An American Airlines’ Boeing 737 Max 8.
- American Airlines flew the first scheduled passenger flight in 21 months of the Boeing 737 Max in the US on Tuesday from Miami to New York.
- The uneventful flight marked the beginning of a new chapter for the aircraft that aims to restore confidence from the traveling public.
- Airlines like American are eager to get the plane flying to take advantage of its economics and get the grounding behind them.
- The aircraft was grounded for 20 months following two fatal crashes that took the lives of 346 passengers.
- Visit Business Insider’s homepage for more stories.
The Boeing 737 Max saga is finally over for American Airlines as the aircraft’s first flight with paying passengers just landed safely at New York’s LaGuardia Airport after a 3-hour flight from Miami.
American flight 718, a likely homage to one of New York’s area codes, departed Miami onboard just on a routine flight up the East Coast with just 83 passengers, including American Airlines President Robert Isom, on Tuesday. The aircraft quickly climbed to 39,000 feet while hugging the coast, Flightradar 24 data shows, and settled in for the familiar yet monumental journey that would represent a second chance to the ill-fated aircraft.
It was one of the 11 daily flights American would operate between the two cities but arguably the most-watched flight of the day as the first one carrying paying passengers on the jet in the US since March 2019. The two-year-old aircraft operating the flight was delivered to American in May 2018, according to Planespotters.net, but has sat idle on the ground longer than it’s been flying, enduring a 20-month grounding alongside 24 compatriots.
The weeks leading up to this first flight saw American eagerly work to return its Max aircraft to flying service, starting with implementing the required fixes mandated by the Federal Aviation Administration. Once its first few aircraft were in compliance, American began demonstration flights with employees and media, including Business Insider senior reporter David Slotnick.
It’s the day that American has been waiting for since March 2019, but the Max’s story began long before that with a phone call from then-American Airlines CEO Gerard Arpey to Boeing back in 2011. Arpey had pressured Boeing to produce a new fuel-efficient aircraft to rival the next-generation A320neo aircraft being produced by Airbus, which American was considering purchasing at the time.
American was placing a massive order for hundreds of new planes and Boeing was at risk to miss out if it didn’t act quickly. The manufacturer was considering a clean-slate aircraft but American had forced its hand in pulling the trigger on a re-engined version of the popular 737 Next Generation, and the result was the Boeing 737 Max we know today.
“American is pleased to be the first airline to commit to Boeing’s new 737 family offering, which is expected to provide a new level of economic efficiency and operational performance, pending final confirmation of the program by Boeing,” the airline said in a statement, committing to the Max before it was known as the Max.
As Boeing soon found, however, developing the new jet wasn’t as simple as giving it new, fuel-efficient engines as the aircraft’s design needed to be adjusted. The new placement of the engines caused the plane to pitch up and fly differently than the current-generation 737s, prompting Boeing to install a quasi-autopilot system known as Maneuvering Characteristics Augmentation System to angle the plane down, unbeknownst to the pilots.
It was important that the Max flew just like its predecessor so pilots could fly both interchangeably with very little additional training. This was a key selling feature of the aircraft as it could keep training costs down for airlines.
An airline like American could train its pilots on the Boeing 737 using its existing training scheme and only require pilots to undergo minimal computer-based training to fly the Max at limited additional cost to the airline. It’s not uncommon as Airbus has a similar setup for its Airbus A320 and A320neo family aircraft since the cockpits are nearly identical.
But the system ended up working against Boeing as sensor failures inadvertently activated and crashed two airliners carrying a total of 346 people. Boeing spent over a year working on fixes before the Federal Aviation Administration was satisfied enough to begin test flights in late September.
FAA Administrator Steve Dickson, a former airline pilot, was at the helm for one of them to personally vouch for the aircraft’s safety. His agency had come under scrutiny for not properly regulating Boeing, mishandling the certification process for the 737 Max, and more recently, mishandling the recertification process, as a US Senate report found.
Building back the Max in the US
American is the first US airline to resume service with what is arguably the most infamous aircraft of the modern era, rushing to launch the aircraft in 2020 ahead of its competitors. Brazil’s Gol Linhas Aéreas was the first airline to resume flying the Max, operating the first flight on December 9, followed by Aeromexico on December 29.
United Airlines won’t be flying the aircraft for another month, planning to fly the Max from Houston and Denver starting February 11, 2021. Southwest Airlines, while maintaining the largest Boeing 737 Max fleet before the pandemic, hasn’t yet announced a start date or loaded the aircraft into its schedule, the most recent Cirium data shows.
