Ho Chi Minh City, January, 2024 – Vietjet continues to expand its international flight network with the new route between Ho Chi Minh City and Chengdu, China. The combination will help contribute to promoting trade and tourism between the two cities and two countries, Vietnam and China.
To celebrate the New Year 2024 and the new route Ho Chi Minh City – Chengdu, Vietjet offers thousands of VND0 (*) tickets for passengers who book tickets from today on www.vietjetair.com or the Vietjet Air mobile app with the flight period from February 10, 2024 to March 30, 2024.
Visiting Chengdu, tourists have opportunities to explore the vibrant Chinese culture with famous attractions such as Jinli Ancient Street, Anshun Bridge, Chengdu Research Base of Giant Panda Breeding, or easily come to Jiuzhaigou – a world heritage site recognized by UNESCO, etc. Meanwhile, Ho Chi Minh City is a bustling economic hub of Vietnam with various options traveling in Vietnam and the region via Vietjet’s flight network.
Hilton’s new elevated yet approachable brand is off to the races, breaking ground in Louisville, Kentucky less than 60 days after its launch
MCLEAN, Va. – Hilton (NYSE: HLT) today announced the start of construction of its very first Tempo by Hilton property, hosting a groundbreaking ceremony in Louisville, Kentucky’s trendy NuLu neighborhood. The 130-key, six-story hotel is located at 710 East Jefferson Street and is co-owned by First Hospitality and Weyland Ventures. This inaugural Tempo by Hilton property is slated to open in time for the 2021 Kentucky Derby.
Breaking ground less than eight weeks from the Tempo by Hilton brand launch, this milestone marks one of the shortest time periods from brand announcement to groundbreaking in Hilton history. Additionally, the brand continues to exhibit robust deal momentum, with more than 30 confirmed deals in cities including New York, Maui, Boston and Washington D.C., as well as an additional 40 deals in various stages of development.
“We’ve seen an incredible response from owners who are excited about Tempo by Hilton, and we are working together with them to bring this new offering to market in record time,” said Phil Cordell, SVP and global head of new brand development, Hilton. “The brand delivers a unique blend of elevated yet within reach offerings that have been specifically developed to appeal to the burgeoning class of modern achievers, and we believe that the NuLu neighborhood is exactly the kind of place where Tempo by Hilton will not only fit in but thrive.”
In line with the brand’s commitment to localized touches in each property, this first Tempo by Hilton groundbreaking saw brand representatives and local dignitaries gather for an exciting event that included nods to the historic Kentucky Derby with details such as a burst of rose petals that evoked the famous race also known as the “Run for the Roses”. The ceremonial groundbreaking was symbolized by the staking of a Tempo by Hilton flag into the property site ground.
“We are excited to be the first city in the world to welcome the Tempo by Hilton brand,” said Louisville Mayor Greg Fischer. “Our city’s economy is booming, with more than $15 billion in investment since 2014, more than 1,200 hotel rooms added in the past 18 months, and an additional 1,100 hotel rooms under construction. The Tempo by Hilton will add to that great economic vitality.”
Once open, the new Tempo by Hilton Louisville NuLu will offer a rooftop bar, allowing patrons to sip in style as they take in the surrounding skyline. The property will provide guestrooms that have been designed as welcoming treats with the brand’s signature Power Up and Power Down collections to assist guests with getting energized for the day or winding down for the night, as well as inviting public spaces, including flexible meeting space, a state-of-the-art fitness center, and surprising, uplifting artistic touches.
“As part of the next generation leading First Hospitality, a long-time Hilton partner, I’m beyond proud that we are breaking ground on the very first hotel of this next-generation brand,” said Sam Schwartz, VP of Asset Management for First Hospitality. “We couldn’t be more excited for this property to be going up in NuLu, a neighborhood known for its rich arts and culinary scenes.”
