An employee leaves the Volkswagen (VW) plant as the company will temporarily close its factories in Mexico amid growing worries over the spread of the coronavirus disease (COVID-19), in Puebla
MEXICO CITY (Reuters) – German automaker Volkswagen said on Wednesday it would extend until April 30 a suspension of activities at two production plants in central Mexico after the government declared a health emergency because of coronavirus.
Volkswagen <VOW.DE> is among manufacturers worldwide who are responding to a fall in demand, as well as supply chain challenges following measures taken to rein in the pandemic.
In a statement the company said the halt was extended from April 12 to comply with government orders for a suspension of all non-essential activities.
Volkswagen said it would continue to pay employees during the suspension. Mexico reported 37 deaths, up from 29 a day earlier, and 1,378 infections, up from 1,215, because of the virus.
(Reporting by Sharay Angulo; Writing by Stefanie Eschenbacher; Editing by Clarence Fernandez)
Norwegian is pleased to announce that two Nordic banks have obtained credit committee approval to provide a guarantee for the required 10 percent for the first tranche of 300 million Norwegian kroner (NOK). Norwegian will secure the necessary headroom to pursue further guarantees from the Norwegian Government.
Government measures On Thursday 19 March, the Norwegian Government proposed a guarantee of NOK 6 billion for the Norwegian airline industry, of which up to NOK 3 billion is directed to Norwegian. The guarantee will be up to 90 percent from the Norwegian Government provided that financial institutions contribute with the remaining 10 percent. The guarantee scheme will consist of three tranches with a maximum two years maturity.
Since Thursday evening Norwegian has worked with banks and financial institutions and is pleased to announce that two Nordic banks have obtained credit committee approval to contribute with the 10 percent required in guarantee for Tranche I and to provide the NOK 300 million in financing backed by the guarantee from the Norwegian Government. The Company is working with the banks and the Norwegian Export Credit Guarantee Agency (“GIEK”), who will administrate the guarantee scheme, on the documentation in order to obtain the NOK 300 million in liquidity as soon as possible.
The Company is now working with GIEK and the Ministry of Trade, Industry and Fisheries to clarify the criteria and terms related to the remaining tranches under the scheme and to obtain further guarantees from financial institutions in order to back such remaining tranches. Norwegian will update the market with its further plan of action and implications for its stakeholders as soon as the criteria and terms have been finalized. The Government guarantee scheme is crucial for the Company as the current state of the capital markets in combination with the challenging times for the airline industry limit the options available. The first NOK 300 million will create necessary headroom to pursue the remaining tranches of the guarantee scheme.
Operational update Currently, most of the fleet is grounded and Norwegian has reduced its operations to a minimum. The airline will now primarily operate domestically in Norway and Sweden and between the Nordic capitals, in order to deliver on its corporate responsibility of maintaining critical infrastructure so that people and necessary goods and medical supplies can be transported during this unprecedented crisis. The limited schedule will remain in place until further notice. In addition, Norwegian has conducted repatriation flights together with the authorities in order to get citizens of Norway, Denmark and Sweden back home.
In order to reduce cost, Norwegian has temporarily laid off approximately 90 percent of its workforce and will continue to implement additional cost measures going forward.
(Reuters) – Former U.N. ambassador Nikki Haley has resigned from Boeing Co’s board after opposing its bid for government financial assistance due to the crisis caused by the coronavirus outbreak.
“I cannot support a move to lean on the federal government for a stimulus or bailout that prioritizes our company over others and relies on taxpayers to guarantee our financial position,” Haley said in a letter to the company’s management released by Boeing on Thursday.
“I have long held strong convictions that this is not the role of government.”
Haley, a former South Carolina governor, has often been mentioned as a future presidential candidate. “The board and executive team are going in a direction I cannot support,” she wrote.
When asked to respond to Haley’s concerns, Boeing said only the company appreciated her service on the board and wished her well.