Alaska Airlines has a tentative start date of March 1, 2021, for the aircraft where it will fly routes across the West Coast. The first model is set to arrive at Alaska in January, after which the airline has promised extensive proving runs of over 50 hours across 19,000 miles.
Richard Aboulafia, vice president of analysis at Teal Group, told Business Insider that there are two likely reasons for American’s haste in restoring the Max to service: fuel prices and seasonality. The aircraft has economic benefits that airlines can’t afford to pass up and the Max can hedge against rising fuel prices thanks to its fuel efficiency.
“There is a concern that fuel prices are nudging upwards again, and might go higher again with the recovery,” Aboulafia said.
American is also basing the aircraft in Miami, which has experienced a surge of travelers looking to escape the hardest-hit cities of the pandemic. Having the Max can help increase margins on routes to South Florida, and other popular locales like St. Thomas and St. Croix in the US Virgin Islands where American plans to fly the jet come January.
All four US airlines flying the Boeing 737 Max, however, have vowed flexibility for passengers who prefer not to fly on the aircraft. Passengers finding themselves on the aircraft can make free changes to other aircraft.
The successful first flight begins the long road to restoring consumer confidence in the jet. While some view the aircraft as the “single most scrutinized jet in history,” as Aboulafia said, others are actively avoiding it as the Max has had staying power in the minds of the traveling public unlike any other grounded aircraft in recent years.
American will fly the plane exclusively between New York and Miami until January 5, 2021, when more routes will see the plane. And the Max name isn’t keeping many away as the return flight from New York to Miami is reportedly “booked solid.”
Spark Networks Announces Conference Call to Discuss First Quarter 2021 Results
BERLIN, May 5, 2021 /PRNewswire/ — Spark Networks SE (NYSE: LOV), one of the world’s leading online dating companies, announced today that the co…
BERLIN, May 5, 2021 /PRNewswire/ — Spark Networks SE (NYSE: LOV), one of the world’s leading online dating companies, announced today that the company will hold a conference call to discuss First Quarter 2021 financial results on Monday, May 17, 2021 at 10:00 am ET.
Call Title: Spark Networks SE First Quarter 2021 Earnings Conference Call
Toll Free: 1-877-705-6003
Germany Toll-Free: 0 800-182-0040
In addition, the Company will host a webcast of the call which will be accessible in the Investor Relations section of the Company’s website at https://investor.spark.net/investor-relations/home. A replay will begin approximately three hours after completion of the call and run until May 31, 2021.
Toll Free: 1-844-512-2921
Replay Pin Number: 13719604
About Spark Networks SE:
Spark Networks SE is America’s second largest dating company, listed on the New York Stock Exchange American under the ticker symbol “LOV,” with headquarters in Berlin, Germany, and offices in New York and Utah. The Company’s widening portfolio of premium and freemium dating apps include Zoosk, EliteSingles, Christian Mingle, Jdate, JSwipe, SilverSingles and eDarling, among others. Spark Networks SE in its current form is the result of the merger between Affinitas GmbH and Spark Networks, Inc. in 2017 and the addition of Zoosk, Inc. in 2019. Spark Networks has approximately one million monthly paying subscribers globally.
Safe Harbor Statement:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, statements involving known and unknown risks, uncertainties, and other factors that may cause Spark Networks’ performance or achievements to be materially different from those of any expected future results, performance, or achievements. Any statements in this press release that are not statements of historical fact may be considered to be forward-looking statements. Written words, such as “believes,” “hopes,” “intends,” “estimates,” “expects,” “projects,” “plans,” “anticipates,” and variations thereof, or the use of future tense, identify forward-looking statements. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. There are a number of factors that could cause actual results and developments to differ materially, including, but not limited to, the risk that the benefits from the acquisition of Zoosk, Inc. may not be fully realized or may take longer to realize than expected; risks related to the degree of competition in the markets in which Spark Networks operates; risks related to the ability of Spark Networks to retain and hire key personnel; the timing and market acceptance of new products introduced by Spark Networks’ competitors; Spark Networks’ ability to identify potential acquisitions; Spark Networks’ ability to comply with new and evolving regulations relating to data protection and data privacy; general competition and price measures in the market place; risks related to the duration and severity of Covid-19 and its impact on Spark Networks’ business; and general economic conditions. Additional factors that could cause actual results to differ are discussed under the heading “Risk Factors” in Spark Networks’ Annual Report on Form 20-F for the year ended December 31, 2019 and in other sections of Spark Networks’ filings with the Securities and Exchange Commission (“SEC”), and in Spark Networks’ other current and periodic reports filed or furnished from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on information available to Spark Networks as of the date hereof, and Spark Networks assumes no obligation to update any forward-looking statement except as required by law.
