Total : 32 View more »
Continental Airlines launches New Flat-Bed Seats. Continental Airlines’ first aircraft with new flat-bed BusinessFirst seats took to the skies Sunday, operating as flight CO98 from Hong Kong to New York / Newark.
http://www.asiatraveltips.com/news09/311-ContinentalAirlines.shtml
Continental Airlines Announces Third Quarter Results. Records $18 million loss; profit of $2 million excluding special charges.
Boeing and Canadian airline WestJet announced an order for 14 additional Next-Generation 737-700s. The airline currently flies an all-Boeing fleet of 81 Next-Generation 737s.
Forget traditional pilot-controlled fighter planes. The U.S. military’s future will be increasingly unmanned, and Boeing is maneuvering to be there. With at least four unmanned aerial vehicles in various stages of development and more concepts on the drawing board, Boeing’s St.
http://stlouis.bizjournals.com/stlouis/stories/2009/11/09/story1.html?ana=from_rss
Total : 234 View more »
Nov 06, 2009 (Fresh Brewed Media via COMTEX) --
Boeing (NYSE: BA) closed yesterday at $49.77. So far the stock has hit a 52-week low of $29.05 and 52-week high of $55.48. Boeing stock has been showing support around 47.78 and resistance in the 50.86 range. Technical indicators for the stock are Bullish and S&P gives BA a positive 4 STAR (out of 5) buy rating. BA appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at a Jan '10 49 covered call (BZD AY) for a net debit in the $46.32 area. That is also the break even stock price for this trade. This covered call has a 71 day duration, provides 6.93% downside protection and a 5.79% assigned return rate for a 29.74% annualized return rate (comparison purposes only). A lower cost hedged play for this stock would use a longer term call option in place of the covered call stock purchase. To use this strategy look at going long the BA Jan '11 30 Call (VBO AF) and selling the Jan '10 49 call (BZD AY) for a $16.95 debit. The trade has a 71 day life and would provide 5.67% downside protection and a 12.09% assigned return rate for a 62.00% annualized return rate (for comparison purposes only). Boeing has a current annual dividend yield of 3.49%.
FBB-Seven Summits Research Goto www.iotogo.com/18w1 for our free report titled, The 18 Ways To Know When It's Time To Dump A Stock
Tags: investment opinion nyse research S&P trade yield
Companies: Boeing Co. (BA)
WICHITA, Kan., Nov. 5, 2009 (Canada NewsWire via COMTEX) --
<<
- Third quarter 2009 Revenues grew 3 percent to $1.054 billion
- Operating Income grew 18 percent as Operating Margins expanded to 12.4
percent
- Fully Diluted Earnings Per Share increased 17 percent to $0.62 per share
- Cash and Cash Equivalents were $207 million
- Total backlog of approximately $28.2 billion
>>
Spirit AeroSystems Holdings, Inc. (NYSE: SPR) reported third quarter 2009 financial results reflecting revenue and earnings growth as ship set deliveries for large commercial aircraft increased from the same period of 2008.
Spirit's third quarter 2009 revenues increased to $1.054 billion, up 3 percent from the same period last year. Operating income increased 18 percent to $131 million, up from $111 million in the same period a year ago, as revenues increased, operating efficiencies improved, and period expense declined. Net income was $87 million, or $0.62 per fully diluted share, up 18 percent from $74 million, or $0.53 per fully diluted share, in the same period of 2008. (Table 1)
Table 1. Summary Financial Results (Unaudited)
<<
($ in Millions, 3rd Quarter Nine Months
except per share ----------- -----------
data) 2009 2008 Change 2009 2008 Change
----------------- ---- ---- ------ ---- ---- ------
>>
<<
Revenues $1,054 $1,027 3% $3,001 $3,126 (4%)
Operating Income $131 $111 18% $218 $378 (42%)
Operating Income
as a % of
Revenues 12.4% 10.8% 160 BPS 7.3% 12.1% (480) BPS
Net Income $87 $74 18% $142 $246 (42%)
Net Income as a
% of Revenues 8.3% 7.2% 110 BPS 4.7% 7.9% (320) BPS
Earnings per
Share (Fully
Diluted) $0.62 $0.53 17% $1.01 $1.76 (43%)
Fully Diluted
Weighted Avg
Share Count
(Millions) 140.2 139.1 140.0 139.2
>>
"We executed well across the company as we delivered solid operating performance in the third quarter," said President and Chief Executive Officer Jeff Turner. "Our results reflect improving performance as revenues and profitability increased and we recovered from the disrupted operations in the previous three quarters caused by the Machinists' strike at Boeing and the new ERP system implementation in the first half of 2009," Turner stated. "We continue to support the 787 program and are preparing for production restart and ramp-up. In addition, we continue to make good progress on other development programs as we work to grow and diversify our company," Turner added.
