FRANKFURT (Reuters) – Swedish carmaker Volvo is suspending production at its factories in Sweden, the United States and Belgium, to curb the spread of the coronavirus, it said on Friday, even as it resumes manufacturing in China where the infection rate has slowed.
Volvo’s Swedish factories in Torslanda, Skovde, Olofstrom, and its U.S. plant in South Carolina will close between March 26 and April 14, the company said. Its plant in Ghent, Belgium has already been temporarily shut down.
“Our primary concerns are the health of our employees and the future of our business,” Chief Executive Hakan Samuelsson said. “I think for the economy, we need to do something drastic, rather then trying half-hearted measures that drag on forever.”
“We are seeing the effect from this coronavirus is increasing every day. We see problems in the logistics supply side,” he told Reuters. “We have to help contributing to social distancing.”
Samuelsson said the financial impact of the shutdown would become clearer when the carmaker published first-half earnings. The company will reduce the working hours of white-collar staff during the factory closures and will take advantage of government incentives, Samuelsson said.
The financial impact on Volvo also depended on how different countries reacted to contain the virus.
“There is a big difference between countries. Some have curfews, with restaurants and schools closed. In other countries there are less drastic measures. I just think we need to synchronise that more.”
(Reporting by Edward Taylor; Editing by Pravin Char)
(Reuters) – Former U.N. ambassador Nikki Haley has resigned from Boeing Co’s board after opposing its bid for government financial assistance due to the crisis caused by the coronavirus outbreak.
“I cannot support a move to lean on the federal government for a stimulus or bailout that prioritizes our company over others and relies on taxpayers to guarantee our financial position,” Haley said in a letter to the company’s management released by Boeing on Thursday.
“I have long held strong convictions that this is not the role of government.”
Haley, a former South Carolina governor, has often been mentioned as a future presidential candidate. “The board and executive team are going in a direction I cannot support,” she wrote.
When asked to respond to Haley’s concerns, Boeing said only the company appreciated her service on the board and wished her well.
Boeing this week said it was seeking on behalf of itself and the aviation manufacturing industry at least $60 billion in government loan guarantees and other assistance. The sector faces huge losses from the coronavirus pandemic as airlines halt flights and some delay orders.
A Senate Republican proposal introduced Thursday would allow aviation manufacturing firms like Boeing to seek collateralized loans and loan guarantees from a $150 billion fund but not provide any cash. The final decision on eligibility would be up to the U.S. Treasury.
“We are not bailing out the airlines or other industries – period,” said Senator Richard Shelby, a Republican who chairs the Appropriations Committee.
To ensure the government is compensated for risks in making loans, the U.S. Treasury could seek equity, warrants stock or other instruments to ensure the government participates in any gains.
Haley’s resignation letter was dated Monday, the same day Boeing confirmed it was in talks to seek short-term assistance from the U.S. government.
Boeing has racked up nearly $19 billion in costs tied to its 737 MAX aircraft, which has been grounded for the past year after two fatal crashes in five months. The company has been working to win approval for the plane to return to service.
(Reporting by Ankit Ajmera in Bengaluru and David Shepardson in Washington and Michelle Nichols in New York; Editing by Arun Koyyur and Tom Brown)
Allegiant Travel Company (NASDAQ: ALGT) today announced plans to establish a base of operations at Concord-Padgett Regional Airport (USA). The Las Vegas-based company will invest $50 million to establish the new base in Concord, creating at least 66 high-wage jobs and housing two Airbus aircraft.
The company, which focuses on linking travelers in small-to-medium cities to world-class leisure destinations, plans to begin its base operations in Concord on October 7, 2020. Concord-Padgett Regional Airport will become the airline’s 21st aircraft base.
Located minutes from Charlotte, Concord is one of the nation’s fastest-growing cities, with a robust business infrastructure and a diverse workforce. Home to some of North Carolina’s top tourist destinations, including NASCAR’s famed Charlotte Motor Speedway and Concord Mills, the city boasts a historic downtown district and a wide variety of entertainment and leisure activities for visitors and local residents. Concord is the largest city in Cabarrus County, with a population of more than 94,000.
