Tag: plan (Page 6 of 10)

Boeing Suppliers Hexcel & Woodward Scrap Merger Plan

April 7, 2020 / WIL BALDWIN

(Reuters) – Boeing Co suppliers Hexcel Corp and Woodward Inc on Monday called off their planned all-stock merger as widespread travel bans to curb the coronavirus pummels demand in the aerospace sector.

The companies, which make and supply aircraft parts, had agreed to a merger in January in a $6.4 billion deal.

“Although we are disappointed with this outcome, we are confident this is the right decision for our customers, our shareholders, and our employees,” the companies said in a joint statement.

The market rout triggered by the coronavirus pandemic and the resulting economic downturn has thrown a wrench into corporate deal making. Last month U.S. printer maker Xerox Holdings Corp walked away from its $35 billion hostile cash-and-stock bid for HP Inc.

Boeing, which halted the production of its grounded 737 MAX aircraft in January, said on Sunday it would extend the suspension of production at its Washington state facilities until further notice.

Boeing is Hexcel’s second-biggest customer, accounting for a quarter of the company’s annual sales. Hexcel also supplies Airbus SE.

Woodward gets about 15% of its annual sales from Boeing, its biggest customer.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Shounak Dasgupta and Devika Syamnath)

Nova Group Makes Space for Growth Plan

March 24, 2020 / WIL BALDWIN

Global defence company Nova Group is maintaining its projections of over $200 million revenue this financial year with longer-term goals to continue expanding its global reach. A newer focus on space is continuing to diversify the portfolio of the South Australian headquartered company that has invested more than $20 million on eight acquisitions across the globe to cement its footprint.

In South Australia, the company’s new Nova IGS Network is providing space ground connectivity for small satellite operators with the site now being used by international clients including Tyvak USA and RBC USA. Nova is also in talks with an Italian-based space company wanting to expand its presence in Australia.

Based on a 21 hectare site in Peterborough in South Australia’s mid north, the site is used to track low earth orbit satellites through customer’s own terminals and Nova has plans to attract further European companies over upcoming years. “Nova is also planning to utilise the site as a ground station test bed for emerging Space 2.0 technologies and support future defence projects,” a spokesman said. “Peterborough provides the vital ground segment element in order to allow satellite operators to downlink/download their data.”

Nova Group is marking 20 years in business, with Nova Systems founded by Jim Whalley and Peter Nikoloff and originally offering flight-testing services in South Australia’s capital city of Adelaide. It has since grown to having 600 employees working on projects around the world including with the Australian Defence Force, United Kingdom Ministry of Defence, Royal Norwegian Air Force and the Republic of Singapore Air Force. “With a solid foundation in the defence markets in Australia and the UK, and a footprint in space, transport and energy, I am very proud to be exporting Australian capability and know-how to the world and look forward to positioning to our next growth phase,” Whalley said. Nova was recently awarded one of four industry leads in the Major Service Provider consortium providing integrated support contracts to the Australia Defence Force over the next 10 years.

Airbus & Texas DPS Explain Large-Scale Search and Rescue Operations

February 24, 2020 / WIL BALDWIN

Article by Belén Morant, Media: Airbus Helicopters; Jonny Carroll; DTX Media

Tim Ochsner, Chief Pilot of the Texas Department of Public Safety (DPS), explains the key to the success of the SAREX (search and rescue exercise)

When it comes to offering an adequate, effective and rapid response to natural disasters there’s no room for improvisation, particularly when a number of different agencies are involved. Tim Ochsner, Chief Pilot of the Texas Department of Public Safety (DPS), explains the key to the success of the SAREX (search and rescue exercise) conducted by more than 20 different agencies since 2015, which has now established itself as the benchmark for rescue training in the US.

How did the need arise to organise rescue training on such a large scale as SAREX?

