Passenger Transportation Services


Passenger Transportation Services

Singapore Airlines' profit for the first half of the year slumps due to Air India losses and rising costs

Singapore Airlines announced a steep drop in its first-half profits on Thursday. The company was hit by losses suffered at Air India in India, increased costs, and intense competition across major markets. The flag carrier of the city-state reported a half-year profit of S$239 (US$184.67) million for the six-month period ended September 30. This compares to S$742 millions a year ago and Visible Alpha's consensus estimate at S$341.9. Despite a decline in net fuel prices, total expenditure increased by S$170 millions. The airline's expansion of capacity and inflationary pressures on several cost components contributed to the increase. Interest income for...







Asia

North America

Passenger Transportation Services

US Airlines reduces flight reductions for Friday despite FAA order of 6%

Cirium, an aviation analytics company, and airline officials report that U.S. carriers have cut fewer flights on Friday than required by the requirement to cut 6% domestic flights from the 40 busiest American Airports. Federal Aviation Administration announced late Wednesday that it would not increase cancellation requirements and freeze mandatory flight reductions at 6%. This was in line with what had been previously announced. Cirium reported that airlines cancelled just 1.4% of flights for Friday after cancelling 3.5% on Wednesday and Thursday. The FAA may revise or add to the order. United Airlines announced that it had cancelled 134 flights...

Passenger Transportation Services

Boeing ordered to pay $28 million more to the family of a 737 MAX crash victims

A federal court jury in Chicago on Wednesday ordered Boeing to pay over $28 million to a family of a United Nations environment worker who died in the crash of a 737 MAX in Ethiopia in 2019. The verdict given to the Garg family is the first of dozens of lawsuits that were filed following the crash in India and the one in Indonesia in 2018 which killed 346 people. According to the attorneys representing the family, a deal was reached between the parties on Wednesday morning. Garg's parents will receive 35.85 million dollars - the total verdict plus 26%...

Passenger Transportation Services

US court temporarily blocks USDOT's order to disband Delta and Aeromexico joint-venture

The U.S. Court of Appeals temporarily stopped an order issued by a government agency to Delta Air Lines, Aeromexico and other companies to dissolve a joint venture before January 1, 2019. The airlines sued the Transportation Department to stop the order to cancel the joint venture, which has been in place for nearly nine years and allows the carriers to coordinate flight schedules, pricing, and capacity between the U.S. USDOT issued the order in September as part of a series of U.S. actions against Mexican aviation, citing concerns about competition. Carriers said that they would be unable to recover substantial...

Passenger Transportation Services

US Senate holds hearing on impact of government shutdown on aviation safety

Next Wednesday, a U.S. Senate Subcommittee is holding a hearing on the impact the shutdown has had on aviation safety. This comes after disruptions to thousands of domestic flights affecting millions of passengers. The committee confirmed a report that the hearing will be held on November 19, and include testimony by Nick Daniels, President of the National Air Traffic Controllers Association, as well as Chris Sununu. Chris Sununu is the chief executive officer of Airlines for America. This trade group represents major airlines. Last week, the Federal Aviation Administration took an unprecedented step by requiring that flights be cut by...

Passenger Transportation Services

Delta sees strong current quarter despite flight disruptions

Delta Air Lines is expecting a solid fourth quarter, despite the flight disruptions due to the shutdown of the federal government, CEO Ed Bastian said on CNBC Wednesday. Bastian stated that, while disruptions to Delta's business would be costly for the airline industry and economy as a whole, they wouldn't "wipe" out its quarterly profits. His comments come after a recent wave of cancellations caused by the absence of air traffic controllers. Delta Airlines said that its operations recovered after the weekend disruptions caused by staffing issues with air traffic controllers and seasonal weather conditions in Atlanta, among other places....

Transport Infrastructure

US flight cancellations drop as absences of air traffic controllers shrink

U.S. flights cancellations dropped sharply in the past day, as the absence of air traffic controllers decreased just hours before Wednesday's vote by the House of Representatives to end the record-breaking government shutdown. The United States' airlines canceled almost 900 flights Wednesday, the lowest number in six days. This was in accordance with a Federal Aviation Administration directive that they cancel 6% flights at the busiest 40 airports in order to address safety concerns. According to some airlines, the FAA may reduce its planned 8% cut in flights on Thursday from 8% to 6%. The FAA reported that air traffic...

