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☆ 'Internal battle' in Modi's BJP on whether India needs Chinese investments, Natixis chief Asia economist says
▼ + stars: | 2024-08-01 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +5 min

Supporters of Bharatiya Janata Party (BJP) hold party flags as they celebrate Narendra Modi's swearing-in ceremony on June 9, 2024. Sopa Images | Lightrocket | Getty ImagesThere is an "internal battle" happening within India's ruling Bharatiya Janata Party over inviting Chinese investments, as the country strives to become Asia's manufacturing powerhouse, Alicia Garcia-Herrero, chief Asia Pacific economist at Natixis said. This proposal was shot down by Trade Minister Piyush Goyal on Tuesday who said that there was "no rethinking at present" on allowing Chinese investments into India, Reuters reported. Experts told CNBC that Chinese investments are needed in India's solar panel and battery manufacturing sectors — two areas that a report, citing Indian government sources last week, mentioned could see easing restrictions on Chinese investments. India increased scrutiny on Chinese investments into the country, and also blocked several Chinese mobile apps including TikTok following the incident.

Persons: Narendra Modi's, Alicia Garcia, Herrero, Natixis, V Anantha, Piyush Goyal, Modi, Garcia, Rajesh Kumar Singh, Harsh, Pant, Tauseef Mustafa, Jaishankar, Punit Paranjpe Organizations: Bharatiya Janata Party, BJP, Asia, Trade, Reuters, CNBC, Department, Promotion of Industry, Internal, Bloomberg, ICT, Communication Technologies, New Delhi's Observer Research Foundation, Afp, Getty, India's Foreign, Adani Locations: Asia Pacific, China, India, Europe, loggerheads, Eastern Ladakh, Tokyo, U.S, Mundra

☆ Islamophobia and India’s election: Rising Hindu nationalism leaves Muslims fearful in India’s holy city
▼ + stars: | 2024-04-30 | by ( Rhea Mogul | Will Ripley | ) edition.cnn.com time to read: +18 min

Varanasi, India CNN —The sun glistens on the Ganges as Hindu devotees bathe in the holy river’s waters, and the Muslim call to prayer reverberates through the dusty air. The Gyanvapi mosque, left, and Kashiviswanath Temple on the banks of the river Ganges in Varanasi, India, December 12, 2021. He believes Gyanvapi is not a mosque, but a Hindu temple, and wants to see his community worship inside the walls of the building. Vishwambhar Nath Mishra, the priest of a prominent Hindu temple in Varanasi, believes Modi’s stoking of religious tensions is ruining the fabric of Indian society. This is my country.”Read more from CNN’s India election coverage:Billions spent, jungle-trekking poll workers and voting at 15,000 feet.

Persons: Narendra Modi’s, Modi, Varanasi John Mees, Sana Sabah, trepidation, “, Modi’s, Rajesh Kumar Singh, John Mees, Syed Mohammad Yaseen, ”, Hinduism John Mees, ’, Dileep Patel, inching, Nasir Ali, Ali, ‘ Jai Shree Sri Ram ’, Vijay Bedi, CNN Ali, Muzamil, Usman, it’s, Jai Shree Ram ”, Manish Swarup, Raja Singh, we’ll, Singh, –, Jaiveer Shergill, spokespeople, haven’t, Shamsher Ali, Emperor Aurangzeb, Lord Shiva, Kashi Vishwanath Temple, Pawan Kumar, ” Ali, Yaseen, ” Syed Mohammad Yaseen, turbocharge, ” Modi, Ram, Lucas Vallecillos, Swami Jitendranand Saraswati, Gyanvapi, Swami Saraswati, Amit Pandey, Vishwambhar Nath Mishra, ” Mishra, ” Read, Narendra Modi Organizations: India CNN, Bharatiya Janata Party, BJP, CNN, Rashtriya Swayamsevak Sangh, Modi, Bhajanpura Police, United Nations, Human Rights, ” CNN, Modi’s, Hate, AP BJP, T, Human Rights Watch, Amnesty International, International Federation for Human Rights, Reuters, Guards, “ Locations: Varanasi, India, Varanasi John, today’s India, “, Hinduism, Jammu, Kashmir, New Delhi, Delhi, Mustafabad, Rajasthan, Jaipur, Gujarat, Washington, BJP, Ali, Kashi, Gyanvapi, John, Ayodhya, Uttar Pradesh

☆ India 'confident' new EV policy measures will allow more foreign players to enter market
▼ + stars: | 2024-04-26 | by ( Sumathi Bala | ) www.cnbc.com time to read: +4 min

"It was meant for all global EV manufacturers and domestic manufacturers." While much of the "buzz has been around Tesla," Singh underscored the initiatives will also attract other foreign automakers, highlighting that Vietnam's leading EV maker "VinFast has already announced its intent." In February, VinFast broke ground on its integrated EV manufacturing facility in India's southern state of Tamil Nadu. As competition in India's EV sector remains limited, the entry of major players like Tesla, will level the playing field, MG Motor India's CEO Emeritus Rajeev Chaba told CNBC. Robust trajectoryAccording to Counterpoint Research, India's EV sales nearly doubled in 2023, driven by rising consumer interest and government initiatives, among other factors.

