Tag: long (Page 11 of 17)

American Airlines Announces New Investments at DFW Airport

December 7, 2019 / WIL BALDWIN

Investments as airline expands global network from DFW, improves customer experience

FORT WORTH, Texas — American Airlines has announced plans to build a new, larger catering kitchen at Dallas Fort Worth International Airport (DFW). The new facility is part of American’s long-term growth strategy at its largest hub, and will allow the airline to better serve customers as it grows.

The investment reaffirms American’s commitment to grow and improve customer experience at DFW. In addition to the new kitchen, construction is also slated to begin ona a state-of-the-art aircraft parts distribution facility, which will help reduce maintenance delays by providing parts from DFW to American’s global network.

This year alone, American has expanded at DFW by adding 15 more gates and increasing the amount of flying to 900 daily departures. Additionally, the airline introduced a Flagship Lounge to serve premium customers travelling to international destinations. The growth is part of a larger strategy that will continue as American continues to invest in the operational efficiency and customer experience initiatives at DFW.

“DFW remains a great source of opportunity and growth for American,” said Cedric Rockamore, American’s Vice President of DFW of Hub Operations. “These investments will ensure we can continue to welcome the world to and through DFW for a very long time.”

Catering kitchen

American will build a new catering kitchen to support DFW’s current and future catering demands. The new facility will replace the existing catering kitchen, which was built in 1982 and is too small to support the airport’s growing operation. Construction on the new kitchen will begin in January 2020.

“In addition to more space, the new kitchen will provide updated equipment and efficiencies to improve our catering operation, which improves our reliability and provides a better experience for our customers,” Rockamore said.

The $100 million construction project will take about 18 months to complete and supports the first phase of development for DFW’s new Terminal F. This phase includes four new gates and customer areas located on the southeast corner of Terminal D and is scheduled to open in 2022.

The kitchen will continue to be staffed and operated by LSG Sky Chefs, the airport’s largest catering vendor.

Central Fulfillment Center and cargo mail facility

American plans to break ground in January 2020 on a new Central Fulfillment Center that will house aircraft parts for line maintenance support across our network. The 390,000-square-foot facility will enable the airline to fulfill request for parts up to 75% faster, minimizing potential maintenance delays. Locating this facility at DFW enhances our ability to distribute parts for overnight maintenance throughout the network.

This project will also include a facility for cargo mail, a key revenue stream and narrowbody product for American Airlines Cargo. The expanded space will allow the Cargo team to optimize fleet, network and market demands for transporting mail.

Terminal expansion

To support the demand for additional growth, DFW continues to develop new and optimize existing terminal spaces. These efforts include two new gates and customer areas at Terminal E, which American will utilize to support summer 2020 flying, and the continued development of Terminal F.

With the first phase of development for Terminal F underway, details of the additional phases will be developed as American and DFW continue to study infrastructure demands and customer needs.

Bombardier Announces Long-term Agreement with GTAA to Relocate its Global Aircraft Final Assembly

December 4, 2019 / WIL BALDWIN

Ultra-modern and high-tech manufacturing facility will be located at Toronto Pearson International Airport
Slated for completion in 2023, the one-million square-foot facility will be home to the most advanced aircraft manufacturing processes in the world
Strengthened commitment to Ontario’s aerospace industry, securing job growth and supporting economic development in the region for years to come

TORONTO, Dec. 04, 2019 (GLOBE NEWSWIRE) — Bombardier is pleased to announce that it has signed a long-term lease agreement with the Greater Toronto Airports Authority (GTAA) to build its new state-of-the art Global Manufacturing Centre located at Toronto Pearson International Airport. With preliminary site work underway in Mississauga and first production activities set to begin in 2023, the cutting-edge facility will optimize final assembly operations for all Global business jets, including the industry flagship Global 7500 business jet.

The Global Manufacturing Centre at Toronto Pearson International Airport, approximately 20 km from the current Global aircraft final assembly site at Downsview, will reinforce Canada’s leading position in the business aviation market.

“Today, I’m very excited to announce the relocation of our Global aircraft family production activities to a new, cutting-edge manufacturing facility at Toronto Pearson. This is a strategic move for Bombardier and a strong commitment to Ontario’s aerospace industry. It will allow us to offer world-class career opportunities and continue fueling the economic development of the region for years to come,” said Alain Bellemare, President and Chief Executive Officer, Bombardier Inc.

