Category: Economy News (Page 4 of 116)

Ryanair agrees on new partnership deal with OTA kiwi.com

January 29, 2024 / WIL BALDWIN

KIWI GUARANTEE NO OVERCHARGING FOR RYANAIR FLIGHTS/ANCILLARIES

Following the recent approved partnership between Ryanair Holdings PLC (Ireland: RYA) and OTA, loveholidays.com. Ryanair today (Monday, January 29) announced a new partnership agreement with approved OTA, Kiwi.com, which guarantees that Kiwi will now have direct access to the Ryanair.com website without screenscraping, and Kiwi agree to provide their customers with low Ryanair prices for flights and ancillaries, and will see Kiwi provide the direct accurate customer contact and payment details to Ryanair.

This new approved OTA deal means that Kiwi customers can now buy Ryanair flights/ancillaries at real prices (without mark-ups) via the Kiwi.com website, and Kiwi customers will have direct access to their myRyanair account and will receive all Ryanair flight info directly to their email from Ryanair. Kiwi customers will no longer need to complete Ryanair’s customer verification process which unauthorised OTA Pirates’ customers must continue to do.

In addition to these benefits, this deal also allows customers to enjoy Kiwi virtual interline service which allows customers to book connecting flights, but if they miss their connection flight, Kiwi will reaccommodate passengers free of charge on the next available flight.

Ryanair has long campaigned for all consumers to be protected from OTA Pirate overcharges and pricing scams, and an end to fake customer contact and payment info. This approved OTA partnership with Kiwi demonstrates how OTAs can work with Ryanair in a transparent way that eliminates the need for anti-consumer practices while giving Kiwi.com passengers direct access to Ryanair’s low prices with no overcharges or price scams.

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.

Lockheed Martin delivers 75th APY-9 radar for E-2D Advanced Hawkeye

January 29, 2024 / WIL BALDWIN

Syracuse, New York, January 29, 2024 – Lockheed Martin Corporation (NYSE: LMT), under contract to Northrop Grumman for the U.S. Navy’s E-2D Advanced Hawkeye, has delivered the 75^th APY-9 radar that provides the U.S. Navy with information dominance through revolutionary sensor capability. More Hawkeyes have been built and delivered than any other AEW platform in the world.

The newest Advanced Hawkeye variant is at the forefront of technological capability, due in large part to Lockheed Martin’s APY-9 radar. The Northrop Grumman-built E-2 has come to be known as the U.S. Navy’s “eyes of the fleet” because of its ability to simultaneously watch over air, land and sea. Any time a Navy carrier has aircraft airborne, there is an APY-9 radar at work, guarding the United States and its allies.

On Time and On Task

The U.S. Navy has funded 80 out of 86 aircraft in the current program of record. Japan has purchased 18 E-2D Hawkeyes and France has purchased three. With U.S. and international demand, the APY-9 is expected to be in production into the late 2020’s, and in modernization and sustainment well into the 2040’s.

Click the link below to read the full press release!

Lockheed Martin APY-9 Radar

Forward-Looking Statements

Alstom signs contract to supply 16 electric locomotives in Romania

January 29, 2024 / WIL BALDWIN

January 29, 2024 – Alstom, global leader in smart and sustainable mobility, and the Romanian Railway Reform Authority (ARF) have signed a contract for the delivery of 16 Traxx 3 MS electric locomotives and 20 years of associated maintenance services. The contract, totalling around €150 million, extends Alstom’s collaboration with ARF within the rolling stock sector. The 20-year maintenance and repair period can be extended by a further 20 years by concluding an additional agreement.

The Traxx locomotives offer a flexible design based on a robust, modular platform approach compatible with many applications (single or multi-country freight and passenger transport) and available in various configurations (AC, DC and multi-system). This product delivers increased operational performance and reliability with higher energy efficiency and extended maintenance intervals to improve its availability.

Alstom has been active in Romania for almost 30 years and is a market leader in railway electrification and signalling solutions. The company is responsible for implementing signalling or electrification solutions on the Rhine-Danube railway corridor as well as in the Cluj area, where the company is also part of the consortium building the second metro system in the country, in the city of Cluj Napoca. The first CBTC urban signalling solution in the country is under implementation by Alstom on Bucharest’s metro Line 5. The company has also been the provider of maintenance services for the Bucharest metro fleet for nearly 20 years, with an ongoing contract valid until 2036.

