Tag: taxes

Icelandair welcomes its newest gateway of Pittsburgh

November 2, 2023 / WIL BALDWIN

Icelandair Group (Iceland: ICEAIR) returns to Pennsylvania with today’s announcement of our newest American gateway of Pittsburgh International Airport (PIT). Flights now on sale starting at $499 round-trip!

This new service opens the Appalachia region of the American Midwest to new options for traveling to Iceland and beyond. Seasonal service begins May 16, 2024 and runs through October 27, 2024 utilizing our newest aircraft, the Boeing (NYSE: BA) 737 MAX-8. Flights will operate four times weekly, on Sundays, Tuesdays, Thursdays and Fridays.

To celebrate today’s exciting announcement, sale fares to Iceland starting at $499 round-trip, including all taxes and fees, are available to book now through Wednesday, November 8!

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.

Alaska Airlines Gives New California Mileage Plan Members a Deal to Remember

March 2, 2021 / WIL BALDWIN

SEATTLE, March 1, 2021 /PRNewswire/ — Starting today, California residents who enroll in the Alaska Airlines (NYSE: ALK) Mileage Plan™ now through March 3, 2021 can book that long-awaited trip to visit Napa Valley, the world-famous San Diego Zoo, or any other California destination with a flight on Alaska Airlines.*

The “California, on us” offer is open to the first 25,000 California residents who sign up for Alaska Airlines Mileage Plan™ between now and March 3, 2021. Eligible new members will receive a discount code valid for one flight to anywhere Alaska Airlines flies within California for just the taxes and fees from $15 each way.

“We’ve made our mark in California, and we love converting new fans into loyal ones,” said Natalie Bowman, Alaska Airlines’ managing director of marketing and advertising. “There’s so much West Coast territory for Californians to explore––especially within their own state––that we’re excited to offer a fun way to jumpstart earning Alaska miles doing just that.”

The first 25,000 eligible new Mileage Plan members who sign up between March 1 and March 3, 2021 will receive an email on March 5, 2021 with instructions on how to take advantage of this promotion which will need to be booked between March 5-7, 2021 for travel between March 29 and May 26, 2021. To register and find more information, visit alaskaair.com/california.

In addition, everyone is eligible for 30% off flights to or from California by booking today through March 3, 2021 for travel between March 22 and May 26, 2021. To purchase tickets and for more information, visit alaskaair.com/safetydance.

With a focus on helping guests travel safely when they feel comfortable, Alaska has implemented more than 100 safety measures as part of the airline’s commitment to Next-Level Care. The airline emphasizes a layered approach to safety, which starts with the requirement that all employees and guests wear a face mask or covering through the airport and on board, with no exceptions. To further demonstrate the airline’s safety protocols, the Alaska Safety Dance highlights many of the ways in which the airline is keeping guests and employees safe including enhanced cleaning between flights, HEPA air filtration, and touch-free technology. To travel, flyers must also enter into a health agreement at check-in to confirm that they are not experiencing COVID-19 symptoms and will adhere to the mask policy.

Air Canada Reports 2020 Annual Results

February 14, 2021 / WIL BALDWIN

Air-Canada-Reports-2020-Annual-Results-Feb-12-2021

Kansas City Southern and NorthPoint to Develop 220-Acre Wylie Logistics Park in Texas

January 21, 2021 / WIL BALDWIN

KANSAS CITY, Mo.–(BUSINESS WIRE)– Kansas City Southern (NYSE: KSU) announced today that it has entered into a joint agreement with NorthPoint Development to develop the master planned Wylie Logistics Park in Wylie, Texas, located adjacent to KCS’ David L. Starling Wylie Intermodal Terminal.

The Wylie Logistics Park offers 2.4 million square feet of potential building capacity for traditional warehousing and distribution; industrial grade amenities; dual feed electrical system with redundant power; as well as a heavy-haul road network comprised of direct access to Highway 78 and the interstate system, air and seaports, and a state-of-the-art intermodal terminal.

“KCS is pleased to enter into this agreement with NorthPoint Development for the Wylie Logistics Park,” said KCS vice president chemical and energy products Ginger Adamiak, who also leads the company’s industrial development team. “Wylie is part of the Dallas metro area, the fourth fastest growing industrial market in the U.S., and Wylie offers a business-friendly environment, low taxes and a double free port exemption.”

“We are extremely bullish on the opportunities that the Wylie Logistics Park offers,” said NorthPoint Development president/founding partner Chad Meyer. “Wylie is a supportive, pro-business municipality partnering with a unique Class I intermodal facility that has the best direct connectivity to the growing east coast ports. Couple this with exceptional demographics from an eCommerce demand and the great labor pool that this development requires and you have all of the ingredients for a very successful project.”

KCS’ Wylie Intermodal Terminal opened in 2015 and expanded in 2018. It now offers track capacity of 19,000 feet and annual lift capacity of 342,000, resulting in fluid and efficient availability of containers and improved on-time arrivals and departures. The terminal also boasts 1,800-wheeled parking spaces (with room to expand); 300 container stack spots; an Automated Gate System (AGS) with high definition imagery; optical character recognition and biometric driver identification; enhanced traffic signals and specific turn lanes.

