Tag: proposed (Page 1 of 2)

Texas Central and Amtrak Seek to Explore High-Speed Rail Service Opportunities

August 9, 2023 / WIL BALDWIN

Washington, D.C. – Texas Central Partners (“Texas Central”) and Amtrak are seeking opportunities to advance planning and analysis work associated with the proposed Dallas-Houston 205-mph high-speed rail project to further determine its viability. Amtrak has cooperated with Texas Central on various initiatives since 2016 and the two entities are currently evaluating a potential partnership to further study and potentially advance the project.

The proposed approximately 240-mile route would offer a total travel time of less than 90 minutes between two of the top five major U.S. metropolitan areas and would complement future, new and improved corridor and long-distance service in the southern region.

Texas Central and Amtrak have submitted applications to several federal programs in connection with further study and design work for the potential Dallas to Houston segment, including the Consolidated Rail Infrastructure Safety and Improvements (CRISI) grant program, the Corridor Identification and Development program, and the Federal-State Partnership for Intercity Passenger Rail (FSP-National) grant program.

Amtrak has worked with Texas Central since 2016 when it entered into agreements to provide through-ticketing using the Amtrak reservation system and other support services for the planned high-speed rail line.

In addition to current Amtrak service in Texas and planned station improvements, Amtrak submitted grant applications for daily Sunset Limited service and the extension of the Crescentfrom Mississippi through Louisiana and Texas. Amtrak supports Kansas DOT’s Heartland FlyerExtension Corridor Identification and Development (Corridor ID) application that will connect Wichita and communities across Kansas, Oklahoma, and Texas to the Amtrak network. Amtrak also supports Texas DOT’s applications for the Texas Triangle (Dallas – Fort Worth – Houston – San Antonio) routes.

KiwiRail Announces New Auckland Southern Station Locations

February 12, 2021 / WIL BALDWIN

KiwiRail and the Supporting Growth Alliance (Auckland Transport and Waka Kotahi) have today confirmed their proposed sites for three new stations in southern Auckland and will now begin more detailed consultation with stakeholders about their development.

Over the next 30 years, an extra 120,000 people are expected to live in the area, which will also have 40,000 new houses and 38,000 new jobs. The development of the new stations and their associated facilities will be staged over time to coincide with demands from developments feeding each location.

KiwiRail has been given funding through the Government’s NZ Upgrade Programme for the first phase of development.

The locations for the new stations are designed to maximise connections with future town centres, new housing, and other public transport routes.

The aim is ensure the wider area has a robust public transport system to enable long-term housing and business growth. Other factors considered included the existing railway track alignment, the distance between stations, and environmental and ecological features.

The fully developed stations will have a bus interchange and Park & Ride facilities along with other infrastructure. We are working to confirm the exact footprint which will be needed for the associated facilities for the fully developed stations and will then begin the process of protecting the land.

Waka Kotahi National Manager System Design Robyn Elston says: “We are focusing on how longer-term road and rail projects can give people more connected public transport choices and help them move around safely and easily. We’re looking forward to talking to communities about how to make these projects happen.”

The planned railway stations are part of the $2.39 billion of transport improvements in southern Auckland that Waka Kotahi and KiwiRail are delivering as part of the Government’s New Zealand Upgrade Programme.

Other improvements will include SH1 Papakura to Drury South, Mill Road and Papakura to Pukekohe rail electrification. They are part of a longer term transport network being investigated and delivered to support growth in south Auckland.

Public information sessions on the rail developments in Southern Auckland are being held in Drury on February 18th and Pukekohe on February 20th.

The proposed locations for the three stations are:

Drury Central will be located on the existing rail line south of Waihoehoe Road, between Flanagan and Great South Roads.

Drury West will be located on the existing rail line, about 450 m south of the existing intersection of SH22 / Karaka Road and Jesmond Road.

Paerata will be located on the existing rail line, adjacent to the planned eastern extent of the Paerata Rise development.

