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Boeing files registration statement for securities, stock sale of up to $25 bln
Boeing filed a registration declaration with the U.S. markets regulator on Tuesday that will allow the planemaker to raise as much as $25 billion through an offering of various debt securities and classes of stock. It was not clear when and just how much Boeing will raise by means of the offering, however analysts and investors expect the company to raise cash before the year end amidst looming financial obligation maturities. Previously on Tuesday, Boeing also went into a credit arrangement worth $10 billion with a consortium of banks. The company had cash and cash equivalents of $10.89 billion since June 30. Last month, Chief Financial Officer Brian West stated at a. Morgan Stanley conference that the business was continuously. evaluating our capital structure and liquidity levels to guarantee. that we could satisfy our financial obligation maturities over the next 18. months while keeping self-confidence in our credit rating as. investment grade. Boeing has $11.5 billion of debt developing through Feb. 1,. 2026, and has actually committed to releasing $4.7 billion of its shares to. obtain Spirit AeroSystems and presume its financial obligation. Reuters reported previously this month Boeing was taking a look at. alternatives to raise billions of dollars through a sale of stock and. equity-like securities. Boeing delivered 33 jets in September, down from 40 in. August.
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Boeing goes into $10 bln credit contract with banks amid crippling strike
Boeing said on Tuesday it has went into a credit contract worth $10 billion with a consortium of banks, as the U.S. planemaker readies financing sources amidst a debilitating strike and upcoming debt maturities. The business's shares increased 2% before the bell. The latest development signals the planemaker is diversifying its funding options as it has $11.5 billion of financial obligation maturing through Feb. 1, 2026. Earlier this year, Boeing devoted to issuing $4.7 billion of its shares to get Spirit AeroSystems and presume its debt. Boeing's money woes have aggravated since approximately 33,000 of its employees represented by the Machinists union strolled off their jobs in September, stopping production of its very popular 737 MAX airplane. The strike is costing the business more than $1 billion per month, according to one quote that was launched before Boeing announced it will cut 17,000 jobs or 10% of its global workforce. The planemaker was already reeling due to a. regulator-imposed cap on production of its MAX jets after a. mid-air cabin-panel blowout in January. Boeing has actually posted operating cash flow losses of more than $7. billion for the very first half of 2024 and had about $60 billion in. financial obligation, including the $10 billion it raised earlier this year. The advancements come at a time when Boeing is also looking. to preserve its investment-grade credit ranking amidst the looming. threat of a downgrade into junk territory, which will be the. first for the planemaker.
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Airlines suspend flights as Middle East stress rise
Concerns over a larger dispute in the Middle East have prompted international airlines to suspend flights to the region or to avoid affected air area. Below are a few of the airlines that have changed services to and from the area: AEGEAN AIRLINES The Greek airline company cancelled flights to and from Beirut up until Nov. 6 and to and from Tel Aviv till Nov. 5. AIRBALTIC. Latvia's airBaltic cancelled flights to and from Tel Aviv up until. Oct. 31. AIR ALGERIE. The Algerian airline company suspended flights to and from Lebanon till. further discover. AIR EUROPA. The Spanish airline company cancelled flights to Tel Aviv until Oct. 20. AIR FRANCE-KLM. Air France extended its suspension of Paris-Tel Aviv flights. till Oct. 22 and Paris-Beirut flights until Oct. 26. KLM extended the suspension of flights to Tel Aviv until the end. of this year a minimum of. The Franco-Dutch group's low-cost unit Transavia cancelled. flights to and from Tel Aviv, Amman and Beirut up until end-March. AIR INDIA. The Indian flag carrier suspended flights to and from Tel Aviv. up until more notice. BULGARIA AIR. The Bulgarian provider cancelled flights to and from Israel up until. Oct. 31. CATHAY PACIFIC. Hong Kong-based Cathay Pacific cancelled flights to Tel Aviv. until Oct. 25, 2025. DELTA AIR LINES. The U.S. provider paused flights between New york city and Tel Aviv. through Dec. 31. EASYJET. The UK spending plan airline stopped flying to and from Tel Aviv in. April and will resume flights on March 30. EGYPTAIR. The Egyptian carrier on Sept. 24 suspended flights to Beirut. up until the circumstance stabilises. EMIRATES. UAE's state-owned airline company cancelled flights to Beirut through. Oct. 31 and flights to Baghdad and Tehran till Oct. 23. Basra. flights are set to resume from Oct. 17. ETHIOPIAN AIRLINES. The Ethiopian carrier suspended flights to Beirut until even more. notice, it stated in a Facebook post on Oct. 4. FLYDUBAI. The Emirati airline suspended Dubai-Beirut flights up until Oct. 31, a flydubai spokesperson stated. IAG. IAG-owned British Airways cancelled flights to and from Tel Aviv. through Oct. 26. IAG's