JACKSONVILLE, Fla. – CSX Corp. (NASDAQ: CSX) today announced that the Company’s Board of Directors has authorized an 8 percent increase in its quarterly dividend, from $0.26 to $0.28 per share. The new $0.28 quarterly dividend is payable on March 15, 2021 to shareholders of record at the close of business on February 26, 2021.
About CSX and its Disclosures
CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural, and consumer products. For nearly 200 years, CSX has played a critical role in the nation’s economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation’s population resides. It also links more than 230 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike.
Spirit (NYSE: SAVE) came out with a quarterly loss of $1.61 per share versus the Zacks Consensus Estimate of a loss of $1.44. This compares to earnings of $1.24 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -11.81%. A quarter ago, it was expected that this airline would post a loss of $2.63 per share when it actually produced a loss of $2.32, delivering a surprise of 11.79%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
Air Lease Corporation (NYSE: AL) announced the delivery of two new Boeing 737-8 aircraft on long-term lease to Sunwing Airlines. These aircraft, featuring CFM International LEAP-1B27 engines, are the third and fourth new Boeing 737-8 aircraft to deliver to Sunwing from ALC’s order book with Boeing.
Sunwing Airlines currently has two 737-800s and two other 737-8s on lease from ALC.
Forward-Looking Statements
This press release 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.
KANSAS CITY, Mo.–(BUSINESS WIRE)– Kansas City Southern (KCS or the Company) (NYSE: KSU) announced that its Board of Directors approved at its meeting today a 23% increase in the quarterly dividend on KCS’s common stock, from $0.44 to $0.54 per share. The board declared a common stock dividend at this increased amount payable on April 7, 2021, to common stockholders of record at the close of business on March 8, 2021.
The increase in the quarterly dividend on KCS’s common stock aligns with the Company’s approach to maintaining a target payout ratio in the low 20% range. This approach was communicated in a November 2020 press release as part of KCS’s updated capital allocation policy, and it represents the Company’s commitment to returning capital to its stockholders.
Also at today’s meeting, the Board of Directors declared a regular dividend of $0.25 per share on the outstanding KCS 4% non-cumulative preferred stock. The dividend is payable on April 6, 2021 to preferred stockholders of record at the close of business on March 8, 2021.
The Board of Directors also set the Annual Meeting of Stockholders to be held on Thursday, May 20, 2021. Stockholders of record of KCS’s common stock and KCS’s 4% non-cumulative preferred stock as of March 22, 2021, will be entitled to notice of the meeting and to vote at such meeting.
Headquartered in Kansas City, Mo., Kansas City Southern (KCS) (NYSE: KSU) is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, serving the central and south central U.S. Its international holdings include Kansas City Southern de Mexico, S.A. de C.V., serving northeastern and central Mexico and the port cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal. KCS’ North American rail holdings and strategic alliances are primary components of a railway network, linking the commercial and industrial centers of the U.S., Mexico and Canada. More information about KCS can be found at www.kcsouthern.com
CALGARY, Dec. 22, 2020 /PRNewswire/ – Canadian Pacific Railroad (NYSE: CP) announced today it has completed its previously announced agreement to purchase an 83.5 percent stake in the Detroit River Rail Tunnel from certain affiliates of OMERS, the defined benefit pension plan for municipal employees in the province of Ontario. CP previously owned a 16.5 percent stake of the tunnel in partnership with OMERS. The purchase price for the transaction is approximately US$312 million, subject to customary closing adjustments.
Air Saint-Pierre has taken delivery of its new ATR 42-600 aircraft, following the signature of a Memorandum of Understanding in July 2018. Based on one of the three main islands of Saint Pierre and Miquelon (around 6,300 inhabitants), Air Saint-Pierre is essential to the archipelago’s economy, as it flies both passengers and goods to Miquelon, St. John’s, the Magdalen Islands, Halifax and Montreal. The new aircraft will replace the airline’s existing ATR 42-500 which has been in operation since 2009.
In addition to benefitting from unbeatable environmental performance and economics, the ATR 600’s proven ability to operate effectively in windy conditions is vital for Air Saint-Pierre. The -600 series can take-off and land in cross wind conditions of 45 knots, a unique capability which enables the airline to offer reliable air services to its communities. Air Saint-Pierre’s passengers will also enjoy the modernity and comfort of the Armonia cabin, whilst the airline’s pilots will appreciate the state-of the-art avionics suite, resulting in a smoother flying experience for all.
