Latest News
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Britain revamps its power grid to eliminate 'zombie projects'
The National Energy System Operator in Britain will give priority to grid connections for the most viable projects of power generation and energy storage as part of a massive overhaul. Britain's goal is to decarbonise the power sector largely by 2030. This will require connecting many more renewable energy plants, such as solar and wind, to the electrical grid. The government also stated that it wanted the country to be a "superpower" in artificial intelligence, which would require grid connections for data centres with high power consumption. The new system replaces the first-come-first-served model that created a line of over 700 gigawatts worth of projects waiting to be connected - more than four times what Britain needs in order to reach its clean energy targets for 2030. Kayte O'Neill said that the changes would reduce grid bottlenecks, by prioritising projects ready to build, and giving certainty as to when and where these projects can be connected. This will unlock billions of dollars in clean energy investments. The new process will allow projects that have planning permissions, land rights, and are aligned with the national energy goals to be connected faster. Approximately 3,000 grid connections were evaluated. 132 GW was identified as being crucial to meeting the Clean Power 2030 government target. A further 151 GW is needed by 2035. NESO announced that 99 GW more projects, including data centres, which require power from the grid will be given priority for connection. It said that more than 300 GW will not be advanced because they have failed to demonstrate readiness, or alignment with the national objectives. Ed Miliband, Britain's energy secretary, said that the government inherited a "broken system" whereby zombie projects were allowed by the government to block grid connections for viable project. NESO stated that the reforms are the result of months of collaboration among NESO and network operators, government officials, industry, Ofgem, and regulators. (Reporting by Susanna Twidale, Editing by Kirby Donovan).
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Bloomberg News reports that Brookfield and GIC are close to a binding offer for National Storage.
Bloomberg News, citing sources familiar with the situation, reported Sunday that Brookfield Asset Management (BAM) and Singapore's GIC were close to making a binding bid for National Storage REIT. The deal could value the Sydney listed company at around 4 billion Australian Dollars ($2.65 billion). The report stated that the parties were finalizing the details of the deal, which could be announced as early as Monday. Brookfield and GIC had also made good progress in their due diligence process on National Storage. The report states that the price for the binding offer will likely be the same in November as the conditional offer. Could not verify immediately the report. National Storage REIT announced last month that it received an A$4.02 Billion buyout offer by a consortium consisting of Brookfield, Singapore's GIC and other companies. This would have been the largest real estate privatisation in Australia. ($1 = 1,5067 Australian Dollars) (Reporting and editing by Andrea Ricci in Bengaluru)
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Canada's Air Transat suspends flights after pilots union strikes notice
Transat AT, a Canada-listed tour operator, announced on Sunday that Air Transat, Canada, will suspend its flights from December 8 to 9 after receiving a 72-hour notice of strike by ALPA, the union which represents the 700 pilots at the company. Air Transat's pilots may begin their strike as early at 3:00 am. Air Line Pilots Association said that the strike would begin at 3:00 AM ET on December 10. The Canadian leisure carrier deemed the strike announcement "premature", given the progress made at the bargaining tables. It said that it had offered compromises including a salary increase of 59% over five years, and improved working conditions. Bradley Small, Chair of the Air Transat Master Executive Council, said: "There's still time to avoid striking, but unless there are significant improvements at the bargaining tables, we may strike to get a modern contract." Transat AT reported that Air Transat was working with the union in order to avoid a strike, but it will stop all operations on December 9th to ensure passengers and crews are not left stranded. Transat AT Inc. offers Air Transat as a brand. Reporting by Abu Sultan in Bengaluru and Shivani Tana; editing by Andrea Ricci
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American Airlines asks for notices regarding the bankruptcy of Spirit Airlines
According to a court document, American Airlines has filed an appearance notice in the bankruptcy proceedings of Spirit Aviation and requested that all notices and documents be served going forward. Spirit filed for bankruptcy a second-time in August as it struggled to deal with its dwindling reserves of cash and increasing losses. The airline stated that it was looking at all possible options in its restructuring, including a merger and sale of the business. American Airlines filed a request in the Southern District Court of New York on December 5, requesting to receive all notices, including operating reports and plans of reorganization, as well as liquidation statements. Spirit and American didn't immediately respond to a comment request. Spirit Airlines has previously stated that they are considering all options to ensure the future of their airline. Spirit actively explores all