“The Wylie Logistics Park is ideal for customers looking to combine logistics and real estate in one location,” said KCS vice president intermodal and automotive Rodrigo Flores. “Locating in the park will provide tenants and customers significant cost savings by reducing drayage from ramp to facility and providing quick access to the regional interstate network. Customers will also enjoy the environmental benefits of intermodal transportation and connectivity to other intermodal and port facilities on KCS’ U.S. and Mexico rail network.”

https://www.youtube.com/watch?v=RxbwWqQeMe8&feature=youtu.be

United Airlines Announces 2020 Financial Results

January 20, 2021 / WIL BALDWIN

CHICAGO, Jan. 20, 2021 /PRNewswire/ — United Airlines (NASDAQ: UAL) today announced fourth-quarter and full-year 2020 financial results. The company continues its efforts to lead the industry as it manages the most disruptive crisis in aviation history.

Since the beginning of the COVID-19 crisis, United has raised over $26 billion in liquidity and made important progress in reducing core cash burn (see detailed chart below) to ensure the company’s survival. Over the last three quarters, the company has identified $1.4 billion of annual cost savings and has a path to achieve at least $2.0 billion in structural reductions moving forward. United ended 2020 with $19.7 billion in available liquidity¹, including an undrawn revolver capacity and funds available under the CARES Act loan program from the U.S. Treasury.

Having stabilized its financial foundation, the company expects 2021 to be a transition year that’s focused on preparing for a recovery. United has resumed heavy maintenance and engine overhauls, investments that are essential to recovery when demand returns. The combination of structural cost reduction and timely investments will help set up United to exceed its 2019 adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) margin in 2023. The company expressed high confidence that it would achieve this target by 2023 – and said its ongoing recovery planning would help ensure the company was equipped to reach this level even sooner, if demand returns more quickly.

“Aggressively managing the challenges of 2020 depended on our innovation and fast-paced decision making. But, the truth is that COVID-19 has changed United Airlines forever,” said United Airlines CEO Scott Kirby. “The passion, teamwork and perseverance that the United team showed in 2020 is exactly what will help us build a new United Airlines that’s better, stronger and more profitable than ever. I could not be prouder of – and more grateful to – this team, which is going to lead us there.”

Click the link below to see the full press release!

https://hub.united.com/2021-01-20-united-announces-2020-financial-results-2021-will-focus-on-transition-to-recovery-expects-to-exceed-2019-adjusted-ebitda-margin-by-2023-2650045521.html

After Tesla’s Record Year in Norway, Rivals Gear Up for 2020

January 3, 2020 / WIL BALDWIN

FILE PHOTO: A 2018 Tesla Model 3 electric vehicle is shown in Cardiff, California

OSLO (Reuters) – The sale of new electric cars in Norway rose by 30.9% last year amid soaring demand for Tesla Inc’s <TSLA> vehicles, but the pioneering U.S. firm faces rising competition from rival auto makers in 2020.

Fully electric cars made up 42.4% of sales in the Nordic nation last year, a global record, rising from a 31.2% market share in 2018 and just 5.5% in 2013, the Norwegian Road Federation said on Friday.

Seeking to become the first country to end the sale of fossil-fueled cars by 2025, Norway exempts battery-powered vehicles from the taxes imposed on petrol and diesel engines.

This year, as many as six in 10 of all new cars sold in the country could be fully electric, said Volkswagen <VWAPY> distributor Harald A. Moeller AS, which is preparing to launch several models in 2020.

“The electrification of the car market is accelerating … we forecast electric vehicles to hold a 100% market share in 2025,” the importer said of the outlook for Norway.

The country’s best-selling car in 2019 was Tesla’s mid-sized Model 3 sedan, which retails from 384,900 Norwegian crowns ($43,721.74), racking up an 11% market share in the California-based firm’s first attempt at addressing the mass market.

(Reporting by Victoria Klesty and Lefteris Karagiannopoulos, writing by Terje Solsvik, editing by Gwladys Fouche)

Italy Tax Authorities Say Fiat Underestimated Value of Chrysler by $5.6 Billion

December 4, 2019 / WIL BALDWIN

MILAN (Reuters) – Italian tax authorities believe that Fiat Chrysler Automobiles <FCAU> underestimated the value of its U.S. business by 5.1 billion euros following Fiat’s phased acquisition of Chrysler, according to a company filing and a source close to the matter.

The audit, which concerns transactions dating back to 2014, could result in FCA having to pay back taxes for $1.5 billion, the source added, confirming a report by Bloomberg.

FCA said in its third-quarter report that the tax authorities had issued to the company a final audit report in October this year “which, if confirmed in the final audit assessment, could result in a material proposed tax adjustment related to the October 12, 2014 merger of Fiat SpA into FCA NV.”

It said the issuance of a final audit report starts a 60-day negotiation period, which ends with the issuance of a final audit assessment expected to be received by the end of December 2019.

“The company believes that its tax position with respect to the merger is fully supported by both the facts and applicable tax law and will vigorously defend its position,” it said in the third-quarter report.

A spokesman for Italy’s tax agency declined to comment.

“At this time, we cannot predict whether any settlement may be reached or if no settlement is reached, the outcome of any litigation. As such, we are unable to reliably evaluate the likelihood that a loss will be incurred or estimate a range of possible loss,” Fiat said.

News of the tax probe comes at a delicate time for Fiat Chrysler, which is finalizing talks with PSA, the maker of Peugeot and Citroen, over a planned $50 billion merger to create the world’s fourth-largest automaker.

(Reporting by Silvia Aloisi in Milan; Editing by Anil D’Silva)