Thoughtfully designed with the modern achiever in mind, the new Tempo by Hilton Louisville NuLu will also provide complimentary coffee and tea via the in-lobby Fuel Bar, as well as a range of additional food and beverage options including an innovative café-style offering serving a variety of smoothies, lattes, breakfast sandwiches, bowls and more, limited market, and in-lobby bar specializing in both spirited and non-spirited craft cocktails.
Tempo by Hilton Louisville NuLu will participate in Hilton Honors, the award-winning guest loyalty program for Hilton’s 18 world-class brands. Hilton Honors members who book directly through preferred Hilton channels will have access to instant benefits, including a flexible payment slider that allows members to choose nearly any combination of Points and money to book a stay, an exclusive member discount, and free standard Wi-Fi. Members can also enjoy popular digital tools available exclusively through the industry-leading Hilton Honors mobile app where Hilton Honors members can check-in, choose their room and access their room using Digital Key.
FILE PHOTO: A traveler checks her baggage at the Southwest Airlines terminal at LAX airport in Los Angeles
(Reuters) – The U.S. Federal Aviation Administration says it should have done a better job of ensuring Southwest Airlines Co <LUV> had certified completion of maintenance on 88 used Boeing 737 jets, as noted in a report by the U.S. Transportation Department’s Inspector General released on Tuesday.
Budget-friendly Southwest bought the planes in question between 2013 and 2017 from 16 foreign carriers.
The final report, first seen by Reuters, said Southwest operated more than 150,000 flights carrying 17.2 million passengers on the jets without confirmation that required maintenance had been completed.
The report said the FAA has not “effectively overseen Southwest Airlines’ systems for managing risks” and made 11 recommendations to improve oversight, including retraining inspectors and developing better control over maintenance records and inspector guidance on evaluating air carrier safety culture.
While the U.S. commercial airline industry is considered safe, with only one fatality in recent years, the FAA is under heightened scrutiny by lawmakers over its relationship with the industry after two crashes overseas on the newer Boeing Co <BA> 737 MAX killed 346 people and led to that aircraft’s global grounding.
“Given the significant unresolved safety concerns that FAA has identified at Southwest Airlines, it is clear that the agency is not yet effectively navigating the balance between industry collaboration and managing safety risks at the carrier,” the report said.
The FAA said in a response included with the report it concurred with all 11 recommendations and the inspector general’s conclusion that its office overseeing Southwest did not perform in accordance with existing guidance by allowing the 88 planes to enter service and that it “lacked a comprehensive conformity inspection for used aircraft.”
Southwest told Reuters on Tuesday that eight of the 88 jets remain out of service until needed repairs are completed and that it disagreed with the report’s findings.
The report chided the FAA, saying the agency “accepted the air carrier’s justification that the issues identified were low safety risks.”
The FAA noted it changed the leadership of its office that oversees Southwest and “continues to address deficiencies in the work functions and culture.” The agency has agreed to ensure Southwest “complies with regulatory requirements that the 88 previously owned aircraft conform to U.S. aviation standards.”
Last month, the Wall Street Journal published an article on a draft of the inspector general report.
The report also said the FAA violated its own guidance in addressing noncompliance by Southwest on baggage weight and balance data. The FAA agreed to ensure Southwest complies with requirements.
On Jan. 10, the FAA said it was seeking to impose a $3.92 million fine on Southwest for alleged weight infractions on 21,505 flights on 44 aircraft between May 1, 2018 and Aug. 9, 2018.
Southwest has said it is working with the FAA to demonstrate the effectiveness of its controls and seek a resolution on the proposed penalty.
Southwest shares closed up 0.9% on Tuesday, off intraday highs.
(Reporting by David Shepardson in Washington and Tracy Rucinski in Chicago; Editing by David Gregorio and Matthew Lewis)
FILE PHOTO: A Southwest Airlines Boeing 737 plane sits on the runway waiting to take off at LAX airport in Los Angeles
DEARBORN, Mich. (Reuters) – Investors sent Ford Motor Co shares skidding on Tuesday after the company delivered a weaker-than-expected 2020 forecast, warning of higher warranty costs, lower profits at its credit arm and continued investments in future technology such as self-driving cars.