"While we have seen some stabilization in the global economic outlook, we remain cautious regarding the outlook of the commercial aerospace market. Our backlog remains strong and our strategy is on track to achieve long-term value creation for our customers, shareholders, and employees," Turner concluded.
Spirit's backlog at the end of the third quarter of 2009 was $28.2 billion, flat from the end of the second quarter of 2009, as Airbus and Boeing third quarter backlog reductions were offset by a follow-on contract at Spirit Europe for 777 wing components. Spirit calculates its backlog based on contractual prices for products and volumes from the published firm order backlogs of Airbus and Boeing, along with firm orders from other customers.
Spirit updated its contract profitability estimates during the third quarter of 2009, resulting in a $2 million favorable cumulative catch-up adjustment, compared to a $13 million unfavorable cumulative catch-up adjustment for the third quarter of 2008, which was largely the result of the Machinists' strike at Boeing.
Cash flow from operations was $5 million for the third quarter of 2009, compared to $68 million for the third quarter of 2008, primarily due to a decrease in cash advance receipts from customers of $48 million compared to the same period of 2008. (Table 2)
Table 2. Cash Flow and Liquidity
<<
3rd Quarter Nine Months
----------- -----------
($ in Millions) 2009 2008 2009 2008
--------------- ---- ---- ---- ----
>>
<<
Cash Flow from Operations $5 $68 ($211) $147
Purchases of Property, Plant &
Equipment ($51) ($56) ($158) ($175)
>>
<<
October 1, December 31,
Liquidity 2009 2008
---- ----
>>
<<
Cash $207 $217
Total Debt $884 $588
>>
During the third quarter, Spirit issued $300 million in senior unsecured notes with a coupon rate of 7.5% and a maturity in 2017. A portion of the proceeds were used to pay down the outstanding revolver balance of $200 million prior to the close of the third quarter.
Cash balances at the end of the third quarter of 2009 were $207 million and debt balances were $884 million. During the third quarter of 2009, the company utilized its credit-line as it continued to invest in development programs. All credit-line borrowings were paid down using a portion of the funds from the issuance of the senior unsecured notes. At the end of the third quarter of 2009, the company's $729 million revolving credit facility was undrawn. Approximately $17 million of the credit facility is reserved for financial letters of credit.
The company's credit ratings remained unchanged at the end of the third quarter of 2009 with a BB rating at Standard & Poor's and a Ba3 rating at Moody's.
<<
2009 Outlook
>>
Spirit revenue guidance for the full-year 2009 has been updated to reflect movement of certain forecasted non-recurring contract settlements out of 2009. Revenues are now expected to be between $4.1 and $4.2 billion based on Boeing's 2009 delivery guidance of 480-485 aircraft; anticipated B787 deliveries consistent with our expectations following Boeing's announcement of the revised B787 schedule on August 27, 2009; 2009 expected Airbus deliveries of approximately 483 aircraft; internal Spirit forecasts for non-OEM production activity and non-Boeing and Airbus customers; and foreign exchange rates consistent with fourth quarter 2008 levels.
Fully diluted earnings per share for 2009 remains unchanged and is expected to be between $1.45 and $1.55 per share after the increase in interest expense and fees associated with the recently issued senior unsecured notes.
Cash flow from operations less capital expenditures, net of customer reimbursements, is now expected to be no more than a ($150) million use of cash in the aggregate, with capital expenditures of approximately $225 million.
