|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||121.66 - 123.74|
|52 Week Range||77.50 - 133.86|
|Beta (3Y Monthly)||1.39|
|PE Ratio (TTM)||25.58|
|Earnings Date||Oct 30, 2019|
|Forward Dividend & Yield||1.65 (1.35%)|
|1y Target Est||120.82|
Jul.31 -- Frederic Gagey, chief financial officer at Air France-KLM, discusses second-quarter results and upcoming changes to the airline's fleet. He speaks on "Bloomberg Markets."
Avianca Holdings S.A. (NYSE: AVH) provided an update on its financial condition during its second quarter 2019 earnings report. The Colombian airline is in the middle of a major restructuring dubbed "Avianca 2021." The debt-laden airline's transformation strategy is centered on gaining density in its most profitable routes and lowering its debt burden.
Sigma Labs, Inc. (SGLB) (“Sigma Labs” or the “Company”), a leading provider of quality assurance software to the commercial 3D printing industry, has released a letter to its shareholders from John Rice, Chairman and CEO. The purpose of this letter is to brief you on Sigma Labs' 2019 operational milestones as we cross over the half-way point for the year. In conjunction with a return to quarterly financial and operational updates, I wanted to provide our loyal shareholders with my perspective from the CEO post on the company’s four main principal areas in 2019.
Problems with 737 MAX planes have continued to impact Boeing’s commercial aircraft deliveries. Its commercial aircraft shipments plunged in July.
The Boeing 737 Max marked another month with no orders, as overall deliveries continue to lag behind those of rival Airbus.
Deliveries totaled 258 aircraft in the seven months through July, compared to 417 last year, and trailing far behind the 458 aircraft handed over in the same period by European rival Airbus SE. The numbers put Boeing on course to lose the crown of world's biggest planemaker, which it has held uninterrupted for seven years. The 737 MAX has been grounded worldwide following two fatal accidents that killed more than 300 people and both Boeing and airlines continue to extend the timelines for when it will return to service.
Boeing Co delivered 38% fewer planes in the first seven months of 2019 than the same period a year earlier, as the grounding and doubts around the future of its best-selling 737 MAX jets hurt operations. Deliveries totaled 258 aircraft in the seven months through July, compared to 417 last year, and trailing far behind the 458 aircraft handed over in the same period by European rival Airbus SE. The numbers put Boeing on course to lose the crown of world's biggest planemaker, which it has held uninterrupted for seven years.
(Bloomberg) -- Indonesia’s anti-corruption agency detained Emirsyah Satar, the former head of PT Garuda Indonesia, as part of a long-running probe into suspected corruption involving the procurement of aircraft and engines.Satar is suspected of money laundering and will be held for 20 days, the agency said in a statement. It also detained an Indonesian businessman for the same suspected violation.Satar was given cash and other gifts by the man, who received commissions from manufacturers, the agency alleged. While acknowledging that he received money, Satar denies any money-laundering allegations as he thought the funds were merely a form of gratitude, his lawyer Luhut Pangaribuan said.“After the investigation started, he realized that as a state employee he should not have received anything, so he returned the money,” Pangaribuan said in a text message.The probe relates to Garuda’s procurement of Airbus SE A330 and A320 jets, ATR 72-600 turboprops, Bombardier Inc. CRJ 1000 regional aircraft and Rolls-Royce Holdings Plc engines when Satar led the state-owned airline, according to the anti-corruption agency. The organization is known in Indonesia as KPK, short for Komisi Pemberantasan Korupsi.Satar has been credited by analysts for helping to revive the carrier when he was CEO and president director from 2005 through 2014.Indonesia Names Ex-Garuda CEO as Suspect in Corruption Case (2)KPK said it has confiscated a house in Jakarta, while authorities in Singapore seized an apartment and blocked various