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Boeing scraps 2019 financial forecast, halts share buybacks in wake of 737 MAX disaster

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World’s biggest aerospace corporation was forced to pull its full financial forecast for the current year due to unresolved issues surrounding Boeing’s once best-selling 737 MAX aircraft.


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Boeing also announced plans to pause share buybacks, citing “a challenging time for our customers, stakeholders and the company.”

“Across the company, we are focused on safety, returning the 737 MAX to service, and earning and re-earning the trust and confidence of customers, regulators and the flying public,” Boeing Chairman and CEO Dennis Muilenburg said in a statement.

The manufacturer had previously posted a report on the first-quarter earnings that managed to fall in line with analysts’ expectations, while its revenue was slightly less than projected. Boeing’s earning per share totaled the expected $3.16 from January through March, while the revenue amounted to $22.92 billion against $22.98 billion forecasted by London-based provider of financial markets data Refinitiv.

Boeing stressed that the previous guidance didn’t reflect the impact of two crashes of the company’s flagship planes, leading to the grounding of all 737 MAX 8 jets by global regulators, lawsuits from some air carriers and a decline in market value.

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According to the producer, more than 135 test and production flights of updated software for the 737 MAX have been carried out so far.

Boeing’s bestseller crashed on March 10 not far from the Ethiopian capital of Addis Ababa six minutes after takeoff on the way to Nairobi, Kenya. The tragedy, which killed 157 people, marked the second crash involving the same jet model in less than six months. In October, the same type of aircraft, operated by Indonesia’s Lion Air, crashed in the Java Sea shortly after takeoff, claiming the lives of 189 people.

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eTN becomes a SUNx SDG 17 Partner calling for Climate Sanity in Tourism on Earth Day

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In nature, nothing exists alone is the message for Earth Day 2019. Announcing the public launch of its “SDG17 Partners Program” on Earth Day 2019, Professor Geoffrey Lipman co-founder SUNx, calls and president of the International Coalition of Tourism Partners (ICTP) asks the Travel & Tourism sector to join its “Plan For Our Kids” and take the “Climate Sanity” Pledge.

Professor Lipman, former Executive Director at IATA, President of WTTC and Assistant Secretary-General UNWTO, said:

“I’m confident that Travel & Tourism will play a leadership role in the global shift to a New Climate Economy: we just need a pathway for change and that lies in our faith in the next generation”

SUNx a legacy for Planetary Champion Maurice Strong has created a “Plan For Our Kids”, aiming to recruit 100,000 STRONG Climate Champions to advance its vision of a no Carbon 2050 sector totally compliant with the evolving goals of the Paris Accords.

He added “During the past year we have seen a welcome intensification of the pressures for a new commitment to Climate Sanity, which stops discussing whether climate change is existential and just gets on with solutions. That’s the common message from Greta Thunberg’s Friday’s for Futures and AOC’s Green New Deal: it’s the message from Earth Scientists and Nobel Economists: it’s the plea from Sir David Attenborough.

”Lipman concluded “SDG 17 Partners will share our long-term vision on the fact that Climate Change is eXistential and that we have to act NOW, as if this Earth Day is the first day of the rest of our lives. We all have different starting positions, based on our separate realities: but we have a shared goal of meeting the Paris Agenda and together taking a “No Carbon 2050 moonshot”. We can deliver Climate Friendly Travel ~ measured plans: green growth: 2050 no carbon proof “

Juergen Steinmetz president of the eTN Corporation said “We are proud to become a SUNx SDG 17 Partner and provide preferential support for this great cause. As long as I have known Geoffrey Lipman, he has been drumming home the message that Climate Change is eXistential and that if we don’t fix it now, it will fix us. We are in, and will use all our links, like ICTP and the African Tourism Board to support Climate Friendly Travel. going forward”.

For more on SUNx and its SDG 17 Partnership Program please contact: go to www.thesunprogram.com

What is Earth Day?

The first Earth Day on April 22, 1970, activated 20 million Americans from all walks of life and is widely credited with launching the modern environmental movement. The passage of the landmark Clean Air Act, Clean Water Act, Endangered Species Act and many other groundbreaking environmental laws soon followed. Twenty years later, Earth Day went global, mobilizing 200 million people in more than 190 countries and lifting environmental issues onto the world stage.