Eve announces list of eVTOL suppliers

January 29, 2024 / WIL BALDWIN

Melbourne, Florida, January 29, 2024 – Eve Air Mobility (NYSE: EVEX) has named four additional suppliers for its electric vertical takeoff and landing (eVTOL) aircraft. Thales will supply a proven air data solution, comprising sensors and a computer while Honeywell (NYSE: HON) will supply guidance, navigation and external lighting for the aircraft. RECARO Aircraft Seating will supply the eVTOL’s seats and FACC will supply the horizontal and vertical tail including the rudder and elevator.

Honeywell will supply guidance and navigation products including magnetometers, GPS-aided attitude & heading reference systems, and inertial reference systems built upon decades of engineering and manufacturing experience. These systems will relay and aid the pilots and other onboard systems to ensure safe and efficient flight. The company will also supply external lighting for the aircraft.

Thales will supply a proven air data solution, comprising sensors and computer, which gather critical data such as airspeed, altitude and environmental conditions. The solution then relays the information to pilots and onboard systems to ensure safe and efficient flight in all weather conditions.

RECARO Aircraft Seating, a global supplier of premium aircraft seats for airlines, OEMs and eVTOL aircraft, was selected to design, certify and produce the four passenger seats and one pilot seat for the aircraft. RECARO is widely recognized for product innovation, award-winning customer service and commitment to reliability, efficiency and sustainable practices.

FACC was selected to lead the development and production of the eVTOL’s horizontal and vertical tail including its rudder, elevator and the aircraft’s aileron. FACC is recognized for its production of lightweight components relying on innovative manufacturing techniques and technology.

These new suppliers are in addition to Garmin (NYSE: GRMN), Liebherr Aerospace and Intergalactic that were announced in October and Nidec Aerospace LLC, a joint venture between Japan’s Nidec Corporation and Brazil’s Embraer SA (B3: EMBR3), BAE Systems PLC (London: BAES) and DUC Hélices Propellers which were announced at the Paris Air Show this past summer.

Forward-Looking Statements

Vietjet adds flights to Chengdu China

January 28, 2024 / WIL BALDWIN

Ho Chi Minh City, January, 2024 – Vietjet continues to expand its international flight network with the new route between Ho Chi Minh City and Chengdu, China. The combination will help contribute to promoting trade and tourism between the two cities and two countries, Vietnam and China.

To celebrate the New Year 2024 and the new route Ho Chi Minh City – Chengdu, Vietjet offers thousands of VND0 (*) tickets for passengers who book tickets from today on www.vietjetair.com or the Vietjet Air mobile app with the flight period from February 10, 2024 to March 30, 2024.

Visiting Chengdu, tourists have opportunities to explore the vibrant Chinese culture with famous attractions such as Jinli Ancient Street, Anshun Bridge, Chengdu Research Base of Giant Panda Breeding, or easily come to Jiuzhaigou – a world heritage site recognized by UNESCO, etc. Meanwhile, Ho Chi Minh City is a bustling economic hub of Vietnam with various options traveling in Vietnam and the region via Vietjet’s flight network.

Malaysia Aviation Group to add 12 Aircraft in 2024

January 28, 2024 / WIL BALDWIN

Sepang, Selanger, Malasia, January 29, 2024 – As part of its ongoing fleet modernisation plan, Malaysia Aviation Group (MAG) is set to induct 12 new aircraft in 2024, including its first Airbus 330-900 (A330neo) which is scheduled to arrive in the third quarter of 2024. The Group is looking to receive four of the new aircraft type this year, alongside eight Boeing 737-8 aircraft to support its network growth requirements.

In August 2022, MAG signed Memorandum of Understandings (MOU) with Airbus, Rolls-Royce and Avolon for the acquisition of 20 A330neo aircraft which are scheduled to be delivered through 2028. 10 of the aircraft are directly purchased from Airbus with a back-to-back sale and leaseback arrangement with Avolon, while the remaining 10 are leased directly from Avolon. The acquisition underscores the Group’s steadfast commitment as it seeks to provide modernity and elevate the standards of its service offerings, while ensuring that it can support the post-pandemic growth of the aviation industry.

With the introduction of these new seats, Malaysia Airlines is poised to become the flagship carrier in the world to feature the Elevation seats on the A330 airframe. The A330neo will comprise of 297 seats (28 in Business Class and 269 in Economy Class, of which 24 seats come with extra legroom).

