Tag: Italian (Page 2 of 4)

Ryanair Suspends All Italian Flights Until Wednesday April 8

March 10, 2020 / WIL BALDWIN

– Government extends restrictions to all of Italy

Ryanair today (Tues 10 Mar) announced the suspension of its full flight schedule to/from and within Italy, following the decision of the Italian Government to “lock down” the entire country to contain the spread of the Covid-19 virus.

These additional cuts will be implemented as follows:

From 24:00hrs Weds 11 Mar until 24:00hrs Wed 8 Apr, Ryanair will suspend all Italian domestic flights.
From 24:00hrs Fri 13 Mar until 24:00hrs Wed 8 Apr, Ryanair will suspend all Italian international flights.

All affected passengers have received email notices today informing them of these flight cancellations. Passengers looking for repatriation can obtain a free move to an earlier Ryanair flight operating up until midnight Fri 13 Mar. Affected passengers will be able to choose between a full refund or a travel credit that can be redeemed on Ryanair flights in the next 12 months.

Ryanair continues to comply fully with WHO and national Government guidance and travel bans. The situation is changing on a daily basis, and all passengers on flights affected by travel bans or cancellations, are receiving emails and are being offered flight transfers, full refunds or travel credits.

Ryanair apologises sincerely to all customers for these schedule disruptions, which are caused by national Government restrictions and the latest decision of the Italian Government to lock down the entire country to combat the Covid-19 virus.

SWISS Welcomes its First Airbus A320neo

February 24, 2020 / WIL BALDWIN

SWISS took delivery today of the first of 25 new aircraft of the Airbus A320neo family. The new arrival was formally welcomed to the fleet and named “Engelberg” in a ceremony at Zurich Airport. In acquiring these advanced and efficient short- and medium-haul aircraft, SWISS is further underlining its commitment to resource-friendly aviation. With its innovative engine technologies, the Airbus A320neo consumes some 20 per cent less fuel than comparable aircraft of the older generation. SWISS’s new Airbus A320neo also features a newly developed seat that tangibly enhances its passengers’ travel comfort.

The first Airbus A320neo of Swiss International Air Lines (SWISS) landed in Zurich at 10:57 today. The aircraft, which bears the registration HB-JDA, arrived directly from Airbus’s Hamburg-Finkenwerder works airport in northern Germany. SWISS will be receiving a total of 25 new aircraft of the Airbus A320neo family (the “neo” stands for “New Engine Option”) between now and the end of 2024: seventeen A320neos and eight of the larger A321neo version. The new twinjets will replace older Airbus A320 family aircraft in the SWISS fleet’s ranks and, with their innovative powerplant technology, will help substantially further enhance SWISS’s environmental efficiency.

After arriving in Zurich, the latest member of the SWISS aircraft fleet was formally welcomed in the hangar area by a delegation of invitees from the political, business and media worlds, and was also named “Engelberg”. The naming was jointly performed by Alex Höchli, the mayor of the Central Swiss mountain resort, and Brother Meinrad Haberl of Engelberg Monastery.

Lower fuel consumption and lower noise emissions

Thanks to the advanced technology of its Pratt & Whitney engines and its aerodynamic “sharklet” wingtip extensions, the Airbus A320neo consumes up to 20 per cent less fuel than comparable aircraft types. The new twinjets are also equipped as standard with noise-reducing vortex generators. As a result, a departing Airbus A320neo has a noise footprint on takeoff which is around half the size of the footprint produced by a comparable aircraft type.

“Our new Airbus A320neo family aircraft will substantially further reduce the average age of the SWISS aircraft fleet,” says SWISS CEO Thomas Klühr. “Once they are all delivered, our aircraft’s average age will be one of the youngest in Europe at around nine years. These billion-franc investments will further enhance our environmental credentials, too,” Klühr continues, “because operating an advanced and fuel-efficient aircraft fleet is one of the most effective means of all of reducing the ecological impact of aviation activities.”