Persons: Rajesh Kumar Singh, CNBC's, Singh, VinFast, Elon Musk, Narendra Modi, Tesla, Rajeev Chaba, EVs, Modi, Ola, Bain Organizations: Department, Promotion, Industry, Internal, EV, CNBC's Sri, Motor, CNBC, Counterpoint Research, International Energy Agency, TVS Motor, Bajaj, Ampere, Bain & Company Locations: India, Tamil Nadu, China

☆ India confident global players will take advantage of new EV policy, says official
▼ + stars: | 2024-04-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndia confident global players will take advantage of new EV policy, says officialRajesh Kumar Singh, secretary at the Department of Promotion of Industry and Internal Trade, named companies such as Tesla and VinFast.

Persons: Rajesh Kumar Singh Organizations: India, Department, Promotion, Industry, Internal

☆ India's moment has arrived — but many hurdles remain
▼ + stars: | 2024-02-04 | by ( Spriha Srivastava | Polly Thompson | ) www.businessinsider.com time to read: +8 min

India's economy is expected to expand by 6.5% this year, according to IMF forecasts. The world's most populous nation was keen to talk up its prospects at the World Economic Forum in Davos. Advertisement"India has seized the moment," proclaimed housing minister Hardeep Singh Puri with confidence during a panel at the World Economic Forum in Davos last month. The 10-strong group of emerging market nations now accounts for 45% of the world's population and 28% of global GDP. AdvertisementSome economists have criticized the government's narrative as a "false growth story," highlighting discrepancies in the data and criticizing the methods used to calculate economic growth.

Persons: —, Hardeep Singh, Smriti Irani, BI's Spriha Srivastava, that's, Narendra Modi's, Cash, Modi, SAJJAD HUSSAIN, I've, Andy Baldwin, EY, Narendra Modi, Brazil's Luiz Inácio Lula da Silva, Dan Kitwood, Getty, ISRO Goldman Sachs, Ashoka Mody, Rajesh Kumar Singh, Vladimir Putin, Singh Organizations: Economic, Service, BI, IMF, Business, Apple, ISRO, Princeton University, World Bank, US, of, Hindustan Times, Harvard Business Locations: Davos, India, China, Japan, Brazil, China India, India's, Ukraine

☆ Photos: Ayodhya Ram Mandir temple inaugurated in consecration ceremony overseen by Modi
▼ + stars: | 2024-01-23 | by ( Rhea Mogul | ) edition.cnn.com time to read: +4 min

Crowds gather during the opening of a temple dedicated to Hindu deity Lord Ram, in Ayodhya, India, on January 22, 2024. Inside the sanctum sanctorum of the temple Monday, Modi presided over the Pran Pratishtha, or consecration ceremony, of an idol of Lord Ram, one of Hinduism’s most revered deities. Indian Prime Minister Narendra Modi plays a leading role in the ceremony consecrating a statue of the god Ram. “Today our Lord Ram has come. A man prays on the banks of Sarayu River on the occasion of Ram temple's consecration ceremony in Ayodhya on January 22, 2024.

Persons: Narendra Modi, Lord Ram, Rajesh Kumar Singh, –, Modi, Pran Pratishtha, Ram, Imtiyaz Khan, ” Modi, “ Ram, Money Sharma, Hinduism's Lord Ram, Amitabh Bachchan, Sachin Tendulkar, Mukesh Ambani, Anupam Kher, Beckham, ”, Ram Charan, Alia Bhatt, Ranbir Kapoor, Madhuri Dixit Nene, Katrina Kaif, Ayushmann Khurrana, Vicky Kaushal, Alia Bhatt Rajesh Kumar Singh Organizations: CNN, Indian, Anadolu, Getty Locations: Ayodhya, India, India's Uttar Pradesh, Sarayu, Babri

☆ Ayodhya temple: India’s Narenda Modi hails a new ‘divine India’ as he inaugurates Ram Mandir ahead of election
▼ + stars: | 2024-01-22 | by ( Helen Regan | Rhea Mogul | ) edition.cnn.com time to read: +11 min

By moving ahead of building the temple, now we all take the oath of building a national, capable, successful, beautiful, and divine India,” Modi said. His promise to build the Ram Mandir helped spur that initial election success. A devotee gets anoint the name of Lord Ram on his forehead ahead of the Inauguration of the Ram Mandir Temple on January 20, 2024 in Ayodhya, India. Ritesh Shukla/Getty Images“I have come here to seek blessings from Lord Ram and Sita, I am very happy today,” she said. “I have come here to seek blessing from Lord Ram, Modi has done so much,” he said.

