On Thursday, Boeing Co. test pilots took the first KC-767 Tanker slated for the Japan Air Self-Defense Force on its maiden flight. Boeing also recently completed critical Federal Aviation Administration certifications on the first KC-767 for Italy and will deliver the first two of four tankers to that country in 2007. In addition to flight-testing the KC-767 for international customers, Boeing is competing for a contract to build 179 next-generation tankers for the U.S. Air Force as they replace their KC-135 fleet under the KC-X acquisition program next year.
Options, taxes hurt Red Hat profits
Red Hat Inc., a leading provider of the open source Linux operating system and services, reported Thursday that its third-quarter profit sank 37 percent because of stock options expenses and tax provisions. For the three months ended Nov. 30, earnings dropped to $14.6 million, or 7 cents per share, down from $24.6 million, or 12 cents a share in the same period last year. Excluding stock options expenses and income tax provisions, profit totaled $29.6 million, or 14 cents per share. Analysts surveyed by Thomson Financial forecast a profit of 12 cents, excluding options.
Dutch airline orders three 737-800s
Boeing Co. said Thursday that KLM Royal Dutch Airlines had exercised options for three 737-800 jets. Three of the single-aisle, narrow-body planes carry a price tag of more than $200 million at list prices, although customers typically negotiate significant discounts. The jets are scheduled for delivery in 2008. Chicago-based Boeing also said KLM was the previously unnamed company behind a recent order for an extended-range version of Boeing’s 777-300.
Pfizer executive gets $180 million
Pfizer Inc.’s former chief executive, Henry McKinnell, who was forced into an early retirement in part because of investor anger about his rich retirement benefits, will get every penny of them and more, a new regulatory filing shows. McKinnell’s package, which the company disclosed in a filing with the Securities and Exchange Commission on Thursday, totals more than $180 million. It includes an estimated $82.3 million in pension benefits, $77.9 million in deferred compensation, and cash and stock totaling more than $20.7 million. The company said McKinnell’s departure “contractually obligated” it to provide McKinnell with certain severance payments and benefits.
US Airways firm about takeover
US Airways’ chief executive issued a scathing rebuke Thursday of Delta Air Lines’ stand-alone reorganization plan and said he is more determined than ever to push ahead with his company’s hostile bid to buy Delta. Delta shot back that it hasn’t changed its position that it wants to remain independent, intensifying the war of words that started when Tempe, Ariz.-based US Airways Group Inc. disclosed its $8.4 billion offer to buy Delta Air Lines Inc. on Nov. 15.
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