Tag: Consumer (Page 4 of 4)

Singapore Airlines Extends PPS Club And KrisFlyer Elite Statuses For Third Year

January 17, 2022 / WIL BALDWIN

Singapore Airlines (SES: C6L.SI) is extending PPS Club and KrisFlyer Elite statuses, rolling over Elite miles, pausing the expiration of miles in 2022, and introducing new program benefits that further rewards its loyal members.

All PPS Club and KrisFlyer Elite statuses that are due to expire between March 2022 and February 2023 will be automatically extended for another year. This supports our members, who have been unable to fly as before due to the Covid-19 pandemic, and follows a similar extension in 2020 and 2021.

Elite miles earned by KrisFlyer Elite members, in the 12 months prior to the latest extension, will be credited back into their accounts after the extension. Elite miles earned during the previous membership qualification cycle will also count towards their requalification in the March 2023 to February 2024 cycle.

KrisFlyer miles that expire in 2022 will be automatically extended by six months at a time, at the end of each month.

Rewards earned from the PPS Rewards and KrisFlyer Milestone Rewards that are due to expire in 2022 will be extended to 31 December 2022. This offers members greater flexibility in utilising the rewards earned from flying with SIA.

From February 2022, KrisFlyer members also enjoy additional benefits when they fly on Scoot.

PPS Club and KrisFlyer Elite tier members can enjoy priority boarding, complimentary standard seat selection, an additional 5kg check-in baggage allowance with any baggage purchase, as well as 25% more KrisFlyer miles for every mile earned when travelling on Scoot flights.

In addition, KrisFlyer members can earn 2.5 Elite miles for every KrisFlyer mile earned from flying on Scoot, up from 1 Elite mile for every KrisFlyer mile. This enables members to upgrade to higher KrisFlyer membership tiers at a faster rate.

SIA has also launched two new KrisFlyer Milestone Rewards, which can be enjoyed by members who have earned 1,000 and 2,500 Elite miles.

QANTAS and Jetstar Airlines Adjust Third Quarter Flight Capacity Settings

January 16, 2022 / WIL BALDWIN

Qantas and Jetstar are adjusting flying levels to better match travel demand in light of the sudden growth in COVID-19 cases. The Qantas Group now expects domestic capacity for the third quarter of FY22 to be at around 70 per cent of pre-COVID levels, down from the 102 per cent that had been planned. The schedule changes are focused on reducing frequency of services and size of aircraft to minimise inconvenience for passengers as much as possible.

The Group’s total international capacity for the same period will fall from 30 per cent to around 20 per cent of pre-COVID levels. This reduction is driven by increased travel restrictions in countries like Japan, Thailand and Indonesia and is mostly impacting Jetstar’s leisure routes. Other markets – such as London, Los Angeles, Vancouver, Johannesburg and India – continue to perform well.

Customers will be contacted directly from late January if their booking is impacted by cancellations and offered alternative flights that in most cases are likely to be a difference of a few hours if travelling domestically.

Qantas and Jetstar continue to have 100 per cent of their available Australian-based crew stood up, which has helped to minimise the resourcing impacts of some needing to self-isolate during the summer peak. This 100 per cent crewing level will be maintained despite the capacity reductions announced today, giving both airlines a significant buffer to manage ongoing isolation requirements and resulting in a more reliable schedule for passengers.

An assessment on the financial impact of these changes will be given at the Group’s half year results in late February, by which time a clearer picture will have emerged on swing factors such as actual demand levels; potential loosening or tightening of travel restrictions in countries overseas; and consumer response to the reopening of Western Australia next month. No material adjustments have been made to capacity expectations for Q4 FY22.

To give customers more confidence when they book international and domestic flights, Qantas has extended Fly Flex, which enables customers to change their travel dates as often as they need, fee-free (a fare difference may apply).

777 Partners Orders 30 Additional Boeing 737 MAX Airplanes

December 10, 2021 / WIL BALDWIN

Boeing [NYSE: BA] and 777 Partners have announced the Miami-based investment firm will nearly double its 737 MAX order book with the purchase of 30 additional jets. The new order expands 777 Partners’ commercial aircraft portfolio to a total of 68 737 MAX’s, in its fourth order this year for the fuel-efficient, single-aisle jets. Valued at $3.7 billion at list prices, the order will enable 777 Partners to expand 737 MAX operations across the fleet of its affiliated global low-cost carriers.

