(Reuters) – German logistics company DHL plans to cut as many as 2,200 jobs of U.K-based workers at Jaguar Land Rover factories, the Unite trade union said on Tuesday.
The job cuts comprise just under 40% of the entire DHL workforce on the contract, the union said.
DHL indicated that the half of the job cuts are due to a decline in car production and half are the result of anticipated “efficeincy savings”, the union added.
“DHL must not attempt to make permanent full-time staff redundant while continuing to outsource work to sub-contractors,” Matt Draper, Unite national officer for logistics, said.
Last month India’s Tata Motors Ltd said it expected to shed about 1,100 temporary jobs at Jaguar Land Rover after it raised the cost-cutting target at its luxury unit by 1 billion pounds ($1.3 billion) to ride out the disruptions caused by the coronavirus outbreak.
DHL and Jagaur Land Rover were not immediately available for comment.
(Reporting by Sabahatjahan Contractor in Bengaluru; Editing by Stephen Coates)
Presentation of a new DHL/Deutsche Post parcel center in Bochum
ALSTOM; IBRE ; experienced designer and producer and brake discs & levers; IBRE , experienced designer and producer and brakedisc & levers; 89100 Saint-Denis-lès-Sens.Autorisation image OK
Alstom is taking a new step forward in the implementation of its AiM (Alstom in Motion) strategic plan in France with the acquisition of Ibre, a company specialised in the development, manufacture and supply of cast iron or steel brake discs for high-speed, intercity, regional and suburban trains, trams and metros. Alstom and Ibre already had a long working relationship on projects for SNCF.
With the acquisition, Alstom will reinforce its internal capabilities regarding railway braking systems, which are essential to the overall dynamic performance of trains.
Ibre employs around 30 people at its Sens site in the region of Bourgogne Franche Comté and had a turnover of approximately €10 million in 2019. It is a company with an international scope, with more than half of its sales in France, of both original equipment and replacements. The rest primarily serves customers in Austria, Australia, Belgium, Scandinavia, England, India and Germany.
“This acquisition represents very promising development potential for Ibre and its employees and is in line with Alstom’s strategy to extend its know-how,” says Jean-Baptiste Eyméoud, Senior Vice President Alstom France.
Railway brake discs are one of the critical components of the braking system. Alstom’s acquisition of Ibre represents a unique opportunity to extend its offer. Ibre products will be offered as original equipment and as part of maintenance contracts. Following completion of the transaction, which took place on 30 June, the company, renamed “Alstom Ibre”, becomes a wholly owned subsidiary of Alstom.
IBRE is an experienced designer and producer and brake discs & levers
Morocco is the 17th country to acquire the Boeing AH-64 Apache through a contract for 24 of the helicopters that was recently signed.
Boeing has delivered nearly 2,500 Apache helicopters to 16 nations to date, including the U.S., Netherlands, Greece, United Kingdom, Japan, India, Singapore, South Korea and Saudi Arabia. Deliveries to Morocco are expected to begin in 2024.
“This is another step forward in our long partnership with the Kingdom of Morocco,” said Jeff Shockey, vice president, Global Sales and Marketing, Boeing Defense, Space & Security and Government Services. “Worldwide demand for the Apache is growing and we are proud to provide this best-in-class capability to Morocco.”
The AH-64E Apache is the latest configuration of the attack helicopter. It is designed and equipped with an open systems architecture including the latest communications, navigation, sensor and weapon systems. It has an improved Modernized Target Acquisition Designation System that provides day, night and all-weather target information, as well as night vision navigation capability. In addition to classifying ground and air targets, the Fire Control Radar has been updated to operate in a maritime environment.
Boeing will build and deliver the new Moroccan Apaches under a contract with the U.S. Army through the U.S. government’s Foreign Military Sales process.
Boeing’s partnership with Morocco spans decades. The company is committed to developing Morocco’s supply chain and future workforce. Boeing is a partner of the MATIS Aerospace joint venture, which produces airplane wire bundles and harnesses. In 2016, the company signed a Memorandum of Understanding with the Kingdom to create an ecosystem of aircraft equipment suppliers. Boeing also supports the country’s future workforce through partnerships with Education for Employment (EFE) Morocco and the INJAZ Al-Maghrib association.
