Leading long-range carrier builds future fleet with eight super-efficient 787-10s and includes options to increase number of aircraft to up to 20 Dreamliners
Largest Dreamliner model offers more seats and unmatched fuel efficiency, and environmental performance
SEATTLE, Sept. 25, 2019 /PRNewswire/ — Boeing [NYSE:BA] and Air New Zealand [NYSE:ANZLY] today finalized an order for eight 787-10 Dreamliner airplanes valued at $2.7 billion at list prices. The carrier, recognized for its long-range flights and global network, will integrate the largest Dreamliner model into its world-class fleet of 787-9 and 777 airplanes from 2022 to strategically grow its business.
The airplane deal, announced in May as a commitment, includes options to increase the number of aircraft from eight up to 20, and substitution rights that allow a switch from the larger 787-10 to smaller 787-9s, or a combination of the two models for future fleet and network flexibility.
“This is an exciting decision for our business and our customers as we deliver on our commitment to grow our business sustainably. With the 787-10 offering around 15 percent more space for both customers and cargo than the 787-9, this investment creates the platform for our future strategic direction and opens up new opportunities to grow,” said Air New Zealand Chief Executive Officer Christopher Luxon.
As the largest member of the passenger-pleasing and super-efficient Dreamliner family, the 787-10 is 224 feet long (68 meters) and can seat up to 330 passengers in a standard two-class configuration, about 40 more than the 787-9. Powered by a suite of new technologies and a revolutionary design, the 787-10 set a new benchmark for fuel efficiency and operating economics when it entered commercial service last year. The airplane allows operators to achieve 25 percent better fuel efficiency per seat compared to the previous airplanes in its class.
“Air New Zealand has made very strategic investments in advanced widebody aircraft to build on its status as a leading global carrier connecting the South Pacific with Asia and the Americas. We are very honored that Air New Zealand has selected to add the 787-10 and its unique capabilities to complement its long-haul fleet of 777 and 787-9 airplanes,” said Ihssane Mounir, senior vice president of Commercial Sales and Marketing, The Boeing Company.
Air New Zealand was a global launch customer for the 787-9 and today operates 13 of the Dreamliner variant. With another 787-9 on the way and the 787-10 airplanes in the future, the airline’s Dreamliner fleet is on track to grow to 22. The new Dreamliner aircraft will replace Air New Zealand’s fleet of eight 777-200ERs. Air New Zealand’s widebody fleet also includes seven 777-300ERs.
As part of its efforts to maintain an efficient and reliable fleet, Air New Zealand utilizes a number of Boeing Global Services solutions, including Airplane Health Management and Maintenance Performance Toolbox. These digital solutions provide maintenance data and decision support tools that enable aircraft maintenance teams to increase operational efficiency.
Once completed in 2023, the $2 billion transit hub will be the largest facility of its kind in the world with a vehicle leaving every two seconds at peak operations
Board of Airport Commissioners (BOAC) Commissioner Bea Hsu, BOAC Commissioner Gabriel Eshaghian, BOAC Vice President Valeria Velasco, BOAC President Sean Burton, Los Angeles World Airports (LAWA) Chief Executive Officer Deborah Flint, Councilmember Joe Buscaino, Mayor Eric Garcetti, Councilmember Mike Bonin, Deputy Mayor Billy Chun, Director of Economic Infrastructure -Office of Mayor Garcetti David Reich, LAWA Chief Operating Officer Justin Erbacci, LAWA Chief Development Officer Bernardo Gogna and LAX ConRAC Partners Project Executive Karl Schaefer.
(Los Angeles, CA) Mayor Eric Garcetti broke ground today on the Consolidated Rent-A-Car (ConRAC) facility at Los Angeles International Airport (LAX), which will centralize rental car operations into one convenient location and offer a direct connection to the upcoming Automated People Mover (APM) train. The Mayor was joined at the ceremony by Councilmembers Mike Bonin and Joe Buscaino, Los Angeles County Supervisor Mark Ridley-Thomas, Board of Airport Commissioners (BOAC) President Sean Burton, and Los Angeles World Airports (LAWA) CEO Deborah Flint, as well as community and labor leaders.
“We are building the world-class airport travelers need and deserve — and the Consolidated Rent-A-Car facility groundbreaking demonstrates how we’re keeping this promise,” said Mayor Garcetti. “Our city is doing so much more than building a parking structure — we are making an investment that will improve the traveling experience, reduce congestion in surrounding neighborhoods, and create middle-class careers for years to come.”
