1) American airlines are preparing to return their Boeing 737 MAXs back into service following the Federal Aviation Administration’s approval for flight service. Starting in 2021 airlines such as American Airlines, United Airlines, Southwest Airlines, and Alaska Airlines will fly the 737 MAX in 2021, starting the first of the year. Southwest airlines operates an all-Boeing 737 fleet, so incorporating the 737 MAX into its daily flying operations, after all the FAA’s required fixes have been completed, will be straightforward. Their pilots training on the aircraft won’t be difficult at all. Southwest currently has 34 MAX aircraft in its fleet with orders for nearly 300 more aircraft.
2) Americans out of work because of the coronavirus are depending on food banks and pantries for their daily subsistence. But these food resources are being depleted of their supplies of food, raising fears of pending food shortages looming. Food banks across Texas are already preparing for expected food shortages during the coming early months of 2021. There are three key federal and state programs that enabled food banks in-state to keep up with the demand this year, but these are about to end. Food insecurity is twice as high as before the pandemic. One food bank system warns that it could face a deficit of up to 10 billion pounds of food in the months leading up to June 2021. This translates into a shortage of about 8 billion meals. Estimates are that 50 million people could experience food insecurity, which is a 50% increase from 2019. Additionally, while remote learning is preventing the spread of the coronavirus, it is also causing food insecurity for children who rely on school-provided meals each day.
3) A test flight of a SpaceX’s Starship rocket, which is expected to eventually carry passengers to the moon and Mars, exploded after launch Wednesday while trying to land, but instead it impacted with the ground. The launch and ascent were successful, but as the engines reignited for landing, the vehicle flipped back to vertical and then slammed into the ground, exploding on ground impact. The test was expected to reach an altitude of about 41,000 feet. There were a number of objectives, 1) How the three Raptor engines perform, 2) The overall aerodynamic entry capabilities of the vehicle 3) How the vehicle manages propellant transition. The SN8 also attempted to perform a landing flip maneuver, a first for a vehicle of this size.
4) Stock market closings for – 9 DEC 20:
Dow 30,068.81 down by 105.07
Nasdaq 12,338.95 down by 243.82
S&P 500 3,672.82 down by 29.43
10 Year Yield: up at 0.94%
Oil: up at $45.71