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.
WestJet and Delta Air Lines today announced that their proposed U.S. – Canada transborder joint venture has received clearance under Canada’s Competition Act from the Canadian Competition Bureau. The CCB issued a no-action letter confirming that it does not intend to challenge the proposed joint venture agreement between WestJet and Delta Air Lines.
“Today’s clearance by the CCB is an important step towards satisfying the conditions necessary to implement the proposed WestJet-Delta transborder joint venture,” said Ed Sims, WestJet President and CEO. “We thank the CCB for its timely and thorough review. The joint venture will lead to more consumer choice, connectivity, and economic benefits on both sides of the border by growing U.S.-Canada business and tourism travel.”
Ed Bastian, Delta’s CEO, said, “This significant achievement brings us closer to implementing a joint venture that provides a world-class experience for customers travelling between the U.S. and Canada. The joint venture between Delta and WestJet will create an expanded network with more frequencies and destinations, improved airport connections and significantly enhanced frequent flyer benefits.”
The proposed joint venture between the two airlines is still subject to regulatory approval from the U.S. Department of Transportation.
Upon receipt of all regulatory clearances or approvals in the U.S., the new joint venture will enable Delta and WestJet to deepen their existing partnership with expanded codesharing, reciprocal elite frequent flyer benefits, optimized growth across the U.S.-Canada transborder networks, and co-location at key hubs with initiatives designed to deliver a more seamless guest experience. The partners will also begin implementing joint sales and marketing activities and increase belly cargo cooperation.
Further information about WestJet and Delta Air Lines is available at westjet.com and delta.com.
May
31 (Reuters) – Malaysian low-cost carrier AirAsia is in negotiations to
buy a proposed new longer-range version of the best-selling Airbus A321
passenger jet, two people familiar with the matter said.
Airbus has begun tying up customers for the A321XLR ahead of a possible formal announcement of the modified version at the Paris Airshow in June, though the timing of any deal between Airbus and AirAsia remains unclear.
Airbus declined to comment. AirAsia was not available for comment.
(Reporting by Tim Hepher; editing by Richard Lough)
HAIFA, Israel, April 5, 2019 /PRNewswire/ — Elbit Systems Ltd. (ESLT) (ESLT) (“Elbit
Systems”) announced today that its U.S. subsidiary, Elbit Systems of
America, LLC (“Elbit Systems of America”), has signed a definitive
agreement with Harris Corporation (HRS) (“Harris”) for the acquisition of Harris’ Night Vision business (“Harris Night Vision”) for a purchase price of $350 million.
The transaction is conditioned on completion of Harris’ proposed merger with L3 Technologies, Inc. (LLL), as well as customary closing conditions, including receipt of regulatory approvals.
Headquartered in Roanoke, Virginia,
Harris Night Vision is a premier developer, producer and supplier of
night vision technology for the U.S. and allied military and security
forces and for the federal homeland security market.
Bezhalel (Butzi) Machlis, Elbit Systems President & CEO, commented:
“The market position and technological strength of Harris Night Vision
make this acquisition significant to our long-term growth strategy, with
a particular focus on the U.S. Elbit Systems of America has a proven
track record of providing high performance solutions and support
services to the U.S. defense and homeland security markets. We believe
that the completion of this acquisition will be beneficial both for
Elbit Systems and for Harris Night Vision’s employees and customers.”
About Harris Corporation
Harris
Corporation is a leading technology innovator, solving customers’
toughest mission-critical challenges by providing solutions that
connect, inform and protect. Harris supports government and commercial
customers in more than 100 countries and has approximately $6 billion
in annual revenue. The company is organized into three business
segments: Communication Systems, Electronic Systems and Space and
Intelligence Systems. Learn more at harris.com.
About Elbit Systems
Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land, and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance (“C4ISR”), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios and cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.
SEATTLE (Reuters) – A top Boeing Co executive said on Wednesday market demand was strong enough to support an even higher production rate of 63 single-aisle 737 aircraft per month but such an increase depends more on suppliers being able to keep up.
The world’s largest planemaker is also looking to remove as much risk as possible from a proposed new mid-sized jet plan by focusing on batting down development costs and applying lessons learned across multiple civil and military programs, Chief Financial Officer Greg Smith told a conference.
Boeing is currently building 52 737 aircraft per month at its Seattle-area factory. Reuters reported this week that Boeing plans to speed up to 57 planes per month in June if it can smooth out supplier delays.
(Reporting by Eric M. Johnson in Seattle; Editing by Chizu Nomiyama)
