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Opinion: A Russian weapon could wipe out US space edge
  + stars: | 2024-05-15 | by ( Clayton Swope | ) edition.cnn.com   time to read: +7 min
Here, the NanoRacks-Remove Debris satellite is deployed from the International Space Station in 2018. Before revelations about Russia’s development of a nuclear anti-satellite weapon, there had been indications of global recognition that the use of certain space weapons was bad for everyone. The proposed defense budget for 2025 does not reflect the scale and urgency of the need to counter space threats and protect space systems. Learning how to operate satellites in a space environment clogged with debris or increased radiation caused by a space weapon is also important. We need a two-pronged effort to prepare for the worst: Double down on efforts to protect and maintain access to space in a hostile space environment and consider how to operate without space.
Persons: Clayton Swope, Mike Turner, Estonia’s, , Vassily Nebenzia, Frank Herbert’s Organizations: Aerospace Security, International Security, Center for Strategic, International Studies, CIA, CNN, Clayton, Clayton Swope Center, Strategic, United, US, Intelligence, Ohio Republican, International Space Station, NASA, GPS, Finnair, United Nations, UN, Twitter Locations: Washington , DC, Russian, United States, Russia, Ohio, Vietnam, Guadalcanal, Iwo Jima, Tartu, China, Moscow
Read previewIn February, I finally checked off one of my top bucket list items — seeing the aurora borealis, better known as the northern lights. I journeyed all the way to Finland's northernmost municipality, Utsjoki, about 280 miles north of the Arctic Circle. Location, location, locationWhile recent environmental phenomena have made the northern lights visible in places as far south as England and Denmark, the aurora borealis are best viewed within the Article Circle. AdvertisementThe vibrant colors that appear in photos are not what humans seeNot every color of the northern auroras is visible to the naked eye. "The lights are there, but if it is super cloudy — we can't, of course, see them," Tiina told me.
Persons: , Tiina, Taylor Rains, Tiina Salonen, Utsjoki, it's, Nature Organizations: Service, Business, Finnair, Disney Locations: Utsjoki, New York, Ivalo, Finland, Helsinki, Lapland, Aurora, Norway, , England, Denmark, Fairbanks , Alaska, Tromsø, Territories, Sweden, Ilulissat, Greenland, Antarctica, Kathmandu
Airlines capitalize on this trend with "stopover" programs, some even offering free hotels and food. Airlines have jumped on this growing trend with built-in "stopover" programs, which can come with free or discounted hotels, excursions, transportation, and food at the layover destination. Essentially, you can't intentionally book a longer layover to quality for the free stopover hotel. Massimo Insabato/Archivio Massimo Insabato/Mondadori Portfolio via Getty ImagesSingapore Airlines' stopover program is available via the multi-city tool, similar to other carriers, where travelers can add hotels, transfers, and activities. Urbanandsport/NurPhoto via Getty ImagesTurkish Airlines' stopover program gives economy travelers a one-night free hotel stay and business flyers a two-night free stay if the period between their connecting flights in Istanbul exceeds 20 hours.