The effective tax rate is now forecasted to be approximately 30 percent for 2009.
The guidance assumes the settlement and receipt of certain outstanding non-recurring contract payments associated with our development programs. To the extent these forecasted payments are not received during the fourth quarter of 2009, they will represent a shift in revenues, earnings and cash flows from 2009 to 2010. (Table 3)
<<
Table 3.
Financial Outlook 2008 Actual 2009 Guidance Change
----------------- ----------- ------------- ------
>>
Revenues $3.8 billion $4.1 - $4.2 billion 8% - 11%
<<
Earnings Per Share
(Fully Diluted) $1.91 $1.45 - $1.55 (24%) - (19%)
>>
<<
Effective Tax Rate
(% Pre-Tax Earnings) 30.9% ~30%
>>
<<
Cash Flow From
Operations $211 million*
>>
Capital Expenditures $236 million*
Customer Reimbursement $116 million*
<<
*($150M) with ~$225 million of Capital Expenditures
Cautionary Statement Regarding Forward-Looking Statements
>>
This press release contains "forward-looking statements." Forward-looking statements reflect our current expectations or forecasts of future events. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "anticipate," "intend," "estimate," "believe," "project," "continue," "plan," "forecast," or other similar words. These statements reflect management's current views with respect to future events and are subject to risks and uncertainties, both known and unknown. Our actual results may vary materially from those anticipated in forward-looking statements. We caution investors not to place undue reliance on any forward-looking statements. Important factors that could cause actual results to differ materially from forward-looking statements include, but are not limited to: our ability to continue to grow our business and execute our growth strategy, including the timing and execution of new programs; our ability to perform our obligations and manage cost related to our new commercial and business aircraft development programs; reduction in the build rates of certain Boeing aircraft including, but not limited to, the B737 program, the B747 program, the B767 program and the B777 program, and build rates of the Airbus A320 and A380 programs, which could be affected by the impact of a deep recession on business and consumer confidence and the impact of continuing turmoil in the global financial and credit markets; declining business jet manufacturing rates and customer cancellations or deferrals as a result of the weakened global economy; the success and timely execution of key milestones such as first flight and delivery of Boeing's new B787 and Airbus' new A350 aircraft programs, including receipt of necessary regulatory approvals and customer adherence to their announced schedules; our ability to enter into supply arrangements with additional customers and the ability of all parties to satisfy their performance requirements under existing supply contracts with Boeing, Airbus, and other customers and the risk of nonpayment by such customers; any adverse impact on Boeing's and Airbus' production of aircraft resulting from cancellations, deferrals or reduced orders by their customers or labor disputes; any adverse impact on the demand for air travel or our operations from the outbreak of diseases such as the influenza outbreak caused by the H1N1 virus, avian influenza, severe acute respiratory syndrome or other epidemic or pandemic outbreaks; returns on pension plan assets and impact of future discount rate changes on pension obligations; our ability to borrow additional funds, or refinance debt; competition from original equipment manufacturers and other aerostructures suppliers; the effect of governmental laws, such as U.S. export control laws, the Foreign Corrupt Practices Act, environmental laws and agency regulations, both in the U.S. and abroad; the cost and availability of raw materials and purchased components; our ability to successfully extend or renegotiate our primary collective bargaining contracts with our labor unions; our ability to recruit and retain highly skilled employees and our relationships with the unions representing many of our employees; spending by the U.S. and other governments on defense; the possibility that our cash flows and borrowing facilities may not be adequate for our additional capital needs or for payment of interest on and principal of our indebtedness; our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; the outcome or impact of ongoing or future litigation and regulatory actions; and our exposure to potential product liability claims. These factors are not exhaustive, and new factors may emerge or changes to the foregoing factors may occur that could impact our business. Except to the extent required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
<<
Appendix
Segment Results
Fuselage Systems
>>
Fuselage Systems segment revenues for the third quarter of 2009 were $526 million, up 9 percent over the same period last year, as deliveries in the prior year quarter were impacted by the Machinists' strike at Boeing. Operating margin for the third quarter of 2009 was 18.1 percent, up from 15.2 percent in the third quarter of 2008, as a favorable cumulative catch-up of $4 million was realized during the quarter. During the third quarter of 2008, the segment realized an unfavorable $11 million cumulative catch-up adjustment.
