Rising Expenses Pose Profits Erosion Threat: Multiple Organizations Caution on Escalating Costs

September 15, 2023

An American Airlines 787 is loaded with cargo at Philadelphia International Airport. Leslie Josephs/CNBC Numerous companies are cautioning that soaring fuel costs and increased employee wages will impact their profits this quarter. Companies spanning from aerospace manufacturers to package delivery leader UPS are grappling with significant labor agreements. Furthermore, unions representing workers from the automotive …

American Airlines and Spirit Airlines revise summer profit forecast due to escalating costs

September 14, 2023

An American Airlines plane takes off above Spirit Airlines planes and other aircraft at Los Angeles International Airport (LAX) on June 1, 2023 in Los Angeles, California. Mario Tama | Getty Images American Airlines and Spirit Airlines on Wednesday joined other carriers in cautioning about potential profit challenges during the busy summer quarter. American Airlines …

Pratt & Whitney Engine Problem: RTX to Incur $3 Billion Charge

September 11, 2023

Model of a Pratt & Whitney GTF engine is displayed at the 54th International Paris Air Show at Le Bourget Airport near Paris, France, June 20, 2023. Benoit Tessier | Reuters RTX announced on Monday that it will face a $3 billion impact on its pretax results this quarter due to an engine manufacturing flaw, …

FAA Mandates SpaceX Starship Grounding: Urgent Call for Corrective Measures!

September 10, 2023

The Federal Aviation Administration (FAA) has announced that SpaceX is not yet cleared for another test flight of its Starship Super Heavy launch vehicle. This comes after the rocket exploded mid-flight during an April launch. The FAA’s investigation into the mishap has concluded, listing 63 corrective actions that SpaceX must take before being granted clearance …

FAA Delays Second Starship Super Heavy Test Flight for SpaceX

September 7, 2023

The Federal Aviation Administration (FAA) stated on Wednesday that SpaceX has not yet received clearance for another test flight of its Starship Super Heavy launch vehicle. The Washington Post | The Washington Post | Getty Images The FAA announced on Wednesday that SpaceX is still awaiting clearance for another test flight of its Starship Super …

Airlines Brace for Surging Fuel Expenses as Southwest Airline Adjusts Revenue Forecast

September 7, 2023

A bird flies by in the foreground as a Southwest Airlines jet comes in for a landing at McCarran International Airport on May 25, 2020 in Las Vegas, Nevada. Ethan Miller | Getty Images Major U.S. airlines raise concerns over the surge in jet fuel prices, which adds to their costs during the bustling summer …

Lawsuit alleges Bezos’ snubbing of Musk and SpaceX in satellite contract

September 1, 2023

Elon Musk, founder of SpaceX, left, and Amazon and Blue Origin founder Jeff Bezos. Getty Images An Amazon shareholder lawsuit alleges that the company disregarded SpaceX for lucrative satellite launch contracts due to Jeff Bezos’ personal feud with Elon Musk, who has long mocked Bezos’ space ambitions. Cleveland Bakers and Teamsters Pension Fund (CB&T) filed …

Labor unions are vigorously advocating for improved compensation and working hours—and achieving success

August 28, 2023

Members of the United Auto Workers union recently organized a rally and picket near a Stellantis plant in Detroit on August 23, 2023. This is just one example of workers across various industries taking a strong stance and demanding higher pay and improved quality of life. The COVID-19 pandemic, along with increased company profits, inflation, …

Airplane Deliveries to be Delayed due to Newly Discovered Flaw in Boeing’s 737 Max

August 27, 2023

A person with an umbrella walks by a Boeing 737 Max fuselage parked outside the company’s production facility in Renton, Washington, January 10, 2020. Lindsey Wasson | Reuters Boeing has announced a new manufacturing flaw on its 737 Max aircraft, which will cause delays in deliveries. This setback comes as Boeing strives to increase their …

NASA’s Crew-7 Astronaut Mission Takes Flight on SpaceX’s Launch

August 26, 2023

SpaceX’s latest mission is underway with the launch of the Crew-7 mission. The Falcon 9 rocket, carrying the company’s Crew Dragon spacecraft, is seen at Launch Complex 39A illuminated by the sunset. Credits: Joel Kowsky / NASA SpaceX successfully sent four astronauts to the International Space Station (ISS) from Florida as part of its 11th …