Persons: , Robert Smith, Markus Mainka, Liang Xu, Nicolas Economou, Thomas Mukoya, Suparat, Finnair, Shutterstock Icelandair, Marcio Rodrigo Machado, Bauer, Griffin, Alexi Rosenfeld, CHARLY TRIBALLEAU, Massimo Insabato, It's, Matheus Organizations: Service, Airlines, Travelers, An Air Canada Boeing, Getty Images Air, Air France, KLM Air France, KLM, Air, China Southern Airlines, China Southern Airlines Airbus, Getty Images China Southern Airlines, Copa Airlines AP Copa Airlines, Copa, Emirates, Emirates Airbus, Getty Images Emirates, Dubai Connect, Ethiopian Airlines Ethiopian Airlines, Reuters Ethiopian Airlines, Etihad Airways, Etihad Airways Airbus, Shutterstock.com Etihad Airways, Fiji Airways Fiji Airways, Shutterstock Fiji Airways, Iberia Airbus, Japan, Japan Airlines Boeing, Japan Airlines, Latam Airlines Boeing, Latam Airlines, Hotels, An Oman Air, Getty Images Oman Air, Qantas, Getty, JAL, Oneworld, Qatar Airways, Qatar Airways Boeing, Getty Images Qatar Airways, Royal Jordanian Airlines Royal Jordanian Airlines Boeing, Getty Images Royal Jordanian Airlines, Air Lines, Swiss International Air Lines Airbus, Getty Images Swiss, Singapore Airlines, Airbus, Getty Images Singapore Airlines, Portugal, TAP Air Portugal Airbus, TAP Air Portugal, Turkish Airlines, Turkish Airlines Airbus, Getty Images Turkish Airlines Locations: Getty Images Air Canada, Canada, Air France, Xinhua, Panama, Panama City, Emirates, Dubai, UAE, Addis Ababa, Abu Dhabi, Fiji, Australia, New Zealand, Pacific, Helsinki, Iberia, Iberia Airbus Iberia, Madrid, Icelandair, Reykjavik, Tokyo, Osaka, Kyoto, São Paulo, Brasilia, Fortaleza, Recife, Manaus, Curitiba, Belem, Oman, Muscat, layover, Bangkok, San Francisco, AFP, Switzerland, Singapore, Lisbon, Porto, Portuguese, Azores, Madeira, Istanbul
I recently took long-haul flights on European flag carriers British Airways and Finnair in economy. The coach seats were comparable, with good space and comfort, but I liked my Finnair flights better. Still, British Airways was decent, and I'd book again if the price were right. AdvertisementI recently flew back-to-back on two countries' flag carriers in Europe: British Airways and Finnair. The closeness of the flights made it easy to see how Finnair has an edge over British Airways.
Persons: , Finnair Organizations: British Airways, Service, Finnair Locations: Europe, London, Helsinki
I recently flew between New York and Helsinki on Finnair's Airbus A350-900 in economy. Finnair is now my go-to for long-haul flying despite an inconsistent weight policy for carry-ons. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementI recently traveled all the way from New York City to Finland's northernmost municipality of Utsjoki for a chance to see the aurora lights. This story is available exclusively to Business Insider subscribers.
Persons: Organizations: Airbus, Service, Scandinavian Airlines, Business Locations: New York, Helsinki, New York City, Finland's, Utsjoki, Lapland
“I don’t believe that you should be worried,” says Geoffrey Thomas, an aviation safety expert and editor in chief of Airline Ratings, which publishes an annual list of the safest airlines. The list of the world’s safest airlines is topped by Air New Zealand, Qantas, Virgin Australia, Etihad Airways, Qatar Airways, Emirates, All Nippon Airways, Finnair and Cathay Pacific. Charly Triballeau/AFP/Getty Images“Aviation is the safest mode of transportation,” says Anthony Brickhouse, a professor of aviation safety at Florida’s Embry-Riddle Aeronautical University. “Unfortunately, with the Japan Airlines accident, we did lose five people on the military aircraft, but everybody made it off of the civilian aircraft. Remote in probabilityDespite concerns, the Boeing 737 has a better safety record than the 747, experts say.