The one-million square-foot facility will combine thousands of highly-skilled employees with 21st century production and tooling innovation. Bombardier employs the highest caliber technology throughout the manufacturing process of the Global 7500 business jets, including a state-of-the-art automated positioning system that uses laser-guided measuring to ensure major aircraft structures, such as the wing and fuselage, are joined consistently and perfectly each time. Combining human ingenuity with the most advanced machines, the Global 7500final assembly line in Toronto is a testament to the industry’s most advanced business jet.

This strengthened commitment to the Greater Toronto Area will also leverage significant recent R&D investments and a continued collaboration with Ontario’s colleges and universities for world class training, research and development.

Bombardier also confirmed it will continue to support the aerospace heritage of the Downsview site with a multi-million-dollar contribution to the Downsview Aerospace Innovation and Research Consortium (DAIR) to develop a visionary aerospace hub for academic research and training activities. The contribution includes $2.5 million CAD in capital funding to refurbish the historic Moth Building, where wartime Mosquito fighter bombers and Tiger Moth trainers were produced.

United Orders 50 New Airbus Long-Range Jets to Replace Boeing 757’s

December 3, 2019 / WIL BALDWIN

CHICAGO, Dec 3 (Reuters) – United Airlines Holdings Inc announced on Tuesday an order for 50 Airbus SE A321XLR jets to fly between the U.S East Coast and Europe, becoming the latest U.S. airline to ink a deal for the European planemaker’s new passenger jet.

The long-range A321XLR jets will replace United’s 53 Boeing 757-200 planes beginning in 2024, the Chicago-based planemaker said, flying to cities like Porto, Portugal and other potential new destinations.

United’s 757 planes will reach the end of their lifespan in about a decade and Boeing Co is not building any more of the large single-aisle model.

Instead, the U.S. planemaker has been considering a new twin-aisle plane, provisionally known as the NMA, but has delayed a launch decision until 2020 while it manages the ongoing global grounding of its 737 MAX jets following two fatal crashes.

United’s chief operating officer Andrew Nocella told reporters the airline has worked closely with Boeing on the potential new aircraft and is still open to orders if the planemaker decides to move forward with developing the NMA.

Meanwhile, U.S carriers including American Airlines Group Inc, JetBlue Airways Corp and Spirit Airlines Inc have agreed orders for Airbus A320neo-family jets.

Among the benefits of the A321XLR is a 30% lower fuel burn per seat compared to previous generation aircraft, United said.

United has also ordered the larger A350 widebody jets but said it is deferring delivery of those jets until they are needed in 2027.

Its A321XLR order is the second for a U.S. carrier following tariffs that the United States is imposing on European-made aircraft.

(Reporting by Tracy Rucinski Editing by Chris Reese and Michael Perry)

Canadian Pacific to Acquire Central Maine & Quebec Railway from Fortress Transportation and Infrastructure Investors LLC

November 20, 2019 / WIL BALDWIN

CALGARY and NEW YORK, Nov. 20, 2019 /PRNewswire/ – Canadian Pacific (CP) and Fortress Transportation and Infrastructure Investors LLC (FTAI) announced they have entered into a definitive agreement whereby CP will acquire the Central Maine & Quebec Railway (“CMQ”).

CMQ owns 481 miles (774 kilometres) of rail lines primarily in Quebec and Maine. The end-to-end transaction 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 (EMRY) and New Brunswick Southern Railway (NBSR), thereby preserving and enhancing competition.

“This strategic acquisition gives CP a true coast-to-coast network across Canada and an increased presence in the eastern U.S.,” said CP President and CEO Keith Creel. “With additional port access, more dots on the map, and our proven precision scheduled railroading operating model we are confident this transaction will bring benefits to all stakeholders moving forward.”

As part of the transaction, FTAI will retain ownership of Katahdin Railcar Services (KRS), a tank car cleaning and repair facility, and the contract to operate at a 12-mile branch line at FTAI’s Long Ridge Energy Terminal in Monroe County, Ohio. FTAI intends to continue to develop and grow both the KRS and Long Ridge branch line businesses.

“We are excited about this transaction as it brings value to our shareholders, while ensuring that the CMQ continues to provide safe and reliable rail transportation options,” said Joe Adams, FTAI CEO.