On April 22, 1970, millions of people took to the streets to protest the negative impacts of 150 years of industrial development.

In the U.S. and around the world, smog was becoming deadly and evidence was growing that pollution led to developmental delays in children. Biodiversity was in decline as a result of the heavy use of pesticides and other pollutants.

The global ecological awareness was growing, and the US Congress and President Nixon responded quickly. In July of the same year, they created the Environmental Protection Agency, and robust environmental laws such as the Clean Water Act and the Endangered Species Act, among many.

One billion people

Earth Day is now a global event each year, and more than 1 billion people in 192 countries now take part in what is the largest civic-focused day of action in the world.

It is a day of political action and civic participation. People march, sign petitions, meet with their elected officials, plant trees, clean up their towns and roads. Corporations and governments use it to make pledges and announce sustainability measures. Faith leaders, including Pope Francis, connect Earth Day with protecting God’s greatest creations, humans, biodiversity and the planet that we all live on.

Earth Day Network, the organization that leads Earth Day worldwide, has chosen as the theme for 2018 to End Plastic Pollution, including creating support for a global effort to eliminate primarily single-use plastics along with global regulation for the disposal of plastics.  EDN is educating millions of people about the health and other risks associated with the use and disposal of plastics, including pollution of our oceans, water, and wildlife, and about the growing body of evidence that plastic waste is creating serious global problems.

From poisoning and injuring marine life to the ubiquitous presence of plastics in our food to disrupting human hormones and causing major life-threatening diseases and early puberty, the exponential growth of plastics is threatening our planet’s survival.

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Soap bars around the world get a new life from Red Lion Hotels

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Based on US market statistics, the combined hospitality segment produces close to 440 billion pounds of solid waste per year. A great amount of this waste is made up of discarded soap and bottled amenities. However, through Clean the World’s Hospitality Recycling Program, these life-saving hygiene products can skip the landfill and, instead, be sent to one of Clean the World’s five Recycling Operations Centers where the products are sanitized, fully recycled, and given a second-life to help those in need. It’s a win-win for the hospitality industry, helping to reduce waste and transform lives around the world.

In celebration of Earth Day, Clean the World, dedicated to WASH (WAter, Sanitation and Hygiene) and global sustainability, is joining forces with RLH Corporation to collect and recycle gently-used bars of soap and bottled amenities at Hotel RL locations nationwide to help fight the spread of preventable diseases while preserving our planet.

“We are excited to collaborate with Clean the World,” said RLH Corporation SVP of Brand Strategy Amanda Marcello. “At Hotel RL, we are focused on the modern-day traveler, with core hotel elements that allow guests to immerse themselves in local culture while maintaining their connection to the world. We are always searching for opportunities to better our planet, the communities we live in and those around the world. With Clean the World, we will now be able to make a significant improvement in reducing the amount of waste our hotels produce while benefiting communities worldwide by recycling our bath amenities.”

Together, this Earth Day, Clean the World and RLH Corporation are bringing awareness to sustainable practices within the travel and hospitality industry. Eight Hotel RL locations adopting the Hospitality Recycling Program this week will begin recycling all soap and bottled amenities from over 1,600 guestrooms. In just one year, the Hotel RL portfolio of hotels is projected to provide over 6,700 pounds of soap and bottled amenities to Clean the World, resulting in the creation of an estimated 23,000 bars of newly-recycled soap to be distributed to those in need locally and globally.

“We are thrilled to join forces with RLH Corporation this Earth Day to share the importance of implementing new, eco-friendly approaches to daily operations that benefit and help to preserve our planet,” said Shawn Seipler, founder and CEO of Clean the World. “By diverting leftover soap and bottled amenities from landfills, RLH Corporation will not only help Clean the World provide health and hygiene programs to children and families around the world, but also set a great example of CSR and sustainability throughout the hospitality industry, encouraging others to help make a difference.”