“Since Allegiant’s first flight from Concord-Padgett Regional Airport in 2013, their growth has been truly remarkable,” said Concord Mayor Bill Dusch. “We are very pleased that Allegiant has selected Concord for a new base of operations, which brings new jobs and travel opportunities for the citizens of Concord and the Charlotte region. We look forward to continue developing our partnership with Allegiant in the future.”
“We’re excited about making Concord a permanent base, and further establishing Allegiant as a hometown airline for this high-performance city,” said Keith Hansen, Allegiant’s vice president of government affairs. “With a growing and diverse population seeking affordable vacation travel, and as a regional destination for race enthusiasts, arts fans and more, Concord is an ideal location for an Allegiant base. Having locally-based operations will mean opportunities for expanded hours, as well as more – and more frequent – flight offerings for residents and visitors alike.”
“This decision reaffirms that what began as a wonderful opportunity for a growing destination has grown into a committed relationship,” said Concord-Padgett Regional Airport Aviation Director Dirk Vanderleest. “My staff and I are humbled by this opportunity and milestone for USA. We look forward to working hand in hand with Allegiant Air to ensure that both residents and visitors alike are recipients of excellent customer service and expanded vacation opportunities.”
“Allegiant took Cabarrus County’s tourism industry to the next level with commercial air service and we’re proud to offer our support as they continue to grow,” said Cabarrus County Convention and Visitors Bureau President & CEO Donna Carpenter. “Visitor spending reached over $469 millionin Cabarrus County in 2018. These enhancements will fuel that figure, generating tax revenues that will positively impact the local economy and quality of life in our community.”
Allegiant began operating at USA in 2013 and currently offers seven non-stop routes: one to the Mardi Gras City of New Orleans and six to premier Florida destinations, including Destin/Fort Walton Beach, Fort Lauderdale, Orlando/Sanford, Palm Beach, Punta Gorda and St. Pete-Clearwater. Since establishing service, Allegiant has flown more than one million passengers through Concord, including 353,000 in 2019 alone.
“Cabarrus County’s investment in Allegiant emphasizes the power of collaboration,” said Cabarrus CountyBoard of Commissioners Chair Steve Morris. “Our support of projects related to the Concord-Padgett Regional Airport boosts the economic stability of all municipalities in our county and throughout the region.”
Both the Concord City Council and Cabarrus County Commissioners approved three-year economic development grants for the expansion. Based on a portion of the increased tax investment, the grant amount from the City of Concord would not exceed $48,649 and $75,001 from Cabarrus County.
“The establishment of this base really reinforces Allegiant’s commitment to our community,” said Cabarrus Economic Development Existing Industry Director Page Castrodale. “It sends a message that Cabarrus County is the right place to do business.”
Allegiant, which employs more than 4,300 team members across the U.S., plans to immediately begin hiring pilots, flight attendants, mechanics and ground personnel to support the operations. The majority of the new positions are expected to offer salaries that are more than double the state’s average wage. Interested applicants may apply online.
FORT WORTH, Texas — American Airlines Group Inc. (NASDAQ: AAL) today reported its fourth-quarter and full-year 2019 financial results, including these highlights:
Fourth-quarter 2019 earnings were $0.95 per diluted share. Excluding net special items1, earnings were $1.15 per diluted share, up 19% year over year.
Full-year 2019 earnings were $3.79 per diluted share. Excluding net special items2, earnings were $4.90 per diluted share, up 8% year over year.
Accrued $213 million for the company’s profit-sharing program in 2019, including $74 million in the fourth quarter.
Returned $1.3 billion to shareholders in the form of dividends and share repurchases in 2019.
“During the fourth quarter, we made important progress to address the issues that impacted our business in 2019, and, thanks to our incredible team, we ended the year with our strongest operational quarter on record,” said American Airlines Chairman and CEO Doug Parker.
“While our results for the quarter reflect this progress, we know there is more work to be done. Looking to 2020, we are focused on three key areas. First, we will continue to deliver operational excellence and build on our strong fourth-quarter results. Our team has done a tremendous job, and we will keep driving improvement in key operational metrics in the year ahead. Second, we will deliver those results while growing where we have a competitive advantage in our most profitable hubs. And third, these initiatives combined with our capital plan will enable us to drive significant free cash flow in 2020 and beyond.”
Fourth-Quarter Revenue and Expenses
Pre-tax earnings were $571 million in the fourth quarter of 2019. Pre-tax earnings excluding net special items for the fourth quarter of 2019 were $679 million, a $90 million increase from the fourth quarter of 2018, or 15.1% year-over-year increase from the same period last year.