<<
Propulsion Systems
>>
Propulsion Systems segment revenues for the third quarter of 2009 were $266 million, down 9 percent over the same period last year due to fewer 747 deliveries and lower aftermarket sales. Operating margin for the third quarter of 2009 was 13.3 percent, down from 16.2 percent in the third quarter of 2008, primarily due to lower spares volumes. During the quarter, an unfavorable cumulative catch-up of $1 million was realized.
<<
Wing Systems
>>
Wing Systems segment revenues for the third quarter of 2009 were $257 million, up 4 percent over the same period last year as increased deliveries to Airbus and Boeing more than offset fewer Hawker 850XP deliveries. Operating margin for the third quarter of 2009 was 10.3 percent, down from 10.9 percent in the third quarter of 2008, as an unfavorable cumulative catch-up of $1 million was realized during the quarter. During the third quarter of 2008, the segment realized an unfavorable $2 million cumulative catch-up adjustment.
<<
>>
Table 4. Segment Reporting
<<
(Unaudited) (Unaudited)
($ in Millions, 3rd Quarter Nine Months
except margin ----------- -----------
percent) 2009 2008 Change 2009 2008 Change
-------------- ---- ---- ------ ---- ---- ------
Segment Revenues
Fuselage
Systems $525.9 $484.8 8.5% $1,497.6 $1,470.2 1.9%
Propulsion
Systems $266.2 $291.5 (8.7%) $772.1 $863.1 (10.5%)
Wing
Systems $257.3 $246.8 4.3% $712.9 $773.5 (7.8%)
All Other $4.4 $4.1 7.3% $18.2 $18.9 (3.7%)
---- ---- --- ----- ----- ----
Total Segment
Revenues $1,053.8 $1,027.2 2.6% $3,000.8 $3,125.7 (4.0%)
>>
<<
Segment Earnings
from Operations
Fuselage
Systems $95.2 $73.5 29.5% $229.4 $255.0 (10.0%)
Propulsion
Systems $35.3 $47.1 (25.1%) $97.2 $140.9 (31.0%)
Wing
Systems $26.6 $26.9 (1.1%) ($12.7) $92.3 (113.8%)
All Other $1.0 $0.0 NA ($1.0) $0.1 (1,100.0%)
---- ---- --- ----- ---- --------
Total Segment
Operating
Earnings $158.1 $147.5 7.2% $312.9 $488.3 (35.9%)
>>
<<
Unallocated
Corporate
SG&A Expense ($26.7) ($35.6) (25.0%) ($92.9) ($109.7) (15.3%)
Unallocated
Research &
Development
Expense ($0.4) ($0.7) (42.9%) ($1.6) ($1.1) 45.5%
----- ----- ----- ----- ----- ----
Total Earnings
from Operations $131.0 $111.2 17.8% $218.4 $377.5 (42.1%)
>>
<<
Segment Operating
Earnings as
% of Revenues
Fuselage
Systems 18.1% 15.2% 290 BPS 15.3% 17.3% (200)BPS
Propulsion
Systems 13.3% 16.2% (290)BPS 12.6% 16.3% (370)BPS
Wing
Systems 10.3% 10.9% (60)BPS (1.8%) 11.9% (1,370)BPS
All Other 22.7% 0.0% 2,270 BPS (5.5%) 0.5% (600)BPS
---- --- --------- ---- --- --------
Total Segment
Operating
