Category: stock news (Page 8 of 186)

NSPA awards COMLOG new Patriot missiles contract

January 3, 2024 / WIL BALDWIN

Luxembourg, January 3, 2024, PRNewswire – The NATO Support and Procurement Agency (NSPA) has awarded COMLOG, a joint venture between Raytheon, an RTX business (NYSE: RTX), and MBDA, their first contract under the European Sky Shield Initiative, or ESSI. With a total value of up to $5.6 billion, the NSPA contract supports a coalition of nations, including Germany, the Netherlands, Romania and Spain, with a combined quantity of up to 1,000 Patriot® GEM-T missiles, if all options are exercised. The contract includes qualification of updated components, addition of new suppliers, test equipment, and spares to support future sustainment. To support delivery, COMLOG will expand the production capacity of GEM-T missiles in Europe.

GEM-T, the Patriot Advanced Capability 2 (PAC-2) missile interceptor enhanced for defeating tactical ballistic missiles, is a primary effector for the combat-proven Patriot air and missile defense system. The world’s battle-proven air and missile defense system, Patriot is relied upon by eight European nations, and Ukraine, for defense against cruise missiles, ballistic missiles, and enemy drones and aircraft.

Through this contract, Patriot user nations will realize significant benefits. The bundled procurement, in the spirit of the ESSI, offers economies of scale and supports the expansion of production capacity for new Patriot GEM-T missiles to meet increasing demand. The new production capacity for Patriot GEM-T missiles in Europe enhances security of supply and will contribute to the replenishment of Patriot air defense missile inventories. Finally, the initiative strengthens cooperation among NATO allies in alignment with the ESSI.

Forward-Looking Statements

This press release may contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.

Genesee & Wyoming welcomes Grupo Mexico Transport

January 2, 2024 / WIL BALDWIN

Jacksonville, Florida, January 2, 2024, Business Wire – Genesee & Wyoming Inc. (G&W) is pleased to welcome Grupo México Transportes (GMXT) as a new partner in its CG Railway, LLC (CGR) joint venture, pending receipt of regulatory approvals for their purchase of equity interests in CGR.

G&W initially formed a joint venture with SEACOR Holdings Inc. in 2017 to own and operate CGR, which has provided rail-ferry service between the ports of Mobile, Alabama, and Coatzacoalcos, Veracruz, across the Gulf of Mexico since 2001. Last week, GMXT announced its intention to purchase SEACOR’s stake in CGR and become G&W’s new joint venture partner for CGR.

CGR’s service advantages include three-day port-to-port transit time, an expedited customs clearance process and minimal exposure to pilferage while in transit on the Gulf of Mexico. To learn more about the operation, visit cgrailway.com.

Korean Air CEO says 2024 will be a year of change and innovation

January 1, 2024 / WIL BALDWIN

In a New Year’s message to the Korean Air team, Korean Air Lines Co Ltd (Seoul: 003490) Chairman and CEO, Walter Cho, shared that he expected 2024 to be a big milestone for the aviation industry with various changes and innovations shaping the year. Cho emphasized safety and service, and asked his colleagues for their full support to successfully complete the acquisition of Asiana Airlines in 2024.

In his message, Cho anticipated geopolitical risks, global supply chain disruptions, economic slowdowns and prolonged inflation to persist through 2024. He also expected intensified industry competition in regaining market share, and a slowdown of the lucrative cargo business.

Cho further underscored that Korean Air’s operations hinges on commitment to safety, and encouraged his colleagues to take an active role in cultivating a strong safety culture.

QANTAS receives latest freighter conversion to meet increased demand

January 1, 2024 / WIL BALDWIN

Melbourne, Australia, December 31, 2023 – Qantas Airways Ltd (Sydney: QAN) has received its newest Airbus A330 freighter touching down today. The aircraft departed the fleet following its last commercial passenger flight back in February of this year.

This was the second Qantas aircraft to be converted this year following a freighter delivery this past October into the fleet. The conversions were performed by EFW in Dresden, Germany, a joint venture between Airbus and ST Engineering.