Shares in the No. 2 U.S. automaker plunged 9.4% in after-hours trading, shaving more than $3 billion off the company’s value. In comparison, electric carmaker Tesla closed up nearly 14%, pushing its market cap to $160 billion, more than four times the size of Ford’s $36.4 billion.
“The results were not OK in 2019,” Ford Chief Financial Officer Tim Stone told reporters at the company’s headquarters outside Detroit.
“As I look to 2020 and beyond, I’m very optimistic,” he said, while cautioning that Ford’s lower guidance does not yet account for the potential impact of the coronavirus outbreak in China.
In an after-hours call with financial analysts, Chief Executive Jim Hackett was more blunt about the challenge of balancing Ford’s protracted turnaround efforts with its continuing work on future technology, including electric and self-driving cars.
“I don’t think this company can keep straddling the old and new worlds forever … This company has to change,” Hackett said.
Ford said it expects 2020 operating earnings to be in the range of 94 cents to $1.20 a share. Analysts were expecting $1.26 a share.
Stone said Ford expects to continue its quarterly dividend of 15 cents, which could cost the company $2.4 billion in 2020. Asked about continuing the dividend after lowering its 2020 guidance, Hackett said, “We like to return value to shareholders.”
The disappointing 2020 forecast, coming after Ford previously trimmed its 2019 outlook, is a blow for Hackett, who took the helm in May 2017.
He has been asking investors to be patient with a restructuring that has seen the formation of a wide-ranging alliance on commercial, electric and autonomous vehicles with Volkswagen AG <VOWG_p.DE> and the sale of its money-losing operations in India to a venture controlled by India’s Mahindra & Mahindra.
But by Ford’s own accounting, the restructuring is far from complete. It has booked $3.7 billion of the projected $11 billion in charges it previously said it would take, and expects to book another $900 million to $1.4 billion this year.
For the fourth quarter of 2019, Ford reported a net loss of $1.7 billion, or 42 cents a share, compared with a loss of $100 million, or 3 cents a share, a year earlier.
The quarter included a loss of $2.2 billion due to higher contributions to its employee pension plans, something it disclosed last month.
Revenue in the quarter fell 5% to $39.7 billion, above the $36.5 billion Wall Street had expected.
Ford’s adjusted free cash flow fell 67% in the fourth quarter to $500 million, including the $600 million cost of bonuses related to a new labor deal with the United Auto Workers union. The UAW deal also played a role in driving North American automotive profit margins down to 2.8% in the fourth quarter.
Ford said its operating losses in China last year totaled $771 million, including a loss of $207 million in the fourth quarter. It lost $1.5 billion in 2018. Ford’s market share in China in the fourth quarter fell to 2% from 2.3% last year.
In December, Ford said it would halve its operating loss in 2019 and nearly halve it again in 2020, followed by further improvement in 2021.
However, that forecast was before the appearance of the fast-spreading coronavirus and its crippling effects on China’s economy.
Ford’s China sales fell about 15% in the fourth quarter and 26% for the year as it continued to lose ground in its second-biggest market. Ford has been struggling to revive sales in China since its business began slumping in late 2017.
Detroit rivals General Motors Co and Fiat Chrysler Automobiles are scheduled to report their results on Wednesday and Thursday, respectively.
(Reporting by Ben Klayman and Paul Lienert; Editing by Tom Brown)
CHICAGO (Reuters) – United Airlines Holdings Inc <UAL> on Tuesday beat Wall Street estimates for quarterly profit and held to its 2020 profit target, with a turnaround strategy overseen by its outgoing CEO underpinning growth even as the Boeing 737 MAX remains grounded.
Chicago-based United is one of three U.S. airlines cancelling more than 1,000 monthly flights in a hit to profits as the 737 MAX remains grounded following two deadly crashes in Indonesia and Ethiopia. Boeing Co <BA> said on Tuesday it does not expect approval for the 737 MAX’s return to service until mid-year, later than previously forecast.