Passenger Ground & Sea Transportation

Waymo launches robotaxi freeway service in San Francisco, LA, Phoenix

Alphabet Waymo announced on Wednesday that it would begin offering robotaxi rides using freeways in San Francisco, Los Angeles and Phoenix as it expands amid competition within the self-driving sector. Waymo is expanding its operations in San Jose to include the Mineta San Jose International Airport. This airport will be the second in the service area, after Phoenix Sky Harbor. Zoox, backed by Amazon, offers free robotaxi rides around and on the Las Vegas Strip. Tesla is expanding its robotaxi service to include safety monitors and driver. Waymo, the company behind the robotaxi service that is offered in the U.S....

Passenger Transportation Services

Report shows that holiday travel demand is down across the board.

Even high-income travelers may not be as eager to travel this holiday season, according to a Deloitte report released on Wednesday. The report shows that Americans plan on taking fewer trips in the coming year and spending less money on them due to growing financial worries. Report: The number of holiday trips planned has decreased to an average of 1.83 from 2.14 last years, and the average budget for planned travel is down 18% at $2,334. The report stated that the tighter budgets are rooted in a more tempered money mood. Nearly one fifth of households with incomes over $100,000...

Transport Infrastructure

US Airlines cancel 1,200 flights on Tuesday due to the government shutdown

The government has been imposing mandatory flight reductions in response to safety concerns. This is the fifth day that the airlines have cancelled more than 1,000 flights. The Federal Aviation Administration (FAA) instructed airlines last week to reduce 4% of flights daily starting Friday, November 7 at 40 major airports due to staffing problems in air traffic control. The reductions in flights increased to 6% on February 2. On Thursday, the flight reductions would be 8% and on Friday, they will be 10%. The FAA and airlines are discussing when and how to reduce and eliminate the flight cuts as...

Passenger Transportation Services

Boeing maintains strong delivery pace throughout October

Boeing announced on Tuesday that the company delivered 53 jets during October, bringing their total deliveries for the year up to 493. They also received 15 new orders in November. The U.S. aircraft manufacturer delivered 39 of the best-selling 737 MAX jets. Nine were to Southwest Airlines, and five were to Ryanair Ireland's budget airline. One 737 NG was delivered to the U.S. Navy for conversion into a P-8 patrol plane. Boeing delivered 13 widebody aircraft: seven 787 Dreamliners and two 777 Freighters, as well as four 767s. The company is on course to deliver its highest number of deliveries...

Passenger Transportation Services

United Airlines wants to settle lawsuits over 'windowless seats'

United Airlines asked a federal court to dismiss a lawsuit that claimed it charged passengers unfairly extra money for "window seats", which, to their surprise, did not have windows. In August, passengers filed class action lawsuits against United Airlines and Delta Air Lines for finding that their seats in Boeing 737, Boeing 755, and Airbus A321 aircraft were windowless. They claim this was not flagged when they booked the tickets. United Airlines said in a filing Monday in San Francisco Federal Court that it never promised in contract that the seats at the window would offer views, even though it...

Transportation

When will US air travel return to normal? Not this week

Air travelers in the United States will still have to endure a few days of delays and cancellations before things return to normal. Federal Aviation Administration (FAA) has instructed airlines to reduce 4% of their daily flights at 40 major airports starting last week due to safety concerns regarding air traffic control. The Federal Aviation Administration has mandated that flight reductions reach 6% by Tuesday, and then 10% by Friday November 14. Transportation Secretary Sean Duffy warned that they could reach up to 15% or 20% if there is no end to the shutdown. If lawmakers restore federal funding this...

Europe

Passenger Transportation Services

German Coalition agrees on lower airline costs

Leaders of Germany's ruling coalition have agreed to lower costs for airlines, including tax reductions and more efficient security screenings. Why it's important Germany's aviation industry has complained for years that its high costs have put it at an unfair disadvantage to European competitors. CONTEXT Low-cost carriers such as Ryanair and EasyJet reduced capacity in Europe’s largest economy citing high costs. Although passenger numbers have increased in Europe and are now up 3% compared to the pre-pandemic level, they still fell 19% in Germany. This is where Lufthansa has its main hubs at Frankfurt and Munich. By the Numbers The...

