Category: Canada Canadian News (Page 8 of 9)

Air Canada Offers Customers the Convenience of PayPal for Purchasing Tickets in Canada

February 8, 2020 / WIL BALDWIN

Air Canada has introduced a new payment option for customers by enabling them to use PayPal when purchasing tickets online at aircanada.com in Canada. The popular online payment system offers a secure and convenient means to buy tickets, with customers able to pay for their flights with their preferred payment method – bank account, credit cards or Visa Debit card – linked to their PayPal account.

“Air Canada’s strategy is to continually provide customers the opportunity to make their purchase using their preferred method of payment. We are therefore pleased to announce our agreement with PayPal, the popular online payment system that is secure, fast and convenient to use. Having now made PayPal available for ticket sales in Canada, we will look to expand the program to other markets as opportunities arise,” said Keith Wallis, Senior Director, Payments and Distribution, at Air Canada.

“We’re excited to add Air Canada—our first airline partner in Canada—to a growing fleet of airlines across the globe that leverage our global e-commerce platform to expand their reach,” said Paul Parisi, PayPal Canada President. “Our two companies share the same goal to provide a great checkout experience for travellers, so they spend less time buying tickets online and more time enjoying their trip.”

PayPal has more than 300 million active users worldwide.

Air Canada Celebrates the Arrival of its First Airbus A220, Continuing its Fleet Modernization Program (CNW Group/Air Canada)

Airbus Likely to Acquire Remaining Bombardier A220 Stake

February 7, 2020 / WIL BALDWIN

MONTREAL/PARIS (Reuters) – Europe’s Airbus SE <EADSY> is likely to acquire Canadian plane and train maker Bombardier Inc’s <BBD-B.TO> remaining stake in the A220 passenger jet program, two industry sources said.

A deal for Airbus to buy the 33.58% share in the program was widely expected after Bombardier said in January it was reviewing the stake in the joint venture. Barring surprises, a deal is expected next week ahead of both companies’ earnings reports on Feb. 13, the sources added.

Airbus and Bombardier both declined to comment. The terms of a potential deal that would mark Bombardier’s exit from commercial aviation were unclear.

Bombardier, which is weighing additional asset sales, faced a cash crunch in 2015 due to its high-stakes bet on the technologically advanced narrowbody.

Bombardier shares closed up 2.8%.

Montreal-based Bombardier ceded control of the program to Airbus in 2018 for a token C$1 as part of broader efforts to improve its finances. It retained a minority stake alongside the Canadian province of Quebec.

Bombardier had warned the program would require additional cash to ramp up production, and could be subject to a writedown, as it faces higher-than-expected costs in its rail division and more than $9 billion of debt.

Since Airbus took over the program, the A220 has seen a sharp pickup in sales to 658 orders as of Jan. 31. But it has not seen the cost declines expected from Airbus applying its greater purchasing power with suppliers, one of the sources said.

A deal would leave Airbus to shoulder additional investments required by the plane program.

“Airbus did not particularly want to do this at this time, but is presented with little choice if Bombardier is pulling back,” the second source said.

Airbus, with a 50.6% stake in the program, delivered 48 A220 jets in 2019 and is ramping up production toward its maximum monthly capacity of 10 jets in Mirabel, Quebec, and four planes at a second line in Alabama by mid-decade.

Airbus Chief Commercial Officer Christian Scherer told Reuters in January the company was progressing toward its target of a double-digit percentage reduction in the A220’s production costs.

Quebec, with a 16.36% stake in the A220 program, would not invest further. Rather, it is trying to protect the program’s estimated 2,700 jobs, along with the province’s $1 billion investment in the program, Economy Minister Pierre Fitzgibbon said on Monday.

“We put $1 billion in it and that’s enough.”

(Reporting by Allison Lampert and Tim Hepher in Paris; Editing by Diane Craft, David Gregorio and Richard Chang)

Air Canada Boeing 767 Makes Emergency Landing in Madrid

February 3, 2020 / WIL BALDWIN

An Air Canada Boeing 767 aircraft made a safe emergency landing at Madrid’s Adolfo Suarez-Barajas International Airport after part of the jets landing gear reportedly fell off and entered its engines.

The Toronto-bound flight touched down shortly after 7.10pm Monday evening with fire engines lining the runway.

