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Boeing slashes jet output, eyes factory shake-up as COVID-19 hammers sales

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(Reuters) – Boeing Co (BA.N) slashed production of its biggest twin-engined jets, delayed its new 777X by up to a year and began sunsetting the iconic 747 as it posted a bigger-than-expected quarterly loss dominated by the COVID pandemic on Wednesday.

The cuts mark the industry’s latest effort to tackle a crisis that has decimated demand for air travel, with oversupplied wide-body models like the 787 Dreamliner and 777 plunging deeper into an existing downturn.

Boeing also remains exposed to tensions between the United States and China, which has shelved plans to buy big U.S. jets.

“Our industry and our company are weathering challenges like none we have ever experienced in our lifetimes,” Chief Executive Dave Calhoun told analysts.

Boeing said it would cut 787 output to six a month in 2021 – down from a previous goal of seven and the third such cut since a year ago when output touched a record 14 a month.

It also plans to cut combined output of the 777 mini-jumbo and its new 777X sister model to two a month in 2021 from a previous goal of three, while delaying the 777X entry to service by a year to 2022, confirming a Reuters report.

Boeing shares fell 3% partly on the lower production, though analysts said it had managed to contain its cash burn, a central concern for investors.

Boeing lost an adjusted $4.79 per share, against average estimates of a loss of $2.54, according to Refinitiv IBES data.

The commercial airplanes unit was hit by $468 million in severance expenses related to plans to cut 19,000 jobs of its roughly 160,000 workforce and Boeing warned deeper cuts were possible.

“We’ll have to further assess the size of our workforce,” Calhoun told employees.

The financial impact of the health crisis has compounded the safety grounding of Boeing’s narrow-body 737 MAX 16 months ago.

Calhoun told analysts MAX deliveries would resume in the fourth quarter, a fresh delay of several weeks that raises the prospect that its U.S. return to service could slip into 2021.

Boeing also slowed plans to lift battered MAX production, by pushing its target of 31 jets a month into 2022 from 2021.

“We still see a path to positive cash flow in 2021,” CFO Greg Smith added, noting it would take a year after MAX deliveries begin to clear a backlog of around 450 parked jets.

787 factory study

In a further shake-up, Calhoun said Boeing was looking at whether to consolidate 787 production in one location as it cuts output.

It splits production on the 787 Dreamliner between Everett, Washington, and North Charleston, South Carolina.

That raises questions over the future of the Everett hub because the largest 787-10 can only be built in South Carolina.

Smith said Boeing would be able to return to a rate of 10-11 787s monthly at some point.

Calhoun said it was too early to predict the outcome of the study, part of a wider industrial reassessment.

The wide-body production cuts reflect fears that it could take until 2023 for air traffic to return to normal levels. Long-range routes – served by bigger jets like Boeing 787 and Airbus (AIR.PA) A350 – have been hit harder than short hops.

Industry sources said Boeing’s production cuts would put pressure on Airbus to further cut its own wide-body production. Airbus declined comment ahead of earnings on Thursday.

Boeing also confirmed the last of its legendary 747 would roll out of the factory in 2022.

The easily spotted hump-topped jumbo had democratized global air travel in the 1970s and was a favorite of presidents and potentates, before it fell behind modern twin-jets.

The coronavirus pandemic has added to the pain.

Reporting and photo: Reuters

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BBM renews as Title Partner of Hotelier Maldives Awards under multi-year agreement

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Hotelier Maldives has announced Bestbuy Maldives (BBM) as the Title Partner of Hotelier Maldives Awards 2026 under a multi-year agreement, reaffirming one of the longest-standing partnerships behind the publication’s flagship hospitality recognition platform.

The 2026 edition marks the third consecutive year that BBM has served as Title Partner of Hotelier Maldives Awards, having supported the event in the same capacity since its launch in 2024. BBM has also backed Hotelier Maldives’ second flagship event, GM Forum, every year since 2023, with 2026 set to mark its fourth year as a Silver Partner of the forum.

The continued partnership reflects a shared commitment to recognising the people behind the Maldives’ tourism industry while supporting platforms that encourage industry dialogue, leadership and professional development.

Hotelier Maldives Awards 2026 entered its public voting phase on 15 March 2026, with voting set to remain open for one month. Winners will be announced at the gala ceremony on 26 April 2026 at NIVA Kurumba Maldives.

Commenting on the partnership, Ali Naafiz, Editor of Hotelier Maldives, said: “BBM has been a valued partner of Hotelier Maldives Awards since the very beginning, and we are pleased to formalise this continued support through a multi-year agreement. Their decision to return as Title Partner for a third consecutive year reflects not only the strength of our relationship, but also a shared belief in the importance of recognising the people who drive excellence across the Maldives’ hospitality industry.

“BBM has also consistently supported GM Forum over the years, making them one of the most committed partners across our event platforms. We are proud to continue working together as we strengthen both Hotelier Maldives Awards and GM Forum as annual fixtures for the industry.”

