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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.

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American Airlines to keep its Boeing 737 MAX jets grounded until August

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American Airlines has chosen to keep its fleet of Boeing 737 MAX grounded until at least August 19, even if it means canceling 115 flights a day in summer season, as probes into the troubled jet continue and new sales have frozen.

The company, which owns 24 of the embattled jets that were involved in two recent deadly crashes, announced the decision in a letter to employees and customers. AA wants to ensure reliability “for the peak travel season and provide confidence to our customers and team members when it comes to their travel plans,” Chief Executive Doug Parker and President Robert Isom wrote.

The 737 MAX 8 airliners were grounded worldwide after a fatal crash of an Ethiopian Airlines flight, which killed 157 people on board. The incident came months after a crash of the same model operated by Lion Air was apparently linked to the same faulty flight control system.

Parker and Isom have at the same time expressed confidence in Boeing’s ability to fix the problem through software updates and changes to pilot training procedures. The US airline has 24 MAX planes in its fleet and is expected to get 16 more delivered this year. The grounding has already resulted in the cancelation of about 90 flights per day through early June, and the extension may put a strain on American’s ability to meet demand for seats during upcoming peak travel season. As many as 115 daily flights will have to be canceled in August, according to the letter.

The crashes have left Boeing open to criticism over the way it certified the fast-selling model, conducting some of the tests in-house with the permission of the Federal Aviation Authority. Critics say the producer cut corners to fast-track the new model to the market, compromising flight safety as a result.

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Visitors to Walter E. Washington Convention Center encouraged to ask Alexa

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Through a strategic partnership between Events DC, the official convention and sports authority for the District of Columbia, and Volara, the voice hub for the hospitality industry, visitors to the Walter E. Washington Convention Center are finding their way around the facility and hosted events easier than ever before through an ever-familiar voice.

The new voice-based wayfinding solution atop Amazon Alexa is powered by Volara’s market-leading enterprise-grade conversation management technology. Inside the 2.3 million-square-foot building sits wayfinding kiosks that host the voice assistant. Visitors are encouraged to ask Alexa about happenings within the convention center and ask where to find meeting spaces, food-and-beverage outlets, the closest shoe shine, the business center and more. More than 50 kiosks featuring the Volara-powered solution on Amazon Alexa will greet visitors, and voice commands will extend outside the facility to local businesses, services and attractions.

“At the Walter E. Washington Convention Center, we aim to provide our customers with a memorable experience,” said Samuel Thomas, senior vice president and general manager of Events DC. “Most people are tech savvy, and they want to have real-time access to the information they need in a format they are most accustomed to using. We partnered with Volara to provide wayfinding on voice command. Now event goers can get their questions answered quickly without having to seek out staff; it’s quick and efficient. We aren’t replacing face-to-face employee interaction – customer service is our core value and the reason we engaged in this project. This voice technology enables us to scale personal service and gives our customers the option to get information their way. It’s exciting.”

Wayfinding is just the first step. Thomas said his team is working with Volara to add more commands to the voice assistant with the goal of personalizing experiences for visitors. Show organizers can customize or brand kiosks strategically placed in their event locations. Volara’s conversation management engine will then be leveraged to respond to voice prompts for each event. The convention center is considering selling kiosk sponsorships as a value-added service. An automobile manufacturer, for example, may want to sponsor all kiosks in the Convention Center during The Auto Show, providing a good revenue stream for the facility and making the event more interactive, informative and fun.

“When we tell customers about this voice initiative, they get really excited,” Thomas said. “We are always trying to find ways to reinvent ourselves and provide better services for customers, and technology is at the core. Recently we added smart furniture to the public areas that contain USB ports or standardized plugs to keep people connected. We are one of the first convention centers to offer free WiFi. And, through our strategic partnership with Digital Conventions, we now have the most robust digital signage program in the country. This voice project with Volara is yet another added service that we are providing to our customers. With the flexibility of Volara’s software, the sky is the limit.”