Passenger Transportation Services

TUI Tours reports earnings above its own expectations

TUI, Europe's largest tour operator, announced on Wednesday that its earnings for its fiscal year 2025 exceeded its expectations due to strong hotel and cruise demand. In constant currency, the underlying earnings for the fiscal year that ended September 30 came to 1.46 billion euro ($1.70 billion). This was an increase of 12.6% over the previous year, exceeding the company's goal for a growth between 9% to 11%. In a press release, CEO Sebastian Ebel stated that "this success is primarily fueled by our integrated business models and record results within the Hotels & Resorts and Cruises segment." At 1443...

Passenger Ground & Sea Transportation

Alstom receives $1.9 billion order from PKP intercity in Poland

Alstom, a French train manufacturer, announced on Wednesday that it had signed a contract worth 6.9 billion zlotys ($1.9 billion), to supply and maintain trains for Poland’s national long distance rail operator PKP. Alstom shares rose by more than 3% early in the afternoon following publication. The agreement includes the delivery and maintenance of 42 Coradia Max electric double-deck multiple units. This train is capable of reaching speeds of up to 200 km/h. It also includes 30 years of full service maintenance, as well as an option to purchase 30 more trains. In a press release, PKP Intercity CEO Janusz...

Western Europe

East Asia

Passenger Transportation Services

Lyft's revenue growth is slower than expected, which clouds the positive booking forecast

Lyft's third-quarter revenue growth was a little below Wall Street expectations, despite intense competition in the company's core North American markets. This overshadowed a positive booking forecast for holiday travel. The shares of the San Francisco based company dropped about 3% during extended trading. A saturating market in major metropolitan areas has allowed the company to benefit from its recent push in international markets. Freenow's European operations have been positioned as premium services, complementing the mass-market presence of North America. The company stated that "our strategic acquisition of Freenow will bring over six million riders annually to our platform by...

Transport Infrastructure

Taiwan: China ignores requests for information about new airport safety concerns

Taiwan's Civil Aviation Administration stated on Wednesday that China had not provided any information regarding a new airport that will open in the next year, less than 10 kilometers (6 miles) away from a Taiwanese Airport. This raises flight safety concerns. Xiamen's Xiang'an Airport is located only 3 km away from Taiwan's Kinmen Islands, the site of the Cold War's on-off battles. Construction work can also be heard and seen from Taiwan. Taiwan's Civil Aviation Administration sent a statement to saying that close airports need to be planned and coordinated in advance to ensure safety and smooth operation. It said...

Passenger Transportation Services

Sheinbaum, the Mexican president, disagrees with US decision to cancel 13 Mexican airline routes

The Mexican president Claudia Sheinbaum stated on Wednesday that she does not agree with the U.S.'s decision to revoke the approval of 13 Mexican airlines routes to the United States, and to cancel combined passenger and freight flights from Mexico City’s Felipe Angeles International Airport. Sheinbaum said that in her daily press briefing, she will request a discussion between the Mexican foreign minister and U.S. Secretary State to examine the reasons for the unilateral action. She also added that she is confident an agreement can be reached. Sean Duffy, Transportation Secretary, said on Tuesday that Mexico had "illegally cancelled and...

Passenger Transportation Services

Tokyo Gas and Glenfarne Sign Letter of Intent for 1 MTPA LNG Offtake from Alaska LNG

Energy developer Glenfarne announced on Friday that it had signed a letter of intent (LOI) for the purchase of 1,000,000 metric tons of liquefied gas per annum from Alaska LNG Project. Tokyo Gas confirmed it had signed the LOI. It said that as a strategic Glenfarne partner, it allows the Japanese LNG buyer to progress meaningful negotiations about the purchase of LNG. This is a significant step forward for the $44 billion Alaskan LNG project, which has been criticized due to its high cost. Glenfarne aims to make a final investment decisions (FIDs) on the Alaska LNG pipeline by the...

Passenger Transportation Services

Taiwan and its offshore Islands near the Chinese Coast

Taiwan closely monitors whether China will include Taiwan-controlled Kinmen Islands in a five-year plan being discussed this week in Beijing. Taiwan's offshore Islands: Facts and figures When the defeated Republic of China fled to Taiwan after losing a Civil War to Mao Zedong’s communists in 1949, it retained control of a number of islands and islets on China’s southern and eastern coasts. The majority were captured by Chinese forces later or were evacuated by Taiwan because they were difficult to defend. Taiwan is only geographically a part of the Kinmen Islands and Matsu Islands, which are located just off the...

