Boeing 737 MAX – Still Not Fixed
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Jeweltex Manufacturing Inc., Retirement Plan, Et Al. V. The
Case 1:19-cv-02020-WFK-PK Document 1 Filed 04/08/19 Page 1 of 41 PageID #: 1 UNITED STATES DISTRICT COURT EASTERN DISTRICT OF NEW YORK _________________________________________ ) JEWELTEX MANUFACTURING INC., ) CASE NO. RETIREMENT PLAN, Individually and On ) Behalf of All Others Similarly Situated, ) ) Plaintiff, ) CLASS ACTION COMPLAINT ) vs. ) ) JURY TRIAL DEMANDED THE BOEING COMPANY, DENNIS A. ) MUILENBURG, ROBERT A. BRADWAY, ) DAVID L. CALHOUN, ARTHUR D. COLLINS, ) JR., KENNETH M. DUBERSTEIN, ADMIRAL ) EDMUND P. GIAMBASTIANI, JR., LYNN J. ) GOOD, NIKKI R. HALEY, LAWRENCE W. ) KELLNER, CAROLINE B. KENNEDY, ) EDWARD M. LIDDY, SUSAN C. SCHWAB, ) RONALD A. WILLIAMS, and MIKE S. ) ZAFIROVSKI, ) ) Defendants. ) _________________________________________ Plaintiff Jeweltex Manufacturing Inc., Retirement Plan (“Plaintiff”), by and through its undersigned attorneys, alleges the following based upon information and belief, except as to those allegations concerning Plaintiff, which are alleged upon personal knowledge. Plaintiff’s information and belief is based upon, among other things, the investigation conducted by his counsel which included, among other things: (a) a review and analysis of regulatory filings of The Boeing Company (“Boeing” or the “Company”) filed with the United States Securities and Exchange Commission (“SEC”); (b) a review and analysis of press releases and media reports issued and disseminated by Boeing; (c) a review of other publicly available information concerning Boeing, including articles in the news media and analyst reports; (d) a review and analysis of regulatory investigations and reports; and (e) complaints and related materials in litigation commenced against some or all of the Defendants Case 1:19-cv-02020-WFK-PK Document 1 Filed 04/08/19 Page 2 of 41 PageID #: 2 pertaining to Boeing and the fatal accidents involving the 737 Max series of aircraft (the “737 Max Accidents”) and their causes and aftermath. -
A Fond Farewell to Ve Fantastic Eets
NEWS RELEASE A fond farewell to ve fantastic eets 4/30/2020 Last month, American Airlines announced plans to accelerate the retirement of some older, less fuel-ecient aircraft from its eet sooner than originally planned. As ying schedules and aircraft needs are ne-tuned during this period of record low demand, American will take the unique step of retiring a total of ve aircraft types. American has ocially retired the Embraer E190 and Boeing 767 eets, which were originally scheduled to retire by the end of 2020. The airline has also accelerated the retirement of its Boeing 757s and Airbus A330-300s. Additionally, American is retiring 19 Bombardier CRJ200 aircraft operated by PSA Airlines. These changes remove operating complexity and will bring forward cost savings and eciencies associated with operating fewer aircraft types. It will also help American focus on ying more advanced aircraft as we continue receiving new deliveries of the Airbus A321neo and the Boeing 737 MAX and 787 family. American’s narrowbody eet also becomes more simplied with just two cockpit types – the Airbus A320 and the Boeing 737 families. This benets American’s operational performance through training eciency and streamlined maintenance. American continues to evaluate its schedule and remains committed to caring for customers on life’s journey. These changes will help American continue to provide a reliable travel experience around the world, even during these uncertain times. Here’s a snapshot of the aircraft exiting American’s eet: Airbus A330-300 — Blue Sky News/Pittsburgh International AirportAirbus A330-300 1 Joined the US Airways eet in 2000 prior to joining American’s eet in 2013. -
In the Court of Chancery of the State of Delaware
