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Passenger Transportation Services
Finnair shares rise as travel boom boosts profits
Finnair, the Finnish airline, reported an unexpected increase in its 'fourth quarter' profit on Wednesday. It also forecast higher earnings for this year due to stronger travel demand. The company's shares rose more than 10%. Finnair's?poll? of analysts predicted that the comparable operating profit would be 43.3 million. Instead, it was 61.7 million euros. The company attributed the increase to a stronger demand in Asia and Europe as well as lower fuel costs and a slight increase in passenger numbers. CAPACITY INCREASE Finnair said in a press release that the demand for air travel in its key markets is expected
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Passenger Transportation Services
AirAsia X unveils Kuala Lumpur-Bahrain-London route, establishing Middle Eastern hub
AirAsia X, Malaysia's budget airline, announced a new route on Wednesday that connects Kuala Lumpur with?Bahrain before continuing to London's Gatwick 'airport'. This is the latest step of the airline's global expansion. In a press release, the company stated that the service would begin in June and will be Bahrain AirAsia X’s first hub outside Asia. It will use its location to link Southeast Asia, Middle East, and Europe. Last month, Asia's largest low cost carrier completed the acquisition of the short-haul business from parent Capital A. This unifies the group's 7 airlines under one banner. The return of non-stop
Passenger Transportation Services
Passenger Transportation Services
Strikes will cause major disruptions to flights on Thursday at Lufthansa
There will be major flight disruptions on Thursday for the core German airline of Lufthansa, its freight arm and its short-haul carrier CityLine. This is because two separate unions have called for pilots' and cabin crew's strikes. The German pilots union VC (Vereinigung Cockpit), on Tuesday, called a 24-hour walkout on the 12th of February at Lufthansa's main German carrier and Lufthansa cargo in a dispute?over pensions. In a ballot held at the end of September last year, union members announced their willingness to strike to pressurize Lufthansa to grant more generous retirement benefits. The talks have resumed, but they...
Passenger Transportation Services
Boeing starts the year with a busy January of deliveries and orders
Boeing?said?on Tuesday it delivered 46 jets, the third-highest number in company history for that month, including 38 of the best-selling 737 MAX and five 787 Dreamliners. The total deliveries for December were?63, a drop from the?63 delivered in January. This is usually the busiest delivery month. Boeing beat Airbus in Europe, which delivered only 19 aircrafts last month. This included 15 of its A320neo jets, 3 A220s, and 1 A350. Wall Street is closely watching the delivery of jets to customers because they receive most of their payments when they do. Boeing had 107 net new orders for January and...
Passenger Transportation Services
Ryanair signs deal with CFM Engines for major parts
Ryanair, the European budget airline and jet engine manufacturer?CFM International announced a deal Tuesday that will support the Irish carrier in its plans to open up two engine maintenance shops. The agreement includes a steady supply of spare parts to ensure the availability of these parts for the next fifteen years. Ryanair CEO Michael O'Leary said at a press conference that the plants would likely be located in continental Europe, and that the first plant could open as soon as 2028. This will allow Ryanair to buy parts ahead of time, during a period when there are shortages across industries....
Passenger Transportation Services
Kenyan airport workers may strike next month
A letter from their union indicated that Kenyan aviation workers may strike next week and disrupt operations at airports throughout the country. The Kenya Aviation Workers Union notified in a letter dated 'February 9th that it would be formally stating "that all unionisable Kenya Civil Aviation Authority employees (KCAA) will go on strike if the seven-day period expires". Nairobi's Jomo Kenyatta International Airport, one of Africa's main air transport hubs, is located in Nairobi. The number of workers who would participate in the strike was not immediately known. The aviation authority stated that it would issue a statement at a...
Passenger Transportation Services
TUI's bookings for future trips fall, but last-minute travel boosts the European travel giant.
TUI, Europe’s largest travel operator based on market share, reported an operating profit that was above expectations. Analysts warned about softer demand, but noted a trend toward last-minute bookings, and higher prices. While the company struggled to maintain its position in its core German markets, it has been able to improve its results by making its offering more international and focusing more on its more profitable businesses including hotels. The company's share price is still well below the levels of three years ago, but Chief Executive Sebastian Ebel has repeatedly stated that he hopes to see an improvement. At 0830...