Persons: , Geoffrey Thomas, it’s, , Thomas, Charly Triballeau, Anthony Brickhouse, Florida’s Embry, Brickhouse, Max, we’ve, Willie Walsh, Arnold Barnett, That’s, we’re, ” Barnett, Jason Redmond, Barnett Organizations: CNN, Alaska Airlines, Max, Boeing, , Airbus, Air New Zealand, Qantas, Virgin Australia, Etihad Airways, Qatar Airways, Emirates, All Nippon Airways, Finnair, Cathay Pacific, Getty, Florida’s, Riddle Aeronautical University, US Federal Aviation Administration, National Transportation Safety Board, Japan Airlines Airbus, Tokyo Coast Guard, FAA, Japan Airlines, NTSB, Reuters, Massachusetts Institute of Technology, European Union, United Locations: AFP, Tokyo, Japan, Africa, Latin America, Asia, Australia, Canada, China, Israel, New Zealand, Norway, Switzerland, United Kingdom, United States
Finnair says that weight data helps the safe operation of flights. AdvertisementAn airline’s trial policy to ask passengers to weigh themselves before flights has sparked controversy, with critics saying it could be triggering and embarrassing. Travel journalist Yvette Caster, also interviewed by GB News, called Finnair's move to weigh passengers "fatphobic." Finnair has announced it will begin weighing passengers with their carry-on luggage to better estimate the plane's weight before take-off. Uzbekistan Airlines began weighing passengers for the same reason in 2015.
Persons: Finnair, , Hayley Hasselhoff, Yvette, Kate Staniforth, , Laura Sanders, MailOnline, “ It's Organizations: Service, GB, Travel Republic, Air, Zealand, Korean, Hawaiian Airlines, Uzbekistan Airlines Locations: Finland, British
But Finland's national carrier Finnair said Friday that it started asking passengers this week voluntarily and anonymously hop onto a scale with their hand luggage at the country's main airport in Helsinki, the airline said Friday. Passengers boarding onto European and long-haul flights won't be “penalized for their weight,” and “the numbers are kept discreet, away from prying eyes,” she added. Finnair has chosen the latter, but safety authorities require that the survey is renewed every five years. The last time Finnair weighed passengers was in 2018. In June, New Zealand’s national airline also weighed passengers before boarding.
Persons: Finnair, , Päivyt Tallqvist, Tallqvist Organizations: Associated Press, Passengers, European Aviation Safety Authority, New Locations: COPENHAGEN, Denmark, Helsinki, Finnair
Finnair starts weighing flying passengers at the gate
  + stars: | 2024-02-08 | by ( Julia Buckley | ) edition.cnn.com   time to read: +4 min
CNN —We all know what it’s like to have our baggage weighed at an airport check-in. But now, some brave airline passengers are consenting to being weighed themselves before boarding the plane. In a trial by European carrier Finnair at its Helsinki Airport hub, volunteer passengers are being weighed at the departure gate in order to allow the airline to refine weight estimates for planes before takeoff. Korean Air conducted its own weighing program in 2023, while Air New Zealand also did a weight survey last year. Finnair is collecting data for both winter and summer seasons, since passengers tend to wear heavier clothing and coats during the cold Finnish winters.
Persons: “ crouch, , you’ve, who’s, Päivyt, Finnair’s, Tallqvist, Alessandro Rampazzo, Finnair, Munnukka Organizations: CNN, Helsinki Airport, Getty, Civil Aviation Authority, European Aviation Safety Authority, Korean Air, Air New, Finnish Transport and Communications Agency Locations: Helsinki, AFP, Air New Zealand, Finnish, Munnukka
Finnair said no personal data is being collected along with passenger weight. Finnair uses its own passenger weight measurements, and authorities require that the data is updated every five years. The European Aviation Safety Authority also collects its own data on passenger weight for aircraft mass and balance calculations. Its latest study, in 2022, showed that average passenger weight did not significantly increase or decrease since the last study in 2009. AdvertisementAir New Zealand, Korean Air, Hawaiian Airlines have made similar requests of passengers in the past year, to better understand average weights for safety.
Persons: Finnair, , Munnukka Organizations: Service, Guardian, European Aviation Safety Authority, Korean Air, Hawaiian Airlines, Uzbekistan Airlines, Business Insider Locations: Finnair, Finnair's, Helsinki, Zealand, Korean
Russia is trying to cut off Ukraine's access to Elon Musk's Starlink satellites, analysts said. AdvertisementRussia is trying to cut off Ukraine's access to Elon Musk's Starlink satellites, according to space warfare analysts. Since the start of the war, Russia has been using jamming systems to try and deny Ukrainian forces access to commercial satellites. Because Starlink satellites are closer to Earth, latency — the delay between a user's action and a response on the network — is shorter. She said Starlink satellites are both "resilient" and "agile," with Starlink operators constantly updating their software to overcome Russian attacks.