Since taking office, Mayor Garcetti has led a more than $14 billion transformation of LAX that began in 2009. Mayor Garcetti’s historic infrastructure investments have strengthened working families and the middle class. Under his leadership, unemployment has been cut in half while close to 200,000 new jobs have been created. Construction of the ConRAC is expected to create more than 1,000 jobs.
The 5.3 million square foot ConRAC facility will feature 18,000 parking stalls with 6,600 ready/return spaces, 10,000 idle vehicle storage spaces, and 1,100 rental car employee spaces as well as visitor parking. A Quick-Turn Around facility will also be on-site, allowing for fueling, washing, and light maintenance of rental car vehicles.
Mayor Eric Garcetti provides remarks during the groundbreaking ceremony.
Reducing congestion at LAX — as well as in surrounding communities — is at the heart of the ConRAC project. The consolidated facility will completely remove rental car shuttle traffic from the Central Terminal Area (CTA), which equates to 3,200 shuttle trips per day. The removal of the shuttles will improve traffic on the roadways and free up critical curbside boarding space in the CTA.
“This is a big step toward LAX becoming a world-class airport for travelers and a first-class neighbor to Westchester and Playa del Rey,” said Councilmember Mike Bonin. “Especially once it is connected to the new Automated People Mover, this new Consolidated Rent-A-Car Facility will reduce the number of shuttles and vans navigating the Central Terminal Area and nearby neighborhoods, improving both local traffic and air quality. That is a big win and exciting progress to celebrate.”
“This has been a momentous year for LAX,” said Councilmember Joe Buscaino. “LAX continues to move full steam ahead with its $14 billion investment to create a fully transformed airport of the future. The ConRAC is just one of the many groundbreakings held this year which highlight the efforts LAX is making to improve passenger experience which increases tourism and improves our local economy.”
As the second largest rental car market among domestic airports, the ConRAC will improve and streamline the car rental process at LAX. The facility will be built with an eye to the future and designed to accommodate new and emerging vehicle types such as autonomous vehicles. Additionally, movable concrete barriers will allow for the quick reallocation of space as rental car companies’ market shares shift.
The ConRAC is an important component of the Landside Access Modernization Program (LAMP), which also includes an Automated People Mover train that will connect travelers directly to airport terminals and create new and convenient locations for passenger pick-up and drop-off outside the Central Terminal Area. Once completed in 2023, the APM will connect with L.A. Metro’s light rail system.
Rendering of the ConRAC Facility at night.
“The ConRAC Facility will provide a rental car experience worthy of a world-class airport,” said BOAC President Sean Burton. “This project doesn’t just benefit those renting cars — it benefits the local economy and community through the creation of 1,000 jobs and by relieving vehicle congestion on the roads in and around LAX.”
“We are future-proofing everything we build at LAX,” said Deborah Flint, CEO, LAWA. “Every project under construction or on the drawing board will meet our needs now and be capable of adapting to new technology and demands. The ConRAC Facility is a prime example of how to future-proof so we can protect our investments.”
On October 26, 2018, the Los Angeles City Council approved an approximately $2 billion public-private partnership between LAWA and LAX ConRAC Partners (LAXCP), with LAXCP designing, building, financing, operating, and maintaining the facility for a 28-year period. LAXCP has committed to 30% local hiring, which exceeds local hiring requirements, and together with LAWA is developing opportunities for local small businesses. LAXCP has also agreed to sponsor 100 new, local apprentices and feature all-union labor on the ConRAC facility.
“Collectively, the LAXCP team has extensive experience designing, building, and operating nearly 30 ConRACs domestically and internationally,” said Karl Schaefer, LAXCP Project Executive. “We are proud to use our shared know how to help LAWA create a top tier experience for the traveling public at LAX while we honor our commitment to provide local hire economic opportunities and environmental sustainability.”
Mayor Garcetti has made sustainability a priority of his administration. The ConRAC facility is designed to reflect Los Angeles’ standing as one of the world’s leading sustainable cities and will include native drought-tolerant landscaping, reclaimed water usage, more than 200 Level 2 electric vehicle chargers, and a solar farm generating over 8,400 megawatt hours annually.