European Commission Clears Alstom’s acquisition of Bombardier Transportation

August 3, 2020 / WIL BALDWIN

Alstom and Bombardier welcome the European Commission’s (EC) decision for conditional clearance of the proposed acquisition of Bombardier Transportation by Alstom.

The Commission’s approval for the transaction is conditional on the proposed engagements that consist of:

A transfer of Bombardier Transportation’s contribution to the V300 ZEFIRO very high-speed train and an offer of IP licence to Hitachi for the train co-developed by Hitachi and Bombardier Transportation for use in future very high-speed tenders in the UK
The divestment of the Alstom Coradia Polyvalent and the Reichshoffen production site in France
The divestment of the Bombardier TALENT 3 platform and dedicated production facilities located within the Hennigsdorf site in Germany
Providing access to certain interfaces and products for some of Bombardier Transportation’s Signalling On-Board Units and Train Control Management Systems (TCMS)

The divestitures will comply with all applicable social processes and consultations with employee representatives’ bodies.

The transaction remains subject to further regulatory approvals in several other jurisdictions and customary closing conditions.

Closing of the acquisition is expected for the first half of 2021.

Norwegian Air Could Run Out of Cash Unless Debt Plan Approved

April 27, 2020 / WIL BALDWIN

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

Norwegian Air Shares Plummet 60% After Proposed Rescue Plan

April 14, 2020 / WIL BALDWIN

OSLO (Reuters) – The shares of Norwegian Air plunged by more than 60% on Tuesday as they resumed trade after the airline proposed a financial rescue package on April 8 that would significantly dilute existing equity.

If approved by creditors and shareholders, the plan would convert $4.3 billion of debt into equity, and also raise some new equity, wiping out much of the remaining value of the company’s current shares.

The budget carrier has grounded most of its fleet due to the impact of the COVID-19 outbreak on travel and on March 16 announced the temporary layoff of 7,300 staff, about 90% of its workforce.

Norwegian’s shares plunged 62.5% in early trade to an all-time low of 3.10 crowns, valuing the company at just 500 million Norwegian crowns ($48.8 million).

Norwegian was facing financial problems even before the coronavirus outbreak. Before Tuesday’s fall, its shares were down 78% this year, underperforming other major European airlines, which were down between 30% and 60%.

The airline must now convince its creditors to agree to the rescue plan before it is put to a shareholders’ vote on May 4.

The Oslo stock exchange said on Tuesday that trading in Norwegian’s shares would be subject to special observation until there was further clarification of the airline’s situation.

Special observation is used under circumstances that may make the valuation of a security particularly uncertain, according to the market operator’s guidelines.

($1 = 10.2490 Norwegian crowns)

(Reporting by Terje Solsvik, editing by Gwladys Fouche/Victoria Klesty/Susan Fenton)

Passengers board a Norwegian Air plane in Kirkenes, Norway

What Air France-KLM’s Bid For Malaysian Airlines Stake Could Mean For Delta

January 21, 2020 / WIL BALDWIN

Delta Air Lines, Inc. (NYSE: DAL) traded down 1.8% Tuesday shortly after its global affiliates announced a bid for an embattled airline.

In an early round of bidding against other international airlines, Air France-KLM proposed to buy a 49% stake in Malaysia Airlines. Its pitch outlined plans for a maintenance hub in the Southeast Asian nation.

The circumstances of the bid are not particularly positive. Malaysia Airlines has struggled to revive booking rates since two disasters in 2014 tanked its public trust. Flight MH370 mysteriously disappeared over the Indian Ocean, and flight MH17 was shot down over Ukraine. The Malaysian government has since sought a strategic partner to restore the airline’s image.

Why It’s Important

With a stake in Malaysian Airlines, Air France-KLM could improve the entity’s public trust issues — or it could be hampered by them. Either way, an affiliation may create risk for Delta.