Persons: Elon Musk's, It's, , Brian Weeden, Weeden, MADS CLAUS RASMUSSEN, Kari Bingen, Bingen, Sauli Niinisto, Joe Biden, Elon Musk, Starlink, ї Bingen, Сили Спецальних Операцй ЗС Украни Organizations: Elon, Service, Russia, Business, SpaceX, Aerospace Security, International Security, Center for Strategic, International Studies, CSIS's Aerospace Security, Viasat, Reuters, Pentagon, Space Watch, The Washington Post, KU, Ukraine's Special Forces, Telegram Locations: Russia, South Funen, Denmark, Ukraine, American, Europe, Finland's, Kaliningrad, Finland, NATO, Russian, Leer, Ukrainian, Ukraine's Donetsk
How European airlines have hedged against fuel price increases
  + stars: | 2023-11-06 | by ( ) www.reuters.com   time to read: +5 min
Spot Northwest European jet fuel prices were at $950 per metric ton on Monday, up 4% from before the assault. They also try to hedge against value changes in the U.S. dollar, in which jet fuel is priced. JET2 (JET2.L):The British leisure travel company said in July it had 81.8% of fuel hedged over the next 12 months. Lufthansa has hedged 74% of the fuel it expects to need for 2024 at an average price of $951 per ton. WIZZ AIR (WIZZ.L):The Hungarian carrier said in June it had hedged 62% of its 2024 fuel needs and 53% of the dollars it needs for that fuel.
Persons: Toby Melville, Vueling, IAG, Camilla Borri, Louis van Boxel, Woolf, Marta Frąckowiak, Milla Nissi, Edwina Gibbs Organizations: Heathrow Airport, REUTERS, Brent, U.S ., AIR FRANCE, KLM, Reuters, British Airways, LUFTHANSA, Lufthansa, NORWEGIAN AIR, RYANAIR, SAS, Thomson Locations: London, Israel, Ukraine, Franco, Dutch, Iberia, NORWEGIAN, Norwegian, Gdansk
Intra-European travel has been doing very well," said aviation analyst James Halstead, adding that limited planes meant ticket prices could stay high. Britain's easyJet (EZJ.L) said earlier this month it wanted to more than double profits and expand its fleet, even though fuel prices could mean higher ticket prices. Spot Northwest European jet fuel prices were at $957 per metric ton on Wednesday, up 5% from before the assault. JET FUELSome airlines have already warned that rising fuel costs will drive up ticket prices or dampen future earnings. He said ticket prices could go up by a mid-single digit percentage ahead of Christmas.
Persons: Charles de, Benoit Tessier, James Halstead, You've, Michael O'Leary, it's, Neil Glynn, Alexander Irving, Bernstein, Agata Rybska, Natalie Grover, Josephine Mason, Mark Potter Organizations: Lufthansa Airbus, Charles de Gaulle International Airport, REUTERS, Air France, KLM, Lufthansa, Air, Brent, JET, Ryanair, Air Control, Thomson Locations: Charles de Gaulle, Roissy, Paris, Israel, Palestinian, Europe, Air France, Ukraine, Gdansk, London
Qantas overhaul gets stuck on tarmac
  + stars: | 2023-10-11 | by ( ) www.reuters.com   time to read: +2 min
Qantas Airways QF100 flight, which marks the airline's 100th birthday, departs from Sydney Airport to fly over Sydney Harbour in Australia, November 16, 2020. Gregg Porteous/Destination NSW/Handout via REUTERS Acquire Licensing RightsMELBOURNE, Oct 11 (Reuters Breakingviews) - Qantas Airways (QAN.AX) customers are already used to interminable waits due to postponed or cancelled flights and lost luggage. Now the $5.4 billion airline has shunted its much-needed governance overhaul into an unnecessary holding pattern. On Wednesday Qantas said Richard Goyder is stepping down after five years as chair along with two other directors who have been on the board for a decade. And Goyder intends to remain in the cockpit until just before the company’s annual meeting in over a year’s time.