Through this joint venture, newly-recycled bars of Clean the World soap will make their way to shelters, food banks and disaster relief initiatives in the United States, in addition to supporting hygiene education internationally through Clean the World Foundation’s WASH Education programming. Our global programming, in places like India, Kenya and Tanzania, has contributed to a 60 percent decrease in the rate of hygiene-related deaths in children under 5, helping to keep children healthy and in school.

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Japan’s first domestic passenger plane since 1960s to challenge Boeing and Airbus

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Mitsubishi Aircraft Corporation, an aviation unit of Japanese industrial giant, is planning to start deliveries of Japan’s first domestically-produced passenger plane since the 1960s as soon as next year.

The 88-passenger jet has a flight range of about 2,000 miles, while a smaller variant can fly up to 76 people for about the same distance. The MRJ (Mitsubishi Regional Jet) made its maiden flight in November 2015 with the first deliveries slated for mid-2020.

Mitsubishi Aircraft Corporation initially planned the first deliveries of the jet for 2008. However, the date was pushed back five times due to production difficulties. Orders for the aircraft that once totaled 474 units from US and Japanese carriers have been reportedly reduced to 407 jets so far.

The Japanese conglomerate, a longtime supplier of aircraft components to Boeing, invested over 600 billion yen ($5.36 billion) into MRJ as of March 2018 with another 200 billion yen ($1.8bn) expected to be pumped into the project by the end of 2020. In October, Mitsubishi announced plans to invest an extra 170 billion yen ($1.5bn) in capital into its aircraft unit, canceling 50 billion yen ($446mn) of the debt owed by the division.

The long-anticipated MRJ, which is designed for local air transportation, may become a peer competitor for such mainstays as Canada’s Bombardier, whose C Series regional planes are marketed as the Airbus A220, after the 2017 acquisition of the unit by the European aerospace giant. The Japanese jet is also expected to provide keen competition to Brazil’s Embraer that announced plans to create a joint venture for Embraer’s airliners in 2018.

The newcomers in the sector of regional air service, such as the Russian Sukhoi Superjet-100 and the Chinese Comac ARJ21, which are currently undergoing test flights, may also challenge Airbus and Boeing.

Mitsubishi is currently involved in legal proceedings with Montreal–based Bombardier. In October, the Canadian aircraft manufacturer filed a lawsuit, accusing the Japanese corporation of stealing secret information and causing Bombardier “to suffer irreparable financial loss.”

Mitsubishi counter-sued, saying that the Canadian aircraft producer had violated antitrust regulations through “a multifaceted scheme to expand its power within the regional jet market by impeding the entrance of a new competing aircraft.”

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Air Mauritius confirms it will resume flights to Seychelles after 15 years

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The Mauritian press has confirmed that Air Mauritius will return to Mahé the main island of Seychelles. It was several weeks since the rumor has been circulating, and finally the news site of the MBC (Mauritius Broadcasting Corporation) confirmed the news.

“Prem Sewpaul, head of communication at Air Mauritius has, confirmed the news.”

The Seychelles News Agency (SNA) has contacted Air Mauritius to find out when the Air Mauritius planes will begin to fly but was been told that for the moment sales are not yet available.

SNA contacted Seychelles’ civil aviation, which also confirmed the arrival of Air Mauritius, which would be the two days that Air Seychelles did not link the two islands.

“Air Mauritius has informed us of their intention to resume liaison with Seychelles in July, but we did not have confirmation,” said Florence Marengo, head of the transport department at the Seychelles Civil Aviation Authority (SCAA).

However, on the Seychellois side the Minister of Civil Aviation, Didier Dogley said last week that he had nothing official, but recognized that a Mauritian delegation was in the country.

He said at a press conference that if it were to be confirmed that this would not be good news for Air Seychelles.

The arrival of Air Mauritius will please travelers, who hope for a drop in the price of air tickets.

The Seychellois company Air Seychelles was the only airline doing this link and may now have to review its prices which are currently 400 € for two thirty hours of flight.

Air Seychelles, recovering from losses, which the Seychelles government had to reinvest, relied heavily on this link in its economic recovery plans.

Air Mauritius, which was already linking with Seychelles, decided more than 15 years ago to stop, for economic reasons.

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