bank accounts of Satar in the city state. The Indonesian agency also suspects the involvement of several foreign manufacturers in the case and said it is open to cooperation with various authorities abroad.KPK spokesman Febri Diansyah didn’t reply to text messages asking if Airbus, Rolls-Royce, Bombardier and ATR are being investigated. Calls to his mobile phone weren’t answered.A spokesman for Airbus said the company is unable to comment on pending investigations. A Rolls-Royce spokesman said: “We note the announcement from KPK about legal proceedings, in which we are not involved, against a number of individuals and will not be commenting further.”A representative for ATR, short for Avions de Transport Régional, had no immediate comment, while spokespeople for Bombardier couldn’t be reached.(Adds responses from manufacturers starting in the ninth paragraph.)\--With assistance from Christopher Jasper and Benjamin Katz.To contact the reporters on this story: Harry Suhartono in Jakarta at firstname.lastname@example.org;Tassia Sipahutar in Jakarta at email@example.comTo contact the editors responsible for this story: Young-Sam Cho at firstname.lastname@example.org, Ville Heiskanen, Angus WhitleyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- OneWeb said it’s secured vital rights to the airwaves it needs to launch a global satellite broadband network.The startup backed by Softbank Corp. is racing against billionaires Elon Musk and Jeff Bezos to install constellations of small satellites so they can offer 4G-like broadband to places that are too costly to reach using terrestrial networks.By getting six of the washing machine-sized satellites broadcasting at the right frequencies for 90 days, OneWeb has met ‘use-it-or-lose-it’ spectrum conditions set by the United Nations’ International Telecommunication Union, the company said by email.Musk’s Space Exploration Technologies Corp. and Bezos’s Project Kuiper are likely to need the same spectrum. OneWeb says that being the first to file its claim and have it validated will mean signals from other operators must not interfere with its own, under rules that oblige latecomers to preserve the quality of services offered by an incumbent.“That could mean a longer road to the finish line for others than it is for us,” said Ruth Pritchard-Kelly, OneWeb’s vice president of regulation.U.K. communications watchdog Ofcom will now ask the ITU to register OneWeb’s priority claim on the bandwidth.An ITU spokeswoman said the Geneva-based body had not yet received frequency claims for the OneWeb or SpaceX projects.OneWeb has raised $3.4 billion from shareholders including Softbank, Airbus SE, Richard Branson’s Virgin Corp. and Qualcomm Inc. and plans to launch about 30 of the satellites per month from December to create an initial constellation of 648. Because they are thousands of kilometers closer to Earth than traditional models, they promise much lower transmission delays than existing satellite broadband services.Musk’s SpaceX is also moving fast, sending dozens of satellites into orbit for its Starlink project and preparing for more launches this year after winning U.S. government approval for about 12,000 satellites. Project Kuiper is yet to launch any of its satellites.To contact the reporter on this story: Thomas Seal in London at email@example.comTo contact the editors responsible for this story: Rebecca Penty at firstname.lastname@example.org, Thomas Pfeiffer, Jennifer RyanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Airbus' inability to build and deliver jets on time -- especially the A321neo -- has prevented it from fully capitalizing on the Boeing 737 MAX grounding.
PARIS/MUNICH (Reuters) - Airbus is poised to open a new assembly line for the A321neo in Toulouse, France, easing a grip on production of the hot-selling jetliner enjoyed by workers in Germany and accelerating an industrial rethink caused by the demise of the much larger A380. A formal decision on how to meet record demand for the medium-haul A321 has not been taken and operations in China and the United States are also being considered as part of an A321 study that Airbus says it will complete this year.
