Delta wrestles with too many pilots, too many planes

Delta Air Lines expects to have 7,000 more pilots than it needs in the fall as the coronavirus pandemic weighs on its operations, according to a memo to flight operations employees seen by Reuters. Conway G. Gittens has the details......»»

In this article, we will take a look at the 11 best airline stocks to invest in right now. To see more such companies, go directly to 5 Best Airline Stocks to Buy Now. Air travel industry is in recovery mode with the easing of COVID-19 restrictions and the opening of the global economy. Unlike […] In this article, we will take a look at the 11 best airline stocks to invest in right now. To see more such companies, go directly to 5 Best Airline Stocks to Buy Now. Air travel industry is in recovery mode with the easing of COVID-19 restrictions and the opening of the global economy. Unlike in the past three years, there has been a shift with most travelers opting for international travel, something that is helping airlines draw in big revenues from air travel fees and ticket sales. The pandemic brought many challenges as the travel industry came to a standstill. Many airlines plunged into debt and lost a combined $200 billion between 2020 and 2022. It’s only now that most are slowly returning to profitability as they salivate to serve travel-deprived consumers with the easing of travel restrictions worldwide. Major airlines led by United Airlines, Delta, and American Airlines continue to rake in huge profits owing to passengers’ willingness to pay higher fares supported by increasing travel demand. The airlines have also benefited from a shortage of airplanes and pilots, allowing them to charge a premium on travel fees without much resentment. Nevertheless, the increase in consumer spending on travel and entertainment remains one of the biggest catalysts for the airline industry. The average cost of flying in the US has increased significantly to historic highs in the industry, bouncing back from the pandemic turmoil. The consumer price index for airline tickets is already up by more than 20% for the year, representing the largest jump since the Federal Reserve started racking the index. Executives from the major airlines expect air travel fares to continue increasing in response to the high demand amid a shortage of planes. Similarly, the executive expects demand for air travel to surge despite the ever-growing risk of recession. Despite the high cost of traveling amid the high inflation and interest rate environment, people continue to make travel arrangements. A Bank of America study showed that spending at airlines and travel agencies is already by more than 60% for the year as more people continue to make travel arrangements. Nearly two out of every adults plan to take a vacation before year-end, with most shrugging off the rising prices and interest rates. “This year, as prices and interest rates continue to push higher, we’re seeing more signals that vacationers are adapting their plans. Many are still going somewhere, but they’re being more thoughtful about how they’re spending,” said Ted Rossman Bankrate, senior industry analyst  The surge in air travel fares has to do with many carriers needing to improve in rebuilding their pre-pandemic flight schedules. A global shortage of aircraft has seen a reduction in aircraft in the tarmacs needed to address the influx of air travel demand. A restricted supply of seats amid high demand is expected to support prices that should allow airlines to continue generating more revenues. On the other hand, the biggest risk to the airline industry is the rising cost of jet fuel. Energy prices have increased significantly in recent months, with crude oil rallying to ten-month highs of $90 a barrel. The increasing energy costs are likely to trigger higher inflation, something that could affect consumer purchasing power, prompting most of them to shelve their travel plans. Nevertheless, the increase in international travel costs due to higher jet fuel could take a toll on the sector that is still in recovery mode from the COVID-19 triggered slowdown. According to Peter McNally of Third Bridge Global Sector lead for Industrials Materials and Energy, airplane capacity issues could become rampant as travel costs soar due to higher jet fuel costs. Some airlines have already started cutting guidance due to the higher fuel costs. For instance, American Airlines expects its Q3 earnings to range between $0.20 and $0.30 a share below the previous guidance of between $0.85 and $0.95. Amid the cuts, most airlines are expected to pass the elevated costs due to high fuel costs, labor issues, and strong dollar to customers owing to the high demand in the market. Waning travel demand is another issue that could batter the sector heading into year-end. Southwest Airlines has already embarked on aggressive marketing campaigns as it looks to get more people booking for its flights. The airline offers triple Companion Pass qualifying points per flight for people looking through its business channels. The easier way to earn the points signifies the ever-growing need to fill seats not just this year but into 2024. Source:pixabay Despite the concerns, the air travel industry remains on course to finish the year on a high as airlines continue charging premium fares. As the air travel industry continues to rebound from the pandemic slowdown and airlines report record revenues and profits, tremendous investment opportunities continue cropping up, with most airline stocks trading at highly discounted levels. The U.S. Global Jets ETF (JETS), which offers exposure to passenger airlines, aircraft manufacturers, and airport operators, is flat for the year, signaling how investors have shunned the sector despite the solid fundamentals. Morningstar expects the operating environment in the US airline sector to continue improving and return to more normalized competitive dynamics once supply constraints moderate. Declining fuel costs in a consolidated industry and robust demand for air travel should offer the much-needed support. Our Methodology While relentless travel demand has sent bookings in major US carriers soaring and leading to bumper earnings, the same is yet to reflect in stock valuations. Most stocks appear to be trading at great discounts, therefore offering a high-risk reward opportunity. We have combined the best airline stocks to invest in, as listed in the U.S. Global Jets ETF (JETS), based on their underlying fundamentals. We looked at the data of 910 hedge funds that we track at Insider Monkey as of the end of Q2 2023 and ranked the airline stocks that they invested in. The more hedge funds invested in a stock, the higher its rank. Best Airline Stocks to Invest In Right Now  11. Southwest Airlines Co. (NYSE:LUV) Number of Hedge Fund Holders: 31 Southwest Airlines Co. (NYSE:LUV) is a passenger airline company that offers scheduled flights in the U.S. and nearby regions. It had 770 Boeing 737 planes and flew to 121 places in 42 states, D.C., Puerto Rico, and ten other countries, such as Mexico, Jamaica, Aruba, Cuba, and more, by the end of 2022. A total of 31 hedge funds in Insider Monkey’s database had stakes in Southwest Airlines Co. (NYSE:LUV) as of the end of the second quarter of 2023. The biggest stakeholder of the company is Oldfield Partners of Richard Oldfield, with a $99.61 million stake. Citi analyst Stephen Trent cut Southwest Airlines Co. (NYSE:LUV)’s price target to $32.75 from $36 on September 12, citing labor cost uncertainty. The firm maintained a ‘Neutra’l rating and was more bearish than others. 10. Copa Holdings, S.A. (NYSE:CPA) Number of Hedge Fund Holders: 34 Copa Holdings, S.A. (NYSE:CPA) is an airline company that flies to 78 places in the Americas and the Caribbean from Panama City. It has 97 planes, mostly Boeing 737s, including 20 737-MAX. On September 18, 2023, JPMorgan analyst Guilherme Mendes maintained an ‘Overweight’ rating on Copa Holdings, S.A. (NYSE:CPA) and increased his price target from $160 to $170. In the second quarter of 2023, 34 hedge funds had a stake in Copa Holdings, S.A. (NYSE:CPA) compared to 33 in the previous quarter. In Q2, the company’s biggest hedge fund holder, Citadel Investment Group owned 899,199 shares of the company worth $99.43 million. 9. Tripadvisor, Inc. (NASDAQ:TRIP) Number of Hedge Fund Holders: 33 Tripadvisor, Inc. (NASDAQ:TRIP) is an online travel company that provides travel guidance products and services worldwide. It has three segments: Tripadvisor Core, Viator, and TheFork. The Tripadvisor Core segment lets travelers share ratings and reviews for various travel-related items. The Viator segment offers online booking for tours and activities. The TheFork segment operates an online restaurant reservation platform. As of Q2 2023, 33 out of the 910 hedge funds part of Insider Monkey’s database had bought a stake in Tripadvisor, Inc. (NASDAQ:TRIP). Out of these, the firm’s largest investor is Paul Reeder And Edward Shapiro’s PAR Capital Management with an $89.05 million stake. On September 17, 2023, Truist Financial reduced Tripadvisor, Inc. (NASDAQ:TRIP)’s price target from $18 to $17, indicating a potential 7.80% increase from the previous close. Here is what Rowan Street Capital said about Tripadvisor, Inc. (NASDAQ:TRIP) in its second quarter 2023 investor letter: “Now, the bottom 3 performers from all the companies that we’d sold were Docusign (DOCU) -76%, Tripadvisor, Inc. (NASDAQ:TRIP) -59% and Under Armour (UA) -57%. These represent the losses we would have incurred had we held on to these positions until now. We must note that all 3 of these were sold for purely fundamental reasons and we ended up being correct on all of them.” 8. American Airlines Group Inc. (NASDAQ:AAL) Number of Hedge Fund Holders: 35 American Airlines Group Inc. (NASDAQ:AAL) is a network air carrier that flies passengers and cargo through its hubs in nine U.S. cities and partner gateways in six other countries. It had 925 mainline planes at the end of 2022. After sifting through 910 hedge funds for their June quarter of 2023 investments, Insider Monkey discovered that 35 had bought and owned the firm’s shares. D. E. Shaw’s D E Shaw is American Airlines Group Inc. (NASDAQ:AAL)’s largest shareholder since it owns a stake worth $219.61 million. On September 18, 2023, Citigroup reduced American Airlines Group Inc. (NASDAQ:AAL)’s price target from $16.60 to $15.25 while maintaining a ‘Neutral’ rating. 7. United Airlines Holdings Inc. (NYSE:UAL) Number of Hedge Fund Holders: 40 United Airlines Holdings Inc. (NYSE:UAL) is an airline company that flies people and cargo in various regions of the world. It has mainline and regional fleets. It also provides catering, ground handling, training, and maintenance services. As of the end of the second quarter of 2023, 40 hedge funds tracked by Insider Monkey had stakes in United Airlines Holdings Inc. (NYSE:UAL). The biggest stakeholder of United Airlines Holdings Inc. (NYSE:UAL) was Ken Griffin’s Citadel Investment Group which owns a $272.45 million stake in the company. On August 7, 2023, Redburn analyst James Goodall upgraded United Airlines Holdings Inc. (NYSE:UAL) from ‘Neutral’ to Buy’ and set a price objective of $80. 6. Trip.com Group Limited (NASDAQ:TCOM) Number of Hedge Fund Holders: 44 Trip.com Group Limited (NASDAQ:TCOM) is a travel service provider that offers various travel-related services in China and abroad. It helps customers book accommodations, transportation, tours, and corporate travel. On September 7, TD Cowen revised its price target on Trip.com Group Limited (NASDAQ:TCOM) from $44 to $45 and retained an ‘Outperform’ rating. As of the end of the second quarter of 2023, 44 hedge funds tracked by Insider Monkey have stakes in Trip.com Group Limited (NASDAQ:TCOM). The biggest stakeholder of Trip.com Group Limited (NASDAQ:TCOM) is Richard S. Pzena’s Pzena Investment Management which owns a $230.07 million stake in the company. In its fourth-quarter 2022 investor letter, Artisan Partners made the following comments about Trip.com Group Limited (NASDAQ:TCOM): “Trip.com Group Limited (NASDAQ:TCOM), a Chinese online travel agency, was the second-largest contributor to return in 2022. Trip.com is the dominant supplier of online travel reservations and is expected to benefit from China’s loosening COVID-19 restrictions on both domestic and international travel. Management of Trip.com has wisely spent the COVID-19 lockdown period reinforcing and improving the company’s market position and reducing unnecessary costs. We expect earnings to boom over the next year as travel picks up. Other investors appeared to agree, pushing the share price up 42% in 2022.” Click to continue reading and see 5 Best Airline Stocks to Invest In Right Now. Suggested articles: 15 Worst Performing Currencies of 2023 10 Recent IPOs in Micro Cap Stocks Semiconductor Market Share By Company: Top 12 Disclosure: None. 11 Best Airline Stocks to Invest In Right Now is originally published on Insider Monkey......»»