Earnings as %
of Revenues 15.0% 14.4% 60 BPS 10.4% 15.6% (520)BPS
>>
<<
Total Operating
Earnings as %
of Revenues 12.4% 10.8% 160 BPS 7.3% 12.1% (480)BPS
>>
<<
Spirit Ship Set Deliveries
(One Ship Set equals One Aircraft)
>>
2008 Spirit AeroSystems Deliveries
<<
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Total 2008
------- ------- ------- ------- ----------
B737 93 95 87 42 317
B747 4 7 4 1 16
B767 3 3 3 1 10
B777 20 22 18 8 68
B787 1 1 1 0 3
--- --- --- --- ---
Total 121 128 113 52 414
>>
<<
A320 Family 95 95 90 87 367
A330/340 24 21 23 22 90
A380 4 2 4 6 16
--- --- --- --- ---
Total 123 118 117 115 473
>>
<<
Hawker 850XP 15 24 24 28 91
--- --- --- --- ---
>>
<<
Total Spirit 259 270 254 195 978
=== === === === ===
>>
2009 Spirit AeroSystems Deliveries
<<
1st Qtr 2nd Qtr 3rd Qtr YTD 2009
------- ------- ------- --------
B737 74 96 93 263
B747 3 1 3 7
B767 3 3 3 9
B777 21 21 21 63
B787 2 2 2 6
--- --- --- ---
Total 103 123 122 348
>>
<<
A320 Family 105 101 94 300
A330/340 26 23 28 77
A380 0 2 5 7
--- --- --- ---
Total 131 126 127 384
>>
<<
Hawker 850XP 18 13 6 37
--- --- --- ---
>>
<<
Total Spirit 252 262 255 769
=== === === ===
>>
<<
Spirit AeroSystems Holdings, Inc.
Condensed Consolidated Statements of Operations
(unaudited)
>>
<<
For the For the For the For the
Three Months Three Months Nine Months Nine Months
Ended Ended Ended Ended
October 1, September 25, October 1, September 25,
2009 2008 2009 2008
---------- ----------- ---------- -----------
($ in millions, except per share data)
>>
<<
Net Revenues $1,053.8 $1,027.2 $3,000.8 $3,125.7
Operating costs and
expenses:
Cost of sales 878.3 864.3 2,637.2 2,596.1
Selling, general
and administrative 30.5 39.0 103.6 119.0
Research and
development 14.0 12.7 41.6 33.1
---- ---- ---- ----
Total Operating
Costs and Expenses 922.8 916.0 2,782.4 2,748.2
Operating Income 131.0 111.2 218.4 377.5
Interest expense and
financing fee
amortization (10.2) (9.9) (29.1) (29.5)
Interest income 1.6 4.4 6.2 15.1
Other income, net (0.5) (0.7) 5.2 0.9
---- ---- --- ---
Income Before
Income Taxes 121.9 105.0 200.7 364.0
Income tax provision (34.4) (31.0) (58.8) (118.4)
----- ----- ----- ------
Income Before
Equity in Net Loss
of Affiliate 87.5 74.0 141.9 245.6
Equity in net loss of
affiliate (0.2) - (0.2) -
---- --- ---- ---
Net Income $87.3 $74.0 $141.7 $245.6
===== ===== ====== ======
>>
<<
Earnings per share
Basic $0.63 $0.54 $1.03 $1.79
Shares 138.6 137.0 138.2 136.9
>>
<<
Diluted $0.62 $0.53 $1.01 $1.76
Shares 140.2 139.1 140.0 139.2
>>
<<
Spirit AeroSystems Holdings, Inc.