Continued strength in passenger demand and a record passenger load factor drove a 3.4% year-over-year increase in fourth-quarter 2019 total revenue to a record $11.3 billion. Driven by a 2.4% increase in passenger load factor, passenger revenue per available seat mile (PRASM) grew 0.9% to 14.72 cents, a record for the fourth quarter. Cargo revenue was down 18.3% to $216 million due primarily to a 15.6% decline in cargo volume. Other revenue was up 5.4% to $750 million due primarily to higher loyalty revenue. Fourth-quarter total revenue per available seat mile (TRASM) increased by 0.5% compared to the fourth quarter of 2018 on a 2.9% increase in total available seat miles.
Total fourth-quarter 2019 operating expenses were $10.6 billion, up 2.1% year over year, driven primarily by higher salaries and benefits, maintenance, and regional expenses. Total fourth-quarter 2019 cost per available seat mile (CASM) was 15.06 cents, down 0.8% from fourth-quarter 2018. Excluding fuel and net special items, consolidated fourth-quarter CASM was 11.59 cents, up 2% year over year.1
2020 Priorities
In 2020, American is focused on operational excellence, efficient and profitable growth, and generating significant free cash flow.
Operational excellence: Running a reliable operation is a significant driver of customers’ likelihood to recommend and American’s goal to become customers’ airline of choice.
Efficient and profitable growth: Grow in high-revenue markets that produce at or above average unit revenues, largely due to new gates in Dallas-Fort Worth and Charlotte, North Carolina.
Generating significant free cash flow3: Use free cash flow to naturally de-lever the company’s balance sheet and return capital to American’s shareholders.
NORTH CHARLESTON, SOUTH CAROLINA, Sept 30, 2019 – Boeing [NYSE:BA] delivered to Saudi Arabian Airlines (SAUDIA) its first 787-10 Dreamliner, which will play a key role in the airline’s fleet and network expansion. The largest member of the Dreamliner family sets the benchmark for fuel efficiency and operating economics and will complement SAUDIA’s fleet of 787-9.
“SAUDIA operates a state-of-the-art fleet equipped with the latest technology, and in addition to the airline’s existing Boeing 787-9 Dreamliners, is now adding the 787-10 variant which will further support future network growth plans,” said His Excellency Eng. Saleh bin Nasser Al-Jasser, Director General, SAUDIA. “The airplane’s onboard cabin features, long range capability and the latest in technological advancements are among the many aspects of what makes the Boeing 787 highly popular with our guests.”
In addition to the 787-10, SAUDIA operates 13 787-9 Dreamliner airplanes, and 33 777-300ER (Extended Range) jets.
“SAUDIA has been a valued partner with Boeing for nearly 75 years and this delivery marks another major milestone in our partnership. Our team takes great pride in building and delivering quality aircraft to SAUDIA and we are honored by the continuing confidence in the 787 Dreamliner and 777 families,” said Ihssane Mounir, senior vice president of Commercial Sales and Marketing, The Boeing Company. “The addition of the 787-10 to SAUDIA’s fleet will continue the superior inflight experience that passengers have come to expect of the Dreamliner. Moreover, the unmatched fuel efficiency of the 787 will help SAUDIA open new routes and achieve significant fuel savings and emission reduction.”
With the delivery to SAUDIA, the 787-10 continues to expand its global presence. More than 30 of this Dreamliner model have been delivered to seven operators since the airplane entered commercial service last year. As a stretch of the 787-9, the 787-10 adds about 40 more seats in a 2-class configuration and cargo capacity, offering 25 percent better fuel per seat and fewer emissions than the airplanes it replaces. With a range 6,345 nautical miles (11,750 kms), the 787-10 can fly more than 95 percent of the world’s twin-aisle routes.
Since entering service in 2011, the 787 family has enabled the opening of more than 235 new point-to-point routes and saved more than 40 billion pounds of fuel. Designed with the passenger in mind, the 787 family delivers an unparalleled experience with the largest windows of any commercial jet, large overhead bins with room for everyone’s bag, comfortable cabin air that is cleaner and more humid, and includes soothing LED lighting.