possible opportunities. The merger or sale of Spirit could maximize value. Spirit stated in a SEC filing in October that the company was actively involved in discussions with several interested counterparties. The U.S. Supreme Court earlier this year rejected a request from American Airlines to overturn a judicial ruling that found the company's scrapped U.S. Northeast Partnership with JetBlue Airways in violation of federal antitrust laws. JetBlue and United Airlines have partnered in a partnership since then. You can also Both airlines' websites allow travelers to book flights. Spirit Airlines urged the U.S. Transportation Department in June to reject the collaboration of United and JetBlue. Spirit Airlines said it was anti-competitive and that other large airlines would pursue similar deals. Reporting by Doyinsola Oladipo in New York, editing by Andrea Ricci
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American Airlines asks for notices regarding the bankruptcy of Spirit Airlines
According to a court document, American Airlines has filed an appearance notice in the bankruptcy proceedings of Spirit Aviation and requested that all notices and documents be served going forward. Spirit filed for bankruptcy a second-time in August as it struggled to deal with its dwindling reserves of cash and increasing losses. The airline stated that it was looking at all possible options, including a merger and sale of the business. American Airlines filed a request in the Southern District Court of New York on December 5, requesting to receive all notices, including operating reports and plans of reorganization, as well as liquidation statements. Spirit and American didn't immediately respond to a comment request. Spirit Airlines has previously stated that they are considering all options to ensure the future of their airline. Spirit actively explores all possible opportunities. The merger or sale of Spirit could maximize value. Spirit stated in a SEC filing in October that it was actively in talks with several interested counterparties. (Reporting from Doyinsola Oladipo in New York, editing by Andrea Ricci.)
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Southwest Airlines fined $11 million by the US for holiday meltdown in 2022
The Trump Administration announced Saturday that it would waive a $11 million fine on Southwest Airlines, as part of the $140 million settlement for the airline's meltdown during a busy travel season in December 2022. Southwest Airlines in December 2023 will pay $35 million in cash and $90 million worth of travel vouchers for passengers who are delayed by at least 3 hours in reaching their final destination due to an airline issue or cancellation. This is because the airline handled the meltdown which stranded over 2 million passengers. In a written order, the U.S. Transportation Department cited Southwest Airlines' decision to invest more than $1 billion into its operations since the 2022 crash to improve performance and reliability as the reason for its decision to waive the remaining $11 millions of the fine due by January 31. Reporting by David Shepardson, Editing by Chizu nomiyama
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Merz and Macron to discuss fate FCAS fighter jet in the week of December 15, says industry source
A source in the industry said that the German Chancellor Friedrich Merz, and the French President Emmanuel Macron plan to discuss the fate the troubled Franco German fighter jet project FCAS – or SCAF – during the week of December 15. The Future Combat Air System (FCAS), a 100 billion-euro ($116-billion) project that was floated over eight years ago, is mired in disputes among the companies concerned about workshare and prized technologies. A source with knowledge of the project said earlier this week that the defence ministers from the participating countries, Germany, France, and Spain, will meet on the 11th to discuss it. The German government spokesperson refused to comment on the exact date but only said that the appointments made by the chancellor will be made public at the appropriate time. The French government did not respond to a request for comment. The French government was not immediately available for comment.
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Bloomberg News reports that Indian and US investigators will meet next week to discuss the Air India crash.
Bloomberg News reported that India would send investigators next week to the United States to review data collected on the fatal Air India crash in June, with the National Transportation Safety Board. The report cited people with knowledge of the situation as saying that Indian investigators planned to share their findings, which included any information they gleaned from cockpit voice and flight recorders. Could not verify immediately the report. The report stated that the meeting would take place at the NTSB headquarters in Washington D.C. Other parties, including Boeing representatives, will also be present. Boeing referred all comments to the Aircraft Accident Investigation Bureau. NTSB, India’s civil aviation ministry, and the AAIB didn't immediately respond to requests for comments. Shortly after takeoff, the Boeing 787 Dreamliner departing from Ahmedabad in India and heading to London began to lose thrust. The 242 passengers and 19 people on the ground were all killed, except for one. (Reporting and editing by Aidan Lewis, Aurora Ellis and Yazhini MV from Bengaluru)
Suspension of flights to Middle East
Concerns about dispute in the Middle East have triggered international airline companies to suspend flights to the area or to prevent afflicted air area.
