HONG KONG (Reuters) – Shares of Cathay Pacific Airways rose more than 2 percent early on Monday after CEO Rupert Hogg resigned in a shock move, as the carrier grapples with the involvement of some of its employees in the city’s anti-government protests.
Cathay’s shares rose as much as 2.3 percent to HK$10.84, their highest in two weeks. The carrier has emerged as the highest-profile corporate target as Beijing looks to quell protests in the territory that have gone on for 11 straight weeks.
Cathay Pacific was blindsided this month when China’s aviation regulator demanded it suspend staff supporting the anti-government protest movement.
(Reporting By Anne Marie Roantree and Donny Kwok; editing by Richard Pullin)
Southwest Airlines Co. (NYSE: LUV), in partnership with Discovery Channel, launched a campaign bringing the fun of Shark Week to flying fans this summer. The carrier is celebrating Shark Week throughout July, ahead of Shark Week on Discovery beginning Sunday, July 28.
“Our Shark Week partnership brings fun through unique offerings for our Customers and Employees,” said Brandy King, Director of External Communication who oversees the airline’s Brand Partnerships and Entertainment Public Relations initiatives. “Whether on the ground with augmented reality experiences and gate games hosted by our Employees, to inflight exclusive content on our Shark Week On-Demand Channel, or through our social channels with engaging content and a special sweepstakes, we’ll be celebrating Sharks all month.”
Southwest brings Shark Week to fans through all phases of travel and, this year, extends the immersion straight into their homes. Through an augmented reality experience, Shark Week fans engaging with Southwest through the carrier’s social channels and in airports across the country will be encouraged to “swim with sharks” by using the augmented reality experience, accessible via swa.is/sharkweek. Fans can download a filter on their cell phones to select from the five most-popular sharks featured in Shark Week programming (Great White Shark, Hammerhead Shark, Mako Shark, Tiger Shark, and Bull Shark) to swim across their screens, and share a photo or video of the experience to their social channels using #SharksTakeFlight.
Customers traveling this summer will be able to experience the fun of Shark Week in a variety of ways. While inflight, Customers can enjoy jawsome content via the Onboard Entertainment Portal’s custom Shark Week TV Series Channel. The Shark Week TV Series Channel houses a library of Shark Week episodes that Customers can sink their teeth into, plus a never-before-seen episode, Extinct or Alive: The Lost Shark, which Customers can watch nearly 30 days ahead of its premiere during Shark Week. The feeding frenzy continues as Southwest Customers tune in to Shark Week on Discovery Channel beginning Sunday, July 28, and continuing through Sunday, August 4, via Live TV onboard Southwest WiFi-equipped flights.
Southwest Employees also are getting in on Shark Week fun! Beginning July 8, Employees in 40 Southwest airports will display Shark Week materials in gate areas with which Customers can interact. Delivering on Southwest’s legendary Customer Service and Hospitality, Southwest Employees will host gate games to entertain fliers and celebrate the 31st anniversary of Shark Week, one of the most popular and longest-running televised summer events in history.
For fans who want to experience a diving excursion, Southwest is hosting a Dare to Dive sweepstakes from July 1-31 giving a chance to land a trip to Nassau, Bahamas, to enjoy a diving experience*. Anyone may visit Southwest.com/sharkweek for a chance to win roundtrip air travel (does not include taxes and fees of at least $5.60 per one-way flight) for winner and three guests, a $3,000 gift card to The Island House, a boutique hotel, and a $375 gift card to Stuart Cove’s for a diving excursion.
One of the most popular and longest-running televised summer events, Shark Week has celebrated cartilaginous creatures for more than 30 years. This year, viewers can enjoy hours of new content that will answer some of your most pressing shark-related questions. This year’s programming will immerse fans in the lives of sharks all around the world, from the Caribbean Sea to the island of Guadalupe, and many places in between.
*NO PURCHASE NECESSARY TO ENTER OR WIN. A PURCHASE WILL NOT INCREASE YOUR CHANCES OF WINNING. Void where prohibited. Open to legal residents of 50 United States and the District of Columbia, excluding Alaska, age 19 years or older at time of entry. Limit one entry per person per day. All fields must be completed. Approximate retail value of prize: $4,975.00. For complete details and Official Rules, visit http://www.southwest.com/sharkweek. By submitting an entry, you agree to the Official Rules. By entering, information collected will be used in accordance with Sponsor’s Privacy Policy at Southwest.com. Sponsor: Southwest Airlines Co., 2702 Love Field Dr. Dallas, TX 75235. Enter by July 31, 2019 at 11:59 p.m. E.T. Air travel does not include taxes and fees of at least $5.60 per one-way flight.
