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Plane and simple: Airbus is still out-delivering Boeing

Plane and simple: Airbus is still out-delivering Boeing

2/15/24 7:00PM

Higher plane

Airbus flew further ahead of Boeing last year for commercial aircraft deliveries, reporting 735 plane shipments and receiving a record 2,094 net orders; its closest rival in the air space, on the other hand, delivered just 528 units, with the plane-maker still suffering from a string of incidents involving its flagship Max models — not least the recent mid-air cabin panel blow out in January.

To compound Boeing’s woes, Airbus also forecast 800 deliveries in 2024: almost certainly enough to see it retain the top manufacturer spot for the 6th consecutive year, after the fatal 737 Max crashes of 2018 and 2019 saw the Boeing jets grounded worldwide for 20 months and orders wane.

Turbulence

Even though the European aviation giant is extending its lead over its American counterpart, the skies haven’t been completely clear for Airbus either. Indeed, CEO Guillaume Faury described the company’s supply chain as a “world of bottlenecks”, suggesting that Airbus might struggle making headway on its mounting backlog of ~8,600 commercial aircraft orders for some time.

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Elon Musk at Donald Trump Rally At Madison Square Garden In NYC

The Tesla directors who just proposed giving Elon Musk a trillion dollars say it’s “critical” he stay out of politics

Even still, the company doesn’t appear to be putting up hard guardrails for Musk’s political ambitions.

$1T

Tesla jumped more than 2% premarket on Friday after the company proposed an unprecedented roughly $1 trillion pay package for CEO Elon Musk, according to proxy filings.

To receive the massive payout, Musk will have to increase the company’s market cap to $8.5 trillion from the approximately $1 trillion it is today over the next 10 years.

The pay package also requires that Musk expand Tesla’s product offerings to include 1 million Robotaxis in commercial operation and the “delivery of 1 million AI Bots.” Currently the company has about 30 autonomous robotaxis in its invite-only Austin ride-hailing service, though this week the company expanded the waitlist for the service to everyone. Tesla's Optimus robots are still under development.

Musk would also have to take part in his own succession planning and develop a framework for who’s to follow him.

Investors have historically tied the fate of Tesla with Musk, so holding on to him for an extended period of time and having his blessing for the succession plan is typically seen as good news for the stock.

“We believe that Elon’s singular vision is vital to navigating this critical inflection point,” the filing reads. “Simply put, retaining and incentivizing Elon is fundamental to Tesla achieving these goals and becoming the most valuable company in history.”

A judge twice struck down Musk’s previous $56 billion compensation package. Last month the board approved a $30 billion interim pay package, saying that “retaining Elon is more important than ever.”

Shareholders will vote on the pay package at their annual meeting on November 6.

Old Navy store on 34th street in New York City, U.S.

Gap pops as the denim giant takes a big swing into beauty and accessories

The retailer is piloting beauty through shop-in-shops at Old Navy before rolling it out to Gap stores next year.

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