Persons: Gregg Porteous, , Richard Goyder, Alan Joyce, Jaqueline Hey, Maxine Brenner, Goyder, Antony Currie, Una Galani, Thomas Shum Organizations: Qantas Airways QF100, Sydney Airport, Sydney Harbour, Handout, REUTERS Acquire, Rights, Reuters, Qantas Airways, Wednesday Qantas, Qantas, X, Alstom, Thomson Locations: Australia, Brussels
Birkenstock IPO gets predictable shoeing
  + stars: | 2023-10-11 | by ( ) www.reuters.com   time to read: +2 min
A sign is illuminated at the entrance to a Birkenstock shoe store in London, Britain, October 11, 2023. REUTERS/Toby Melville Acquire Licensing RightsNEW YORK, Oct 11 (Reuters Breakingviews) - Birkenstock’s (BIRK.N) IPO is a flop. The Birkenstock enterprise was gunning for a multiple of 19 times EBITDA, well above that of Europe's luxury conglomerates. And if the first-day stock woes stick, a suitor might soon walk all over Birkenstock. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Toby Melville, L, gunning, Oliver Reichert don’t, Bernard Arnault, Pamela Barbaglia, Jeffrey Goldfarb, Sharon Lam Organizations: REUTERS, Reuters, Tech, Compagnie Financiere, X, Qantas, Thomson Locations: London, Britain, United States, Europe, New York, Brussels
LVMH may have to settle for a more humdrum future
  + stars: | 2023-10-11 | by ( ) www.reuters.com   time to read: +2 min
The disappointing results knocked 6% off LVMH stock on Wednesday and dragged down rivals Richemont (CFR.S) and Kering (PRTP.PA) which also fell about 3%. That may compound investor worries about an overall slowdown of the company that’s behind Louis Vuitton and Christian Dior (DIOR.PA). And China’s economic slowdown and a possible U.S. recession make their future even more uncertain. LVMH is trading at 20 times its expected 2023 earnings after Wednesday's fall. If the less exuberant times keep rolling, LVMH may find itself settling for an even less luxurious valuation.
Persons: Richemont, Bernard Arnault’s, Louis Vuitton, Christian Dior, Karen Kwok, Aimee Donnellan, Streisand Neto Organizations: Reuters, UBS, Hermès, Reuters Graphics Reuters, Qantas, Thomson Locations: Asia, Japan, Brussels
Here are airlines that have temporarily halted flights to and from Israel:AFRICARoyal Air Maroc cancelled flights to and from Tel Aviv on Saturday and Sunday. On Sunday, United Airlines (UAL.O) and American Airlines (AAL.O) suspended direct flights to Tel Aviv. EUROPEAll airlines owned by Germany's Lufthansa (LHAG.DE), including Austrian Airlines, Swiss International Airlines and Brussels Airlines, cancelled flights to and from Tel Aviv through Saturday. Norwegian Air (NAS.OL) cancelled flights from Copenhagen and Stockholm to Tel Aviv and return flights through Sunday. Portugal's TAP suspended flights to and from Tel Aviv without providing a time frame.