MHI now positioned to transform and lead the underserved regional jet business, with bolstered customer support services
Key step in MHI’s strategy of expanding its aircraft business globally, with a mid-term focus on North America
Completes Bombardier’s aerospace transformation and refocus on business aviation
Mitsubishi Heavy Industries, Ltd (MHI) (TOKYO:7011) and Bombardier Inc (TSX: BBD.B) announced today they have entered into a definitive agreement, whereby MHI will acquire Bombardier’s regional jet program for a cash consideration of $550 million USD, payable to Bombardier upon closing, and the assumption by MHI of liabilities amounting to approximately $200 million USD. Under the agreement, Bombardier’s net beneficial interest in the Regional Aircraft Securitization Program (RASPRO), which is valued at approximately $180 million USD, will be transferred to MHI.
Pursuant to the agreement, MHI will acquire the maintenance, support, refurbishment, marketing, and sales activities for the CRJ Series aircraft, including the related services and support network located in Montréal, Québec, and Toronto, Ontario, and its service centres located in Bridgeport, West Virginia, and Tucson, Arizona, as well as the type certificates.
This acquisition is complementary to MHI’s existing commercial aircraft business, in particular the development, production, sales and support of the Mitsubishi SpaceJet commercial aircraft family. The maintenance and engineering capabilities of the CRJ program will further enhance critical customer support functions, a strategic business area for MHI in the pursuit of future growth.
Seiji Izumisawa, President & CEO of Mitsubishi Heavy Industries Ltd., commented: “As we outlined during the recent Paris Air Show, we are working hard to ensure that we provide new profit potential for airlines and set a new standard for passenger experience. This transaction represents one of the most important steps in our strategic journey to build a strong, global aviation capability. It augments these efforts by securing a world-class and complementary set of aviation-related functions including maintenance, repair and overhaul (MRO), engineering and customer support.”
Izumisawa concluded, “The CRJ program has been supported by tremendously talented individuals. In combination with our existing infrastructure and resources in Japan, Canada and elsewhere, we are confident that this represents one effective strategy that will contribute to the future success of the Mitsubishi SpaceJet family. MHI has a decades-long history in Canada, and I hope this transaction will result in the expansion of our presence in the country, and will represent a significant step in our growth strategy.”
“We are very pleased to announce this agreement, which represents the completion of Bombardier’s aerospace transformation,” said Alain Bellemare, President and Chief Executive Officer, Bombardier Inc. “We are confident that MHI’s acquisition of the program is the best solution for airline customers, employees and shareholders. We are committed to ensuring a smooth and orderly transition.”
Bellemare continued: “With our aerospace transformation now behind us, we have a clear path forward and a powerful vision for the future. Our focus is on two strong growth pillars: Bombardier Transportation, our global rail business, and Bombardier Aviation, a world-class business jet franchise with market-defining products and an unmatched customer experience.”
The CRJ production facility in Mirabel, Québec will remain with Bombardier. Bombardier will continue to supply components and spare parts and will assemble the current CRJ backlog on behalf of MHI. CRJ production is expected to conclude in the second half of 2020, following the delivery of the current backlog of aircraft.
Bombardier will also retain certain liabilities representing a
portion of the credit and residual value guarantees totaling
approximately $400 million USD. This amount is fixed and not subject to
future changes in aircraft value, and payable by Bombardier over the
next four years.
The transaction is currently expected to close during the first half of 2020 and remains subject to regulatory approvals and customary closing conditions.
The agreement contemplates a reverse break fee payable by MHI under certain circumstances.
About MHI
Mitsubishi Heavy Industries, Ltd. (MHI), headquartered in Tokyo, is one of the world’s leading industrial firms with 80,000 group employees and annual consolidated revenues of around US$38 billion. For more than 130 years, the company has channeled big thinking into innovative and integrated solutions that move the world forward. MHI owns a unique business portfolio covering land, sea, sky and even space. MHI delivers innovative and integrated solutions across a wide range of industries from commercial aviation and transportation to power plants and gas turbines, and from machinery and infrastructure to integrated defense and space systems.
With over 68,000 employees, Bombardier is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Our products and services provide world-class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.