Lasan Coger, general manager of Digital Conventions, said he was intrigued when Thomas approached him about the wayfinding by voice command initiative. “A collaborative team from Events DC, Digital Conventions and Volara met and put our minds together to see how we could launch this program. It was challenging to get to where we are today, but everyone involved loved the challenge, and more importantly, we love the product. When we see the responses from attendees at our events, it validates what we are doing, and we can’t wait to expand this program.”

Volara provides platform agnostic voice-based conversation management software and a secure integrations hub to the hospitality venues. Its software turns the leading consumer voice assistants (Amazon Alexa, Google Assistant and IBM Watson) into a business tool that drives more efficient customer service, influences visitors’ behaviors, and improves net promoter scores. Volara is a launch partner for both Google Assistant Interpreter Mode and Alexa for Hospitality.

“We are thrilled to bring wayfinding on voice command to the Walter E. Washington Convention Center,” said David Berger, Volara CEO. “We see Convention Centers, Casinos, Malls, Stadiums, Amusement Parks or any venue that can benefit from wayfinding as an exciting vertical for Volara. This successful deployment is proof that Volara-powered voice assistants can make a venue more visitor friendly, easier to navigate and more efficiently operated. Today we have a waiting list of convention centers that are eager to deploy our solution. The interest is overwhelming.”

To learn more about Volara-powered voice assistant programs, visit volara.io.

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Boeing CEO: Safety is our responsibility, and we own it

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Boeing CEO Dennis A. Muilenburg issued the following statement in response to its 737 Max software, production:

As we work closely with customers and global regulators to return the 737 MAX to service, we continue to be driven by our enduring values, with a focus on safety, integrity and quality in all we do.

We now know that the recent Lion Air Flight 610 and Ethiopian Airlines Flight 302 accidents were caused by a chain of events, with a common chain link being erroneous activation of the aircraft’s MCAS function. We have the responsibility to eliminate this risk, and we know how to do it. As part of this effort, we’re making progress on the 737 MAX software update that will prevent accidents like these from ever happening again. Teams are working tirelessly, advancing and testing the software, conducting non-advocate reviews, and engaging regulators and customers worldwide as we proceed to final certification. I recently had the opportunity to experience the software update performing safely in action during a 737 MAX 7 demo flight.  We’re also finalizing new pilot training courses and supplementary educational material for our global MAX customers. This progress is the result of our comprehensive, disciplined approach and taking the time necessary to get it right.

As we continue to work through these steps, we’re adjusting the 737 production system temporarily to accommodate the pause in MAX deliveries, allowing us to prioritize additional resources to focus on software certification and returning the MAX to flight. We have decided to temporarily move from a production rate of 52 airplanes per month to 42 airplanes per month starting in mid-April.

At a production rate of 42 airplanes per month, the 737 program and related production teams will maintain their current employment levels while we continue to invest in the broader health and quality of our production system and supply chain.

We are coordinating closely with our customers as we work through plans to mitigate the impact of this adjustment. We will also work directly with our suppliers on their production plans to minimize operational disruption and financial impact of the production rate change.

In light of our commitment to continuous improvement and our determination to always make a safe industry even safer, I’ve asked the Boeing Board of Directors to establish a committee to review our company-wide policies and processes for the design and development of the airplanes we build.  The committee will confirm the effectiveness of our policies and processes for assuring the highest level of safety on the 737-MAX program, as well as our other airplane programs, and recommend improvements to our policies and procedures.

The committee members will be Adm. Edmund P. Giambastiani, Jr., (Ret.), former vice chairman, U.S. Joint Chiefs of Staff, who will serve as the committee’s chair; Robert A. Bradway, chairman and CEO of Amgen, Inc.; Lynn J. Good, chairman, president and CEO of the Duke Energy Corporation; and Edward M. Liddy, former chairman and CEO of the Allstate Corporation, all members of the company’s board. These individuals have been selected to serve on this committee because of their collective and extensive experiences that include leadership roles in corporate, regulated industries and government entities where safety and the safety of lives is paramount.

