Tag: Alberta

Alstom and partners celebrate Edmonton Valley Line Southeast LRT

November 6, 2023 / WIL BALDWIN

November 6, 2023 – Alstom SA (Paris: ALSO), global leader in smart and green mobility, celebrates the November 4 launch of the new Edmonton Valley Line Southeast LRT. This project was delivered by TransEd, a consortium comprised of Alstom, along with Bechtel, EllisDon and Fengate, contributing to the enhanced connectivity of Edmonton’s residents today and for the future. The city is expecting it to serve about 30,000 riders per day.

Under this partnership, Alstom played a pivotal role in the design, supply, installation and testing and commissioning of the LRVs, signalling, communications, power supply and distribution, overhead catenary system, and related depot equipment. This Turnkey project is a Public-Private Partnership (P3) that includes a now completed Design-Build stage, and an operation and maintenance (O&M) commitment extending until 2050.

Alstom also assumes a majority share in the joint venture responsible for the O&M of the system for TransEd. This includes maintaining the complete fleet, tracks, catenary, stations, maintenance facility and all other elements of the system, as well as all aspects of operating the fleet including crew training and dispatching, control room management, customer service and passenger experience. A team of more than 125 experts is devoted to delivering exceptional services to the Edmontonians. Notably, this represents the first LRT system where Alstom is involved in the complete O&M scope of the system.

The 26 Flexity LRVs, each capable of carrying up to 275 passengers along the 13 km system, offer a 100 per cent low-floor design, ensuring easy access and a comfortable ride for all passengers. Step-free boarding is an important part of this enhanced passenger experience for persons with reduced mobility, wheelchairs, mobility aids and strollers.

Alstom takes pride in designing and assembling these vehicles in Canada, creating good-paying Canadian jobs. With 4,500 employees in Canada, including those in Edmonton, Alstom is committed to delivering safe and reliable mobility solutions while actively fostering local supply chains and regional economies.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.

Flair Airlines Launches Edmonton to Quebec City Route

July 11, 2023 / WIL BALDWIN

EDMONTON, July 10, 2023 – Today, Flair Airlines, Canada’s everyday low-fare airline, kicked off its inaugural flight from Edmonton to Quebec City connecting the two cities together through direct flights for the first time ever. Flights will run twice weekly on Mondays and Fridays.

“We are excited to launch the first ever direct flight connecting Edmonton and Quebec City,” said Garth Lund, Chief Commercial Officer at Flair Airlines. “We look forward to offering Edmontonians more choice and affordable travel options as well as continuing our relationship with the Edmonton International Airport.”

One-way fares from Edmonton to Quebec City begin at $59 plus taxes and fees. All routes can be booked on the https://www.flyflair.com/ website.

Porter Airlines expands in British Columbia with service between Victoria and Toronto Pearson

July 10, 2023 / WIL BALDWIN

TORONTO – Porter Airlines is adding Victoria to its network, with flights between Toronto Pearson International Airport (YYZ) and Victoria International Airport (YYJ). Victoria is the second city in British Columbia that Porter serves with the new 132-seat Embraer E195-E2 aircraft. The E195-E2 has the lowest fuel consumption per seat and per trip among its class, and is the quietest single-aisle jet flying today. The two-by-two configuration means no middle seats on any Porter flight.

Service begins on September 20, 2023, with one daily roundtrip flight. Connecting flights with Ottawa, Montreal, Halifax and St. John’s will also be available. Introductory roundtrip fares start at $476.

Route	Departure	Arrival
Toronto-Pearson (YYZ) to Victoria (YYJ)	10:55 a.m.	1:04 p.m.
Victoria (YYJ) to Toronto-Pearson (YYZ)	2:00 p.m.	9:31 p.m.

Porter’s distinct service includes complimentary beer and wine served in glassware, free premium snacks, and free, fast WiFi, with full access to web surfing or favourite streaming platforms, available to all travellers. Fresh, healthy meals, pre-mixed cocktails and additional snack options are also available on the new route.

Sustainability is at the heart of the menu design, with a priority on reducing and eventually eliminating single-use plastics onboard, providing biodegradable cups and cutlery, and eco-friendly packaging.

