Travel

Boeing Pays Alaska Airlines $160M for Max Grounding

Published

1 month ago

April 4, 2024

dairoldi@thebtngroup.com (Donna M. Airoldi)

Boeing has paid Alaska Airlines approximately $160 million in cash during the first quarter to cover losses due to the grounding of the Boeing 737 Max 9 aircraft, the carrier noted Thursday in a U.S. Securities and Exchange Commission filing.

The U.S. Federal Aviation Administration grounded the Max 9 following a Jan. 5 door-plug blowout shortly after Alaska Airlines flight 1282 departed Portland, Ore.

Alaska said its “operation and results were significantly impacted” by the incident. The $160 million covers a loss in pre-tax profit, “primarily comprising lost revenues, costs due to irregular operations and costs to restore our fleet to operating service,” according to the filing. Alaska said it expects additional compensation to be provided beyond the first quarter, the terms of which it said are confidential.

The carrier added that without these factors, first-quarter adjusted pre-tax profit would have improved about 80 percent year over year, “versus our pre-grounding expectations of a 30 percent improvement.” Alaska said that the improvement to its core business performance has been driven by “strategic network adjustments, strong demand within the quarter and continued recovery of West Coast business travel.”

Despite some “book away” following the January incident and aircraft grounding, “February and March both finished above our original pre-grounding expectations due to these core improvements,” according to Alaska.

The carrier added that while it initially planned to have the Boeing payment accounted into its earnings, the carrier instead is recording it as a reduction to aircraft assets. As a result, the airline now expects an adjusted pre-tax loss of $180 million to $195 million, factoring in the $160 million grounding affect, compared with a pre-tax loss estimate of $20 million to $35 million.

The events also affected Alaska’s capacity outlook. Excluding the grounding impact, capacity was expected to increase about 3 percent year over year. The events had a negative 5.5 percent affect, and the carrier now expects first-quarter capacity to fall about 2.5 percent compared with Q1 2023.

On March 25, Boeing announced that CEO David Calhoun would step down at the end of the year, with Boeing Commercial Airplanes president and CEO Stan Deal retiring immediately. Boeing chair Larry Kellner also declined to run for reelection at the company’s annual shareholder meeting.

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BestPrice travel to promote the image of Vietnam at New York’s times square

Published

2 days ago

May 17, 2024

Apollonas Kritikos

This is a self-run activity of BP Group – the holding company of BestPrice Travel, intending to support underprivileged individuals in Vietnam.

On April 9th 2024, BestPrice Travel promoted its “Taste Vietnam” campaign in New York Times Square, proudly presenting the image of Vietnam to the whole world.

Though it was not the first time Vietnam appeared on a billboard at New York’s Times Square, this one came differently. In just 15 seconds, the country was presented with a combination of all landscapes, cultures, and cuisines in one message “Taste with BestPrice Travel”.

Burning desire to bring Vietnam tourism worldwide
Promoting the image of Vietnam at New York Times Square is the initial move in BestPrice Travel’s internalization strategy – the travel company’s genuine desire to make Vietnam’s beauty known to the world.

As an online travel agency, BestPrice Travel provides cruises, tours, and other services for foreign tourists visiting Vietnam and Southeast Asia.

With advanced technology and professional staff, the company has managed to provide services for thousands of inbound tourists every year, receiving numerous certificates and awards, namely 8 years of Travelers’ Choice on TripAdvisor ‘til 2023, nomination for the World Travel Awards 2024 as Vietnam’s Leading Tour Operator & Vietnam’s Leading Travel Agency, and the Prospect Travel Agent Award at the Vietnam International Travel Market 2024.

After 14 years of continuous growth, BestPrice Travel decided to renew the image of the company as well as Vietnam tourism, getting closer to its customers, who live thousands of miles away. Whereby, in February 2024, the “Taste Vietnam” campaign kicked off, targeting European, US, and Canadian markets.

“Taste Vietnam” – The combination of Vietnamese values
Beyond a promotion campaign, “Taste Vietnam” is a chance for BestPrice Travel to provide its customers with genuine values of Vietnam, bridging the distance gap and forging the bond between foreign tourists and the country.

Through “Taste Vietnam” tour packages, visitors are entitled to multisensory experiences, from admiring the magnificent landscapes to tasting the excellent cuisine and joining the off-the-beaten-track traditional activities.

In addition, it is not only experiential but also sentimental values that “Taste Vietnam” could bring to its customers. With every booking successfully purchased, US $1 will be used for charitable purposes. This is a self-run activity of BP Group – the holding company of BestPrice Travel, intending to support underprivileged individuals in Vietnam.

At the moment, BPG Foundation, the fund community under BP Group, is associating with Blue Dragon Children’s Foundation, which rescues, protects, and supports homeless children as well as victims of trafficking in Vietnam. Accordingly, with US $1 from your pay, you would indirectly give a hand to better the life of thousands of Vietnamese kids and people in need.

Save the children’s lives through “Taste Vietnam” campaign
The potential of Vietnamese tourism has never been greater. As a leading company in the industry, BestPrice Travel is relentlessly taking the chance to spread the beauty of Vietnam to the whole world while contributing to the country’s social development. More than ever, your booking matters right now. Let’s book the trip and join the hashtag #TastewithVietnam!

For detailed information about the program, please visit bestpricetravel.com or WhatsApp (+84) 904 699 428.

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