Comlux has placed a new order for an ACJ320neo, re-affirming its role as the largest single customer for the aircraft and taking its total orders for the type to four. The deal means that Comlux has now ordered a total of 20 Airbus corporate jets. Cabin outfitting will be done by Comlux Completion in Indianapolis.
“Airbus and Comlux have both made a business out of setting new standards, of which the ACJ320neo and our growing fleet of them are the latest examples,” said Comlux Chairman and CEO Richard Gaona. “We are already the largest customer for ACJ320neo Family aircraft, all powered by the new CFM International LEAP-1A engine. Together with our extensive outfitting experience, plus four NEO cabins booked for completion at our centre in Indianapolis, we are in a leading position.”
The ACJ320neo is derived from the Airbus A320neo Family, which features new engines and wingtip-mounted Sharklets.
“Time-saving comfort and aircraft availability are vital in the corporate jet world, and our airliner heritage enables us to deliver more of these with the ACJ320neo Family than anyone else plus the benefit of unbeatable life-cycle costs,” said ACJ President Benoit Defforge.
Corporate jet orders and commitments for A320neo Family-derived aircraft now total 15.
The ACJ319neo flies eight passengers 6,750 nm/12,500 km or more than 15 hours, while the ACJ320neo can transport 25 passengers 6,000 nm/11,100 km or more than 13 hours.
Both aircraft capitalise on the modern design of the A320 Family and its airliner heritage, which bring the enhanced protection of fly-by-wire controls, the cost and time-saving benefits of centralised maintenance. This means the aircraft hold their value better over time.
Airlines and corporate jet customers have ordered almost 15,000 A320 Family aircraft to date, with more than 800 of the new A320neo version already serving airlines worldwide.
Around 200 Airbus corporate jets are in service worldwide, flying on every continent, including Antarctica.
About Airbus Corporate Jets
Airbus Corporate Jets (ACJ) creates the world’s most rewarding flying experiences for customers by providing them with unique expertise, the finest service, best technology and highest standards of care in corporate aviation. All Airbus corporate jets come from the most modern aircraft family on the market, derived from Airbus’ successful market-leading jetliners.
Carrier to modernize its freighter fleet with six of the world’s largest, most capable twin-engine freighters
SEATTLE, Sept. 4, 2019 /PRNewswire/ — China Airlines finalized its agreement with Boeing [NYSE: BA] to order six 777 Freighters to modernize its cargo fleet. The carrier, which currently operates one of the world’s largest 747 Freighter fleets, plans to transition to the largest and longest range twin-engine freighters in the industry as it launches operations from Taipei to North America, a key market that provides higher yields for the carrier.
Valued at $2.1 billion according to list prices, China Airlines had previously announced its intent to order up to six 777 Freighters at the Paris Air Show in June. Three of the six 777 Freighter orders were confirmed in July and posted to Boeing’s Orders and Deliveries website as an unidentified customer. The remaining three will post during the next update.
The versatile 777 Freighter can fly long-range trans-Pacific missions in excess of 6,000 nautical miles with 20 percent more payload than other large freighters like the 747-400F. The airplane, which is capable of carrying a maximum payload of 102 tons, will allow China Airlines to make fewer stops and reduce associated landing fees on these long-haul routes. As a result, it will provide China Airlines and other operators with the lowest trip cost of any large freighter and deliver superior ton-per-mile economics. In addition, the 777 Freighter features market-leading capacity for a twin-engine freighter, accommodating 27 standard pallets, measuring 96 inches by 125 inches (2.5 m x 3 m) on the main deck. This allows for lower cargo handling costs and shorter cargo delivery times.
“Air cargo is an important part of our overall business and the introduction of these new 777 Freighters will play an integral role in our long-term growth strategy,” said China Airlines Chairman Hsieh Su-Chien. “As we transition our freighter fleet to the 777Fs, this will enable us to deliver world-class services to our customers more efficiently and reliably.”
China Airlines, which marks its 60th anniversary this year, currently operates 51 Boeing airplanes, including 10 777-300ERs (Extended Range), 19 Next-Generation 737s, four 747-400s and 18 747 Freighters.
“As China Airlines celebrates more than half a century of success, Boeing is honored to continue playing an integral role in its growth and expansion. With this order China Airlines will join an elite group of global air cargo operators operating new 777 Freighters,” said Ihssane Mounir, senior vice president of Commercial Sales and Marketing for The Boeing Company. “With the global air freight market forecasted to double over the next 20 years, the 777 Freighter’s market-leading capabilities and economics will help China Airlines extend their network and grow their future cargo business.”