Benoît Olano, Chief Executive Officer of Air Saint-Pierre, said: “We are looking forward to starting operations with our new ATR aircraft. We have been flying ATR since 1994, starting with an ATR 42 320, and the turboprop’s unique capabilities and continuous improvement have made it the ideal aircraft for our operations over the years. We will continue to provide to the people of Saint-Pierre and Miquelon the connectivity they need, along with greater comfort, whilst limiting our impact on the environment.”
ATR Chief Executive Officer, Stefano Bortoli added: “There is nothing more satisfying than seeing a loyal customer upgrade its fleet. Delivering regional connectivity in the challenging operational conditions of Saint Pierre and Miquelon and its neighbouring islands takes a special aircraft and the ATR 42-600 is the perfect fit. The airline’s operations are vital for the archipelago’s communities and we are truly glad to see our aircraft once again accomplish what they have been designed for: to connect people and places responsibly, no matter how remote.”
In 2015, Mobile, Alabama became home to Airbus’ first US-based commercial aircraft manufacturing facility. Now celebrating five years of production, it has grown from an initial workforce of around 250 staff producing A320 Family aircraft, to 1,000 employees building both the A220 and A320 aircraft families. To date, the factory has delivered more than 180 A320 Family aircraft to eight customers; aircraft which have subsequently flown 60 million passengers 500 million miles.
For Airbus, commercial aircraft production in Mobile signified two things: its position as a truly global aircraft company, and that it was also a truly American manufacturer. With the addition of this brand new US operation to the company’s A320 production network in Europe and Asia, Airbus had strategically augmented its worldwide industrial base in America – the largest single-aisle aircraft market in the world – to be closer to its US-based customers and key supplier partners.
Enter the A220 Family
The journey of Airbus’ investment in Mobile took a major stride in October 2017 when it announced the decision to introduce a second aircraft programme to the site: the A220 Family, entailing a second assembly line to be built adjacent to the original A320 plant – which would also complement the A220’s primary production site in Mirabel, Quebec, Canada. The arrival into the US of this newest Single-Aisle Family member was an important testament to the confidence that Airbus had in Mobile, and the confidence in the team there to make it happen. Fast-forward to the present, and the first US-built A220 is already in its final stages of manufacture for Delta Air Lines – which will roll-out in the very near future.
Prior to the introduction of the A220 and expansion of the A320 facilities, the Mobile site sat on 116 acres. Today Airbus has added another 70 acres of real-estate which accommodates: two new final phase/flight-line hangars (four bays); an enlarged delivery centre with four new aircraft parking spaces; a ‘pre-transshipment’ hangar and of course the new ‘flow-line’ final assembly line (FAL) building itself. Notably, the delivery centre will be named after one of the company’s former leaders, Tom Enders. Enders supported and drove the establishment of a new Airbus aircraft factory in the US during his tenure as CEO of Airbus.
Doubling local industrial footprint in five years
When complete, nearly US$1 billion will have been invested in Mobile – to create new state-of-the-art facilities designed and built primarily by local companies. In short, Airbus has doubled its footprint there in just five years – establishing a new manufacturing home for Airbus’ Single-Aisle Family. Moreover, a recent study* concluded that Airbus’ total economic impact throughout the state of Alabama in five years was US$1.2 billion, supporting more than 15,000 jobs through construction and payroll.
– One of many pilot-friendly features aboard the Global 7500 aircraft, dual HUD capability allows co-pilot to benefit from Enhanced and Synthetic vision for increased situational awareness
– Flagship Global 7500 aircraft redefines what is possible on a business jet with numerous innovations and the industry’s most advanced flight deck
– The Global 7500 aircraft boasts the longest range and the smoothest ride, and has demonstrated outstanding performance during its first 18 months in service
Bombardier is pleased to announce it has delivered the first Global 7500 aircraft equipped with a dual head-up display (HUD). This first-in-class capability provides additional safety and redundancy to what is already the most advanced and pilot-friendly cockpit in business aviation.
“The delivery of the first Global 7500 aircraft with a dual HUD showcases our outstanding commitment to safety,” said Michel Ouellette, Senior Vice President, Program Management and Engineering, Bombardier Aviation. “This cockpit is designed to put technology and automation at the service of the crew, rather than creating technology that the crew has to manage.”