Passenger Transportation Services
Anarchists blame rail sabotage at the Olympics in Italy
Anarchists claimed Monday responsibility for the disruption of train traffic and the destruction of rail infrastructure on Saturday in northern Italy, on the first day of Winter Olympic Games. Three separate incidents were reported by the police at different locations on Saturday morning, causing delays of up 2-1/2 hours in high-speed services and regional trains. This was particularly true around Bologna. There were no injuries and no damage to the trains. Anarchists said in a statement that the progressive crackdown by Prime Minister Giorgia?Meloni on protests had rendered confrontations on the street "ineffective", and they were forced to find alternative...
Passenger Transportation Services
Air Europa will resume limited flights in Venezuela from February
Spanish carrier Air Europa said that it will resume flights to Caracas from Madrid in this month. The service was suspended last November due to rising tensions between the United States and Venezuela. The airline has scheduled flights between Madrid and Caracas for the 17th, 20th and 22nd of February but has not said when it will resume its regular five-weekly flights. Air Europa was among a list of airlines who halted flights?towards and from Venezuela, after the U.S. Federal Aviation Administration issued a warning of a "potentially dangerous situation" while flying over 'the country. This warning came long before...
Passenger Transportation Services
Kremlin warns that the fuel situation on Cuba is critical and accuses US officials of suffocating the island
The Kremlin stated on Monday that Cuba's fuel situation is critical. Cuba has?unveiled a plan that will protect essential services and?ration fuel. Cuba outlined its plans for navigating the crisis on Friday, as the communist government dug its heels to defy a U.S. attempt to cut off the?oil supplies to the Caribbean Island after declaring Cuba an "unusual and?extraordinary" threat to U.S. security. "The situation in Cuba has indeed become critical." We are aware of it. Dmitry Peskov, Kremlin spokesperson, told reporters that the Kremlin maintains intensive contact with its Cuban friends via diplomatic channels and other means. Russia is...
Passenger Transportation Services
WSJ reports that Kroger will name former Walmart executive Greg Foran as its next CEO
The Wall Street Journal, citing sources familiar with the situation, reported that Kroger is planning to hire Greg Foran as its new CEO. The U.S. grocery giant has been looking for a permanent chief executive officer after Rodney McMullen was ousted last year following a board inquiry that determined that his personal conduct was "inconsistent with certain company policies." The WSJ reported that Kroger will announce the choice by Monday. The report could not be immediately verified. Kroger didn't immediately respond to a?request for comment. Foran, a New Zealander born in Foran, was CEO of Air New Zealand between February...
Passenger Transportation Services
Talgo, a Spanish company, has been contracted by Saudi Arabia to build 20 high-speed trains.
The company, along with Spain's transport minister, announced on Sunday that Saudi Arabia had ordered 20 high-speed trains. Talgo announced in a?statement that the deal added 1.33 billion euro ($1.57 billion), bringing its backlog to nearly?6billion euros, which is a record. The contract also covers maintenance of the trains. The agreement will 'boost the reputation of Spanish rail, which suffered a heavy blow after a fatal train crash near Cordoba in last month. The accident raised concerns about whether the investment in maintaining the network keeps pace with a soaring passenger demand. In a X.com post, Transport Minister Oscar Puente...
Passenger Transportation Services
El Al fined $39 Million by Israeli antitrust for price gouging in war
Israel's Competition Authority announced on Sunday that it would levy a fine on El Al Israel Airlines of 121 million shekels (about $39 mln) for setting unfair and excessive airfares during Israel’s Gaza War. The maximum fine allowed by law is the fine. The antitrust agency said that it had reviewed the period between October 7, 2023 and May 20, 2024, and found El Al to be a monopoly operator on 38 of its 53 routes, including New York, London and Paris as well as Bangkok and other destinations in the United States and Europe. The report found that the...
Passenger Transportation Services
Meloni and IOC condemn clashes after protests in Olympic host Milan
Giorgia Melons, the Italian prime minister, called anti-Olympics demonstrators "enemies" of Italy after violence on the fringes a protest in Milan Saturday night and sabotage of the national rail system. The International Olympic Committee (IOC)?also??joined the criticism by saying that violence has no place in the Games. The incidents occurred on the first day of competition at the Winter Games, which Milan, Italy's capital of finance, and the Alpine town Cortina D'Ampezzo are hosting. Meloni thanked the thousands of Italians working to ensure the Games ran smoothly and presented a positive image of Italy. "There are also those who are...
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...