To optimize the performance of its 787 fleet, SAUDIA uses Boeing Global Services digital solutions powered by Boeing AnalytX such as Airplane Health Management (AHM), Maintenance Performance Toolbox and Crew Rostering and Pairing to optimize performance, manage global crew schedules and maintain their fleet. Boeing AnalytX is a suite of software and consulting services that transform raw data into efficiency, resource and cost savings in every phase of flight.
Boeing [NYSE:BA] delivered to Saudi Arabian Airlines (SAUDIA) its first 787-10 Dreamliner, which will play a key role in the airline’s fleet and network expansion.
FILE PHOTO: A logo of low cost carrier Spirit Airlines is pictured on an Airbus plane in Colomiers near Toulouse
(Reuters) – Spirit Airlines <SAVE> on Friday cut its third-quarter outlook for a key revenue measure as it estimates an about $25 million hit on its sales, hurt by hundreds of flights cancellations due to Hurricane Dorian.
The company now expects third quarter unit revenue to fall between 2.5% and 3.5% compared to its prior estimate of a decline of 1% to 2%.
The hurricane has led airline operators including American Airlines <AAL.O> and Delta Air Lines <DAL.N> to cancel thousands of flights across the United States this week.
Dorian, which briefly made a landfall on the Outer Banks of North Carolina on Friday, is expected to bring tropical storm winds to Nantucket Island and Martha’s Vineyard, Massachusetts early on Saturday
LEHIGH VALLEY, Pa., Aug. 20, 2019 /PRNewswire/ — State and local officials joined executives from Allegiant Travel Company (NASDAQ: ALGT) today as the company announced plans to establish a two-aircraft base at Lehigh Valley International Airport (ABE) in Lehigh County, Pennsylvania. Allegiant’s growth plans in the state include creating at least 66 new, high-wage jobs.
The Las Vegas-based company is investing $50 million to establish its new base of operations, which will house two Airbus aircraft. The company, which focuses on linking travelers in small-to-medium cities to world-class leisure destinations, plans to begin its base operations at Lehigh Valley International Airport on February 12, 2020. Lehigh Valley will become the airline’s 18thaircraft base.
The Lehigh Valley is a two-county region in eastern Pennsylvania consisting of 62 municipalities and three cities; Allentown, Bethlehem, and Easton. Located one hour north of Philadelphia and 90 minutes west of New York City, the Lehigh Valley is the 69th largest metropolitan region in the United States, with a $40.1 billion GDP that is larger than that of two entire states, Wyoming and Vermont. With more than 15,000 businesses contributing to an incredibly diverse industry base, Lehigh Valley is the fastest growing and third most populous region in the state of Pennsylvania, with a population of more than 670,000 residents. Site Selection named the Lehigh Valley one of the top five fastest-growing regions with under a million people in the United States in 2018, and the fastest-growing region of its size in the Northeast U.S. for a third consecutive year.
Speaking at today’s announcement were Hilarie Grey, managing director of corporate communications for Allegiant Travel Company, Tom Stoudt, executive director at LVIA, Don Cunningham, president & CEO of the Lehigh Valley Economic Development Corporation and Pennsylvania Senate Majority Appropriations Chairman Pat Browne (R-Lehigh). Senator Browne secured a state grant to help offset capital costs of the expansion at LVIA and make the Lehigh Valley airport a more attractive option for Allegiant’s growth.
“Lehigh Valley International Airport continues to be a vital asset for the Lehigh Valley and a significant driving force for our growing economy. Today’s announcement ushers in a new era of leisure and commercial travel possibilities for the airport and our region,” Senator Browne said. “I applaud Allegiant for recognizing the importance LVIA plays in air travel and for choosing to expand their presence at the airport. I commend their commitment to creating additional high-paying jobs, capital investment and potential expansion of routes along with their continued dedication to being involved partners with the community. I was pleased to work with Allegiant on this endeavor to enhance our airport and provide state financial support to ensure the Lehigh Valley was able to secure this important opportunity.”
“Lehigh Valley is a perfect location for a permanent base, which will further establish Allegiant as a hometown airline in eastern Pennsylvania,” said Keith Hansen, vice president of government affairs for Allegiant. “It has been a great area for Allegiant, where passenger demand has grown steadily over the years. As a base airport, having locally-based aircraft and crews will give us a host of options for both new service and expanded operational hours. This will mean more opportunities for affordable, convenient travel for local residents and visitors to the area.”
