American Airlines plans to return Boeing 737 Max to service at year-end

The Boeing 737 MAX, including that of American Airlines aircraft, has been grounded since March 2019 after two fatal crashes killed 346 people. (AFP)
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Updated 18 October 2020

American Airlines plans to return Boeing 737 Max to service at year-end

  • Airline to operate a daily 737 Max flight between Miami and New York from Dec. 29 to Jan. 4

American Airlines plans to return Boeing 737 Max jets to service for passenger flights by the end of this year depending on certification of the aircraft from the Federal Aviation Administration (FAA), it said on Sunday.
The airline said it will operate a daily 737 Max flight between Miami and New York from Dec. 29 to Jan. 4, with flights available for booking from Oct. 24.
“We remain in contact with the FAA and Boeing on the certification process and we’ll continue to update our plans based on when the aircraft is certified,” the company said in a statement.
The Boeing 737 MAX has been grounded since March 2019 after two fatal crashes killed 346 people, but the FAA is expected to lift its grounding order at some point in November.
American Airlines said it will make customers aware that they are flying on a 737 MAX.


Swiss bank giant UBS posts best Q3 in a decade despite pandemic

Updated 48 min 46 sec ago

Swiss bank giant UBS posts best Q3 in a decade despite pandemic

  • The world’s largest wealth manager saw net profit jump 99 percent year-on-year to $2.5 billion

ZURICH: Swiss banking giant UBS said Tuesday it nearly doubled its net profit in its best third quarter in a decade, the latest in a string of global lenders to report better-than-expected results despite the coronavirus pandemic.
The world’s largest wealth manager saw net profit jump 99 percent year-on-year to $2.5 billion, it said in a statement, handily beating analyst expectations for $1.5 billion.
The rise comes after net profit dropped by 11 percent in the second quarter to June as the firm stepped up provisions for bad loans with the global economy in a tailspin due to the pandemic.
UBS’ profits received a one-off, third-quarter boost from the $631 million sale of a majority stake in its fund platform Fondcenter to Clearstream, a subsidiary of the Deutsche Borse group.
Its operating profit increased 26 percent to $8.9 billion, also surpassing analyst expectations.
CEO Sergio Ermotti said he was proud of the third quarter results, his last at the helm, with ex-ING group chief Ralph Hamers taking over as chief executive officer on November 1.
“UBS has all the options open to write another successful chapter of its history under Ralph’s leadership,” Ermotti said in the statement.
But UBS did not give any estimate of its outlook, due to a “high level of uncertainty.”
“Going forward, the pandemic and political uncertainties may lead to periods of higher market volatility and could affect client activity positively or negatively,” it said in the statement.
Other global banking giants to report surging profits this earnings season include Goldman Sachs, JPMorgan Chase and Citigroup.