inexpensive airline Iberia Express cancelled flights to. Tel Aviv up until Oct. 31, while Vueling cancelled operations to. Tel Aviv until Jan. 12 and to Amman until additional notice. IRAN AIR. The Iranian airline cancelled Beirut flights till additional. notice. IRAQI AIRWAYS. The Iraqi national provider suspended flights to Beirut until. further notice. ITA AIRWAYS. Italy's ITA Airways extended the suspension of Tel Aviv flights. through Oct. 31. LOT. The Polish flag carrier cancelled flights to Tel Aviv till Oct. 26, while its first arranged flight to Beirut is planned for. April 1. LUFTHANSA GROUP. The German airline company group suspended flights to Tel Aviv until. Oct. 31, to Tehran until Oct. 26 and to Beirut until Nov. 30. It will not use Iranian and Iraqi airspace up until further. notice, aside from a corridor utilized for flights to and from Erbil. in Iraqi Kurdistan. Israeli airspace will not be utilized up until Oct. 31. SunExpress, a joint venture between Lufthansa and Turkish. Airline companies, suspended flights to Beirut through Dec. 17. PEGASUS. The Turkish airline company cancelled flights to Beirut till Oct. 28. QATAR AIRWAYS. The Qatari airline momentarily suspended flights to and from. Iraq, Iran and Lebanon, while flights to Amman will run. during daylight hours just. RYANAIR. Europe's biggest spending plan airline company cancelled flights to and from. Tel Aviv until the end of December. Group CEO Michael O'Leary on. Oct. 3 stated the suspension was likely to be extended up until. end-March. SUNDAIR. The German airline company cancelled flights from Berlin, Bremen and. Muenster/Osnabrueck to Beirut until Dec. 8. UNITED AIRLINES. The Chicago-based airline suspended flights to Tel Aviv for the. foreseeable future. TAROM. Romania's flag provider extended the suspension of Beirut flights. till Oct. 22. VIRGIN ATLANTIC. The UK carrier extended suspension of Tel Aviv flights up until. end-March. WIZZ AIR. The Hungary-based airline suspended Tel Aviv flights through. Oct. 23 and flights in between Amman and Italy, Hungary, Austria. and Britain till Oct. 16.
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Analyst: Strong demand from abroad pushes Ukraine's sunseed prices up to a record high
Analyst APK-Inform reported on Tuesday that the strong foreign demand for Ukrainian sunflower oil has driven local sunflower seed prices to levels not seen for almost three years. Ukraine is the world's largest sunseed producer and exporter of sunoil, but its sunseed production is expected to decline by 9% in 2024 to 13.8 millions metric tons from 15.1million tons in 2023. In a report, the consultancy stated that the volume of seeds processed could drop by 11% this season to 13,4 million tons. The consultancy stated that the rise in the price of sunflower oil on the export market is supporting the growth of raw material prices. Last week, the demand for sunflower oil at Ukrainian ports grew by $20 to $30 per ton, reaching $1,020 to $1,025 CPT per ton, the highest since January 2023. APK-Inform reported that sunflower prices in Ukraine rose significantly over the last week, reaching their highest level since May 2021. The total price ranged from 22,500 to 24,500 hryvnias (546.29 to $594.85) per ton CPT. In March 2021, the highest price for sunflower was 25,500-27400 hryvnias. The consultancy reported: "The companies reported a slight increase in the supply of oilseeds, but it was still not enough." APK-Inform reported that the sunoil production in Ukraine for 2024/25 could drop to 5,9 million tons, down from 6.6 millions a year earlier. Exports could also drop to 5.55 from 6.25 millions. (1 dollar = 41.1870 Hryvnias). (Reporting and Editing by Louise Heavens, Pavel Polityuk)
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Wizz Air says it verifies Airplane orders till end of 2025
Wizz Air has validated its orders with Plane up until the end of 2025, the airline company's chief executive said on Tuesday, amidst questions over whether the European planemaker can meet its full year delivery target. Airplane deliveries fell 9% in September to 50 jets compared with the very same month last year, reviving a dispute over the strength of its industrial goals as providers battle to keep up with need. Today as we speak we are reconfirmed with Plane till completion of 2025, Wizz Air Chief Executive Jozsef Varadi told a press conference in Warsaw. I'm quite positive that ... (until) completion of 2025 we are great. We are great in 2026 and beyond too, however we just need to understand the number of airplane we are going to take. Varadi likewise said that he thought that pressure on fares was relieving. If I look at the environment today, I mean you are seeing fuel coming down, inflation boiling down, rates of interest coming down, so it seems to me that after a type of a spike of pressure on costs, now it is a time of alleviating that pressure, he said. Hopefully the worst is already behind us. He stated that it was possible that the airline company would not be flying to Israel for the remainder of the year and that it would release an upgrade in the coming weeks. Among the essential concerns is that we are approaching the Christmas period, so we will have to take a decision whether the Christmas period is going to be operated to Israel or not, since if we do not operate to Israel, we want to run somewhere else.
