Spirit Airlines has entered Chapter 11 bankruptcy with a preplanned filing that will enable it to continue normal operations while restructuring its debt. In an arrangement with lenders, Spirit will convert debt into equity in the restructured airline to provide…
Today’s news about Boeing includes a new board member, a new defense executive, and a large agenda for CEO Ortberg. Tim Buckley, the former CEO of Vanguard, will join Boeing’s board. At 55, he is younger than most of…
Wheels Up, the private jet membership and charter operator, has acquired a fleet of 17 Embraer Phenom 300 aircraft from Grand View Aviation. The company, which reported its third quarter results last month, dramatically restructured its memberships, eliminated the aircraft…
Today is a relatively quiet day in the news for Boeing. The company has begun its 10% staff cuts and the process of delivering “pink slips” to impacted employees began yesterday. The company plans to become more productive, with a…
Today’s key news centers about the continuing impacts of the IAM strike and the resumption of production as the company focuses on improving efficiency and cash flow. Aircraft production will take weeks to restart, impacting Boeing’s cash flow, with continuing…
Boeing news today centers on financing Spirit Aero, a new MAX order, two legal wins, and Southwest blaming late airplane deliveries for staffing cuts. The company has arranged an advance payment agreement with Spirit AeroSystems to keep the troubled…