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Boeing hires more than 100 workers per week in its factories to replace retirees and increase production
A union leader revealed that Boeing was hiring between 100 and 140 factory workers per week, which is the fastest pace since 2024. This is to replace retirees, and to increase staffing in order to support?higher production levels and new models. Jon Holden, a Vice President specializing on training and apprenticeships for the International Association of Machinists and Aerospace Workers' (IAM), said in his first interview that Boeing's Pacific Northwest unionized factory workers now number over 34,000 and "are heading higher". Boeing's spokesperson stated in an email that they are seeing a lot of interest in hiring in Puget Sound as well as across the company to support their production rate increases. In 2024, the IAM represented 33,000 Boeing employees in the area when Holden led that local union in a seven week strike over a contract. Boeing must staff a fourth production line in the Seattle area, called the North Line. This is for the planemaker's 737 MAX narrowbody aircraft, which has been a big seller. The company also needs to replace retiring employees and support the production of the 777X, which is still waiting for certification. Holden, the union's new vice president for training and apprenticeships, said: "So it isn't just those working on the North Line." It will be those who have to provide parts, logistics, and storage. It will be transportation, tooling and logistics. According to Washington State's Employment Security Department, aerospace manufacturing jobs in the state dropped to 79,000 in August last year, but steadily increased to 81.800 by February. Aerospace firms are expanding to meet the demand for fuel-efficient aircraft, the space boom, and the rising defense budgets due to the geopolitical tensions and wars in the Middle East and Ukraine. Karen Arlak is the chief human resources officer of Honeywell Aerospace. She said that the U.S. provider expects to hire more than 1,200 people this year, in areas like engineering and manufacturing, due to the growth in the commercial aftermarket and defense sectors. Since the COVID-19 pandemic was over, and operations accelerated again, the aerospace industry has struggled to find skilled workers. Aviation Technician Education Council Executive Director Crystal Maguire said only about 75% of Federal Aviation Administration-licensed mechanics come out of specialized schools, driving demand for apprenticeship ?programs and workers shifting from other sectors. Holden stated that a Boeing apprenticeship program, which trains for specialized skills such as composite?repairs, is expanding beyond the 125 apprentices who were agreed upon in the 2024 contract with the company. Boeing's current need for factory workers is still behind the aggressive?hiring that took place in 2023-2024 when the company?needed to hire workers after the pandemic, and the 737 MAX was grounded following two fatal crashes. Holden stated, "This is a more sustained ramp, which I am happy about as long the economy continues to grow, and as long airlines continue to place their orders." (Reporting from Allison Lampert and Dan Catchpole, both in Montreal; editing by Jamie Freed).
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Brazil's Lula criticises Trump's threats and says leaders should seek to respect
Brazil's Luiz Inacio Lula Da Silva delivered a?blatant critique of the?U.S. In an interview published by El Pais on Thursday, President Donald Trump said that world leaders should not rule with fear but rather respect. Lula said that Trump had no right to threaten a nation in the morning, referring specifically to his threat to 'wipe out the Iranian civilisation' as part of the U.S. and Israeli war against Iran. "He was not elected for that, and his Constitution does not allow it." Lula, who will meet with another leftist Trump critic, Spanish Prime Minister Pedro Sanchez on Friday, in Barcelona, called Trump's foreign policy "a misguided game", driven by the assumption that Washington has the military and economic power to set the rules. Lula continued, "Nobody has the right to scare others." It's important that the powerful assume greater responsibility in maintaining peace. The Brazilian President described himself as an individual who prefers respect over fear. After a surprise raid on Venezuelan President Nicolas Maduro by U.S. Special Forces in Caracas on January 3, he called for free and fair elections without any interference from Washington. "What can't happen is that the U.S. thinks it can run Venezuela. Lula said that this is not normal and has no place in a democratic country. Lula and Trump have had many clashes over the past decade. Trump was a close ally and supporter of his main opponent in the last elections, former far-right president Jair Bolsonaro. Bolsonaro is currently serving a sentence of 27 years for plotting to stay in power. Lula, who is 80 years old, alluded also to the advanced age of both he and Trump when he remembered how he called for'restraint' when Trump, aged 79, imposed heavy?tariffs against Brazil and sanctioned the judges handling Bolsonaro's case. Later, the sanctions were removed and tariffs reversed. Lula stated that "two countries led by two gentlemen who are in their 80s should speak with maturity." (Reporting and editing by David Latona, William Maclean, Andrei Khalip)
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Vote on Inpex Employment Deal by Australian LNG Workers
The workers at Inpex’s Ichthys plant, which is one of Australia’s largest, are voting on Friday for a new agreement that, if rejected, could result in a strike. Workers at the 9.3 million ton LNG plant voted for the closure of the plant, which is associated with its facilities. The Iran war has caused significant LNG volumes to be removed from the market. Another plant in Australia - the world's number one LNG exporter - also closed. The world's No. 2 LNG exporter is operating below capacity because of cyclone damage. Offshore Alliance members, a group of unions, expressed their displeasure at the company's proposal, stating that the pay conditions "do not match the consumer price index" and fall below industry standards. In a recent statement, Chris Donovan, AWU Assistant Secretary and Offshore Alliance spokesman, said that INPEX had failed to meet even the 'basic claims' of its workers. A union representative said that the Ichthys staff of 430 people is about 95% unionised. Inpex claims that its offer is fair, competitive and reasonable. Inpex's spokesperson stated that the new system "maintains alignment between our employment conditions and external market conditions, and exceeds or meets peer conditions in many areas." Separately union members will finish voting next week on whether or not to take protected industrial actions, with the ballots closing on April 24, 2019. The Fair 'Work Commission, the body that oversees workplace disputes and arbitrates disputes, has approved of?the potential action. A strike at Chevron’s Wheatstone plant in Australia in 2023 tightened the global LNG supply. Since the beginning of the Iran War on February 28, more than 20% of?the?world's LNG has been?constrained.