A nuclear bomb is still missing. In 1958, an Air Force B-47 jet dropped a Mark 15 near Tybee Island, Georgia. Despite searches, it's still missing. This casing of a Mark 17 thermonuclear bomb was manufactured around the same time as the lost Mark 15 weapon.Corbis/Corbis via Getty Images In 1958, two Air Force jets collided over Georgia, and one was carrying a nuclear weapon. The plane dropped the bomb off the coast of Tybee Island and landed safely. Several searches have failed to find the weapon in the decades since. Every once in a while, a high reading of radioactivity off the coast of Tybee Island, Georgia, sends the US government scrambling to look for a nuclear weapon that's likely hidden 13 to 55 feet below the ocean and sand, buried in the seafloor.On February 5, 1958, two Air Force jets collided in mid-air during a training mission. The B-47 strategic bomber carried a Mark 15 thermonuclear bomb.For over two months, the Air Force and Navy divers searched a 24-square-mile area in the Wassaw Sound, a bay of the Atlantic Ocean near Savannah. They never found the nuclear bomb.Forty years later, a retired Air Force officer who remembered newspaper stories about the lost bomb from his childhood started a search for it."It's this legacy of the Cold War," said Stephen Schwartz, author of "Atomic Audit: The Costs and Consequences of US Nuclear Weapons Since 1940." "This is kind of hanging out there as a reminder of how untidy things were and how dangerous things were."But some experts say that even if someone finds the bomb, it may be better to leave it buried.An armed training missionAt the time of the collision, it was "common practice" for the Air Force pilots on training missions to carry bombs on board, according to a 2001 report about the Tybee accident.The purpose of the training mission was to simulate a nuclear attack on the Soviet Union. They practiced flying over different US cities and towns to see whether the electronic beam would reach its target. Major Howard Richardson, flying a B-47 carrying the weapon, completed his mission. Meanwhile, another pilot, Lieutenant Clarence Stewart, was on his own training mission in an F-86 to intercept the jets. But Stewart's radar didn't pick up that there were two B-47s, and he and Richardson collided.Everyone survived the crash. Stewart ejected and got frostbite. Richardson realized he couldn't land his damaged plane on the Air Force base's under-construction runway with the weight of the weapon.He headed for the ocean, dropped the nuclear bomb from about 7,200 feet, and landed the B-47 safely.A B-47 Stratojet similar to the one that dropped the nuclear weapon near Tybee Island, Georgia.ATP/RDB/ullstein bild via Getty ImagesThe plane's crew didn't see an explosion afterward, according to the 2001 report. But in 2008, Richardson wrote in a Savannah Morning News article that he and the passengers may not have seen the bomb go off because he'd turned the plane.In 2004, Richardson told CBS News he regretted dropping the bomb because of all the trouble it caused."What I should be remembered for is landing that plane safely," he said. "I guess this bomb is what I'm going to be remembered for."The question of the plutonium capsuleFor weeks after the collision, about 100 Navy divers searched for the weapon using handheld sonar. Blimps and ships scoured the coast and marshes, the Atlanta Constitution reported at the time.On April 16, 1958, the military decided the bomb was "irretrievably lost." At the time, the Air Force said the weapon wasn't fully assembled and "there was no danger of an explosion or radioactivity," the Atlanta Constitution reported.Back then, the technology hadn't progressed to sealed nuclear weapons. Instead, the plutonium was separate from the bomb casing and the explosives that caused the implosion, Schwartz said. The weapon was only "complete" when the plutonium capsule or core was inside."Only when it was complete could it be armed and set off and achieve a nuclear chain reaction," Schwartz said.The US government and military have repeatedly said the Tybee weapon didn't contain a plutonium capsule when Richardson jettisoned it. A receipt for the bomb that Richardson signed at the time said he wouldn't allow the insertion of an "active capsule" into the weapon.A 1966 letter declassified in 1994 complicated the picture. It referred to then-Assistant Defense Secretary Jack Howard's testimony before a congressional committee calling the Tybee bomb a complete nuclear weapon, with plutonium included. In 2001, a military spokesman told The Atlantic that they had recently spoken with Howard, and "he agreed that his memo was in error.""I know some people think it's settled," Schwartz said. "I haven't fully made up my mind, but I feel like I am more comfortable going with the contemporaneous accounts."Detecting a bomb underwaterIn 2000, retired Air Force officer Derek Duke contacted then-Rep. Jack Kingston of Georgia about the missing bomb and Howard's memo, CBS News reported. At the congressman's urging, the Air Force looked into the pros and cons of trying to locate and remove the weapon versus leaving it alone.The 2001 report suggested recovery cost would start at $5 million, and that there was "a very low possibility of successfully locating the bomb." There was little chance it would spontaneously explode, it didn't contain plutonium, and the biggest environmental risk was heavy metal contamination as the bomb corroded, the report concluded.But there was a chance of it exploding during retrieval, and experts would have to remove and dispose of the uranium first.A boat searches the waters of Wassaw Sound for the nuclear weapon that a B-47 dropped decades earlier.Gerald Weaver/Getty Images"The whole Air Force perspective is, it's just not worth it," Schwartz said. "Trying to move it could create bigger problems than if we just leave it where it is."The 2001 Air Force report estimated the 7,600-pound lost bomb had 400 pounds of conventional explosive.Nevertheless, Duke took it upon himself to find the weapon. In 2004, he thought he had it. His equipment picked up unusually high radiation readings.The Air Force investigated but reported that the radiation was from naturally occurring minerals in Wassaw Sound.Over a decade later, in 2015, another citizen found strange sonar readings. The Nuclear Emergency Support Team advised on Operation Sleeping Dog, when military divers again searched for and failed to find the nearly 12-foot-long bomb.The Department of Energy sent subject matter experts to examine what the citizen searchers found in 2015, Shayela Hassan, deputy director of the Office of Communications with the National Nuclear Security Administration, said in an emailed statement to Insider."DOE's assessment of the material presented in 2015 was that the search lacked any evidence that supported discovery of the lost weapon," the statement said.The agency statement continued: "Periodic announcements by private citizens that the bomb may have been located have prompted mobilizations of US Government personnel, diverting them from more pressing national security and public health responsibilities. As such, DOE does not encourage private searches for the device."Schwartz thinks the only way the weapon will be found is by chance or if a powerful storm dredges it up."I won't say it's lost for the ages because I don't think it is," he said, but "so many people have searched for it for so long using some fairly sophisticated equipment and not found it."One mishap among manyLess than a month after Richardson jettisoned the Tybee bomb, another B-47 accidentally dropped a nuclear weapon on South Carolina. It didn't contain plutonium but left a 50-foot crater in a family's yard. A few family members had minor injuries but everyone survived.Since 1950, the US military has been involved in 32 "broken arrow" incidents, where they lost or dropped nuclear weapons or other issues, like fires, were involved.Several people inspect the deep crater made when a B-47 accidentally dropped a nuclear weapon in 1958.Bettmann/Contributor via Getty ImagesIn his book "Command and Control," Eric Schlosser wrote that in 1957 Air Force planes unintentionally dropped a nuclear weapon once every 320 flights. Coupled with the high rate of B-52 bomber crashes, there was the potential for about 19 incidents involving nuclear weapons each year.Between 1960 and 1968, the US military kept jets armed with nuclear weapons at the ready in case of a surprise nuclear attack. A series of near misses and serious accidents with nuclear weapons caused the Air Force to end the program."I don't think we're going to go back to the bad old days of putting our nuclear weapons on aircraft," Schwartz said.(In 2007, a B-52 bomber was accidentally loaded with six cruise missiles carrying nuclear warheads and transported without safety precautions, a mistake that would lead to the resignations of the Air Force secretary and chief of staff.)But Schwartz thinks incidents like Tybee — whether or not it contained plutonium — can remind people about the narrow misses with nuclear disasters."To have this many accidents and not have a weapon accidentally detonate is not just luck. It's also good engineering," he said. "But we also got incredibly lucky."Read the original article on Business Insider.....»»