An innovative seat for greater travel comfort

The new SWISS Airbus A320neo also offers substantially more travel comfort to both Business and Economy Class passengers, thanks to its newly-developed seats from Italian manufacturer Geven. With their ergonomic pressure distribution over the backrest and the seat cushion, the new seats deliver a tangibly pleasanter sitting experience. And the innovative horizontal placement of the literature pocket above the seat table also provides more personal space.

It’s not just aloft, either, that passengers will enjoy an even more comfortable flight: the new seats can be reclined to 20 degrees (instead of the previous 12) during the taxi, takeoff and landing phases. And Business Class travellers can even recline their seat to a full 26 degrees during the cruise phase of flight.

SWISS will be deploying its Airbus A320neos on its short- and medium-haul routes of up to 4,200 kilometres within Europe and to and from destinations in North Africa and the Middle East. The Airbus A320neo accommodates 180 passengers in Business and Economy Class.

Italy Tax Authorities Say Fiat Underestimated Value of Chrysler by $5.6 Billion

December 4, 2019 / WIL BALDWIN

MILAN (Reuters) – Italian tax authorities believe that Fiat Chrysler Automobiles <FCAU> underestimated the value of its U.S. business by 5.1 billion euros following Fiat’s phased acquisition of Chrysler, according to a company filing and a source close to the matter.

The audit, which concerns transactions dating back to 2014, could result in FCA having to pay back taxes for $1.5 billion, the source added, confirming a report by Bloomberg.

FCA said in its third-quarter report that the tax authorities had issued to the company a final audit report in October this year “which, if confirmed in the final audit assessment, could result in a material proposed tax adjustment related to the October 12, 2014 merger of Fiat SpA into FCA NV.”

It said the issuance of a final audit report starts a 60-day negotiation period, which ends with the issuance of a final audit assessment expected to be received by the end of December 2019.

“The company believes that its tax position with respect to the merger is fully supported by both the facts and applicable tax law and will vigorously defend its position,” it said in the third-quarter report.

A spokesman for Italy’s tax agency declined to comment.

“At this time, we cannot predict whether any settlement may be reached or if no settlement is reached, the outcome of any litigation. As such, we are unable to reliably evaluate the likelihood that a loss will be incurred or estimate a range of possible loss,” Fiat said.

News of the tax probe comes at a delicate time for Fiat Chrysler, which is finalizing talks with PSA, the maker of Peugeot and Citroen, over a planned $50 billion merger to create the world’s fourth-largest automaker.

(Reporting by Silvia Aloisi in Milan; Editing by Anil D’Silva)

Logo of car manufacturer Fiat is seen in Zurich

Fiat Chrysler Reaches Tentative Labor Deal with United Auto Workers

December 1, 2019 / WIL BALDWIN

DETROIT (Reuters) – Fiat Chrysler Automobiles NV and the United Auto Workers (UAW) union on Saturday announced a tentative agreement for a four-year labor contract, a boost for the automaker as it works to merge with France’s Groupe PSA.

Italian-American Fiat Chrysler and PSA, the maker of Peugeot and Citroen, last month announced a planned $50 billion merger to create the world’s fourth-largest automaker.

The tentative agreement with Fiat Chrysler, which is subject to ratification by the union members, follows contracts that the UAW already concluded with Ford Motor Co and General Motors Co.

The deal with GM followed a 40-day strike in the United States that virtually shuttered GM’s North American operations and cost the automaker $3 billion.

The UAW on Saturday said the contract with Fiat Chrysler included a commitment from FCA to invest $9 billion, creating 7,900 new jobs over the course of the four-year contract. Of the $9 billion, $4.5 billion was announced earlier this year, to be invested in five plants and creating 6,500 jobs.

Detailed terms of the tentative agreement were not released, but they are expected to echo those under the new contracts with GM and Ford, as the UAW typically uses the first deal as a pattern for the others.

