Tag: executive (Page 8 of 16)

Ford’s Vehicle Sales in China Tumble for Third Consecutive Year

January 12, 2020 / WIL BALDWIN

SHANGHAI (Reuters) – Ford Motor Co’s <F> China vehicle sales fell for a third consecutive year, by 26.1%, as it battles a prolonged overall sales decline in its second-biggest market that has hit demand for its mass-market Ford brand and sports utility vehicles.

The U.S. automaker delivered 146,473 vehicles in China in the fourth quarter, down 14.7% year-on-year, Ford said in a statement. In total, it sold 567,854 vehicles over 2019.

Ford has been trying to revive sales in China after its business began slumping in late 2017. Sales sank 37% in 2018, after a 6% decline in 2017.

Anning Chen, president and chief executive of Ford Greater China, said that while 2019 was a “challenging” year for the automaker, it saw its market share in the high-to-premium segment stabilize and its sales decline in the value segment start to narrow in the second-half of the year.

“The pressure from the external environment and downward trend of the industry volume will continue in 2020, and we will put more efforts into strengthening our product lineup with more customer-centric products and customer experiences to mitigate the external pressure and improve dealers’ profitability.”

The automaker plans to launch more than 30 new models in China over the next three years of which over a third will be electric vehicles. It has also said it would localize management teams by hiring more Chinese staff and aimed to improve relationships with joint venture partners.

New models it launched in the fourth quarter include a new Ford Escape version – for which the automaker said orders received so far have been much higher than expected – and the Lincoln Corsair, the first localized Lincoln model in China.

In China, Ford makes cars through a joint venture with Chongqing Changan Automobile Co Ltd and Jiangling Motors Corp Ltd (JMC). It has also said it would partner Zotye Automobile Co Ltd to sell lower priced cars.

Its larger U.S. rival General Motors Co <GM> last week said its sales in China fell 15% from a year earlier to 3.09 million vehicles in 2019, its second year of decline.

China’s auto market is set to contract by 2% in 2020 for the third year of decline, the China Association of Automobile Manufacturers (CAAM) forecast, due to a weaker economy and trade dispute with the United States.

Over 28 million vehicles were sold in 2018, down 3% from the prior year, while 2019 sales are likely to have declined 8% from the prior year, CAAM said.

(Reporting by Brenda Goh and Yilei Sun; Editing by Christian Schmollinger and Christopher Cushing)

A Ford model is seen during the China International Import Expo (CIIE), at the National Exhibition and Convention Center in Shanghai

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!

Ryanair’s O’Leary Prepared for More 737 MAX Delays

January 3, 2020 / WIL BALDWIN

FILE PHOTO: Michael O’Leary of Ryanair at the Four Courts in Dublin

BERLIN (Reuters) – Ryanair <RYAAY> is prepared for further delays to the delivery of its Boeing <BA> 737 MAX airliners, its chief executive Michael O’Leary told German magazine Wirtschaftswoche, adding that he would only discuss compensation after the aircraft had been delivered.

The 737 MAX airliner has been grounded since March following two crashes which claimed 346 lives.

One of the world’s largest airlines, Ryanair has ordered 135 of the jets.

“We were meant to have 58 planes by the summer,” O’Leary said in the interview, extracts from which were published on Friday. “That went down to 30, then 20, then 10 and the latest is maybe only five. It’s possible we’ll only get the first jets in October 2020.”

In contrast to other airlines, including Turkish, Southwest Airlines <LUV> and Germany’s TUI <TUIFY>, which have already agreed compensation with Boeing, O’Leary added that he would only discuss compensation after the planes were delivered.

(Reporting by Thomas Escritt; editing by Thomas Seythal)

ATR Delivers First Ever Green Financed Aircraft

December 21, 2019 / WIL BALDWIN

First of five new 72-600 orders by Braathens Regional Airlines

ATR, world number one regional aircraft manufacturer, today delivered the first ever green financed aircraft to Swedish regional airline Braathens Regional Airlines, BRA. The aircraft is leased from Avation and is financed by Deutsche Bank. It is part of a new order for five 72-600s, all purchased by Avation from ATR and leased to BRA. Upon completion of the order in early 2020, the airline will itself operate an entirely ATR fleet, comprised of 15 ATR 72-600 aircraft.

