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Europe
Poste Italiane acquires Telecom Italia for 66.6% at the end of the offer period
Poste Italiane secured a 66.6% share in Telecom Italia (TIM)'s capital. Calculations based on stock exchange data were revealed on Friday at the conclusion of the main phase for the takeover bid by the state-backed company. Poste, who had previously acquired a 20% stake in TIM, increased its cash component by 18%, to EUR1.97 a share. It also confirmed an exchange ratio of 0.218 newly -issued Poste?shares for each TIM share. At Friday's closing price, the bid was valued at around EUR13 billion. Borsa Italiana (the Italian stock exchange) reported that the take-up of the bid for the former Italian
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LNG Transportation
QatarEnergy is seeking US LNG deals until 2031, according to sources
QatarEnergy has been in talks with several producers about securing multi-year U.S. contracts for liquefied natural gas through 2031. This is to replace the capacity that was destroyed by Iranian attacks, which will take years to fix. Two sources confirmed that discussions are underway with Venture?Global and Woodside. Sources said that the contract talks were part of QatarEnergy's effort to replace volumes lost from its Ras-Laffan facility, after Iranian strikes damaged two of its 14 gas-to liquids (GTL), and two LNG trains. QatarEnergy has also changed its approach from purchasing dozens of U.S. LNG spot cargoes in order to meet
Passenger Transportation Services
Passenger Transportation Services
Sydney Airport flight disruptions due to a shortage of air traffic controllers
The federal agency in charge of managing Australia's aviation traffic reported that a shortage of air traffic controllers led to flight cancellations and major delays on Friday morning at Sydney Airport. Airservices Australia has announced that it has implemented measures to manage the flow of air traffic "to safely manage aviation demands" due to a staffing shortage. This led to 14 inbound cancellations and delays exceeding an hour. Airservices Australia is struggling with staff shortages and the disruption comes after several near-misses that have occurred at the airport. "Last evening, on relatively short notice, there was some unplanned absenceeeism that...
Passenger Transportation Services
Vietnam Airlines orders five Airbus A350-900s on a provisional basis from Airbus
Vietnam Airlines has confirmed earlier reports that it had signed a Memorandum of Understanding with Airbus for the purchase of five A350-900 aircraft. Vietnam Airlines said that the aircraft are due to be delivered in 2033 or 2034. The deal's value was not disclosed. Vietnam Airlines' fleet development plan identifies the strategic priority of acquiring 30 widebody aircraft after 2030. This agreement was one of several agreements signed between Vietnam, France and To Lam during To Lam's visit to Paris at the International Space Summit. In a statement, Airbus Executive Vice President of Sales for Commercial?Aircraft Benoit de Saint-Exupery said:...
Passenger Transportation Services
Sydney Airport flight disruptions due to a shortage of air traffic controllers
The 'federal agency in charge of managing Australia's aviation traffic, said that a shortage of air traffic control staff caused delays and flight cancellations at Sydney Airport Friday morning. Investigations are continuing into recent near misses. Airservices Australia?said if it was required to enact Air Traffic Flow Management measures at Sydney Airport due to "role constraints" and to "safely manage aviation demand." ATFM measures were lifted by 8:15 am (2215 GMT Thursday), after the conditions had improved. However, delays of up to 10 minutes could still be expected for the remainder of the morning. Airservices acknowledged that the ATFM measures...
Transportation
US FAA chief meets with airline CEOs on plan to reduce flight delays
The head of the Federal Aviation Administration (FAA) met with the CEOs of U.S. passenger airline companies on Thursday to discuss the FAA's plans to use advanced software for a re-organization of flight schedules to improve 'flight management. FAA Administrator Bryan Bedford has met with top executives of American Airlines, United Airlines Delta Air Lines Southwest Airlines and other airlines to discuss the plan for the agency to start rolling out the SMART system this month. Bedford told reporters at the end of August that "it's going be transformational." We'll be able to make better decisions if we have more...
Passenger Transportation Services
JetBlue reduces capacity forecast due to weather disruptions and rising fuel prices
JetBlue Airways lowered its capacity growth forecast on Thursday due to higher fuel costs and weather-related disruptions. However, the carrier said that bookings continued to be healthy in September, both during peak and off-peak times. Fuel prices have risen due to the U.S. and Israeli war against Iran, forcing airlines worldwide to raise ticket prices and reduce capacity. JetBlue has been struggling since its proposed tie-up deal with Spirit Airlines, now bankrupt, fell through. JetBlue says weather and air traffic control related disruptions, especially in the Northeastern U.S. in July and august, led to an increase in cancellations, and pushed...
Passenger Transportation Services
JetBlue increases its third-quarter fuel forecast
JetBlue Airways is expecting to pay more for fuel during the third quarter, as the 'Iran War' keeps prices high and demand strong. The carrier announced on Thursday that it expected to pay $3.96 for a gallon of fuel during the third quarter. This is up from its previous forecast of $3.49. In premarket trading, its?shares fell by about 1%. U.S. and Israeli war against Iran has pushed fuel prices up, increasing?costs to airlines around the world. JetBlue said on Thursday that weather and air traffic disruptions, especially in the Northeastern U.S. in July and August have led to an...