Vice President of Investor Relations
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SOURCE Spark Networks SE
Markets Insider and Business Insider Editorial Teams were not involved in the creation of this post.
One of the US’s leading résumé experts shares 3 tips to improve your résumé’s performance after the pandemic
Keep your résumé short. Recruiters may still be suffering from burnout too. SDI Productions/Getty Images Marc Cenedella is the founder of Leet…
Keep your résumé short. Recruiters may still be suffering from burnout too.
SDI Productions/Getty Images
- Marc Cenedella is the founder of Leet Resumes, a free technical résumé-writing service.
- The COVID-19 pandemic has left many people with gaps in their employment history.
- Re-adjusting your résumé will help you capitalize on the dramatic jobs recovery we’re experiencing.
- See more stories on Insider’s business page.
Hiring is picking up strength, with almost 1 million new jobs added in March and companies beginning to report that hiring is getting difficult again.
With that in your mind, your résumé may need a post-pandemic tuneup.
2020 upended all of our expectations, and that may have impacted your employment history, work accomplishments, or career ambitions in the recent past.
To improve your résumé’s performance in this newly resurgent 2021, here are three post-pandemic résumé tips from Leet Resumes.
1. Address gaps
Unlike past recessions, the COVID downturn happened very fast and without the usual warning signs. As a result, typical white-collar professionals didn’t have a chance to get ahead of the bad news and find a new employer before their company laid them off.
This was reflected in the unemployment rate among college-educated professionals. During the Great Recession, it had never risen above 5.0%. In May 2020, with the sudden onslaught of the coronavirus epidemic, and the rapid impact to the economy, it reached 8.4%
If you’ve had gaps in your employment history due to COVID, consider changing how you handle dates on your résumé. Instead of spelling out the months, summarize using the year only. For example, use 2016 – 2020 instead of July 2016 – March 2020. That way, the gap between the job that ended in March 2020 and the new one that began in September 2020 will be something you can explain during an interview rather than before it.
2. Highlight numbers
After a year of cutbacks, the economy is expected to grow 7% this year due to stimulus and the bounceback from the lockdowns.
As a result, post-pandemic employers are prioritizing roles that can produce the biggest improvements in their business this year. Hiring managers want to hire employees with a proven ability to deliver better numbers, whether that’s an increase in revenue, decrease in costs, improvement in efficiency, or reduction in budget.
Make it easy for employers to understand the specific problems you’ve solved in the past by quantifying your success. Don’t just list your duties and responsibilities, provide numerical proof that you excelled at delivering on them.
Instead of writing ‘tasked with growing sales’, write ‘Increased sales 17% by aggressive prospecting.’ Don’t just say ‘duties included marketing efficiency’, when you could say ‘Improved marketing efficiency by reducing budget $134,000 while keeping lead volume consistent.’
Whatever your numbers are, make sure you share them in clear, concise language that allows your future boss to understand exactly how effective you are in contributing to your team’s and your company’s goals.
3. Keep it short
While ubiquitous WFH arrangements once seemed like a utopia, this past year has taught us all about some of the downsides. Rather than being an oasis of calm in a hectic world, where your daily tasks can be handled in quiet repose, WFH has become a round-the-clock marathon of Zoom, Slack, email, and conference calls. It never stops.
Well, the readers of your résumé are experiencing the same shock to their system. After cutbacks in HR last year, recruiters and hiring managers are expected to do more with less, and do it all over Zoom. As a result, they have even less time to spend reading your résumé.
Recruiters spend just six seconds doing a first scan of your résumé, and that’s barely enough time to get your name and professional headline correct. They certainly don’t have time to rifle through four, six, or nine page résumés. My company Leet Resumes re-writes résumés for professionals for free and recommends sticking with two pages at most for almost all professionals.
If you have 10+ years experience, two pages is most often the right choice. And if you have less than 10 years of experience, keep it to just one page – your professional headline, your professional summary, your work experience, education, and a keywords section that includes the technologies that you’re most familiar with.
Don’t try your future boss’ patience with long-winded descriptions of internships or college class projects. They simply aren’t relevant to your future performance in a professional job and aren’t considering once you are a few years out of school.