Vigeo Eiris, one of the world’s leading independent agencies providing Environmental, Social and Governance (ESG) ratings, expressed the opinion that the project of replacing ageing regional jets with new ATR 72-600 aircraft is aligned with the Green Loan Principles (GLP) established by the Loan Market Association in 2018.

This first ever Green Financing of an aircraft confirms the high sustainable value of the modern ATR turboprop aircraft. The ATR 72-600 aircraft has a significant environmental advantage over regional jets and other turboprops emitting 40% less CO2. Turboprops are more efficient than jets on short sectors as they accelerate air using less power, so use less fuel.

BRA CEO, Geir Stormorken, remarked: “We have made a commitment to decrease our environmental impact and the ATR is an essential part of our strategy. With that as a goal, it simply makes sense to choose the most efficient aircraft. By replacing parts of our existing fleet of regional jets with ATR 72-600 aircraft we will emit 7,500 fewer tonnes of CO2 per aircraft, per year. We believe that aviation is an essential part of Sweden’s regional transport network and we look forward to showing our passengers and the Swedish public at large that there is a sustainable way of flying.”

Executive Chairman of Avation, Jeff Chatfield, commented: “As a lessor, it is essential for us to progress our fleet into new technology low carbon emission aircraft such as the ATR 72-600 which maintain their value over a long period. ATR is one of the best assets in terms of residual value retention in the business. BRA’s decision to consolidate their own operation around the ATR 72-600 aircraft type demonstrates their understanding of the regional aviation market and the importance of reducing carbon emissions. BRA is an airline that is leading the way in terms of striving to offer their passengers the best possible experience, whilst optimising operations and minimising environmental impact.”

“Deutsche Bank is proud to have played a key role in the first green financing of a commercial aircraft,” said Richard Finlayson, Deutsche Bank Head of Global Transportation Finance, Asia. “We’re hopeful that this leads the way for more sustainable financing activity in aviation, and increased adoption of lower carbon emission aircraft across the industry, to help make flying more eco-responsible.”

Stefano Bortoli, Chief Executive Officer of ATR, said: “It is only natural that the first Green Financing deal for a commercial aircraft would involve an ATR and BRA. Thanks to the innovation of the ATR design, it inherently benefits from its lighter fuselage and the efficiency of its turboprop, meaning it burns less fuel and emits less CO2. It also makes sense that BRA, the leading voice on responsible regional flying in Sweden, would upgrade its own fleet to an all ATR 72-600 one, benefitting from these advantages compared to its rivals. We are proud to launch Green Financing in commercial aviation and lead the way in terms of innovation and sustainable regional aviation. We are thankful to Avation for having the foresight and flexibility to establish the operating lease for this series of aircraft deliveries.”

About Braathens Regional Airlines
Braathens Regional Airlines, is one of Sweden’s leading domestic airlines, with a Swedish market share of 30 percent. Braathens operates 26 routes to 17 destinations and carries more than 2,2 million passengers annually. Braathens’ On Time Punctuality is outperforming all other airlines in the world. In 2016, 2017 and 2018, BRA was awarded as the airline with the most satisfied passengers in Sweden. The airline was formed in 2016 after consolidation of several domestic air carriers, but the company’s aviation DNA reaches back to 1946 when the very first airline of the Braathen family was founded, Braathens S.A.F.E.

Mongolian Airlines to Welcome First Boeing 787-9 Dreamliner

December 19, 2019 / WIL BALDWIN

The Dreamliner will open direct flights between Ulaanbaatar, Berlin, Paris and the West Coast of the U.S.

MIAT Mongolian Airlines (Mongolyn Irgenii Agaaryn Teever) will soon welcome the first Boeing 787-9 Dreamliner to its fleet, as the airline looks to connect its home base in Ulaanbaatar with major European and North American cities beginning in 2021.

