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Exclusive-Air India Closes to Historic Order of Up to 500 Aircraft By Reuters

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© Reuters. FILE PHOTO: A bird flies over the Air India logo at the airline’s headquarters in Mumbai, India, October 19, 2021. REUTERS/Francis Mascarenhas

Written by Tim Hever and Aditi Shah

PARIS/NEW DELHI (Reuters) – Air India is closing in on historic orders for up to 500 jets worth tens of billions of dollars from both Airbus and Boeing (NYSE: NYSE:) as it makes an ambitious renaissance under the Tata Group conglomerate. . Industry sources said on Sunday.

They said the orders include up to 400 narrow-body aircraft and 100 or more wide-body aircraft, including dozens of Airbus A350s and Boeing 787s and 777s, who spoke on condition of anonymity as the giant deal would be finalized in the coming days. . .

Such a deal could exceed $100 billion at list prices, including any options, and rank among the largest deal by a single airline by volume, overshadowing a joint order for 460 Airbus and Boeing planes from American Airlines ( NASDAQ 🙂 over a decade ago. Even after expected deep cuts, the deal would be worth tens of billions of dollars and cap a volatile year for an industry that has returned demand for its planes after the pandemic but is facing mounting industrial and environmental pressures.

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Airbus and Boeing declined to comment. Air India, owned by the Tata Group, did not immediately respond to a request for comment.

The potential order comes days after Tata announced the merger of Air India with Vistara, a joint venture with Singapore Airlines (OTC:), to create a larger full-service airline and boost its presence in domestic and international skies. The deal gives Tata a fleet of 218 aircraft, cementing Air India as the country’s largest international carrier and the second largest in the domestic market after flagship Indigo Air India, with its maharaja mascot, once known for its lavishly decorated planes and impeccable services. The reputation declined in the mid-2000s as financial problems escalated. Founded by JRD Tata in 1932, Air India was nationalized in 1953. Tata regained control in January and has since been reviving its reputation as a global airline. The planned demand reflects a deliberate strategy to regain a strong share of traffic flows to and from India, which is currently dominated by foreign airlines such as Emirates Airlines.

Air India also wants to win a larger share of regional international traffic and the domestic market, leading to a battle on both fronts with IndiGo.

Delivered over at least a decade, the 500 aircraft will replace and expand fleets in the world’s fastest-growing airline market, while contributing to Prime Minister Narendra Modi’s goal of expanding the economy to $5 trillion.

But experts warn that many obstacles stand in the way of Air India’s ambition to regain a strong global position, including fragile domestic infrastructure, a shortage of pilots and the risk of stiff competition with Gulf airlines and others.

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Red Flags That Your Spouse Is Hiding Money (And What To Do About It)

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Marriage can be hard enough without one spouse hiding money from the other.

When financial infidelity occurs in the form of “hidden cash,” a marriage or a live-forever relationship can easily be ended.

The truth is About 30% of American couples suffer from financial infidelity. Other evidence shows that more than 75% of couples describe the hidden money situation as negative and common 10% of these scenarios end in divorce.

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US judge orders Norwegian Cruise Line to pay $110m for use of Cuba port By Reuters

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© Reuters. Norwegian American Airlines cruise ship Marina arrives in Havana Bay, Cuba on March 9, 2017. REUTERS/Alexander Meneghini/File/File Photo

Written by Brian Ellsworth

MIAMI (Reuters) – Norwegian Shipping Line (NYSE) has to pay $110 million in compensation for the use of a port confiscated by the Cuban government in 1960, a US judge said Friday, marking a significant milestone for Cuban Americans. Who are seeking reparations for the Cold War era. Assets confiscation.

The decision by US District Judge Beth Bloom in Miami follows her decision in March that use of the Havana Cruise Terminal constituted smuggling of forfeited property belonging to the plaintiff, Delaware-registered Havana Docks Corp.

The decision read: “The judgment is made in favor of Plaintiff Havana Docks Corporation and against Norwegian Cruise Line Holdings, Ltd.”

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“The plaintiff was awarded $109,848,747.87 in damages,” it says, adding that the Norwegian must also pay an additional $3 million in legal fees and costs.

Norwegian Cruise Line did not immediately respond to a request for comment.

Cuban President Miguel Diaz-Canel has sharply criticized the Helms-Burton Act, calling it an extraterritorial violation of international law.

Havana Docks also sued Carnival Cruise Lines (NYSE: ), Royal Caribbean (NYSE:) and MSC under the Helms-Burton Act, which allows US citizens to sue over the use of property seized in Cuba after 1959.

The ruling could fuel more lawsuits by Cuban exiles pursuing claims, worth $2 billion, according to one estimate, over asset seizures under late Cuban leader Fidel Castro.

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It may also serve as a reminder to multinational companies of the complexities that can come with doing business in Cuba.

In 2016, US cruise ships began traveling to Cuba for the first time in decades after a détente negotiated by former President Barack Obama eased some provisions of a Cold War US embargo.

But the Trump administration in 2019 ordered a halt to all such cruises amid efforts to pressure Cuba over its support for Venezuelan President Nicolas Maduro, Washington’s ideological foe.

The Trump administration has also allowed US citizens to sue third parties for using property seized by Cuban authorities, a provision of the Helms-Burton Act that every previous president has waived since the law was passed in 1996.

Havana Docs says Cuba, which has been under a US trade embargo for decades, has never compensated it for taking the drug.

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The four cruise lines sued in 2019 in the US District Court for the Southern District of Florida. Bloom in March held the companies liable for damages under the Helms-Burton Act, also known as the Libertad Act.

According to the US-Cuban Economic and Trade Council, a nonprofit organization that provides information on relations between the two countries, 5,913 validated claims related to property seized in Cuba represent an estimated liability of nearly $2 billion.

Forty-four lawsuits have been filed under Title III of the Helms-Burton Act, the organization says.

“For the current plaintiffs of Cuban descent, (the decision) will give them a moment of relief,” said John Cavulich, the group’s president. “It will give them a moment to say ‘You can run but you can’t hide,’” Cavulich said.

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Is a Royal Caribbean or Carnival beverage package worth it?

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An all-inclusive beverage package that gives you access to beer, wine, liquor, bottled water, soda, specialty coffee, and even shakes/juices may cost more than your cruise fare.

This is especially true right now when many cruise cabins are being sold at discounted prices while the drinks package prices have gone up.

Deciding whether to purchase a drink package is a challenge because you have to estimate whether you will be drinking enough to cover the cost. Or, more importantly, whether you’d spend more if you decided not to purchase a drink package.



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