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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.

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.

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.

Travel News | eTurboNews

eTN Hero: Cordelia Igel, team leader at Vox Restaurant, Grand Hyatt Hotel Berlin

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Many of us traveling around the globe on business have travel stories to tell. I spend more than 100 fully-paid nights every year in Hyatt Hotels around the world. Doing this, you get to know a brand more closely.

I am collecting my own list of heroes and honoring each of them eTN Heroes. You cannot buy eTN Heroes, and this title is a publisher’s recommendation based on personal experience.

I realize there are so many heroes in the hospitality industry and even more in the rest of the travel and tourism industry, so my personal experience is only a very small token of well-deserved recognition.

Today, I would like to introduce Cordelia Igel, a senior team leader at Vox Restaurant at the Grand Hyatt, Berlin, Germany as the latest eTN Hero.

Travelers like me experience hotels as a second home. When something doesn’t make sense, I am always outspoken and hope my criticism is heard. I want the businesses that cater to my travel to do well.

Loving my espresso every day is a passion many fellow travelers share. For me, it doesn’t make sense when international hotels cannot see that good espresso is a major selling point. For me, it’s a major buying point when selecting a hotel.

For example, I stopped staying at the Marriott Newark Airport where the Starbucks in this hotel is only open from 6 am to 10 am.

It boggles my mind because people come in 24 hours a day because after all, it’s an airport hotel.

With travelers arriving or leaving this hotel don’t always go by Eastern Standard time.

A good cup of coffee becomes as important as a good bed or a hot shower.

The same goes for food. I select hotels where I can get my breakfast, lunch, or dinner 24/7 because my body time clock is not always synchronized with the time in the destination.

Mistakes happen, especially when you’re jetlagged. One of the worst was when I picked up a suitcase that belonged to another passenger in Tokyo after arriving from Abu Dhabi and showed up at the Grand Hyatt Tokyo with the wrong luggage. Takashi Kai, Assistant Manager at the Grand Hyatt Tokyo, was my first eTN Hero that day and managed this impossible and frustrating situation for me.

Here why I am so thankful to Cordelia Igel, the senior team leader at Vox Restaurant at the Grand Hyatt Berlin, my latest eTN Hero.

In March during ITB  I stayed at the hotel for 8 nights.

The hotel has a fantastic breakfast and a great pool/gym area along with a very central and exciting location close to Potsdamer Platz.

Rooms are a little small and average in Berlin, but acceptable. I may have been spoiled. I stayed at the Hyatt Haus Duesseldorf before arriving in Berlin during the same trip and also one night at the Park Hyatt Hamburg and loved my apartment and hotel suite. My apartment at Duesseldorf Hyatt Haus was over the top – washer, dryer, living room, bedroom, and an outside patio with a million dollar view, and enough space to entertain 100 people.

Here is why Cordelia at the Grand Hyatt Berlin is my hero. Attending a very busy trade show is always a challenge when managing a busy scheduled and sleep. My morning espresso is of utmost importance. In the past, when staying at the Grand Hyatt Hotel in Berlin, I went to Starbucks across the street from the hotel, but this year, Starbucks was no longer there.

What were my options? As a Globalist member in the Hyatt loyalty program, my breakfast is always included. Hyatt Germany is not one of the hotels forcing Globalists to take their breakfast only in the Club lounge.

The continental breakfast at the Hyatt Grand Clun is usually not comparable with the wide variety of food found at VOX restaurant.

So everything was perfect in the morning, right? Wrong!

When trying the Club lounge espresso, I should have known it wasn’t up to my standards as it was served from a push-button machine. However, not all Grand Clubs are the same. At the Grand Hyatt Seoul, Korea the Espresso machine is the best I found in the Hyatt system so far.

At the Grand Hyatt Berlin, when dining in the hotel’s 5-star restaurant VOX, a 3-star espresso is served from a push-button machine.

When I asked the lead server, Cordelia, why they are serving such a superb breakfast and offer only a push button machine-made espresso she offered a solution.

The only good espresso machine in the hotel not using push-buttons was at the hotel bar. Cordelia went to the hotel bar and personally hand-crafted a cup of real espresso for me. She also managed to bring it back within one minute after pouring. Magical!

Every morning after that, Ms. Igel knew what to do. And for that extra touch of service and not hesitating a second to go above and beyond, Vielen Dank Frau Igel, you are my eTN Hero today.