AirJapan Tokyo to Singapore service starts April 2024

January 28, 2024 / WIL BALDWIN

Tokyo, Japan, January 26, 2024 – AirJapan, the new airline brand of ANA Group, will begin service on the Tokyo Narita-Singapore route on Friday, April 26, 2024. Singapore, the third destination for the new AirJapan brand, is not only an attractive tourist destination with a wealth of tourist attractions, but also a global business destination. Changi Airport, one of Asia’s leading airports, offers more convenient access to and from the Southeast Asian region.

AirJapan will contribute to the growth of exchanges between Japan and Singapore, as well as between Japan and Southeast Asia, by providing a “Japanese culture” experience and “high quality and comfort” at an affordable price.

Timed with the scheduled arrival of the second aircraft in April, flights on the Narita-Bangkok route and the Narita-Seoul (Incheon) route that started service in February, will be increased to daily service. Please refer to the AirJapan website for sales dates and details.

Garmin collaborates with Kawasaki on RIDGE side x sides

January 28, 2024 / WIL BALDWIN

Olathe, Kansa, January, 2024, PR Newswire – Garmin (NYSE: GRMN) announced today that it has been selected by Kawasaki Motors Corp., U.S.A., to provide a customized, factory-installed solution for the center console of the all-new 2024 Kawasaki RIDGE^®Limited side x sides. Incorporating Garmin technology seen in the popular Tread^® navigator series, this display will help guide the adventure by providing seamless navigation and vehicle systems information, such as engine data, alerts, rider settings and more. The device is also built to withstand the rigors of an off-road adventure.

Designed to elevate the off-road experience for powersports enthusiasts, the new Kawasaki RIDGE side x side is engineered with premium components and luxurious cabin features, promising unparalleled comfort and versatility for riders navigating rugged trails, as well as those undertaking essential tasks on their properties.

The display units feature a glove-friendly, 8” ultrabright display with turn-by-turn trail navigation¹ that includes OpenStreetMap (OSM) and USFS Motor Vehicle Use Maps for traversing unpaved roads and trails. It comes preloaded with topographic maps, U.S. public and private landowner information and satellite Imagery. Adventure-seekers can also track and keep in touch with friends on the trail through Group Ride Radio features. The integrated displays also provide vehicle information such as RPM, engine temperature, battery voltage, CVT temperature and more.

Forward-Looking Statements

Avelo attends new terminal groundbreaking at Hollywood Burbank Airport

January 27, 2024 / WIL BALDWIN

Burbank, California, January 25, 2024 — Avelo Airlines was among the attendees at the Los Angeles Hollywood Burbank Airport (BUR) groundbreaking of the airport’s new terminal last Thursday.

The 355,000 square-foot facility will replace Hollywood Burbank’s current 94-year-old terminal utilized by Avelo and eight other airlines. BUR’s new terminal will have 14 gates, a variety of options for dining and shopping, more space to move about, and an upgraded TSA checkpoint, among other features.

Key speakers included Hollywood Burbank Airport’s Executive Director Frank Miller, President of the Burbank-Glendale-Pasadena Airport Authority Felicia Williams and Rep. Tony Cardenas, who represents California’s 29th congressional district. Avelo’s Director of Airport Relations Somer Shindler represented Avelo at the ceremony.

Avelo Airlines route map 01/25/2024

Airbus and Tata to set up first helicopter Final Assembly Line in India

January 26, 2024 / WIL BALDWIN

New Delhi, India, January 26, 2024 – In a major boost to ‘Make in India’, Airbus Group SE (Paris: AIR) Helicopters has announced that it is partnering with the Tata Group to establish a Final Assembly Line (FAL) for helicopters in the country. The FAL will produce Airbus’ best-selling H125 helicopter from its civil range for India and export to some of the neighbouring countries.

The FAL will be the first instance of the private sector setting up a helicopter manufacturing facility in India, providing a major boost to the Government of India’s ‘AatmaNirbhar Bharat’ (self-reliant India) programme. Under this partnership, Tata Advanced Systems Limited (TASL), a subsidiary of Tata Group, will set up the facility along with Airbus Helicopters.

The announcement was made during the two-day visit of French President Emmanuel Macron to India as Chief Guest at the Republic Day celebrations on January 26.

The FAL in India will undertake the integration of the major component assemblies, avionics and mission systems, installation of electrical harnesses, hydraulic circuits, flight controls, dynamic components, fuel system and the engine. It will also do testing, qualification, and delivery of the H125 to customers in India and the region. The FAL will take 24 months to set up and deliveries of the first ‘Made in India’ H125s are expected to commence in 2026. The location of the FAL will be jointly decided by Airbus and the Tata Group.

Forward-Looking Statements

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