Persons: Amir Cohen, Britain's, Vueling, Alessandro Parodi, Joao Manuel Mauricio, Milla Nissi, Bernadette Baum 私 Organizations: Gaza, REUTERS, AFRICA Royal Air Maroc, Delta Air Lines, Sunday, United Airlines, American Airlines, Tel Aviv . United, Air Canada, ASIA Hainan Airlines, Cathay, HK, Korean, Germany's Lufthansa, Austrian Airlines, Swiss International Airlines, Brussels Airlines, Saturday, Ryanair, Air France KLM, Norwegian, TAP, Sunday . British Airways, IAG, Air Europa, Italy's ITA, Aegean Airlines, Bulgaria Air, Air Malta, Virgin Atlantic, EAST Etihad Airways, . Gulf Air Locations: Sderot, Israel, Tel Aviv, AFRICA, ASIA, China, Beijing, Shanghai, Shenzhen, Hong Kong, Incheon, EUROPE, Europe's, France, Copenhagen, Stockholm, Hungarian, Iberia, Spanish, London Heathrow, Abu Dhabi, Gdansk
U.S. air carriers United Airlines (UAL.O) and American Airlines (AAL.O) suspended direct flights to Israel after the Federal Aviation Administration urged airlines to exercise caution. Many European airlines have also cancelled flights. Norwegian Air (NAS.OL) cancelled its flights from Copenhagen and Stockholm to Tel Aviv this week and Ryanair (RYA.I) cancelled flights through to Wednesday. Lufthansa (LHAG.DE), also among the airlines most exposed to Israel according to Goodbody, cancelled flights to and from Tel Aviv through Monday. Hainan Airlines (600221.SS), the only Chinese airline to fly between China and Israel, and other airlines flying from Hong Kong and South Korea cancelled flights to Tel Aviv.
Persons: We've, Matt Berna, Benjamin Netanyahu, Amir Cohen, Britain's, Goodbody, . Virgin Atlantic, IAG, Sharon Singleton, Rosalba O'Brien Organizations: Tel, United Airlines, American Airlines, Federal Aviation Administration, Delta Air Lines, El Al, Fighters, Tourism, Royal, Intrepid Travel, Regulators, FAA, European Union Aviation Safety Agency, Israeli, Ben Gurion International, REUTERS, Delta, Air, Portugal's TAP, Norwegian, Ryanair, Sunday, Wizz, Lufthansa, . Virgin, British Airways, Hainan Airlines, Reuters, Thomson Locations: Tel Aviv, Russia, Israel, Gaza, Israel's, Jerusalem, Americas, U.S, New York, Chicago, Washington, Miami, Lod, Europe, Air France, Copenhagen, Stockholm, Hungarian, China, Hong Kong, South Korea, Hainan, Beijing, Shenzhen, Cairo
On Sunday, U.S. air carriers United Airlines (UAL.O), Delta Air Lines (DAL.N) and American Airlines (AAL.O) suspended direct flights following the FAA's caution advisories. Britain's easyJet (EZJ.L) halted flights to Tel Aviv on Sunday and Monday, and said it would adjust the timings of flights over the next few days. Lufthansa (LHAG.DE) group, also among the airlines most exposed to Israel according to Goodbody, cancelled flights to and from Tel Aviv through Monday. Portugal's TAP suspended flights up until Monday and offered refunds or rescheduling at no additional cost. Hainan Airlines (600221.SS), the only Chinese airline to fly between China and Israel, and other airlines flying from Hong Kong and South Korea, cancelled flights between Tel Aviv and Shanghai on Monday.
