Tag: approve

Ryanair agrees on new partnership deal with OTA kiwi.com

January 29, 2024 / WIL BALDWIN

KIWI GUARANTEE NO OVERCHARGING FOR RYANAIR FLIGHTS/ANCILLARIES

Following the recent approved partnership between Ryanair Holdings PLC (Ireland: RYA) and OTA, loveholidays.com. Ryanair today (Monday, January 29) announced a new partnership agreement with approved OTA, Kiwi.com, which guarantees that Kiwi will now have direct access to the Ryanair.com website without screenscraping, and Kiwi agree to provide their customers with low Ryanair prices for flights and ancillaries, and will see Kiwi provide the direct accurate customer contact and payment details to Ryanair.

This new approved OTA deal means that Kiwi customers can now buy Ryanair flights/ancillaries at real prices (without mark-ups) via the Kiwi.com website, and Kiwi customers will have direct access to their myRyanair account and will receive all Ryanair flight info directly to their email from Ryanair. Kiwi customers will no longer need to complete Ryanair’s customer verification process which unauthorised OTA Pirates’ customers must continue to do.

In addition to these benefits, this deal also allows customers to enjoy Kiwi virtual interline service which allows customers to book connecting flights, but if they miss their connection flight, Kiwi will reaccommodate passengers free of charge on the next available flight.

Ryanair has long campaigned for all consumers to be protected from OTA Pirate overcharges and pricing scams, and an end to fake customer contact and payment info. This approved OTA partnership with Kiwi demonstrates how OTAs can work with Ryanair in a transparent way that eliminates the need for anti-consumer practices while giving Kiwi.com passengers direct access to Ryanair’s low prices with no overcharges or price scams.

Forward-Looking Statements

This press release may 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.

Dassault Aviation releases order intakes, deliveries and backlog as of December 31, 2023

January 14, 2024 / WIL BALDWIN

AIRCRAFT ORDERED IN 2023

60 Rafale (*) were ordered (42 France, 18 Indonesia), compared with 92 Export Rafale in 2022.

(*) The order for an additional 18 Rafale for Indonesia entered into force on January 8, 2024 and is therefore not part of the 60-Rafale order intake for 2023.

23 Falcon were ordered, compared with 64 in 2022.

AIRCRAFT DELIVERED IN 2023

13 Rafale (11 France, 2 Export) were delivered, while 15 had been guided.
14 Rafale (13 Export, 1 France) were delivered in 2022.

26 Falcon were delivered, while 35 (*) had been guided.
32 Falcon were delivered in 2022.

(*) Certified on August 22, 2023, Falcon 6X, integrating post certification upgrades approved by EASA, has entered into service at the end of 2023.

AIRCRAFT IN BACKLOG

As of December 31, 2023, the backlog includes:

211 Rafale (*) (141 Export, 70 France) compared with 164 Rafale as of December 31, 2022,
84 Falcon compared with 87 Falcon as of December 31, 2022.
(*) The order for an additional 18 Rafale for Indonesia entered into force on January 8, 2024 and is therefore not part of the 211-Rafale backlog of December 31, 2023.

UPCOMING FINANCIAL RELEASE

Dassault Aviation Group will release on March 6, 2024 its full year results.

The above figures relate only to the number of new aircraft. The Group points out that amounts in euros will be published on March 6, 2024.

Rafale B de l’Armée de l’Air Française en opérations extérieures (Opération Serval) – Vue en vol au dessus du Mali. Equipé de la nacelle Damoclès et de GBU-12.

South Korea Pension Fund Backs Korean Air Chairman

March 26, 2020 / WIL BALDWIN

SEOUL, March 26 (Reuters) – South Korea’s National Pension Service (NPS) will vote for Hanjin Group chairman Walter Cho to keep his board seat in Korean Air’s parent firm Hanjin Kal at a shareholders’ meeting on Friday, the fund said.

In a statement on Thursday, NPS said it would also approve a board seat for telecoms industry veteran Kim Shin-bae, who was nominated by Cho’s sister and an activist fund that opposed Walter Cho.

Hanjin Kal’s annual general meeting is expected to be the culmination of an intense proxy fight to decide the group’s leader.

NPS, the world’s third-largest pension fund, had a stake of 2.9% stake in Hanjin Kal by the end of 2019.

(Reporting by Joyce Lee; Editing by Clarence Fernandez)

Brazil Antitrust Regulator Gives Nod to Boeing-Embraer Deal

January 27, 2020 / WIL BALDWIN

The Boeing logo is displayed on a screen, at the NYSE in New York

BRASILIA (Reuters) – Brazilian antitrust regulator Cade on Monday approved Boeing Co’s <BA> purchase of Embraer SA’s <ERJ> commercial aviation division without restrictions, according to a statement on the agency’s website.

Cade’s top administrative council could still call for a reconsideration of the case, putting the matter to a vote.

The companies welcomed the move on Monday, with Boeing saying it remained confident of getting approval from the European Commission, the last hurdle to the transaction.