So with the economy coming back strong, and the hiring market suddenly as strong as it’s ever been, post-pandemic professionals are encountering a favorable hiring environment in 2021. Using these tips to re-adjust your résumé strategies will help you capitalize on the dramatic recovery we’re experiencing after our topsy-turvy year. Good luck!
Jefferies shares 4 market sectors that are set to soar as prices and interest rates rise – and explains why each one is worth being exposed to
Reuters / Brendan McDermid The FOMC is meeting for two days this week to discuss interest rates and monetary policy. Low interest rates and p…
Reuters / Brendan McDermid
- The FOMC is meeting for two days this week to discuss interest rates and monetary policy.
- Low interest rates and price hikes in some areas of the market have triggered inflation concerns.
- Jefferies sees inflation reaching at least 2%, and shares 4 sectors that stand to benefit.
- See more stories on Insider’s business page.
This week is going to be an eventful one for investors as more earnings results and key economic data continue to roll in alongside a Fed monetary policy decision and press conference.
The Federal Open Market Committee (FOMC) of the Federal Reserve will meet for two days on Tuesday and Wednesday to discuss interest rates and monetary policy. While many expect the Fed to maintain its accommodative policy, investors will be closely monitoring comments on inflation and the central bank’s economic outlook during a press conference on Wednesday.
Inflation concerns have been growing on Wall Street as the Fed continues to keep interest rates low even though pent-up demand has faced low supply in some pockets of the economy. Prices for some end products have been rising, which is important to note given that the Fed can respond to fast-rising prices by tightening its policy.
However, rising interest rates and inflation, which erodes the value of cash, aren’t bad news for some industries, according to Steven G. DeSanctis, an equity strategist at Jefferies.
In a recent note to clients, he said some sectors could perform well in an environment with rising prices and rates, adding that the bank forecasts inflation to reach between 2% and 4% levels.
4 sectors that can benefit from higher inflation and rising rates
DeSanctis said the healthcare sector performs better than most of the other sectors when inflation is above the median, accelerating, and in between 2% to 4%.
“We also find it interesting that the group performs well when rates are rising. One would think that this is a long-duration sector and when rates rise, performance would head south but not the case based on its correlation. Inside of Health Care, Equipment & Supplies along with Providers & Services thrives,” he added.
Other tailwinds for the group include a pickup in overall M&A activity within the sector and its 12-month difference in performance, he said.
Following a stellar performance last year, healthcare is now trailing the market on a year-to-date basis, making the 12-month difference in performance the fifth-worst on record, according to DeSanctis.
But in the past, when performance was this bad, relative returns usually bounced back over the next three, six, and 12 months; and when deal activity accelerates, the group “performs very well at 18% annually,” he added.
Additionally, Jefferies’ US economist Aneta Markowska says the yield curve has steepened and interest rates could reach 2%, and that is favorable for materials.
Commodity prices have also surged over the past month, which should benefit the sector as it houses companies that are engaged in the discovery, development, and processing of raw materials, DeSanctis said.
Commodity prices usually rise when inflation is accelerating, and therefore some choose to invest in this asset class to hedge against inflation.
Plus, Biden’s infrastructure bill, which aims in part to upgrade old infrastructures such as buildings, highways, and bridges could also “really help this sector,” according to DeSanctis.
For those choosing to act on the recommendation, Vanguard Materials ETF is an example of an exchange-traded fund that offers exposure to this sector.
Another group that was already poised to win even before an infrastructure package was finalized includes industrials, DeSanctis said.
It’s usually a pro-cyclical sector, meaning that it tends to perform well when the economy is flourishing and can benefit from rising rates that suggest stronger economic growth.
Meantime, the PMI and ISM are improving, and that “gets reflected in stronger earnings and sales revision ratios that are better than the universe,’ he said.
That’s because those are leading indicators of economic activity given that they measure the prevailing direction of economic trends in manufacturing and the change in production levels across the U.S. on a monthly basis.
The Fidelity MSCI Industrials Index ETF is an option for investors who want to gain exposure to this market area.
Another sector that could benefit from higher inflation includes real estate.
Some investors choose to jump into real estate when inflation climbs because rising prices usually increase the value of a property over time as well as the amount that tenants pay in rent.
Additionally, DeSanctis says the sector is as cheap as it was in 2009, and has a low level of debt alongside higher cash levels.
Those looking to gain exposure to the real estate industry within the US equity market might want to consider the Schwab US REIT ETF.
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