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Australia's trucking sector looks to electric alternatives as it faces fuel shortage
As the Middle East Crisis disrupts fuel supplies and drives up prices, interest in electric trucks is increasing in Australia. Since the Iran War began, electric truck companies have reported an increase in inquiries and investments from customers. Ben Hutt is the CEO of Janus Electric. The company manufactures vehicle battery packs. Its shares have increased by as much as 58% in value since the U.S. and Israeli war against Iran began late February. He said: "We have seen an enormous increase in interest from government around the globe, customers all over the world and customers in Australia." The 'geography of Australia and its low population density make it one the most dependent countries on road freight in the world. It relies on diesel trucks to transport raw materials, goods and food across huge distances. Hermione parsons, CEO of Australia Logistics Council, apex organisation of Australia's freight industry, stated that despite recent interest in electric vehicles, the country still has a "diesel-dominated system". Around?800,000.00 diesel trucks are on the roads compared to just 1,000 electric ones. High upfront costs, limited infrastructure for charging and concerns about the technology's range and load capacity have long stymied the?electrification? of the sector. Diesel prices above A$3 per litre ($2.14) are affecting operators' bottom line, according to industry sources. Hutt said, "The technology is working, there is range, there is power and torque, and they are much more economical to operate." He said that more drivers are also accepting electric trucks. Janus Electric converts existing heavy trucks into interchangeable battery packs. The conversion costs around A$150,000 ($107.550). Hutt stated that converted vehicles towing a single trailer could travel up to 400 km (250 mi) before they need to change batteries at dedicated stations. The process takes less than four minutes. Daniel Bleakley said that his electric trucking firm, New Energy Transport had received "a wave" of inquiries in recent months. He said that "we've seen an increase in interest from both major transport buyers and investors" in Australia. Last month, New Energy Transport announced that it had completed Australia's very first end-to-end electric heavy road freight transport, traveling 460 km between Sydney and Canberra. The vehicles were able to travel up to 670 km (415 miles) with 49 tons of freight on a single battery charge in overseas trials. John Rose, professor at University of Sydney's Institute of Transport and Logistics Studies said that electric trucks are increasingly being used for city routes and last-mile logistical needs. It would be "many years" before electric trucks were used for long-haul transportation. "We are seeing?electrification? in some parts of the industry and not in others. This is a very widespread benefit if we make it happen. This war will definitely push it forward. Parsons, ALC, said that the electric truck market is still in its infancy. $1 = 1.3947 Australian Dollars (Reporting and writing by Cordelia Hsu, Sydney)
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Nigerian Airlines threaten to stop flights due to rising jet fuel prices
Nigerian airlines will cease all flights on April 20 unless the crippling jet fuel price, which they accuse the country's "fuel marketers" of artificially increasing, is reduced. Airline Operators of Nigeria (an industry group consisting of around 12 mainly domestic carriers) complained to the Major Energies Marketers Association of Nigeria in a letter dated April 14 that jet fuel had increased by approximately 270% since February. The price of oil and fuel has risen since the start of the Iran War, because the conflict is preventing shipping through the Strait of Hormuz. In a letter to AON, the company called the increase in jet fuel prices in Africa's largest nation "astronomical" and "artificial," and said that it was far higher than global crude oil price. It said that "currently, airline revenues alone are not sufficient to cover the cost for fuel." MEMAN did not respond immediately to a comment request. The global aviation industry has been thrown into chaos by the soaring prices of jet fuel. Airlines have had to increase fares, reduce growth plans, and rethink their forecasts. AON stated that increasing ticket prices in Nigeria to reflect fuel costs could result in a drop in passenger numbers. A shutdown of airline operations would also have wider repercussions on banks, jobs, and insecurity. According to the African Airlines Association, jet fuel accounts for 30 to 40% of African airlines’?operating expenses, compared to a global average between 20 and 25%. This makes them especially vulnerable to price increases. The Nigerian aviation sector used about 2.1 million litres per day of jet fuel last month, according to data provided by the country's petroleum product regulator. The data shows that the Dangote Petroleum Refinery, Nigeria's only domestic jet fuel producer, did not make any deliveries to the domestic market in March. Data from the tanker-tracking firm Kpler revealed that Nigerian exports of clean products such as gasoline, diesel, jet fuel and kerosene more than doubled month-on-month during March. Dangote didn't immediately respond to our request for comment. (Reporting and editing by Joe Bavier; Isaac Anyaogu)
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El Al, Israel's national airline, to expand Boeing deal by buying six additional 787s
El 'Al Israel Airlines announced on Thursday that it would exercise its option to 'buy six additional 787-9 Dreamliner planes from Boeing. The airline cited a long-term strategy for increasing capacity and improving profitability. Israel's flag airline?also announced that it would expand?its agreement with Boeing, including an?option to buy up to six additional 787 aircraft. El Al currently has 17 787 aircraft in its fleet. The company expects to have 28 aircraft by the end of the decade, and up to 34 in the future. El Al signed an $1.25 billion contract with Boeing in 2016 for a 'first order' of 15 787 aircraft, with a?option for another 13.