From Richard Nixon claiming innocence in the Watergate scandal to John F. Kennedy lying about a cold, here are 18 times presidents told a lie. US President Donald J. Trump delivers his first address to a joint session of Congress from the floor of the House of Representatives in Washington, United States on February 28, 2017. Traditionally the first address to a joint session of Congress by a newly-elected president is not referred to as a State of the Union.Jim Lo Scalzo/EPA/Pool/Anadolu Agency/Getty Images Every US president has told a lie — from war and taxes to health conditions and extramarital affairs. When Dwight D. Eisenhower was caught lying by Russia, he said it was his greatest regret in office. President Donald Trump made more than 30,000 false or misleading statements while in office. "This is what we will say publicly but now, let's talk about what we will actually do," President Richard Nixon wrote in a memo about secret bombings in Cambodia in 1970."Every president has not only lied at some time, but needs to lie to be effective," Ed Uravic, who wrote "Lying Cheating Scum," told CNN.From President James Polk lying to invade Mexico in 1846 to then-presidential candidate George H.W. Bush famously promising no new taxes, here are some of the most famous lies US presidents have ever made. In the 1840s, President James Polk told Congress that Mexico had invaded the US.Former President James Polk.Universal History Archive/Getty ImageThis was a lie. In actual fact, his administration had ordered US soldiers to occupy an area in Mexico near the Texan border in 1846. Then when Mexican forces attacked the US soldiers, Polk claimed it was an attack against the US.The result of this lie was the Mexican-American war.In 1865, President Abraham Lincoln, also known as "Honest Abe," might not have lied, but he wasn't always truthful.Former President Abraham Lincoln.Getty Images / StaffIn response to rumors that he was about to meet with Confederate representatives in Washington, he told the House that no representatives were on their way to Washington, The Washington Post reported. He wasn't lying — they were on their way to Virginia, where he would later meet them. He didn't tell the whole truth at the time because he didn't want his meeting to impact the passing of the 13th Amendment.Political theory professor Meg Mott told The Conversation his use of truth when dealing with the Confederacy was "devious."In 1898, President William McKinley declared Spain had attacked a US warship called the USS Maine in Cuba, killing 355 sailors.Former President William McKinley.Library of CongressBut reportedly, he had no evidence of this.The actual cause of the sinking has never been conclusively proven.Although reluctant to go to war with Spain, his insistence that the Spanish were behind the attack led to war, per the Columbus Dispatch.In 1940, during World War II, President Franklin D. Roosevelt promised the nation that "your boys are not going to be sent into any foreign wars."Former President Franklin D. Roosevelt.Hulton Archive/GettyBut Roosevelt was already preparing to enter the war. His declaration was an election promise — one he would not keep — made during his campaign against Wendell Willkie. After his speech, his speechwriter, Sam Rosenman, asked him why he hadn't said the final part of the speech, which was, "Except in case of attack.".  Roosevelt responded, "If we're attacked, it's no longer a foreign war."The following year, in 1941, Roosevelt lied again. This time, he said a German submarine had attacked a US ship called the Greer without provocation.Former President Franklin D. Roosevelt.Keystone Features/Getty ImagesIn actuality, the Greer had been protecting British ships crossing the Atlantic Ocean and had been following that German submarine and letting the British know its path.Roosevelt used the attack as a provocation to prepare the US for entering World War II.In August 1945, the Truman administration issued a press release after the first atomic bomb was dropped on Hiroshima, describing it as "an important military base."Former President Harry Truman in 1945.MPI/GettyHiroshima was home to 350,000 people, although it did have a military base in the city.About 10,000 soldiers were killed in the blast, but most of the 125,000 people who died were civilians.In 1960, President Dwight Eisenhower dismissed claims that the US had flown spy planes over Russia after one of its planes was shot down.Former President Dwight Eisenhower.Getty ImagesThinking the pilot was killed, he approved a number of statements that said it was a weather plane. But when Russia announced it had one of the pilots named Gary Powers in custody, he had to admit he had been lying.He called it the biggest regret of his life. "I didn't realize how high a price we were going to pay for that lie," he said.On October 20, 1962, President John F. Kennedy told America he had a cold.Former President John F. Kennedy in the Oval Office signing copies of his official portrait in 1961.Henry Burroughs/APThe truth was he was dealing with a crisis. Intelligence agents had found that the Soviets were creating a missile base in Cuba.To ensure the public didn't panic, Kennedy told the press he had to leave Chicago where he was campaigning because he had a fever. In reality, he had to attend a meeting back at the White House to decide whether to invade Cuba. He also claimed that the Russians had more nuclear weapons than the US.Though he lied about having an illness, Kennedy lied about not having another one. In 1960, he said he had "never" had Addison's disease.Former President John F. Kennedy in the White House in 1963.Keystone/Getty ImagesDespite scientists later confirming he had the disease, in his primary campaign against Lyndon B. Johnson, he called himself "the healthiest candidate for President in the country."Kennedy wasn't the only president who lied about his health. Numerous presidents — including Chester Arthur, Grover Cleveland, Woodrow Wilson, Calvin Coolidge, Franklin D. Roosevelt, and Dwight D. Eisenhower — lied about their health at some point.In 1964, President Lyndon B. Johnson said in a televised speech, “We still seek no wider war.”Former President Lyndon B. Johnson in the Oval Sitting Room of the family quarters of the White House.Bettmann/Getty ImagesThis was in reference to the Gulf of Tonkin incident, in which North Vietnamese patrol boats had reportedly attacked US ships in the Gulf of Tonkin.In the same speech, he declared, "Aggression by terror against the peaceful villagers of South Vietnam has now been joined by open aggression on the high seas against the United States of America."Johnson's administration claimed that the US ships were out on routine patrols, but they were actually on a secret mission in North Vietnamese territory. The attacks were used to increase the US's presence in Vietnam.Johnson's lies didn't end there either. He went on to withhold information from the public and Congress about how much was spent on the Vietnam War and how badly the war effort was going. In 1970, President Richard Nixon lied to the country about a US covert bombing campaign in Cambodia.Former President Richard Nixon.Getty ImagesAfter the bombings were made public, Nixon let people believe the attacks on Cambodia were over. He advised his staff to tell the public that the soldiers were providing support for local soldiers when, in fact, the attacks continued. In a memo, Nixon wrote, "This is what we will say publicly but now, let's talk about what we will actually do."In 1974, Nixon declared, "I'm not a crook" after being accused of obstructing justice and lying during the Watergate scandal.Former President Richard Nixon in 1969.Bettmann/Getty ImagesHe claimed he was not involved in the scandal, but an investigation found evidence that he was. He later resigned as president instead of potentially being impeached.In 1986, President Ronald Reagan promised the nation: "We did not — repeat, did not — trade weapons or anything else for hostages, nor will we."Former President Ronald W. Reagan in the Oval Office in 1985.Diana Walker/Getty ImagesThis was during the Iran-Contra Affair, where the US government secretly traded weapons with Iran in exchange for the release of US hostages being held by terrorists in Lebanon.The government then used the money from the weapons to fund anti-communist groups in Nicaragua.Despite Reagan's promise, it later turned out the US had in fact traded arms for hostages.He later said, "My heart and my best intentions still tell me that's true, but the facts and the evidence tell me it is not."In 1988, then-Republican presidential nominee George H.W. Bush said, "Read my lips: No new taxes."Former President George H.W. Bush.Diana Walker/Time Life Pictures/Getty ImagesHis whole statement was: "My opponent won't rule out raising taxes. But I will. And the Congress will push me to raise taxes, and I'll say no. And they'll push, and I'll say no, and they'll push again, and I'll say, to them, 'Read my lips: no new taxes.'"At the time, the six words were seen as a successful political slogan. But Bush was later forced to raise taxes during negotiations with a Senate and House controlled by Democrats. After he did so, The New York Post went with a headline that said: "Read my lips: I lied."His U-turn on taxes was widely seen as one of the reasons he did not get re-elected for a second term.In 1998, President Bill Clinton said before a federal grand jury, "I did not have sexual relations with that woman," referring to his intern Monica Lewinsky, with whom he did, in fact, have an affair.Monica Lewinsky and former President Bill Clinton.Fiona Hanson - PA Images/PA Images via Getty Images. Jeff Overs/BBC News & Current Affairs via Getty Images.Clinton was impeached for lying under oath, but he was acquitted by the Senate.It was thought to be the first time a president was caught lying about their sex life because it was the first time a president had ever really been asked about it.In 2003, two months after the US invaded Iraq, President George W. Bush claimed to have found weapons of mass destruction to justify the war.Then-Texas Gov. George W. Bush in 1999.David Hume Kennerly/Getty Images"We found the weapons of mass destruction," he said. "For those who say we haven't found the banned manufacturing devices or banned weapons, they're wrong; we found them."But they hadn't found anything.Bush later said, "We do not know whether or not [Iraq] has a nuclear weapon." However, then-CIA Director George Tenet later testified that Bush was advised there were no nuclear weapons and it would be unlikely that the country could even make one until 2007.In 2008, when President Barack Obama was pushing through his new Affordable Care Act, Obamacare, he promised people wouldn't need to change their plans if they didn't want to.Former President Barack Obama in 2017.Stephane Cardinale - Corbis/Corbis via Getty Images"If you like your plan, you can keep it," Obama said. But it wasn't true. In the end, millions of people had to change their plans. He also didn't just say it once, but around 37 times, Politico reported."I am sorry that they are finding themselves in this situation based on assurances they got from me," he said in 2013.President Donald Trump made more than 30,000 false or misleading statements while in office.Former President Donald Trump speaks to supporters during a political rally on July 29, 2023 in Erie, Pennsylvania.Jeff Swensen/Getty ImagesThis averaged out at about 21 false claims a day, The Washington Post reported. Some of Trump's lies included his claim that the pandemic was "totally under control," the altering of a weather map with a Sharpie after he wrongly said Alabama was at risk from Hurricane Dorian, or his claim that Rep Ilhan Omar supported al Qaeda.He also falsely claimed the election was stolen from him.Read the original article on Business Insider.....»»

The Brazilian-made Embraer Phenom 300 has surpassed the best-selling Cessna Citation Excel as the US' most popular private jet. The Brazilian-made Embraer Phenom 300 has surpassed the best-selling Cessna Citation Excel as the US' most popular private jet.Embraer The Embraer Phenom 300 has surpassed the Cessna Citation Excel as the US' most popular private jet. According to federal data, the Phenom had about 360,000 takeoffs and landings over the past 12 months. The Brazilian-made plane boasts better fuel burn, speed, and range compared to the Excel. Textron Aviation's best-selling Cessna Citation family of private jets has reigned as America's most popular for 15 years, but it just lost its top spot.According to the Federal Aviation Administration's August report on business jet operations, the Brazilian-made Embraer Phenom 300 has overtaken the Cessna Citation Excel series as the most-flown business plane in America.The Phenom 300 has had over 360,300 takeoffs and landings at US airports since August 2022, while the Excel is just shy of 359,000. The difference is about 1,400 takeoffs and landings, according to the agency — making it the first time since 2009 that any private jet has flown more than the Excel in the US."With its best-in-class speed, range, and cabin pressurization, plus incredible fuel efficiency and the highest residual value in the industry, we continually improve upon this spectacular jet to deliver the utmost value to all our customers who fly it," CEO of Embraer Executive Jets Michael Amalfitano recently posted on LinkedIn.The Cessna Citation Excel family (top) has been the US' most-flown private jet for the past 15 years.jremes84/Shutterstock, NetJetsThe Cessna Citation Latitude, the Cessna Citation V, and the Cessna Citation CJ3 business aircraft were also in the FAA's monthly report as the third, sixth, and ninth most-flown private planes, respectively.Private aviation consultant Brian Foley told Bloomberg that despite its smaller cabin, the Phenom 300 has become a fan-favorite thanks to its better fuel burn, speed, and range compared to the Excel. And, it costs about $3 million less than $13 million Cessna Citation XLS+, which is the latest version of the Excel.He also explained that Embraer's "long airliner heritage" (the company also builds commercial planes) gives the Phenom 300 a "perception of being purpose-built for high utilization."Take a look at the $10 million private plane.Introduced in 2009 as part of Embraer Executive Jets, the Embraer Phenom 300E — the latest version of the plane — is the world's best-selling light jet.A NetJets' Embraer Phenom 300E.Embraer Executive JetsThe Phenom 300E offers enhancements compared to its predecessor, including better speed, bigger seats, a redesigned cabin, and a new inflight entertainment system.Since entering service, over 700 Phenom 300 series aircraft have been delivered — with North America being its largest market.By comparison, there have been over 1,000 deliveries of the Excel since the program started in 1994, with the latest version being the Citation XLS+.The business plane boasts incredible range and speed thanks to two Pratt & Whitney PW535E1 engines.Benjamin Zhang/Business InsiderSpecifically, the 300E can fly at up to 534 mph, while the 300 flies at 513 mph, according to Embraer.As far as range, both versions can fly about 2,300 miles, which is enough to fully cross the US — and the higher speed of the 300E may be preferred for those on a tighter schedule.The Excel XLS+ can fly about 1,850 miles at speeds of up to 507 mph.And, the Embraer is particularly popular for its single-pilot capabilities.Benjamin Zhang/Business InsiderUnlike the XLS+, the Phenom 300 is certified for single-pilot operations — giving more flexibility to operators and customers.And, its cockpit has been enhanced with new technology that helps reduce pilot workload and improve situational awareness — like the runway alert system that "provides a warning advisory if the runway approach is too steep or too fast." Although the cabin is smaller than the competing Excel, the Phenom 300 boasts the "Oval Lite" cabin, which offers the "most head and legroom of any light jet."Benjamin Zhang/Business InsiderWith roughly 17 feet of cabin length to work with, the plane can seat between 6 and 10 people depending on seat layout and if there is one or two pilots. That's two less than the up to 12-seat capacity on the Excel — though the latter most comfortably seats nine  But, customers won't find the private bedroom that is common on larger private planes like VistaJet's Bombardier Global 5000 or the Gulfstream G700 owned by Qatar Airways Executive. And, complementing the plane's giant windows, the most common layout includes six reclining loungers each with a pop-out table in between.The Brazilian-made Embraer Phenom 300 has surpassed the best-selling Cessna Citation Excel as the US' most popular private jet.EmbraerFor example, NetJets' Phenom 300/E has a set of four "club seats," as well as two additional forward-facing seats. Meanwhile, competing private jet operator Flexjet sports a seven-person cabin thanks to a bonus seat located towards the front of the plane.According to Embraer, operators can also fit a small duvet couch at the entrance — a feature also common on the Citation XLS+.Benjamin Zhang/Business InsiderWith the couch installed, the Phenom 300/E will commonly carry eight people.According to Textron, the Excel's standard side-facing couch "delivers additional flexibility to your cabin's layout." Meanwhile, an aft lavatory and forward galley can be configured on opposite sides of the cabin.Benjamin Zhang/Business InsiderThe galley can be stocked with drinks, snacks, coffee, and other necessities that ultra-rich travelers will expect when chartering a private jet.While the Phenom 300 is the most-flown private jet in the US as of August 2023, Textron's large Citation fleet still claims significantly more flight hours.jremes84 / Shutterstock.comThe Cessna Citation family includes everything from light jets to super midsized planes, with the manufacturer actually developing a brand new variant known as the Citation Ascend.Built as the new edition of its XLS+, Textron Aviation's senior VP of global sales and flight operations said the Ascend is "designed to outperform and take our customers further in style." This means that despite the rise in popularity of the Phenom 300, Cessna's true-blue Citation family will continue to be an industry fan-favorite.Textron Aviation"One of every three business jets worldwide is a Cessna Citation, and product upgrades like these continue to give customers new reasons to choose us for our proven performance, leading technology, and unmatched cabin experience," Textron told Bloomberg.Read the original article on Business Insider.....»»