A passenger tweeted out video of the safe emergency landing. Click the link below to view!

https://twitter.com/hashtag/LANDING?src=hash&ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1224395055659659269&ref_url=https%3A%2F%2Fuk.news.yahoo.com%2Fmadrid-airport-plane-emergency-landing-162359631.html

Adolfo Suarez-Barajas International Airport in Madrid, Spain

Airbus Sales Chief Says No Need to Cut Production of A330neo

January 15, 2020 / WIL BALDWIN

MONTREAL (Reuters) – Airbus <EADSY> sees enough demand for its wide-bodied A330neo passenger jet to keep production stable, Chief Commercial Officer Christian Scherer told Reuters on Wednesday.

With some airlines seen unlikely to take delivery of all the jets they have ordered, there has been speculation Airbus would have to trim production of the latest version of its most profitable long-range jet despite a recent flurry of new sales.

“Considering the demand I see on the A330neo I see no need to cut production levels,” Scherer told Reuters on the sidelines of an Air Canada <AC.TO> event in Montreal.

“Production is stable on the A330.”

Last year, Airbus secured 99 firm orders for the A330neo including 40 to an unidentified buyer in December.

Scherer said Airbus is also progressing toward reducing costs on its smallest jet, the A220. The company is targeting a double-digit percentage reduction in production costs.

(Reporting by Allison Lampert in Montreal; Editing by Matthew Lewis)

Bombardier Joint Venture Wins Contract to Build 160 New Chinese Standard High-Speed Train Cars

January 4, 2020 / WIL BALDWIN

With around 4,500 train cars already delivered, Bombardier’s Chinese joint venture is the only Sino-foreign entity to win a new Chinese standard high-speed train bid
New Chinese standard high-speed train cars to enhance passenger experience and contribute to the expansion of the world’s longest high-speed rail network

Global mobility solution provider Bombardier Transportation announced today that its Chinese joint venture, Bombardier Sifang (Qingdao) Transportation Ltd. (BST), has been awarded a contract from China State Railway Group Co., Ltd. (CHINA RAILWAY) to supply 160 CR400AF cars, a new Chinese standard high-speed train car for China’s evolving high-speed rail network. The 160 cars will be configured into ten 16-car trainsets with an operating speed of 350 km/h. The total contract is valued at approximately 2.97 billion CNY ($427 million US, 380 million euro). Bombardier Transportation owns 50 per cent of the shares in BST, which is consolidated by Bombardier Transportation’s partner CRRC Sifang Rolling Stock Co., Ltd.

Jianwei Zhang, President, Bombardier Transportation China, said, “We are very proud to have been chosen to supply the new generation of CR400AF cars, a high-speed railway car, through our BST joint venture. China’s high-speed rail industry has become one of the nation’s economic pillar industries and the high-speed network has brought greater mobility and prosperity to the public. Bombardier is proud of its contributions to China’s rail industry and looks forward to delivering more of the high-quality products that are helping China meet its ambitious long-term mobility goals.”

In 2018, BST won two contracts to build a total of 288 CR400AF cars and every car was delivered on-time and on quality. This latest contract is BST’s third and reflects the trust that CHINA RAILWAY has in BST’s efficiency, reliability and competitive edge. All 160 cars will be delivered by mid-2020.

Bombardier Transportation in China is the full solution provider across the entire value chain. From vehicles and propulsion to services and design, Bombardier Transportation in China has seven joint ventures, six wholly foreign-owned enterprises, and more than 8,000 employees. Together, the joint ventures have delivered 4,500 railway passenger cars, 580 electric locomotives and over 2,500 metro cars, Monorail, APM, and trams to China’s growing rail transit markets. It is a major signalling supplier to the Chinese high-speed network and through its joint ventures, propulsion equipment and signalling systems are utilized in a total of 30 Chinese cities.

Bombardier Renews Operations and Maintenance Contract for John F. Kennedy International Airport

January 3, 2020 / WIL BALDWIN

Renewed agreement continues long-term partnership with one of the ten busiest airports in the United States
Latest contract highlights Bombardier’s comprehensive mobility solutions for transit systems worldwide

Mobility solution provider Bombardier Transportation announced today that it renewed a contract with the Port Authority of New York and New Jersey to provide operations and maintenance services for the Authority’s automated transit system (AirTrain JFK) at John F. Kennedy International Airport in New York. The contract is valued at approximately $309 million US (277 million euro) and covers a period of five years.

