(Reuters) – British aero-engine maker Rolls-Royce will abandon its targets on profits, cash and deliveries, and suspend its dividend, as airlines around the world ground planes due to the coronavirus outbreak, the Financial Times reported late on Sunday.
Rolls-Royce is also aiming to announce new credit facilities in excess of 1 billion pounds ($1.22 billion) to bolster liquidity, the newspaper said https://on.ft.com/2ULsL7q.
Rolls-Royce, which makes engines for large civil and military planes, has been hit hard by the pandemic as its airline customers park hundreds of planes.
In March, engine flying hours were down by about 40%, the newspaper said, citing a source. The company is paid by airlines based on how many hours its engines fly.
At the end of February, Rolls Royce had forecast 2020 free cash flow of 1 billion pounds, excluding any material impact from COVID-19. The group will ditch that pledge, the FT said.
The dividend payment of 11.7 pence per share, which has been frozen since 2016, will also be suspended, the newspaper added.
Rolls-Royce declined to comment.
In addition, the FT said the company on Monday will reopen its civil aerospace facilities in the UK with a fraction of the normal workforce, after suspending operations in March.
The company could also eventually furlough some 50% of its 7,500 UK shop-floor workers, with wages supported by government subsidy, two sources told the newspaper.
(Reporting by Bhargav Acharya in Bengaluru; Editing by Daniel Wallis and Richard Pullin)
Rolls Royce engine of the first Fiji Airways A350 XWB airliner is seen at the aircraft builder’s headquarters of Airbus in Colomiers near Toulouse
HONOLULU, Nov. 27, 2019 /PRNewswire/ — Hawaiian Airlines welcomed guests aboard its inaugural flights between Fukuoka Airport (FUK) and Honolulu’sDaniel K. Inouye International Airport (HNL) with festive gate-side celebrations in both cities as the carrier marked the start of its four-times-weekly nonstop service with Airbus A330 aircraft.
Pictured L to R at FUK: Principal Officer John C Taylor, US Consulate Fukuoka; Mr. Satoshi ISHIMOTO, Head of Fukuoka Airport Branch, OSA JCAB, MLIT; Ms. Akie Oomagar, Vice Governor of Fukuoka Prefecture; Mr. Hiroaki Mitsuyama, Vice Mayor of Fukuoka City; Mr. Tetsuya Nagasao, CEO of FIAC; Ms. Mitsue VARLEY, Japan Country Director, Hawaii Tourism Japan; Jeff Helfrick, Vice President of Airport Operations, Hawaiian Airlines; Kahu La‘akea Arista.
Hawai’i’s flagship carrier delighted guests with performances by the Hawaiian Airlines Serenaders music and hula troupe, as well as fresh lei and special keepsakes including a canvas tote and luggage tag commemorating the airline’s inaugural flight.
Hawaiian Airlines President and CEO Peter Ingram addressed guests in Honoluluto mark the return of service to its sister city. Ross Higashi, deputy director of the State of Hawai’i Department of Transportation – Airports and Koichi Ito, Consul General of Japan also offered congratulatory remarks before the inaugural flight, HA827, departed HNL on Nov. 26 at 11:20 a.m., arriving into FUK at 5:21 p.m.the following day.
In Fukuoka, Theo Panagiotoulias, Hawaiian’s senior vice president of global sales and alliances, and John C. Taylor, principal officer of the U.S. consulate in Fukuoka joined guests in celebrating HA828, which departed FUK at 7:55 p.m. on Nov. 27. The flight’s 8:45 a.m. scheduled arrival at HNL on the same day gives travelers the afternoon to explore O’ahu or connect to one of Hawaiian’s seven neighbor island destinations.
“Fukuoka and Honolulu share a special relationship, so we’re thrilled to bring local residents of Kyushu and Hawai’i one step closer to their vacation with our convenient nonstop service,” said Panagiotoulias. “We’re pleased to now offer 35 weekly flights between Hawai’i and five gateways in Japan with the launch of our new Fukuoka service.”
Guests traveling between Fukuoka and Honolulu will enjoy the roominess and comfort of Hawaiian’s Airbus A330 aircraft, which features 18 fully flat Premium Cabin leather seats arranged in a 2-2-2 configuration tailored for couples, families and honeymooners while offering great functionality to business travelers. Hawaiian also offers 68 of its popular Extra Comfort seats with more legroom and enhanced amenities, in addition to 192 Main Cabin seats. All guests will enjoy Hawaiian’s award-winning hospitality, including island-inspired meals prepared by Hawai’i’s top chefs, as well as new in-flight amenities by Kealopiko, designers of contemporary island apparel.
Hawai’i has strong historical ties to Fukuoka dating back to 1885 when the first 149 immigrants arrived on the ship Yamashiromaru to work in Hawai’i following King David Kalakaua’s signing of a treaty of reciprocity with Japan.
A century later, in 1981, the State of Hawai’i passed a resolution establishing a Sister-State relationship with Fukuoka Prefecture, the first one in Hawai’i’s history. Then- Hawai’i Gov. George Ariyoshi, whose father Ryozo Ariyoshi came to Honolulu from Fukuoka, led the Sister-State initiative.
Fukuoka becomes Hawaiian’s fourth gateway city in Japan, which complements its existing network of nonstop service connecting the Hawaiian Islands with Osaka, Sapporo, and Tokyo’s Haneda and Narita airports. The carrier now operates 35 weekly nonstop flights between Japan and Hawai’i and will begin additional daily service between HNL and Tokyo Haneda on March 28.
MEXICO CITY (Reuters) – All 13 people aboard were killed when a private jet crashed between the U.S. city of Las Vegas and Monterrey in northern Mexico, authorities said on Monday.
The wreckage of the plane was found via aerial surveillance in a remote mountainous zone in the northern municipality of Ocampo, the government of Coahuila state said in a statement.
A photograph published on local television network Milenio showed what it said were the burnt remnants of the plane, broken into pieces, spread over charred earth.
The Coahuila government said the flight plan listed 13 people on board. It said no survivors were found.
Mexican media reported that the passengers had been to a boxing match between Mexican boxer Saul “Canelo” Alvarez and U.S. fighter Daniel Jacobs in Las Vegas on Saturday.
The nationalities of the victims were not immediately clear. The surnames of the three crew and 10 passengers published by the Coahuila government were all Hispanic.
The victims were aged between 57 and 19, according to a version of the passenger list published in Mexican media.
Newspaper Diario de Yucatan said on its website that among the victims were 55-year-old businessman Luis Octavio Reyes Dominguez, his wife, and their three children.
In a statement, Canada’s Bombardier Inc identified the jet as a Challenger 601 and said the plane had gone missing about 150 nautical miles from the northern Mexican city of Monclova.
Expressing its condolences to the victims, the company said it had been in touch with Canada’s transportation safety board and would work with the investigating authorities.
Mexican broadcaster Televisa reported the twin-engine jet lost contact on Sunday with air traffic controllers sometime after 5:20 p.m. local time (2220 GMT) as the pilot descended to avoid a storm.
Francisco Martinez, an emergency services official in Coahuila, told Milenio recent adverse weather conditions would form part of the investigation into the crash. However, he stopped short of saying weather had caused it.
(Reporting by Daina Beth Solomon, Noe Torres, Ana Isabel Martinez, David Alire Garcia and Allison Lampert; Editing by David Gregorio and Tom Brown)