Air Force Wants To Replace Highly Effective Modern A-10 With 'Flying Tinderbox' Authored by Mike Fredenburg via The Epoch Times (emphasis ours), “By scrapping the A-10, the Air Force is guaranteeing more Gold Star families will be created,” according to Charlie Keebaugh, president of the largest group of tactical-air-control party airmen. The U.S. Air Force A-10 Thunderbolt II, also known as “Warthog," demonstrates its capabilities at the New York Air Show at Orange County Airport, N.Y., on June 24, 2023. (Petr Svab/The Epoch Times) The 2024 version of the National Defense Authorization Act (pdf) allows the Air Force to retire 42 A-10 Thunderbolt 2s in 2024, with the remaining 220 or so to be retired with prejudice by 2029. This retiring of the A-10 “Warthog” is predicated on the fantastical disproven idea that the A-10, which to this day is the most cost-effective plane in the Air Force’s inventory, can be replaced by the F-35. This power play by the Air Force is just another chapter in the long, ongoing saga of senior Air Force leaders using every tactic, including underhanded tactics, threats, and rigged testing, to justify retiring the A-10. It certainly isn't about improving our country’s close air support (CAS) capabilities that have saved countless American lives. Instead, it's about converting A-10 maintainers to F-35 maintainers in order to satisfy the F-35s endless, ravenous appetite for maintenance and support. And it's about killing off the plane that will continue to show up the F-35 as long as it continues to fly. Before talking about the respective CAS capabilities of the A-10 and F-35, an understanding of what's meant by CAS is necessary. Joint Western military doctrine defines CAS as “air action by fixed- and rotary-winged aircraft against hostile targets that are in close proximity to friendly forces and which require detailed integration of each air mission with the fire and movement of those forces.” More specifically, CAS pilots must be able to coordinate in real time and near real time with their certified joint terminal attack controllers (JTAC), to be able to dynamically adjust targeting and be able to relay enemy positions and movements back to their JTACs in real time. In a real CAS mission, the plane will be flying close enough to frontlines that even if it's stealthy, it will still be seen on radar and by plain old human eyes. In terms of what you want in a CAS plane, the engineers and experienced CAS pilots who designed the A-10 in the mid-1960s concluded that a CAS attack plane must be able to operate near the frontlines from an austere airfield with short runways, have low maintenance requirements and high reliability, be able to carry a large weapons load including anti-armor capability, be tough enough to survive small arms fire and be resistant to the kind of anti-air weapons one will find at the frontline of a ground battle, have long range and endurance, have a speed of at least 350 knots, have great low-speed maneuverability, and have a low cost of acquisition so that the CAS planes that will inevitably be lost in combat can be quickly and cost-effectively replaced as needed. To say that the A-10 design team hit it out of the park is an understatement. And the heavily modernized A-10C, despite unsubstantiated Air Force claims, has the most sophisticated CAS capabilities of any plane in the world. Consequently, modernized A-10Cs, combining modern A-10-enabled tactics with its air defense capabilities, can operate in environments full of anti-air weapons that other aircraft, including the F-35, can't. And, the Warthog, with its triple redundancy, twin engines, and titanium bathtub to protect its pilot, is the toughest plane in the world that gets its pilot home after sustaining many times the damage that would have downed any other aircraft. While the F-35 certainly can fly fast enough, it fails to meet any of the other CAS criteria. And while the F-35, a flying fuel tank, does have decent range when flying stealthily, its inability to fly out of austere air bases located near the frontlines means that it will spend most of its fuel flying back and forth from the battle. In contrast, the A-10, with its ability to fly from austere makeshift airfields with short, unimproved runways, can be based mere minutes from the frontlines and can spend hours in or near the battlefield. This, plus the fact that the A-10 can conservatively double the number of sorties per day of an F-35, means that an A-10 will minimally be able to spend four to eight times more time at or near the frontlines delivering lifesaving, mission-advancing support than an F-35. Adding insult to injury is that the A-10 can carry far more ordnance than an F-35 flying in stealth mode. And while the F-35 can swap out stealth mode for its “Beast Mode,” which allows it to carry more ordnance than the A-10, its operational range will be cut in half, meaning that it almost certainly will require infight refueling to be able to use its ordnance. So far, the F-35 isn't looking so great as a CAS plane, but things only get worse, much worse. What About the Guns and 'Danger Close'? One of the critical missions that a CAS plane needs to be able to execute is a “danger close” mission. This is an operation in which the CAS plane will be attacking enemy troops and equipment that are within 50 meters of friendly troops. Consequently, explosive ordnance use is restricted or not used out of fear of harming or killing friendlies. In these cases, the A-10’s fearsome GAU-8 Avenger 30-millimeter cannon is vastly superior to the 25-millimeter cannons that the F-35s mount. And much to the chagrin of enemy forces, the A-10 carries 1,174 rounds of ammunition, five to six times what the F-35 carries, allowing it to make multiple attack runs per sortie. However, these comparisons are pointless when it comes to the F-35A, whose gun is hopelessly inaccurate and damages the plane when it's fired. Finally, equipment critical to protecting the F-35 from going up in flames was either stripped off or left off due to weight considerations (pdf). This arguably makes the F-35 the most fragile plane in the U.S. fighter inventory. Not only is the F-35 highly vulnerable to small fragments common to anti-aircraft artillery fire and near missile misses, but it can’t fly anywhere near lightning, while the A-10 is capable of flying in weather conditions that will ground all other aircraft. F-35 Will Be Able to 'Fire and Flee,' but Can't Do Real CAS The F-35's extreme vulnerabilities to weapons and weather, and its poor low-speed maneuverability, mean that it won't be allowed to do genuine CAS; instead, it will fire extremely expensive weapons at ranges far enough from the frontline that the situation will often have changed dramatically by the time the glide bomb or missile reaches its target. The F-35 pilot won’t be able to dynamically adjust targeting second by second, as can an A-10 pilot who can actually see the battlefield, even when electronic jamming is present. Further, the F-35 pilot won't be providing real-time information on enemy movements and positions as can the A-10 pilot. Col. William Smith, a retired Air Force pilot with more than 3,000 hours of A-10 flight time and 128 combat sorties, said in 2015, “We are regularly able to use something that other planes often cannot, the Mark I Human Eyeball, and sometimes there is no substitute for that,” and “we live in the armpit of the guy on the ground.” In sharp contrast, the F-35 pilot, in his fragile, flammable, flying tinderbox, will be firing and fleeing many miles away from the frontlines. In conclusion, the F-35—with its extreme fragility, high acquisition cost, high cost of support and maintenance, inability to operate near the frontlines, poor low-speed maneuverability, lack of an effective gun, poor sortie generation rate, short loiter times, and lack of ability to carry a large weapons payload without inflight refueling—is the antithesis of a CAS plane. Consequently, in canceling the A-10, the U.S. Air Force will be canceling the most important and effective plane it has to execute lifesaving, mission-advancing CAS. And it will be killing the only plane that can do danger close support. This could cost the lives of countless Marines and soldiers. But on the upside, the A-10 maintainers can be moved over to support the troubled, maintenance-hungry F-35s. Tyler Durden Sun, 09/03/2023 - 22:30.....»»

For one week every year, a dried-up lakebed in the Nevada desert becomes an airport that ushers in thousands of Burning Man attendees. Burning Man has its own pop-up airport.Courtesy of FlightAware. Hundreds of flights have landed in Black Rock City for Burning Man — tech bros' favorite party. Last year, FlightAware data shows that over 2,000 flights arrived at the pop-up desert airport. While the event has become more popular among the super-rich, the flights have spawned criticism. Over 880 flights descended on Black Rock Desert's pop-up airport this week as the playa opened shop for Burning Man.Every year, an airport known as 88NV is constructed — and then taken down — in a dried-up lakebed in the Nevada desert that is home to the annual arts and music festival, which began as a fire party in San Francisco in 1986 and has recently attracted billionaire CEOs and tech execs.Tesla CEO Elon Musk, Meta's Mark Zuckerberg, and investor Ray Dalio have all been spotted on the playa over the years.And, while many people travel to the event by car, those who can afford it arrive by flying into the special dust airport. The event first began welcoming aircraft in 1991, but the Black Rock City Airport wasn't recognized as a temporary airport until 2008 and didn't appear on official aviation charts as 88NV until 2011.The airport is pretty rugged: 88NV doesn't currently have any permanent structures or an air traffic control tower, Insider previously reported, and it sports two short desert runways — its longest being just under 6,000 feet, according to airport information website AirNav.In the past, some wealthy attendees have flown in directly from places like San Francisco and New York, which can cost a pretty penny. Jettly CEO Justin Crabbe told Insider in 2019 that the roundtrip flight from New York to Black Rock City cost $55,000.Now, 88NV is mainly used as the destination of the Burner Express, a bus and aircraft service that transports attendees from Southern California and the Bay Area, as well as from the Reno airport. Individuals can either purchase a ticket on an aircraft or charter an entire plane. The nearby Reno-Tahoe International Airport — which is just under 100 miles from the festival — also sees an uptick in flights during the festival. For the past two years, the week of Burning Man has been one of the busiest at the airport, with hundreds more flights landing at the airport than on a typical day, per FlightAware data.While still a popular runway, 88NV appears to be cutting back this yearThe pop-up airport is very no frills.Courtesy of FlightAwareOver 880 flights have landed at the Black Rock City Airport over the past week, and more are expected to fly into the airport as the festival continues into Monday, according to data from the flight-tracking site FlightAware.This compares to over 2,000 flights last year, according to FlightAware. But the event organizers appear to be doing things differently this year.For Burning Man 2023, a majority of the aircraft permitted to land at the 88NV are those the event offers through Burner Express Air, Alex Sgarlata, director of operations and sales administration for flight-charter firm evoJets, told Insider. "This limitation is likely in response to the heavy air charter traffic into the airport in years past, with no ATC to control it," Sgarlata said, referring to air traffic control. He added that the lack of ATC means there is nobody on the ground to assist pilots flying in.Insider could not independently confirm this. A Burning Man spokesperson did not respond to a request for comment ahead of publication. The flights aren't cheap, however, with a one-way ticket from Oakland costing $675, and last-minute flights priced at over $1,300, SF Gate reported.According to Burner Express' website, other air carriers can fly into Black Rock City, but those who wish to must email and register with the company in advance. Otherwise, the plane's passengers will be turned away.Meanwhile, Burning Man said private pilots can fly their own aircraft into 88NV. But they must "preregister and qualify" before flying in due to how winds and dust can impact aircraft: "Things can get really weird out here," the airport warns on its website.  Based on FlightAware data, common planes flying to the airport are the Pilatus PC-12 and Cessna 172 — both single-engine turboprop planes typically used for short hops in regional areas.Airline pilot and aerospace expert Kathleen Bangs told Insider that flight conditions can be complicated at Burning Man's desert airport due to the elevation and heat."A 4,000 foot elevation with 6,000 foot long gravel runways in hot temperatures doesn't provide much performance margin when operating piston airplanes," she said. "The runway length is good but still high and hot."Sgarlata also added color to the harsh conditions present at 88NV."The airstrip, since it is in the desert, is known to have very high winds without notice, so wind shear and white-out conditions are common," he told Insider.Planes on the playa have drawn criticism from climate activistsBurning Man has special policies for the aircraft that fly into the pop-up airport.Maxar Technologies/Handout via REUTERSAlthough the event mantra is famously "leave no trace," Burning Man isn't free from criticism by climate activists who have protested the use of private aircraft to travel to the festival.The ultrarich typically arrive with their own luxurious accommodations — including a team of personal chefs charging up to $275,000 to cook meals. The event organizers have said they are working to make the festival, which already relies on solar power, carbon negative. Even the aircraft that commonly visit the airport are known for having lower emissions than most private planes.The Pilatus PC-12 produces up to 74% less emissions than the average aircraft, according to the manufacturer.Read the original article on Business Insider.....»»