Below are some of the airlines that have actually suspended services to and from the region:
AEGEAN AIRLINES
The Greek airline has actually cancelled flights to and from Beirut up until March 29.
AIR ALGERIE
The Algerian airline has suspended flights to and from Lebanon until further notice.
AIR ARABIA
The United Arab Emirates provider
resumes
flights to Beirut on Jan. 9.
AIRBALTIC
Latvia's airBaltic has actually cancelled flights to and from Tel . Aviv till Jan. 28. AIR FRANCE-KLM Air France has extended its suspension of Paris-Tel Aviv. flights up until Dec. 31 and Paris-Beirut flights up until Jan. 5.
KLM has actually extended the suspension of flights to Tel Aviv until. the end of the year at least.
The group's low-priced unit Transavia has cancelled flights to. and from Tel Aviv, Amman and Beirut up until end-March.
AIR INDIA
The Indian flag provider has actually suspended flights to and from. Tel Aviv up until further notification.
BULGARIA AIR
The Bulgarian carrier resumed flights to and from Tel Aviv. on Dec. 26.
CATHAY PACIFIC
Hong Kong-based Cathay Pacific has cancelled flights to Tel . Aviv until
Oct. 25, 2025. CORENDON AIRLINES
The Turkish airline company cancelled flights to and from Tel Aviv. till January.
DELTA AIR LINES
The U.S. provider has paused flights between New York and Tel . Aviv through March 2025.
EASYJET
EasyJet will not hurry to resume flights to Tel Aviv. after a ceasefire in between Israel and Hezbollah entered into effect,. its incoming CEO stated on Nov. 27. The UK spending plan airline had. previously suspended flights to and from Tel Aviv till March.
EMIRATES
UAE's state-owned airline company has actually cancelled flights to Beirut. and to Baghdad till Jan. 15.
FLYDUBAI
Flights to Beirut are suspended, a flydubai spokesperson. said on Nov. 28.
IAG
IAG-owned British Airways has actually suspended flights to Tel Aviv. up until the end of March 2025.
IAG's low-cost airline Iberia Express has cancelled flights. to Tel Aviv up until March 29, while Vueling has cancelled. operations to Tel Aviv and to Amman till at least early 2025.
IRAN AIR
The Iranian airline company has actually cancelled Beirut flights until. even more see.
IRAQI AIRWAYS
The Iraqi national carrier has suspended flights to Beirut. till more notification.
ITA AIRWAYS
The Italian carrier has actually extended the suspension of Tel Aviv. flights through Jan. 31.
LOT
The Polish carrier prepares its very first scheduled flight to. Beirut for April 1.
LUFTHANSA GROUP
The German airline group has actually extended the suspension of its. flights to Tel Aviv up until Jan. 31.
Flights to Tehran are cancelled till Jan. 31 and to Beirut. until Feb. 28.
SunExpress, a joint venture between Lufthansa and Turkish. Airline companies, has suspended flights to Beirut until March. 31.
PEGASUS
The Turkish airline company has actually cancelled flights to Beirut until. Jan. 1.
RYANAIR
Europe's most significant budget plan airline does not plan on resuming. operations to Israel till March 31 at the earliest, while a. decision to resume operations to and from Jordan from December. is under conversation, a Ryanair representative said on Nov. 27.
SUNDAIR
The German airline company has actually cancelled flights between Beirut and. Bremen until March 26.
VIRGIN ATLANTIC
The UK carrier has actually suspended Tel Aviv flights till. end-March.
WIZZ AIR
The Hungary-based airline company has suspended Tel Aviv flights. through Jan. 14, other than for those from Larnaca.
(source: Reuters)