Safety regulators issued an emergency order directing airlines to inspect and if necessary replace a critical engine part on popular Boeing 737 jets after four reports of engines shutting down during flights.
The Federal Aviation Administration said Friday that its order affected about 2,000 twin-engine passenger jets in the United States.
The FAA said operators must inspect any 737 that has been parked for at least seven days or been flown fewer than 11 times since being returned to service. That’s because of reports that certain engine valves can become stuck in the open position.
Corrosion of the valves on both engines could lead to a complete loss of power without the ability to restart the engines, forcing pilots to land somewhere other than an airport, the FAA said in the order, dated Thursday.
Chicago-based Boeing Co. said that with planes being stored or used less often during the coronavirus pandemic, “the valve can be more susceptible to corrosion.” The company said it is providing inspection and parts-replacement help to airplane owners.
Major airlines typically fly their planes several times a day. However, they parked hundreds of planes when the coronavirus pandemic triggered a collapse in air travel this spring and are bringing some of those planes back as passenger traffic has picked up slightly.
The FAA did not provide details about the four cases of engine shutdowns.
Alaska Airlines said one occurred on a July 15 flight from Seattle to Austin, Texas, and the plane landed without incident. Alaska said six of its planes need inspections, which have already begun.
American, United and Southwest said none of their planes had valve-related engine shutdowns. American said four of its planes needed inspections, which were completed and found no issues. United said it is inspecting 28 planes. Southwest was determining how many planes it needs to check.
Delta Air Lines said it would inspect 20 planes but did not say whether any of its planes suffered engine shutdowns.
The emergency order applies to versions of the 737 called the NG and Classic, the latter of which are no longer in production but remain in some airline fleets. The directive does not apply to the newer Boeing 737 Max, which has been grounded worldwide since March 2019 after two crashes that killed 346 people.
Passenger jets have two or more engines, and multiple engine failures of the type that FAA warned about in its order are rare. One example was the 2009 “Miracle on the Hudson,” in which US Airways pilots landed their plane on the Hudson River in New York after bird strikes knocked out both engines. All 155 people on board survived.
CALGARY – TC Energy Corp. has lowered the estimated cost of its Southeast Gateway pipeline project in Mexico.
It says it now expects the project to cost between US$3.9 billion and US$4.1 billion compared with its original estimate of US$4.5 billion.
The change came as the company reported a third-quarter profit attributable to common shareholders of C$1.46 billion or $1.40 per share compared with a loss of C$197 million or 19 cents per share in the same quarter last year.
Revenue for the quarter ended Sept. 30 totalled C$4.08 billion, up from C$3.94 billion in the third quarter of 2023.
TC Energy says its comparable earnings for its latest quarter amounted to C$1.03 per share compared with C$1.00 per share a year earlier.
The average analyst estimate had been for a profit of 95 cents per share, according to LSEG Data & Analytics.
This report by The Canadian Press was first published Nov. 7, 2024.
BCE Inc. reported a loss in its latest quarter as it recorded $2.11 billion in asset impairment charges, mainly related to Bell Media’s TV and radio properties.
The company says its net loss attributable to common shareholders amounted to $1.24 billion or $1.36 per share for the quarter ended Sept. 30 compared with a profit of $640 million or 70 cents per share a year earlier.
On an adjusted basis, BCE says it earned 75 cents per share in its latest quarter compared with an adjusted profit of 81 cents per share in the same quarter last year.
“Bell’s results for the third quarter demonstrate that we are disciplined in our pursuit of profitable growth in an intensely competitive environment,” BCE chief executive Mirko Bibic said in a statement.
“Our focus this quarter, and throughout 2024, has been to attract higher-margin subscribers and reduce costs to help offset short-term revenue impacts from sustained competitive pricing pressures, slow economic growth and a media advertising market that is in transition.”
Operating revenue for the quarter totalled $5.97 billion, down from $6.08 billion in its third quarter of 2023.
BCE also said it now expects its revenue for 2024 to fall about 1.5 per cent compared with earlier guidance for an increase of zero to four per cent.
The company says the change comes as it faces lower-than-anticipated wireless product revenue and sustained pressure on wireless prices.
BCE added 33,111 net postpaid mobile phone subscribers, down 76.8 per cent from the same period last year, which was the company’s second-best performance on the metric since 2010.
It says the drop was driven by higher customer churn — a measure of subscribers who cancelled their service — amid greater competitive activity and promotional offer intensity. BCE’s monthly churn rate for the category was 1.28 per cent, up from 1.1 per cent during its previous third quarter.
The company also saw 11.6 per cent fewer gross subscriber activations “due to more targeted promotional offers and mobile device discounting compared to last year.”
Bell’s wireless mobile phone average revenue per user was $58.26, down 3.4 per cent from $60.28 in the third quarter of the prior year.
This report by The Canadian Press was first published Nov. 7, 2024.
TORONTO – Canada Goose Holdings Inc. trimmed its financial guidance as it reported its second-quarter revenue fell compared with a year ago.
The luxury clothing company says revenue for the quarter ended Sept. 29 totalled $267.8 million, down from $281.1 million in the same quarter last year.
Net income attributable to shareholders amounted to $5.4 million or six cents per diluted share, up from $3.9 million or four cents per diluted share a year earlier.
On an adjusted basis, Canada Goose says it earned five cents per diluted share in its latest quarter compared with an adjusted profit of 16 cents per diluted share a year earlier.
In its outlook, Canada Goose says it now expects total revenue for its full financial year to show a low-single-digit percentage decrease to low-single-digit percentage increase compared with earlier guidance for a low-single-digit increase.
It also says it now expects its adjusted net income per diluted share to show a mid-single-digit percentage increase compared with earlier guidance for a percentage increase in the mid-teens.
This report by The Canadian Press was first published Nov. 7, 2024.