The first of the 12000-horsepower, Prima T8 electric locomotives has been put into commercial service by Indian Railways. Built by Alstom and certified by the Ministry of Railways and Commissioner of Railway Safety/RDSO, the electric locomotives – known locally by the designation WAG-12 – are the most powerful locomotives to run on Indian rails. The 2015 contract will see a total of 800 locomotives built for Indian Railways.
Set to revolutionise freight logistics in the country, the e-locos will allow faster and safer movement of heavy freight trains, capable of hauling 6000 tonnes at a top speed of 120 km/h. Planned for deployment on Dedicated Freight Corridors (DFCs), they will increase the average speed of freight trains in India by approximately 25 km/h. Equipped with Insulated Gate Bipolar Transistors (IGBT) propulsion technology, the e-locos will also allow considerable savings in energy consumption thanks to the use of regenerative braking.
“Alstom is very pleased to be delivering these electric locomotives to Indian Railways. The introduction of the Prima locomotives into the IR fleet demonstrates our commitment to the country. This revolutionary product which will be faster, safer and more environmentally friendly, and it will help write a new chapter for India’s sustainable mobility journey. We are immensely proud to be a partner in this,” said Ling Fang, Senior Vice President of Alstom Asia-Pacific.
In line with the Make-in-India mandate, all the 800 Prima locomotives are being manufactured locally. Designed at Alstom’s Engineering Centre in Bengaluru, the Prima T8 WAG-12 are being built in one of India’s largest integrated greenfield manufacturing facilities at Madhepura in Bihar. Spread across 250 acres, with a production capacity of 120 locomotives per year, the Madhepura site is built to international standards of safety and quality. Two ultra-modern maintenance depots in Saharanpur and Nagpur will ensure the high service availability of the locomotives. The Saharanpur depot is already operational and the one in Nagpur is under construction. Equipped with the latest features, these depots will play a critical role in maintaining India’s most advanced freight locomotives at significantly lower costs.
As part of the largest Foreign Direct Investment (FDI) project of Indian Railways, in 2015 the Ministry of Railways and Alstom signed a contract worth €3.5 billion (INR 25,000 crore) and created a joint venture for the project. The contract allowed for the manufacture of 800 double-section, 12000-horsepower electric locomotives for freight service and associated maintenance for a period of 11 years. The scope also included the set-up of a manufacturing plant at Madhepura (Bihar) for building the e-locos and two maintenance depots at Saharanpur (Uttar Pradesh) and Nagpur (Maharashtra). A true embodiment of India’s vision, the project will create more than 10,000 direct and indirect jobs in the country (primarily in the states of Bihar, Uttar Pradesh and Maharashtra).
DEARBORN, Mich. (Reuters) – Investors sent Ford Motor Co shares skidding on Tuesday after the company delivered a weaker-than-expected 2020 forecast, warning of higher warranty costs, lower profits at its credit arm and continued investments in future technology such as self-driving cars.
Shares in the No. 2 U.S. automaker plunged 9.4% in after-hours trading, shaving more than $3 billion off the company’s value. In comparison, electric carmaker Tesla closed up nearly 14%, pushing its market cap to $160 billion, more than four times the size of Ford’s $36.4 billion.
“The results were not OK in 2019,” Ford Chief Financial Officer Tim Stone told reporters at the company’s headquarters outside Detroit.
“As I look to 2020 and beyond, I’m very optimistic,” he said, while cautioning that Ford’s lower guidance does not yet account for the potential impact of the coronavirus outbreak in China.
In an after-hours call with financial analysts, Chief Executive Jim Hackett was more blunt about the challenge of balancing Ford’s protracted turnaround efforts with its continuing work on future technology, including electric and self-driving cars.
“I don’t think this company can keep straddling the old and new worlds forever … This company has to change,” Hackett said.
Ford said it expects 2020 operating earnings to be in the range of 94 cents to $1.20 a share. Analysts were expecting $1.26 a share.
Stone said Ford expects to continue its quarterly dividend of 15 cents, which could cost the company $2.4 billion in 2020. Asked about continuing the dividend after lowering its 2020 guidance, Hackett said, “We like to return value to shareholders.”
The disappointing 2020 forecast, coming after Ford previously trimmed its 2019 outlook, is a blow for Hackett, who took the helm in May 2017.