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Rolls-Royce Holdings Plc’s cash outflow ballooned in the first half as a bottleneck in plane deliveries at Airbus SE and Boeing Co. reduced engine revenue and stockpiling for a no-deal Brexit led to a build up of parts.Europe’s biggest jet-engine maker posted negative underlying free cash flow of 429 million pounds ($522 million) for the six months, almost six times the level of a year earlier. The shares fell as much as 2.3%.Rolls currently has about 50 turbines awaiting delivery, compared with the usual 15 or so. Chief Executive Officer Warren East predicted “significant improvements” in the second half and said the company should reach its full-year cash goal as the inventory build up unwinds.Rolls earnings show the ripple effects on suppliers as planemakers grapple with their highest-ever order backlogs amid a surge in air travel. Production setbacks spanning poor-quality seats to engine glitches have held back output, forcing Airbus and Boeing to keep plants operating over the Christmas holidays last year in order to meet delivery targets.787 ChargeThe U.K. company was hit with its own manufacturing issues when faults were found in engines powering the Boeing 787 model. East announced a further charge for repairs to the jet, and another for Airbus’s early termination of the A380 superjumbo, as well as higher restructuring costs. He cited a near one-third jump in operating profit on higher margins on A350 turbines and gains at defense and power-systems arms as indicating a healthy underlying business.The power unit, which makes marine, land and industrial engines and power-generation products, accounted for about half of the inventory build up. The company has spent close to 100 million pounds to smooth its supply chain in the event of a no-deal Brexit, including additional shipping capacity and extra warehouse space in the U.K. and mainland Europe, as well as stockpiling parts.Across the group, the value of inventory held should decrease by 500 million pounds through the second half, aided by reduced 787 groundings, Rolls-Royce forecasts. The company is targeting full-year free cash flow of 700 million pounds, plus or minus 100 million pounds.Shares of Rolls, which doesn’t make engines for Boeing’s grounded 737 Max, were trading 0.8% lower at 807.80 pence as of 9:40 a.m. in London, taking the stock’s decline this year to 2% and valuing the group at 15.5 billion pounds.Earnings Highlights:(Updates with planemaker delivery issues in fourth paragraph, predicted inventory rundown in seventh.)To contact the reporter on this story: Benjamin Katz in London at email@example.comTo contact the editors responsible for this story: Tara Patel at firstname.lastname@example.org, Christopher JasperFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg Opinion) -- Even after a relationship is dead, couples often go through the motions of remaining in a marriage. That’s the best way to characterize what’s left of the alliance between Renault SA and Nissan Motor Co. Renault must sell down its 43.4% stake in its Japanese partner to 5%-10% and both sides should “invest in new ventures,” Nissan’s Senior Vice President Hari Nada wrote in an e-mail to colleagues, saying this was the view of independent director Masakazu Toyoda, the Wall Street Journal reported at the weekend. In Toyoda’s view, the two sides should come up with some sort of joint venture in order to show that the alliance isn’t dead, giving Renault Chairman Jean-Dominique Senard the room to unwind the cross-shareholdings that underpin the relationship, the Journal reported.To judge by the picture this paints of internal discussions within Nissan, the Japanese company is only interested in maintaining the appearance of an alliance with Renault and its 15% shareholder, the French government. Making a joint commitment to reaffirm a bond isn’t uncommon for people in a failing relationship, but it’s no way to run a business.If Nissan is sincerely committed to a joint venture, the first thing it should do is identify a strategic opportunity, work out what synergies it would bring, and find a way to operate it. Forming a JV just to get your partner to agree to the terms of a divorce puts your employees’ careers at the mercy of these corporate maneuverings.For those at Renault most committed to the logic of the merger with Fiat Chrysler Automobiles NV that was declared dead in June, this might count as good news. Senard has publicly talked down the prospect of the tie-up being renewed, but this suggests that Renault has been looking for ways to revive the alliance behind the scenes.A tie-up between European giants, in the manner of the mergers that created Airbus SE, Air France-KLM, and IAG SA, seems a far more congenial outcome than the bitter remains of the Renault-Nissan marriage. Fiat Chrysler’s strong business in SUVs and North America would also complement one of the most obvious shortcomings that Renault would suffer if it lost its alliance with Nissan.At the same time, the writing is on the wall for any further integration between France and Japan. Nissan seems committed to preventing any further convergence. Whether or not a Potemkin village JV is agreed to, the sort of ambitious activities pushed in the Carlos Ghosn era – development