Qantas is also planning to convert another nine aircraft to freighters, bringing the carriers total freighter fleet to 12.

NYK conducts trial use for full scale introduction of biofuels

December 29, 2023 / WIL BALDWIN

Starting in fiscal 2024, NYK line [Nippon Yusen Kabushiki Kaisha (Tokyo: 9101)] will conduct full-scale trials of long-term use of biofuels*, which are considered to have net-zero CO₂ emissions, in navigating its existing heavy oil-fired vessels. Moving forward from the previous short-term trials, NYK will comprehensively verify the safety and stable procurement of biofuels when used over a long period. Through this trial, NYK will establish a safe navigation system using biofuels and promote biofuel development to achieve the Group’s goal of a 45% reduction in greenhouse gas (GHG) emissions by fiscal 2030 compared to fiscal 2021.

In this trial, NYK will use biofuel continuously for three months on multiple vessel types. After that, NYK will gradually extend biofuel use for a longer period for further validation.

Since fiscal 2019, the NYK Group has conducted short-term biofuel trials on about 10 vessels. While NYK has confirmed the safety of short-term biofuel use, NYK has not verified the impact of biofuels on the ship’s main engine, generator, motor, fuel supply system, etc., and the quality of biofuels after a certain storage period. NYK also needed to ensure the stability of biofuel procurement when used in more vessels.

NYK announced the NYK Group ESG Story 2023 on November 6, declaring a new target to reduce the NYK Group’s GHG emissions by 45%** from the fiscal 2021 level by fiscal 2030. NYK will promote this trial to achieve the goal.

* Biofuels are produced from biological sources (biomass), such as waste cooking oil, and are considered to have net-zero CO₂ emissions during combustion. Biofuels, also usable in heavy oil–fired engines, are one of the critical solutions to reducing GHG emissions during the transition from heavy oil to zero-emission fuels.

** Reduction ratio on absolute corporate emissions for scope 1 and 2.

Forward-Looking Statements

Delta announces webcast date for December quarter & fiscal year 2023 results

December 29, 2023 / WIL BALDWIN

Atlanta, Georgia, December 29, 2023 – Delta Air Lines Inc (NYSE: DAL) will hold a live conference call and webcast to discuss its December quarter and full year 2023 financial results at 10 a.m. EST, Friday, Jan. 12, 2024.

A live webcast of this event will be available at ir.delta.com. An online replay will be available at the same site shortly after the webcast is complete.

Forward-Looking Statements

Boeing X-37B Orbital Test Vehicle embarks on seventh mission

December 29, 2023 / WIL BALDWIN

Kennedy Space Center, Florida, December 29, 2023, PRNewswire – The Boeing (NYSE: BA) X-37B autonomous spaceplane launched yesterday aboard a SpaceX Falcon Heavy rocket, marking the beginning of its seventh mission.

As it has with every mission, the Orbital Test Vehicle will validate new technologies, fostering innovation and pushing the boundaries of space exploration and utility. On this seventh flight, the X-37B will test future space domain awareness technology experiments that are integral in ensuring safe, stable and secure operations in space for all users of the domain.

Since its inaugural launch in April 2010, the X-37B has consistently set new endurance records, surpassing the initial design mission duration of 270 days. Its sixth mission set a new record with an impressive 908-day journey before returning to Earth in November 2022.

Forward-Looking Statements

Air Canada and Professional Women’s Hockey League seal historic partnership

December 28, 2023 / WIL BALDWIN

Montreal, Quebec, Canada, December 28, 2023 – Air Canada (Toronto: AC) today announced a historic partnership with the new Professional Women’s Hockey League (PWHL) ahead of its inaugural season opener on January 1, 2024. The deal sees Air Canada become an Inaugural Premier Partner of the PWHL and Official Airline for the league’s first six teams, reflecting its deep passion for hockey and sharing the best of Canada with the world.

The airline is also celebrating this historic partnership with a new inspirational ad campaign, entitled “We All Fly,” featuring a cadre of young PWHL hopefuls alongside Canadian hockey legend Mélodie Daoust, which will premiere ahead of each PWHL home opener.