While United has warned of a hit from the MAX grounding, it did not disclose any estimated financial impact from the fallout and stood by its full-year adjusted EPS range of $11 to $13.
Total operating revenue rose 3.8% to $10.89 billion, boosted by strong travel demand and Chief Executive Oscar Munoz’s three-year strategy to build up the airline’s flight connections through its main U.S. hubs. United President Scott Kirby will succeed Munoz as CEO later this year.
Revenue per mile flown, a closely watched industry measurement, rose 0.8% in the fourth quarter and United forecast similar growth in the first quarter given solid bookings.
However, unit costs excluding fuel and profit-sharing expenses, a concern for investors in a year of contract negotiations with pilots, rose 2.7%.
United had already announced a non-cash impairment charge of $90 million in the fourth quarter related to its Hong Kong routes, following anti-government protests in the city.
Shares of United closed 4.4% lower at $85.79 before the earnings release, tracking sharp declines for U.S. airline and travel stocks on concerns over the Wuhan coronavirus in China, which J.P.Morgan analyst Jamie Baker said poses a near-term overhang for airlines.
United did not comment on the outbreak in its results but separately said there is no impact on its operations and it remains in close contact with U.S., Chinese and other Asian authorities on safety.
United management will host a conference call to discuss results on Wednesday at 10:30 a.m. EST (1630 GMT).
Adjusted net income rose to $676 million, or $2.67 per share, in the fourth quarter to Dec. 31, from $657 million a year earlier, topping a Wall Street consensus forecast for $2.65 per share.
Fellow U.S. MAX operators Southwest Airlines Co <LUV> and American Airlines Group Inc <AAL> are due to report quarterly results on Thursday.
The three airlines are scheduling without the MAX until early June though that timeline will likely need to be pushed back following Tuesday’s guidance from Boeing.
United, which had 14 737 MAX jets in its fleet at the time of the grounding, said it plans to take delivery of 28 MAX variants in 2020 depending on U.S. regulatory approval and Boeing’s subsequent pace of production and deliveries.
Among other aircraft orders, it expects to take delivery of two Boeing 777-300’s and 15 Boeing 787’s in 2020 but has decided to assign its purchase obligations for 20 Embraer 175’s to one of its regional partners once each jet is delivered.
(Reporting by Tracy Rucinski in Chicago; Additional reporting by Dominic Roshan K L in Bengaluru; Editing by Matthew Lewis)
An American Airlines Boeing 737 MAX 8 flight approaches to land at Reagan National Airport in Washington
Workers leave the General Motors CAMI car assembly plant where the GMC Terrain and Chevrolet Equinox are built in Ingersoll
WASHINGTON (Reuters) – General Motors Co <GM> will revive the Hummer name to sell a new family of electric pickup trucks and sport utility vehicles and will tout the return with a Super Bowl ad featuring NBA star LeBron James, two people briefed on the matter said on Friday.
The vehicles will be sold under the GMC nameplate. Reuters reported in October that GM planned to build a new family of premium electric pickup trucks at its Detroit-Hamtramck plant beginning in late 2021 and was considering reviving the Hummer name, citing several people familiar with the plans.
The Wall Street Journal reported GM’s decision to move forward earlier on Friday. GM declined to comment.
The electric truck and SUV program is the centerpiece of a planned $3 billion investment in the Detroit-Hamtramck plant to make electric trucks and vans, and part of a broader $7.7 billion (5.9 billion pounds) investment in GM’s U.S. plants over the next four years that was part of a new contract signed with the United Auto Workers union last year.
The investment moves the automaker into a part of the EV market that is largely untested and where GM has a higher likelihood of turning a profit, analysts said.
Reuters reported GM plans to first build EV pickups in late 2021 and then an electric SUV in 2023.
Tesla <TSLA> CEO Elon Musk in November unveiled an electric pickup called “Cybertruck” it plans to build starting in late 2021.
