Tag: Transportation

2024-10-17

United Airlines (UAL) 3Q 2024 earnings

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A United Airlines Boeing 737-MAX 8 aircraft departs at San Diego International Airport en route to New York on Aug. 24, 2024. Kevin Carter | Getty Images United Airlines said Tuesday that it is starting a $1.5 billion share buyback as the carrier reported higher-than-expected earnings for the busy summer travel season and forecast higher airfares into 2025. United…

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2024-10-15

Elliott asks for December special meeting at Southwest, cuts board slate

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Travelers check in at a Southwest counter at Hartsfield-Jackson Atlanta International Airport (ATL) in Atlanta, Georgia, US, on Tuesday, July 23, 2024. Elijah Nouvelage | Bloomberg | Getty Images Elliott Investment Management has requested a special meeting at Southwest Airlines, formalizing the launch of a long-signaled proxy fight for control of the carrier’s board. The activist is seeking a…

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2024-10-14

Boeing to cut 17,000 jobs as losses deepen during factory strike

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Boeing 737 MAX airliners are pictured at the company’s factory in Renton, Washington, on Sept. 12, 2024. Stephen Brashear | AP Boeing will cut 10% of its workforce, or about 17,000 people, as the company’s losses mount and a machinist strike that has idled its aircraft factories enters its fifth week. It will also push back the long-delayed launch…

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2024-10-10

Automaker expects 2025 earnings to be similar to 2024

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New GMC trucks are displayed on the sales lot at Hanlees Hilltop GMC in Richmond, California, July 2, 2024. Justin Sullivan | Getty Images DETROIT — General Motors expects its 2025 adjusted earnings to be in a “similar range” to the company’s results this year, CFO Paul Jacobson said Tuesday during the company’s investor day. The Detroit automaker’s targeted…

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2024-10-09

GM ditching ‘Ultium’ name for batteries, tech amid EV changes

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General Motors revealed its all-new modular platform and battery system, Ultium, on March 4, 2020 at its Tech Center campus in Warren, Michigan. Photo by Steve Fecht for General Motors DETROIT — General Motors will drop the name “Ultium” for its electric vehicle batteries and supporting technologies after spending years promoting the brand as it rethinks its EV and…

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2024-10-05

Rivian lowers production forecast, misses Q3 delivery expectations

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Workers assemble second-generation R1 vehicles at electric auto maker Rivian’s manufacturing facility in Normal, Illinois, U.S. June 21, 2024.  Joel Angel Juarez | Reuters Shares of Rivian Automotive dropped by as much as 8.9% in intraday trading Friday after the electric vehicle startup delivered fewer vehicles in the third quarter than analysts had expected and lowered its annual production…

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2024-10-05

Workers agree to tentative deal on wages, contract extension

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A major union for U.S. dockworkers and the United States Maritime Alliance agreed on Thursday to a tentative deal on wages and have extended their existing contract through Jan. 15 to provide time to negotiate a new contract. The move ends a strike that had snarled East Coast and Gulf Coast ports since the beginning of the week and…

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2024-09-27

Inside Southwest’s plan for its future

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A Southwest Airlines Boeing 737-700 aircraft lands at Ronald Reagan Washington National Airport in Arlington, Virginia, on May 7, 2023. Nicolas Economou | Nurphoto | Getty Images DALLAS — Southwest Airlines executives on Thursday outlined for Wall Street their vision to boost profits: extra legroom seats starting in 2026, assigned seating, international partnerships and overnight flights. Southwest’s new plan…

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