Click the link for the full story!

https://finance.yahoo.com/news/air-france-klms-bid-malaysian-153046986.html

Boeing Addresses New 737 MAX Software Issue

January 17, 2020 / WIL BALDWIN

WASHINGTON (Reuters) – Boeing Co <BA> said on Friday it is addressing a new software issue discovered in Iowa last weekend during a technical review of the proposed update to the grounded Boeing 737 MAX, a development that could further delay the plane’s return to service.

“We are making necessary updates,” Boeing said in a statement. Officials at the planemaker said the issue relates to a software power-up monitoring function that verifies some system monitors are operating correctly.

One of the monitors was not being initiated correctly, officials said. The monitor check is prompted by a software command at airplane or system power up, and will set the appropriate indication if maintenance is required, company officials added.

The Federal Aviation Administration (FAA) did not immediately comment. ABC News reported the issue early Friday.

Boeing is halting production of the 737 MAX this month following the grounding in March of its best-selling plane after two fatal crashes in five months killed 346 people.

U.S. regulators are waiting for an update from Boeing on how they will resolve the issue. A U.S. official briefed on the matter said Friday the FAA is now unlikely to approve the plane’s return until March but it could take until April.

This week, American Airlines Group Inc <AAL> and Southwest Airlines Co <LUV> both said they would extend cancellations of MAX flights until early June.

Also this month, the FAA and Boeing said they were reviewing a wiring issue that could potentially cause a short circuit on the grounded 737 MAX. Officials said the review is looking at whether two bundles of wiring are too close together, which could lead to a short circuit and potentially result in a crash if pilots did not respond appropriately.

U.S. and European aviation safety regulators met with Boeing in an effort to complete a 737 MAX software documentation audit that was begun in November. Documentation requirements are central to certification for increasingly complex aircraft software, and can become a source of delays.

(Reporting by David Shepardson; Editing by Chris Reese and David Gregorio)

Canadian Agency Mandates Onex Meet Ownership Rules on WestJet Deal

December 11, 2019 / WIL BALDWIN

(Reuters) – The Canadian Transportation Agency said on Tuesday Onex Corp will need to amend its by-laws to meet the country’s ownership rules related to its proposed C$3.5 billion buyout deal of Canada’s second-largest carrier WestJet Airlines.

The agency has sought the amendment to Onex’s by-laws to ensure that matters related to WestJet are voted where a majority of Canadian directors are present.

WestJet said it is in the process of reviewing the determination.

Air Canada had challenged Onex Corp’s proposed acquisition of WestJet Airlines, on grounds that the deal may not meet the country’s ownership rules. (https://reut.rs/2LHqQvk)

Air Canada had argued that the likely presence of Onex co-investors such as foreign wealth funds and carriers, and “the opaque nature” of the deal to buy WestJet through company subsidiary Kestrel Bidco, will make it harder to ensure compliance with ownership laws.

Under Canada’s Transportation Act, carriers must be Canadian and controlled by Canadians in order to hold a domestic licence.

Shareholders of WestJet Airlines in July voted in favor of the Onex deal.

Under Canadian rules, foreigners cannot own more than 49% equity in a Canadian airline. The rules further restrict a foreign airline and any single foreign owner from controlling more than a quarter of voting interests in a Canadian carrier.

Onex did not immediately respond to Reuters request for comment.

(Reporting by Arundhati Sarkar in Bengaluru; Editing by Shailesh Kuber and Uttaresh.V)

Talgo, Transport Scotland and Scottish Enterprise Sign Framework Agreement

November 11, 2019 / WIL BALDWIN

Talgo, together with Scottish Enterprise and Transport Scotland, has signed a jointly agreed framework for the establishment of Longannet, Fife as a manufacturing base for Talgo UK. The agreement is part of arrangements to ensure that Talgo UK will be ready to deliver contracts that Talgo is currently bidding for (and future bids), should the company be successful.

The framework agreement sets out each party’s commitment – to ensure that the proposed multi – million £ factory at Longannet is prepared and delivered at an agreed time and to an agreed specification. This milestone will ensure that Talgo will meet contractual deliverables for the contracts that are being evaluated and proposed.