The European Union has set an April 30 deadline to decide on the deal.

Boeing has offered to pay $4.2 billion for 80% of Embraer’s commercial jet division, which builds passenger jets in the 70- to 150-seat segment.

That puts it in direct competition with next-generation jets designed by Bombardier Inc <BBD-B.TO> and acquired by Europe’s Airbus SE <EADSY>, which rebranded them the A220 program.

(Reporting by Ricardo Brito; additional reporting by Kanishka Singh; Writing by Jake Spring; Editing by Sandra Maler, Marguerita Choy and Aditya Soni)

E2-195 plane with Brazil’s No. 3 airline Azul SA logo is seen during a launch event in Sao Jose dos Campos

Ford’s UAW Members Vote to Ratify New Four-Year Contract

November 15, 2019 / WIL BALDWIN

FILE PHOTO: Frankfurt hosts the international Motor Show (IAA)

DETROIT (Reuters) – The United Auto Workers union said on Friday that rank-and-file members at Ford Motor Co <F> have voted in favor of a new four-year labor contract with the No. 2 U.S. automaker.

The UAW will now focus on Fiat Chrysler Automobiles (FCA) <FCAU>, the sole remaining Detroit automaker without a new labor contract. Talks with FCA are expected to begin on Monday, a UAW spokesman said.

The union said 56.3% of Ford’s hourly workers voted to approve the deal, which allowed the company to avoid a strike like the one that cost its larger rival General Motors Co <GM> about $3 billion (£2.3 billion).

UAW leaders said earlier this month that Ford under the deal agreed to invest more than $6 billion in its U.S. plants, and to create or retain more than 8,500 UAW jobs.

The deal also includes pay raises and lump-sum payments over the life of the contract, a pathway to full-time employment for temporary employees and unchanged healthcare coverage.

Workers at GM approved a deal in late October that ended a contentious 40-day U.S. strike, the longest automotive labor stoppage since 1970.

Detailed terms of the Ford deal – released just a week after GM workers approved their new contract – echoed those agreed to with GM, as the union typically uses the first deal as a template for those that follow.

UAW leaders managed contract negotiations with Ford and GM, including the lengthy strike, while struggling with an ongoing federal corruption probe.

To date, 10 people have pleaded guilty in connection with the criminal investigation into illegal payoffs. Just last week former UAW vice president and former GM board member Joseph Ashton was charged with conspiracy to commit money laundering and wire fraud.

Earlier this month the UAW said that its president, Gary Jones, who had been linked to the ongoing corruption probe, was taking a leave of absence.

Rory Gamble, the union’s acting head, said last week he will examine every department of the union in response to the spreading federal corruption probe to prevent future misuse of members’ dues.

(Reporting by Nick Carey and Ben Klayman in DetroitEditing by Matthew Lewis and Cynthia Osterman)

ATR Launches Short Take-Off and Landing 42-600’S

October 11, 2019 / WIL BALDWIN

Leading turboprop manufacturer’s Board of Directors approves the launch of brand new STOL version

Juan-les-Pins, 9 October 2019 – ATR, the world number one regional aircraft manufacturer, confirms it has received authorisation from its board of directors for the launch of the ATR 42-600S. With the ‘S’ representing STOL (Short Take-Off and Landing), this new version of the ATR 42-600 offers take-off and landing capabilities on runways as short as 800m with 40 passengers on board in standard flight conditions (*). This makes the ATR 42-600S the best performing aircraft in this segment.

To-date, ATR has recorded 20 commitments from operators and lessors for this ATR 42-600S variant. This includes Elix Aviation Capital as the launch lessor and Air Tahiti as the launch operator, as announced on the occasion of the Paris Air Show 2019.

The 42-600S is a brand new addition to the company’s aircraft family, alongside the founding members ATR 42-600 and ATR 72-600, and the forthcoming ATR 72-600F cargo variant. The ATR 42-600S’ certification, is expected for the second half of 2022, with the first delivery expected immediately after.

ATR Chief Executive Officer Stefano Bortoli, commented: “Adding the ATR 42-600S to our family makes total sense and paves the way for the company’s future. There is a huge potential for 50-seater aircraft and the ATR 42-600S could help airlines widen their horizons, as it can reach up to around 500 new airports across the globe. This is clear illustration of our dedication in helping more people and more remote communities benefit from being part of a connected world and in a sustainable way.”

The principal modifications for the 42-600S will concern the introduction of a larger rudder, which allows increased control of the aircraft at lower speeds. The new version will continue to use the same engine as both the ATR 42 and 72. The ATR 42-600S will, however, allow pilots to be able to select between the ATR 42 and 72 engine ratings, meaning the aircraft can use increased power for performing STOL operations, or elect to operate more efficiently with less power on longer runways. The ATR 42-600S will also be able to symmetrically deploy its spoilers to improve braking efficiency on landing. It will also come with an autobrake system which will ensure that the full braking power occurs immediately upon landing.

