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United Airlines Holdings Inc.’s shares rose the most in almost three months after the carrier forecast better-than-expected profit this quarter, tempering concerns that Boeing Co. aircraft delays and regulatory pressure will put expansion plans at risk. Adjusted earnings will be $3.75 to $4.25 a share in Q2, the Chicago-based airline said late Tuesday. That topped the $3.73 average of analyst estimates compiled by Bloomberg. The outlook shows how the airline is navigating a challenging start to the year, marked by a rash of safety incidents, the temporary grounding of some planes and the late delivery of aircraft it was counting on for expansion. A Federal Aviation Administration review has already begun to stunt near-term growth, with United recently delaying the start of two new routes. The airline now intends to take just 61 new narrowbody planes this year, down from a prior plan of 101 jets and an original expectation of as many as 183 aircraft. The change will cut United’s capital outlays by about $2.5b this year to $6.5b, the company said. “The bigger evolving story is more balanced capital allocation, which we believe will be self-reinforcing over time,” Duane Pfenningwerth, an Evercore ISI analyst, said in a note. “This is more than short-term delivery timing challenges.” The extra scrutiny from US authorities that led to the route delays also could limit the introduction of new planes into service, Bloomberg reported last month. United revamped its fleet plan “to better reflect the reality of what the manufacturers are able to deliver,” CEO Scott Kirby said in a statement. Kirby has been outspoken about the long-delayed regulatory certification of the 737 Max 10, Boeing’s largest single-aisle model. He recently told the manufacturer to stop producing the plane for United and pulled it from the airline’s 2024 flight plans. In March, he confirmed the carrier was in the market for rival Airbus SE’s A321neo jetliner, saying it’s “impossible to say when the Max 10 is going to get certified.”<br/>

United Airlines Wednesday said it has been prevented from putting new aircraft into service due to an ongoing review of its operations by the U.S. Federal Aviation Administration (FAA). The review was ordered following several safety emergencies involving the Chicago-based airline in recent weeks. A small number of aircraft previously scheduled to enter into service in the current quarter will be pushed into the quarter through September, the company said. The change is expected to have a minimal impact to its growth plans for this year, it added. United has delayed the start of two new international routes, citing a pause in some certification activities by the FAA. It also postponed its investor day, which was scheduled for early next month, due to the review.<br/>The FAA has said the formal evaluation is aimed at ensuring the airline's compliance with safety regulations, identifying hazards and mitigating risk, and effectively managing safety. United told its employees last month they would see more of an FAA presence in its operations over the next several weeks as part of the agency's review of the carrier's "work processes, manuals and facilities." On a call to discuss company results on Wednesday, United CEO Scott Kirby declined to predict when the review would conclude. He said the review does not stop the airline from promoting pilots to captain.<br/>

United Airlines said on Wednesday it has entered into an agreement with Boeing on compensation of financial damages incurred in Q1 due to the grounding of 737 MAX 9 aircraft. US regulators had in January grounded some Boeing 737 MAX 9 aircraft for safety checks following a cabin panel blowout in a new Alaska Airlines jet. The compensation provided by Boeing for the grounding damages and in connection with rescheduling deliveries is in the form of "credit memos" for use on future purchases from Boeing, United Airlines said.<br/>

Police said nine people are facing charges in what authorities are calling the biggest gold theft in Canadian history from Toronto’s Pearson International airport a year ago. Peel Regional Police said Wednesday that 6,600 gold bars worth more than C$20m Canadian dollars and C$2.5m in foreign currencies were stolen. The gold was melted down and used to purchase illegal firearms, police said. Those charged include an Air Canada warehouse employee and a former Air Canada manager who gave police a tour of cargo of the facility after the theft. A jewelry store owner is also charged. “This story is a sensational one and which probably, we jokingly say, belongs in a Netflix series,” Peel Regional Chief Nishan Duraiappah said. Peel Regional Detective Sgt. Mike Mavity said the gold bars, weighing 419 kilograms (923 pounds), and foreign currency, ordered from a refinery in Zurich, Switzerland, were transported in the haul of an Air Canada flight on April 17 last year. He said that late afternoon a truck driver arrived at the airline’s cargo warehouse with a fraudulent bill that was provided to an airline warehouse attendant. Mavity said a bill for seafood that was picked up the day before was used to pick up the gold. The duplicate bill was printed off at the Air Canada warehouse, he said. “They needed people within Air Canada to facilitate this theft,” Mavity said in front of the truck police say was used in the theft. Mavity said police are searching for the Air Canada manager who gave police a tour of the facility in the days after the theft. He said that manager left his job last summer and said they have an idea of where he is.<br/>