Stocks like Ryanair (RYAAY), United Airlines (UAL) and American Airlines (AAL) are worth a watch with the Zacks Transportation - Airline industry benefiting from rosy air travel demand & low fuel costs. With air travel demand bouncing back strongly from the pandemic lows, prospects of stocks in the Zacks Transportation - Airline industry appear bright indeed. It is well documented that air travel demand is particularly strong on the leisure front. What is more encouraging is that international demand made a roaring comeback.The decline in fuel expenses represents another tailwind for the industry.Driven by the abovementioned positives, investors interested in the industry would do well to keep stocks like Ryanair Holdings RYAAY, United Airlines UAL and American Airlines AAL on their radar.About the IndustryThe Zacks Airline industry players are engaged in transporting passengers and cargo to various destinations globally. Most operators maintain a fleet of multiple mainline jets in addition to several regional planes. Their operations are aided by their regional airline subsidiaries and third-party regional carriers. Additionally, industry players utilize their respective cargo divisions to offer a wide range of freight and mail services. The players invest substantially to upgrade technology. The industry, apart from comprising legacy carriers, includes low-cost players. The well-being of companies in this group is linked to the health of the overall economy. For example, the aviation space was one of the worst pandemic-hit corners, with passenger revenues taking a beating. However, air travel demand is extremely rosy now. The focus on boosting cargo revenues is a positive too.Factors Relevant to the Industry's FortunesRosy Air Traffic Scenario: The stronger-than-expected recovery in air travel demand from pandemic lows is a huge positive for the industry, which was one of the worst hit in the peak COVID-19 period. The removal of COVID-related restrictions is aiding air travel, which is now strong on the international front as well. Reflecting the recovery in air travel demand, overall global traffic was up 47.2% in the first half compared with the year-ago period, with double-digit increases on both the domestic and international fronts, per IATA.People are again resorting to air travel as they resume their normal activities. Expecting the strong passenger volumes to continue, some airline companies like United Airlines have lifted their earnings per share view for the current year.Declining Fuel Costs: The southward movement of oil price bodes well for the bottom-line growth of industry participants. This is because fuel expenses are a significant input cost for the aviation space. Notably, oil price declined 6.6% in the April-June period of 2023. Per IATA, the average jet fuel cost is expected to be $98.5 per barrel in 2023 (earlier forecast was $111.9 per barrel).High Labor Costs: Increased operating costs are limiting bottom-line growth. With expenses on fuel moving south, costs will likely continue to be steep going forward due to escalated labor costs. Moreover, as U.S. airlines grapple with pilot shortage, the bargaining power of this labor group has increased. As a result, we have seen pay-hike deals being inked in the space. This is resulting in a spike in labor costs. American Airlines recently lifted its forecast for third-quarter non-fuel unit costs due to the four-year pay-related deal with pilots.Zacks Industry Rank Signals Bright ProspectsThe Zacks Airline industry is a 28-stock group within the broader Zacks Transportation sector. The industry currently carries a Zacks Industry Rank #74, which places it in the top 29% of 250 plus Zacks industries.The group’s Zacks Industry Rank, basically the average of the Zacks Rank of all the member stocks, indicates bright near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperforms the bottom 50% by a factor of more than 2 to 1.The industry’s positioning in the top 50% of the Zacks-ranked industries is a result of a positive earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are optimistic about this group’s earnings growth potential. The industry’s earnings estimate for 2023 has moved up 27.3% since March 2023.Before we present a few stocks that you may want to add or retain in your portfolio, let’s look at the industry’s recent stock-market performance and its valuation picture.Industry Lags S&P 500 But Outperforms SectorOver the past year, the Zacks Transportation - Airline industry has gained 5.8% compared with the S&P 500 composite’s rise of 6%. The broader sector has declined 3.4% in the said time frame.One-Year Price PerformanceValuation PictureThe price/sales (P/S) ratio is often used to value airline stocks. The industry currently has a forward 12-month P/S of 0.44X compared with the S&P 500’s 3.71X. It is also below the sector’s forward-12-month P/S of 1.62X.Over the past five years, the industry has traded as high as 1.02X, as low as 0.33X and at the median of 0.64X.Forward 12-Month Price-to-Sales Ratio (Past Five Years)3 Stocks to Keep a Tab onRyanair Holdings’ growth prospects are being supported by an upbeat air travel demand scenario. Upbeat passenger volumes are leading to the company posting impressive traffic numbers over the past few months.Measures to expand its fleet to cater to the rising travel demand are encouraging as well. Riding on the buoyant air-traffic scenario, RYAAY shares have gained 31% year to date. RYAAY surpassed the Zacks Consensus Estimate for earnings in each of the last four quarters by 21.4%. Ryanair currently sports a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here  Price and Consensus: RYAAYUnited Airlines is seeing steady recovery in domestic and international air travel demand. Driven by the rosy air travel demand scenario, UAL expects third-quarter earnings per share in the $3.85-$4.35 band. Management has lifted its earnings forecast for 2023 and now expects 2023 earnings per share in the band of $11-12 (prior view: $10-$12).Riding on the buoyant air traffic scenario, UAL shares have gained 31.1% year to date. UAL surpassed the Zacks Consensus Estimate for earnings in three of the last four quarters and missed the mark on the other occasion. The average beat is 17.2%. UAL too currently sports a Zacks Rank #1.Price and Consensus: UALAmerican Airlines, currently carrying a Zacks Rank #3 (Hold), is benefiting from an improvement in air travel demand. Recently, American Airlines’ management lifted the earnings per share forecast for 2023. The company now expects 2023 earnings (on an adjusted basis) in the band of $3-$3.75 per share (earlier view was in the $2.5-$3.5 per share range).Driven by upbeat demand, current-year adjusted operating margin is now anticipated in the 7-9% band (earlier guidance:11-13%). The Zacks Consensus Estimate for AAL's current-year earnings has been revised upward by 17% in the past 60 days.  Price and Consensus: AAL         Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ryanair Holdings PLC (RYAAY): Free Stock Analysis Report United Airlines Holdings Inc (UAL): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

American Airlines (AAL) warns of high labor costs in the third quarter. Allegiant's (ALGT) load factor increases in July. In the past week, American Airlines AAL received encouraging tidings on the labor front when the company’s pilots, represented by Allied Pilots Association or APA, approved a four-year deal pertaining to wage increase. Due to the pay increase, management expects labor costs to increase in third-quarter 2023.Meanwhile, Allegiant Travel's ALGT traffic report for the month of July was impressive owing to the post-pandemic surge in air-travel demand. Driven by high passenger volumes, load factor (percentage of seats filled by passengers) in July inched up 0.7 points to 91.2% from the year-ago quarter.Read the last Airline Roundup here.Recap of the Past Week’s Most Important Stories1. The approval of the tentative agreement makes AAL’s pilots eligible for an immediate pay raise in excess of 21% on average. Also, the deal includes provisions aimed at improving pilots’ quality of life. The approval implies that company contributions to retirement plans will increase. The contract becomes amendable on Aug 1, 2027 and includes a provision that the next round of bargaining can begin as soon as November 2026. The four-year contract boosts the overall compensation of AAL pilots by more than 46% over its duration and is valued at $9.6 billion.The deal has provisions for retroactive pay for the first four months of 2023. This implies that $230 million will get reflected as additional expenses in the September-quarter results. Including the expenditures associated with the deal, American Airlines now expects third-quarter cost per available seat mile excluding fuel and net special items or CASM-ex to rise in the 4-6% band on a year-over-year basis (prior guidance: 2-4% year-over-year jump).2. In July, scheduled traffic (measured in revenue passenger miles) at ALGT was flat compared with July 2022 levels. Capacity (measured in available seat miles) for scheduled service also decreased marginally from the July 2022 reading. For the total system (including scheduled service and fixed fee contract), Allegiant carried more passengers in July 2023 from the year-ago period’s level. Total departures (scheduled services) increased 3.2% in July 2023 from its year-ago levels. Fuel price per gallon in July is estimated to have been $2.77 compared with $2.64 in June.3. JetBlue Airways JBLU reportedly aims to hike fares on Spirit Airlines’ SAVE flights by as much as 40% if the $3.8 billion deal materializes. JBLU intends to do away with 24 seats on an average from each of SAVE’s roughly 200 planes to reduce capacity and increase prices. The disclosure may jeopardize the chances of the deal, which was announced in July 2022, going through. The Justice Department is already challenging the deal with a trial expected to commence in October.Currently, JBLU carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Price PerformanceThe following table shows the price movement of the major airline players over the past week and during the past six months.Image Source: Zacks Investment ResearchThe table above shows that the majority of airline stocks traded in the red in the past week. The NYSE ARCA Airline Index declined 1% over the period to $61.22. Over the course of the past six months, the sector tracker has increased 1.8%.What's Next in the Airline Space?Stay tuned for the usual news updates in the space. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report JetBlue Airways Corporation (JBLU): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report Spirit Airlines, Inc. (SAVE): Free Stock Analysis Report Allegiant Travel Company (ALGT): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

Two L-39 planes collided during a training flight. Among the dead was a commander with the callsign Juice, who'd urged the US to provide F-16 jets. An Aero L-39C Albatros aircraft from Ukraine Air Force flies over Lviv, western Ukraine, on March 4, 2022.DANIEL LEAL/AFP via Getty Images Three Ukrainian pilots were killed Friday after a midair collision during a training flight. Among the dead was a commander with the callsign Juice, who'd urged the US to provide F-16 jets. The catastrophe comes as Western allies have begun offering pilot training to Ukraine's troops. Three Ukrainian pilots died Friday after a midair collision occurred during a training flight.Eyewitnesses told Radio Free Europe they saw the two L-39 planes collide during their flight after flying "closer and closer to one another" during the training exercise. The crash sent debris crashing down near the village of Sinhury."Yesterday, a disaster occurred in the sky over Zhytomyr region," Ukrainian President Volodymyr Zelenskyy said in a statement released Saturday, confirming the pilots' deaths. "Among them was Andriy Pilshchykov, call sign Juice. He was a Ukrainian officer, one of those who helped our country a lot. A lot! My condolences to the family and friends, to everyone who knew the guys."Zelenskyy added: "The investigation into what happened is ongoing. It's too early to talk about the details. Of course, all the circumstances will be clarified. Of course, Ukraine will never forget anyone who defended Ukraine's free sky. May they always be remembered!"In an interview last year with CNN, in which he lamented Russia's air superiority, Juice revealed his friends branded him with the nickname during a trip to the US because he would continually ask for juice during their nights out since he doesn't drink alcohol.When Anderson Cooper asked how it felt for Juice to join the war effort, he replied: "It's just my job. I was trained for this. I was ready for this war." The MiG-29 pilot returned to CNN in June to say that the summer counteroffensive would be "much more effective" and "safer for our guys on the ground" if the West supplied Ukraine with F-16s because the American-made fighter jets would be better able to compete with Russia's superior air power. Representatives for Ukraine's Ministry of Defense did not immediately respond to Insider's request for comment.The catastrophe comes just days after the US announced plans to provide jet pilot training for Ukrainians flying F-16s that Denmark and the Netherlands have supplied from their fleets. The Biden administration's agreement to offer pilot training on American soil, a reversal from comments made earlier this year, follows months of mounting international pressure and pleas from Ukrainian officials that F-16s would be a critical factor in defending against Russia's air force.The training, which will be conducted at Morris Air National Guard Base in Tucson, Arizona, will begin in October.Read the original article on Business Insider.....»»