Boeing this week said it was seeking on behalf of itself and the aviation manufacturing industry at least $60 billion in government loan guarantees and other assistance. The sector faces huge losses from the coronavirus pandemic as airlines halt flights and some delay orders.
A Senate Republican proposal introduced Thursday would allow aviation manufacturing firms like Boeing to seek collateralized loans and loan guarantees from a $150 billion fund but not provide any cash. The final decision on eligibility would be up to the U.S. Treasury.
“We are not bailing out the airlines or other industries – period,” said Senator Richard Shelby, a Republican who chairs the Appropriations Committee.
To ensure the government is compensated for risks in making loans, the U.S. Treasury could seek equity, warrants stock or other instruments to ensure the government participates in any gains.
Haley’s resignation letter was dated Monday, the same day Boeing confirmed it was in talks to seek short-term assistance from the U.S. government.
Boeing has racked up nearly $19 billion in costs tied to its 737 MAX aircraft, which has been grounded for the past year after two fatal crashes in five months. The company has been working to win approval for the plane to return to service.
(Reporting by Ankit Ajmera in Bengaluru and David Shepardson in Washington and Michelle Nichols in New York; Editing by Arun Koyyur and Tom Brown)
LAS VEGAS (March 15, 2020)– Wynn Resorts has decided to temporarily close Wynn Las Vegas and Encore as part of its continuing effort to reduce the spread of COVID-19 (coronavirus).
The Company has committed to pay all full-time Wynn and Encore employees during the closure.
The closure will be effective Tuesday, March 17 at 6 pm and is expected to be in effect for two weeks, after which time the Company will evaluate the situation. A limited number of employees and management will remain at the resort to secure and maintain the facility. For additional information and updates, please visit www.wynninfo.com.
WASHINGTON (Reuters) – Boeing Co <BA> said on Friday it is addressing a new software issue discovered in Iowa last weekend during a technical review of the proposed update to the grounded Boeing 737 MAX, a development that could further delay the plane’s return to service.
“We are making necessary updates,” Boeing said in a statement. Officials at the planemaker said the issue relates to a software power-up monitoring function that verifies some system monitors are operating correctly.
One of the monitors was not being initiated correctly, officials said. The monitor check is prompted by a software command at airplane or system power up, and will set the appropriate indication if maintenance is required, company officials added.
The Federal Aviation Administration (FAA) did not immediately comment. ABC News reported the issue early Friday.
Boeing is halting production of the 737 MAX this month following the grounding in March of its best-selling plane after two fatal crashes in five months killed 346 people.
U.S. regulators are waiting for an update from Boeing on how they will resolve the issue. A U.S. official briefed on the matter said Friday the FAA is now unlikely to approve the plane’s return until March but it could take until April.
This week, American Airlines Group Inc <AAL> and Southwest Airlines Co <LUV> both said they would extend cancellations of MAX flights until early June.
Also this month, the FAA and Boeing said they were reviewing a wiring issue that could potentially cause a short circuit on the grounded 737 MAX. Officials said the review is looking at whether two bundles of wiring are too close together, which could lead to a short circuit and potentially result in a crash if pilots did not respond appropriately.
U.S. and European aviation safety regulators met with Boeing in an effort to complete a 737 MAX software documentation audit that was begun in November. Documentation requirements are central to certification for increasingly complex aircraft software, and can become a source of delays.
(Reporting by David Shepardson; Editing by Chris Reese and David Gregorio)
13 daily flights between Washington’s Reagan National and Newark Liberty mostly aboard the world’s only two-cabin 50-seat regional aircraft – the Bombardier CRJ-550 starting March 29
New jet offers first class seating, Wi-Fi, more leg room and enough space for every customer’s roller bag
WASHINGTON, Jan. 17, 2020 /PRNewswire/ — United Airlines today announced a new hourly shuttle service between Washington’s Reagan National Airport and New York/Newark Liberty International Airport. United will operate the world’s only two-cabin 50-seat regional aircraft – the Bombardier CRJ-550 on most flights. The CRJ-550 is designed for business and leisure travelers who want true-first-class seating, Wi-Fi, more leg room and enough space for every customer to bring a roller bag on board.
