The G-EUPH British Airways Airbus A319-131 makes its final approach for landing at Toulouse-Blagnac airport, France, March 20, 2019. REUTERS/Regis Duvignau/Files
(Reuters)
– IAG said on Monday British Airways’ finance chief Steve Gunning will
replace company veteran and chief financial officer Enrique Dupuy de
Lôme, who steps down after more than eight years in the role.
Gunning,
who joined British Airways in 1998 and has been its CFO since January
2016, will take over from de Lôme at IAG’s annual general meeting in
June, the company said.
“After
eight years as CFO of IAG and prior to that, 20 years as CFO of Iberia,
I believe now is the right time for me to leave IAG,” de Lôme said.
IAG did not immediately respond to a request for comment on the reason for de Lome’s departure.
Gunning takes the role as the airline industry braces for a potential hit from Britain’s impending exit from the European Union.
Shares of IAG jumped to session highs after the announcement and were last up 1.1 percent at 548.4 pence on London’s main index.
(Reporting by Shashwat Awasthi and Noor Zainab Hussain in Bengaluru; Editing by Bernard Orr)
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.
OSLO
(Reuters) – Norwegian Air’s shareholders overwhelmingly endorsed on
Tuesday the lossmaking airline’s plan for a deeply discounted cash call
to help bolster its finances, Chairman Bjoern Kise said.
Norwegian
Air said on Jan. 29 it would raise 3 billion Norwegian crowns ($348
million) in a rights issue, just days after British Airways owner IAG
ruled out a bid for the budget carrier.
Norwegian
is trying to replicate on transatlantic flights the low-cost model that
dominates the short-haul market, exemplified by the likes of Ryanair
and easyJet, but is struggling to make the business profitable.
The
European airline sector faces overcapacity and high fuel costs, with
several operators going out of business, the latest being British-based
Flybmi which filed for bankruptcy on Sunday.
In
the rights issue, Norwegian’s owners will get the right to buy two new
shares at 33 crowns each for every share they own, compared with
Monday’s closing price of 93 crowns.
Holders of more than 99 percent of Norwegian’s equity backed the proposal at a meeting on Tuesday, company officials said.
By
selling new shares far below the market price, Norwegian will boost the
value of each of the purchasing rights, which can be bought and sold.
This
in turn allows Norwegian Air Chief Executive Bjoern Kjos and his
business partner, the group’s chairman, to sell some of their
subscription rights and reinvest the proceeds in new shares, thus
limiting the dilution of their joint stake which stands at 24.66
percent.
Norwegian said last month that billionaire investor John Fredriksen was among those who had agreed to take part in the issue.
($1 = 8.6295 Norwegian crowns)
(By Terje Solsvik, Editing by Nerijus Adomaitis and David Holmes)
In keeping with todays architecture theme, reporter India Block picks 10 of the year’s best skyscrapers for our review of 2018, from one sporting a 100-metre-high waterfall to the northernmost tower block in the world.
Towering 170 metres over Milan, the Generali Tower expresses Zaha Hadid Architects’ signature curves in a helical twist that runs through the tower.
No two floors are aligned inside the 44-storey skyscraper, hence the nickname “the twisted one”. Now the city’s third-tallest building, it stands together with Arata Isozaki’s 202-metre high Allianz Tower and the incomplete 175-metre tall PwC tower by Studio Libeskind on Milan’s former expo site.