AI Humanoid Pilot Might be Able To Solve Pilot Shortage Our readers know there's yet to be a quick solution to the US pilot shortage, which may linger until 2032. Current data shows a staggering 17,000-pilot gap. This shortfall can be attributed to several factors: Early retirements spurred by the pandemic. The unyielding retirement age of 65. A dwindling number of pilots from the military. The unappealing prospect for civilians to embark on a pilot career.  Airlines can only train 1,500 to 1,800 pilots a year. The deficit has triggered all sorts of flight disruptions, with the latest from American Airlines.  However, South Korean researchers from the Korea Advanced Institute of Science & Technology (KAIST) developed "Pibot," a life-sized humanoid robot that can fly planes and understand complex flight controls.  Flight news website Airways Magazine explains more about Pibot's capabilities: As the world continues to adapt to the growing trend of Artificial Intelligence (AI), South Korean scientists have unveiled a humanoid robot capable of piloting an aircraft. Named Pibot, the life-sized robot, measuring 160 cm tall and weighing in at 65 kg, is capable of gripping the controls, memorizing aircraft manuals, and even responding to emergency situations. It is fitted with multiple cameras capable of monitoring the aircraft's systems and operational conditions. Currently under development by the Korea Advanced Institute of Science & Technology (KAIST), researchers utilized Al chatbots such as ChatGPT to create ways for PiBot to learn the pilot manuals for various aircraft. The robot can then be changed onto an alternative airframe by clicking the type. It can also memorize worldwide Jeppesen aeronautical navigation charts, an impossible task for its human equivalent. PiBot can also communicate with air traffic control (ATC) and other humans on the flight deck, meaning it can operate via a Captain or First Officer. This has been done using Voice synthesis. By plugging the robot into the aircraft, it can communicate directly with the airframe. Airways Magazine explained the humanoid pilot has already demonstrated it can control an aircraft safely.  While it's clear a robo-pilot is not something the US Federal Aviation Administration would clear anytime soon -- it might catch the agency's attention amid the worst pilot shortage ever.  US airlines have been quietly lobbying Congress to allow them to use just one pilot in the cockpit instead of two. But with an increasing number of pilot deaths -- some even in mid-air -- one has to wonder: Is the FAA open to considering a mix between human and robot pilots in the cockpit?  Tyler Durden Fri, 08/25/2023 - 23:30.....»»

Investors interested in the airline industry would do well to keep stocks like these on their radar. With air travel demand bouncing back strongly from the pandemic lows, prospects of stocks in the Zacks Transportation – Airline industry appear bright indeed. It is well documented that air travel demand is particularly strong on the leisure front. What is more encouraging is that international demand made a roaring comeback.The decline in fuel expenses represents another tailwind for the industry. Driven by the abovementioned positives, investors interested in the industry would do well to keep stocks like Ryanair Holdings RYAAY, United Airlines UAL and American Airlines AAL on their radar. About the Industry The Zacks Airline industry players are engaged in transporting passengers and cargo to various destinations globally. Most operators maintain a fleet of multiple mainline jets in addition to several regional planes. Their operations are aided by their regional airline subsidiaries and third-party regional carriers. Additionally, industry players utilize their respective cargo divisions to offer a wide range of freight and mail services. The players invest substantially to upgrade technology. The industry, apart from comprising legacy carriers, includes low-cost players. The well-being of companies in this group is linked to the health of the overall economy. For example, the aviation space was one of the worst pandemic-hit corners, with passenger revenues taking a beating. However, air travel demand is extremely rosy now. The focus on boosting cargo revenues is a positive too. Factors Relevant to the Industry’s Fortunes Rosy Air Traffic Scenario: The stronger-than-expected recovery in air travel demand from pandemic lows is a huge positive for the industry, which was one of the worst hit in the peak COVID-19 period. The removal of COVID-related restrictions is aiding air travel, which is now strong on the international front as well. Reflecting the recovery in air travel demand, overall global traffic was up 47.2% in the first half compared with the year-ago period, with double-digit increases on both the domestic and international fronts, per IATA. People are again resorting to air travel as they resume their normal activities. Expecting the strong passenger volumes to continue, some airline companies like United Airlines have lifted their earnings per share view for the current year. Declining Fuel Costs: The southward movement of oil price bodes well for the bottom-line growth of industry participants. This is because fuel expenses are a significant input cost for the aviation space. Notably, oil price declined 6.6% in the April-June period of 2023. Per IATA, the average jet fuel cost is expected to be $98.5 per barrel in 2023 (earlier forecast was $111.9 per barrel). High Labor Costs: Increased operating costs are limiting bottom-line growth. With expenses on fuel moving south, costs will likely continue to be steep going forward due to escalated labor costs. Moreover, as U.S. airlines grapple with pilot shortage, the bargaining power of this labor group has increased. As a result, we have seen pay-hike deals being inked in the space. This is resulting in a spike in labor costs. American Airlines recently lifted its forecast for third-quarter non-fuel unit costs due to the four-year pay-related deal with pilots. Zacks Industry Rank Signals Bright Prospects The Zacks Airline industry is a 28-stock group within the broader Zacks Transportation sector. The industry currently carries a Zacks Industry Rank #74, which places it in the top 29% of 250 plus Zacks industries. The group’s Zacks Industry Rank, basically the average of the Zacks Rank of all the member stocks, indicates bright near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperforms the bottom 50% by a factor of more than 2 to 1. The industry’s positioning in the top 50% of the Zacks-ranked industries is a result of a positive earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are optimistic about this group’s earnings growth potential. The industry’s earnings estimate for 2023 has moved up 27.3% since March 2023. Before we present a few stocks that you may want to add or retain in your portfolio, let’s look at the industry’s recent stock-market performance and its valuation picture. Industry Lags S&P 500 But Outperforms Sector Over the past year, the Zacks Transportation – Airline industry has gained 5.8% compared with the S&P 500 composite’s rise of 6%. The broader sector has declined 3.4% in the said time frame. Valuation Picture The price/sales (P/S) ratio is often used to value airline stocks. The industry currently has a forward 12-month P/S of 0.44X compared with the S&P 500’s 3.71X. It is also below the sector’s forward-12-month P/S of 1.62X. Over the past five years, the industry has traded as high as 1.02X, as low as 0.33X and at the median of 0.64X. 3 Stocks to Keep a Tab on Ryanair Holdings’ growth prospects are being supported by an upbeat air travel demand scenario. Upbeat passenger volumes are leading to the company posting impressive traffic numbers over the past few months. Measures to expand its fleet to cater to the rising travel demand are encouraging as well. Riding on the buoyant air-traffic scenario, RYAAY shares have gained 31% year to date. RYAAY surpassed the Zacks Consensus Estimate for earnings in each of the last four quarters by 21.4%. Ryanair currently sports a Zacks Rank #1 (Strong Buy). United Airlines is seeing steady recovery in domestic and international air travel demand. Driven by the rosy air travel demand scenario, UAL expects third-quarter earnings per share in the $3.85-$4.35 band. Management has lifted its earnings forecast for 2023 and now expects 2023 earnings per share in the band of $11-12 (prior view: $10-$12). Riding on the buoyant air traffic scenario, UAL shares have gained 31.1% year to date. UAL surpassed the Zacks Consensus Estimate for earnings in three of the last four quarters and missed the mark on the other occasion. The average beat is 17.2%. UAL too currently sports a Zacks Rank #1. American Airlines, currently carrying a Zacks Rank #3 (Hold), is benefiting from an improvement in air travel demand. Recently, American Airlines’ management lifted the earnings per share forecast for 2023. The company now expects 2023 earnings (on an adjusted basis) in the band of $3-$3.75 per share (earlier view was in the $2.5-$3.5 per share range). Driven by upbeat demand, current-year adjusted operating margin is now anticipated in the 7-9% band (earlier guidance:11-13%). The Zacks Consensus Estimate for AAL’s current-year earnings has been revised upward by 17% in the past 60 days. Ryanair Holdings PLC (RYAAY): Free Stock Analysis Report United Airlines Holdings Inc (UAL): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research This article originally appeared on Zacks Sponsored: Find a Qualified Financial Advisor Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now......»»

Ukraine Won't Receive Dutch F-16 Fighters Until End Of 2024 Via Remix News, Ukraine will have to wait for the promised Dutch F-16 jet aircraft until the end of next year, as some of the planes are currently still in active duty in the Netherlands, Hungarian daily Magyar Nemzet reports. “The Dutch Air Force will first have to switch to the new F-35, a process that could take until the end of next year,” a spokesman for the Dutch Ministry of Defense told the NRC Handelsblatt newspaper on Tuesday. As Remix News reported recently, Ukrainian President Volodymyr Zelensky has secured a promise of up to 61 F-16 fighter aircraft from Denmark and the Netherlands during his latest Western European tour for support. The first six aircraft are expected around the new year. F-16 of the Royal Netherlands Air Force at a U.S. training with the Arizona Air National Guard. (nationalguard.mil) According to NRC Handelsblatt, the Netherlands does have 42 F-16s, but none are immediately available. At Volkel Air Base, one of the Netherlands’ main military airfields, the air force continues to use 24 F-16s to monitor Benelux airspace. “These aircraft can only be delivered to Ukraine when the F-35s take their place,” a defense spokesman told NRC. The spokesman said the transition to F-35s could happen more quickly if training and other prerequisites go well, but confirmed that the process would still take several months. In addition to the F-16s in service, the Dutch air defense has 18 such aircraft in reserve. Twelve of these were to be sold to the U.S. defense company Draken International, but this was scuppered by a dispute over the maintenance status of the aircraft. The defense ministry is now examining whether the two-seater aircraft could be used to train Ukrainian pilots in Denmark and Romania. Tyler Durden Wed, 08/23/2023 - 10:45.....»»

Air safety investigator Anthony Brickhouse said the fact that the near-crashes are so high-profile is a good thing for grabbing regulator attention. A New York Times investigation found near-miss incidents are happening more regularly around the US than the public initially thought.AaronP/Bauer-Griffin/GC Images via Getty Images A spike in near-miss events between commercial aircraft in the US this year has rattled the general public. The Federal Aviation Administration has created a safety review committee to comb through data and look for trends. The New York Times cited a shortage of air traffic controllers as a significant factor in the string of close calls. The US airline industry has narrowly avoided what could have been some of the worst disasters in its history. And, for regulators, the incidents were too close for comfort.In mid-January, a Delta Air Lines Boeing 737 was rolling for takeoff at New York's John F. Kennedy International Airport when an American Airlines Boeing 777 crossed the same active runway, forcing the Delta plane to abruptly stop to avoid a collision.In early February, a FedEx Boeing 767 cargo jet nearly landed on top of a Southwest Boeing 737 airliner in Austin, Texas, coming within 100 feet of each other. A JetBlue Airways plane and a private jet then had a "close-call" a few weeks later.These high-profile events have been heavily reported on already, but safety data from the Federal Aviation Administration and analyzed by the New York Times suggests they are actually happening more than initially thought. According to the Times, at least 46 incidents occurred in July alone, citing human error as a main factor in the near-misses — including one in which two planes operated by Frontier Airlines and Southwest Airlines came within 100 feet vertically of each other in Denver.Some of the events are reminiscent of the deadliest plane crash ever — the tragic collision of two Boeing 747 jets in Tenerife, Spain in 1977 that killed 583 people. It's history the industry doesn't want to repeat.A "call to action"Former FAA acting administrator Billy Nolen made a call to action to address the spike in near-misses.Anna Moneymaker/Getty ImagesSince March, regulators and aviation professionals have come together to mitigate the concerning near-miss incidents, including the FAA's Tuesday announcement that it will hold safety meetings at approximately 90 airports across the US in the coming weeks."Sharing information is critical to improving safety," Tim Arel, the COO of the FAA's Air Traffic Organization, said in a press release. "These meetings, along with other efforts, will help us achieve our goal of zero close calls."The move will complement the FAA's newly-established safety review committee, as well as the safety summit it hosted in March to discuss ways to mitigate risks."The proximity with these recent events in terms of how close those aircraft got to one another definitely catches everybody's attention. "Anthony Brickhouse, an air safety investigator and associate professor at Embry Riddle Aeronautical University, told Insider. "And, the fact that these events are so high profile and garnered so much attention means that eyes are really on it and that exposure is a good thing." During breakout sessions at the safety summit, officials offered theories like inexperienced first officers and overworked air traffic controllers as contributing to the near-disasters.The Times pointed to the challenges surrounding air traffic controllers, in particular, as a root cause. Not only are a majority of ATC facilities not meeting staffing thresholds, but controllers are also facing fatiguing work schedules that could impact performance — potentially putting safety at risk.But, tired employees are not the only concern. Airline pilot and aerospace expert Kathleen Bangs told Insider that complacency could also be creeping in, especially since there has not been a mass casualty plane crash in the US since 2009. "We have been in a stretch of historical unprecedented safety," she said. "And, what that means is there can be a tendency for any system to get complacent when things are going so well."Flying is still safeDelta airplanes line up on the taxi way after Delta Air Lines' computer systems crashed on Monday, grounding flights around the globe, at Hartsfield Jackson Atlanta International Airport in Atlanta, Georgia, U.S. August 8, 2016.REUTERS/Tami ChappellDespite mounting concerns, runway incursions are statistically rare considering millions of planes take off and land every year. And, according to FAA data revealed on Monday, the rate is trending down as regulators work to address risk.The overall rate per one million takeoffs and landings has been decreasing since 2021 after the 2020 pandemic lull, and currently sits below 2019 levels — though the number is likely to change by the end of the year.The most serious events — known as "Category A" and "Category B" incursions — were the highest in January at 1.0 per one million takeoffs and landings, but fell to 0.210 in June. The lowest rate, per the FAA, was in May with a 0.00 rate of occurrences.The near crashes have also prompted more conversations about the importance of technology. Austin airport where the Southwest/FedEx event occurred did not have the same ground surveillance system that alerted the New York-JFK controller of the Delta/American near-crash.The FAA has since announced a more than $100 million safety investment at 12 US airports to reduce runway incursions — granted, Austin isn't one of them."Multiple layers of safety protect the traveling public, including Traffic Collision Avoidance Systems [TCAS] on commercial aircraft, surface safety technology at the country's biggest airports, and robust procedures," the agency said in a press release regarding the Times findings. "Air traffic controllers and pilots all play critical roles."TCAS, which alerts pilots to a possible collision, is one of the most critical safety systems in the cockpit and acts as another line of defense in the case of miscommunication or human error.While technology is important, Brickhouse says humans are still essential to aviation safety."Technology is to support and to supplement the human, but never to replace," he told Insider.Despite the near-disasters, the chance of being in a fatal air crash is about 1 in 11 million — and Brickhouse emphasized it is still the safest mode of transportation. And, at the end of the day, all of the safeguards and redundancies — humans and technology — have worked together to prevent an accident."If you successfully drive to the airport, the riskiest portion of your travel is pretty much behind you," he told Insider. "Aviation is still incredibly safe even though we do have close calls from time to time, and everything did work out."Read the original article on Business Insider.....»»