The addition of 777 Freighters will enable the carrier to streamline maintenance and parts for its 777 fleet. The carrier uses a number of Boeing Global Services solutions to support its Boeing fleet operations, including Airplane Health Maintenance and Maintenance Performance Toolbox. These data-driven platforms track real-time airplane information, providing maintenance data and decision support tools that allow technicians to quickly and correctly resolve issues. On the ground and in the air, China Airline’s entire fleet uses Jeppesen FliteDeck Pro and access to digital navigation charts to optimize performance and enhance situational awareness.
HONG KONG, Aug 25 (Reuters) – The Chinese territory of Macau elected former legislature head Ho Iat Seng as its leader on Sunday – the sole approved candidate.
Ho, who has deep ties to China, is expected to cement Beijing’s control over the special administrative region and distance it from protests in neighbouring Hong Kong.
He secured 392 votes from a 400-member pro-Beijing committee to lead the world’s largest gambling hub for at least the next five years, public broadcaster TDM reported.
The 62-year-old’s highly scripted appointment comes as the former Portuguese colony tries to position itself as a beacon of stability and model for the Chinese government’s “one country, two systems” formula through which Beijing administers Macau and Hong Kong.
Although anti-government protests have roiled the former British colony of Hong Kong for nearly three months, Macau has seen little dissent to Beijing’s rule.
Ho said local youth could resist the influence of Hong Kong’s protesters and support measures to boost patriotism in Macau.
(Reporting by Farah Master; Editing by Raju Gopalakrishnan)
Delta to become largest U.S. carrier serving Haneda in 2020, with full transfer of U.S.-Tokyo services from Narita airport to Haneda
Airline will offer industry leading product, with unparalleled operational reliability and service on seven daily flights to Haneda from cities throughout the U.S.
Additional changes to intra-Asia flying include new Delta-operated Seoul-Manila service
Under a final decision announced by the U.S. Department of Transporation today, Delta will become the largest U.S. carrier serving Haneda, with seven daily flights between Haneda and Seattle, Detroit, Atlanta, Honolulu, Minneapolis, Los Angeles and Portland, Ore. With this change, Delta will transfer its full operation of U.S.-Tokyo services from Narita to Haneda, the city’s closest and most convenient airport, beginning in March 2020.
“We have proudly served Japan for more than 70 years and our commitment to our Tokyo legacy remains strong,” said Steve Sear, President – International and Executive Vice President – Global Sales. “This new service is a game-changer for Delta’s ability to offer competitive and comprehensive access to the city, which is one of the world’s most important business markets. It’s a win for our customers, giving them much quicker access to the city center, and it complements our overall strategy of growth across the Pacific.”
As part of its long-term Asia-Pacific network strategy, Delta will also adjust its network of flights beyond Narita. Effective March 2020, the carrier will suspend its NRT-MNL service and launch new daily ICN-MNL service operated by Delta. Serving Manila through Seoul will offer our customers superior connectivity via our industry-leading trans-Pacific hub in Seoul with our JV partner Korean Air.
While Delta will suspend Narita-Singapore service beginning Sept. 22, 2019, Delta customers can continue to reach Singapore – and more than 80 other destinations throughout Asia – through Seoul-Incheon via the airline’s partnership with Korean Air.
These moves are contingent upon securing viable operational slots.
Featuring state-of-the-art widebody aircraft and award-winning reliability, product and service, delivered by Delta people
All Delta aircraft between the U.S. and Tokyo feature the carrier’s premium Delta One experience, which includes a dedicated in-cabin flight attendant; a 180-degree flat-bed seat with direct-aisle access; extra-wide inflight entertainment screens; and seasonally rotating, chef-designed Delta One menus with the option to pre-select first choice of entrée, paired with wines hand-selected by Master Sommelier Andrea Robinson.
Aircraft on flights between Haneda and Seattle, Detroit, Minneapolis/St. Paul, Los Angeles and Atlanta also feature Delta Premium Select, Delta’s newest cabin experience that brings the “premium” back to premium economy with more space including a wider seat with additional recline and leg rest; elevated service including pre-departure beverage service; and distinguished amenities including a wider in-flight entertainment screen.