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India needs to invest more than $170 bln to money air travel expansion through 2030, S&P Global Ratings says
India's aviation sector will require to pump in more than $170 billion through 2030 to fund record airplane orders and improve airport capacity in the middle of an ongoing traffic boom, S&P Global Ratings said in a report. India is one of the world's fastest-growing aviation markets and domestic traveler traffic is expected to double to 300 million by 2030, according to government data. Traffic on overseas flights might more than double already, price quotes by aviation research study group CAPA India show. Airline companies on the planet's most populous country have actually put record orders with Airplane and Boeing, and authorities aim to double the number of airports by 2030 in a. quote to develop international air travel centers to rival Singapore, Dubai and. Doha. S&P Global Scores expects Indian carriers will invest $150. billion to fund outstanding orders of 1,700 aircraft, while. $ 24 billion will be required to construct new airports and broaden. existing ones. The timing is best to support higher borrowing. Rising. traveler air traffic, relatively more affordable domestic financing. rates, and conducive government policies on foreign ownership. need to improve funding potential customers for the sector, S&P Global. analysts said. While loanings for airline companies and airports would increase, an. increased reliance on aircraft lessors and domestic banks could. aid alleviate the concern, the experts said.
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Leaders show up in locked-down Islamabad for Shanghai Cooperation event
Kyrgyz Prime Minister Akylbek Zhaparov landed in Islamabad on Tuesday to attend a. headsofgovernment gathering of the Shanghai Cooperation. Organisation (SCO), the Pakistani federal government stated, with the city. under tight security lockdown. The conference of the SCO, a Eurasian security and political. group formed in 2001 by Russia and China, is the greatest profile. occasion hosted by the struggling South Asian country in years. Chinese Best Li Qiang is currently in Pakistan, while. seven more prime ministers of other member and observer states,. including Russian Premier Mikhail Mishustin, will also be. participating in individual. The occasion has actually amassed more attention with India, Pakistan's. neighbour and arch-rival, sending out External Affairs Minister. Subrahmanyam Jaishankar, the first Indian foreign minister to. go to Pakistan in nearly a years as relations stay wintry. in between the 2 nuclear powers. The SCO also consists of Iran, Kazakhstan, the Kyrgyz Republic,. Tajikistan and Uzbekistan. The Prime Ministers of Belarus and. Mongolia are likewise going to. While the primary SCO conference will take place on Wednesday,. Pakistan Prime Minister Shehbaz Sharif is expected to host a. welcome dinner for delegates on Tuesday. Pakistan's Foreign. Workplace stated Sharif will likewise hold bilateral conferences on the. sidelines. The SCO conference will go over continuous cooperation in the. fields of economy and trade, Pakistan's Foreign Workplace stated. Observers believe the bloc seeks to counter Western influence in. the area. Pakistan's federal government has announced a three-day public. vacation in Islamabad, with schools and organizations shut and big. contingents of cops and paramilitary forces deployed. Pakistani army troops will be responsible for the security. of the capital's Red Zone, the place of the parliament and a. diplomatic enclave and where the majority of the SCO meetings will take. place, according to the interior ministry. The hazard alert has actually been high in the South Asian nation. ahead of the SCO summit, particularly after the killing of two. Chinese engineers on Oct. 6 and shooting deaths of 21 miners on. Oct. 11.