With this new shuttle service, United will now offer more travel opportunities between these two cities than any other airline in the world. Tickets for the 13 daily flights between New York/Newark and Washington, D.C. will be available for purchase beginning January 18 and service starts on March 29.
“Our customers who regularly travel between Washington, D.C. and New York – one of the busiest routes in the country – have told us they value convenient flights and a comfortable ride above all else,” said Sarah Murphy, United’s senior vice president of United Express. “With our new shuttle service aboard the one-of-a-kind CRJ-550, United Airlines is the only carrier to deliver both.”
The CRJ-550 is a first-of-its-kind jet boasting a wide variety of premium amenities, including:
10 seats in United First, 20 seats in Economy Plus, and 20 Economy seats
Space for every customer to bring a roller bag on board.
A self-serve refreshment center for United First customers featuring a wide assortment of snacks and beverages.
More overall legroom per seat than any other 50-seat aircraft flown by a U.S. airline.
The ability to stay connected while in flight with United Wi-Fi.
Every customer. Every flight. Every day.
United continues to strengthen its commitment to its customers, looking at every aspect of its business to ensure that the carrier keeps customers’ best interests at the heart of its service. In addition to today’s announcement, United recently:
Announced that MileagePlus award miles will never expire
Committed $40 million toward a new investment initiative focused on accelerating the development of sustainable aviation fuels and other decarbonization technologies
Established Miles on a Mission, a first-of-its-kind crowdsourcing platform which gives customers a simple way to donate miles to non-profit organizations and charities in need of air travel
Launched ConnectionSaver, a digital tool dedicated to improving the experience for customers with connecting flights
Instituted PlusPoints, new upgrade benefits for MileagePlus Premier members
Gave Economy customers a choice of complimentary snacks on domestic flights
Made DIRECTV free for every customer on more than 200 aircraft
United Airlines logo. (PRNewsFoto/United Airlines)
FILE PHOTO: Boeing 737 Max aircraft at Boeing’s 737 Max production facility in Renton
ISTANBUL (Reuters) – Turkish Airlines and Boeing have come to an agreement concerning compensation for certain losses caused by grounded and undelivered Boeing 737 Max aircraft, the Turkish airline said on Tuesday.
The statement to the Istanbul stock exchange did not specify the value of the deal. The airline has 24 Boeing 737 MAX planes in its fleet. The 737 MAX has been grounded since March after two crashes in Indonesia and Ethiopia killed 346 people within five months.
(Reporting by Ceyda Caglayan; Editing by Daren Butler)
WASHINGTON (Reuters) – U.S. President Donald Trump called Boeing <BA> Chief Executive Dennis Muilenburg this week to ask about the status of 737 MAX production, two people briefed on the matter confirmed.
The call on Sunday was brief and Muilenburg assured Trump that the planned production halt was temporary and that the company would not be laying off any workers. The production halt, set to begin in January, was announced by Boeing Monday after a board meeting.
Boeing and the White House declined to comment on the call, reported earlier by the New York Times.
Separately, S&P Global Ratings on Thursday downgraded Boeing’s credit rating to “A-” from “A” and lowered the short-term rating to “A-2” from “A-1.”
The change “reflects the uncertainty over when the 737 MAX will return to service, the risk to the supply chain from the planned production halt, and possible long-term impact to Boeing’s competitive position.”
U.S. officials have repeatedly said they are waiting for additional answers from Boeing and have at time faulted the quality of submissions from the planemaker since the plane was grounded in March after two fatal crashes killed 346 people.
“We’ve had conversations about the importance of making sure that we are looking at complete documentation and not piecemeal documentation,” FAA Administrator Steve Dickson told Reuters in September. “It’s really better to be very methodical and very detailed rather than try to rush a partially completed product and then say, ‘We’ll get back to you with the rest of it.’”
Boeing has repeatedly said it is working with regulators to safely return the plane to service and acknowledged last week it would not occur until 2020.