Passenger Transportation Services
Ryanair CEO: Winter fares could rise after a slight increase
Michael O'Leary, Chief Executive Officer of Ryanair, boosted the airline's forecast for average fares on Thursday. He said they could?rise?slightly?this winter, following a'mild increase' since July. However, this outlook was heavily dependent on oil prices. As oil prices rose, the airline's costs increased. The result was a drop in profit in its last quarter. O'Leary, on Thursday, said that since then, fares have risen "by a very low single digit" percentage year-over-year. O'Leary said at a press conference that there had been a "slight upturn" in the last month. He said it was impossible to determine what caused the increase...
Passenger Transportation Services
Dealmaking in the aerospace sector accelerates as jet production increases
According to data from the industry and interviews with decision makers and suppliers, mergers and acquisitions in the aerospace industry are increasing as buyers gain more confidence in long-term demands due to clearer Boeing and Airbus schedules. Through August, the aerospace and defense investment bank Janes Capital Partners, which focuses on commercial aerospace, tracked 154 publicly-disclosed commercial aerospace transactions in this year. This is just a few short of the record of 159 that was set in 2019. Buyers target suppliers who have specialized manufacturing abilities, scarce workers and the capacity to meet an increasing jet production. The major manufacturers...
Passenger Transportation Services
NTSB: Pilot in Miami cargo accident pressed forward with landing despite NTSB warnings
The National Transportation Safety Board reported that the pilot of an Amazon Prime Air cargo aircraft that crashed in Miami on Sunday warned they were flying 'too fast' just over a moment before touching down on the 'runway overran by the plane. The pilot continued to make comments about the plane's speed as automated warnings were sounded. The other pilot, however, did not provide a clear response verbally, according to a cockpit voice recording that was detailed in a Wednesday investigative update. However, it did not identify who the speakers were as either the captain or the first officer. The...
Passenger Transportation Services
Ariane, Europe's space rocket, wins Amazon Space Gathering boost
Arianespace, the operator of Europe's flagship rocket programme, announced on Wednesday that Amazon 'Leo' has ordered six more launches using Europe's 'Ariane 6' launcher. Amazon has now ordered 24 Ariane launches by 2031, following the announcement made at a space conference in Paris. ArianeGroup's commercial arm announced that new flights on the Ariane 64 high-capacity version will start in 2029. Emmanuel Macron, French President, praised the deal during the opening of a 2-day space summit that was boycotted by a number of?top U.S. companies, including Blue Origin, owned by Amazon founder Jeff Bezos. This followed what sources described last week...
Passenger Transportation Services
Delta is urged to be neutral in the unionization effort by Democratic Senators
Two?Democratic Senators on Wednesday urged Delta Air Lines' CEO Ed Bastian to stay neutral in the ongoing attempts by some airline.flight attendants unionize. In a letter seen by the?Senators, Elizabeth Warren and Ed Markey, they said that flight attendants at the Atlanta-based carrier have been trying for years to organize. They argued that management's attitude is "threatening future pay and benefits to flight attendants if they decide to organize", and called it inappropriate. Delta welcomed discussions with senators. Delta fully supports our employees' rights to decide if union representation is the right choice for them, and maintains a strict non-interference...
Passenger Transportation Services
Dutch public transport stopped by strike over welfare cuts
A nationwide strike on Wednesday against the government's proposal to cut welfare spending halted public transport in The Netherlands. A 24-hour strike affected train services in the entire country, including international trains to Belgium, Germany France and Britain. The strike was organised by the unions against plans to reduce welfare spending up to EUR6.5billion ($7.6billion) annually, mainly through limiting unemployment benefits. The strike is a further obstacle to the centre-right minorities government that was installed in this year's parliament. The coalition is in need of outside support, as it lacks a majority. The opposition's leading left-wing Pro Party has joined...
Ground Transportation
Amtrak, the US passenger rail company, sets a record for ridership and cuts losses
Amtrak, the U.S. passenger rail company, said Tuesday that it had set records for revenue and ridership in a single year. It also cut its losses by 15 percent to $598 millions and is aiming for profitability by 2028. Amtrak is a major effort in rehabilitating the infrastructure of the Northeast corridor between Boston, Massachusetts and Washington. It is expanding service throughout the United States by purchasing new Acela trains with higher speeds and replacing regional trains from next year. Amtrak reported that in the twelve months ending September 30, it had 34,5 million trips made by customers, an increase...
Whaleboat sinks into river in Congo, killing at least 107 people
According to a government internal report viewed by us on Friday, at least 107 people died when a whaleboat caught blaze in the west of Democratic Republic of Congo. In a memo, the Ministry of Social Affairs stated that 146 people were missing after the boat, which was a narrow double-ended open vessel, caught fire near Malange Village in Lukolela Territory on Thursday night. The note stated that rescue teams recovered 209 survivors after the vessel burnt and drifted downriver. The fire destroyed the cargo and 15 riverside houses. The search operations continued Friday, with community volunteers and naval personnel...
As inventories shrink, premiums for copper contracts on the nearby LME soar.
The premiums for copper contracts near London Metal Exchange have increased to their highest level since October 2022 due to low inventories, large cash contracts and warrants held by traders. The title document that confers ownership on metal is a warrant. Tom-next, also known as the premium or backwardation that is charged for purchasing copper tomorrow and then selling it the next day, is currently trading at above The price of a metric tonne is $48. This compares to a $2 discount at the beginning of the week. The premium for the cash Copper Contract over the Three-Month Forward It...