of modular designs shared between Renault and Nissan vehicles, or moving the manufacturing of the Nissan Micra from the Japanese company’s Chennai plant to a Renault factory north of Paris – are unlikely to see the light of day again. The more likely outcome would be something eventually resembling the far more limited cooperation between Daimler AG and the alliance.Does it matter whether Renault and Nissan are married, or merely cohabiting? In many ways, the alliance has been dead since Ghosn and his deputy Greg Kelly were arrested by Japanese authorities last November. As my colleague Anjani Trivedi has written, Nissan in particular may be better off resolving its substantial problems on its own rather than getting involved in the complexity of another multi-billion dollar cross-border merger.Still, the risk for Nissan is that by turning away from its European partnership it will leave itself too small to manage the vast capital expenditures and research and development costs necessary as the global car industry seeks to reverse slumping sales and manage the transition to electric vehicles and greater automation. Ghosn’s pursuit of volume growth at any cost is one reason why Nissan is now plagued with overcapacity and facing drastic job cuts. But the vision he was pursuing before his arrest – of a company as transnational as he is, headquartered in the Netherlands and with operations all over the world, and not especially beholden to either the Japanese or French governments – is now unlikely ever to materialize.That’s a tragedy. A Renault-Nissan alliance free to pursue profitable growth in the interests of the business as a whole, rather than being turned into the plaything of nationalist interests, is the likeliest way for the two companies and their workforces to prosper. If management in Paris and Yokohama are quietly giving up on that future, both companies may live to regret it.A marriage where neither partner is committed is the worst of all worlds. If separation is out of the question, Nissan and Renault need to find a way to make this relationship work.To contact the author of this story: David Fickling at email@example.comTo contact the editor responsible for this story: Matthew Brooker at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Sitting in my friend’s garden in Richmond my head was pummelled by an Airbus A380 droning overhead at 1,800ft on its descent into Heathrow (July 12) — followed one minute later by a Boing 737, which was equally deafening.
Airbus on Wednesday posted stronger-than-expected core second-quarter earnings, led by the switch to efficient new single-aisle jets, and maintained its profit forecast for the year while warning of delivery challenges in the second half. Airbus is trying to overcome industrial delays at a newly expanded plant in Hamburg, Germany, which is responsible for enhanced cabins for the in-demand A321neo, the largest version of the planemaker's best-selling single-aisle family. Airbus said it was looking at options to increase the share of the A321neo in the wider A320neo family.
Airbus urged European governments to step up plans for a "likely" no-deal Brexit and settle a long-running subsidy dispute with the United States to help limit trade risks for Europe's largest planemaker. The twin concerns surrounding Airbus's cross-border factory network prompted Chief Executive Guillaume Faury to issue a warning about rising trade tensions even as he unveiled stronger than expected second-quarter profits, driving up Airbus shares. Airbus builds wings for commercial aircraft in Britain, where new Prime Minister Boris Johnson has promised to lead the country out of the European Union on Oct. 31 whether he has secured a negotiated departure or not, fuelling speculation in currency markets of a disorderly Brexit.
Air France-KLM provisionally agreed to order 60 of Airbus's new A220 jets on Tuesday while announcing the retirement of the planemaker's A380 superjumbo from its fleet, in a bid to improve the airline's fuel efficiency and costs. In a boost for the A220 programme acquired by Airbus from Bombardier last year, Air France-KLM's board approved 30 options and 30 purchase rights in addition to the 60 firm orders worth a$5.5 billion at 2018 list prices. The company said the 120-150-seater A220-300 would "improve Air France's environmental footprint" as it gradually replaces its older A318 and A319 models at the smaller end of its fleet, starting in 2021.
Air France-KLM agreed to order 60 of Airbus's new A220 jets on Tuesday while announcing the retirement of the planemaker's A380 superjumbo from its fleet, as the Franco-Dutch airline group moves to improve fuel efficiency and costs. In a boost for the A220 programme acquired by Airbus from Bombardier last year, Air France-KLM's board approved 30 options and 30 purchase rights in addition to the firm orders worth an estimated $5.5 billion at 2018 list prices. Airbus no longer publishes prices.
Singapore Airlines Ltd's budget offshoot Scoot said on Monday it would convert six Airbus SE A320neo orders to the larger A321neo model and lease another 10 A321neos to help meet the airline's growth goals. Scoot, which has 37 A320neo family jets on order, had once planned to take 14 Boeing Co 737-800s from Singapore Airlines regional arm SilkAir.