He has been asking investors to be patient with a restructuring that has seen the formation of a wide-ranging alliance on commercial, electric and autonomous vehicles with Volkswagen AG <VOWG_p.DE> and the sale of its money-losing operations in India to a venture controlled by India’s Mahindra & Mahindra.
But by Ford’s own accounting, the restructuring is far from complete. It has booked $3.7 billion of the projected $11 billion in charges it previously said it would take, and expects to book another $900 million to $1.4 billion this year.
For the fourth quarter of 2019, Ford reported a net loss of $1.7 billion, or 42 cents a share, compared with a loss of $100 million, or 3 cents a share, a year earlier.
The quarter included a loss of $2.2 billion due to higher contributions to its employee pension plans, something it disclosed last month.
Revenue in the quarter fell 5% to $39.7 billion, above the $36.5 billion Wall Street had expected.
Ford’s adjusted free cash flow fell 67% in the fourth quarter to $500 million, including the $600 million cost of bonuses related to a new labor deal with the United Auto Workers union. The UAW deal also played a role in driving North American automotive profit margins down to 2.8% in the fourth quarter.
Ford said its operating losses in China last year totaled $771 million, including a loss of $207 million in the fourth quarter. It lost $1.5 billion in 2018. Ford’s market share in China in the fourth quarter fell to 2% from 2.3% last year.
In December, Ford said it would halve its operating loss in 2019 and nearly halve it again in 2020, followed by further improvement in 2021.
However, that forecast was before the appearance of the fast-spreading coronavirus and its crippling effects on China’s economy.
Ford’s China sales fell about 15% in the fourth quarter and 26% for the year as it continued to lose ground in its second-biggest market. Ford has been struggling to revive sales in China since its business began slumping in late 2017.
Detroit rivals General Motors Co and Fiat Chrysler Automobiles are scheduled to report their results on Wednesday and Thursday, respectively.
(Reporting by Ben Klayman and Paul Lienert; Editing by Tom Brown)
The Indian government is in the market to sell its stake of Air India – and on Monday set a March 17 deadline for initial expressions of interest.
Indian conglomerate Hinduja Group and US-based fund Interups are already reported to be submitting theirs.
It’s not the first attempt at a sale: in 2018 the government failed to divest 76 per cent of the airline, and with it over five billion dollars of debt.
Air India workers protested ….
And potential bidders opted out because of stringent conditions attached – such as retaining all employees.
This time, the government has indicated, it’s open to revising some provisions.
Though bidders must assume liabilities, including debt at just under 3.3 billion dollars.
And substantial ownership and control must remain with an Indian entity.
The sale might face opposition from within prime minister Narendra Modi’s ruling BJP Party – one lawmaker describes the deal as quote ‘anti-national’.
But if successful, the buyer gets over 7,000 landing slots in India and overseas …
Together with the carrier’s low-cost arm and a stake in its cargo and ground-handling operations.
As for staff, Air India currently has around 13,000 permanent and contract personnel on its books …
A Jet Airways vehicle leaves the company’s headquarters in Mumbai
BENGALURU (Reuters) – Bankrupt Indian airline Jet Airways Ltd said it had agreed to sell its assets in Netherlands to Dutch airline KLM.
If the deal is finalised, it will only involve a sale of part of the company’s business and not impact the shareholding pattern, Jet said in a statement dated Jan. 16. It did not detail the assets held in Netherlands.
Once India’s biggest private carrier, Jet stopped flying in April after running out of cash, leaving thousands without jobs and pushing up air fares across the country.
It was admitted to bankruptcy court in June after its lenders, led by State Bank of India SBI.NS, failed to agree on a revival plan.
KLM, a part of Air France KLM, was once codeshare partners with the defunct airline and in the wake of Jet’s collapse had added flights to India.
(Reporting by Chandini Monnappa in Bengaluru; Editing by Subhranshu Sahu and Anil D’Silva)
(Reuters) – United Airlines Holdings Inc <UAL> said on Tuesday it expects a non-cash impairment charge of $90 million in the fourth quarter related to its Hong Kong routes, following anti-government protests in the city.
The Hong Kong protests escalated in June over a now-withdrawn extradition bill, but have since developed into a broader movement.
“Due to a decrease in demand for the Hong Kong market and the resulting decrease in unit revenue, the company determined that the value of its Hong Kong routes had been fully impaired,” the U.S. carrier said.