In addition to Delta’s award-winning operational reliability and service, all cabins of service on flights between the Haneda and the U.S. will include complimentary meals, snacks and beverages, including meals for all customers created in partnership with Michelin consulting chef Norio Ueno. This November, Delta is launching a first-of-its-kind bistro-style international Main Cabin experience featuring welcome cocktails, hot-towel service and mix-and-match options for premium appetizers and larger entrees.
All seats on all flights from the U.S. to Tokyo-Haneda will offer personal entertainment systems with free entertainment, free mobile messaging, high-capacity overhead bins, Wi-Fi, upgraded amenity kits and more. More international onboard enhancements are coming soon, like refreshed ear buds and headsets, to further demonstrate the airline’s commitment to creating a best-in-class experience all customers can look forward to.
DUBAI (Reuters) – Emirates will “work smart and hard” to improve its performance after the Gulf airline’s profit hit a decade low as soaring fuel costs and a strong dollar took a toll on earnings, while passenger growth stalled.
After years of growth, during which it has become one of the world’s biggest airlines as other long-established national carriers have struggled, Dubai-based, state-owned Emirates warned last week profit would be lower than previous years.
It revealed just how badly it had fared on Thursday, reporting a 69 percent fall in net profit to 871 million dirhams ($237 million) in the year to March 31.
Meanwhile, the number of passengers flying Emirates rose 0.2 percent to 58.6 million, its weakest growth rate in at least 15 years, while cargo increased 1.4 percent to 2.7 million tonnes.
Chairman Sheikh Ahmed bin Saeed al-Maktoum said in a statement that the year had been “tough”, with higher oil prices, a strong dollar and stiffer competition, adding “our performance was not as strong as we would have liked”.
While revenue at the airline rose 6 percent to 97.9 billion dirhams, its profit fell to its lowest level since 2009. And profit at Emirates Group, which includes other units, fell 43.7 percent to 2.3 billions dirhams, its lowest since 2012.
Despite the profit fall, Emirates said it will pay the Investment Corporation of Dubai a dividend of 500 million dirhams for the year.
“SMART AND HARD”
Sheikh Ahmed said it was difficult to predict the year ahead but Emirates would “work smart and hard to tackle the challenges and take advantage of the opportunities.”
Unfavorable currency moves in key markets cost Emirates $156 million, while operating costs rose 8 percent with the airline recording its biggest ever fuel bill of 30.8 billion dirhams.
Emirates filled an average of 76.8 percent of passenger seats, slightly lower than the previous year, while increasing the number of available seats by 4 percent.
Fare increases helped Emirates register a 3 percent increase in passenger margin, despite it filling fewer seats.
The number of airline employees fell by 2,074, or 3.3 percent. Overall group workforce rose 1.9 percent to 105,286.
Emirates agreed with Airbus in February to cancel dozens of A380 orders and buy smaller A350’s and A330’s as the planemaker scrapped production of the world’s largest passenger jet.
Emirates, which will take 14 more A380’s between this year and the end of 2021, is developing a new route network for a fleet that will include smaller aircraft, it said last week.
Reporting by Alexander Cornwell; Editing by Kirsten Donovan and Alexander Smith
FILE PHOTO: Emirates Airline Boeing 777-300ER planes are seen at Dubai International Airport in Dubai, United Arab Emirates February 15, 2019. REUTERS/Christopher Pike/File Photo
WASHINGTON (Reuters) – The Federal Aviation Administration said on Tuesday it had convened a multi-agency Technical Advisory Board to review Boeing’s proposed software fix on the grounded 737 MAX.
The board consists of experts from the FAA, U.S. Air Force, NASA and Volpe National Transportation Systems Center that were not involved in any aspect of the Boeing 737 MAX certification. The board’s recommendations will “directly inform the FAA’s decision concerning the 737 MAX fleet’s safe return to service.”
The plane was grounded worldwide in mid-March after two Boeing 737 MAX crashes in October and March killed 346 people.
Boeing, which has yet to formally submit the software fix to the FAA for approval, did not immediately comment Tuesday on the new review.
Some in Congress have urged the FAA to conduct an independent review into the anti-stall system at the center of investigations into two deadly plane crashes before allowing the planes to resume flying.
The board known as TAB will assess Boeing’s proposed fix to the Maneuvering Characteristics Augmentation System (MCAS), the FAA said.