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Investors look at possible Iran War Deal as they mix up the Gulf bourses
Investors weighed the growing optimism about a possible agreement to end the 'Iran war', backed by increasing U.S. sanctions on Tehran ahead of future talks. U.S. president Donald 'Trump' said that the war he launched with Israel in late February is nearly over. This was despite the fact that the shipping blockade announced by him had come into effect, and the traffic through the Strait of Hormuz was still far below normal. Washington warned that it may impose secondary sanctions against buyers of Iranian crude oil in advance of future negotiations, only weeks after easing some Iran energy sanctions. After negotiations on Sunday failed to produce a breakthrough, U.S. officials and Iranian officials are considering returning to Pakistan this weekend for more talks. Pakistan's Army Chief arrived in Tehran on Wednesday to help prevent a resurgence of the conflict. Dubai's main stock index rose 1.4%. This was largely due to a 2.1% gain in Emaar Properties, the blue-chip developer. Budget airline Air 'Arabia reversed its early losses and traded 1.2% higher. The index in Abu Dhabi increased by 0.3%. Saudi Arabia's benchmark stock index dropped 0.2%. Saudi National Bank, the country's largest lender in terms of assets, lost 2.1% and oil giant Saudi Aramco fell by 0.3%. Brent crude futures were barely changed at $94.67 a barrel on scepticism about the U.S. - Iran peace talks?ending the disruption of the traffic through the Strait of Hormuz. Separately the $925 billion sovereign fund of the Kingdom will channel its investment into the 'domestic' economy by focusing on six priorities in a five-year plan. It is stepping up efforts to reduce the dependence of the kingdom on oil. The Qatari Index eased by 0.1% during a turbulent session. Industries Qatar, a petrochemical manufacturer, fell 0.7%. Qatar, the world's second largest LNG exporter, may extend the force majeure period on gas supply beyond mid-June. Edison stated that the Italian importer expects the lost volumes to be replaced by U.S. LNG instead of Russian?gas. QatarEnergy canceled 10 cargoes from Edison between mid-April and mid-June due to the disruption of supplies. The CEO of QatarEnergy said that Iran's attack on last month knocked down 17% the LNG export capacity of QatarEnergy. (Reporting and editing by Joe Bavier in Bengaluru, Ateeq Sharif in Bengaluru)
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EasyJet announces a larger first-half loss due to fuel prices and legal costs.
EasyJet, a British budget airline, warned on Thursday that it had suffered a larger 'headline pretax loss for the first six months of the year than a year ago. This was due to the soaring fuel prices caused by the Middle East conflict and increased 'legal provisions. The airline is expecting a headline loss before tax of 540-570 million pounds ($733.3-$760.5) in the first half. This is higher than?the loss of 394 million pounds reported a year ago. The U.S. and Israeli war on Iran sent jet fuel prices soaring by as much as 200 dollars a barrel over the past few weeks. This has upended the global aviation industry, forcing airlines to 'raise fares', halt growth plans, and rethink their forecasts. Easyjet said it had incurred additional fuel costs of 25 million pounds due to the war in March, as well as 30 million pounds from higher legal provisions.
Wall Street Journal April 16,
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Viva Energy in Geelong has suffered a major fire that engulfed a large part of its oil refinery. This is raising concerns about the availability of oil in Australia, at a time when the Middle East conflict is causing a shortage. Spirit Airlines has begun discussions with its creditors who are looking at options, including the possibility of liquidating the airline. A New York jury ruled on Wednesday that Ticketmaster, its parent company Live Nation, and the airline itself illegally monopolized U.S. markets for live events.
The Wall Street Journal reported that 'Senior U.S. Defense Officials have held discussions about producing weapons and military'supplies' with executives from companies such as?General Motors?and Ford Motor.
Esco Technologies has agreed to buy?TBG Megger Group in a deal worth $2.35 billion.
Doug 'Field, an Apple and Tesla veteran who has led Ford Motors' electric vehicle and technology efforts for almost five years, will be leaving the automaker.
(source: Reuters)