The 737 MAX family reduces fuel use and carbon emissions by at least 14% compared to the airplanes it replaces, reducing operating costs as well as the environmental footprint for 777 Partners’ affiliated airlines. Every 737 MAX features a passenger-pleasing Boeing Sky Interior, highlighted by modern sculpted sidewalls and window reveals, LED lighting that enhances the sense of spaciousness and larger pivoting overhead storage bins.

777 Partners is a Miami-based private alternative investment firm that invests across a number of high growth attractive verticals. Founded in 2015, 777 Partners initially applied its expertise in underwriting and financing of esoteric assets to diversify across a broad spectrum of financial services businesses, asset originators, and financial technology/service providers. In recent years, the firm has broadened its mandate and now invests across six different industries: insurance, consumer and commercial finance, litigation finance, direct lending, media and entertainment, and aviation.

SBB Swiss Rail to Offer Customers with Bicycles More Space and Reliability

February 26, 2021 / WIL BALDWIN

SBB is improving its services for travelling with bicycles for the 2021 cycling season. It is taking this step in response to strong demand and to insufficient capacity last summer. On key leisure travel lines (Bern to Brig, Zurich to Chur) SBB is tripling capacity at times of high demand from 21 March. SBB will offer customers with bicycles more reliable journey planning: thanks to reservations, passengers taking along bikes can be sure that they will find space for them on trains. The price of bicycle reservations is reduced from CHF 5 to CHF 2. SBB presented the improved services to cycling, consumer and industry organisations today and outlined future prospects for traveling with bikes.

There has been a sharp increase in demand for travelling with bikes and holidays in Switzerland due to the coronavirus crisis. In some cases this has led to capacity shortages and dissatisfied customers who were unable to travel with their bike on the train they had planned to use. Around 80,000 Bike Day Passes were sold in the peak month of July 2020, for example, which is up by around 45% compared to the previous year. SBB also transported up to 15,000 bikes with self-service loading on the main axes of Zurich to Chur and Bern to Brig.

SBB expects demand for travel with bikes to continue to rise and is responding to this trend. This is why – together with Pro Velo and the Swiss Transport and Environment Association – it engaged in broad-based dialogue with cycling stakeholders as well as consumer and industry organisations on the issue of ‘sustainable travel with bicycles’. The aim is to offer customers reliable journey planning and reservations, to further improve and simplify services and to make them even more customer-friendly. SBB has a duty of responsibility towards all customers and wishes to provide services that meet and take account of the needs of all passengers as far as possible – including, for example, people with disabilities or families.

In view of the forthcoming cycling season, which begins on 21 March, SBB has introduced various changes to make travelling with bikes easier:

SBB is increasing capacity for the self-service loading of bicycles at times of high demand on the key leisure travel lines, tripling capacity compared to the current levels where possible. These routes include Bern to Brig and Zurich to Chur. Additional capacity will also be provided on routes to Ticino, Interlaken and the southern foot of the Jura. Passengers will be assisted with the loading of bicycles by SBB staff on these lines where possible.

In order to expand capacity medium and long-term, SBB is currently assessing which technical measures can be implemented long-term to create additional bicycle spaces on various types of train. Only minor modifications to rolling stock are possible in the short term.

Customers with bicycles need to be able to plan their journey reliably and safely. SBB makes this possible on all Swiss InterCity trains with a reservation costing CHF 2. Passengers who made a reservation can be certain that they will find space for their bike on the trains. Trains are labelled with the well-known bicycle symbol in the online timetable. Bikes can only be transported using self-service loading on trains labelled with this symbol if a reservation has been made and a valid bike ticket is presented. Reservations can be made up until shortly before departure in the SBB Mobile app. They can also be purchased at the counter or several days in advance via the SBB Contact Center

(tel. 0848 44 66 88)

The price for reservations will be reduced from CHF 5 to CHF 2 for a continuous connection – for example for a route with more than one section. International trains within Switzerland can now also be used for bike transport with a reservation, but prices and booking options may differ. Bikes can be transported with a valid bicycle ticket but without a reservation on regional services (R, S, RE trains) as well as on InterRegio trains (IR).