“Excitement is sky high throughout the Lehigh Valley with the news of an Allegiant Crew Base landing at ABE,” said Thomas R. Stoudt, Executive Director, Lehigh-Northampton Airport Authority. “Since day one, Allegiant has demonstrated a strong commitment by providing air travelers affordable options and also have supported impactful regional initiatives. Now, they’ve created employment opportunities for this region which makes your neighborhood airport a more critical economic asset.”
Allegiant began operating at ABE in 2005 and currently offers seven non-stop routes – to Fort Lauderdale, Orlando/Sanford, St. Pete-Clearwater and Punta Gorda, Florida; Myrtle Beach, South Carolina; Nashville, Tennessee and Savannah, Georgia. Allegiant currently carries more than 280,000 annual passengers through Lehigh Valley.
Allegiant, which employs more than 4,300 team members across the U.S., plans to immediately begin hiring pilots, flight attendants, mechanics and ground personnel to support the operations. The majority of the new positions are expected to offer salaries that are more than double the state’s average wage. Interested applicants may apply online.
“The convenience and success of the Lehigh Valley Airport is a critical factor in both the economic and population growth of the Lehigh Valley,” said Don Cunningham, president and CEO of the Lehigh Valley Economic Development Corp. “Allegiant Air selecting the Lehigh Valley to expand its operation and to add a large group of maintenance and flight crew employees is another indicator of the Lehigh Valley’s economic growth and the increased activity at the Lehigh Valley Airport.”
NORTH CHARLESTON, S.C., Aug. 15, 2019 /PRNewswire/ — Boeing [NYSE: BA] delivered the first of eight 787-10 Dreamliner airplanes to Vietnam Airlines today via lease from Air Lease Corporation [NYSE: AL]. The Vietnamese flag carrier plans to put the 787-10 – the most fuel-efficient twin-aisle airplane in the industry – on the busiest routes in its expanding network.
“Welcoming the largest member of the 787 family to our growing fleet ensures we continue to boast one of the youngest and most modern fleets in Asia and also adds a competitive edge to Vietnam Airlines’ operations. We appreciate the unbeatable efficiency performance with reduced fuel burn and outstanding passenger comfort and amenities,” said Pham Ngoc Minh, Chairman of the Board of Directors of Vietnam Airlines. “On our journey to become a 5-star airline, we are confident that the Boeing 787-10 fleet will further elevate the customer experience on the Hanoi to Ho Chi Minh route as well as many international routes.”
The new 787-10 will complement Vietnam Airlines’ existing fleet of 787-9 jets. Both feature the Dreamliner’s ultra-efficient technology and passenger-pleasing comforts. The 787-10 is longer than the 787-9, providing the space to carry 40 more passengers and more cargo and helping it offer the lowest operating costs per seat of any twin-aisle jet in service today. Vietnam Airlines is outfitting its 787-10 models with 367 seats (24 in business class and 343 in economy class). In addition to its size and fuel efficiency, the 787-10 can cover long distances. With a published range of 6,430 nautical miles (11,910 km), the 787-10 can fly more than 95 percent of the world’s twin-aisle routes.
“ALC is extremely pleased to announce this important first 787-10 delivery to Vietnam Airlines with Boeing and be the first lessor to introduce the airline to the -10,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “This first of eight 787-10s from ALC will significantly contribute to Vietnam Airlines’ ongoing major widebody fleet upgrade with the latest technology. ALC values our long-time role as an advisor when planning the growth and replacement of Vietnam Airlines’ fleet to maintain the airline’s leading position in Southeast Asia and worldwide.”
With the delivery to Vietnam Airlines, the 787-10 continues to expand its global presence. More than 30 of this Dreamliner model have been delivered to six operators since the airplane entered commercial service last year. Airlines are deploying the 787-10 around the world, especially in Asia as it is home to more than half of all 787-10 destinations.