Headquartered in Montreal, Canada, Bombardier has production and engineering sites in 28 countries as well as a broad portfolio of products and services for the business aviation, commercial aviation and rail transportation markets. Bombardier shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2018, Bombardier posted revenues of $16.2 billion US. The company is recognized on the 2019 Global 100 Most Sustainable Corporations in the World Index. News and information are available at bombardier.com or follow us on Twitter @Bombardier.
Bombardier and CRJ are trademarks of Bombardier Inc. or its subsidiaries
ATLANTA, May 1, 2019 /PRNewswire/ — ExpressJet Airlines, a United Express carrier, this week took delivery of its first of 25 new Embraer E175 aircraft in a handover ceremony at the Embraer factory and delivery center in São José dos Campos, Brazil.
“The delivery of our first E175 represents a significant milestone in ExpressJet’s growth as an exclusive United Express carrier,” said Chairman and CEO Subodh Karnik. “I want to express my gratitude to our partners at Embraer and United Airlines as well as to the ExpressJet employees who have worked tirelessly over the past six months to make this day a reality.”
ExpressJet will take delivery of new E175’s through the remainder of 2019. Houston’s George Bush Intercontinental Airport (IAH) will serve as the airline’s first E175 base, with a second base location to be announced soon.
To support its E175 fleet growth, ExpressJet is hiring more than 600 new pilots in 2019. Pilots who sign on with ExpressJet can expect a quick selection process, an immediate class date, and to bid for flying within three months. Pilots interested in signing on with ExpressJet should apply at expressjet.com/pilots or airlineapps.com.
About ExpressJet Airlines ExpressJet Airlines operates as United Express, on behalf of United Airlines (UAL), to serve more than 100 airports across the United States, Canada and Mexico, with over 3,300 weekly flights from bases in Chicago, Cleveland, Houston and Newark. ExpressJet’s fleet includes more than 110 Embraer ERJ145 and Bombardier CRJ200 aircraft, with 25 new Embraer E175’s being added in 2019. ExpressJet pilots enjoy top-tier pay and quality of life and a career path to United Airlines. ExpressJet is a subsidiary of ManaAir, LLC. For further information, contact 404-856-1199, corpcomm@expressjet.com.
CHICAGO
(Reuters) – Southwest Airlines Co’s mechanics, who have been in labor
contract talks for more than six years, deserve a new deal that makes
them among the best paid in the airline industry, but the low-cost U.S.
carrier needs “more supplier flexibility” in return, the company’s chief
executive said.
The
labor dispute, one of the biggest to hit a top-four U.S. airline in
more than a decade, has escalated with Southwest’s daily out-of-service
aircraft doubling, forcing the carrier to cancel hundreds of flights
since Feb. 15.
Southwest
CEO Gary Kelly in an email to the company’s employees acknowledged the
company was “in a period of tension and turmoil” regarding the
out-of-service aircraft. Reuters obtained a copy of the email late
Friday.
Kelly
said the mechanics deserve a new contract and pointed out that the deal
the mechanics voted down last year would have made those workers the
highest paid in the industry. He said current talks offer the
opportunity to offer even higher pay with no impact on job security “in
exchange for more supplier flexibility.”
Southwest
already outsources the majority of heavy maintenance work, such as
scheduled engine repairs, to external suppliers, but wants the option to
send more scheduled maintenance abroad in order to fund compensation
increases. The change would not affect the kind of work currently
handled by its mechanics, a Southwest spokesman said.
Officials
with the Aircraft Mechanics Fraternal Association (AMFA), which
represents about 2,400 Southwest mechanics and has been in contract
talks with management since 2012, could not immediately be reached to
comment on Saturday.
The
union has disputed the notion that the maintenance issues are driven by
the labor dispute, pointing out the company has the lowest
mechanic-to-aircraft ratio of any major carrier.
In
a Friday email to its members, the union rejected the company’s
assertion that the maintenance issues were a job action and said
mechanics should not allow themselves to be pressured to ignore safety
or mechanical issues with a plane.
“If
you feel you are being pressured to disregard aircraft damage or
shortcut the manuals, then let your airline representative know of such
threats,” union national director Bret Oestreich said in the email. “But
do not get baited into acts of defiance that will be characterized as
insubordination.”
Flights
by Southwest accounted for more than a third of 777 U.S. cancellations
between Friday and Saturday, according to FlightAware.com.
(Reporting by Tracy Rucinski in Chicago, Additional reporting by Ben Klayman in Detroit; Editing by Andrea Ricci)