The 787-9 – the longest-range version of Boeing’s Dreamliner widebody airplane – will join MIAT’s fleet via lease from Air Lease Corporation.

“Our vision is to become a globally recognized Mongolian national flag carrier, and we are making a significant step forward by adding the first 787-9 Dreamliner to our fleet,” said Battur Davaakhuu, President and CEO, MIAT Mongolian Airlines. “The Mongolian Dreamliner will fly our passengers direct and in unmatched comfort to their dream destinations. Today is a proud day for MIAT and for all Mongolians.”

The Mongolian flag carrier joins other airlines in Asia – including Hainan Airlines, All Nippon Airways and Vietnam Airlines – that operate long-distance routes using the super-efficient, long-range 787-9. The airplane can fly up to 7,635 nautical miles (14,140 km).

Los Angeles-based ALC purchased the airplane and is providing a long-term leasing agreement for its delivery to MIAT.

“ALC is honored to announce this significant lease placement with MIAT Mongolian Airlines and be the first to introduce the airline to the Dreamliner,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “We are proud to support the national carrier as it expands its fleet with the most technologically advanced aircraft to connect Mongolia with the rest of the world.”

Since the 787’s introduction in 2011, Boeing has booked over 1,400 orders from more than 80 customers. The company will now count MIAT as its newest Dreamliner operator.

“It will be wonderful to see the 787 Dreamliner in MIAT Mongolian Airlines’ livery flying in and out of Ulaanbaatar and connecting Mongolia with key destinations across Asia and Europe. The airline has continued to build on its proud aviation history by modernizing its fleet and operations. We are honored MIAT has selected the 787 and its superior fuel efficiency and range to profitably grow their international network,” said Ihssane Mounir, senior vice president of Commercial Sales and Marketing at Boeing. “We are delighted to partner with leading lessor ALC, which has a tremendous portfolio of 787 Dreamliners and other advanced jets, to open a new chapter in MIAT’s history.”

The 787 Dreamliner – the fastest-selling widebody jet in history – allows airlines to reduce fuel use and emissions by 20 to 25 percent and serve far-away destinations. The combination of unrivaled fuel efficiency and long range has helped airlines save more than 36 billion pounds of fuel and opened more than 235 nonstop routes.

MIAT is a leading national carrier dedicated to connecting Mongolia with the rest of the world by providing air transportation services of the highest quality, reliability and efficiency. Based in Ulaanbaatar, the airline currently operates a fleet of four Next-Generation 737s, one 737 MAX and two 767 airplanes.

Boeing is the world’s largest aerospace company and leading provider of commercial airplanes, defense, space and security systems, and global services. As the top U.S. exporter, the company supports commercial and government customers in more than 150 countries. Boeing employs more than 150,000 people worldwide and leverages the talents of a global supplier base. Building on a legacy of aerospace leadership, Boeing continues to lead in technology and innovation, deliver for its customers and invest in its people and future growth.

Norwegian Air Hoping for Boeing 737 MAX Compensation This Year

December 19, 2019 / WIL BALDWIN

OSLO (Reuters) – Norwegian Air <NWARF> hopes to agree compensation from Boeing <BA> by year-end over the grounding of the 737 MAX, the airline’s acting CEO said, as it counts the costs of having 18 of the aircraft grounded since March.

“The dialogue (with Boeing) has been ongoing since summer and we hope to come to an understanding before the end of the year,” acting Chief Executive Geir Karlsen said in a podcast made on Dec. 11 and released by brokerage DNB Markets on Dec. 18.

Norwegian has 92 737 MAX aircraft on order.

“It’s about compensation and also about a new schedule of plane deliveries, as Boeing obviously can’t deliver in line with the contract … it’s a huge challenge for Boeing, and at the same time we also want the best possible outcome for ourselves,” Karlsen said.