The sophisticated HUD on the Global 7500 aircraft is equipped with Enhanced and Synthetic vision systems for optimal situational awareness. The second HUD builds on these advantages, with benefits including increased contribution from the co-pilot during HUD-assisted operations, easier switching between pilot flying and pilot monitoring as well as valuable redundancy during low-visibility approaches.
The Global 7500 aircraft is equipped with the latest Bombardier Vision flight deck, featuring unprecedented automation that remains firmly at the service of the crew. Examples include fully automatic fuel transfer and cabin pressurization management, and start-up sequences that are greatly simplified compared to those of other business jets. The unique, automated, self-diagnostic, electronic checklists ensure accuracy and relieve unnecessary manual tasks while providing full visibility to the crew. The Global 7500 aircraft’s proven fly-by-wire system is engineered to maximize safety through a design that combines pilot authority and the industry’s most complete flight envelope protection.
Complementing the safety attributes of the flight deck, the Global 7500 aircraft boasts outstanding low-speed handling characteristics on takeoff and landing, as well as the short-field performance of a light jet.
Emirates has announced it will resume its A380 operations to Toronto starting 16 August, taking its A380 network to six cities.
The airline continues to gradually expand the deployment of its double-decker aircraft in line with market demand and operational approvals.
The iconic Emirates A380 will begin serving travellers on flights to Toronto starting 16 August. The airline has so far resumed A380 operations to Amsterdam, Cairo, Paris, London Heathrow and Guangzhou (8 August) – taking its A380 network to six cities. The Emirates A380 experience remains a favourite amongst travellers for its spacious and comfortable cabins and the airline will continue to gradually expand its deployment in line with market demand and operational approvals.
Customers can fly the Emirates A380 from Dubai to Toronto five times a week. Flights can be booked on emirates.com or via travel agents. Emirates flight EK 241 will depart Dubai at 9:10 and arrive in Toronto at 15:05 local time. The return flight, EK 242 will depart Toronto at 21:45 and arrive in Dubai at 18:30 local time, the following day.
With safety as a priority, Emirates is gradually expanding its passenger services to 70 cities in August, returning to over 50% of its pre-pandemic destination network. Passengers travelling between the Americas, Europe, Africa, Middle East, and Asia Pacific can enjoy safe and convenient connections via Dubai. Customers from Emirates’ network can stop over or travel to Dubai as the city has re-opened for international business and leisure visitors.
COVID-19 PCR tests are mandatory for all inbound and transit passengers arriving to Dubai (and the UAE), including UAE citizens, residents and tourists, irrespective of the country they are coming from.
Free, global cover for COVID-19 related costs: Customers can now travel with confidence, as Emirates has committed to cover COVID-19 related medical expenses, free of cost, should they be diagnosed with COVID-19 during their travel while they are away from home. This cover is immediately effective for customers flying on Emirates until 31 October 2020 (first flight to be completed on or before 31 October 2020), and is valid for 31 days from the moment they fly the first sector of their journey. This means Emirates customers can continue to benefit from the added assurance of this cover, even if they travel onwards to another city after arriving at their Emirates destination. For more details: http://www.emirates.com/COVID19assistance
Alstom and Bombardier welcome the European Commission’s (EC) decision for conditional clearance of the proposed acquisition of Bombardier Transportation by Alstom.
The Commission’s approval for the transaction is conditional on the proposed engagements that consist of:
A transfer of Bombardier Transportation’s contribution to the V300 ZEFIRO very high-speed train and an offer of IP licence to Hitachi for the train co-developed by Hitachi and Bombardier Transportation for use in future very high-speed tenders in the UK
The divestment of the Alstom Coradia Polyvalent and the Reichshoffen production site in France
The divestment of the Bombardier TALENT 3 platform and dedicated production facilities located within the Hennigsdorf site in Germany
Providing access to certain interfaces and products for some of Bombardier Transportation’s Signalling On-Board Units and Train Control Management Systems (TCMS)
The divestitures will comply with all applicable social processes and consultations with employee representatives’ bodies.
The transaction remains subject to further regulatory approvals in several other jurisdictions and customary closing conditions.
Closing of the acquisition is expected for the first half of 2021.