Condensed Consolidated Balance Sheets
(unaudited)
October 1, December 31,
2009 2008
---------- -----------
($ in millions)
Current assets
Cash and cash equivalents $206.7 $216.5
Accounts receivable, net 235.8 149.3
Current portion of long-term receivable 28.2 108.9
Inventory, net 2,204.6 1,882.0
Other current assets 85.8 76.6
---- ----
Total current assets 2,761.1 2,433.3
Property, plant and equipment, net 1,224.0 1,068.3
Pension assets 60.0 60.1
Other assets 238.6 198.6
----- -----
Total assets $4,283.7 $3,760.3
======== ========
Current liabilities
Accounts payable $421.2 $316.9
Accrued expenses 164.1 161.8
Current portion of long-term debt 6.7 7.1
Advance payments, short-term 194.3 138.9
Deferred revenue, short-term 59.3 110.5
Other current liabilities 25.8 8.1
---- ---
Total current liabilities 871.4 743.3
Long-term debt 583.5 580.9
Bonds payable, long-term 293.4 -
Advance payments, long-term 806.5 923.5
Deferred revenue and other deferred credits 54.3 58.6
Pension/OPEB obligation 49.1 47.3
Other liabilities 169.6 109.2
Shareholders' equity
Preferred stock, par value $0.01, 10,000,000
shares authorized, no shares issued and
outstanding - -
Common stock, Class A par value $0.01,
200,000,000 shares authorized, 104,819,957
and 103,209,466 issued and outstanding,
respectively 1.0 1.0
Common stock, Class B par value $0.01,
150,000,000 shares authorized, 36,216,211
and 36,679,760 shares issued and
outstanding, respectively 0.4 0.4
Additional paid-in capital 946.3 939.7
Minority interest 0.5 0.5
Accumulated other comprehensive loss (124.1) (134.2)
Retained earnings 631.8 490.1
----- -----
Total shareholders' equity 1,455.9 1,297.5
------- -------
Total liabilities and shareholders'
equity $4,283.7 $3,760.3
======== ========
>>
<<
Spirit AeroSystems Holdings, Inc.
Condensed Consolidated Statements of Cash Flows
(unaudited)
>>
<<
For the For the
Nine Months Nine Months
Ended Ended
October 1, September 25,
2009 2008
---------- -------------
($ in millions)
Operating activities
Net Income $141.7 $245.6
Adjustments to reconcile net income to net
cash provided by (used in) operating activities
Depreciation expense 91.9 90.8
Amortization expense 7.7 7.1
Accretion of long-term receivable (5.8) (13.0)
Employee stock compensation expense 6.7 11.6
Loss from the ineffectiveness of hedge
contracts - 0.4
(Gain) loss from foreign currency transactions (3.9) 0.3
Gain on disposition of assets - (0.2)
Deferred taxes (20.5) 0.9
Pension and other post-retirement
benefits, net 1.6 (21.5)
Grant income (1.4) -
Equity in net income of affiliate 0.2 -
Changes in assets and liabilities
Accounts receivable (84.6) (28.4)
Inventory, net (319.5) (432.9)
Accounts payable and accrued liabilities 104.9 30.5
Advance payments (61.6) 230.4
Deferred revenue and other deferred credits (54.9) 16.9
Other (13.8) 8.1
----- ---
Net cash provided by (used in) operating
activities (211.3) 146.6
------ -----
Investing Activities
Purchase of property, plant and equipment (158.0) (175.2)
Long-term receivable 86.5 87.1
Other 0.2 (0.7)
--- ----
Net cash (used in) investing activities (71.3) (88.8)
----- -----
Financing Activities
Proceeds from revolving credit facility 300.0 75.0
Payments on revolving credit facility (300.0) (75.0)
Proceeds from issuance of debt - 8.8
Proceeds from issuance of bonds 293.4 -
Proceeds from government grants 0.7 1.6
Principal payments of debt (5.8) (11.9)
Debt issuance and financing costs (17.2) (6.8)
----- ----
Net cash provided by (used in) financing
activities 271.1 (8.3)
----- ----
Effect of exchange rate changes on cash
and cash equivalents 1.7 (5.2)
--- ----
Net increase (decrease) in cash and cash
equivalents for the period (9.8) 44.3
Cash and cash equivalents, beginning of
the period 216.5 133.4
----- -----
Cash and cash equivalents, end of the period $206.7 $177.7
====== ======
>>
SOURCE: Spirit AeroSystems
Investor Relations, Alan Hermanson, +1-316-523-7040, or Media, Debbie Gann, +1-316-526-3910, both of Spirit AeroSystems Web Site: http://www.spiritaero.com
Tags: aerospace aircraft bonds business ceo commercial consumer confidence contract corporate debt defense earnings economy epidemic equity europe family financial results forecasts foreign exchange government grants interest rates labor law manufacturing market nyse plant president prices products property rates recession regulations research research and development respiratory revenue sales schedule ship strike tax taxes track unions
Companies: Spirit Aerosystems Holdings Inc (SPR)
CALGARY, Alberta, Oct 30, 2009 (GlobeNewswire via COMTEX) --