“The TAB is charged with evaluating Boeing and FAA efforts related to Boeing’s software update and its integration into the 737 MAX flight control system. The TAB will identify issues where further investigation is required prior to FAA approval of the design change,” the FAA said.
The world’s largest planemaker, facing its worst crisis in years and the worldwide grounding of its top-selling jetliner, has said its software upgrade and associated pilot training will add layers of protection to prevent erroneous data from triggering MCAS.
The system activated in the Ethiopian Airlines crash in March and also during a separate Lion Air crash in Indonesia in October.
There are a number of other reviews ongoing, including a blue-ribbon committee appointed by Transportation Secretary Elaine Chao looking at the FAA’s aircraft certification process.
Federal prosecutors, the Transportation Department’s inspector general and lawmakers are investigating the FAA’s certification of the 737 MAX 8 aircraft.
A separate joint review by 10 governmental air regulators started last week and is expected to last about 90 days, but the FAA has said that a decision on ungrounding the plane is not contingent on that review being completed.
(Reporting by David Shepardson; Editing by Nick Zieminski)
(Reuters) – Boeing Co’s largest supplier Spirit AeroSystems Holdings Inc reported strong first-quarter results on Wednesday, while following the planemaker in suspending its full-year outlook in the face of the global grounding of 737 MAX jets.
The crisis with Boeing’s most popular aircraft has thrown into doubt orders for a raft of parts makers who have been investing heavily to meet record-breaking demand from the world’s biggest planemaker over the past two years.
Spirit, which makes fuselage, structural engine components and wing parts for the MAX, did a deal with Boeing last month to stick to its current parts delivery schedules for now, and its profits in the first quarter were up 30 percent, according to Wednesday’s quarterly results.
Boeing however has announced cutbacks in its monthly production of MAX jets to 42 from 52 and while it says it is nearing certification for a software fix for the jet, airlines are assuming the planes will not be back in the air before August.
Spirit said with the uncertainty around MAX production it could not stand by its previous full-year outlook which had factored production for MAX jets rising to 57 units per month in June.
“As we now expect to remain at 52 aircraft per month for some period of time, (prior) guidance does not reflect our current outlook,” Spirit Chief Executive Officer Tom Gentile said, adding he was waiting for more clarity from Boeing on MAX’s return to service.
MAX’s other major supplier General Electric Co, which makes engines with Safran SA of France, on Tuesday stuck to its full-year forecasts, while highlighting risk due to MAX’s reduced production.
Another MAX supplier United Technologies Corp last month included an up to 10 cents per share impact in its full-year profit outlook from the groundings of the jet, assuming Boeing produced at 42 aircraft per month for the rest of the year.
Spirit, whose shares are down about 10 percent since the fatal crash of the Ethiopian Airlines’ jet on March 10, rose as much as 3.5 percent to $89.96 in morning trade.
“Given that (Spirit’s) shares have already notably sold off, we think much of this … has been discounted into the price,” Vertical Research Partners Krishna Sinha said.
The company said it has taken actions including deferring capital investments and pausing hiring and share repurchases to mitigate the financial impact of the MAX production change.
On an adjusted basis, Spirit earned $1.68 per share, beating analysts’ average estimate of $1.64 per share, according to IBES data from Refinitiv.
Total revenue rose 13.4 percent to $1.97 billion (£1.51 billion), beating estimates of $1.93 billion.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Shounak Dasgupta)
April 29 (Reuters) – Canadian National Railway Co reported a 6 percent rise in quarterly profit on Monday, as it transported higher volumes of petroleum and chemical products.
U.S. listed shares of the company rose 2.1 percent in after-hours trading.
The company’s net income rose to C$786 million, or C$1.08 per share, in the first quarter ended March 31, from C$741 million, or C$1 per share, a year earlier.
However, excluding one-time items, the railroad company earned C$1.17 per share, missing the analyst average estimate of C$1.18, according to IBES data from Refinitiv.
Canada’s largest railway operator said total carloads, the amount of freight loaded into cars, rose less than a percent.
Operating ratio, a closely watched productivity metric that measures expenses as a percentage of revenue, rose to 69.5 percent from 67.8 percent a year earlier. The lower the ratio, the more efficient a railroad.
($1 = C$1.34)
(Reporting by Arundhati Sarkar in Bengaluru; Editing by Maju Samuel)