AVS Subrahmanyam, Chief Operating Officer of BBM, said: “At BBM, we have always believed that a strong hospitality industry is built by strong people, and Hotelier Maldives Awards provides an important national platform to recognise the professionals whose work often takes place behind the scenes. We are pleased to continue as Title Partner of the awards under this multi-year agreement, while also extending our support to GM Forum for a fourth consecutive year.

“As a company that has grown alongside the Maldives’ hospitality sector, we value opportunities that celebrate talent, encourage professional pride and contribute to the long-term development of the industry. Our continued partnership with Hotelier Maldives reflects that commitment.”

Bestbuy Maldives is one of the country’s leading importers and distributors, serving the hospitality, HORECA and retail sectors with a broad portfolio of international brands. The company positions itself as a partner to the Maldivian hospitality industry, supplying products from around the world across key business verticals including resorts, foodservice and retail.

Hotelier Maldives Awards continues to recognise the contributions of resort-based hospitality professionals across the Maldives, highlighting both individual excellence and team performance. The awards programme remains the country’s only dedicated recognition platform focused on professionals working in resort operations. The current public voting round allows industry stakeholders, colleagues, guests and the wider public to take part in selecting this year’s winners.

The growing list of confirmed partners for Hotelier Maldives Awards 2026 includes Bestbuy Maldives (BBM) as Title Partner, Dhiraagu as Platinum Partner, Storm Events as Organising Partner, NIVA, Kurumba Maldives as Host Partner, Souvenir Marine as Transport Partner, ALIA as Associate Sponsor, and Lightsout Studios as Associate Partner. More partners and sponsors will be announced soon.

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Feydhoo Hall opens at dusitD2 Feydhoo Maldives as new event space

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Dusit International, one of Thailand’s leading hotel and property development companies, has announced the opening of Feydhoo Hall, a landmark event venue at dusitD2 Feydhoo Maldives, redefining the possibilities for meetings, celebrations, and destination events in the Maldives.

Designed to bring scale, flexibility, and creativity to island gatherings, Feydhoo Hall represents a bold step forward in positioning the Maldives as a dynamic destination for conferences, weddings, and large-scale social occasions.

Feydhoo Hall offers a versatile event complex designed to accommodate a wide range of gatherings, from corporate meetings and conferences to weddings and social celebrations.

At its core is the 390 sqm Main Hall, capable of hosting:

  • Up to 300 guests in theatre-style setup
  • Up to 240 guests for dining and banquet-style events
  • Up to 200 guests for cocktail-style receptions
  • Up to 144 guests in cluster-round configuration

Enhancing the flexibility of the venue are additional dedicated spaces, including:

  • A 110 sqm Veranda Terrace, ideal for welcome receptions, breakout sessions, and pre-event gatherings, accommodating up to 100 guests for cocktail-style events.
  • A spacious 1,000 sqm Lawn Space, perfect for large-scale outdoor celebrations, destination weddings, and open-air events, accommodating up to 400 guests for cocktail receptions and up to 350 guests for dining setups.
  • The 55 sqm Ekugai Meeting Room, designed for smaller meetings and executive sessions, accommodating up to 30 guests in theatre or dining setup and 24 guests in cluster-round format.

Together, these integrated spaces create a seamless indoor-outdoor event experience, allowing planners to design dynamic and personalised event journeys.

True to the dusitD2 brand’s lifestyle-driven philosophy, Feydhoo Hall introduces a fresh approach to meetings and events — where productivity meets creativity in an inspiring island setting.

The venue offers flexible meeting formats designed to suit different event needs, including:

  • Half-Day Meeting Package (4 hours) — ideal for focused sessions, executive meetings, and creative workshops.
  • Full-Day Meeting Package (8 hours) — designed for immersive conferences, extended workshops, and large-scale corporate gatherings.

These thoughtfully structured packages provide planners with the flexibility to create impactful and seamless experiences, whether hosting intimate strategy sessions or dynamic full-day events.

Located just seven minutes by speedboat from Velana International Airport, dusitD2 Feydhoo Maldives combines accessibility with vibrant lifestyle energy, offering event planners and guests a rare balance between convenience and tropical escape.

With the introduction of Feydhoo Hall, the resort strengthens its position as a versatile destination — not only for leisure travellers but also for international conferences, creative retreats, luxury weddings, and large-scale social celebrations seeking something refreshingly different in the Maldives.

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BBM expands retail presence with new Hulhumalé outlet

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Bestbuy Maldives (BBM) opened a new wholesale store in Hulhumalé Phase 2 on Monday.

The outlet is located on the ground floor of Lot 20286, Nirolhu Magu, and is intended to improve access to BBM’s imported goods for residents of Hulhumalé Phase 2 and for businesses operating in the area.

According to the company, the opening forms part of its plan to expand services closer to customers in line with population growth in Hulhumalé.

With the opening of the new store, BBM’s full range of imported and distributed products will be available at the Hulhumalé Phase 2 location. These include consumer goods from international brands such as Lifebuoy, Vaseline and Unilever.

The store will also stock wholesale food products from brands including Daily, Cavin’s and Redman.

BBM has supplied goods to resorts, hotels and retail outlets across the Maldives for several years.

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