Porter continues to expand its presence in Western Canada, now serving Vancouver, Victoria, Edmonton, Calgary and Winnipeg.

Flights and Porter Escapes vacation packages are now available for booking at www.flyporter.com and with travel agents.

Canadian Pacific and Kansas City Southern File Merger Application With STB

November 1, 2021 / WIL BALDWIN

CALGARY, Alberta & KANSAS CITY, Mo.–(BUSINESS WIRE)– Canadian Pacific Railway Limited (NYSE: CP) and Kansas City Southern (NYSE: KSU) have announced they have jointly filed a railroad control application with the Surface Transportation Board (“STB”) regarding the proposed transaction to create Canadian Pacific Kansas City (“CPKC”), the only single-line railroad linking the United States, Mexico and Canada.

The comprehensive control application provides an overview of the proposed operational integration of the CP and KCS rail networks, the impact of that consolidation on the companies’ finances and labour needs, and the anticipated competitive and other benefits that will flow from providing shippers with new and better transportation alternatives. Information in the filing outlines the public and customer benefits a CP-KCS combination would bring, including more efficient north-south trade arteries to support the interconnected supply chains of the United States, Mexico and Canada.

In addition to the central foundation of the transaction to invigorate transportation competition and support economic growth across North America, the CP-KCS combination will generate many other public benefits, including:

The creation of more than 1,000 direct new jobs system-wide, including approximately 760 in the United States, over the next three years brought about by expanded rail operations across the combined network.
Capital investments in new infrastructure of more than USD$275 million¹ over the next three years to improve rail safety and capacity of the core north-south CPKC main line between Louisiana and the Upper Midwest.
Avoidance of more than 1.5 million tons of greenhouse gas (GHG) emissions within five years due to the improved efficiency of CPKC versus current operations.
Diverting 64,000 long-haul truck shipments to rail annually with new CPKC intermodal services, eliminating another 1.3 million tons of GHG emissions over the next two decades, saving $750 million in highway maintenance costs.

Rail customers will not experience a reduction in independent railroad choices as a result of the CP-KCS combination. The joint control application reiterates the applicants’ commitment to keep all existing freight rail gateways open on commercially reasonable terms, including the Laredo gateway between the United States and Mexico, and shows how customers will not lose competitive routings because no new regulatory “bottlenecks” are being created. It also describes how the combined company will compete aggressively to attract traffic to its network via new single-line lanes between Canada, the Upper Midwest and the Gulf Coast, Texas, and Mexico.

More than 960 stakeholders, including more than 440 shippers, 186 smaller railroads, dozens of public officials, eight major ports, railroad labor unions representing both CP and KCS employees and 289 rail industry suppliers have written letters to the STB supporting CP’s proposed combination with KCS.

CP has agreed to acquire KCS in a stock and cash transaction representing an enterprise value of approximately $31 billion, which includes the assumption of $3.8 billion of outstanding KCS debt. The transaction, which has the unanimous support of both boards of directors, values KCS at $300 per share, representing a 34 percent premium, based on the CP closing price on Aug. 9, 2021, the date prior to which CP submitted a revised offer to acquire KCS, and KCS’ unaffected closing price on March 19, 2021.²

The transaction is subject to approval by shareholders of each company along with satisfaction of customary closing conditions, including Mexican regulatory approvals. Shareholders are expected to vote on the transaction later this year.

CP’s ultimate acquisition of control of KCS’ U.S. railways is subject to the approval of the STB. In April 2021, the STB determined it would review the CP-KCS combination under the merger rules in existence prior to 2001 and the waiver granted to KCS in 2001 to exempt it from the 2001 merger rules. In August 2021, the STB reaffirmed that the pre-2001 rules would govern its review of the CP-KCS transaction. On Sept. 30, 2021, the STB confirmed that it has approved the use of a voting trust for the CP-KCS combination.

The STB review of CP’s proposed control of KCS is expected to be completed in the second half of 2022. Upon obtaining control approval, the two companies will be integrated fully over the ensuing three years, unlocking the benefits of the combination.

While remaining the smallest of six U.S. Class 1 railroads by revenue, the combined company would have a much larger and more competitive network, operating approximately 20,000 miles of rail, employing close to 20,000 people, and generating total revenues of approximately $8.7 billion based on 2020 actual revenues.