“We greatly appreciate the confidence the Port Authority has placed in us and look forward to continuing our 16-year partnership in providing safe, reliable, customer-friendly, 24/7, 365-day service to AirTrain JFK’s growing ridership,” said Elliot G. (Lee) Sander, President, Americas Region, Bombardier Transportation. “We’re proud to offer a convenient and efficient mobility solution for JFK’s passengers and employees, not only within the airport, but between the airport and the city’s transit systems,” he continued.

Bombardier’s scope of work under the contract includes: 24-hour train operations and passenger assistance; maintenance of the vehicle fleet; maintenance of the tracks and power supply and signalling systems; and maintenance of all facilities on the system such as stations and platforms.

Bombardier was a member of the consortium responsible for designing and supplying the AirTrain JFK system, including the fleet of 32 metro vehicles, today branded as BOMBARDIER MOVIA, and has been operating and maintaining the system since its opening in December 2003. The system currently serves a total ridership of over 20 million passengers annually.

Bombardier has been designing, building, operating and maintaining automated transit systems for airports and cities around the world for nearly 50 years. In the United States, the ten busiest airports have chosen Bombardier for their transportation systems.

MOVIA metro vehicles on AirTrain at JFK International Airport

Latécoère Enters Into Agreement to Acquire Bombardier’s Electrical Wiring Interconnection System Business in Querétaro

January 1, 2020 / WIL BALDWIN

Latécoère to acquire EWIS activities and related assets as well as a skilled workforce specializing in harnessing and electrical sub-assemblies in Querétaro
Agreement promotes long-term relationship with Latécoère and supports the optimization of Bombardier Aviation
Bombardier continues to produce major structures at its high-tech main campus in Querétaro, including the aft fuselage for the Global family of jets

Latécoère and Bombardier announced that the companies have entered into a definitive agreement, whereby Latécoère will acquire Bombardier’s electrical wiring interconnection system (EWIS) assets in Querétaro, Mexico. The two companies also concluded a long-term supply agreement that will see Latécoère supply Bombardier with electrical wiring interconnection systems.

The transaction is subject to customary conditions and approvals and is expected to close in the first half of 2020.

Approximately 700 skilled employees are dedicated to the manufacture of EWIS at Bombardier’s facility in Querétaro. Under the long-term supply agreement, Latécoère will continue to supply the EWIS for all Bombardier Aviation platforms, including Global, Challenger and Learjet aircraft from the current location to support Bombardier’s requirements. The annual turnover of the business is anticipated to be around USD 80 million.

“This acquisition reflects our willingness to emerge as a leading player in the global consolidation movement in the aeronautics sector,” said Yannick Assouad, CEO of Latécoère. “We keep deploying our manufacturing footprint on an international scale with a strong desire to strengthen our presence in the areas closest to our customers,” she added.

“This agreement exemplifies Bombardier’s focus on streamlining its activities to foster a strong and efficient aviation franchise,” said Paul Sislian, Chief Operating Officer, Bombardier Aviation. “With Latécoère’s reputation for excellence, this new partnership will result in a winning combination for both our companies.”

Under the terms of the transaction, Latécoère will pay Bombardier a cash consideration of USD 50 million. The transaction further supports Bombardier Aviation’s transformation and sharpens the company’s focus on its core manufacturing capabilities. The skilled employees who manufacture the main harnesses and electrical subassemblies in Querétaro will bring years of experience and value to Latécoère. The sale will not impact the remainder of Bombardier’s operations at its Querétaro site, which will continue to produce major structures for Bombardier aircraft, such as the aft fuselage for the Globalfamily of business aircraft – including the company’s flagship Global 7500 jet – the most complex aircraft component manufactured in Mexico.

Genesee & Wyoming Announces Completion of Sale to Brookfield Infrastructure and GIC

December 30, 2019 / WIL BALDWIN

Genesee & Wyoming Inc. (G&W) today announced the completion of its previously announced sale to affiliates of Brookfield Infrastructure and GIC.

Under the terms of the sale, each issued and outstanding share of G&W common stock converted into the right to receive $112 in cash. As a result of the completion of the sale, G&W’s common stock ceased trading on the NYSE prior to market open today and will no longer be listed for trading on the NYSE.