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE THOMAS P. DiNAPOLI, COMPTROLLER OF THE STATE OF NEW YORK, AS ADMINISTRATIVE PUBLIC VERSION HEAD OF THE NEW YORK STATE FILED ON: June 30, 2020 AND LOCAL RETIREMENT SYSTEM, AND AS TRUSTEE FOR THE NEW YORK STATE COMMON RETIREMENT FUND, and FIRE AND POLICE PENSION ASSOCIATION OF COLORADO, Plaintiffs, v. C.A. No. 2020-0465-AGB KENNETH M. DUBERSTEIN, MIKE S. ZAFIROVSKI, ARTHUR D. COLLINS JR., EDWARD M. LIDDY, ADMIRAL EDMUND P. GIAMBASTIANI JR., DAVID L. CALHOUN, SUSAN C. SCHWAB, RONALD A. WILLIAMS, LAWRENCE W. KELLNER, LYNN J. GOOD, ROBERT A. BRADWAY, RANDALL L. STEPHENSON, CAROLINE B. KENNEDY, W. JAMES MCNERNEY JR., DENNIS A. MUILENBURG, KEVIN G. MCALLISTER, RAYMOND L. CONNER, GREG SMITH, J. MICHAEL LUTTIG, GREG HYSLOP, and DIANA L. SANDS, Defendants. and THE BOEING COMPANY, Nominal Defendant. VERIFIED STOCKHOLDER DERIVATIVE COMPLAINT {FG-W0467081.} Plaintiffs Thomas P. DiNapoli, Comptroller of the State of New York, as Administrative Head of the New York State and Local Retirement System, and as Trustee of the New York State Common Retirement Fund, and Fire and Police Pension Association of Colorado, stockholders of The Boeing Company (“Boeing,” the “Company,” or “Nominal Defendant”), bring this action on Boeing’s behalf against the current and former officers and directors identified below (collectively, “Defendants”) arising from their failure to monitor the safety of Boeing’s 737 MAX airplanes. The allegations in this Complaint are based on the knowledge of Plaintiffs as to themselves, and on information and belief, including the review of publicly available information and documents obtained under 8 Del. -
737 Max: Boeing's Crashes Expose Systemic Failings
Pushing It to the Max Boeing's Crashes Expose Systemic Failings The crash of two Boeing 737 Max jets in the course of just months has created an existential crisis for the company. Were the 346 who died in Indonesia and Ethiopia the victims of shortcuts and cutthroat competition in the aviation industry? By DER SPIEGEL Staff 26.08.2019, 15∶43 Uhr Grounded 737 Max jets at Boeing Field in Seattle Lindsey Wasson/ REUTERS It took Ethiopian Airlines Flight 302 about six minutes to travel from Addis Ababa to Ejere, a sprawling cluster of small farms on the edge of the Abyssinian highlands. By car, the journey takes around three hours and winds past unfinished buildings in the Ethiopian capital's southeastern suburbs before continuing down the immaculate, six-lane Addis Adama Expressway, which was built by the Chinese and opened in 2014. After the exit, there's a narrow, bumpy gravel road that's barely wide enough for a single car or carriage. It is out here that the scene of the accident can be found -- or the scene of the crime, depending on what investigators find. In this undulating terrain 2,000 meters (6562 feet) above sea level, the earth seems scorched. The only green comes from eucalyptus trees, which dot the landscape and provide precious shade for goatherds and their animals. Along the paths are head-high stalls that transform into storefronts come market day, when farmers sell their homemade schnapps. It's a barren region. 1 The crater the airplane made when it slammed into the ground at 8:44 a.m. -
Airworthiness Directives; the Boeing Company Airplanes
[4910-13-P] DEPARTMENT OF TRANSPORTATION Federal Aviation Administration 14 CFR Part 39 [Docket No. FAA-2020-0686; Product Identifier 2019-NM-035-AD; Amendment 39- 21332; AD 2020-24-02] RIN 2120-AA64 Airworthiness Directives; The Boeing Company Airplanes AGENCY: Federal Aviation Administration (FAA), DOT. ACTION: Final rule. SUMMARY: The FAA is superseding Airworthiness Directive (AD) 2018-23-51, which applied to all The Boeing Company Model 737-8 and 737-9 (737 MAX) airplanes. AD 2018-23-51 required revising certificate limitations and operating procedures of the Airplane Flight Manual (AFM) to provide the flightcrew with runaway horizontal stabilizer trim procedures to follow under certain conditions. This AD requires installing new flight control computer (FCC) software, revising the existing AFM to incorporate new and revised flightcrew procedures, installing new MAX display system (MDS) software, changing the horizontal stabilizer trim wire routing installations, completing an angle of attack (AOA) sensor system test, and performing an operational readiness flight. This AD also applies to a narrower set of airplanes than the superseded AD, and only allows operation (dispatch) of an airplane with certain inoperative systems if specific, more restrictive, provisions are incorporated into the operator’s existing FAA-approved minimum equipment list (MEL). This AD was prompted by the potential for a single erroneously high AOA sensor input received by the flight control system to result in repeated airplane nose-down trim of the horizontal stabilizer. The FAA is issuing this AD to address the unsafe condition on these products. DATES: This AD is effective [INSERT DATE OF PUBLICATION IN THE FEDERAL REGISTER]. -
What Happened, and What Now?
