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☆ Virgin Australia adds Boeing MAX-8 aircraft as demand stays buoyant
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +1 min

Nov 24 (Reuters) - Airline operator Virgin Australia (IPO-VIR.AX) on Friday said it has added six Boeing MAX-8 aircraft to further expand its fleet and meet travel demand, taking its total order for the planes to fourteen. Australia's second-biggest carrier returned to a profit for the first time in 11 years in fiscal 2023, buoyed by a strong recovery in travel demand following the COVID-19 pandemic. "Travel demand remains high and we continue to grow and renew our fleet, enabling us to deliver great value and choice in the market," Virgin Australia Chief Strategy and Transformation Officer Alistair Hartley said. The MAX-8 aircrafts will enter the domestic and short-haul international routes including Fiji, Bali and Samoa, the carrier said. Reporting by Adwitiya Srivastava in Bengaluru; Editing by Mrigank DhaniwalaOur Standards: The Thomson Reuters Trust Principles.

Persons: Australia's, Alistair Hartley, Adwitiya Srivastava, Mrigank Organizations: Virgin Australia, Boeing, Thomson Locations: Fiji, Bali, Samoa, Bengaluru

☆ Australia's Lynas plans temporary shutdown of Malaysia ops, shares fall
▼ + stars: | 2023-10-20 | by ( Echha Jain | ) www.reuters.com time to read: +3 min

A small toy figure and mineral imitation are seen in front of the Lynas Rare Earths logo in this illustration taken November 19, 2021. Shares of the miner closed 1.9% lower, after falling as much as 2.7% to A$6.24 mid-trade, the stock marked its lowest since May 3. It will implement an upgrade to its downstream operations at Lynas Malaysia to increase production of neodymium-praseodymium (NdPr) to about 10,500 metric tons per annum. The world's largest producer of rare earths outside China also reported a 21.8% drop in its first quarter sales revenue to A$128.1 million ($81.04 million). NdPr production for the quarter came in at 1,526 rare earth oxide tonnes (REOt), compared with 1,045 REOt a year earlier.

Persons: Dado Ruvic, Lynas, Anwar Ibrahim, Echha Jain, Adwitiya Srivastava, Roushni Nair, Devika Syamnath, Jacqueline Wong Organizations: REUTERS, 10,500tpa, Malaysian, Thomson Locations: Malaysia, Lynas Malaysia, Kalgoorlie, Western Australia, China, Bengaluru

☆ Australia's Lynas announces planned shutdown of Malaysia ops
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

A small toy figure and mineral imitation are seen in front of the Lynas Rare Earths logo in this illustration taken November 19, 2021. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsOct 20 (Reuters) - Australia's Lynas Rare Earths (LYC.AX) said on Friday there will be a planned shutdown of all its operations in Malaysia except its mixed rare earth carbonate processing plant in the December quarter. The company also reported a 21.8% fall in first-quarter revenue, hurt by lower product prices and continued accumulation of inventory. The company will implement an upgrade to its downstream operations at Lynas Malaysia to increase production of neodymium-praseodymium to about 10,500 tonnes per annum. ($1 = 1.5808 Australian dollars)Reporting by Echha Jain and Adwitiya Srivastava in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Lynas, Echha Jain, Adwitiya Srivastava, Devika Organizations: REUTERS, Malaysian, Mt, Thomson Locations: Malaysia, Kalgoorlie, Western Australia, China, Bengaluru

☆ Australia's Lynas announces planned shutdown of Malaysia ops, shares fall
▼ + stars: | 2023-10-19 | by ( Echha Jain | ) www.reuters.com time to read: +3 min

A small toy figure and mineral imitation are seen in front of the Lynas Rare Earths logo in this illustration taken November 19, 2021. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsSummaryCompanies Lynas to conduct planned shutdown of Malaysia opsCo to upgrade NdPr production in Malaysia to 10,500tpaQtrly sales revenue slips 21.8%Shares fall as much as 2.7%Oct 20 (Reuters) - Australia's Lynas Rare Earths (LYC.AX) said on Friday it planned to shut all operations in Malaysia except a mixed rare earth carbonate processing plant in the December quarter, with minimal volumes of the raw material processed during the shutdown. Shares of the miner fell as much as 2.7% to A$6.24 by 0045 GMT, the lowest since May 3. It will implement an upgrade to its downstream operations at Lynas Malaysia to increase production of neodymium-praseodymium (NdPr) to about 10,500 tonnes per annum. NdPr production for the quarter came in at 1,526 rare earth oxide tonnes (REOt), compared with 1,045 REOt a year earlier.

Persons: Dado Ruvic, Lynas, Anwar Ibrahim, Henry Jennings, Echha Jain, Adwitiya Srivastava, Devika Syamnath, Jacqueline Wong Organizations: REUTERS, Co, 10,500tpa, Malaysian, Marcustoday, Thomson Locations: Malaysia, Kalgoorlie, Western Australia, China, Bengaluru

☆ Singapore SPAC Vertex Tech to buy streaming platform for up to $676 mln
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +1 min

Oct 2 (Reuters) - Singapore's Vertex Technology Acquisition Corp (VTAC) (VERT.SI) will buy live streaming platform 17LIVE Inc for up to S$925.1 million (about $676 million), the special purpose acquisition company (SPAC) backed by state investor Temasek said on Monday. The pro-forma equity value of the proposed deal will be up to S$1.16 billion, VTAC said. "We see 17LIVE as a company at its inflection point, backed by a strong management bench," VTAC Chief Executive Jiang Hong Hui said. VTAC will issue up to 160.6 million new shares at S$5.00 each and another 24.4 million new shares once certain financial targets are met. ($1 = 1.3682 Singapore dollars)Reporting by Adwitiya Srivastava in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

Persons: VTAC, 17LIVE, Jiang Hong Hui, Adwitiya Srivastava, Savio D'Souza Organizations: Technology, Corp, Temasek, 17LIVE, Thomson Locations: Japan, Taiwan, Singapore, Bengaluru

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