Persons: Benjamin Netanyahu, Amir Cohen, Finland's, Britain's, Goodbody, Virgin Atlantic, IAG, Ben, Ben Gurion, Douglas Gillison, Sophie Yu, Farah Master, Joyce Lee, Brenda Goh, Tim Hepher, Ilona Wissenbach, Sergio Goncalves, Anna Ringstrom, Sarah Young, Joanna Plucinska, Clarence Fernandez, Bernadette Baum Organizations: Israeli, Ben Gurion International, REUTERS, El Al, Fighters, Tourism, Regulators, Federal Aviation Administration, European Union Aviation Safety Agency, Sunday, United Airlines, Delta Air Lines, American Airlines, Delta, Air, Wizz, Lufthansa, Portugal's TAP, Virgin, East . British Airways, Ryanair, flyDubai, Hainan Airlines, Thomson Locations: Lod, Israel, Tel Aviv, Gaza, Israel's, United States, U.S, New York, Chicago, Washington, DC, Miami, United, Europe, Air France, Hungarian, East, Ben Gurion, China, Hong Kong, South Korea, Shanghai, Beijing, Shenzhen, Lisbon, Stockholm, London
Airlines suspend Israel flights amid Gaza war
  + stars: | 2023-10-09 | by ( ) www.reuters.com   time to read: +2 min
Here are airlines that have temporarily halted flights to and from Israel:AMERICASOn Sunday, U.S. carriers United Airlines (UAL.O), Delta Air Lines (DAL.N) and American Airlines (AAL.O) suspended direct flights to Tel Aviv. ASIAHainan Airlines (600221.SS), the only Chinese airline to fly between China and Israel, cancelled flights between Tel Aviv and Shanghai on Monday. EUROPEAll airlines owned by Germany's Lufthansa (LHAG.DE) cancelled flights to and from Tel Aviv through Monday. Britain's easyjet (EZJ.L) halted flights with Tel Aviv on Sunday and Monday, and would adjust the timing of flights in the next few days. Portugal's TAP cancelled flights to and from Tel Aviv scheduled for Sunday and Monday.
Persons: Britain's, Finland's, Monday . Virgin Atlantic, Alessandro Parodi, Milla Nissi, Bernadette Baum Organizations: Israeli, El, Abu Dhabi International Airport, United, United Arab Emirates, Presidential Affairs, REUTERS, Sunday, United Airlines, Delta Air Lines, American Airlines, Tel Aviv . United, ASIA Hainan Airlines, . Cathay, HK, . Korean, Germany's Lufthansa, Air France KLM, Portugal's TAP, Iberia Express, Monday . Virgin, Etihad Airways, Thomson Locations: Abu Dhabi, United Arab, Handout, Tel Aviv, Israel, U.S, ASIA, China, Shanghai, Hong Kong, Incheon, EUROPE, Madrid, Gdansk
German voters send ominous message to Brussels
  + stars: | 2023-10-09 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Oct 9 (Reuters Breakingviews) - German Chancellor Olaf Scholz’s resounding defeat in key local elections on Sunday will be as traumatic in Brussels as in Berlin. Voters dealt a sharp blow to all three parties in Scholz’s centre-left executive. The victory of conservative opposition party CDU came together with a strong showing of far-right Alternative für Deutschland (AfD), who won 15% of the votes in the populous state of Bavaria and 18% in Hesse. In Berlin, divisions on the pace and cost of the green transition between the Green Party and the liberal FDP, whose leader Christian Lindner is the coalition’s finance minister, have already led to a watering down of a planned boiler ban from 2024. In Brussels, a German government preoccupied with its domestic travails may be unable to rally other member states around the sort of compromise proposals the EU needs to clinch some key deals.
Persons: Olaf Scholz’s, Christian Lindner, Scholz, Pierre Briancon, Sandoz, Lisa Jucca, Oliver Taslic Organizations: Reuters, Voters, Social Democrats, Greens, European Union, Green Party, X, Alstom, Brookfield, Thomson Locations: Brussels, Berlin, Scholz’s, Bavaria, Hesse, Germany, France, EU
Schaeffler auto deal has multiple value drivers
  + stars: | 2023-10-09 | by ( ) www.reuters.com   time to read: +2 min
The German share price index DAX graph is pictured at the stock exchange during the vitesco IPO in Frankfurt, Germany, September 16, 2021. REUTERS/Staff Acquire Licensing RightsLONDON, Oct 9 (Reuters Breakingviews) - Gearing up to take over an auto company on the eve of a recession might look risky. The merger will be done through a tender for the 50% of Vitesco’s stock not held by the family, then a merger with what's left. Cost synergies on top could be worth 3.5 billion euros in present value terms. As part of the merger, Schaeffler will adopt a more shareholder-friendly structure with equal voting rights.