As part of the PWHL partnership, Air Canada is granted intellectual property (IP) rights for all six PWHL teams in Boston, Minnesota, Montreal, New York, Ottawa, and Toronto, the PWHL itself, broadcast, in-venue, and in-market assets, as well as official jersey branding rights for Montreal’s PWHL team. Air Canada will also provide travel support for the league and its players, and will celebrate and promote the PWHL and its future stars across its marketing and communications channels.

The PWHL deal also builds on Air Canada’s prior partnerships in professional women’s hockey, and in women’s sports including with the Women’s National Basketball Association (WNBA), as well as the planned Project 8 professional women’s soccer league in Canada. In addition, and furthering its commitment to supporting the next generation of women’s hockey, Air Canada will host a local girls’ junior hockey team at each historical PWHL home opener in Canada, including Jan. 1 in Toronto, Jan. 2 in Ottawa, and Jan. 13 in Montreal.

Visit aircanada.com and thepwhl.com for more information!

Forward-Looking Statements

Park Hyatt Marrakech officially opens

December 28, 2023 / WIL BALDWIN

Chicago, Illinois, December 27, 2023 – Hyatt Hotels Corporation (NYSE: H) today announces the opening of Park Hyatt Marrakech, marking the debut of the Park Hyatt brand in Morocco and growing the brand’s presence in Africa, joining Park Hyatt Zanzibar and the forthcoming Park Hyatt Johannesburg, slated for 2025. Uniquely located about 9 miles (15 kilometers) from Marrakech’s historic Medina district, the 19-acre (7.5-hectare) resort is situated in an exquisite, off-the-beaten path location at the base of the Atlas Mountains. Surrounded by palm trees, olive trees and jacaranda trees, Park Hyatt Marrakech sits adjacent to the magnificent Al Maaden Golf resort, exclusively offering guests convenient access to the 18-hole course.

Park Hyatt Marrakech stands apart from other luxury hotels in the market through a distinctly residential, modern, and stylish take on Arab-Berber heritage. Inviting worldly travelers to experience the splendor of Marrakech and Morocco at large, the hotel encourages sensory enrichment via thoughtfully chosen touchpoints including authentic design and focus on the surrounding environment as juxtaposed to contemporary art, global fine dining and the latest in individually tailored wellness.

Composed of 16 pavilions arranged around a central, zeolite patio, Park Hyatt Marrakech encapsulates the personalized, understated luxury of the global brand with unexpected, hyperlocal experiences for guests – from breakfast in a hot-air balloon in the Three Atlas Valleys, to dinner in a Bedouin tent in the Agafay desert, to airport transfers in luxury electric cars, and more.

Forward-Looking Statements

Solaris to deliver 105 more electric buses in Milan, Italy

December 28, 2023 / WIL BALDWIN

Solaris, a subsidarary of Construcciones y Auxiliar de Ferrocarriles (Madrid: CAF), has concluded a new contract with the Italian transport operator ATM Milano for the supply of another 105 electric buses. The customer has in this occasion decided to purchase 18 metre long Urbino articulated units, to be delivered starting in the first half of 2025.

The relationship between Solaris and ATM in Milan began in 2014. Since then, the Italian operator has placed orders for some 500 vehicles. In fact, since 2018, Solaris has only supplied zero-emission vehicles to Milan, making the Milan-based company one of the European operators with the largest number of Solaris zero-emission vehicles. The success of this type of projects demonstrates the confidence of the Lombardy capital’s transport authorities in the CAF Group and confirms the Milanese operator’s intention to completely phase out diesel buses from its fleet by the end of 2030.

The chosen vehicle is the electric Urbino 18, a bus equipped with Solaris High Energy batteries with a total capacity of 700 kWh, which can be recharged either via pantograph or by plugging in. It should also be noted that the customer will be implementing a city infrastructure optimisation plan, which will allow the vehicles to be regularly recharged by means of chargers placed at strategic points along the route, thus guaranteeing virtually unlimited driving autonomy throughout the day.

Forward-Looking Statements

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