September 6, 2006 |
Boeing Co. will be docked $21.4 million in performance- based fees by the U.S. Air Force for cost overruns and delays on global positioning system satellite contracts, a program official said Tuesday. The decision is "based on a review of the contractor's performance compared with the fee criteria for this period," program manager Col. Wesley Ballenger said. Boeing confirmed that the money would be withheld. The program ran at least $266 million over budget and has had three years of delays.
August 24, 2006 |
Production at BP's Prudhoe Bay oil field was reduced by an additional 90,000 barrels a day when a problem was discovered in a compressor, the company said. That cut production at Prudhoe Bay from an already reduced 200,000 barrels to 110,000 barrels, BP Alaska spokesman Daren Beaudo said. It probably will take several days to complete the repairs, he said.
August 24, 2006 |
Chrysler Group, like rival Ford Motor Co., said it would reduce North American production of large pickups and sport utility vehicles in the fourth quarter. Most cuts will be made on the Dodge Durango SUV and Dodge Ram pickup, Chief Executive Tom LaSorda said. He would not provide specifics but said the reductions would not be as large as production cuts of 65,000 to 75,000 vehicles it was making in the current quarter. The U.S. arm of DaimlerChrysler said U.S.
August 9, 2006 |
Airbus said it had made 253 deliveries this year and taken 200 orders, boosted by strong interest at the Farnborough air show in Britain. The figures mean the troubled European plane maker is on track to deliver more aircraft in 2006 than rival Boeing Co. But Airbus is still expected to see its full-year orders lag behind those of the U.S. company -- for the first time in six years. Airbus has targeted 430 plane deliveries this year, up from 378 in 2005.
July 7, 2006 |
Boeing Co. said it delivered 97 commercial airplanes in the second quarter, bringing its total at the year's midpoint to 195, or just less than half of its full-year forecast. The maker of commercial planes, No. 2 to Airbus, needs 200 deliveries in the second half of the year to meet its estimate of 395 in 2006. The quarterly total consisted of 70 single-aisle 737s, 17 wide-body 777s, four 747s, three 767s and three 717s. Chicago-based Boeing delivered 98 commercial planes in the first quarter.
June 28, 2006 |
French regulators raided the Paris offices of Airbus parent European Aeronautic Defense & Space Co. on Tuesday, piling extra pressure on a company grappling to contain a fierce internal feud sparked by a costly delay to the A380 super-jumbo jet. EADS said French securities officials had visited its headquarters as part of a probe into share trading leading up to the mid-June announcement of A380 production delays and a profit warning that sheared a quarter of the value off its stock.
June 17, 2006 |
Airbus' woes worsened Friday as a top executive defended his sale of stock options worth $3.1 million months before share prices plummeted this week on news of delays in production of a new super-jumbo airliner. French regulators said Friday that they were investigating the sales in March by Noel Forgeard, co-chief executive of EADS, Airbus' parent company, and by his family and other executives.
June 16, 2006 |
Airbus parent company EADS will launch a probe into the latest delays of the super-jumbo A380 jetliner, its co-chairman said in an interview, amid mounting questions about the company's management and stock sales this year. Arnaud Lagardere, co-chair of European Aeronautic Defense & Space Co., said he had no knowledge of the production problems with the A380 -- the world's biggest passenger plane -- until Airbus made an announcement Tuesday, according to the newspaper Le Monde.
June 15, 2006 |
Shares of Airbus' parent plunged 26% on Wednesday -- wiping out nearly $7 billion in value -- after the world's largest aircraft maker lost a major order to U.S. rival Boeing Co. and announced a second production delay for its new super-jumbo jetliner, the A380. The sharp drop came as angry airlines confronted Airbus and parent European Aeronautic Defense & Space Co.