(Reporting by Terje Solsvik, editing by Gwladys Fouche and Jason Neely)

Trump Called Boeing CEO to Inquire About 737 MAX Production Halt

December 19, 2019 / WIL BALDWIN

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)

Hokkaido Air Company Takes Delivery of 1st ATR 42-600

December 18, 2019 / WIL BALDWIN

Japanese regional operator starts fleet replacement with eco-responsible turboprop aircraft

World number one regional aircraft manufacturer ATR today delivered the first of two ATR 42-600 aircraft to Hokkaido Air System Co., Ltd (HAC), a JAL Group Company. This delivery marks the first step in HAC’s replacement of its Saab 340 fleet. The delivery of this aircraft will ensure that essential regional air connectivity in Hokkaido can continue.

The ATR 42-600 will offer HAC increased capacity for the same operating costs – generating opportunities for the airline to increase revenues. It will also provide HAC’s passengers with a modern, comfortable cabin featuring latest generation 18”-wide seats as well as more space for luggage in the overhead bins.

Tetsu Ohori, Chief Executive Officer of HAC said: “Today is a long-awaited day for us at Hokkaido Air System, and becomes a memorable day, marking a new chapter in our history. We have so many tourists who enjoy the fantastic ‘Mother Nature’ of Hokkaido. In winter, the great nature turns her face with severe cold and heavy snow. Even under such hard conditions, this ATR 42 will perform well and make our new business a success. I’m really looking forward to showing this wonderful aircraft to everyone in Hokkaido as soon as possible.”

ATR Chief Executive Officer Stefano Bortoli remarked: “Our aircraft makes perfect sense for the Japanese market. Japanese passengers, who are known to demand the very best in terms of comfort and eco-responsibility, will appreciate both the aircraft’s reduced emissions and modern comfortable cabin. This, plus the unbeatable economics and the need to maintain essential regional connectivity in Japan demonstrates why we are increasing our presence in the country.”

ATR’s market estimates forecast that around 900 30-50 seat aircraft will soon need to be replaced as older and inefficient aircraft come to the end of their lives. The ATR 42-600 is part of ATR’s unique family of regional aircraft, including the ATR 72-600, the ATR 42-600S (Short Take-Off and Landing) and the ATR 72-600F, the only brand new regional freighter. Together, they represent the ideal and modern solution to ensure that essential connectivity is maintained for local communities all over the world, while flying sustainably, emitting up to 40% less CO2 compared with regional jets.

About Hokkaido Air System Co., Ltd
Established on 30 September, 1997, Hokkaido Air System began operations on 28 March.1998, with Japan Airlines (57.3%), Hokkaido government (19.5%), Sapporo city (13.5%) as major shareholders. Hokkaido Air System operates three aircraft (SAAB340B-WT) and 26 daily departures on five routes; between Sapporo-Okadama and Rishiri/Kushiro/Hakodate/Misawa, Hakodate and Okushiri, based in Sapporo-Okadama airport.

Amazon Hires Sun Country to Fly Shipments

December 18, 2019 / WIL BALDWIN

Sun Country will start cargo service with a big first customer: Amazon
Minnesota airline will add 10 planes, 70 pilots under 6-year cargo service deal.

Amazon is hiring Sun Country Airlines to fly packages around the country, a windfall deal that thrusts the Minnesota carrier into the cargo business.

The six-year deal, announced Tuesday, will immediately create a massive expansion for Sun Country. From the first flights next spring, the new cargo service for Amazon Air will quickly grow to represent 20% of all of Sun Country’s flying.

It is the first time Amazon has hired a commercial passenger airline for air service.

Sun Country will add 10 airplanes to its fleet and hire an additional 70 pilots to its existing force of 350. The Twin Cities-based airline will also hire more maintenance workers and 20 to 30 headquarters staffers to support Amazon Air operations.

“These are pretty highly compensated positions. … We are very excited about this,” Jude Bricker, Sun Country’s chief executive, said Tuesday. “This is going to be a great growth opportunity for our company, and the important thing for the Twin Cities is it will make us a better airline for Minnesota leisure travelers.”

Click the link for the full story! http://www.startribune.com/sun-country-will-start-cargo-service-with-a-big-first-customer-amazon/566286912/

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