Passenger Transportation Services

Sources say that Vietjet, Vietnam's budget airline, has stopped operating COMAC aircraft made in China.

Two sources familiar with this matter have confirmed that Vietjet, a Vietnamese low-cost airline, stopped operating its two COMAC C909 planes made in China on October 18, after the six-month contract to lease the planes had expired. The C909s arrived in Vietnam less that a week after Chinese president Xi Jinping's visit to Hanoi, in April. This launch was seen as a sign of the deepening of strategic and economic ties. The two sources confirmed that Vietjet had decided not to renew the lease, and did not have any immediate plans to buy aircraft from China’s state-owned planemaker COMAC. Vietjet...

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New York Times Business News - October 20, 2018

These are the most popular stories from the New York Times' business pages. These stories have not been verified and we cannot vouch for the accuracy of these reports. The Colombian president Gustavo Petro has accused the United States (US) of killing an innocent fisherman during an attack on a boat the US authorities claim was carrying illegal drugs. This led President Donald Trump on Sunday to announce that he will cut off all assistance to Colombia, and impose new duties on its goods. China's National Bureau of Statistics announced on Monday that the economy grew by 1.1% in the...

Passenger Transportation Services

China Eastern Airlines resumes flights as China and India restore air connections

China Eastern Airlines, a state-owned airline, will resume Shanghai to Delhi flights on November 9, according to the website of the airline. This comes as China and India resume their direct air links after a five year diplomatic freeze. According to the airline's ticketing platform, flights will be operated three times per week, on Wednesdays. Saturdays and Sundays. China Eastern Airlines didn't immediately respond to a request for comment sent via email. The Indian Foreign Ministry announced earlier this month the resumption of commercial flights between India and its neighbours after a 5-year-long freeze. The announcement came after Indian Prime...

Passenger Transportation Services

Sources say that China has allowed more biofuel companies to export green aviation fuel.

According to Chinese consultants and trade sources, China has granted quotas to three more biofuel refiners for the export of sustainable aviation fuel. This could lead to an increase in exports to Europe. China's biofuel companies are building SAF plants in Europe, which is the second largest aviation fuel market. They also target the continent as their top export destination. The Chinese Ministry of Commerce is responsible for the quota system. It did not respond immediately to a comment request. According to a report by the Chinese commodities consultancy JLC, three sources in industry and commerce, as well as Shandong...

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As the US invests in critical minerals, Washington lobbyists are boosted by these firms.

A review of public documents and interviews with executives revealed that critical mineral companies have increased their lobbying efforts to Washington in order to benefit from the ambitious investments made by U.S. president Donald Trump to firms considered essential to national safety. The review revealed that at least 12 companies, including those in the lithium, copper and rare earths industries, as well as geothermal, have signed agreements with Washington lobbying firms. Influence campaigns have increased dramatically in recent years to secure federal investment, permit support and long-term guarantees for procurement. The White House is shifting its focus from the historical...

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Australia's Treasury Wine Chair grilled by shareholders, but comfortably reelected

Treasury Wine Estates shareholders grilled chairman John Mullen about the Australian winemaker’s poor performance, his stock decline as well as heavy workload. But he was reelected with a large margin at their annual general meeting held on Thursday. Treasury, one of the top five winemakers in the world by volume, pulled its earnings guidance for 2026, and halted plans for a stock buyback. The company cited weak sales of Penfolds' flagship wines in China, and distribution problems in the U.S. Since the beginning of the year, the stock price has fallen by more than 40%. Institutional Shareholder Services, Australian Shareholders'...

Transportation

New York Times Business News - October 8, 2018

These are the most popular stories from the New York Times' business pages. These stories have not been verified and we cannot vouch for the accuracy of these reports. Tesla unveiled on Tuesday new versions of two of its most popular models: Model Y, and Model 3. These will be sold for $40,000 each and $37,000 separately. A Los Angeles jury on Monday ordered Johnson & Johnson to pay $966 Million to the family a California woman, who died of a rare cancer. The company had been found liable after a lawsuit claiming that its baby powder products caused cancer....