With this new version, ATR forecasts to expand the addressable market by 25%, targeting new routes and the 30-seater STOL segment. There is a strong interest from airlines for a new 50-seater product capable of operating in more constraint conditions. Close to 500 airports have a runway comprised between 800-1,000m and could welcome the ATR 42-600S. The launch of this aircraft will benefit both passengers and airlines thanks to the increased regional connectivity that it will bring.

*15°C airfield temperature, sea level, dry paved runway and a route of 200NM.

Pioneer Railcorp Shareholders Approve Merger with BRX

July 19, 2019 / WIL BALDWIN

PEORIA, Ill., July 19, 2019 /PRNewswire/ — Pioneer Railcorp (OTC: PRRR, “Pioneer”), a railroad holding company that owns short-line railroads and several other railroad-related businesses including a railroad equipment company and a contract switching services company, today announced that its shareholders have approved the previously announced definitive merger agreement with BRX Transportation Holdings, LLC (“BRX”), an entity formed by Brookhaven Rail Partners (“Brookhaven”), Related Infrastructure (“Related”) and Stephens Capital Partners LLC (“Stephens”). The proposal to approve the merger agreement and the transactions contemplated thereby was approved with voting results as follows:

Under the terms of the merger agreement, BRX will acquire through merger all of the outstanding shares of Pioneer’s Class A common stock. Shareholders other than Heartland will receive $18.81 per share in cash and the Heartland shares will be cancelled without consideration.

Consummation of the merger remains subject to various closing conditions, including operating performance by Pioneer within a specified working capital floor and debt ceiling. Subject to satisfaction of the closing conditions, the transaction is expected to close in late July 2019. Upon closing of the transaction, Pioneer will become a wholly-owned subsidiary of BRX and its Class A common stock will cease trading on the OTC Markets.

Arnold & Porter is acting as legal advisor to BRX in this transaction. BMO Capital Markets is serving as exclusive financial advisor to Pioneer in connection with this transaction and Briggs and Morgan, P.A. is acting as Pioneer’s legal advisor.

About Pioneer
Pioneer Railcorp is the parent company of 15 short-line common carrier railroad operations, an equipment leasing company, two service companies and a contract services switching company. Pioneer and its subsidiaries operate in the following states: Alabama, Arkansas, Georgia, Illinois, Indiana, Iowa, Kansas, Michigan, Mississippi, Ohio, Pennsylvania and Tennessee. For more information on Pioneer, please visit www.Pioneer-Railcorp.com

About Brookhaven
Brookhaven Rail Partners is an affiliate of Denver-based Brookhaven Capital Partners, a privately held, real estate and infrastructure investment and management firm. Brookhaven and its principals have a 25-year track record of investing in, operating and developing critical transportation assets that support industry, and promote new economic development, community investment, and job creation. For more information on Brookhaven, please visit www.BrookhavenPartners.com

Embraer Announces Earnings Results For 1st Quarter 2019

May 15, 2019 / WIL BALDWIN

HIGHLIGHTS

Embraer delivered 11 commercial jets and 11 executive jets (8 light / 3 large) in 1Q19.

The Company’s firm order backlog at the end of 1Q19 was US$ 16 billion considering all deliveries as well as firm orders obtained during the period.

EBIT and EBITDA in 1Q19 were US$ (15.2) million and US$ 30.9 million, respectively, yielding EBIT margin of -1.8% and EBITDA margin of 3.8%. This compares to EBIT of US$ (5.3) million (-0.6% EBIT margin) and EBITDA of US$ 57.8 million (6.0% EBITDA margin) in 1Q18.

1Q19 Net loss attributable to Embraer shareholders and Loss per ADS were US$ (42.5) million and US$ (0.23), respectively. Adjusted net loss (excluding deferred income tax and social contribution) for 1Q19 was US$ (61.8) million, with Adjusted loss per ADS of US$ (0.34). Embraer reported adjusted net loss in 1Q18 of US$ (60.5) million, for an adjusted loss per ADS of US$ (0.33) in the quarter.

Embraer reported Free cash flow of US$ (665.3) million in 1Q19, compared to free cash flow of US$ (435.2) million reported in 1Q18. The Company finished the quarter with total cash of US$ 2,483.4 million and total debt of US$ 3,587.1 million, yielding a net debt position of US$ 1,103.7 million versus net debt of US$ 439.9 million at the end of 2018.

The Company’s shareholders approved the proposed strategic partnership between Boeing and Embraer during an Extraordinary General Shareholders’ Meeting on February 26, 2019. At the meeting, 96.8% of all valid votes were in favor of the transaction, with participation of roughly 67% of all outstanding shares.

The closing of the transaction between Boeing and Embraer remains subject to obtaining regulatory approvals and the satisfaction of other customary closing conditions, expected by the end of 2019.

The Company reaffirms all aspects of its 2019 financial and deliveries guidance.

Click the link below for the full report!

https://daflwcl3bnxyt.cloudfront.net/m/4fe5d3ce64e6b820/original/Embraer-Release-US-1Q19_FINAL.pdf

Archives