, including four 787s.

It is a popular plane among airlines for international routes. Cowen analyst Cai von Rumohr expected Boeing to deliver 13 787s. He said airlines are pushing back deliveries because international travel is so depressed.

Boeing’s slow pace of deliveries since early 2019, when the Max was grounded, has robbed the company of much-needed cash.

Amid the bad news around the 787, Boeing reported Tuesday that it received orders for five Max jets in August, two by Polish charter airline Enter Air and three by a buyer that Boeing did not identify. It also reported selling three 777 cargo freighters.

However, cancellations continue to outpace new orders, and Boeing has removed other sales from its backlog because the financial health of the airline customer makes the orders uncertain.

So far this year, Boeing has lost 932 more orders than it has gained. The pandemic has undermined air travel, leading to fewer flights and leaving airlines with no need for new planes.

Boeing is still working with U.S. and foreign regulators to clear the Max for return to flying after two deadly crashes. Nearly 400 Max jets were in use when the fleet was grounded worldwide in March 2019 after crashes in Indonesia and Ethiopia killed 346 people. The Max was Boeing’s bestselling plane.

Boeing dispatched a Max to Vancouver on Tuesday for flight tests this week with European regulators. The company has already conducted several test flights with FAA experts to demonstrate changes that Boeing made to computers and software after an automated system pushed down the noses of planes before they crashed.

Boeing shares fell 5.8% in Tuesday trading.

Let’s block ads! (Why?)

728x90x4

Source link

Business

Netflix’s subscriber growth slows as gains from password-sharing crackdown subside

Published

 on

 

Netflix on Thursday reported that its subscriber growth slowed dramatically during the summer, a sign the huge gains from the video-streaming service’s crackdown on freeloading viewers is tapering off.

The 5.1 million subscribers that Netflix added during the July-September period represented a 42% decline from the total gained during the same time last year. Even so, the company’s revenue and profit rose at a faster pace than analysts had projected, according to FactSet Research.

Netflix ended September with 282.7 million worldwide subscribers — far more than any other streaming service.

The Los Gatos, California, company earned $2.36 billion, or $5.40 per share, a 41% increase from the same time last year. Revenue climbed 15% from a year ago to $9.82 billion. Netflix management predicted the company’s revenue will rise at the same 15% year-over-year pace during the October-December period, slightly than better than analysts have been expecting.

The strong financial performance in the past quarter coupled with the upbeat forecast eclipsed any worries about slowing subscriber growth. Netflix’s stock price surged nearly 4% in extended trading after the numbers came out, building upon a more than 40% increase in the company’s shares so far this year.

The past quarter’s subscriber gains were the lowest posted in any three-month period since the beginning of last year. That drop-off indicates Netflix is shifting to a new phase after reaping the benefits from a ban on the once-rampant practice of sharing account passwords that enabled an estimated 100 million people watch its popular service without paying for it.

The crackdown, triggered by a rare loss of subscribers coming out of the pandemic in 2022, helped Netflix add 57 million subscribers from June 2022 through this June — an average of more than 7 million per quarter, while many of its industry rivals have been struggling as households curbed their discretionary spending.

Netflix’s gains also were propelled by a low-priced version of its service that included commercials for the first time in its history. The company still is only getting a small fraction of its revenue from the 2-year-old advertising push, but Netflix is intensifying its focus on that segment of its business to help boost its profits.

In a letter to shareholder, Netflix reiterated previous cautionary notes about its expansion into advertising, though the low-priced option including commercials has become its fastest growing segment.

“We have much more work to do improving our offering for advertisers, which will be a priority over the next few years,” Netflix management wrote in the letter.

As part of its evolution, Netflix has been increasingly supplementing its lineup of scripted TV series and movies with live programming, such as a Labor Day spectacle featuring renowned glutton Joey Chestnut setting a world record for gorging on hot dogs in a showdown with his longtime nemesis Takeru Kobayashi.

Netflix will be trying to attract more viewer during the current quarter with a Nov. 15 fight pitting former heavyweight champion Mike Tyson against Jake Paul, a YouTube sensation turned boxer, and two National Football League games on Christmas Day.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Business

All Magic Spells (TM) : Top Converting Magic Spell eCommerce Store

Published

 on

Product Name: All Magic Spells (TM) : Top Converting Magic Spell eCommerce Store

Click here to get All Magic Spells (TM) : Top Converting Magic Spell eCommerce Store at discounted price while it’s still available…

All orders are protected by SSL encryption – the highest industry standard for online security from trusted vendors.

All Magic Spells (TM) : Top Converting Magic Spell eCommerce Store is backed with a 60 Day No Questions Asked Money Back Guarantee. If within the first 60 days of receipt you are not satisfied with Wake Up Lean™, you can request a refund by sending an email to the address given inside the product and we will immediately refund your entire purchase price, with no questions asked.

(more…)

Continue Reading

Business

CPC Practice Exam

Published

 on

Product Name: CPC Practice Exam

Click here to get CPC Practice Exam at discounted price while it’s still available…

All orders are protected by SSL encryption – the highest industry standard for online security from trusted vendors.

CPC Practice Exam is backed with a 60 Day No Questions Asked Money Back Guarantee. If within the first 60 days of receipt you are not satisfied with Wake Up Lean™, you can request a refund by sending an email to the address given inside the product and we will immediately refund your entire purchase price, with no questions asked.

(more…)

Continue Reading

Trending