For more information about the benefits of the CP-KCS combination, visit futureforfreight.com

Canadian Pacific Completes Acquisition of Detroit River Rail Tunnel

December 22, 2020 / WIL BALDWIN

CALGARY, Dec. 22, 2020 /PRNewswire/ – Canadian Pacific Railroad (NYSE: CP) announced today it has completed its previously announced agreement to purchase an 83.5 percent stake in the Detroit River Rail Tunnel from certain affiliates of OMERS, the defined benefit pension plan for municipal employees in the province of Ontario. CP previously owned a 16.5 percent stake of the tunnel in partnership with OMERS. The purchase price for the transaction is approximately US$312 million, subject to customary closing adjustments.

CP Completes Central Maine & Quebec Railway Acquisition

December 30, 2019 / WIL BALDWIN

CALGARY, Dec. 30, 2019 /PRNewswire/ – Canadian Pacific (NYSE: CP) has closed the transaction related to the acquisition of the Central Maine & Quebec Railway. The acquisition of CMQ in the U.S. remains subject to Surface Transportation Board approval.

The acquisition, first announced on November 20, 2019, will provide CP customers with seamless, safe and efficient access to ports at Searsport, Maine and to Saint John, New Brunswick, via Eastern Maine Railway Company and New Brunswick Southern Railway, thereby preserving and enhancing competition.

Canadian Pacific to Acquire Central Maine & Quebec Railway from Fortress Transportation and Infrastructure Investors LLC

November 20, 2019 / WIL BALDWIN

CALGARY and NEW YORK, Nov. 20, 2019 /PRNewswire/ – Canadian Pacific (CP) and Fortress Transportation and Infrastructure Investors LLC (FTAI) announced they have entered into a definitive agreement whereby CP will acquire the Central Maine & Quebec Railway (“CMQ”).

CMQ owns 481 miles (774 kilometres) of rail lines primarily in Quebec and Maine. The end-to-end transaction will provide CP customers with seamless, safe and efficient access to ports at Searsport, Maine and to Saint John, New Brunswick, via Eastern Maine Railway Company (EMRY) and New Brunswick Southern Railway (NBSR), thereby preserving and enhancing competition.

“This strategic acquisition gives CP a true coast-to-coast network across Canada and an increased presence in the eastern U.S.,” said CP President and CEO Keith Creel. “With additional port access, more dots on the map, and our proven precision scheduled railroading operating model we are confident this transaction will bring benefits to all stakeholders moving forward.”

As part of the transaction, FTAI will retain ownership of Katahdin Railcar Services (KRS), a tank car cleaning and repair facility, and the contract to operate at a 12-mile branch line at FTAI’s Long Ridge Energy Terminal in Monroe County, Ohio. FTAI intends to continue to develop and grow both the KRS and Long Ridge branch line businesses.

“We are excited about this transaction as it brings value to our shareholders, while ensuring that the CMQ continues to provide safe and reliable rail transportation options,” said Joe Adams, FTAI CEO.

CP invests in its people and its assets to ensure it can provide service safely and efficiently. CP has been the safest railway in North America for 13 consecutive years, as measured by train accident frequency and meets all regulatory requirements.

The transaction is currently expected to close at the end of 2019 and remains subject to customary closing conditions. Over the coming weeks, CP, FTAI and other stakeholders will move towards closing.

Canada’s Largest Railroad Hit by Strike, Trudeau in Hot Seat

November 19, 2019 / WIL BALDWIN

MONTREAL/WINNIPEG, Nov 19 (Reuters) – Thousands of workers at Canada’s largest railway went on strike for the first time in a decade on Tuesday, disrupting the shipping of commodities and sparking calls for Prime Minister Justin Trudeau’s Liberal government to intervene.

About 3,000 unionized workers of Canadian National Railway, including conductors and yardmen, hit picket lines after both sides failed to resolve contract issues at a time of softening demand for freight service. They continued talks on Tuesday in Montreal amid union concerns over fatigue, safety and ensuring that workers’ breaks are not reduced.

