The legacy carriers may have downsized at Boston Logan Airport, but it now seems clear that the departures simply created opportunities for competitors. …read more
Source: FULL ARTICLE at Forbes Latest
A Japan Airlines Boeing 787 that left Boston for Tokyo on Thursday returned to Boston “due to aircraft maintenance”, the company said on its website without elaborating.
Japan Airlines has one of the largest fleets of the Boeing 787 and has had several problems with the new-generation Dreamliner plane since it was allowed to resume flying after being grounded between January and April for serious battery problems.
The plane left from Boston at 12:57pm (1657 GMT) but returned to its airport of departure at around 6:00 pm.
“As a standard precautionary measure due to a maintenance message (fuel pump) indicator, JL007 bound for Tokyo-Narita decided to return to Boston Logan for check and landed safely,” Carol Anderson, a US-based JAL spokeswoman, told AFP in an email.
Boston Logan said on its Twitter site the 787 made “a precautionary return”.
“Flight has landed and is taxiing to gate,” it said.
JAL officials in Tokyo were not immediately available for comment.
Last week, another 787 used by Ethiopian Airlines caught fire at London’s Heathrow airport.
Japanese airlines Japan Airlines and ANA, which has the biggest fleet of the craft, have experienced around a dozen minor complaints with the 787 since it was allowed to resume flying after four months of being grounded.
After months of investigations, US authorities in April formally approved Boeing’s battery fix and Japanese regulators followed suit.
The battery supplier, Japan’s GS Yuasa, has voiced confidence that the system will never cause similar problems again.
Source: FULL ARTICLE at Fox World News
Shares of Boeing sank Friday after an empty 787 experienced a fire at Heathrow Airport.
An unspecified technical issue forced another 787 to turn back to Manchester Airport.
British police said the fire aboard an Ethiopian Airlines plane is being treated as unexplained.
The entire fleet of Boeing 787s was grounded in January for problems involving the plane’s lithium-ion batteries. One caught fire at Boston’s Logan airport.
The planes were cleared to resume flying in April after Boeing redesigned the battery system and got approval for the changes from global aviation regulators. Ethiopian was the first airline to resume using the 787.
Boeing shares fell $5.60, or 5.3 percent, to $101.25 in afternoon trading. The shares earlier dropped as low as $98.99.
Boeing spokesman Marc Birtel said in an email to The Associated Press that the company has personnel looking into the event at Heathrow.
Shares of Boeing suppliers also fell. Precision Castparts fell $3.49, or 1.5 percent, to $233.78. Spirit Aerosystems, which also makes parts for the 787, fell 48 cents, or 2.1 percent, to $22.65.
Citi analyst Jason Gursky said the cause of the fire may not be known until later Friday or over the weekend. So, the ultimate outcome for Boeing’s stock might wait until Monday. He said a fire related to the plane’s electrical system, even if it is not tied to the lithium-ion battery, would be a concern for investors.
“If the fire is related to a burned coffee pot or a mistake in the crew rest area.the stock should recover quickly to $106-$107,” Gursky wrote in a note to clients.
Source: FULL ARTICLE at Fox US News
By Alex Dumortier, CFA, The Motley Fool
Filed under: Investing
The S&P 500 declined by roughly a quarter of a percentage point today — its first loss of the month. However, the narrower, price-weighted Dow Jones Industrial Average did manage to extend its March winning streak — by a hair’s breadth — with a 0.02% gain. The Dow’s eight-day streak is the longest since February 2011. For a discussion of the potential significance of winning streaks, let me refer you to yesterday’s column.
Consistent with a decline in the broad market, the VIX , Wall Street‘s fear gauge, dropped 6% to close at 12.26. (The VIX is calculated from S&P 500 option prices and reflects investor expectations for stock market volatility over the coming 30 days.)
Boeing shares aren’t levitating
I have been marveling at the resilience in Dow component Boeing‘s share price since the beginning of the 787 Dreamliner crisis, which began with a fire at Boston’s Logan airport in early January. See for yourselves:
Boeing’s stock is actually beating the market — in a rallying market, no less! Let me remind you that regulators worldwide grounded the Dreamliner — Boeing’s “next generation” flagship aircraft — on safety concerns after a series of incidents that originated with the plane’s lithium-ion batteries.
Perhaps the share performance isn’t simply the product of rose-tinted glasses after all. This morning, the Irish Independent reported that low-cost airline Ryanair has placed a massive $18 billion order for 200 787s. According to the report, President Obama and the Irish prime minister, Enda Kenny, are set to confirm the order next week. On the back of this news, Boeing shares rose almost 1.5% today, to close at $84.16 — their highest closing value since November 2007. I continue to think Boeing and investors may be underestimating the delay in getting the 787 Dreamliner back in the air, but I have to give it to the market: The shares’ resilience no longer looks like luck … of the Irish.
With great opportunity comes great responsibility. For Boeing, which operates as a major player in a multitrillion-dollar market, the opportunity is absolutely massive. However, the company’s execution problems and emerging competitors have investors wondering whether Boeing will live up to its shareholder responsibilities. In this premium research report, two of the Fool’s best industrial minds have collaborated to provide investors with the key must-know issues around Boeing. They’ll be updating the report as key news hits, so make sure to claim a copy today by clicking here now.
var FoolAnalyticsData = FoolAnalyticsData || []; …read more
Source: FULL ARTICLE at DailyFinance
Boeing (BA) shipped 50 of its roughly half-a-million pound, $207 million retail-price 787 Dreamliners to airlines. But since January 16th, they’ve been grounded thanks to lithium-ion batteries that burned up at a much faster rate than expected. For example, there was a fire on board a parked plane at Boston’s Logan airport and an in-flight problem on another jet in Japan. …read more
Source: FULL ARTICLE at Forbes Latest