BOEING 737 MAX REPORT THE 737]. So they did it, and did not even know what the aircraft was going to be like because they were so focused on the all-new single-aisle.” What happened, Ironically, the A320neo was launched as a defensive move. Airbus leaders wanted to blunt the threat to the A320 from the C Series, the cutting-edge Bombardier aircraft program launched and what now? in 2008 with Pratt & Whitney geared MAXSean Broderick Washington turbofan engines. Even they had no Mid-August marked five months since the last Boeing 737 MAX fleet’s idea the Neo would generate so many revenue flight and customer delivery as well as—most significantly—its new orders. second fatal accident. While Boeing is making progress on changes need- “The Neo’s success in the market- ed to convince regulators that the latest iteration of its venerable narrow- place did point out unmistakably that customers would embrace a lower body is safe to fly, the timing remains fluid. The road ahead is littered with amount of capability quickly,” McNer- unanswered questions. As for how one of the industry’s most successful ney reflected in 2012. “So that was a and best-selling models ended up grounded less than two years after en- factor. We added it all up and decided tering service, more is known. Following is a recap of how the MAX got to move with the MAX.” here, where it is headed, and—to the extent known—what comes next. The birth of the MAX took even its Some key issues related to the MAX crisis are not covered in detail. -
Summary of the FAA's Review of the Boeing 737
Summary of the FAA’s Review of the Boeing 737 MAX Summary of the FAA’s Review of the Boeing 737 MAX Return to Service of the Boeing 737 MAX Aircraft Date: November 18, 2020 Summary of the FAA’s Review of the Boeing 737 MAX This page intentionally left blank. 1 Summary of the FAA’s Review of the Boeing 737 MAX Table of Contents Executive Summary ............................................................................................ 5 Introduction .................................................................................................... 5 Post-Accident Actions ....................................................................................... 6 Summary of Changes to Aircraft Design and Operation ........................................ 9 Additional Changes Related to the Flight Control Software Update. ...................... 10 Training Enhancements .................................................................................. 11 Compliance Activity ....................................................................................... 12 System Safety Analysis .................................................................................. 13 Return to Service .......................................................................................... 13 Conclusion .................................................................................................... 14 1. Purpose of Final Summary ........................................................................... 15 2. Introduction .............................................................................................. -
Icelandair Media Kit Welcome Aboard Icelandair!