Persons: Narendra Modi’s, Lord Ram –, Ram, ” Modi, “ Ram, Modi, Lord Ram, Rafiq Maqbool, Pran Pratishtha, Mohan Bhagwat, ”, Yogi Adityanath, Acharya Mohanjodaro Bharadwaj, Babar, Money Sharma, Maulana Badshah Khan, “, ” Khan, weaponizing, Modi “, Modi fasted, Rajesh Kumar Singh, Nilanjan Mukhopadhyay, Chandravanshi, Ritesh Shukla, Sita, Lal Singh Khushwa Organizations: CNN, “, Bharatiya Janata Party, BJP, Rashtriya Swayamsevak Sangh, Getty, Human Rights, AP, YouTube Locations: India, India’s Ayodhya, Babri, Ayodhya, Vedika, India's, Mumbai, Uttar Pradesh, New York, Square, South Asia, Sarayu, New India, US, Tamil Nadu, “, Chhattisgarh

☆ Ayodhya Ram Mandir: A decades long Hindu nationalist dream is about to be achieved. What does this mean?
▼ + stars: | 2024-01-19 | by ( Rhea Mogul | ) edition.cnn.com time to read: +8 min

Ahead of the event, Modi has been fasting and praying in an 11-day ritual steeped in Hindu religious symbolism. But many Hindus believe the Babri Masjid was built on the ruins of a Hindu temple, allegedly destroyed by Babar, the first Mughal emperor of South Asia. The site is significant to them because they believe it’s the birthplace of Lord Ram, now honored with the construction of the new Ram Mandir. Hindu nationalist groups had for years campaigned to demolish the mosque to build a temple in its place. Muslims pray for peace ahead of verdict on a disputed religious site in Ayodhya, inside a mosque premises in Ahmedabad, India, November 8, 2019.

Persons: Narendra Modi, Modi, Lord Ram, ”, ” Modi, Babar, Douglas E, Curran, “, Rajesh Kumar Singh, Amit Dave, “ Young, Asaduddin Owaisi, Sudhanshu Trivedi, Larsen, Toubro Organizations: CNN, country’s, Modi’s Bharatiya Janata Party, BJP, YouTube, India’s, AP, Rashtriya Swayamsevak Sangh, Indian National Congress Locations: Indian, Ayodhya, India, Babri, South Asia, Uttar Pradesh, Ahmedabad

☆ Southwest, pilots' union nearing preliminary labor deal - source
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +1 min

Southwest airline pilots approach to land at San Diego International airport in San Diego, California, U.S., May 18, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsDec 1 (Reuters) - Southwest Airlines (LUV.N) and its pilots' union were nearing a new labor deal ahead of the holiday season, a person familiar with the negotiations said on Friday. The company remains committed to reaching a deal that rewards its pilots and places them competitively in the industry, it added. Earlier this year, major carriers American Airlines, Delta, and United Airlines successfully reached agreements with their respective pilot unions. CNBC first reported that Southwest was nearing a new contract with the union.

Persons: Mike Blake, Pratyush Thakur, Rajesh Kumar Singh, Krishna Chandra Eluri, Arun Koyyur Organizations: San Diego International, REUTERS, Southwest Airlines, Southwest, Transport Workers Union Local, American Airlines, United Airlines, CNBC, Thomson Locations: San Diego , California, U.S, Delta, Bengaluru, Chicago

☆ Southwest, other US airlines face holiday travel test after 2022 blizzard
▼ + stars: | 2023-11-20 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +5 min

Southwest Airlines planes are show at San Diego International airport in San Diego, California, U.S., May 18, 2023. The chief operating officer of Southwest Airlines (LUV.N) found himself in the eye of a storm after a blizzard last December forced the company to cancel almost 17,000 flights, disrupting travel plans for about 2 million customers. With this week's U.S. Thanksgiving holiday kicking off the holiday travel season, Watterson can ill afford another fiasco. Airlines have taken measures to beef up winter operations including investments in weather forecast technology and de-icing equipment, and increased staffing and training. To make its winter operations more resilient, Watterson said Southwest invested in de-icing trucks and de-icing pads across its network.