Skymark Research, a leading provider of large-cap, small- and micro-cap independent investment research, today initiated coverage on Boeing (NYSE:BA). Skymark Research is currently offering a complimentary trial subscription. To view our research go to: www.skymarkresearch.com
About SMR:
Skymark Research is a leading provider of independent investment research in North America. Our services include research analysis on the small- and micro-cap markets, real-time news and financial data, market commentary and the SMR newsletter. Skymark Research's staff of small-cap investment professionals is dedicated to providing the small market's investment community with the tools and avenues necessary to make the important investment decisions. To view our research reports on a complimentary trial basis and take advantage of our other services, go to www.skymarkresearch.com and click on the complimentary trial subscription button on our home page, or go directly to our registration page at www.skymarkresearch.com/signup.php
About Boeing (NYSE:BA)
Boeing (NYSE:BA): is the world's leading aerospace company and the largest manufacturer of commercial jetliners and military aircraft combined. Additionally, Boeing designs and manufactures rotorcraft, electronic and defense systems, missiles, satellites, launch vehicles and advanced information and communication systems. As a major service provider to NASA, Boeing operates the Space Shuttle and International Space Station. The company also provides numerous military and commercial airline support services. Boeing has customers in more than 90 countries around the world and is one of the largest U.S. exporters in terms of sales.
SMR Disclosure:
Skymarkresearch.com is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell any securities. Skymark Research has not been compensated by any of the above mentioned companies. Please read our report and visit our Web site, www.skymarkresearch.com, for complete risks and disclosures.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Skymark Research
CONTACT: Skymark Research Dylan Boyle 202-657-6249 info@skymarkresearch.com
Tags: advisor aerospace aircraft airline commercial community defense investment manufacturer market micro cap military nasa north america nyse research sales securities small cap subscription trial web
Companies: Boeing Co. (BA)
LONDON, Nov 03, 2009 (M2 PRESSWIRE via COMTEX) --
Continental Airlines' first aircraft with new flat-bed BusinessFirst seats took to the skies on Sunday, operating as flight CO98 from Hong Kongto New York/Newark.
The aircraft, a Boeing 777 used on long-haul international routes, is the first aircraft type in Continental's fleet to receive the new seats. The company will also install the flat-bed seats on its Boeing 757-200 and 767-400 aircraft, and on its Boeing 787 fleet as the aircraft are delivered to Continental.
"We began designing this seat three years ago, involving our customers and numerous other experts to get it just right and I couldn't be more pleased with the end result," said Larry Kellner, chairman and chief executive officer of Continental Airlines. "This is a great seat and I am excited to see more of them on flights throughout our system."
Flat-Bed Seat Reclines 180-Degrees
Continental's new BusinessFirst seats allow customers to lie completely flat, reclining 180-degrees and providing 6 A 1/2 feet (2 meters) of sleeping space in the fully extended position. Electronic controls enable customers to easily move the seat to an infinite number of adjustments, including lumbar support and fully extended sleep positions. Laptop power, headset and USB plugs are conveniently tucked above the customer's shoulder and iPod connectivity is also available at the seat. The seats feature 15.4-inch video monitors.
Perfecting Design Since Autumn 2006
Continental's product marketing team began researching new seat options in the autumn of 2006 when planning BusinessFirst service for the new 787 Dreamliner aircraft. The airline visited with numerous seat manufacturers worldwide before selecting BE Aerospace, which created five different design concepts. Concurrently, Continental sought feedback from a focus group of BusinessFirst frequent flyers that identified and prioritised key needs of global travellers and worked closely with the airline's project team and the seat manufacturer to help create the new seat. The important features requested by the focus group were to install a wider seat that could lie completely flat and be easy to operate.
Continental currently operates the Boeing 777 on routes between Newarkand Beijing, Shanghai, Delhi, Frankfurt, Hong Kong, London/Heathrow, Mumbai, Paris, Rome, Tel Aviv and Tokyo, and between Houstonand London/Heathrow, Amsterdamand Tokyo.