ICELANDAIR MEDIA KIT WELCOME ABOARD ICELANDAIR! Icelandair is a transatlantic airline with decades of experience under its belt. Iceland’s unique position in the middle of the Atlantic makes it the ideal hub for an extensive flight network linking Europe and North America, and passengers can enjoy a stopover in Iceland at no additional airfare. Since the 1960s, Icelandair has encouraged passengers to enjoy a stopover and now there’s more choice and variety than ever before, with the service available on all transatlantic routes from 24 European destinations to 22 North American gateways (including latest additions San Francisco, Kansas City, Cleveland, Dallas and Baltimore). The airline, which celebrated its 80-year anniversary in 2017, continues to grow by expanding and renewing its fleet, highlighted in April 2018 when the airline received the first of 16 new Boeing 737 MAX aircraft. ENJOY ICELAND BEFORE YOU STEP OFF THE PLANE Flying with Icelandair provides passengers with an introduction to the country, plus Icelandic culture and food. Our goal is that you enjoy the journey as much as the destination. n Hours of entertainment on board: from the latest movie releases to multichannel stereo music, including a strong Icelandic offering. n A taste of Iceland: local delicacies on board. n All of Icelandair’s planes are named after Icelandic volcanoes and spots of natural beauty. Three of the airline’s fleet have specially painted liveries. ‘Þingvellir’ is named after one of Iceland’s national parks and was introduced in June 2018 to celebrate 100 years of Icelandic sovereignty. ‘Hekla Aurora’ and ‘Vatnajökull’ were introduced in 2015 and 2017 respectively; their liveries are inspired by the northern lights and Europe’s second largest glacier. -
Cascading Effect of Boeing's 737 Max Technology Development
International Journal of Recent Technology and Engineering (IJRTE) ISSN: 2277-3878, Volume-8 Issue-5, January 2020 Cascading Effect of Boeing’s 737 Max Technology Development Saradhi Gonela, Mohammed Laeequddin, Ramkrishna Dikkatwar, Sudesh N S 737 Max jets). Abstract: During March and April 2019, many countries had The 737 had been the Boeing’s largest selling aircraft grounded Boeing’s 737 Max 8 jets following two fatal crashes in a model and accounted for almost one-third of operating profit. space of five months, between October 2018 and March 2019, Between 1958 to March 2019, Boeing delivered 23,167 killing 346 people. It was widely reported that the problem was with the software called Maneuvering Characteristics aircrafts of all its models, of which 10,533 units were from the Augmentation System (MCAS). Aviation experts across the world 737 family. (Please refer to Annexure II for year wise delivery accused Boeing of being lax in following safety protocols during of Boeing’s all models). By 2019, the company had an order 737 Max jet’s development stage. It was reported that the company for over 5,000 units of 737 worth around $600 billion[1] was in a hurry to face the fast growing competition from archival Grounding of 737 Max jets had a severe impact on company’s Airbus. Boeing faced a sever threat of losing its market share in the North American short haul market after the runaway success financial position and reputation. Consequently, company’s of Airbus A320. The A320 deployed several first of the kind share that traded at $440.62 on March 1, 2019, dropped to technologies and grabbed significant market share in European $375.41 on March 12 and further to $362.17 on March 22, and Asian short haul market. -
Ash Crisis Conference
ICELANDAIR GROWTH PLANS IN 2014 BIRKIR HÓLM GUÐNASON ǀ CEO ICELANDAIR 21 AIRCRAFT 2014 10 Boeing 757-200 10 Boeing 757-200 11 Boeing 757-200 13 Boeing 757-200 15 Boeing 757-200 17 Boeing 757-200 20 Boeing 757-200 1 Boeing 757-300 1 Boeing 757-300 1 Boeing 757-300 1 Boeing 757-300 1 Boeing 757-300 1 Boeing 757-300 1 Boeing 757-300 2008 2009 2010 2011 2012 2013 2014 FUEL PRICES REMAIN HIGH OVERVIEW 2007-2013 USD FUEL PRICE PER TONNE 1,600 1,400 1,200 1,000 800 600 400 200 0 ROUTE DEVELOPMENT GROWING ROUTE NETWORK GROWING ROUTE NETWORK GROWING ROUTE NETWORK GROWING ROUTE NETWORK GROWING ROUTE NETWORK GROWING ROUTE NETWORK GROWING ROUTE NETWORK CHANGE IN CAPACITY ON THE N-ATLANTIC AVAILABLE SEAT KILOMETERS (ASK) ICELANDAIR VS. TOTAL MARKET 35% Icelandair US-EUR US-EUR total 30% 25% 20% 15% 10% 5% 