Canada, one of the world’s biggest exporters of farm products, relies on CN and Canadian Pacific Railway to move canola, wheat and other commodities over vast distances from western farms to ports. Crude oil shippers and the mining industry also depend on the railways.

The strike comes at an awkward time for Trudeau’s government, which relies on smaller parties to pass legislation and faces criticism from western provinces about its failures to get new oil pipelines built. Trudeau has said he is not reconvening Parliament until Dec. 5, and the government cannot start the process to force workers back on the job until then.

Andrew Scheer, leader of the Conservatives, the second-largest party in Parliament, and Alberta Energy Minister Sonya Savage each separately urged Trudeau on Twitter to recall Parliament immediately.

The Canadian mining industry, which accounts for more than half of annual rail freight revenues, depends on CN to transport supplies to company sites and products from their operations.

“This strike will result in a severe reduction or elimination of railway capacity and will trigger the closure of mines with concurrent layoffs of thousands of employees beginning in a matter of days,” said Pierre Gratton, president and CEO of the Mining Association of Canada.

“SCREECHING HALT”

Industry groups ranging from the Canadian Manufacturers and Exporters to propane and fertilizer groups said Ottawa needed to step in to limit damage to the economy.

The BC Council of Forest Industries, which represents the sector in British Columbia, expressed concerns about the disruptions caused by the strike for rail transport.

“Ninety percent of the forest products we produce are sent to export markets in North America and around the world,” Susan Yurkovich, the body’s president, said.

“A disruption of this critical transportation network will adversely impact BC forest companies at a time when we are already facing significant challenges and increasing competition from around the globe”, Yurkovich added.

CN and CP also collectively handle nearly all grain movement in Western Canada, the country’s crop belt, split roughly evenly between the railways.

The stoppage “has an impact before it even begins because companies pull back sales in anticipation of a strike,” said Wade Sobkowich, executive director of the Western Grain Elevator Association, whose members include Cargill Ltd, Richardson International and Viterra Inc.

CN’s shipments of hazardous goods such as crude are likely to come to a “screeching halt” even if the railroad’s management steps in to limit freight volumes, said Kent McDougall, chief commercial officer at Torq Energy, which loads crude oil in Western Canada onto trains operated by both CN and CP.

A strike may temporarily constrain CN’s volumes, but will not likely have a meaningful long-term impact on the company’s earnings, Credit Suisse analysts said in a research note on Monday, adding that Ottawa has historically been quick to intervene.

Shares of Montreal-based CN were down 1%, while the benchmark Canadian share index was up slightly.

Canadian Labour Minister Patty Hajdu and Transport Minister Marc Garneau said they are monitoring the CN strike situation closely after meeting with the two sides on Monday.

CN said in a statement that it was “disappointed” at the strike action. CN’s service in the United States will continue operating despite the strike.

The company said on Friday it would cut management and union jobs as it grapples with an economic slowdown.

Rail workers with the Teamsters held their last strike in 2009, when locomotive engineers walked off the job for five days, the union said.

(Reporting by Allison Lampert in Montreal and Rod Nickel in Winnipeg Additional reporting by Kelsey Johnson, David Ljunggren and Steve Scherer in Ottawa and Kanishka Singh in Bengaluru Editing by Chizu Nomiyama, Sandra Maler and Leslie Adler)

Canadian Ministers Meet with CN Rail, Union in Effort to Avert Strike

November 18, 2019 / WIL BALDWIN

MONTREAL/WINNIPEG, Nov 18 (Reuters) – Canada’s Liberal government sent two ministers on Monday to meet with representatives of Canadian National Railway Ltd and its largest union, as already hard-hit shippers pleaded for government intervention to avert a strike planned for early on Tuesday.

The threatened strike by 3,000 workers with Teamsters Canada comes after CN, the country’s largest railroad operator, said on Friday it would cut management and union jobs, as it grapples with softer economic conditions.

Labor Minister Patty Hajdu and Transportation Minister Marc Garneau were to meet with representatives from CN and the union in Montreal, Hajdu’s press secretary Veronique Simard said, following a stalemate in contract talks.