CSX Corporation Announces Increase to Quarterly Dividend

February 12, 2021 / WIL BALDWIN

JACKSONVILLE, Fla. – CSX Corp. (NASDAQ: CSX) today announced that the Company’s Board of Directors has authorized an 8 percent increase in its quarterly dividend, from $0.26 to $0.28 per share. The new $0.28 quarterly dividend is payable on March 15, 2021 to shareholders of record at the close of business on February 26, 2021.

About CSX and its Disclosures

CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural, and consumer products. For nearly 200 years, CSX has played a critical role in the nation’s economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation’s population resides. It also links more than 230 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike.

Delta Air Lines Wins Record 10th Business Travel News Award

November 16, 2020 / WIL BALDWIN

For the 10^th year in a row, corporate travel professionals have named Delta the No. 1 airline in the annual Business Travel News Airline Survey, with significant improvements over the airline’s already-leading 2019 scores.

The survey asks corporate travel professionals to rank airlines on a number of important attributes, from customer service to distribution. This year, the survey also asked participants to rank how well each airline responded to the COVID-19 pandemic, including overall response, effective communication and flexibility. Delta earned its top marks for pandemic response, customer service and communication, while also improving its score substantively in all other categories. Again this year, Delta led in all categories, and is the only airline to sweep all categories for seven consecutive years.

Delta is the only airline in survey history to win 10 consecutive times, thanks to its industry-leading employees.

“It’s always an honor to earn our customers’ trust and respect, but to receive this award in 2020 – when the stakes have never been higher – is incredibly gratifying,” said Delta CEO Ed Bastian. “In the face of historic challenges, we’ve stayed true to Delta values and have put our employees and our customers first. This recognition tells us we’re on the right path, and I could not be more thankful or more proud of the Delta team.”

Delta’s actions in 2020, including many steps we’ve taken to respond to the COVID-19 crisis, have been guided by the airline’s “listen, act, listen” approach, which includes hearing customer feedback, taking action and then listening to make sure we got it right.

Based on survey feedback, some of the actions Delta customers have most valued in 2020 include:

– Blocking middle seats through Jan. 6, 2021 to provide space for safer travel

– Unparalleled service from Delta’s corporate sales team and employees throughout operation

– Providing constant communication to corporate customers, including personalized airport tours and Corporate Customer Town Halls so attendees could hear directly from Delta leaders and partner medical experts

– Rigorous mask compliance and more than 100 layers of safety via the Delta CareStandard

– Flexibility, from offering industry-leading flexibility to plan, re-book and travel to eliminating change fees to being the first airline to extend Medallion status and offer extensions for Delta Sky Club Memberships

Business Travel News is the leading global source of business travel information and intelligence, reaching more than 44,000 corporate executives who are responsible for setting travel policy, managing and buying business travel/meetings for their companies.

Tesla Sedans Regain Consumer Reports Recommended Status

November 14, 2019 / WIL BALDWIN

DETROIT (Reuters) – Tesla Inc’s <TSLA> Model 3 and S sedans both regained “recommended” status in Consumer Reports magazine’s annual reliability survey, allowing the electric carmaker’s overall standing to rise slightly.

Tesla’s ranking improved four spots to No. 23 out of 30 brands in the U.S. market as it worked to resolve production problems with the Model 3, said Jake Fisher, senior director of auto testing at Consumer Reports. Both the Model 3 and S raised their reliability ratings to “average.”

“People really like their cars,” he said of Tesla owners. “Hopefully, if that frantic rate of change can slow down a bit, they can maintain reliability.”

Tesla has touted the popularity of the Model S, listed in the top ranks of a different Consumer Reports survey, on owner satisfaction, every year since 2013 when the carmaker was first included.

Fisher cautioned he expected Tesla’s reliability to remain fluid given its inconsistent track record.

Tesla’s Model X SUV still ranks among the least reliable models, according to the annual survey released on Thursday.

The poll predicts which new cars will give owners fewer or more problems, based on data collected for more than 400,000 vehicles. Its scorecard is influential among consumers and industry executives.

