January 12, 2024 – Alstom SA (Paris: ALSO), a global leader in smart and sustainable mobility, has been awarded a contract by the Municipality of Florence, valued at € 50 million for the construction of track, catenary, substations, and lighting system for Line 4.2 of the city’s tram system, with an option for Line 4.1, worth €49 million.
The tender was awarded to a temporary consortium of companies composed by the mandated company CMB together with Alstom, Hitachi Rail and ComNet, and covers operations spanning across a distance of 5.3 kilometres (11 stops) of Line 4.2 Campi Bisenzio-Piagge. The Line 4.2 will connect Le Piagge station to San Donnino and from there to the centre of Campi Bisenzio.
The contract includes an option, for the second lot, which will cover the 6.3 kilometres of Line 4.1 Piagge-Leopolda (13 stops) will connect Line 4.2 with the city centre.
The project is financed by National Recovery and Resilience Plan funds.
The works will be carried out by the System & Infrastructure team in Rome and the components for the electric traction will be designed and supplied by the Alstom site in Valmadrera, Lecco.
Forward-Looking Statements
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TEL AVIV, Sept 16 (Reuters) – Cash-strapped El Al Israel Airlines raised $148 million in a government-mandated share offering on Wednesday that will enable it to receive a state bailout package.
In a regulatory filing in Tel Aviv, Israel’s flag carrier said it sold 753.35 million new shares at 0.671 shekels ($0.1963) each.
Its stock earlier had closed 5.6% higher at 0.774 shekel.
Demand reached 654 million shekels while El Al accepted 505 million shekels ($148 million) worth.
El Al did not give further details of the offering which took the total number of shares outstanding to above 1.2 million.
But Israeli media reported that Eli Rozenberg had obtained a controlling stake via the offering, with 44.9% of the airline’s shares. He is the son of American businessman Kenny Rozenberg, CEO of New York-based nursing home chain Centers Health Care.
Rozenberg in July had offered to funnel $75 million into the airline in return for a 44.99% stake.
An El Al spokesman said he could not immediately confirm the reports about Rozenberg’s bid.
Newspapers said the state’s overall stake would now be as much as 15.5%, while the current controlling shareholder – Knafaim Holdings – would see its stake fall to about 15%.
Israel’s Finance Ministry said it paid $34 million for its shares and that although it pledged a $150 million safety net, it was barely needed.
“The results of the offering express investors’ trust in the company’s business plan and in state aid,” it said in a statement.
El Al has been hit hard by the coronavirus outbreak and the government has for months offered to intervene to help it avoid bankruptcy.
That has included mandating a share offering and steep spending reductions to receive a $250 million loan that will be 75% backed by the government and used partly to pay back customers whose flights were cancelled.
The airline has reported losses for two years running, racked up debt to renew its fleet, and suspended flights when Israel closed its borders and furloughed most of its employees.
($1 = 3.4185 shekels) (Reporting by Rami Ayyub and Steven Scheer; Editing by Andrew Cawthorne)
(Reuters) – The coronavirus outbreak has virtually shut down corporate Australia and New Zealand, forcing companies to throw out their strategic plans and resulting in thousands of layoffs or staff suspensions.
Listed companies in both the countries have already laid off or began considering laying off more than 100,000 people, temporarily or permanently, highlighting the toll on livelihoods as virtual shutdowns take hold.
Ultimately, economists forecast the crisis will more than double unemployment to more than 11%, the highest in three decades.
AIRLINES
* Qantas Airways to place 20,000 workers on leave until at least the end of May.
* Virgin Australia to stand down 8,000 employees until the end of May.
* Air New Zealand to lay off nearly a third of its employees, about 3,500, in the coming months, and said that was a “conservative” assumption.
CASINOS
* Star Entertainment Group says 90% of its workforce, or 9,000 people, will be placed on leave due to mandated casino closures.
* Crown Resorts Ltd stood down about 95% or more than 11,500 of its employees on a full or temporary basis as gaming and other non-essential services at its resorts in Melbourne and Perth were suspended.
* SkyCity Entertainment Group has laid off or furloughed at least 1,100 of its staff across Australia and New Zealand.
RETAIL
* Department store operator Myer Holdings will temporarily lay off 10,000 of its staff without pay.
* Kathmandu Holdings Ltd, the outdoor apparel retailer that owns Rip Curl, said most of its global stores were closed and almost all its staff in Australia will be stood down for four weeks without pay. It has around 4,000 employees globally.
* Home ware retailer Smiths City Group Ltd stands down almost all of its 465 employees on 80% of their salary.
* Retail Food Group will stand down or reduce the working hours of the majority of its 500 employees.
* Premier Investments, owner of Smiggle, Just Jeans and chains, is standing down 9,000 employees, most without pay
* Jeweller Michael Hill International is putting staff on leave in Australia, New Zealand and Canada. The company employs about 2,500.
* Fashion retailer Mosaic Brands is standing down 6,800 due to store closures.
* Footwear retailer Accent Group stands down all its retail employees and most support staff for four weeks without pay. The company reportedly employs 5,700.
HOSPITALITY
* Pub and hotel operator Redcape Hotel Group will cut most permanent staff. It employs 800.
* ALH Group, the pubs and hotels group majority-owned by Woolworths, will stand down about 8,000 staff.
TRAVEL AGENTS
* Flight Centre is cutting or putting on leave a third of its 20,000 staff.
* Helloworld Travel lays off 275 people and temporarily stands two-thirds of its 1,800 workforce until the end of May.
HEALTH AND EXERCISE
* Viva Leisure lays off more than 90% of its 2,200 workforce.
* Dental group Abano Healthcare will stand down majority of its 2,300 employees at its operations in Australia and New Zealand.
HIRING:
On the other hand, some companies are hiring under the new circumstances.
* Australia’s biggest supermarket chain Woolworths to hire 20,000 in the next month. Some of the new hires will be those re-deployed from its the pubs and hotels business, ALH Group. Woolworths also plans to offer short-term roles to 5,000 Qantas employees put on leave.
* Coles has added 7,000 people to its ranks, and said it plans to hire another 5,000 to meet increasing demand at its supermarkets and liquor stores.
* Australia’s biggest telecom company Telstra will freeze a 6,000-employee cull and hire 1,000 due to growing volumes at call centres.
* BHP Group, the world’s biggest miner, says it will hire 1,500 temporary workers, some to be offered permanent roles after six months.
(Reporting by Nikhil Kurian Nainan and Anushka Trivedi in Bengaluru; Editing by Byron Kaye, Shounak Dasgupta and Sherry Jacob-Phillips)