CP invests in its people and its assets to ensure it can provide service safely and efficiently. CP has been the safest railway in North America for 13 consecutive years, as measured by train accident frequency and meets all regulatory requirements.

The transaction is currently expected to close at the end of 2019 and remains subject to customary closing conditions. Over the coming weeks, CP, FTAI and other stakeholders will move towards closing.

Italian Airline Alitalia’s Rescue in Doubt as Atlantia Backtracks

November 19, 2019 / WIL BALDWIN

MILAN, Nov 19 (Reuters) – Italian infrastructure group Atlantia said on Tuesday it was not ready to join a consortium led by Italian railway group Ferrovie dello Stato to rescue loss-making carrier Alitalia, casting a shadow on the entire project.

After months of negotiations and with just one day left before a deadline expires, the group controlled by the Benetton family said that the conditions did not exist yet for it to join a consortium working on Alitalia.

Atlantia added, however, it remained available to engage in negotiations to seek for an industrial partner for the carrier.

A deadline to present a binding offer for Alitalia expires on Thursday, after being postponed several times.

Loss-making Alitalia has been run by special administrators since May 2017 and talks led by Ferrovie have been going on for a year without a deal.

The carrier, which is burning through its cash reserves, is expected to finish its money at the end of this year.

Ferrovie and Atlantia have been in talks with both U.S. carrier Delta Air Lines Inc and, recently, with German airline Lufthansa.

Delta said it was ready to invest 100 million euros ($111 million) in the Italian carrier but sources had said it did not agree with Ferrovie and Atlantia over the development of the Italian carrier’s long-haul business.

On the other hand, Lufthansa said it was prepared to set up a commercial partnership with the Italian carrier but did not want to take a stake in the group before it has gone through a complete restructuring.

“We will not invest in current Alitalia, but we are interested being a commercial partner,” said Lufthansa CEO Carsten Spohr at an event in Berlin on Tuesday.

Italian daily La Repubblica on Tuesday said the airline could be nationalized for some years before being sold.

Analysts calculate that Italian taxpayers have spent more than 9 billion euros to support Alitalia, which has undergone two previous failed rescue attempts.

($1 = 0.9028 euros)

(Reporting by Francesca Landini; Additional reporting by Ilona Wissenbach in Berlin; Editing by Lisa Shumaker)

Emirates Airlines Orders 50 A350XWB at Dubai Airshow 2019

November 18, 2019 / WIL BALDWIN

Airbus and Emirates Airline have signed a purchase agreement for 50 A350-900s – Airbus’ newest generation widebody aircraft.

The order was signed at Dubai Airshow 2019 by His Highness Sheikh Ahmed bin Saeed Al Maktoum and Guillaume Faury, Airbus Chief Executive Officer.

HH Sheikh Ahmed said: “Today, we are pleased to sign a firm order for 50 A350 XWB’s, powered by Rolls-Royce Trent XWB engines. This follows a thorough review of various aircraft options and of our own fleet plans. It is Emirates’ long-standing strategy to invest in modern and efficient aircraft, and we are confident in the performance of the A350 XWB.

“Complementing our A380’s and 777’s, the A350’s will give us added operational flexibility in terms of capacity, range and deployment. In effect, we are strengthening our business model to provide efficient and comfortable air transport services to, and through, our Dubai hub.”

Sheikh Ahmed added: “This deal reflects our confidence in the future of the UAE’s aviation sector, and is a strong affirmation of Dubai’s strategy to be a global nexus connected to cities, communities and economies via a world-class and modern aviation sector.”

“We are honoured by Emirates’ strong vote of confidence in our newest widebody aircraft, taking our partnership to the next level. The A350 will bring unbeatable economics and environmental benefits to their fleet,” said Guillaume Faury, Airbus Chief Executive Officer. “We look forward to seeing the A350 flying in Emirates colours!”

The A350 XWB offers by design unrivalled operational flexibility and efficiency for all market segments – up to ultra-long haul (17,900km). Its Airspace by Airbus cabin is the quietest of any twin-aisle aircraft and offers passengers and crews the most modern in-flight flying experience. The aircraft features the latest aerodynamic design, a carbon fibre fuselage and wings, plus new fuel-efficient Rolls-Royce Trent XWB engines. Together, these latest technologies result in 25% lower operating costs, as well as 25% reduction in fuel burn and CO2 emissions compared with previous-generation competing aircraft – demonstrating Airbus’ commitment to minimise its environmental impact while remaining at the cutting edge of air travel.