Several airlines including India’s SpiceJet Ltd <SPJT>, Malaysia’s AirAsia Group Bhd <AIABF>, South Korea’s JejuAir Co Ltd <089590> reduced the number of flights to the city in the fourth quarter as the protests grew increasingly violent, disrupting daily life.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Shounak Dasgupta)
SOUTHLAKE, Texas, Jan. 3, 2020 /PRNewswire/ — Sabre Corporation (NASDAQ: SABR), the leading software and technology company that powers the global travel industry, issued a statement today regarding its relationship with Air India. The following is for attribution to Kristin Hays, vice president – global communications for Sabre:
“After a successful 20-year relationship, Air India has decided to discontinue distributing its content through the Sabre GDS. Consequently, Air India content is no longer available to Sabre-connected travel agencies, effective Jan. 2.
“We are very disappointed that Air India decided to withdraw from Sabre. We believe that access to Sabre’s global network of travel agencies provides great value to Air India.
“We have worked with Air India for the better part of a year to reach a new agreement, in anticipation of the existing contract expiring and after receiving a termination notice from the carrier. Unfortunately, after extensive negotiations, we have been unable to come to a new agreement.
“Our teams will continue to work with Air India to finalize an agreement that meets the needs of Sabre, Air India and travel buyers.
“Sabre remains committed to GDS agreements that meet our airline customers’ unique needs while also balancing the needs of the travel buyers who rely on Sabre for robust travel content.”
Total of 31 metro trainsets comprising of 248 cars will be manufactured at the company’s state-of-the-art plant at SriCity
Alstom, leader in sustainable and smart mobility, today commenced the manufacturing of metro trainsets for Mumbai Metro Rail Corporation (MMRC) at its factory in SriCity, Andhra Pradesh. The ceremony was preceded by Mr. Alain Spohr – MD, Alstom India & South Asia. The first metro train after testing will be delivered by November 2020.
Alstom’s overall contract with MMRC for Line 3 is worth €452 million. The order includes manufacturing of 31 lightweight, fully-furnished modern metro trains of 8 cars each. Along with rolling stock, Alstom will also execute the power supply contract and equip Line 3 with Urbalis 400, its latest generation of CBTC signalling technology. The scope of the signalling contract includes unattended train operation (UTO), computer-based interlocking and centralised train supervision; an integrated telecom solution comprising of CCTV, passenger information, passenger annoncement and Giga bit network; platform screen doors, as well as the electrical and mechanical supervisory control and data acquisition system (E&M SCADA).
Speaking on the occasion, Alain Spohr, Managing Director of Alstom India and South Asia said, “This will be the new face of transportation for the commercial capital of India. Mumbai is a global city and it is set to get a world-class metro experience. The trainsets are custom-designed for Mumbai. Themed on Dynamic Fluidism that takes inspiration from the city, the train prioritises high interior density layout to maximise space efficiency. The trainsets will be able to accomodate at least 3000 people on a single trip, easing daily commute for Mumbaikars.”
He further added, “As announced earlier, we are on track to double our manufacturing capacity at SriCity – from 240 to 480 trainsets per annum. The factory is currently executing orders for Chennai Metro, Montreal Metro (Réseau Express Métropolitain) and Mumbai Metro Line 3. Alstom recently won a contract with Sydney’s NRT to supply the rolling stock and signalling system for the next stage of Sydney Metro. 23 six-car fully-automated Metropolis trains for the project will be manufactured at our SriCity facility.”
The Aqua Line trainsets will feature a host of safety elements including CCTV cameras, smoke detectors, emergency intercoms, fire extinguishers with wider detrainment doors to quickly evacuate passengers in case of an emergency. The inclusive design of trainsets will serve to the differently-abled individuals with ease of travel and includes dedicated space for wheelchair in every car. The overall exterior and interiors of the trainset are inspired by the undying energy of Mumbai and its people who are always on the move and hustle all day long.
Alstom will also train maintenance and operations staff for the project. It is also the first time that any metro train in India will have 75% motorization, enabling quick acceleration and deceleration thereby bringing about greater efficiency in operations. The trains will also be equipped with regenerative braking system aiding significant reduction in carbon emissions. In addition to the above features, it is the first UTO (Unattended Train Operation) project in Mumbai.