In 2011, the state of Texas had huge problems with wildfires, and the following years we had two major floods. All the agencies equipped with aerial capability for these kinds of situations were involved: the Army with their Lakotas, our local EMS agencies, the Austin Police Department with their H125 and San Antonio Police Department with an H125 as well…

We all quickly formed a team and worked together out of necessity due to the flooding. We didn’t have time to set much up – we just did it.

After those events, we thought we needed to come up with a better plan for training, establish a communication plan and standard operating procedures. We had to establish a cooperation framework that was independent to the parties we tend to work with, because at the end of the day these things can change. That’s how the SAREX exercise came about.

Click the link for the full story, more pictures, and a video! https://www.airbus.com/newsroom/stories/sarex.html

India Renews Plan to Sell Off Air India

January 27, 2020 / WIL BALDWIN

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 …

Including 1,850 pilots.

Kobe Bryant Dies in California Helicopter Crash

January 27, 2020 / WIL BALDWIN

The sports world was in mourning following news Sunday that Kobe Bryant, his daughter Gianna, and seven other people died died in a helicopter crash. Weather is believed to have been a contributing factor in the accident, as the conditions at the time were poor. The National Transportation Safety Board has sent a team of investigators to the site.

The helicopter reportedly departed John Wayne Airport in Orange County at 9:06 a.m. local time. The group was heading to the Mamba Sports Academy in Newbury Park. The Federal Aviation Administration reported that no flight plan had been filed. The Sikorsky S-76B helicopter was flying in low clouds and fog, and was operating under “special VFR” (special visual flight rules) status, requiring the pilot to be responsible for determining safe flying requirements in challenging weather conditions..

The helicopter crashed in foggy conditions on steep terrain in the mountains near Las Virgenes Road in Calabasas, California. The crash was reported to the Los Angeles County Fire Department. The crash set off a small brush fire in the area. Firefighters were able to contain the blaze, but were not able to find any survivors.

Kobe Bean Bryant, born 23 August 1978; died 26 January 2020

Ford Expects $2.2 Billion Pre-Tax Hit Related to Pension Plans in fourth quarter

January 22, 2020 / WIL BALDWIN

FILE PHOTO: The corporate logo of Ford is seen at Brussels Motor Show

(Reuters) – Ford Motor Co <F> said on Wednesday its fourth quarter results will be hit by a pre-tax loss of about $2.2 billion (1.7 billion pounds) due to higher contributions to its employees pension plans.

The charge is largely related to a drop in discount rates, the company said, as that leads to an increase in the amount of money to be contributed for future pension benefits.

The U.S. automaker said it will record a $2 billion loss related to pension plans outside the United States and a $600 million loss associated with other post-retirement employee benefits plans globally.

However, the overall loss was offset by a $400 million gain associated with pension plans in the United States.

On an after-tax basis, the loss is expected to reduce Ford’s net income by about $1.7 billion in the fourth quarter. The loss will not impact the adjusted earnings per share as it is a special item, the company said.

(Reporting by Dominic Roshan K. L. in Bengaluru; Editing by Arun Koyyur)

Jet Airways to Sell Netherlands Business to KLM

January 16, 2020 / WIL BALDWIN

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)

JetBlue to Become Carbon Neutral in 2020

January 6, 2020 / WIL BALDWIN

(Reuters) – JetBlue Airways Corp on Monday said it plans to become carbon neutral on all domestic flights by July 2020 and would use an alternative fuel source for flights leaving from San Francisco amid rising pressure to cut greenhouse emissions.

The aviation industry has been trying to combat climate change by trying to cut its greenhouse gas emissions in half by 2050 compared with 2005 levels and sees the emergence of lower-carbon biofuels as a vital step towards meeting this goal.

The industry’s plan rests on a mix of alternative fuel, improved operations such as direct flight paths, new planes and other technologies.

JetBlue in its attempt to reduce greenhouse gas emissions will favor renewable sources and will start using sustainable aviation fuel in mid-2020 on flights from San Francisco International Airport.