“Vietnam Airlines has achieved impressive growth in recent years and helped power the rapid rise of commercial aviation in Southeast Asia. We see even greater potential ahead and the 787-10 brings the perfect combination of size and efficiency for Vietnam Airlines to serve high-demand routes, while the longer-range 787-9 delivers the flexibility to connect the world’s major cities with popular destinations in Vietnam and surrounding countries,” said Ihssane Mounir, senior vice president of Commercial Sales and Marketing of The Boeing Company. “We are excited to partner once again with ALC to bring a state-of-the-art airplane to a valued customer. We are confident the 787-10 will help Vietnam Airlines continue to grow its regional and international network and improve its award-winning service.”
To optimize the performance of its 787 fleet, Vietnam Airlines uses Boeing Global Services solutions such as Airplane Health Management (AHM) to capture real-time flight data and enable predictive maintenance. AHM is powered by Boeing AnalytX, a collection of software and consulting services that transform raw data into greater efficiency during every phase of flight.
North Carolina boatbuilder will exclusively offer Garmin electronics as standard fit on all offshore sportfishing center consoles in 2020
Garmin International, Inc., a unit of Garmin Ltd. (NASDAQ:GRMN), today announced that Regulator Marine has selected Garmin to be its premier electronics supplier to outfit its full line of offshore sportfishing center console boats beginning model year 2020. Garmin electronics will be standard equipment on all Regulator boats ranging from 23 to 41 feet, including the new Regulator 26XO center console crossover, the company announced at its annual dealer meeting, July 23-25.
“It’s truly an honor to know that every new Regulator boat leaving the factory will include Garmin electronics,” said Dan Bartel, Garmin vice president of global consumer sales. “Garmin and Regulator share a passion for designing and engineering products without compromise, and we’re confident that having our award-winning electronics onboard will meet and exceed the needs of the Regulator customer.”
“We are honored to offer our customers what we believe are the finest electronics available today. Every new 2020 model year Regulator will come standard with a Garmin electronics package. From quality to innovation, our customers want it all and we know from our years of experience working together, that Garmin is the perfect fit,” said Joan Maxwell, Regulator Marine president and co-founder.
Regulator will be factory-installing the award-winning GPSMAP® 8600 chartplotter series, offering display sizes ranging from 12 to 17 inches, with models 28-feet and over offering dual 16- or 17-inch displays. Built for mariners who demand high performance, ease-of-use and feature integration, the GPSMAP 8600 series offers premium features like built-in sonar, preloaded BlueChart® g3 cartography with Navionics data, IPS touchscreen displays, full network capabilities and more. Each boat will also come standard with a Garmin VHF marine radio. Other electronics selected by Regulator include the GMR™ xHD2 open array radar series and the award-winning Reactor™ 40 Hydraulic Autopilot with SmartPump, Garmin’s most responsive autopilot system with AHRS technology. Several fishing and convenience upgrade packages are also available to ensure customers can choose additional electronics to fit their needs.
Garmin is the world’s leading marine electronics manufacturer1 and was recently named Manufacturer of the Year for the third consecutive year by the NMEA, an honor given to the most recognized marine electronics company for support of products in the field. Garmin’s portfolio includes some of the industry’s most sophisticated chartplotters and touchscreen multifunction displays, sonar technology, high-definition radar, autopilots, high-resolution mapping, sailing instrumentation, audio, entertainment and other products and services that are known for innovation, reliability, and ease-of-use. Other Garmin marine brands include FUSION® Entertainment, Navionics—a premier supplier of navigation charts, and EmpirBus™. To learn more, visit www.garmin.com/marine.
About Garmin International Inc. Garmin International, Inc. is a subsidiary of Garmin Ltd. (Nasdaq: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin, GPSMAP, BlueChart and FUSION are registered trademarks and GMR and Reactor are trademarks of Garmin Ltd. or its subsidiaries.
All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.
Notice on Forward-Looking Statements:
This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management’s current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 29, 2018, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of such Form 10-K is available at:
The Boeing Co. is looking at south metro Atlanta for a warehouse and distribution center that could approach 1 million square feet — the latest mega project for the region’s booming logistics sector. The aerospace giant (NYSE: BA) is working with third-party logistics provider XPO Logistics Inc. (NYSE: XPO), which has been touring south metro industrial properties this year and may be focused on Clayton and Henry counties. Industrial real estate developers with projects along the Interstate 75 corridor south of Atlanta have competed for the Boeing facility, which could range from 800,000 square feet initially to eventually more than 1 million square feet. Developers have seen a request for proposals for the project, according to real estate sources familiar with the process.