 

 

 

 

Travel News | eTurboNews

Plane spotted in California has the size of a football field

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The world’s largest airplane made its first test flight on Saturday in California.

Stratolaunch Systems Corporation, founded by Paul G. Allen, today successfully completed the first flight of the world’s largest all-composite aircraft, the Stratolaunch. With a dual fuselage design and wingspan greater than the length of an American football field, the Stratolaunch aircraft took flight at 0658 PDT from the Mojave Air & Space Port.

Achieving a maximum speed of 189 miles per hour, the plane flew for 2.5 hours over the Mojave Desert at altitudes up to 17,000 feet. As part of the initial flight, the pilots evaluated aircraft performance and handling qualities before landing successfully back at the Mojave Air and Space Port.

“What a fantastic first flight,” said Jean Floyd, CEO of Stratolaunch. “Today’s flight furthers our mission to provide a flexible alternative to ground launched systems. We are incredibly proud of the Stratolaunch team, today’s flight crew, our partners at Northrup Grumman’s Scaled Composites and the Mojave Air and Space Port.”

The test team conducted standard aircraft testing exercises. Initial results from today’s test points include:

  • Performed a variety of flight control maneuvers to calibrate speed and test flight control systems, including roll doublets, yawing maneuvers, pushovers and pull-ups, and steady heading side slips.
  • Conducted simulated landing approach exercises at a max altitude of 15,000 feet mean sea level.

The Stratolaunch aircraft is a mobile launch platform that will enable airline-style access to space that is convenient, affordable and routine. The reinforced center wing can support multiple launch vehicles, weighing up to a total of 500,000 pounds.

“We all know Paul would have been proud to witness today’s historic achievement,” said Jody Allen, Chair of Vulcan Inc. and Trustee of the Paul G. Allen Trust. “The aircraft is a remarkable engineering achievement and we congratulate everyone involved.”

It landed safely back at the Mojave Air and Space Port as a crowd of hundreds of people cheered.



Travel News | eTurboNews

Ethiopia, Rwanda and Uganda: Top 10 improved world travel destinations

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Three Eastern African nations have emerged among the top ten fastest-growing destinations for tourism in the world.

The 2019 annual report compiled by the World Travel and Tourism Council (WTTC) shows that Ethiopia is the fastest-growing travel destination in the world with Rwanda in sixth place and Uganda holding a twelfth position on the list.

Ethiopia’s tourism sector grew by a staggering 48.6 percent in 2018, making up 9.4 percent of the economy and creating 2.2 million jobs. Over 8 percent of Ethiopia’s total workforce now works in tourism.

Rwanda also saw growth rates of 13.8 percent and Uganda 11.3 percent, with all 3 showing the pull of East Africa both in terms of its wildlife, history, and beaches, the Nation Media Group reported from Nairobi.

Kenya also saw a big growth in 2018  at 5.6 percent  which had created 1.46 million jobs and made up 8.8 percent of the total annual economy.

Kenya stands as the leading tourist hub in Eastern Africa, taking an advantage of its rich wildlife, historical sites, and beaches on the Indian Ocean coast and improved tourist services, mostly hotels and air transport facilities.

In its annual analysis quantifying the global economic and employment impact of travel and tourism in 185 countries and 25 regions, the World Travel and Tourism Council’s research reveals that the sector accounted for 10.4 percent of global GDP and 319 million jobs, or 10 percent of total employment in 2018.

It adds that travel and tourism’s growth in 2019 is expected “to remain resilient” despite a slowing global economy.

“Our forecasts point to a 3.6 percent expansion for travel and tourism, faster than an expected global economy growth of 2.9 percent in 2019,” the report says.

It adds that one in 5 of all new jobs were created by travel and tourism over the past 5 years showing the growing importance of the sector to the global economy.

Travel and tourism GDP grew by 5.6 percent in 2018, significantly above the African economic growth rate of 3.2 percent.

This places Africa as the second fastest-growing region in 2018, behind only Asia-Pacific.

Such growth is partly explained by North Africa’s rebound from security crises as well as the development and implementation of policies that stimulate travel promotion.

