Boeing's cash crunch, American's longest flight, and getting over Spirit: Airlines news roundup
American Airlines took a really long flight. The government has provided an official definition of “canceled flight.” Boeing is building up its coffers as its machinists’ strike drags on. Plus: Allegiant Airlines has given an update on its Florida resort business after the property got struck by two hurricanes.
Take a moment to catch up on what’s been happening in the world of airlines and aviation.
American Airlines just flew its longest flight ever
American Airlines (AAL) had its longest flight ever this weekend. WFAA (DIS), the local ABC affiliate in Dallas, Texas, reports that the company sent a plane from Dallas, Texas, to Brisbane, Australia on Sunday. Brisbane Airport even hosted a live stream of the event, which was the first time that American had traveled that particular route, coded AA7.
The Boeing strike is an existential threat, Boeing says
As it treads water awaiting the end of its machinists’ strike, Boeing (BA) just formally announced Monday that it’s raising $19 billion in a stock offering. The prospectus for that share sale lays out exactly how immensely the work stoppage looms in its conception of the future.
A ‘canceled flight’ has an official definition for the first time ever
Most people understand that when a flight they were expecting to take doesn’t take off, the flight has been “canceled.” But when flyers would try to get a refund for those not-happening flights, they’d sometimes run into trouble getting their money back because the airline would have a different definition of “canceled.” Now, that’s changing.
JetBlue and Frontier still can’t get over Spirit Airlines
JetBlue Airways (JBLU) and Frontier Airlines have a lot of unfortunate things in common lately. Both presented third-quarter earnings Tuesday, and both their stock prices are tanking. Plus, both companies’ financial statements are talking about Spirit Airlines (SAVE), the two carriers’ mutual ex.
Boeing’s stock sale went surprisingly well
Boeing (BA) needs a lot of cash — and quickly — as it figures out how much longer it can hold out without making a deal to bring its striking machinists back to work. Wall Street decided to give the company the money, and then some.
Boeing allegedly ripped off the government by overcharging almost 8,000% for soap dispensers
The U.S. military wants some answers from Boeing (BA) over some fiscal funny business involving cleaning supplies. An audit released by the Department of Defense on Tuesday found that the company was overcharging the government for spare soap dispensers on C-17 cargo planes.
A sleeping United Airlines passenger was beaten bloody by fellow flyer
A disabled passenger was assaulted during a United Airlines (UAL) flight from San Francisco to Washington, D.C., earlier this week. KGO-TV (DIS), the local ABC affiliate in the San Francisco Bay Area, reports that the passenger, who is hard of hearing and non-verbal, was beaten by a fellow flyer so badly that blood was splattered around the cabin.
Allegiant Air doesn’t know how badly Hurricane Milton messed it up
The budget carrier Allegiant Air (ALGT) released earnings Wednesday, reporting a $36 million loss on $562 million in revenue. The numbers were worse than Wall Street was expecting, and it wasn’t the only bad news for the airline, which provided an update on the often-unfortunate Sunseeker Resort project in the Sunshine State.