Turkish Airlines is set to sign an agreement with Rolls-Royce Holdings Plc and Airbus for the domestic production of aircraft components valued at as much as $20b, part of its mega plane purchase announced last year. A deal could be announced at a ceremony in Istanbul later this month, according to Turkish officials familiar with the matter. The Turkish state is the largest shareholder in the airline. Turkey’s flagship carrier firmed up the purchase of 230 aircraft from Airbus in December, with options for more as the airline looks to scale up its Istanbul hub and take on regional rivals such as Emirates and Qatar Airways. As part of the order, Turkey pushed for local production of airplane parts, the people said. A spokesman for Turkish Airlines confirmed the date for a signing ceremony, without elaborating. Airbus and Rolls-Royce declined to comment. The agreement for domestic production of airplane parts is a key component in Turkey’s goal to develop its civilian and military aviation industry and is part of the 2023 Airbus order that’s valued at about $70b. Turkish companies including state-run TUSAS Engine Industries Inc., or TEI, will likely be part of the manufacturing program, said the officials, who asked not to be identified as the discussions are confidential. Local subcontractors will receive contracts worth $20b for their part in production, the people said. The aircraft deliveries are scheduled over a 10-year period, from 2026 to 2036. While plane orders have rebounded since the Covid-19 pandemic, manufacturers worldwide are struggling to find ways to deal with persistent shortages of parts. Rolls-Royce CEO Tufan Erginbilgic said he expect component manufacturers to remain under strain for “at least another 18 to 24 months,” in an interview at Bloomberg headquarters in New York last month. Turkey has long been engaged in talks with foreign companies including Rolls-Royce to acquire engine technology for its domestic tank and warplane projects. <br/>

Greece's largest carrier Aegean Airlines said on Wednesday that it will order four new extended range Airbus A321neo to cover existing and new routes in Central Africa, Middle East and Asia. The carrier says that these four specially configured new A321neo aircraft will have additional fuel tanks, providing operational capability for flights up to 7.5 hours. The new aircrafts expected to be delivered by 2027.<br/>

Air New Zealand will “work constructively” with Boeing Co. to secure its 787 Dreamliners and has faith the US planemaker can deliver on its order even as it faces increased scrutiny into its manufacturing practices. The board of New Zealand’s national carrier is “very interested in what is happening” at Boeing, Chairwoman Therese Walsh told Bloomberg News in an interview in Singapore, and plans to visit the planemaker in the coming 12 months. “We have to be really interested to make sure that we have the aircraft that we need and they operate in the way we wish them to,” said Walsh, who was in Singapore as part of a delegation of business leaders accompanying New Zealand Prime Minister Christopher Luxon. Back home in New Zealand, the airline is facing a number of headwinds including intense competition on international routes and rising non-fuel costs. It’s also grappling with Pratt & Whitney engine maintenance issues on its Airbus SE A321neo fleet, which will see as many as five of its newest and most efficient aircraft out of service at any one time across the next 18 months, at least. New Boeing 787 Dreamliners, which will be powered by GE Aerospace engines and contain new business class seats and bunk beds in coach, won’t arrive until at least mid-2025 — much later than initially planned. Air New Zealand on Monday announced it will purchase 7,200 tons of sustainable aviation fuel from producer Neste Oyj’s Singapore refinery. Meanwhile, a strategic alliance with Singapore Airlines, which allows the New Zealand carrier to connect passengers to more destinations globally, in February won approval from authorities to run until 2029.<br/>