0% -5% -10% 2009 2010 2011 2012 2013 2014 Source: Airline/Aircraft Projects; Apr2012 THE YEAR AHEAD NEW DESTINATIONS IN NETWORK 20 Months 16 Months 14 Months 11 Months 6-9 Months 9-0 Months PHASES Discussions Shortlist Business Case Final Analysis Desicion and Sales Promotion Announcement Foreign airports Decision on Full business Anaysis is Destinations ACTIVITIES approached and shortlist. Detailed case calculated. finalized and the New gateways immediately made analysis on initial study on market Negotiations with initial proposal is are announced. available for sale. data. data and demand airports and made. Promotional estimate. tourism efforts across authorities. regions. Start preparation 6 gateways in 3 US/CAN Gateways and Announcement to Online updates, on shortlist of Canada and 4 gateways are left plans are stock exchange, spreads in destinations. -
Aviation Week & Space Technology
The Coming Wave of Bell’s Electric U.S. Air Force’s Bombardier Aircraft Retirements Anti-Torque System Budget Gamble Back to Business RICH MEDIA EXCLUSIVE $14.95 FEBRUARY 24-MARCH 8, 2020 SURFING FOR EFFICIENCY Digital Edition Copyright Notice The content contained in this digital edition (“Digital Material”), as well as its selection and arrangement, is owned by Informa. and its affiliated companies, licensors, and suppliers, and is protected by their respective copyright, trademark and other proprietary rights. Upon payment of the subscription price, if applicable, you are hereby authorized to view, download, copy, and print Digital Material solely for your own personal, non-commercial use, provided that by doing any of the foregoing, you acknowledge that (i) you do not and will not acquire any ownership rights of any kind in the Digital Material or any portion thereof, (ii) you must preserve all copyright and other proprietary notices included in any downloaded Digital Material, and (iii) you must comply in all respects with the use restrictions set forth below and in the Informa Privacy Policy and the Informa Terms of Use (the “Use Restrictions”), each of which is hereby incorporated by reference. Any use not in accordance with, and any failure to comply fully with, the Use Restrictions is expressly prohibited by law, and may result in severe civil and criminal penalties. Violators will be prosecuted to the maximum possible extent. You may not modify, publish, license, transmit (including by way of email, facsimile or other electronic means), transfer, sell, reproduce (including by copying or posting on any network computer), create derivative works from, display, store, or in any way exploit, broadcast, disseminate or distribute, in any format or media of any kind, any of the Digital Material, in whole or in part, without the express prior written consent of Informa. -
Annual Report 2018 2
Icelandair Group Annual Report 2018 2 Contents 2 Overview 42 Governance 3 Key Figures 43 Corporate Governance 4 Icelandair Group at a Glance 45 The Board of Directors 6 Chairman’s Address 46 The Executive Management 8 President and CEO’s Address 48 Responsibility 11 Business Review 49 Corporate Social Responsibility 12 Vision and Strategy 50 Environmental Accounting 14 Structure 53 Social Accounting 15 International Flight Operations 55 Governance Accounting 17 Air Iceland Connect 56 Accounts 19 Loftleidir Icelandic 57 Consolidated Financial Statements 20 Icelandair Hotels 23 Iceland Travel 24 VITA 25 Financial Review 26 Shareholder Information 29 Performance in 2018 33 Financial Position 36 Risk Management 40 Outlook 2019 Overview ICELANDAIR ANNUAL REPORT 2018 3 Key Figures USD thousands 2018 2017* 2016 2015 2014 Operating results 47% 43% 42% Total income 1,510,518 1,417,987 1,285,574 1,139,699 1,113,297 44% 20% EBITDAR 126,893 207,765 254,960 261,710 193,410 19% 17% 32% EBITDA 76,479 170,076 219,845 226,666 154,338 EBIT -56,968 49,645 118,437 142,840 79,009 12% EBT continuing operations -67,810 48,642 120,111 140,223 79,908 Loss / profit for the period -55,570 37,538 89,068 111,223 66,499 5% 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018-56 Balance sheet Total assets 1,464,122 1,423,842 1,292,493 971,979 849,220 GRAPH 1: EBITDA % 2014–2018 GRAPH 6: Equity ratio Total equity 471,379 596,545 568,213 456,531 365,055 2014–2018 Interest-bearing debt 415,801 289,541 242,382 65,530 61,934 Net interest-bearing debt 116,341 64,263 -7,743 -148,589