“FCA has been a great American success story thanks to the hard work of our members,” UAW acting President Rory Gamble said in a statement. “We have achieved substantial gains and job security provisions for the fastest growing auto company in the United States.”

Ratification is not a sure thing. Rank-and-file UAW members at FCA in 2015 rejected the first version of a contract. In addition, a lawsuit related to a federal corruption probe could also raise doubts among union members about the terms agreed.

The federal corruption led GM to file a racketeering lawsuit against FCA, alleging that its rival bribed union officials over many years to corrupt the bargaining process and gain advantages, costing GM billions of dollars. FCA has brushed off the lawsuit as groundless.

Under the UAW’s deal with GM, the automaker agreed to invest $9 billion in the United States, including $7.7 billion directly in its plants, and to create or retain 9,000 UAW jobs.

Ford’s contract included commitments to invest more than $6 billion in its U.S. plants and to create or retain more than 8,500 UAW jobs.

The deals with GM and Ford also created a pathway to full-time employment for temporary workers and left healthcare insurance coverage unchanged.

Both automakers also agreed to signing bonuses, with $9,000 for full-time Ford workers and $11,000 for workers at GM.

(Reporting by Nick Carey; Editing by Leslie Adler)

FILE PHOTO: FCA’s Manley and Elkann speaks at the North American International Auto Show in Detroit, Michigan

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)

Alstom Begins Delivery of New Regional Trains to Veneto and Liguria in Italy

November 13, 2019 / WIL BALDWIN

Alstom has delivered the first Coradia Stream “Pop” trains destined for operation in Italian regions of Veneto and Liguria. The trains are part of the framework agreement signed in 2016 between Alstom and Trenitalia for a total of 150 new medium-capacity regional trains. Veneto will receive a total of 31 trains, Liguria 15. Deliveries will continue at a rapid pace into 2020.

14 Coradia Stream trains are already in passenger service in Emilia Romagna, the first region to have placed a firm order under the 2016 agreement.

The new trains are part of a wider relaunch plan initiated by Trenitalia (FS Italian Group) to develop regional transport. This plan foresees a total investment of around €6 billion for 600 new trains, lead to the renewal of 80% of the fleet within 5 years. Due to the number of trains and its value, it is an unprecedented project for Italy.

The Coradia Stream, dubbed “Pop” by the Italian customer, is a single-deck electric multiple unit (EMU) designed for regional lines. It represents the latest generation of the Coradia family of trains. It can transport 300 passengers seated, has a top speed of 160 km/h, and offers easy accessibility thanks to its low floor. Designed to be eco-friendly, Coradia Stream consumes 30% less energy than previous train generation.

“Over the past 15 years, more than 412 regional trains have been designed, produced and put into commercial service by Alstom in Italy. To these figures, we will gradually grow the Pop fleet. We are proud to have been chosen by Veneto and Liguria, and to support Trenitalia in this major project to improve regional and intercity transport throughout the country,” said Michele Viale, Managing Director of Alstom in Italy and Switzerland.

The Coradia Stream trains are manufactured by Alstom in Italy. Project development, most of the manufacturing and certification are performed at Alstom’s site in Savigliano (CN). Design and manufacturing of the traction systems and other components takes place at the Sesto San Giovanni (MI), and the on-board signalling systems are delivered by the Bologna site.

Alitalia Administrators Neutral on Delta, Lufthansa Offers

November 6, 2019 / WIL BALDWIN

MILAN, Nov 6 (Reuters) – Alitalia’s administrators said they had no preferred option between Delta Air Lines and Lufthansa, the two groups talking with rail operator Ferrovie dello Stato about a rescue for the troubled Italian carrier.

Ferrovie, which is leading a state-orchestrated effort to rescue Alitalia, will have to choose between the two foreign carriers in the next weeks as the financial performance of Alitalia was deteriorating, the administrators said.