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Africa's roadmap to a larger, more environmentally friendly power system: Maguire
Africa could be on its way to becoming a leader in the power sector. African power companies have plans to expand and clean up the energy production base on the continent. This could fuel Africa's economic growth in the next decade and create jobs for its estimated 1.5 billion population. The key to success will be the execution. By the time that projects are complete or near completion, power companies on the continent are looking to increase clean-power production, reduce reliance upon fossil fuels, and almost double their total output. Global Energy Monitor (GEM) reports that the projected 278% increase in Africa's clean energy capacity between now and completion of all planned projects dwarfs the 109% expected for similar projects globally. To realize these plans, major obstacles will need to be overcome, such as a lack in energy policy coordination between nations, outdated energy infrastructure, and limited experience with regional power pools. CLEAN LEADERS Around 32,700 MW of clean power capacity is currently under construction in Africa. Around 60,000 MW are already operational. African power companies are currently building, on average, 250 megawatts of geothermal capacity. They also have nearly 5,000 megawatts of wind projects. There are also 8,100 megawatts of solar parks. Another 134,000 MW clean capacity is currently in the pre-construction stage, which refers projects that are permitted but have not yet broken ground. Locations of current and planned projects are varied, but in general Northern Africa has more planned solar and wind power projects than Sub-Saharan Africa. In terms of size, a few nations stand out. Egypt is currently building 2,400 MW hydro, 1,400MW solar, 2,500MW wind, and 1200MW nuclear. Kenya and Ethiopia both take advantage of their relatively easy access geothermal resources and are building the majority of geothermal power. Around 15,000 MW is planned for Ethiopia, Egypt Angola, Nigeria, and Tanzania. A 4,800 MW Nigerian nuclear plant is also in the pre-construction stage. Around 22,000 MW fossil-fuel-fired capacity is under construction on the continent. An additional 25,000MW are in pre-construction. The additional capacity will add to Africa's current fossil fuel powered operating capacity, which is around 177,000MW or approximately 74% of the continent's total power generation capacity. CHALLENGES The current African power development roadmap is good news for supporters of clean energy, as it includes 50% more capacity being built with clean sources than fossil fuels and five times the capacity that was planned in the preconstruction phase. To bring all these plans to life, it will take a sustained financial, government and societal commitment for the development of clean-power as well as an army of project managers who are capable of executing projects effectively. Some power firms may have difficulty securing enough qualified workers for certain projects. It may be difficult to source certain materials and parts that are in high demand, but remain subjected to manufacturing backlogs and supply-chain delays. The power providers must also ensure that energy generated by their new assets is directed to consumers willing to pay for it. It will be necessary to build extensive, cross-border transmission systems that are mostly not present yet. Transmission lines are already being built in several countries that are rapidly developing, such as Tanzania, Togo and Kenya. Last year, a 1,700-kilometre transmission line connecting Senegal with the Gambia and Guinea Bissau, as well as Guinea, was completed. A 500-km Kenya Tanzania Interconnector will be operational later this year. It's a start, but more long-distance cables will be required if African nations want to maximize the value of their clean-power capacities and if they want to attract paying customers who can help them cover construction costs. The Right Place, the Right Time African power companies may be in a good position to meet these challenges, even though it will not be an easy task. First, energy companies around the world are trying to increase their market share at the same time that several African countries are making major upgrades to their energy systems. African firms could also bypass some traditional energy development avenues through the adoption of new technologies. These can be deployed even in areas where there are no existing grids, and they can be customized to meet the evolving needs of the continent. Firms can, for example, use real-time energy management systems today to ensure that maximum volumes of clean power are delivered around the clock. Fossil fuel plants will only be used as a backup source when clean-generation volume falls short of system requirements. Power suppliers on the continent should have access to battery systems that store excess clean power when output is high and discharge it to grids at peak demand periods to optimize grids, and ensure power flows are as clean as they can be. This is a moment of opportunity for the entire continent. The well-managed, coordinated construction of the power supply pipeline would provide abundant and affordable energy to the region that it urgently needs to stimulate industrial growth. These are the opinions of the columnist, who is also an author.
Hundreds collect to pay last aspects to India's renowned organization tycoon Ratan Tata
Hundreds of individuals, including business leaders, political leaders and celebs, collected in Mumbai on Thursday to pay their last respects to one of India's the majority of appreciated service tycoons, Ratan Tata, who passed away aged 86.
Known for his exemplary company acumen and humanitarian nature, as chairman he led different business under the Tata corporation for more than 20 years, which had income of $165. billion in 2023-24.
Although over the last few years Tata was not as active in the. day-to-day running of the group, he was sought advice from on big. choices by the Tata Sons leadership, a senior business. executive informed Reuters.
Tata had been in a Mumbai hospital given that Monday, but the. reason for his death was not right away made public.
After his death, homages poured in from all over the world,. underlining his appeal that went beyond limits and. generations.
India and the world have lost a giant with a giant heart,. U.S. ambassador to India Eric Garcetti stated on X.
He ... was instrumental in mentoring and establishing the. modern business leadership in India. He deeply cared about. making India much better, Google Chief Executive Sundar. Pichai said.
Draped in the Indian national flag, Ratan Tata's body was. kept at a cultural centre in Mumbai, and his funeral service will be. performed later in the day with complete state honours.
India's reserve bank guv Shaktikanta Das, Tata Sons. Chairman N. Chandrasekaran and Aditya Birla Group Chairman Kumar. Mangalam Birla were amongst early visitors to pay their last. respects to the Padma Vibhushan recipient - India's second-highest. civilian honour.
A licensed pilot who would occasionally fly the business. airplane, Tata never ever married and was known for his peaceful demeanour,. relatively modest way of life and humanitarian work.
We will remember his tradition of transformative offering to. Cornell, his alma mater Cornell University stated on X, calling. Tata their most generous worldwide donor.
(source: Reuters)