Persons: what's, Schaeffler, Neil Unmack, Sandoz, George Hay, Streisand Neto Organizations: REUTERS, Staff, Reuters, Vitesco Technologies, X, Alstom, Thomson Locations: Frankfurt, Germany, China, Brussels
REUTERS/Amir Cohen/File Photo Acquire Licensing RightsOct 9 (Reuters) - Several international air carriers have suspended flight services with Tel Aviv in light of the Hamas militant attack on Israel, saying they were waiting for safety conditions to improve before resuming. Britain's easyjet (EZJ.L) said it had halted flights with Tel Aviv on Sunday and Monday, and would adjust the timings of flights in the next few days. Hainan Airlines (600221.SS), the only Chinese airline to fly between China and Israel, cancelled flights between Tel Aviv and Shanghai on Monday, citing the security situation in Israel. It said it would continue flights linking Beijing and the southern tech hub of Shenzhen with Tel Aviv while waiving fees for cancellations before Oct. 20. Korean Air (003490.KS) said it cancelled its Monday flight between the port city of Incheon and Tel Aviv and expects future flights to be irregular.
Persons: Benjamin Netanyahu, Amir Cohen, Finland's, United, Britain's, Douglas Gillison, Sophie Yu, Farah Master, Joyce Lee, Brenda Goh, Anna Ringstrom, Stockholm Sarah Young, Andrea Ricci, Clarence Fernandez Organizations: Israeli, Ben Gurion International, REUTERS, Fighters, Sunday, United Airlines, Delta Air Lines, American Airlines, Air, Delta, Hainan Airlines, Cathay, HK, Korean, Thomson Locations: Lod, Israel, Tel Aviv, Gaza, U.S, New York, Chicago, Washington, DC, Miami, United States, China, Shanghai, Beijing, Shenzhen, Hong Kong, KS, Incheon, Stockholm, London
Finnair is one daunting rights issue that can fly
  + stars: | 2023-10-06 | by ( ) www.reuters.com   time to read: +2 min
A Finnair Airbus A320-200 aircraft prepares to take off from Manchester Airport in Manchester, Britain September 4, 2018. REUTERS/Phil Noble/File Photo Acquire Licensing RightsLONDON, Oct 6 (Reuters Breakingviews) - Rights issues worth almost the value of a company’s equity rarely get off the ground. Tell that to 700 million euro Finnair (FIA1S.HE), which on Friday unveiled a 600 million euro rights issue. For one thing, the Finnish state owns over half of the Nordic airline and is supporting the rights issue. The government is offsetting the cost of the cash call by being partly refunded a 400 million euro capital loan it granted to the airline in the wake of the pandemic.
Persons: Phil Noble, Aimee Donnellan, Tesla, Sandoz, George Hay, Oliver Taslic Organizations: Airbus, Manchester Airport, REUTERS, Reuters, Nordic, SAS, X, Alstom, Brookfield, Thomson Locations: Manchester, Britain
Starting Monday, passengers flying on Korean Air may be asked to step on a scale before boarding their flight. Is it reasonable to weigh passengers? "Fuel is 20 times more than the passenger weight," he said. Where airlines weigh passengersAir New Zealand weighed passengers in June for reasons, it said, related to safety and fuel efficiency. Commercial airline seating is based on average passenger weight from the 1950s to 1970s, Hilderman said.
Persons: , Vance Hilderman, Shem Malmquist, Hilderman, we're, Jose Silva, Finnair, Nick Gausling, Gausling, Tigress Osborn, Jodi Jacobson Organizations: Korean, Korean Air, CNBC, Gimpo, Incheon Airport, Bombardier, Embraer, Aviation, Istock, Florida Tech's College of Aeronautics, Transport & Health, RMIT University's School of Engineering, U.S . Federal Aviation Administration, New Zealand, Hawaiian Air, Samoa Air, Reuters, Flyers, European Union Aviation Safety Agency, International Civil Aviation Organization, Romy Group, National Association Locations: Honolulu, American Samoa, United States, Europe
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