“We do not have any preference about the industrial partner for Alitalia, we are unbiased,” Daniele Discepolo, one of the three administrators in charge of the airline told a parliamentary hearing.

Delta and Lufthansa belong to rival respective airline alliances and are both interested in the lucrative Italian market, one of the world’s top tourism destinations which is seeing good growth in foreign visitors.

Lufthansa wrote to Ferrovie recently offering a commercial partnership with Alitalia and saying it could take a stake in the carrier under certain conditions to be agreed with other partners.

The German carrier, however, has so far refrained from indicating precisely how much it was prepared to pay and under what conditions. In the letter Lufthansa only said it could invest more than Delta, which, so far, has committed around 100 million euros ($111 million) for Alitalia.

Discepolo and fellow administrators Enrico Laghi and Stefano Paleari said the government’s planned grant of a fresh 400 million euros bridge loan was needed to keep Alitalia’s airplanes flying until the rescue was successfully finalised.

The state has already granted a 900 million euro loan for the carrier and analysts calculate that Italian taxpayers have spent more than 9 billion euros to support Alitalia, which has undergone two previous failed rescue attempts.

Paleari said Alitalia’s earnings before interest, tax, depreciation and amortisation (EBITDA) were negative to the tune of 164 million euros in the first half of this year, worsening from a 124 million euro loss in the same period last year partly due to higher fuel costs.

($1 = 0.9020 euros)

(Editing by Susan Fenton)

Alitalia Set for Temporary Reprieve as Rescue Deadline Nears

October 14, 2019 / WIL BALDWIN

MILAN, Oct 14 (Reuters) – Alitalia is set to win a temporary lifeline on Tuesday, when its latest rescue deadline expires, with toll road operator Atlantia expected to give a conditional green light to hundreds of millions of euros of investment, according to two people close to the situation.

The future of the troubled Italian carrier remains in doubt with no binding offer and no clear business plan in sight but it should avoid an immediate liquidation after the expiry of the Oct. 15 deadline set by the industry ministry.

Atlantia, which is controlled by Benetton family, has been in talks since July over taking part in a government-orchestrated rescue of the airline, together with railway group Ferrovie dello Stato, the treasury and Delta Air Lines.

“Atlantia is expected to give its commitment to invest in Alitalia subject to several conditions,” one of the sources said. But issues that still cause concern range from potential antitrust problems, treatment of state aid under European Union rules, the cost of possible redundancies and the future of the carrier’s long-haul routes, the source said.

Oct. 15 is the latest in a series of deadlines set for Ferrovie and potential partners in a rescue for Alitalia, which has been under special administrators since May 2017 and needs new funds to continue flying.

The board of Atlantia, which runs Rome’s airports through its Aeroporti di Roma unit, is expected to approve a preliminary commitment to the Alitalia rescue on Tuesday, the sources said.

The rescue plans include potential investment of a total of around 1 billion euros in the carrier, which has cut costs under the special administrators but still burns cash and had only 310 million euros left at the end of September.

Atlantia is expected to invest some 300 million euros, depending on commitments from other partners.

A second source said more time was needed to iron out a complete business plan for Alitalia. Possible involvement by Delta Air Lines or Germany’s Lufthansa AG is still under discussion.

A third source said Atlantia, Ferrovie and other potential partners were under pressure from Italy’s Industry Ministry to present a binding bid and take control of the carrier which in the past two years has already received 900 million euros from the state to stay afloat.

Atlantia’s participation in the rescue was put in doubt this month when it wrote to the Industry ministry, urging a radical overhaul of the Alitalia plan if talks were to go ahead.