Air Peace Signs a Firm Order for Three additional E195-E2 Jets

November 17, 2019 / WIL BALDWIN

Dubai, UAE, November 17th, 2019 – Embraer announced today, at the Dubai Air Show, that Air Peace, Nigeria and West Africa’s largest airline, has signed a contract for three additional E195-E2s, confirming purchase rights from the original contract, signed in April this year. These new E195-E2s will be included in Embraer’s 2019 fourth-quarter backlog and have a value of USD 212.6 million, based on Embraer’s current list prices.

Set to be the first E-Jets E2 operator in Africa, Air Peace’s firm order, announced in April this year, is now for 13 E195-E2s with 17 purchase rights for the same model. The first delivery is scheduled for the second quarter of 2020.

“The E195-E2 is the perfect aircraft to expand our operations in Africa and this new order is a further confirmation of our ‘no-city-left-behind initiative which we shall continue to execute”, said Air Peace Chairman/CEO, Mr. Allen Onyema. He added, “We are receiving impressive data about the aircraft’s economics now that is in revenue service, and this was a driver to place this new firm order with Embraer. We look forward to receiving our first aircraft, which will enhance connectivity in Nigeria and the African region, while feeding long-haul flights from our Lagos hub.”

“Air Peace will love the aircraft’s efficiency and the passenger will experience an unparalleled level of comfort, especially in first class – Air Peace is the launch customer for Embraer’s new premium staggered seating option”, said Raul Villaron, Vice President Sales, Africa and Middle East, Embraer Commercial Aviation. “We look forward to supporting Air Peace’s growing E2s fleet and to deepening our fruitful partnership.”

Air Peace subsidiary, Air Peace Hopper, started operating six ERJ145 jets last year on short thin routes. That experience with Embraer’s products and services, including the pool programme, and the undeniable economic benefits of right-sizing aircraft for the mission, was a key factor in selecting the E2.

Air Peace’s E195-E2s will be configured in a comfortable dual class arrangement with 124 seats. Air Peace operates more than 20 local, regional, and international routes and has strategic plans to expand those routes.

Embraer is the world’s leading manufacturer of commercial jets up to 150 seats. The Company has 100 customers from all over the world operating the ERJ and E-Jet families of aircraft. For the E-Jets program alone, Embraer has logged more than 1,800 orders and 1,500 deliveries, redefining the traditional concept of regional aircraft.

SBB’s New Double-Deck Train is Getting Better and Better

November 10, 2019 / WIL BALDWIN

Significant increase in reliability and ride comfort

The introduction of the new “FV-Dosto” double-deck long-distance train on the Swiss Federal Railways (SBB) route network is making significant and measurable progress. As the manufacturer Bombardier Transportation explained at its Swiss headquarters in Zurich, the reliability of the 25 trains available to the SBB has been increased by a factor of seven, and ride comfort has been substantially improved thanks to newly installed software. This and the train’s highly energy-efficient drive concept, also led to a significant improvement in punctuality on the routes operated with the FV-Dosto. With the help of software developed and adapted by Bombardier, it has been possible to reduce the previously noticeable vibrations, particularly in the upper decks of trains by up to 75 per cent, thereby substantially increasing ride comfort.

As Stéphane Wettstein, the Swiss Managing Director of Bombardier Transportation, explained, the technical reliability of the FV-Dosto trains used, once again significantly increased to 6,914 km of trouble-free operation in October. This corresponds to an improvement by a factor of seven over the last 11 months. Approximately 34 per cent of service disruptions are caused by operational and passenger-triggered incidents and accordingly affect the overall reliability of operations. Wettstein put the increase in the technical reliability of the trains down to the effectiveness of the agreed actions and the increasing mileage of the Dosto fleet, which has now covered a total of around 2.27 million kilometres. He is therefore confident that technical and operational reliability will continue to improve steadily. Since the timetable change in December 2018, around 75 per cent of the technical causes of disruptions have been eliminated.