Travel News | eTurboNews

“Plan For Our Kids” and “African Earth Lung” to launch at WTM Africa

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eTN Publisher Juergen Steinmetz talks to Professor Geoffrey Lipman Co-Founder of SUNx – STRONG Universal Network, about the development of “Plan For Our Kids” and the signature “African Earth Lung” to be launched during WTM Africa.

Steinmetz  

Hey Geoffrey, I wanted to get an update from SUNx for  WTM Africa

Lipman

Hi Thomas, we’re just rolling out “Plan for Our Kids” (PFOK)  launched at WTTC’s COP 24 event in Poland at the end of last year. Its goal is to create 100,000 STRONG Climate Champions by 2030 across all UN States. It’s a low cost, CSR linked program, with lifetime learning, from school through graduation into corporate training programs, and it will support Climate Friendly Travel ~ measured to manage: green to grow & 2050 proof to innovate. It will provide cloud connected online education, analytics and a heavy emphasis on innovation, to spread best practice around the system.

Steinmetz

Why is this different from what other organizations like WTTC or UNWTO do ?

Lipman

It’s complementary to all the excellent SDG related sustainability initiatives, of industry and government organizations – across the mobility, hospitality, technology spectrum.  PFOK is just totally focused on responding to eXistential Climate Change. Because if we don’t fix that, all the other stuff won’t matter. So, it targets the next generation of decision makers. And we are appealing to companies and communities who connect with them for the strategic engagement and financing support to make it happen. Industry leaders, financial services, technology innovators all have a massive stake in the future. SUNx is just a catalyst.

Steinmetz 

Why the next generation……… What about now?

Lipman

Climate change is a multi-generational issue. The last generation defined it: This generation recognized it. The next generation will be in the middle of it. They don’t have the institutional baggage and they will have the mindset to implement solutions.

But we have to start now – that’s the climate scientists’ message: that’s the economists’ message and that’s the Greta Thunberg message.

I kind of like the Titanic analogy.  At the end of the day we have to avoid the iceberg and if we do that the ship sails on, life carries on and evolves. But the ship takes a long time to change course – in the case of the Paris Agreement 5 years from 2015 inception to 2020 coming into force. 2030 to ramp up and integrate with the SDG’s And 2050 to stabilize at liveable weather conditions.

Steinmetz

OK why 100,000 STRONG Champions– or did you pull the number out of the air.

Lipman

Well it’s a significant target of educated thought leaders – even for a global  movement – but it’s basically the equivalent of 500 for every UN State. Even for a small island that’s not huge. For a big State we know it will spawn more. And we have a decade to put them in place. They’ll be the Greta Thunberg support system for our sector – helping ensure that Paris targets are met. What’s exciting is that we will be able to provide them with dynamic lifetime learning from our web portal, focused good practice from across the global climate resilience spectrum and a capacity to spread innovation on a real time basis.

Steinmetz    How Will you Finance such an Ambitious Program

Lipman

Visionary Corporate Sponsors from the Travel & Tourism sector and supporting industries, as well as far thinking public sector sources; will take it to scale, country by country. We have a Sponsor and Impact Investor program, as well as a country initiative that costs just 5000 Euro. And we operate as an NGO with low costs and high focus.

We’ve been fortunate to find our first Anchor Sponsor, of 12 we are seeking worldwide for 2019/2020 – and we are grateful to Robin Ingle for his willingness to step up to the plate so quickly. Our plan calls for one from each sub-sector – Transport: Hospitality: Travel Services: from each of 3 regions. Americas: Europe / Middle East/ Africa: Asia/Pacific. As well as one leader per UN State.

Our signature African Earth Lung will of course  require a much bigger Alliance, with much greater finance. But frankly it’s a once in a lifetime opportunity to do something that can have such clear global and local significance. I  saw it before at Rio 92 when Maurice Strong mobilized so much for the planet and a focus on the Amazon. We think this is our chance to help the world and the Congo Basin.

Steinmetz Will you ever stop this kind of corporate campaigning

Lipman

I doubt it.  I worked for IATA for the first 20 years of my career – a wonderful organization that instilled a sense of purpose –  its first Director General told a journalist when he was in his 90’s, that his days began by crawling out of bed to get the Times Newspaper from the doormat. He turned to the obituary column and if he wasn’t there, he got dressed & carried on with life. I’m kind of from that school of thought.

For more information on SUNx, please visit: https://www.thesunprogram.com/

3 min Video About SUNx

 

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