(Reporting by Francesca Landini, Stefano Bernabei, Giuseppe Fonte. Editing by Jane Merriman)

An Alitalia Airbus A320 takes off on September 26, 2017 from Toulouse-Blagnac airport in southwestern France. / AFP PHOTO / PASCAL PAVANI

Italian Government Asks Delta To Do The Right Thing

September 28, 2019 / WIL BALDWIN

The Italian government is begging U.S. major Delta Air Lines, Inc. (NYSE: DAL) to up the proposed acquisition of a 10% stake in Alitalia for $100 million to at least 15%, according to a report in Italian media.

Loss-making Alitalia has been seeking new investors for more than two years after going into administration in May 2017 after workers rejected a plan to cut jobs and salaries. Successive Italian governments have had to balance the carrier’s massive losses with the need to placate a heavily unionized workforce.

Click the link for the full story! https://finance.yahoo.com/news/italian-government-asks-delta-thing-205301072.html

Lexus Premieres New Luxury Yacht

September 25, 2019 / WIL BALDWIN

New embodiment of Lexus’ commitment to deliver innovative and amazing experiences
Expressing the Lexus design language a new in the form of a 65‑foot yacht
Exceptional performance and quietness befitting a maritime flagship
An extraordinary user experience created by advanced technology
High-quality craftsmanship and Toyota Production System built-in quality

Boca Raton, Fla. (September 19, 2019)— In its continuing challenge to deliver innovative and amazing experiences to its customers, Lexus held the world premiere of its first luxury yacht, the Lexus LY 650, today in Boca Raton.

The LY 650 is a new embodiment of Lexus’ challenge to go beyond the automobile to deliver innovative and amazing experiences. Based on the Lexus Sport Yacht Concept first shown in January 2017, the LY 650 features unique styling and superb cruising performance. Lexus – which aspires to be a true luxury lifestyle brand – has fused advanced technology and craftsmanship to provide an irreplaceable experience that stimulates the senses and exceeds owner expectations, even at sea. This LY 650 flagship yacht is the new embodiment of the Lexus “CRAFTED” philosophy, to which exquisite attention to detail and anticipatory hospitality are applied in every possible aspect.

The shape of the hull, the abundant volume of the stern, and other elements, in addition to beautiful curved lines, give the LY 650 unprecedented and distinctive exterior styling. Collaboration with Italian yacht design studio Nuvolari Lenard*¹ has resulted in an advanced design and a comfortable interior living space that exemplifies high quality in every detail. Furthermore, in pursuit of cruising that achieves the exhilarating performance of a Lexus, the yacht rides on a light and highly rigid composite hull that combines CFRP (carbon fiber-reinforced plastic) and GFRP (glass fiber-reinforced plastic), and was jointly developed with Marquis Yachts LLC*². Additionally, the LY 650 is equipped with LY-Link, an advanced connectivity technology for boating that shares timely information and provides control of various yacht functions.

The LY 650 is built in collaboration with the craftspeople of Marquis Yachts in Pulaski, Wisconsin, USA. With the start of LY 650 manufacturing, Marquis Yachts has applied the famous Toyota Production System in its production processes to improve production efficiencies and quality. The new yacht will appear at the Fort Lauderdale International Boat Show in Florida Oct. 30 – Nov. 3, 2019.

President Akio Toyoda commented: “The LY 650 symbolizes the challenge taken by Lexus, which aspires to be a true luxury lifestyle brand, to venture beyond the automobile. A collaborative team between Toyota and Marquis Yachts introduced the Toyota Production System to the boat manufacturing facility to improve productivity and quality. This allowed the Lexus “CRAFTED” philosophy of anticipatory hospitality and meticulous attention to detail to become a reality in the form of a luxury yacht. I am truly looking forward to seeing the advanced, high quality LY650 display its beauty on the oceans across the globe. As a mobility company, we are pursuing new possibilities for mobility even on the sea.”

Click the link for the full story! https://pressroom.lexus.com/lexus-premieres-new-luxury-yacht-new-embodiment-of-lexus-commitment-to-deliver-innovative-and-amazing-experiences/

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