CN said it believes a strike can be averted “with the assistance of federal mediators,” after Teamsters declined to submit to binding interest arbitration. “We expect talks to continue up to Nov. 19,” CN said. Teamsters and CN reached a last-minute deal in 2017 that averted a planned strike. Canada, one of the world’s biggest exporters of farm products, relies on its two main railways to move canola and wheat over the vast distances from western farms to ports. Crude oil shippers in Alberta have also used trains in the past two years to reach U.S. refineries as an alternative to congested pipelines.

Alberta wheat and barley commissions, representing farmers, urged Ottawa to intervene, as they are already facing difficult harvest conditions because of weather. “There are a lot of farmers who already have a significant amount of their income trapped under snow,” said Gary Stanford, Alberta Wheat Commission chair. “Now adding insult to injury, we’re looking at possible CN rail strike action too.”

CN was expecting slightly lower fourth-quarter crude shipments from the third quarter, officials said on an Oct. 22 conference call.

Slumping commodity prices, congested oil pipelines and a dispute with China that has hampered Canadian agriculture exports have pressured the economies of resource-rich western provinces.

Teamsters Canada spokesman Christopher Monette said the planned strike by its conductors, train personnel and yard workers comes because workers are “hitting a wall on issues related to health and safety.”

“While we continue to negotiate in good faith and in hopes of avoiding a labor dispute, we have every intention of striking at 00:01 a.m. ET tonight (0501 GMT) unless an agreement can be reached before then,” Monette said by email.

CN shares were trading down 0.5% in early afternoon Toronto trading.

(Reporting By Allison Lampert in Montreal and Rod Nickel in Winnipeg; Additional reporting by Kelsey Johnson in Ottawa; Editing by Tom Brown and Marguerita Choy)

Canadian Pacific Railway Sees Record-Setting 2019

January 25, 2019 / WIL BALDWIN

TORONTO/BANGALORE, Jan 23 (Reuters) – Canadian Pacific Railway Ltd expects double-digit earnings growth in 2019, the country’s second-biggest rail operator said on Wednesday, lifted by strong pricing and growing demand for shipments of crude and other commodities.

The Calgary-based company, which got a sizeable revenue lift from crude in its fourth quarter, said it expects crude shipments will increase to an annual run rate of approximately 120,000 rail cars in the second quarter from about 100,000 currently.

Reporting a bigger-than-expected profit, despite higher fuel costs, CP also forecast double-digit growth in diluted earnings per share in 2019, from C$14.51 in 2018, and mid-single-digit volume growth.

“The two most striking things were they did well on the pricing …and they did just a fantastic job of keeping their costs in line,” said Edward Jones analyst Dan Sherman. “It sounds like they just see pretty solid sailing going forward.”

CP’s operating ratio, a closely watched productivity metric that measures operating expenses as a percentage of revenue, improved by 370 basis points to 56.5 percent in the fourth quarter.

While railways are sensitive to economic downturns or major shifts in trade, CP said it has not seen a downturn in its international intermodal container business in January or February, despite a surge of volume late in the fourth quarter.

“We entered 2019 with tremendous momentum,” said Chief Executive Keith Creel on a conference call with analysts. “Rest assured, we’re poised for another record-setting year.”

CP said it recently struck a multi-year agreement with Suncor Energy that is a C$20 million near-term opportunity that could double in later years. It also struck a multi-year deal to ship refined fuels to Southern Ontario, but did not disclose the customer.

Growing crude shipments come as output from Western Canada has outstripped pipeline capacity, prompting producers to increasingly sign transport deals with CP and its larger rival, Canadian National Railway Co.

Cenovus Energy Inc said in September it had signed three-year deals with CP and CN to transport roughly 100,000 barrels per day of crude from Northern Alberta to the U.S. Gulf Coast.

For the quarter ended Dec. 31, CP reported earnings of C$ 4.55 per share, excluding items, beating the C$4.22 consensus estimate, according to IBES data from Refinitiv.

Net income fell 45 percent, to C$545 million, compared to year-ago results buoyed by a C$527 million income-tax gain.

Revenue rose 17 percent to C$2.01 billion.

($1 = 1.3347 Canadian dollars)

(Reporting by Susan Taylor in Toronto and Shanti S Nair in Bengaluru; editing by Sriraj Kalluvila and James Dalgleish)

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