Rivian, a start-up electric company backed by Amazon.com <AMZN>, will begin building 100,000 electric delivery vans for Amazon starting in 2021.
Hummers were rugged civilian utility vehicles with low gas mileage that were inspired by military vehicles and were popular with such celebrities as actor Arnold Schwarzenegger but derided by environmentalists as gas-guzzlers. GM shut down its Hummer brand after a deal to sell the SUV-line to an obscure Chinese machinery maker was blocked by Chinese regulators in 2010.
Michael Harley, executive editor for Kelley Blue Book, noted “the original Hummer was ostracized out of showrooms for being heavy and ponderous with an insatiable appetite for gasoline. An all-electric powertrain essentially exonerates the truck on all charges.”
Electric pickups and SUVs – the heart of the U.S. market – could help Ford Motor Co <F> and GM generate significant sales of EVs needed to meet tougher California emission standards and electric vehicle mandates.
The Trump administration is moving to roll back those standards – and eliminate extra credits that automakers receive from EV sales but electric trucks are a hedge if California prevails.
(Reporting by David Shepardson; Editing by Sandra Maler and Alistair Bell)
Alstom congratulates Transport for New South Wales (TfNSW), on the opening of the CBD and South East Light Rail project and the start of revenue service, returning Light Rail back down Sydney’s George St for the first time in more than 60 years.
Alstom, as part of the ALTRAC Light Rail consortium[1], has been responsible for the integrated light rail system that included the design, delivery and commissioning of 60 Citadis X05 Light Rail Vehicles (LRV), power supply equipment including APS – the wire-free ground-based power supply (over two kilometres), the energy recovery substations – HESOP, signalling, communications, depot equipment and 19 years of maintenance.
The new 12km network has been delivered under a turnkey PPP model that will provide the commuters of Sydney with frequent, reliable, high capacity services running from Circular Quay in the city’s CBD to Central Station, then south east to Randwick. Each LRV has a capacity of 450 passengers – the equivalent of nine standard buses and will move up to 13,500 commuters per hour (6,750 in each direction) during peak times once fully operational. Normal tram services will operate seven days a week between 5am and 1am.
As part of the contract, the consortium has also taken over the operations and maintenance of the existing Inner West Light rail (IWLR) that connects Sydney’s inner west with the Pyrmont peninsula, Darling Harbour and the southern CBD. Alstom is also responsible for the maintenance of the existing system which includes 12 CAF Light Rail Vehicles.
“Alstom is extremely proud to be a part of this iconic project” said Mark Coxon, Managing Director for Alstom in Australia & New Zealand, “This new Light Rail system will transform Sydney and provide a step change in the city’s public transport capability and reliability while protecting the aesthetic appeal of the CBD and improving sustainability of the overall transport network”
[1] Made up of Alstom, Transdev, Acciona and Capella
Oct 15 (Reuters) – United Airlines on Tuesday topped Wall Street estimates for quarterly profit, boosted by higher fares and lower fuel costs, and lifted its 2019 profit target despite the continued grounding of the Boeing 737 MAX.
Chicago-based United is one of three U.S. airlines that have each had to cancel more than 2,000 monthly flights through the end of the year as Boeing Co’s 737 MAX remains grounded following two deadly crashes in Indonesia and Ethiopia.
The flight cancellations have weighed on airline profits and costs, but strong travel demand, despite concerns of a global economic slowdown, continued to offset MAX headwinds and disruption in Hong Kong and China.
As a result, United raised its 2019 adjusted diluted earnings per share guidance to $11.25-$12.25 versus $10.50-$12.00 previously.
United shares, which closed up 1% at $87.88 before the earnings release, were about 1% higher in after-hours trading.
Total operating revenue rose 3.4% to $11.38 billion, underpinned by the airline’s three-year strategy to build up flight connections through its main U.S. hubs.
But closely watched unit costs excluding fuel and profit-sharing expenses, a concern for investors, rose 2.1%.