Dickson said last week there are nearly a dozen milestones that must be completed before the MAX returns to service. Approval is not likely until at least February and could be delayed until March, U.S. officials told Reuters last week.
American Airlines Group Inc <AAL> and Southwest Airlines Co <LUV> have canceled flights into April because of the grounding.
(Reporting by David Shepardson; Editing by Nick Zieminski)
LOS ANGELES, December 12, 2019 – Today Air Lease Corporation (“ALC”) (NYSE: AL) announced the delivery of one new Airbus A321-200neo aircraft on long-term lease to Air Macau. This aircraft, featuring Pratt & Whitney PW1133G engines, is the first of two A321-200neo aircraft confirmed to deliver to the airline from ALC’s order book with Airbus and the first A321-200neo to deliver to the airline.
“We are pleased to announce this first of two A321-200neo aircraft delivery to Air Macau today and be the first to introduce the A321neo to the airline,” said Jie Chen, Executive Vice President and Managing Director, Asia – President, Air Lease Corporation Hong Kong Limited. “The ALC team has a long history of working with Air Macau and we are thrilled to continue to build our strong relationship with the airline by providing the most modern, fuel-efficient aircraft.”
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.
Alstom is to carry out the renewal and automation of Marseille metro for the sum of 430 million euros financed by Métropole Aix-Marseille-Provence. As part of this contract, Alstom will develop, supply and install the operating system and equipment for the automatic operation of the network’s two lines. Alstom will also commission 38 new rubber-tyred metros (4 cars) and modernise all the audiovisual passenger information inside the stations. The new trains are scheduled to enter service in early 2024.
The trains will run in semi-automatic mode with drivers until mid-2025 on line M2 and until 2026 on line M1, before switching to full automation.
“It is a great honour for us to contribute to modernising the mobility offer of Métropole Aix-Marseille-Provence. Our metro experts are already at work on several of our French sites to get started quickly with developments,” says Jean-Baptiste Eyméoud, Senior Vice-President France at Alstom.
The new trains, based on Alstom’s rubber-tyred metro solutions, will incorporate the latest technological developments to increase comfort, availability, accessibility and passenger information, as well as facilitate maintenance.
Each 4-car train, 65 metres long and in “boa”[1] configuration, will be able to carry up to 500 passengers[2]. The sleekly designed trains will feature large bay windows, a highly efficient air conditioning system and modern passenger information systems, providing a pleasant on-board experience. Alstom called on Marseille designers Ora-ïto and Fabien Bourdier for the design and the sound conception of the new trains.
Three designs were proposed to the Metropole Aix-Marseille-Provence, which chose to set up an Internet consultation to give residents the opportunity to give their opinion on the design they would like to see selected.
The new metros for Marseille are environmentally friendly and will be eco-designed, enabling them to be 96% recoverable at the end of their lifespan. They will consume 25% less energy than the metros currently in service, thanks in particular to electric braking (up to 0 km/h), LED lighting and other optimisations.
For the automation system, Alstom will provide its Urbalis 400 solution, already deployed on more than 1,500 kilometres of metro lines worldwide. The Marseille metro will benefit from a proven, continuously improved system (on-board computers equipped with the latest technology, vital computers that are over 99% available, beacon tracker, etc.).
Alstom currently equips 25% of the CBTC[3] metro automations in service (60 lines, including 28 fully automated lines).
In total, more than 400 people in France will work on this project, including more than 60 in Métropole Aix-Marseille-Provence. Jobs will also be generated at our suppliers in France, but also in the Métropole for the installation and deployment of the signalling system.
Alstom will draw on the excellent skills of six of its French sites: Aix-en-Provence for the project management, Valenciennes for the design, interior layout, assembly, tests and validation of the trains, Ornans for the engines, Le Creusot for the bogies, Villeurbanne for the on-board electronics, passenger information, predictive maintenance and signalling system equipment, and Saint-Ouen for the coordination of the artistic design, development and integration of the signalling system.