TALGO is a leading specialised rolling stock engineering company mainly focused on designing, manufacturing and servicing technologically differentiated, fast, lightweight trains.

There are TALGO solutions in 44 countries, and TALGO has an industrial presence in 7 regions, including Spain, Germany, Kazakhstan, Uzbekistan, Russia, the Middle East and the United States. TALGO is renowned worldwide for its innovation, its unique technology, and reliability.

A key part of TALGO UK’s strategy is ‘knowledge transfer’ – building UK domestic capacity for Research and Development. An innovation hub is also planned in Chesterfield. It will act as a focal point for TALGO UK’s Research and Development, bringing together networks of engineering excellence, and creating new opportunities throughout the British Isles.

Talgo President, Carlos de Palacio y Oriol, said: ‘We are committed to Scotland in our bid process. Today’s milestone marks a new phase in an excellent relationship with’ team Scotland. Now let’s get on with securing orders that will bring more jobs and ‘true manufacturing’ of rolling stock back to Scotland’

Executive Director, Scottish Enterprise, Paul Lewis, said: “This Framework agreement is another significant milestone in our work with Talgo, to achieve its ambition of establishing a world-class high value manufacturing facility at Longannet. Scottish Enterprise and our partners are incredibly excited by Talgo’s plans for Longannet, which would deliver 1,000 direct jobs and a host of supply chain opportunities for companies in Scotland’

United, Avianca and Copa’s South American Deal Delayed as They Mull Fourth Partner

October 28, 2019 / WIL BALDWIN

BRASILIA, Oct 28 (Reuters) – A proposed joint venture between United Airlines, Colombia’s Avianca Holdings and Panama’s Copa Holdings has been delayed due to the potential inclusion of a fourth partner, as well as problems at Avianca, the CEOs of two of the companies said.

United Airlines said last week it wants to include Brazil’s Azul SA, in which it already has a stake, in the planned tie-up with Copa and Avianca, the latest play by a U.S. carrier for a region expected to have significant air-travel growth in coming decades.

The three airlines had said in November 2018 they would file for U.S. antitrust approval “in the near term” in order to coordinate routes between South America and the United States, a bold move to expand their market share in the region. At the time, the carriers said they aimed to implement the agreements in 2020.

But almost a year after United, Copa and Avianca announced the preliminary joint venture plan, they have yet to file any paperwork with the U.S. Department of Transportation, seeking antitrust immunity. Now, the regulatory process may begin as late as next year, they said.

Copa Chief Executive Officer Pedro Heilbron said the group expects to file in early 2020, while Avianca CEO Anko van der Werff, said it would file between late 2019 and early 2020. Both spoke to Reuters in separate interviews on Monday on the sidelines of the ALTA Airline Leaders’ Forum in Brasilia.

Both said there was a delay on the original timeline.

United did not comment on a delay but said it planned to complete the application later this year or early next year. Azul had no comment other than saying it was “always looking for opportunities with its partners.”

The potential inclusion of Azul, which may be in the early stages of negotiations, has been one reason for the timetable slipping.

“Quite frankly, really completely open and honest, we haven’t had many discussions,” van der Werff said. “I personally haven’t had even one real, serious discussion at the CEO level about when to include and what to include.”

Both executives said they want Azul to be part of the joint venture – Brazil is by far the largest aviation market in the region – but its inclusion makes negotiations more difficult.

“It almost doubles the level of complexity,” Heilbron said.

Avianca has also gone through corporate turmoil. In May, United Airlines ousted the chairman and controlling shareholder at Avianca, revamping leadership.

“We should have filed with regulators this year but everything got delayed because of what has happened at Avianca,” Heilbron added.

(Reporting by Marcelo Rochabrun in Brasilia Additional reporting by Tracy Rucinski in Chicago Editing by Matthew Lewis and Sandra Maler)

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