The airline, which is in talks with Boeing over 737 MAX compensation, did not provide any details on the estimated financial impact of the grounding.
Adjusted net income rose to $1.05 billion, or $4.07 per share, in the third quarter, from $834 million or $3.05 per share a year earlier.
Analysts on average had forecast $3.95 per share, according to IBES data from Refinitiv.
United management will host a conference call to discuss results on Wednesday at 10:30 a.m. EDT (1430 GMT).
Fellow U.S. MAX operators Southwest Airlines and American Airlines, which have both warned of a pretax profit hit from the MAX grounding, are due to report quarterly results next week.
United, Southwest and American are all scheduling without the MAX until early January.
(Reporting by Tracy Rucinski in Chicago and Sanjana Shivdas in Bengaluru Editing by Shinjini Ganguli and Matthew Lewis)
DEARBORN, Mich., Aug. 12, 2019 – As the greatest-ever Mustang performance lineup hits the streets, the 2020 Mustang Shelby GT350R picks up new performance tech and colors from its stablemates to make it more fun to drive on the track and off.
Enhancing handling and steering responsiveness, Shelby GT350R refinements for 2020 include redesigned front suspension geometry with a redesigned high-trail steering knuckle leveraged from the all-new Shelby GT500. To elevate driver confidence and steering precision, a new steering rack and recalibrated electric power steering control is also added.
“It’s always been our plan to take the latest innovations from the GT500 program and strategically apply them across the Mustang lineup,” said Ed Krenz, Ford Performance chief program engineer. “These latest updates to the GT350R keep its performance competitive and on the top if its game, whether that’s on the track or on the street.”
GT350R continues to also deliver against aggressive targets for weight reduction with a rear seat delete and carbon fiber wheels. Exhaust resonators also have been removed for weight savings with the benefit of creating a sharper exhaust tone.
For customers seeking more comfort in their Shelby GT350R, Ford offers an available Technology Package with a 12-speaker B&O premium sound system, Blind Spot Information System with Cross-Traffic Alert, Cobra Puddle Lamps and voice-activated navigation.
Also standard are carbon fiber wheels, larger front splitter and rear wing.
Standing apart from GT350, GT350R features distinct design details. Exterior touches include red painted brake calipers, red pin striping at the edges of the optional over-the-top racing stripes and Shelby GT350R badging. Inside is high-contrast red stitching, Shelby GT350R badging and the D-shaped steering wheel fitted with a red center mark at the top.
Shelby GT350 2020 Shelby GT350 carries over previous updates, including the latest advances in tire, aerodynamics and chassis technology. GT350 shares some new Mustang colors and new driver technologies. Grabber Lime and Twister Orange are two bright, new heritage feature colors that trace back to the 1970s, while new Iconic Silver and Red Hot Metallic provide some classic hues to the lineup.
FordPass Connect™, now standard on Mustang for 2020, allows owners to interact with their vehicles via a smartphone. Using FordPass Connect’s phone application, GT350 owners can locate their parked car, lock and unlock it, and check vehicle status, such as fuel, oil levels and maintenance alerts. The availability of these features varies by market.
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GT350, GT500 and Shelby are registered trademarks of Carroll Hall Shelby Trust. Horsepower and torque ratings are based on using fuel as per SAE J1349 standard; actual performance may vary.
Every day, Wall Street analysts upgrade some stocks, downgrade others, and “initiate coverage” on a few more. But do these analysts even know what they’re talking about? Today, we’re taking one high-profile Wall Street pick and putting it under the microscope…
After underperforming the S&P 500 by more than 17 points over the past year, Alaska Air Group (NYSE: ALK) delivered a pleasant surprise to its shareholders last week, outperforming analyst expectations and beating on both earnings and revenue. The $0.17 per share that Alaska earned in fiscal Q1 2019 topped consensus estimates by more than 50% — and the airline even eked out a small sales beat with its $1.88 billion in Q1 revenue.
