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India's Indigo continues to struggle as travel disruptions cause flight delays
IndiGo shares fell 4.8% Monday. They are on track for their worst session in over a month, and have now lost seven sessions. A staffing crisis caused mass cancellations of flights and travel disruptions. IndiGo, India’s largest airline based on market share, is suffering from its worst operational crisis. A pilot shortage compounded with inadequate planning of new rules for crew working hours led to thousands of cancellations in the last week. This left passengers stranded at airports, and forced the Indian government to step in to stop a sharp rise in air fares. The civil aviation regulator gave the company 24 hours on Sunday to explain its position and avoid regulatory action. SpiceJet shares rose 13.9%. IndiGo's shares fell 9% last week, their biggest weekly decline since June 2022 when an increase in COVID-19 cases impacted air travel demand.
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What are the differences between the militaries of Cambodia and Thailand?
Thailand's military has announced that it launched airstrikes along its disputed border, with Cambodia. Both countries had accused each other of violating a ceasefire mediated by U.S. president Donald Trump. Thailand suspended its de-escalation measure last month after a Thai army soldier was injured in the latest of a series of incidents that involved landmines, which Bangkok claims were laid by Cambodia. Cambodia denies the accusations. Budgets and Ground Personnel In 2024, Cambodia had a defense budget of $1.3billion and 124.300 active military personnel. The Armed Forces were formed in 1993 by merging the former Communist military of Cambodia with two other resistance arms. The largest of these is the Cambodian Army, which has around 75,000 soldiers and more than 200 battle tank, along with 480 pieces artillery. Thailand is classified by the U.S. as a major non NATO ally. It has a well-funded, large military with a budget of $5.73billion in 2024. There are also over 360,000 active members. The Thai army is composed of 245,000 soldiers, including 115,000 conscripts. It also has 400 battle tanks, more than 1,200 armored personnel carriers, and 2,600 artillery guns. The army's fleet includes passenger planes, Black Hawk helicopters (made in the USA) and unmanned aerial vehicle. Air Forces The Cambodian air force is composed of 1,500 personnel and a fleet that includes 10 transport aircrafts and 10 helicopters. The country does not have any fighter aircraft, but it has 16 multi-role rotorcraft including six Soviet Mi-17 helicopters and 10 Chinese Z-9 helicopters. Thailand's air force is one of the most well-equipped and best trained in Southeast Asia. It has an estimated 46,000 people, 112 combat aircraft including 28 F-16s, 11 Swedish Gripen fighters and dozens helicopters. NAVIES The Cambodian Navy has a total of 2,800 personnel including 1,500 naval soldiers, 13 patrol and coastal battle vessels, and one amphibious landcraft. Thailand's Navy is larger than most, with 70,000 members, including marines, naval aviation, coastal defense, and conscripts. The fleet consists of one aircraft carrier and seven frigates. There are also 68 patrol vessels and coastal combat ships. Thai naval forces also include amphibious landing ships that can hold hundreds of soldiers each, as well as 14 smaller landing craft. Thailand's Naval Aviation Division has its own fleet, including UAVs and helicopters. It also has a Marine Corps with 23,000 personnel and dozens of armed combat vehicles. (Compiled by Devjyot Ghoshal, edited by Michael Perry).
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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
China's C919 rivals Boeing and Airbus makes its debut outside Asia
China made its Middle East debut of its C919 jetliner at the Dubai Airshow, Monday. It was its first time outside East Asia. The display showcased plans to compete against Airbus and Boeing.
The C919 aircraft in white with blue and green detailing took off around 3:30 pm local time (1130 GMT). It made several circle passes in the air before safely landing on the Al-Maktoum International Airport runway tarmac.
COMAC, a Chinese aircraft manufacturer, has ambitious plans to compete with the dominant Western manufacturers Airbus & Boeing and their smaller Brazilian competitor Embraer.
COMAC's C909 and C919 planes lack certification from Western regulators. They are therefore looking to other markets in order to boost their profile.
C919: CHINA’S ANSWER FOR THE BOEING MAX 10, AIRBUS A321NEO
On Monday, at the Airshow in London, hundreds of people waited to see the C919 aircraft parked alongside other aircraft. The pilot was seated in the cockpit of the C919 and talked to visitors about how he operated it.
COMAC has developed plans for an aircraft family.
Visitors took pictures of a C919 stretched variant at COMAC's stand in the main airshow exhibition hall. The aircraft, COMAC stated, would carry 210 passengers, and service the Asia-Pacific region.
The longer version is aimed at the Airbus A321neo, and Boeing's 737 MAX 10 – the top end of single-aisle markets where Airbus and Boeing are battling it out for the most highly contested orders.
COMAC displayed the regional C909 on the tarmac. This plane was China's very first jet-engined aircraft to enter commercial production in 2016 and enter service.
So far, neither model has been a big global success.
CHINA TAKES ON THE LAST BASEMENT OF WESTERN MACHINING
COMAC also showed materials outlining the C929 wide body jet, originally developed with Russia but now solely driven by COMAC. However, there were few technical details.
COMAC officials declined comment on their company's participation at the airshow, and stated that there was no planned media engagement.
COMAC stated in a press release that it is "committed to open collaboration and looks forward building stronger and closer relationships with global partners and customers."
Gulf countries enjoy strong ties with China. It is the largest trading partner of both Saudi Arabian and UAE. They have also welcomed Chinese firms' cooperation in the past few years in areas such as manufacturing, construction, and technology.
Analysts don't expect China to capture a significant share of the global jet industry beyond deals with supporting countries anytime soon, but they say that its presence is a signal of its intention to penetrate one the last bastions for Western manufacturing.
Stephanie Pope, CEO of Boeing Commercial Airplanes, welcomed COMAC to one of the industry's most prestigious events. She pledged that the company would maintain its edge by continuing innovation.
Competition is good for the industry. Boeing benefits from it. "It makes us better as a whole," she said. (Additional reporting and editing by Adam Jourdan, Joe Bavier, and Tim Hepher)
(source: Reuters)