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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.

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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.

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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Mr. C Coconut Grove: South Florida’s newest boutique hotel officially opens

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Mr. C Coconut Grove, the first Mr. C hotel to debut in Florida, has officially opened its doors to begin welcoming guests. Mr. C Coconut Grove is the third property operated by the Cipriani brothers, who currently operate a 138 key luxury property in Beverly Hills, California and a 66 key luxury property located in the lower Manhattan neighborhood of the Seaport District New York.

“We are excited to officially welcome guests to experience Mr. C Coconut Grove and Bellini in the heart of one of Miami’s most culturally-rich neighborhoods,” said Ignazio Cipriani, Founder/President of Mr. C Hotels. “Our partners, staff, and management are proud to contribute to the revitalization of the Coconut Grove community.”

Accommodations at the well-appointed hotel include 100 guestrooms and suites with unmatched views of Biscayne Bay and the Coconut Grove skyline from the furnished room terraces. From its interior, the hotel draws inspiration from Italy’s iconic coastal style and hints at the aesthetic elements of a classic yacht. Interior design includes high gloss timber paneling, leather-upholstered blue and caramel headboards, nautical style dressers, playful and comfortable sofas and armchairs in a range of soft and airy blue and white fabrics throughout the space. Acclaimed architecture and design firm, Arquitectonica, in conjunction with the Martin Brudnizki Design Studio, combined the stylish European glamour and nautical aesthetic Mr. C Hotels are best known for with the tropical surroundings of South Florida.

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Austrian Airlines launches new Montreal-Vienna route

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Austrian Airlines announced the launch of a year-round flight service to and from Montreal/Vienna beginning April 29th, 2019.

The long-haul flight will be operated by the airline’s Boeing 767 aircraft.

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United Airlines plans nonstop service between New York/Newark and Cape Town

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United Airlines today applied with the U.S. Department of Transportation for authority to begin new service between New York/Newark Liberty International Airport and Cape Town International Airport. United plans to operate nonstop three-times weekly flights to Cape Town starting in December 2019.

“We are always looking at ways to expand our industry-leading international route network to offer our customers more convenient options. We’re thrilled to announce the addition of Africa to our global route offering,” said Patrick Quayle, United’s vice president of International Network. “This new flight will provide customers with the only nonstop service between the United States and Cape Town.”

United’s nonstop service between New York/Newark and Cape Town will decrease the current travel time from New York to Cape Town by more than four hours and provide customers from more than 80 U.S. cities with easy one-stop access to Cape Town. If approved, United’s service between New York/Newark and Cape Town will be operated with Boeing 787-9 Dreamliner aircraft featuring 48 seats in United Polaris business class, 88 seats in United Economy Plus and 116 seats in United Economy.

Proposed Flight Schedule, Beginning December 15, 2019*

From To Depart Arrive Aircraft
New York/Newark Cape Town 8:30 p.m. 6:00 p.m. +1 Boeing 787-9
Cape Town New York/Newark 8:50 p.m. 5:45 a.m. +1 Boeing 787-9

*Subject to government approval

Cape Town is the oldest city in South Africa and the country’s center of trade and commerce. Located at the shore of Table Bay, the city is home to some of the most popular attractions in South Africa including Table Mountain, Kirstenbosch Botanical Gardens and the Victoria and Alfred Waterfront. Travelers to South Africa often begin their African journey in Cape Town before touring the Cape Winelands, viewing the African penguins at Boulder Beach or traveling beyond Cape Town to explore South Africa’s natural beauty including its many national parks, game reserves and beautiful coastlines and beaches of the KwaZulu-Natal and Western Cape provinces.

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Excellence Group Luxury Hotels & Resorts rebranded

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With a mission to exceed guests’ highest expectations in every aspect possible, Excellence Group Luxury Hotels and Resorts has become the Caribbean’s most trusted name in all inclusive luxury travel. The family-owned and -operated group, which owns and manages five-star, award-winning resorts in Mexico, the Dominican Republic, and Jamaica, will continue to deliver stunning properties and unmatched service as it enters its next chapter with The Excellence Collection.

The Excellence Collection will encompass the group’s three high end brands: the adults-only Excellence Resorts with all inclusive properties in Cancun, the Riviera Maya, Punta Cana, and Montego Bay; Beloved Hotels for boutique adults-only all inclusive escapes; and Finest Resorts offering modern all inclusive luxury for all ages.

With last year’s opening of Excellence Oyster Bay and plans for a Finest Punta Cana in 2020, the company has focused on new ways to meet the ever-changing needs of the market, and has created The Excellence Collection to do so. The Excellence Collection brings a new brand identity with modern, updated logos and dedicated hyperfocus on the unique offerings of each of group’s properties.

These new elements mark an important milestone for the hospitality group, which has been experiencing rapid growth in the last decade. With three key pillars of Bespoke Service, Extraordinary Moments, and Innovative Curation at the core of The Excellence Collection, the parent brand is a promise made to each and every Excellence Collection guest.

“The Excellence Collection is an evolution of Excellence Group Luxury Hotels & Resorts. Our three pillars have been thoughtfully defined, with the end goal to deliver an authentic experience that lasts well beyond the guests’ stay. We do so through a personal and curated approach to luxury,” said The Excellence Collection’s Vice President of Sales & Marketing, Mr. Domingo Aznar.

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