“This transaction is an excellent outcome for all G&W stakeholders,” said Jack Hellmann, Chief Executive Officer of G&W. “For our customers, employees, and Class I partners, the long-term investment horizon of Brookfield and GIC is perfectly aligned with the long lives of G&W railroad assets. We look forward to building on G&W’s track record of safety, service excellence and commercial growth as we become an important component of a portfolio of global infrastructure assets.”

About Genesee & Wyoming

G&W owns or leases 119 freight railroads organized in locally managed operating regions with 8,000 employees serving 3,000 customers.

G&W’s six North American regions serve 42 U.S. states and four Canadian provinces and include 113 short line and regional freight railroads with more than 13,000 track-miles.
G&W’s Australia Region serves New South Wales, the Northern Territory and South Australia and operates the 1,400-mile Tarcoola-to-Darwin rail line. The Australia Region is 51.1% owned by G&W and 48.9% owned by a consortium of funds and clients managed by Macquarie Infrastructure and Real Assets.
G&W’s UK/Europe Region includes the U.K.’s largest rail maritime intermodal operator and second-largest freight rail provider, as well as regional rail services in Continental Europe.

G&W subsidiaries and joint ventures also provide rail service at more than 40 major ports, rail-ferry service between the U.S. Southeast and Mexico, transload services, contract coal loading, and industrial railcar switching and repair. For more information, please visit www.gwrr.com.

About Brookfield Infrastructure

Brookfield Infrastructure Partners is a leading global infrastructure company that owns and operates high quality, long-life assets in the utilities, transport, energy and data infrastructure sectors across North and South America, Asia Pacific and Europe. We are focused on assets that generate stable cash flows and require minimal maintenance capital expenditures. Brookfield Infrastructure Partners is listed on the New York and Toronto stock exchanges. Further information is available at www.brookfieldinfrastructure.com.

Brookfield Infrastructure is the flagship listed infrastructure company of Brookfield Asset Management, a leading global alternative asset manager with over $500 billion of assets under management. For more information, go to www.brookfield.com.

About GIC

GIC is a leading global investment firm established in 1981 to manage Singapore’s foreign reserves. As a disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate and infrastructure. In infrastructure, GIC’s primary strategy is to invest directly in operating assets with a high degree of cash flow visibility and which provide a hedge against inflation. GIC has investments in over 40 countries. Headquartered in Singapore, GIC employs over 1,500 people across 10 offices in key financial cities worldwide. For more information on GIC, please visit www.gic.com.sg.

CP Completes Central Maine & Quebec Railway Acquisition

December 30, 2019 / WIL BALDWIN

CALGARY, Dec. 30, 2019 /PRNewswire/ – Canadian Pacific (NYSE: CP) has closed the transaction related to the acquisition of the Central Maine & Quebec Railway. The acquisition of CMQ in the U.S. remains subject to Surface Transportation Board approval.

The acquisition, first announced on November 20, 2019, will provide CP customers with seamless, safe and efficient access to ports at Searsport, Maine and to Saint John, New Brunswick, via Eastern Maine Railway Company and New Brunswick Southern Railway, thereby preserving and enhancing competition.

Air Canada’s First Airbus A220-300 Takes to the Skies

December 15, 2019 / WIL BALDWIN

The first A220-300 for Air Canada has successfully completed its inaugural test flight from the Mirabel A220 final assembly line in Canada. The first of 45 aircraft for Air Canada is scheduled to be delivered to the Montreal-based airline in the coming weeks.

With its first A220 commercial flight in early 2020, Canada’s flag carrier will become the first airline in Canada to operate the Canadian-designed and -built A220. It will also become the first carrier in North America to fly the A220-300 variant.

Air Canada is planning to use the A220 on various domestic routes in Canada as well as to the United States. The A220’s unequalled performance and range capability will enable the airline to serve new markets, such as Montreal to Seattle and Toronto to San Jose, connecting the carrier’s main hubs to the West Coast, as of Spring 2020.

Benefitting from the latest technologies, the A220 is the quietest, cleanest and most eco-friendly aircraft in its category. Featuring a 50% reduced noise footprint compared to previous generation aircraft, 20% lower fuel burn per seat and 50% lower NOx emissions than industry standards, the A220 is a great aircraft for neighbourhood airports.

Around 100 A220s are currently flying with six operators on routes in Asia, America, Europe and Africa, proving the great versatility of Airbus’ latest family member.

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