An air traffic controller shortage is part of the reason so many planes nearly collide. The job pays well but is also high stress. Associated Press A New York Times investigation finds airplanes are nearly colliding multiple times a week. Part of that can be chalked up to the air traffic controller labor shortages. Air traffic control is understaffed throughout the country, and staff are working long hours. Airplanes keep almost hitting each other — and one reason is a shortage of workers whose job it is to make sure they don't.A recent investigation by the New York Times found that, in July alone, there were nearly 50 almost-collisions in the US. Earlier this month, a Southwest Airlines flight and a private jet came within 100 feet of one another on a San Diego runway. A preliminary review by the FAA determined air traffic control had cleared the Cessna jet to land on the same runway that it had previously cleared a Southwest Airlines flight to taxi to and wait for permission to take off. The Times found — through an analysis of FAA records and a NASA aviation database — that close-call incidents like these are often the result of human error, such as mistakes made by air traffic controllers who are chronically understaffed. The recent rise in close call incidents involving commercial airlines is in part due to a widening hole in what's called the "Swiss cheese model," a framework for ensuring safe traveling. Under the model, the idea is that the different factors that go into ensuring planes land safely all have certain weaknesses. Those vulnerabilities could include the weather, a pilot's amount of sleep, wildlife, what the pilot ate for breakfast, or other human error. When you layer enough pieces of holey cheese, and make sure the holes don't line up, it creates a solid layer of security against disaster. In this case, air traffic controllers are a key piece of cheese, making sure that the holes are caught by someone monitoring the situation on the ground. Except there's not enough air traffic controllers. A government audit released in June found that 77% of critical air traffic control facilities in the US are staffed below the recommended threshold.The report concluded that the FAA "lacks a plan to address" the shortages, noting that due to training delays caused by COVID-19, the agency cannot ensure it will successfully train enough controllers in the short term.Air traffic control is a well-paid, high risk job that requires lots of trainingThe shortages aren't due to a lack of interest — the FAA received over 58,000 applicants for 1,500 air traffic controller positions (which pay a median salary of nearly $128,00) last year.But new hires can't immediately start on the job. Air traffic controllers have to go through rigorous training that can take over three years to complete. In addition, applicants must be younger than 31 years old and are required to retire by age 56.Staffing shortages "have placed a tremendous amount of strain on air traffic controllers," Rich Santa, president of the National Air Traffic Controllers Association, said in a statement to Insider."We saw the effect that air traffic controller staffing shortages had on air travel this summer, and although there has been an increased focus on training, the hiring process to overcome the staffing shortage takes years," Santa said, adding that many air controllers are working mandatory overtime of 10-hour shifts for six days a week. "Air traffic controllers are doing an exemplary job in a very difficult situation, but this is not sustainable."In May, Secretary of Transportation Pete Buttigieg told CNN that air traffic control needed 3,000 more workers to be fully staffed.The FAA has hired 1,500 air traffic controllers this year and has an additional 2,600 controllers currently in training, the agency said in a statement.Following a March safety summit with industry leaders and labor organizations, the FAA announced steps to ensure supervisors devote their full attention to the operation and airfield during peak traffic, as well as launched a series of monthly safety briefings for air traffic controllers, the agency added.'We are seeing controllers taken out in ambulances'Despite the FAA's recent hiring efforts and training initiatives, air traffic controllers are experiencing the impact of short staffing acutely, according to an Insider analysis of safety reports voluntarily submitted to NASA by air traffic controllers, pilots, and other aviation personnel. At least 20 reports submitted to the database over the last two years mentioned air traffic control staffing levels as a safety issue. "As our operations continue to grow we need more staffing to ensure controllers are not put in these positions," one air traffic controller wrote of a January 2023 incident where they were dealing with too many aircraft and unable to quickly help an aircraft with a landing issue. "We're already working 6 day workweeks with shortened breaks, and these types of safety issues require us to be at our peak." One controller based at the Southern California TRACON, one of the busiest air traffic control facilities in the country, said they took sick leave after issuing the incorrect altitude clearance to a pilot. They cited fatigue from a lack of adequate down time as a contributing factor to the mistake. "If I can make a small mistake like that, I can make a bigger one. I am back to work today on my 6th day. I wish I could say a recommendation would be that we don't have to work so much overtime," they wrote in a report submitted in June 2022. "It's frustrating that we are behind in hiring and there is no light at the end of the tunnel. I'm sure the continuous OT has caused some consistent fatigue."In a report submitted in February 2022, another air traffic controller with 20 years of experience based at the Jacksonville control center said controllers are routinely working 60 hours a week and are "written up if they call in sick due to fatigue." "We are seeing controllers taken out in ambulances and we have had more than one resign. We are putting the controllers in an unsafe situation each and every day," the controller wrote. "I have never seen the morale so low or the workforce so defeated, disgruntled and exhausted."They continued: "Something needs to change soon because safety is compromised every single day. I am at home writing this report on my own time because I know that there will be no duty time available tomorrow and I already know that I will walk into understaffed areas."Are you an air traffic controller dealing with understaffing? Contact these reporters at htowey@insider.com and jkaplan@insider.com.Read the original article on Business Insider.....»»

A recent analysis reveals which domestic carrier ranked last in on-time arrivals percentages, cancelation rates and more. Airline quality and airport quality have been plagued since the middle of the COVID-19 pandemic. Airlines laid off pilots, plane crews and administrators as travel stopped. They also put hundreds of planes into temporary storage. Most airlines only survived because of government loans. As heavy travel reemerged, there were too few workers, and planes had to be put back into service quickly; demand was too high for airlines to offer quality service. As travel bans ended completely, planes were full, people faced hours-long delays, and deteriorated inflight service. Winter and violent summer storms made delays worse. (These are America’s 26 worst airports.) Bounce looked at carrier services in the United States and overseas and ranked these airlines. As part of the methodology, on-time arrivals percentages and cancelation rates were recorded from OAG.com. Data was calculated by averaging the monthly data across 2022. Meals, inflight entertainment, seat comfort and staff service ratings were from Skytrax. Exact baggage weights for each airline vary depending on ticket class and destination. These weights often caused extra charges for passengers. Complaint figures for 2022 came from the Office of Aviation Consumer Protection. The study was unusually comprehensive. The authors wrote: “We’ve compared 60 airlines across various factors, from the number of on-time arrivals to the quality of in-flight catering, to bring you the up-to-date 2023 Airline Index.” Carriers were rated with a score of 0 to 10. Allegiant Air ranked last among domestic carriers with a low score of 0.74. According to the study: “Allegiant performed the worst for both reliability factors, with just 64.08% of flights arriving on time and a cancellation rate of 4.42%.” ALSO READ: 30 Experiences That Should Be on Every American’s Bucket List wallst_recirc_link_tracking_init( "72150519464e4a068d9b9f", "text" ); The Allegiant business model is to fly people from northern metros to warmer cities in the south. Its top destinations by passenger traffic are Orlando, Las Vegas and St. Petersburg. The Allegiant Travel Company owns the carrier. Sponsored: Tips for Investing A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now. Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit......»»

Several of the near collisions were linked to mistakes made by air traffic controllers, a workforce that's severely understaffed. Close-call incidents are often the result of human error, such as mistakes made by air traffic controllers and pilots, a New York Times investigation found. Tayfun Coskun/Anadolu Agency via Getty ImagesAirlines have reportedly averaged multiple close-call incidents per week this year, the New York Times reported. It's just one finding from a New York Times investigation into the startling incidents.In July, there were at least 46 near-miss incidents involving commercial planes, the report says.Near-miss collisions between planes have made headlines in recent months, but the startling incidents have been happening far more frequently than previously thought, a New York Times investigation found.On average, there have been multiple airline close calls per week so far this year, the report says. In July, there were at least 46 near-miss incidents involving commercial airlines, according to Federal Aviation Administration safety reports reviewed by the Times.Earlier this month, a Southwest Airlines flight and a private jet came within 100 feet of one another on a San Diego runway, sparking two federal investigations. Just a few weeks prior, a flight attendant was injured after an Allegiant Air flight was forced to take "evasive action" to avoid a mid-air collision.None of the recent close-call incidents have resulted in fatalities. US commercial airlines have been zero fatal crashes since 2009, earning the US aviation system the reputation of being the safest in the world.Following a batch of near-catastrophic incidents at the beginning of this year, the FAA created a safety review committee and held a safety summit with industry leaders and labor organizations. Since then, the agency has taken six steps to advance its goal of "zero serious close calls," including a $100 million investment to reduce runway incursions at 12 airports."The FAA and the aviation community are pursuing a goal of zero serious close calls, a commitment from the Safety Summit in March," the agency said in a statement published in response to the Times report. "Multiple layers of safety protect the traveling public, including: Traffic Collision Avoidance Systems on commercial aircraft, surface safety technology at the country's biggest airports, and robust procedures. Air traffic controllers and pilots all play critical roles."Several of the close calls were linked to mistakes by air traffic controllers, a workforce that's severely understaffedA government audit released in June found that 77% of critical air traffic control facilities in the US are staffed below the recommended threshold. Shaun Best/ReutersClose-call incidents are often the result of human error, such as mistakes made by air traffic controllers and pilots, the investigation found.The US continues to face a shortage of air traffic controllers, with 77% of critical air traffic control facilities in the US staffed below the recommended threshold, according to a government audit released in June.The report, published by the Transportation Department Office of Inspector General, concluded that the "FAA has made limited efforts to ensure adequate controller staffing at critical air traffic control facilities" and "lacks a plan to address" the staffing challenges.The FAA says it has hired 1,500 air traffic controllers so far this year. They will join the 2,600 controllers who are currently in training, a certification process that can take more than three years to complete.Are you an air traffic controller or training to become one? Have a tip or story to share? Email this reporter at htowey@insider.com.Read the original article on Business Insider.....»»

