Tag: Until

EasyJet Founder Says Will Not Inject Fresh Equity Into Company

April 6, 2020 / WIL BALDWIN

FILE PHOTO: Easyjet founder Stelios Haji-Ioannou speaks at a media event to celebrate 20 years in business at Luton Airport

(Reuters) – Stelios Haji-Ioannou, the founder of easyJet Plc <EZJ.L>, has warned that he will not inject any fresh equity into the airline until it terminates a contract with Airbus SE <AIR.PA> for 4.5 billion pounds ($5.50 billion), according to a letter https://easy.com/wp/wp-content/uploads/2020-04-05-stelios-media-statement-on-easyjet-and-airbus-for-release-6april20-final.pdf posted on EasyGroup’s website.

In his letter, Haji-Ioannou has also called for removal of easyJet’s Chief Finaicial Officer Andrew Findlay, after earlier calling for a board meeting on a vote to remove Andreas Bierwirth as a director, which was rejected by easyJet.

“If this 4.5 billion pound liability to Airbus is preserved – and not cancelled – by the easyJet board then, I regret to report, easyJet will run out of money around August 2020, perhaps even earlier,” the founder said in his letter.

“I will certainly not be throwing good money after bad. For the avoidance of doubt, I will not inject any fresh equity in easyJet whilst the Airbus liability is in place.”

He also stated that he will continue to call for the removal of more directors every time the company delays the vote.

He also wants easyJet to reduce its fleet size to 250 aircraft from 350, adding that the airline will not need any more additional new planes for many years to come.

(Reporting by Juby Babu in Bengaluru; editing by Diane Craft)

Boeing Extends Suspension of Puget Sound Production Ops

April 6, 2020 / WIL BALDWIN

Boeing is extending the temporary suspension of production operations at all Puget Sound area and Moses Lake sites until further notice. These actions are being taken in light of the company’s continuing focus on the health and safety of employees, current assessment of the spread of COVID-19 in Washington state, the reliability of the supply chain and additional recommendations from government health authorities.

During the suspension, the company will continue to implement additional health and safety measures at its facilities to protect employees. These measures include new visual cues to encourage physical distancing, more frequent and thorough cleaning of work and common areas and staggering shift times to reduce the flow of employees arriving and departing work, among many other improvements.

“The health and safety of our employees, their families and our communities is our shared priority,” said Boeing Commercial Airplanes President and CEO Stan Deal. “We will take this time to continue to listen to our incredible team and assess applicable government direction, the spread of the coronavirus in the community and the reliability of our suppliers to ensure we are ready for a safe and orderly return to operations.”

The volunteers who have been supporting essential site and services work should continue to report to their assigned shifts. Puget Sound area and Moses Lake employees who can work from home should continue to do so.

As the suspension of operations continues, Boeing will monitor government guidance and actions on COVID-19 and associated impact on all company operations. Boeing sites that remain open are being monitored and assessed on a daily basis.

Volkswagen Extends Mexico Coronavirus Production Halt

April 2, 2020 / WIL BALDWIN

An employee leaves the Volkswagen (VW) plant as the company will temporarily close its factories in Mexico amid growing worries over the spread of the coronavirus disease (COVID-19), in Puebla

MEXICO CITY (Reuters) – German automaker Volkswagen said on Wednesday it would extend until April 30 a suspension of activities at two production plants in central Mexico after the government declared a health emergency because of coronavirus.

Volkswagen <VOW.DE> is among manufacturers worldwide who are responding to a fall in demand, as well as supply chain challenges following measures taken to rein in the pandemic.

In a statement the company said the halt was extended from April 12 to comply with government orders for a suspension of all non-essential activities.

Volkswagen said it would continue to pay employees during the suspension. Mexico reported 37 deaths, up from 29 a day earlier, and 1,378 infections, up from 1,215, because of the virus.

(Reporting by Sharay Angulo; Writing by Stefanie Eschenbacher; Editing by Clarence Fernandez)

Ryanair Suspends All Italian Flights Until Wednesday April 8

March 10, 2020 / WIL BALDWIN

– Government extends restrictions to all of Italy

Ryanair today (Tues 10 Mar) announced the suspension of its full flight schedule to/from and within Italy, following the decision of the Italian Government to “lock down” the entire country to contain the spread of the Covid-19 virus.

These additional cuts will be implemented as follows:

From 24:00hrs Weds 11 Mar until 24:00hrs Wed 8 Apr, Ryanair will suspend all Italian domestic flights.
From 24:00hrs Fri 13 Mar until 24:00hrs Wed 8 Apr, Ryanair will suspend all Italian international flights.

All affected passengers have received email notices today informing them of these flight cancellations. Passengers looking for repatriation can obtain a free move to an earlier Ryanair flight operating up until midnight Fri 13 Mar. Affected passengers will be able to choose between a full refund or a travel credit that can be redeemed on Ryanair flights in the next 12 months.

Ryanair continues to comply fully with WHO and national Government guidance and travel bans. The situation is changing on a daily basis, and all passengers on flights affected by travel bans or cancellations, are receiving emails and are being offered flight transfers, full refunds or travel credits.

Ryanair apologises sincerely to all customers for these schedule disruptions, which are caused by national Government restrictions and the latest decision of the Italian Government to lock down the entire country to combat the Covid-19 virus.

EasyJet Founder Says Will Not Inject Fresh Equity Into Company

Boeing Extends Suspension of Puget Sound Production Ops

Volkswagen Extends Mexico Coronavirus Production Halt

Ryanair Suspends All Italian Flights Until Wednesday April 8

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