Continental uses the Boeing 767-400 on routes between Newarkand Brussels, Paris, Frankfurt, Genevaand Honolulu; between Houstonand Frankfurt, Paris, Rio de Janeiroand Honolulu; and between Guam and Honoluluand Narita.
BusinessFirst on the Boeing 757 is currently offered on routes between Newarkand Amsterdam, Barcelona, Belfast, Berlin, Birmingham, Bristol, Copenhagen, Dublin, Edinburgh, Glasgow, Hamburg, Lisbon, London/Heathrow, Madrid, Manchester, Oslo, Paris, Shannon and Stockholm.
Notes to editors:
Continental Airlines (continental.com), celebrating its 75th anniversary this year, is the world's fifth largest airline. Continental, together with Continental Express and Continental Connection, has more than 2,400 daily departures throughout the Americas, Europe and Asia, serving 130 domestic and 132 international destinations. Continental is a member of Star Alliance, which provides access to more than 900 additional points in 169 countries via 24 other member airlines. Across the Atlantic, Continental operates up to 312 departures weekly from 29 airports in 16 countries to its U.S.gateway hubs at New York, Houstonand Cleveland, with onward connections to more than 200 cities throughout North America, Latin America and the Caribbean. Fortune magazine ranked Continental as the top airline in its World's Most Admired Companies 2009, for the sixth consecutive year. At the OAG Airline of the Year Awards 2008, based on voting by frequent flyers around the world, Continental won the Best Airline Based in North Americaaward, for the fifth year in a row. Continental's alliance carriers in Europe, the Middle East and Indiainclude, in addition to Star Alliance carriers, Emirates, Kingfisher Airlines and Virgin Atlantic Airways.
Issued by Trimedia on behalf of Continental Airlines on 3 November 2009.
CONTACT: George Morrison / Susan Hutchinson, Trimedia Tel: +44 (0)20 7025 7500 e-mail: george.morrison@trimediauk.com e-mail: susan.hutchinson@trimediauk.com
((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.
Tags: aerospace aircraft airline asia beijing ceo editors e-mail europe frankfurt guam hong kong london madrid magazine manufacturer new_york north america paris shanghai Stockholm tokyo video web
Companies: Continental Airlines, Inc. (CAL)
Total : 1,031 View more »
More than 47 years after the first Boeing 707 jet airliner joined the Qantas fleet, the aircraft, previously known as City of Canberra, is set to make an historic return to Australia.
http://www.travelindustrywire.com/trends-detail-sid-25504.html
Soon, international travellers will be able to fly in what is arguably the most revolutionary seat system in the skies. The seats in Air Canada’s Executive First® suites, transform to a lie-flat bed at the touch of a button, to measure 191 cm long and 79 cm at the shoulders.
The combi aircraft, the first Dragonair has bought from Boeing, will be converted for all-cargo use by TAECO in Xiamen, China, and is scheduled to enter service at the end of this year.
Air Jamaica is the only airline that extends your client’s Jamaican holiday with our exclusive beachside check-in†. They’ll have extra time on the beach to catch some extra rays before catching their flight.
http://www.travelweekly.co.uk/Assets/GetAsset.aspx?ItemID=1894
Total : 7,540,000 View more »
Home page of The Boeing Company, featuring information about Commercial Airplanes, Integrated Defense Systems, Boeing Capital Corporation, Phantom Works and more.
Boeing Employment. The Boeing Company is at the heart of modern aviation and space travel. The principal areas of operation include commercial airplanes, military aircraft, defense ...
... 2009-01-27. ^ First Airlines and UOP Join Algal Biomass Organization, Green Car Congress, 19 June 2008. ^ Air NZ sees biofuel salvation in jatropha. ^ Lobbying database, Boeing Co.
Information about Boeing Co. ... RSS feeds allow Web site content to be gathered via feed reader software.
Search Results Your search for Arabian Hotel Investment Conference found the following documents (of 23029 documents searched): Displaying documents 76-80 of 157, with best matches first: