First order from landmark framework agreement with DSB covers 100 Coradia Stream trains and 15 years of maintenance.
Alstom, a global leader in smart and sustainable mobility, has won the largest train tender in Danish rail history. Part of a landmark framework agreement with Danish State Railways (DSB) valued at a total of €2.6 billion, the first firm order of 100 Coradia Stream regional trains as well as a 15-year full-service maintenance agreement amounts to a value of €1.4 billion. The framework agreement includes an additional 15 years of maintenance services and the possibility to order additional trainsets.
Delivery of DSB’s new trains is scheduled to begin in the last quarter of 2024. Once in service, this new fleet will operate as a regional and fast rail service and connect Denmark’s northern region to the capital city of Copenhagen, before proceeding south to Lolland.
The Coradia Stream for DSB has been specially adapted to meet the needs of the Danish rail network and its top speed of 200 km/h will help ensure swift mobility across the country. Each trainset will consist of five single- deck coaches with a total seating capacity for 300 passengers. The trains will be pre-fitted with Alstom’s Atlas onboard ETCS Baseline 3system, as well as an STM interface enabling it to operate on Denmark’s legacy signalling system.
The first unit of the very high-speed train Talgo Avril began its first rail tests this week, a decisive step in the technical homologation, prior to its commercial circulation by Spanish operator Renfe. This is the final phase in the manufacturing process of 30 units of the Talgo Avril, which has a passenger capacity of up to 581 seats.
The rail tests are aimed at checking the dynamic behaviour of all the elements of the train, and in particular the running gear systems, under progressively more complex operating conditions and up to the speed required for technical homologation of over 360 km/h. Its maximum commercial speed will be 330 km/h.
The homologation tests are planned to be carried out for several weeks on the Madrid-Galicia high-speed rail line, although they could be extended to other parts of the railway network in Spain at a later stage.
Lighter, more sustainable and accessible
Talgo Avril is Talgo’s most advanced very high-speed train, which will become a benchmark of quality in the very high-speed rail segment. Thanks to their high capacity and light overall weight, the Avril trains acquired by Spanish operator Renfe minimise energy consumption and multiply efficiency. This allows them to reduce greenhouse gas emissions and further enhance the position of rail as the most sustainable means of transport.
One of the outstanding features of this latest generation train is that its composition of 12 passenger carriages and 200 metres long are located on a single deck and at the station platform level, allowing passengers to access the train and move around inside it without steps or ramps. Talgo’s unique accessibility not only facilitates access for people with reduced mobility, but also offers an easy journey for all passengers, from parents with prams to passengers with bulky luggage or bicycles.
New routes, new markets
Talgo Avril is part of a highly flexible technological platform that allows each delivery to be adapted to the increasingly complex needs of the European rail market. In this particular contract, the 30 trains supplied are divided into different blocks according to their internal commercial configuration, their automatic variable-gauge system (Iberian and international), and their equipment to be operated north of the Pyrenees. Thanks to these capacities, Talgo Avril will be able to be used on practically the entire Iberian electrified rail network, bringing even closer those destinations to which the new high-performance rail network has not yet been extended, as well as in international relations between Spain and France.
The interoperability of Talgo trains is one of their most distinctive features, and this has led them to be used on commercial routes throughout Europe: France, Switzerland, Italy, Portugal, Russia, Belarus and Poland. The Spanish manufacturer has also recently been awarded new contracts to supply trains to the European operator Deutsche Bahn, which will connect Berlin (Germany) with Amsterdam (Netherlands) and to the Danish company DSB, to link Copenhagen (Denmark) with the German port of Hamburg.
OSLO (Reuters) – Norwegian Air <NAS.OL> could run out of cash by mid-May unless its proposed financial rescue plan is approved by creditors and shareholders, the budget carrier warned on Monday.
If approved by bondholders, leasing companies and shareholders, the plan may help Norwegian survive the coronavirus outbreak, which has grounded 95% of its fleet, leaving just 7 aircraft in operation.
But the planned debt-to-equity swap will hand majority ownership of 53.1% to the company’s lessors, while bondholders would own 41.7%, leaving current shareholders with just 5.2%, it said.
The move would allow Norwegian to tap government guarantees of 2.7 billion crowns ($255 million), which are dependent on the company reducing its ratio of debt to equity, and which would come on top of 300 million crowns it has already received.
It is “critical to get access to the state aid package by mid-May before the company runs out of cash,” Norwegian said in a presentation to investors.
Rapid growth has made Norwegian Europe’s third-largest low-cost airline and the biggest foreign carrier serving New York and other major U.S. cities, but with the expansion came debts and liabilities of close to $8 billion by the end of 2019.
Last week, the company reported that four Swedish and Danish subsidiaries had filed for bankruptcy and that it had ended staffing contracts in Europe and the United States, putting some 4,700 jobs at risk.
Norwegian’s shares opened 8% lower on Monday and are down 86% year-to-date.
The company aims to gradually emerge from the COVID-19 crisis with both a short-haul and long-haul network in place, and is targeting a return to normal operations in 2022, it said.
The plan requires backing from bondholders in each of four separate votes planned for April 30, from shareholders in an extraordinary general meeting scheduled for May 4, and from leasing firms.
It maintained plans to raise up to 400 million crowns in cash from owners.
(Editing by Jan Harvey)
FILE PHOTO: A Norwegian Air plane is refuelled at Oslo Gardermoen airport
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!
(Reuters) – The collapse of British travel operator Thomas Cook left hundreds of thousands of holidaymakers abroad and forced governments and insurers to coordinate a huge operation to get them home.
FILE PHOTO: Passengers are silhouetted in front of a closed service counter of travel agent Thomas Cook and airline Condor at the airport in Frankfurt, Germany, September 24, 2019. REUTERS/Kai Pfaffenbach
The company ran hotels, resorts and airlines ferrying 19 million people a year to 16 different countries.
Here is a summary of the impact of the collapse in different countries and efforts to salvage parts of the group:
GERMANY
Thomas Cook’s German tour business filed for insolvency on Wednesday in a move aimed at separating its brands and operations from its failed parent, and it said it was in talks with potential new investors.
The German government said it was considering an application for a bridging loan from Thomas Cook Germany, a day after it said it would guarantee a 380 million euro ($418 million) bridging loan for Condor, the British group’s German airline.
The company is in contact with the German foreign ministry, insurers and other partners to get customers home. Zurich Insurance, which provided insolvency cover to Thomas Cook Germany, will cover the costs for those on holiday.
About 97,000 holidaymakers were still stranded on Thursday.
AUSTRIA
Thomas Cook Austria, which belongs to the German unit, also filed for insolvency on Wednesday, with the aim of continuing in business.
THE NETHERLANDS
The Dutch unit of Thomas Cook canceled all travel booked through Thomas Cook Netherlands and subsidiary Neckermann.
A Dutch court on Wednesday granted Thomas Cook Nederland B.V., a Netherlands-based subsidiary, protection from creditors. It employed roughly 200 staff.
POLAND
Thomas Cook’s Polish unit, Neckermann Polska, said on Wednesday that it has filed for insolvency. Poland regional authorities says around 3,600 customers of Neckermann Polska are still abroad.
BELGIUM
Thomas Cook’s Belgian unit ceased carrying passengers on Tuesday and liquidated two businesses, seeking protection from creditors and ultimately a buyer for Thomas Cook Retail Belgium.
It still has some 13,400 customers on holidays abroad.
NORDICS
Several planes operated by Thomas Cook Scandinavian Airlines have not been able to take off because their leasing contracts remained with the British parent, Danish subsidiary Spies said.
It was not immediately clear how the situation would be resolved.
Thomas Cook’s Nordic business said on Monday it would continue to operate as it is a separate legal entity from its London-listed parent and added that it was looking for new owners.
The Nordic business consists of two legal entities, Thomas Cook Northern Europe and Thomas Cook Scandinavian Airlines, and is also known as Ving Group.
The business operates under several brands: Ving in Norway, Spies in Denmark, Tjäreborg in Finland, as well as Ving and Globetrotter in Sweden.
BRITAIN
Emergency flights had brought 14,700 people back to the United Kingdom on 64 flights on Monday, and around 135,300 more were expected to be returned over the next 13 days, Britain’s aviation regulator said.
More than 70 flights were scheduled to operate on Wednesday to bring back 16,500 people.
MEXICO
The collapse of British travel firm Thomas Cook will not have a “significant impact” on Mexico’s tourist industry as it only represents about 0.4% of the sector’s foreign income, the Mexican tourism ministry said on Tuesday.
BULGARIA
Thomas Cook’s collapse poses a serious challenge to Bulgarian tourism, with dozens of Black Sea hotels facing losses totaling tens of millions of dollars as negotiations for the next summer season take place, its tourism minister said on Tuesday.
TUNISIA
Tunisian tourism minister Rene Trabelsi told Reuters that 4,500 Thomas Cook customers are still on holiday in Tunisia.
The British government repatriated about 1,200 tourists via planes sent to Tunisa’s Enfidha airport, and another 4,000 still in Tunisia will return after their holidays.
FRANCE
The French arm of the business said on Tuesday it was asking the French commercial court of Nanterre for creditor protection
Thomas Cook France will hold a meeting of its works council on Thursday about a plan to declare insolvency and to start a recovery procedure.
French organization Entreprises de Voyage said that about 10,000 French tourists could be affected by the bankruptcy.
SPAIN
The collapse has affected 53,000 Britons in Spain, Spanish Acting Tourism Minister Reyes Maroto told reporters.
The ministry has been in touch with German and Swedish authorities to ensure Thomas Cook subsidiaries continue to operate at least for the winter season, she added.
GREECE
A Greek tourism ministry official told Reuters that about 50,000 tourists were affected.
CYPRUS
Cyprus says 15,000 Thomas Cook customers were stranded on the island.
HUNGARY
Thomas Cook’s Hungarian unit Neckermann Magyarorszag said it was continuing its operations and all passengers would be able to return from abroad as planned.
It said its financial situation was stable and its assets were sufficient guarantee that its passengers would not suffer any financial damage. It said passengers should contact its offices directly about upcoming flights.
RUSSIA
Thomas Cook’s Russian tour operator subsidiary, Intourist, said the bankruptcy of Thomas Cook will have no impact on clients, Executive Director Sergei Tolchin told Interfax.
TURKEY
The Turkish Ministry of Tourism said it will provide support for local companies affected by the Thomas Cook collapse.
The head of the country’s Hotelier Federation said about 45,000 tourists from the UK and elsewhere in Europe are in the country.
MOROCCO
Morocco’s tourism ministry said it had created a crisis unit to handle the fallout from Thomas Cook’s collapse. Thomas Cook operated two flights to Marrakesh a week. No official numbers were given.
EGYPT
Thomas Cook operator Blue Sky Group said that 25,000 reservations in Egypt booked up to April 2020 had been cancelled. Blue Sky currently has 1,600 tourists in Egypt’s Hugharda resort.
INDIA
Thomas Cook India said it had been unaffected as it has been a separate entity since August 2012.