Safety is our responsibility, and we own it. When the MAX returns to the skies, we’ve promised our airline customers and their passengers and crews that it will be as safe as any airplane ever to fly. Our continued disciplined approach is the right decision for our employees, customers, supplier partners and other stakeholders as we work with global regulators and customers to return the 737 MAX fleet to service and deliver on our commitments to all of our stakeholders.

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1st Global Gastronomy Tourism Startup Competition: Who made the list?

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The 1st Global Gastronomy Tourism Startup Competition recognizes the contribution of startups in the development of a more competitive and sustainable gastronomy tourism sector that works towards achieving the 2030 Sustainable Development Agenda and its 17 SDGs.

The World Tourism Organization (UNWTO) and Basque Culinary Center (BCC), with the support of PromPeru have announced the finalists of the 1st Global Gastronomy Tourism Startup Competition, which recognize disruptive, inspirational projects having made an invaluable contribution to innovation in gastronomy tourism.

Over 300 initiatives were submitted from over 84 countries. Finalists were selected from Japan, Spain, Israel, Italy and the Czech Republic, ranging from new technologies, community-based tourism development projects, software initiatives and innovation-driven agricultural sustainability projects; all contributing to the advancement of the Sustainable Development Goals (SDGs).

The five selected startups will present their pitches to investors, gastronomy tourism experts and sector stakeholders within the framework of the 5th UNWTO World Forum on Gastronomy Tourism (San Sebastian, Spain) on 3 May 2019 where the winner will be selected by a jury.

The winning startup will be invited to take part in the Culinary Action accelerator programme during the second semester of 2019, where it will benefit from the mentoring and advice of the network of experts of BCC Innovation, a workspace in LABe’s Digital Gastronomy Lab project incubator, and a grant of up to 5,000 euros to cover the cost of accommodation and travel during this period.  All finalists will also be invited to present at the Ibero-American Gastronomy Fair (Miami, USA, 9-11 May 2019).

List of Finalists (in alphabetical order):

  1. ARB (Italy)

ARB provides farms, institutions, organisations and associations with technical assistance and support for multifunctional agriculture, diversification of agricultural activities, and innovation projects in agriculture.

  1. ARTHYLEN (Spain)

ARTHYLEN combines deep-learning and augmented reality technologies to facilitate the recognition of fresh products exposed in supermarkets, restaurants or warehouses in real time for hotels and restaurants.

  1. BITEMOJO (Israel)

Bitemojo is an award-winning innovative mobile app that offers a self-guided culinary experience via smartphone.

  1. DINIFY (Czech Republic)

Dinify offers a multilingual menu platform in which restaurants can publish and manage menus in multiple languages in order for travelers to read and order from restaurant menus in their native languages, no matter where they are and what their languages are.

  1. GINKAN (Japan)

GINKAN (SynchroLife) is the world’s first social restaurant review app with artificial intelligence based restaurant recommendations and cryptocurrency token rewards.

List of Semi- Finalists (in alphabetical order):

  1. BOTBOT (Singapore)
  2. CLOUDSALE (Lebanon)
  3. COOKLY (Thailand)
  4. CULTIVIUM (Mauritius)
  5. DINEER (Brazil)
  6. ECOMMUNIA PLANET(Spain)
  7. ESCAPPY TRAVEL (Colombia)
  8. FOLLOW THE FOLK (Spain)
  9. GET UP AND GO COLOMBIA (Colombia)
  10. KIMEGASTROBOT (Spain)
  11. LIMAFOODANDBOAT(Peru)
  12. LINGVO&FOOD (France)
  13. PLANT ON DEMAND  (Spain)
  14. POLOGASTRONOMICO (Portugal)
  15. TERTULIA ALGARVIA (Portugal)

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