Tim's Feed
Jun 12, 2014

Airbus takes flight with investors, media after order snub

NEW YORK/TOULOUSE (Reuters) – Europe’s Airbus (AIR.PA: Quote, Profile, Research, Stock Buzz) mounted a transatlantic charm offensive on Thursday to boost sales of the world’s biggest jetliner, the A380, and shine the spotlight on its brand-new A350 – a day after its shares were hit by a record order cancellation.

Airbus teamed up with the same airline that canceled 70 A350s on Wednesday, Dubai’s Emirates, and leasing company Amedeo to sell potential buyers on the merits of the A380 superjumbo.

Jun 11, 2014

Emirates cancels 70-plane A350 order in blow to Airbus, Rolls

TOULOUSE (Reuters) – Airbus suffered an unexpected reversal for its newest aircraft on Wednesday when Dubai’s Emirates scrapped a $16 billion (9.54 billion pounds) order for the A350, hitting shares in the European planemaker and engine firm Rolls-Royce.

The surprise decision by Airbus’s largest customer to cancel all 70 A350s on order comes months before the long-haul jet is due to enter service and removes 9 percent of the order backlog for a plane which took eight years and $15 billion to develop.

Jun 11, 2014

Emirates cancels order for 70 Airbus A350 planes

TOULOUSE, June 11 (Reuters) – Airbus lost a major
order on Wednesday when Dubai’s Emirates airline
cancelled its entire requirement for 70 A350 jets, dealing an
unexpected blow to the European planemaker and engine maker
Rolls-Royce.

Shares in Airbus fell more than 3 percent on the loss of
some 9 percent of the order book for its newest passenger jet,
which is now only months away from entering service after eight
years in development at a cost of some $15 billion.

Jun 10, 2014

Battle over Airbus A330 revamp may pressure jet prices

PARIS (Reuters) – The world’s top two planemakers are heading towards a showdown over the prices of their smaller twin-aisle airliners as Airbus (AIR.PA: Quote, Profile, Research, Stock Buzz) draws closer to a decision to revamp its 20-year-old A330 model.

    International airlines meeting last week in Doha witnessed an increase in the marketing rhetoric from the European planemaker and its U.S. rival Boeing (BA.N: Quote, Profile, Research, Stock Buzz), as a proposed revamp of Airbus’s 250 to 295-seat wide-body jet threatens to eat into demand for Boeing’s newer 787 Dreamliner.

Jun 7, 2014

Iran airline eyes fleet growth plans post-sanctions

DOHA (Reuters) – Iran Air will need at least 100 passenger jets once sanctions against the country are lifted and will find it easier to do business with companies that co-operated during the current window for sanctions relief, the head of the airline said.

However, in the absence of a long-term deal easing the country’s economic isolation, Iran’s flag carrier will turn instead to Russia and China as alternative suppliers, Farhad Parvaresh, chairman and managing director of Iran Air, said.

Jun 2, 2014

Bombardier ‘narrowing cause’ of engine hitch on new CSeries jet

DOHA, June 2 (Reuters) – Canada’s Bombardier has
narrowed its investigation of an engine failure on its new
CSeries shorthaul airliner to a few possible causes and hopes to
understand more later this week, the head of its aerospace
operations said on Monday.

The test aircraft suffered an “engine-related incident” on
its newly developed Pratt & Whitney turbofan engine
during stationary maintenance testing last Thursday.

Jun 1, 2014

100 years on, airlines hampered by history, IATA says

DOHA (Reuters) – On New Year’s Day, 1914, Abe Pheil squeezed into the open cockpit of a Benoist Type XIV boatplane in St. Petersburg, Florida, and became the world’s first airline passenger, flying 20 miles in 23 minutes for a specially auctioned fare of $400.

Last year three billion people followed in his footsteps.

But while the first century of paid flight has transformed the passenger experience from a bone-shaking wooden biplane to frills such as flat beds, for many investors it provides the same risk of getting wet as the original hop across Tampa Bay.

Jun 1, 2014

Boeing sees smooth jet switch, clashes with Airbus

DOHA, June 1 (Reuters) – Boeing vowed on Sunday to
carry out a smooth transition between current and future models
of its two most profitable jets – the long-haul 777 and smaller
737 – and dismissed Airbus plans to overhaul its own A330 model.

Sales chief John Wojick told Reuters he was confident of
selling enough of Boeing’s current long-distance benchmark, the
777-300ER, to fill the gap until a new revamped 777X version
enters service in 2020 and avoid any interim production cut.

May 27, 2014

Airbus completes overhaul, says major projects on track

AMSTERDAM, May 27 (Reuters) – Airbus Group
completed an overhaul of Europe’s largest aerospace group on
Tuesday by changing its name from EADS and reaffirming a pledge
to deliver on existing projects before embarking on risky new
ventures.

Shareholders adopted the name change to Airbus Group by a
99.99 percent margin, bringing the company’s legal title into
line with that of its planemaker subsidiary and ending what
Chief Executive Tom Enders called the “Babylonian confusion” of
several brands.

May 27, 2014

Airbus Group CEO keeping options open on new term

AMSTERDAM (Reuters) – Airbus Group (AIR.PA: Quote, Profile, Research, Stock Buzz) Chief Executive Tom Enders has ruled out taking another job in aerospace or going into politics when he eventually decides to step down from Europe’s largest aerospace group – but is not yet ready to say when that will be.

Speaking to Reuters ahead of a shareholders’ meeting, the 55-year-old chief executive said he would not begin to address whether to seek a second four-year term before next year.