Tag Archives: Industrial Goods (TRBC level 2)

Virgin Australia brought back 10 chartered Boeings as domestic demand grew | Instant News


SYDNEY, April 15 (Reuters) – Virgin Australia, the country’s No. 2 carrier, said on Thursday that 10 chartered Boeing Co 737 planes would return to its fleet as part of a plan that would see it reach more than 80% pre-pandemic. domestic capacity by mid-June.

The airline, now owned by US private equity group Bain Capital, last year entered voluntary administration after the pandemic hit and sent many of its 737s back to lessors.

The outlook for Australia’s domestic market is now improving after teetering for months by the pandemic-related closure of state borders.

“More planes means more flights, and with travel restrictions easing, there are more opportunities to support domestic tourism and the country’s economic recovery from COVID-19,” Virgin Australia Chief Executive Jayne Hrdlicka said in a statement.

Bigger rival, Qantas Airways Ltd expects an average of around 80% of pre-pandemic capacity in the quarter ending June 30 due in part to strong demand for tourist travel in a country where local transmission of COVID-19 is nearly eliminated.

Virgin Australia said it had finalized a deal to reintroduce 10 Boeing 737-800s previously operated, with further additions being investigated.

The first three will join the airline’s fleet this month, with the rest due to enter service gradually in October, the airline said.

Virgin Australia has suspended sales of most New Zealand services until October 31 even though the two-way travel bubble opened on April 19 as it focuses on strengthening its position in the domestic market.

Rival Regional Express Holdings Ltd last month launched a Sydney-Melbourne flight using a chartered 737 previously operated by Virgin Australia as a challenge to the incumbent. (Reporting by Jamie Freed Editing by David Holmes)

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Qantas sees recovery in domestic business travel 3 months behind leisure market | Instant News



SYDNEY, April 14 (Reuters) – Australia’s Qantas Airways Ltd has seen domestic leisure travel rebound to pre-pandemic levels, but demand in the business travel market is lagging about three times months, said its managing director. of its pre-pandemic domestic capacity in the quarter ending June 30, allowing it to generate liquidity for the first time in several quarters, Alan Joyce said on Wednesday at an event at the CAPA Center for Aviation. . (Reporting by Jamie Freed; Editing by Clarence Fernandez).



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UPDATE 1-Italia Salvini says Rome must prevent the sale of Iveco to FAW China | Instant News


(Adding details, context)

ROME, March 30 (Reuters) – Italian League party leader Matteo Salvini urged the government on Tuesday to prevent truck maker Iveco from being sold to a Chinese company, saying the Italian firm was a strategic asset to protect.

Iveco is part of CNH Industrial, which is controlled by Exor, the holding company of the Italian Agnelli family. CNH said in January it was in talks with FAW China over the truckmaker’s future.

“It’s a shame,” Salvini told a group of foreign journalists when asked about a possible sale.

“I hope the Italian government will do everything to safeguard, defend and protect strategic assets. If we want to talk about sustainable mobility and ecological transitions, we cannot lose a gem like Iveco, ”he added.

The Salvini League is under a broad national unity government and one of its most senior politicians, Giancarlo Giorgetti, is minister of industry.

Giorgetti said earlier this month that if CNH Industrial decided to sell Iveco to FAW, Rome would use its so-called “golden power”, which would allow it to veto or impose stricter terms on deals involving assets deemed to be of national interest.

Reporting by Crispian Balmer, written by Giulio Piovaccari

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UPDATE 1-China sends fighters as president of Palau, US diplomats visit Taiwan | Instant News


(Remodel, added details, changed media identifier to TAIWAN-PALAU /)

TAIPEI, March 29 (Reuters) – Ten Chinese military aircraft including fighter jets entered Taiwan’s air defense identification zone on Monday as Palau’s president visited the island which Beijing claims was accompanied, unusually, by Washington’s ambassador to the country.

Taiwan’s air force has repeatedly rushed to intercept Chinese planes in recent months, including 20 on Friday, as Beijing attempted to assert its sovereignty and warned the United States to end its support for the democratic island.

China’s ten planes comprising eight warplanes and two reconnaissance planes, the latter flew around southern Taiwan and into the Pacific, according to Taiwan’s Defense Ministry, adding its air force was rushing to alert them.

The defense ministry’s announcement came less than half an hour after Palau President Surangel Whipps Jr., whose country is one of only 15 countries that maintains formal ties with Taipei, spoke to reporters about Chinese pressure on the island.

Whipps says no one can dictate who his less than 20,000 Pacific nation is friends with, given China’s decision in 2017 to effectively ban tour groups, branding them an illegal destination due to a lack of diplomatic status.

“I’m saying if you’re in a relationship, I’m using this example, you’re not hitting your wife to make them love you,” he said.

“I have been told that the opportunities, that the sky is the limit,” added Whipps, referring to China. “But, you know, we have to base our relationship on trust and what happened in the past.”

Whipps, who took office in January, was accompanied by the US ambassador to Palau, John Hennessey-Niland, in showing strong US support for countries, particularly in the Pacific, to stay with Taiwan.

The United States, like most countries, does not have diplomatic ties with Taiwan, and China’s Foreign Ministry on Monday criticized the ambassador’s appearance in Taipei, urging Washington to cut off official contact with Taiwan.

Whipps said the ambassador – who did not answer questions from journalists – was there to demonstrate a shared commitment to democracy and freedom in the region.

“As a small country we can easily be infiltrated and we depend on our partners to protect us and provide us with security,” said Whipps.

The Pacific is the scene of a growing diplomatic tug of war between Beijing and Washington, which has watched with concern China’s attempts to seize ally Taiwan.

In 2019, China brought two Taiwanese there, Kiribati and Solomon Islands. Nauru, Tuvalu, and the Marshall Islands, like Palau, stuck with Taipei.

China has not yet commented on its air force activity recently near Taiwan. (Reporting by Ben Blanchard; Additional reporting by Meg Shen in Hong Long; Editing by William Maclean)

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Enel from Italy posted a 9% increase in net profit to beat expectations | Instant News


MILAN (Reuters) – Italian utility company Enel said net profit rose 9% last year, beating expectations as it continues plans to expand its grid and green energy businesses and reduce carbon emissions.

FILE PHOTOS: Italian multinational energy company Enel logo seen at the headquarters of Milan, Italy, February 5, 2020. REUTERS / Flavio Lo Scalzo

Europe’s biggest utility company said on Monday its usual net profit last year was 5.197 billion euros ($ 6.2 billion), above analyst consensus of 5.133 billion euros.

It will pay dividends on last year’s yield of 0.358 euros per share, 9.1% higher than the previous year.

Enel reported preliminary results in February.

The Group, which added to a record 3.1 gigawatt renewable energy capacity last year, expects to add more than 5 GW this year.

“By 2021 … we look forward to accelerating investment in renewable energy, in better quality and stronger grids and consumption electrification,” said Enel CEO Francesco Starace.

In November, Enel said it would spend 160 billion euros of its own money over the next 10 years to become a green “super major”, becoming carbon free by 2050.

The group said 65% of its electricity production last year was emission-free compared to 57% the previous year thanks to marked reductions in coal-fired power generation.

Enel cut 2.8 GW of coal capacity last year and has phased out coal production from 2030 to 2027.

Big European utility companies are investing massively in the clean share of their businesses as technological advances and stricter rules to tackle climate change force energy companies, including big oil players, to rethink strategy.

($ 1 = 0.8387 euros)

Reporting by Stephen Jewkes, editing by Giulia Segreti, Kirsten Donovan

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