“By offsetting all of our domestic flying, we’re preparing our business for the lower-carbon economy that aviation – and all sectors – must plan for,” Chief Executive Officer Robin Hayes said in a statement.

JetBlue declined to give details about the cost of the exercise. It did not disclose if any other airports will be a part of the plan to reduce greenhouse gas emissions.

Sustainable-fuel, derived from sustainable oil crops or from wood and waste biomass, would have the single largest impact in reducing emissions from each flight by around 80%, but is in short supply, according to the International Air Transport Association (IATA).

(Reporting by Sanjana Shivdas in Bengaluru; Editing by Amy Caren Daniel and Aditya Soni)

A JetBlue aircraft comes in to land at Long Beach Airport in Long Beach

Toyota to Build Prototype City of the Future in Japan

January 6, 2020 / WIL BALDWIN

Akio Toyoda, president of Toyota Motor Corporation, speaks at a news conference, where he announced Toyota’s plans to build a prototype city of the future on a 175-acre site at the base of Mt. Fuji in Japan, during the 2020 CES in Las Vegas

LAS VEGAS (Reuters) – Toyota Motor Corp <TM> said on Monday it plans to build a prototype “city of the future” at the base of Japan’s Mt. Fuji, powered by hydrogen fuel cells and functioning as a laboratory for autonomous cars, “smart homes,” artificial intelligence and other technologies.

Toyota unveiled the plan at CES, the big technology industry show. The development, to be built at the site of a factory that is planned to be closed, will be called “Woven City” – a reference to Toyota’s start as a loom manufacturing company – and will serve as a home to full-time residents and researchers.

Toyota did not disclose costs for the project.

Executives at many major automakers have talked about how cities of the future could be designed to cut climate-changing emissions from vehicles and buildings, reduce congestion and apply internet technology to everyday life. But Toyota’s plan to build a futuristic community on 175 acres (71 hectares)near Mt. Fuji is a big step beyond what rivals have proposed.

The proposal highlights not only Toyota Chief Executive Akio Toyoda’s ambition, but also the financial and political resources Toyota can bring to bear, especially in its home country.

Toyota expects 2,000 people will live at the city initially, with construction slated to start next year. Toyoda called the project “my personal ‘field of dreams.’

“You know if you build it, they will come.”

Toyota said it has commissioned Danish architect Bjarke Ingels to design the community. Ingels’ firm designed the 2 World Trade Center building in New York and Google’s offices in Silicon Valley and London.

Toyota said it is open to partnerships with other companies that want to use the project as a testing ground for technology.

(Reporting by Jane Lanhee Lee and David Shepardson; Writing by Joe White; Editing by Dan Grebler)

Watch the 30 second Woven City YouTube video by clicking HERE!

Russia’s St Petersburg Airport Expects to Host Ryanair, Others in 2020

December 26, 2019 / WIL BALDWIN

MOSCOW (Reuters) – Low-cost airline Ryanair and other budget carriers are expected to start flying from Russia’s St Petersburg airport in 2020, the Russian Transport Ministry said.

The move is part of Russia’s plan to boost tourist flows to St Petersburg and will mean more competition for Russian air carriers, including national flag carrier Aeroflot.

The ministry said on Tuesday that Ryanair, EasyJet, WizzAir, Volotea, Air Baltic and Fly One had expressed interest in flights from St Petersburg’s Pulkovo airport, Russia’s fourth largest after Moscow’s three major hubs.

It said the companies had applied for flights from Pulkovo, coded LED by the International Air Transport Association, to 22 countries, including Britain, Germany and France.

Russia will introduce a so-called “Open Skies” regime for the companies for five years, the ministry said, allowing airlines to fly to St Petersburg without requiring the traditional bilateral inter-governmental agreements.

The move follows the introduction of a special electronic visa system for tourists visiting St Petersburg which nationals from 53 countries can take advantage of.

(Reporting by Gleb Stolyarov; Writing by Andrey Ostroukh,; Editing by Andrew Osborn and Ed Osmond)

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