Reliability and drive concept have a positive effect on punctuality

The greater reliability and increasing trouble-free availability of the trains also have a positive effect on the punctuality of the IR and IC services operated by the FV-Dosto. According to the surveys on the statistics website pünktlichkeit.ch, it is better in eastern Switzerland than in other parts of the country. This is not only due to higher reliability of the FV-Dosto trains, but also to their drive concept: unlike conventional trains, the FV-Dosto is not pulled or pushed by a locomotive, but driven by high energy-efficient and permanent magnet motors on the axles of the individual carriages. This allows long-distance trains to accelerate much faster, which positively contributes to timetable adherence.

Substantial improvement of ride comfort

In recent weeks, great progress has also been made in terms of ride comfort. With the new software installed in September 2019, it has been possible to eliminate the vibrations that used to be felt, mainly in the upper deck, to such an extent that some of them are now lower than in conventional double-deck trains. However, Stéphane Wettstein pointed out that, although Bombardier’s mechatronic bogies had been able to improve ride comfort, railway infrastructure, which also influences passengers’ level of comfort, has not gotten any better.

The technologically complex system for eliminating vibrations is based on stabilizing the carriage body in every driving situation, in such a way that the passenger feels less of the centrifugal forces in curves and changes of direction when passing over points than in conventional double-deck or tilting trains. While the ICN tilting train, which was also built by Bombardier as the consortium leader, tilts inwards in curves up to 7°, the FV-Dosto stays perpendicular to the track level. Together with the drive system and the pressure-tight carriage body, which prevents unpleasant pressure on the ears, especially when travelling through tunnels, this system is one of the major innovations of what is currently the world’s most modern long-distance train.

SBB already has 25 new trains

“The FV-Dosto is technologically a leading product in the industry in terms of its energy efficiency and the wide range of comfort it offers its passengers, even on a global scale – something Switzerland can be proud of, especially since important systems such as the traction or the bogies were developed in Switzerland and are largely manufactured in Switzerland,” says Swiss Managing Director of Bombardier Transportation Stéphane Wettstein.

Bombardier has now delivered a total of 25 of the FV-Dosto trains, which corresponds to SBB’s planning for the timetable change in 2019. By summer 2021, the entire fleet of (62) trains will have been delivered. The great public interest in the FV-Dosto has also prompted Bombardier to intensify communication regarding this high-tech train. The company has launched a website at swissdosto.ch which provides continually updated information on the introduction and operation of the train on the Swiss rail network.

Bombardier creates considerable value in Switzerland

Bombardier Transportation is one of the world’s largest manufacturers of public transport vehicles, mainly rail vehicles. The company is headquartered in Montreal, Canada and employs around 40,000 people around the world. More than 100,000 Bombardier vehicles are in service worldwide, carrying some 500 million passengers every day. In Switzerland, Bombardier’s roots go back some 120 years; many of the famous Swiss railway manufacturers from Secheron and MFO to BBC, ABB and Schindler Waggonbau to SLM have been combined under Bombardier over the decades. Today, around 870 employees work for Bombardier in Switzerland, 340 of them at the headquarters and global development centre in Zurich and 530 at the Villeneuve (VD) plant. Numerous Swiss suppliers are also involved in the development and production of the FV-Dosto, and their order volume accounts for around 50 per cent of the total external investment volume of CHF 600 million for the (62) ordered trains. After all, Bombardier is not only the supplier of FV-Dosto for SBB, but also of locomotives, technical services and the BOMBARDIER FLEXITYtram, which is already being used successfully in Geneva and Basel and the first of which will also be handed over to the Zurich public transport operator VBZ on November 15, 2019.

Boeing Delivers First P-8A Poseidon to United Kingdom’s Royal Air Force

November 10, 2019 / WIL BALDWIN

SEATTLE, Nov. 8, 2019 – Boeing [NYSE: BA] last week delivered the first of nine P-8A Poseidon maritime patrol aircraft (MPA) to the United Kingdom Royal Air Force (RAF). The United Kingdom is acquiring the multi-mission aircraft through the Foreign Military Sales process with the U.S. Navy. The P-8A Poseidon replaces the U.K.’s retired Nimrod aircraft.

Speaking to attendees at the delivery ceremony, Air Marshal Andrew Turner, deputy commander for Capability for the Royal Air Force, spoke of the “profound challenge” of enemy submarines threatening the U.K. and other nations. “P-8 is the key to solving this challenge on the surface, the sub-surface and in the waters of the North Atlantic. There is no place [for our enemies] to hide. We will make the oceans transparent and we will prevail.”