President Volodymr Zelenskyy met with Swedish Prime Minister Ulf Kristersson to discuss various efforts to support the country's fight against Russia. A Hungarian Air Force JAS-39 Gripen on August 7, 2010.REUTERS/Stringer President Volodymyr Zelenskyy spoke about the possibility of Ukrainian forces using Gripen jets on Saturday.  The Swedish jets were specifically built to take on Russia's advanced fighter jets.  Of the six countries that fly the jet, only two support Ukraine. President Volodymyr Zelenskyy and Sweden began talks of using Swedish Gripens, fighter jets Ukrainian officials have been eyeing to take down Russia's air defenses and bolster their own. Zelenskyy met with Swedish Prime Minister Ulf Kristersson on Saturday and spoke of the JAS 39 Gripen jets during a joint press conference in Ukraine, according to a statement from Zelenskyy on X. Zelenskyy also announced that Ukrainian pilots are training on the planes."Today we discussed in detail the future steps regarding the possibility of opening the subject of receiving Swedish Gripens," Zelenskyy said in the joint press conference, per Reuters.Sweden previously said it would not send these jets to assist the war effort. —Володимир Зеленський (@ZelenskyyUa) August 19, 2023   This week, the United States finally approved plans to deliver F-16 fighter jets to Ukraine, which the country's officials have asked for since the air battle between Russia has reached a stalemate.A top US general warned that the new F-16s would not be a "silver bullet" solution to take down Russia's forces, Insider's Christopher Woody and Jake Epstein reported. Ukranian fighters have also faced critical delays in pilot training that could further hinder its counteroffensive.Although much attention is focused on F-16s, experts have lauded the Gripens as a better fit for Ukrainian soldiers. For one, the Gripen's electronic-warfare capabilities are reportedly able to outmaneuver Russia's Sukhoi jets, which have even eluded F-16s.A Swedish JAS-39 Gripen fighter jet over Sweden on February 18, 2022.US Air Force/Tech. Sgt. Corban LundborgAdditionally, experts from the Royal United Services Institute argued that the plane's simplicity and ability to be "be refueled, re-armed, and given basic maintenance by teams of just six ground" would be helpful to Ukrainians trying to evade the watch of Russia's forces, Insider previously reported.However, Insider previously reported that the aircraft has never been used in combat and comes in limited supply. Of the six countries that use the jet, only two — Sweden and the Czech Republic — have supported the Ukrainian war effort. Brazil, South Africa, and Thailand remain neutral, and Hungary has refused to give weapons to Ukraine. According to Zelenskyy, the president and prime minister also discussed the production of CV-90s armored vehicles, an infantry fighting vehicle already utilized by Ukrainian troops.The Ukraine Ministry of Defense did not immediately respond to Insider's request for comment.Read the original article on Business Insider.....»»

Platte Valley Airpark near Denver has been privately owned since the 1960s. The property comes with a small house and its own radio frequency. A house, hangar, and observation tower on the $4.1 million property.Travis Woolford for LIV Sotheby’s International Realty Platte Valley Airpark, 45 minutes north of Denver, has been privately owned since the 1960s.  Two runways, a large hangar, and a radio frequency are included in the $4.1 million purchase price. The 226-acre property also comes with a house, and could be used residentially or commercially. For buyers with sky-high dreams, a one-of-a-kind, $4.1 million airport hit the market near Fort Lupton, Colorado.The observation tower.Travis Woolford for LIV Sotheby’s International RealtySource: Sotheby's RealtyBuilt in the 1960s, the original owner envisioned the estate as an amusement park, listing agent Josh Jackson told Insider.The property at sunset.Travis Woolford for LIV Sotheby’s International RealtyBut since the 1990s, a dozen investors have operated the airpark as an "accessible hub for aviators of all passions," said Jackson, where pilots could store their vehicles for $250 a month.An aerial view of Platte Valley Airpark.Travis Woolford for LIV Sotheby’s International RealtyNow, the sprawling property, located about 45 minutes north of Denver, is whipping up the imaginations of potential buyers.A runway on the property.Travis Woolford for LIV Sotheby’s International RealtySpanning 226 acres, the property comes with a two-bedroom, two-bathroom house and a three-story observation tower.A plane.Travis Woolford for LIV Sotheby’s International RealtyIt has enough hangars to store 78 aircraft and the property is also being sold with its own radio frequency.A hangar.Travis Woolford for LIV Sotheby’s International RealtyJackson said some buyers are envisioning the site's business development opportunities.A hangar.Travis Woolford for LIV Sotheby’s International RealtyThe space could operate as a flight school or an entirely new airpark, with the potential for restaurants and other ventures.Inside a hangar.Travis Woolford for LIV Sotheby’s International RealtyOr it could simply offer storage space that Jackson said is greatly in-demand for pilots.A storage space.Travis Woolford for LIV Sotheby’s International RealtyOne potential buyer has expressed interest in the airpark's ability to house his antique car collection.A gas station on the property.Travis Woolford for LIV Sotheby’s International RealtyThe two-bedroom home on the property has been rented over the years and could be used by an airpark manager or an aviation enthusiast.The on-site home.Travis Woolford for LIV Sotheby’s International RealtyJackson said one group has expressed interest in converting the property into a "fly-in, fly-out" community, which would require building many homes on the property.A hangar.Travis Woolford for LIV Sotheby’s International RealtyOwners would keep their planes in garages like cars. "Instead of driving down your street to the grocery store, you taxi down the street in your airplane," Jackson explained.A hangar.Travis Woolford for LIV Sotheby’s International RealtyBut Jackson said the plan would require "heavy-duty" work with the county. It's currently unincorporated, meaning it doesn't have a municipal government.An on-site office.Travis Woolford for LIV Sotheby’s International RealtyJackson said his favorite space on the property is the top sky deck of the three-story observation tower.Inside the observation tower.Travis Woolford for LIV Sotheby’s International Realty"It's so cool to sit back and see the Rockies, the wide-open plains, and watch the planes coming and going," he told Insider.Inside the observation tower.Travis Woolford for LIV Sotheby’s International RealtyThe entire tower maintains a casual, retro feel that harkens back to the property's 1960s roots.A staircase in the observation tower.Travis Woolford for LIV Sotheby’s International RealtyCurrently, the property's runways are better suited to smaller aircraft.An office.Travis Woolford for LIV Sotheby’s International RealtyAccommodating vehicles like a Gulfstream jet — the kind of aircraft billionaires like Elon Musk and Jeff Bezos own — would require lengthening the runways, Jackson said.An office.Travis Woolford for LIV Sotheby’s International RealtyThe property has FAA approval for recreational activity and also comes with mineral rights for oil located on the estate.A break room.Travis Woolford for LIV Sotheby’s International RealtyJackson said his favorite moments on the property have been walking around and touring the different aircraft stored there.An aerial view of the property.Travis Woolford for LIV Sotheby’s International RealtyJackson compared it to a life-sized version of model plane sets. "It makes you feel like a kid again," he said.A runway.Travis Woolford for LIV Sotheby’s International RealtyRead the original article on Business Insider.....»»

The F-16 will be better suited for Western-made weapons than Ukraine's Soviet-era jets, but it won't be a "silver bullet," Gen. James Hecker said. Romanian F-16s on a NATO Air Policing mission on July 4.Photo by JOHN THYS/AFP via Getty Images Dutch officials say the US has finally authorized the delivery of American-made F-16s to Ukraine. F-16s will be more capable than Kyiv's jets, but they aren't silver bullets, a top US general said. The jets will be better suited for the Western-made weapons that Ukraine is already using, however. The US has signed off on plans to transfer F-16 fighter jets from Denmark and the Netherlands to Ukraine after Ukrainian pilots complete their training on the jet, paving the way for F-16s to arrive as soon as early next year.F-16s would be an improvement for Ukraine's air force, but anyone expecting them to start knocking out top Russian air defenses as soon as they get into battle will likely be disappointed, the top US Air Force general in Europe said Friday.Ukraine's MiG-29s "are pretty capable," Gen. James Hecker, commander of US Air Forces in Europe, said during a Defense Writers Group event, but F-16s will be better suited for the Western-made weapons that Ukraine has received, like the radar-hunting missiles the US began providing a year ago."Right now, weapons that we're giving them have to be adapted to go on a MIG-29 or to go on a Su-27 or something like that," Hecker said, adding that F-16s are "already interoperable" with those weapons, "so that will help out and give them an added capability."Portuguese and Romanian F-16s at Siauliai airbase in Lithuania during a NATO exercise on July 4.Photo by JOHN THYS/AFP via Getty ImagesUkrainian officials have repeatedly asked for F-16s, arguing they would provide an edge against Russia's larger and more advanced air force. Hecker and other US officials have said F-16s would have limited utility for Ukraine right now, in large part because of the extensive air-defense weaponry deployed by both sides, which has prevented either from gaining air superiority."It's not going to be the silver bullet and all of a sudden they're going to start taking down SA-21s because they have an F-16," Hecker said Friday, using the NATO designation for Russia's modern S-400 air-defense system.In addition to anti-radar missiles, Ukrainian jets have employed US-made guided bombs, which Russia has countered with electronic warfare. While F-16s would allow Ukraine to better employ those weapons, Hecker said Russia's military will continue to adapt and adjust.Russian forces are staying out of the range of the missiles Ukraine is using now, Hecker told reporters, "and then any time we give them a new capability, we might hit one of [Russia's] command posts and they go, 'Oh, now they can go 20 miles as opposed to 15,' and then we see them adapt and they move all their command posts back to 25 miles."The Russians would likely respond the same way to Ukrainian F-16s, "and the problem is you won't be able to chase them down in the F-16 over their land to get close enough because you'll get shot by one of the Russian surface-to-air missiles," Hecker added.Training Ukraine's pilotsA bus with the slogan of the "Arm Ukraine" campaign in Vilnius, Lithuania, during the NATO Summit on July 11.Photo by Beata Zawrzel/NurPhoto via Getty ImagesDutch officials first announced this week that the US had finally approved the delivery of F-16s to Ukraine, allowing the much-anticipated training of pilots to move forward."I welcome the US decision to clear the way for delivery of F-16 jets to Ukraine," Dutch Defense Minister Kajsa Ollongren said Friday. "It allows us to follow through on the training of Ukrainian pilots. We remain in close contact with European partners to decide on the next steps."Wopke Hoekstra, the Dutch foreign affairs minister, thanked US Secretary of State Antony Blinken for the cooperation and said the approval "marks a major milestone for Ukraine to defend its people and its country."The Netherlands is one of several NATO countries that pledged in July to train Kyiv's pilots to fly F-16s. Ukrainian officials said at the time that training would begin soon. Although the timeline has been somewhat unclear, Denmark — one of 11 countries in the coalition — announced on Friday that it would start training pilots later this month."The US is prepared to support the training effort in coordination with the coalition, and is willing to host training for Ukrainian pilots within the US if the capacity of training is reached in Europe," Pentagon press secretary Air Force Brig. Gen. Pat Ryder said in a statement to Insider.A US Air Force F-16 takes off at Yokota Air Base in Japan.Yasuo Osakabe/US Air ForceHecker said Friday that training had begun with "young pilots that barely have any hours at all, so they're not currently fighting in the war." Those fliers are getting language training in the UK and will go through more training on propeller-driven planes before heading to France to fly in the Alpha Jet training aircraft."That all is going to take time, and that's probably not going to happen before the end of the year," Hecker added. "So that's why it's going to be at least until next year until you see F-16s in Ukraine." The rapid depletion of Ukraine's Soviet-era military hardware and the swift influx of Western-made weapons has transformed Ukrainian arsenals. Experts and officials have said Ukraine's air force will ultimately have to shed its Soviet-designed jets, which are getting harder to maintain, and adopt Western-made jets.But training and equipping Ukrainian airmen to operate F-16s and other sophisticated jets will be a long-term project, Hecker said Friday."To get proficient in the F-16, that's not going to happen overnight. You can get proficient on some weapons systems fairly quickly, but ones like F-16s, that takes a while to build a couple squadrons of F-16s and to get their readiness high enough and their proficiency high enough," he said."This will be four or five years down the road," he added. "But I think in the short-term that will help a little bit, but it's not the silver bullet."Read the original article on Business Insider.....»»