Reliability rankings tend to suffer when automakers offer new or redesigned models, which dragged down Volkswagen AG’s <VWAGY> namesake and Audi brands. The VW brand slid nine spots to No. 27, while Audi fell seven spots to No. 14.

Brands with no major changes to their lineups, such as Fiat Chrysler Automobiles’ <FCAU> Dodge and Chrysler, made significant gains. Dodge was the highest ranked U.S. brand at No. 8, making the biggest gain of 13 spots. Chrysler rose seven spots to No. 19, while Jeep finished at No. 26.

Ford Motor Co’s <F> Lincoln and Ford brands were No. 15 and 16, while General Motors Co’s <GM> Buick, GMC, Chevrolet and Cadillac brands ranked No. 18, 22, 25 and last at 30, respectively.

The reliability of full-sized pickups, the most popular vehicles in the U.S. market, was weak. Ford’s F-150 and FCA’s Ram trucks were rated “well below average,” while GM’s pickups – the Chevrolet Silverado and GMC Sierra – both had “below average” reliability.

Toyota Motor Corp’s <TM> Lexus luxury brand finished atop the survey, followed by Mazda Motor Corp <MZDAY> and the Toyota brand.

(Reporting by Ben Klayman in Detroit; Editing by Richard Chang)

Tesla Stock Drops For Sixth Straight Session

May 22, 2019 / WIL BALDWIN

SAN FRANCISCO (Reuters) – Tesla shares extended their recent sell-off on Wednesday after Citi cut its price target on the struggling electric car maker, leaving buyers of its recent share offer, including Chief Executive Elon Musk, $175 million in the hole.

Tesla’s stock dropped 5.5% to $193.88, on track to close below $200 for the first time since late 2016. It has lost a fifth of its value since the company sold a $1.84 billion convertible bond and almost $900 million of stock on May 2 to raise fresh capital and give it more time to stop losing money.

Citi analyst Itay Michaeli, who has a “sell” rating on Tesla, cut his price target to $191 from $238. He pointed to a an email Musk sent to employees last week, telling them he would increase cost-cutting, and that the $2.7 billion in recently raised capital would give Tesla just 10 months to break even at the rate it burned cash in the first quarter.

“The recent reported internal memo, which seemingly called into question prior guidance, didn’t help the risk/reward calculus. The implications can be serious, since an automaker’s balance sheet is always subject to the confidence ‘spiral’ risk,” Michaeli wrote in a client note.

Consumer Reports warned on Wednesday that a recent update to Tesla’s Autopilot driver assistance software does not work well and could be unsafe.

“It doesn’t appear to react to brake lights or turn signals, it can’t anticipate what other drivers will do, and as a result, you constantly have to be one step ahead of it,” Jake Fisher, Consumer Reports’ senior director of auto testing, said in a news release.

Tesla did not immediately respond to a request for comment. On April 22, Musk told investors that driverless Tesla “robotaxis” would be available in some U.S. markets next year, a claim met by skepticism by some self-driving experts.

UPPING HIS STAKE

Musk is battling to convince investors that demand remains high for the Model 3, the sedan targeted to propel Tesla to sustainable profit, and that it can be delivered efficiently and swiftly to customers around the world. Tesla lost $702 million in the first quarter and warned that profit would be delayed until the latter half of the year.

On Monday, Musk exercised options to buy 175,000 Tesla shares at $31.17 per share, increasing his indirect stake in the company to 34,102,560 shares, according to a filing. With Tesla’s stock down 41% year to date, Musk’s shares, including 102,880 he bought in this month’s capital raise, were worth $6.6 billion on Wednesday.

Tesla’s debt has stalled at lows hit earlier this week. Its recently issued convertible bond due in 2024 priced at 89.09 cents on the dollar, a record low. Its $1.8 billion junk bond traded at 82.5 cents on the dollar, slightly up from the all-time lows it hit on Monday and Tuesday.

The cost to insure Tesla’s debt, as measured by its credit default swap, edged up to roughly 28% of the face value of Tesla’s 2025 bond, from 27.6 % the day before.

(Reporting by Noel Randewich; additional reporting by Kate Duguid in New York and Vibhuti Sharma in Bengalaru; editing by Nick Zieminski and Jonathan Oatis)

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