Boeing formally delivered the aircraft on Oct. 29 to the U.S. Navy during a ceremony at the Boeing Military Delivery Center in Tukwila, Wash. From Tukwila, the aircraft flew to the U.S. Navy’s Naval Air Station Jacksonville, Florida, where U.S. Navy leaders officially turn the aircraft over to the United Kingdom. At JAX, Royal Air Force crew will work with the aircraft before flying it to the United Kingdom in January 2020. All nine P-8A aircraft will be based at Lossiemouth, Scotland.

As part of a collaborative program with the U.S. Navy, pilots and maintainers from the United Kingdom’s RAF have been stationed at Naval Air Station JAX since 2012. Called “Project Seedcorn,” the arrangement has allowed RAF members to fly the P-8A with Patrol Squadron Thirty (VP-30), the Navy’s Maritime Patrol and Reconnaissance Fleet Replacement Squadron, to maintain their maritime patrol skills in advance of receiving the P-8A.

The P-8 is a long-range anti-submarine warfare, anti-surface warfare, intelligence, surveillance and reconnaissance aircraft capable of broad-area, maritime and littoral operations. In addition, the P-8 performs humanitarian and search and rescue missions around the globe.

IAG Ups Bet on Latin America with Air Europa Takeover

November 4, 2019 / WIL BALDWIN

* Buys Air Europa for 1 bln euros

* To be funded by external debt

* Shares rise more than 2%

* To be run by Iberia CEO

* Regulators may set requirements -analysts

Nov 4 (Reuters) – IAG, the parent of British Airways and Spain’s Iberia, announced a 1 billion euro ($1.12 billion) takeover of Spain’s Air Europa to boost its presence on routes to Latin America and the Caribbean.

The deal follows a setback in Latin America for IAG after Chile’s Supreme Court ruled against a plan that would have allowed it to bolster cooperation with partners in the oneworld airlines alliance.

**BA parent IAG ups bet on Latin America with Air Europa takeover**
Ryanair Chief Executive Michael O’Leary attends a Reuters Newsmaker event in London

Chile’s LATAM Airlines in September then announced it planned to leave the alliance, opting instead for a tie-up with SkyTeam member Delta Air Lines.

IAG shares initially rose more than 2% following the Air Europa takeover announcement but some analysts said IAG may have to shed routes in order to win regulatory approval.

IAG shares were up 1.2% at 1315 GMT.

Ryanair CEO Michael O’Leary said his company will ask the UK’s market watchdog to force IAG to make divestments as part of its Air Europa takeover, a deal he said would be bad for competition.

“Potential remedies, perhaps in the form of slot release or behavioural restrictions, may be required and these could impact the potential synergies,” an analyst at Liberum wrote in a note.

IAG also owns carriers Iberia Express, Level, Ireland’s Aer Lingus and Vueling.

“We are not convinced that having just another brand platform is the optimal move, and could see it potentially combining with Level, Vueling or potentially Iberia Express after some time,” analysts at Bernstein said.

FILE PHOTO: An Air Europa-branded Boeing 737 MAX aircraft is seen grounded at a storage area in an aerial photo at Boeing Field in Seattle

Air Europa serves 69 destinations, including long-haul routes to the Americas and the Caribbean. It had a fleet of 66 aircraft at the end of 2018.

Air Europa’s Spanish parent company Globalia earlier this year received authorisation from the Brazilian government to explore the possibility of flying domestic routes within Latin America’s largest economy.

It is unclear if that authorisation will remain with Globalia or be transferred to IAG.

Air Europa will initially keep its brand and as it gets integrated into the existing hub at Madrid it will be a standalone operation run by Iberia boss Luis Gallego, IAG said.

It will also withdraw Air Europa from the SkyTeam alliance once the deal is completed. Air Europa has a joint venture with Air France-KLM.

“This is of strategic importance for the Madrid hub, which in recent years has lagged behind other European hubs,” said Gallego, adding that Madrid had the potential to serve as a gateway between Asia and Latin America.

IAG said it expected the Air Europa deal, which will be funded through external debt, to close in the second half of next year and for it to add to its earnings in the first full year after the closure.

($1 = 0.8951 euros) (Reporting by Yadarisa Shabong in Bengaluru; additional reporting by Andres Gonzalez in Madrid and Marcelo Rochabrun in Sao Paulo, editing by Patrick Graham and Jason Neely)