Persons: Mike Blake, Andrew Watterson, Watterson, Constance von Muehlen, David Seymour, von Muehlen, Rajesh Kumar Singh, Doyinsola Oladipo, David Shepardson, Ben Klayman, Matthew Lewis Organizations: Southwest Airlines, San Diego International, REUTERS, Rights, Reuters, U.S . Transportation Department, Alaska Airlines, University of Washington, United Airlines, American Airlines, Federal Aviation Administration, FAA, U.S, Thomson Locations: San Diego , California, U.S, Dallas, Denver, Chicago, Southwest, Seattle, Alaska, Newark , New Jersey, Congress, New York, Washington

☆ Economics and nature square off in Dubai Airshow jet engine rift
▼ + stars: | 2023-11-17 | by ( Tim Hepher | ) www.reuters.com time to read: +5 min

The head of the world's largest international carrier was speaking in the midst of negotiations to buy dozens of Airbus A350-1000 jets powered by Rolls-Royce's XWB-97 engine, which have foundered for now over maintenance and pricing issues. I happen to be a service," Emirates President Tim Clark told reporters this week. INSURANCE-TYPE DEALSWhile the visible face of engine makers is technology, the way they generate much of their income resembles insurance. Rather than charge for repairs as they arise, engine makers increasingly strike long-term deals priced by the flight hour, agreeing to swallow the cost of planned and unexpected outages. To engine makers it means generating cash as soon as the engine enters service rather than waiting for shop visits.

Persons: Denis Balibouse, Tim Clark, Royce's, Larry Culp, Tufan Erginbilgic, Royce, Clark, Rolls, Nick Cunningham, Tim Hepher, Alexander Cornwell, Pesha Magid, Sarah Young, Rajesh Kumar Singh, David Evans Organizations: Boeing, Emirates, Cointrin Airport, REUTERS, Rights, Airlines, Royce, Airbus, GE Aerospace, Reuters, GE, Agency Partners, Thomson Locations: Cointrin, Geneva, Switzerland, Rights DUBAI, Dubai, India, Gulf

A rebound in Asia is especially important for airlines where long-haul travel makes up a bigger mix of revenue. Travel spending in Asia Pacific is set to grow 41% this year to $567 billion, and rise to $800 billion by 2027, according to data from the Global Business Travel Association. The planned capacity, which has not been previously reported, is a strong rebound from 2022, when the carrier's Asia-Pacific traffic was 33% of 2019 levels. Travel to Asia is also a source of high-margin revenue at a time when soaring labor and fuel costs are pressuring profit and domestic fares are declining. Across the border, Air Canada said the increase in Asia Pacific capacity would more than double its overall system growth.

Persons: Toby Melville, Andrew Nocella, Mark Galardo, Galardo, Raymond James, Savanthi Syth, Allison Lampert, Rajesh Kumar Singh, Ben Klayman, Matthew Lewis Organizations: Heathrow Airport, REUTERS, Rights, Carriers, Business, Global Business Travel Association, Air, Reuters, United Airlines, American Airlines, Delta Air Lines, Asia Pacific, United, Delta, Tourism Economics, Thomson Locations: London, Britain, Rights MONTREAL, CHICAGO, Asia, Pacific, Europe, Asia Pacific, U.S, United States, Atlanta, Manila, Philippines, San Francisco, New Zealand, Chicago, Air Canada, Air Canada's Vancouver, Canada, North America, Ukraine, Hong Kong, East Coast, Newark , New Jersey, Toronto, China, Montreal

A Boeing 737 MAX sits outside the hangar during a media tour of the Boeing 737 MAX at the Boeing plant in Renton, Washington December 8, 2015. "We're getting closer and closer," Watterson said of the certification work. However, delays in certification have forced Southwest to convert dozens of orders for 150-seater MAX 7 aircraft into the larger 175-seater MAX 8 variant. Both the MAX 7 and the largest model MAX 10 are waiting for the FAA's certification, with MAX 10 slated for its first delivery in 2024. "The fact that the number of open items is converging, not diverging like it was probably a year ago, shows that they're getting closer and closer," Watterson said.

Persons: Matt Mills McKnight, Andrew Watterson, Watterson, We're, Dave Calhoun, they're, Rajesh Kumar Singh, David Shepardson, Valerie Insinna, Diane Craft Organizations: Boeing, REUTERS, Rights, Southwest Airlines, U.S . Federal Aviation Administration, Reuters, FAA, Federal Aviation Administration, Airbus, Thomson Locations: Renton , Washington, Dallas, Southwest, Washington

REUTERS/Ammar Awad/ Acquire Licensing RightsNEW YORK/LONDON, Nov 6 (Reuters) - Travelers are canceling or postponing planned vacations to the Middle East and North Africa due to fears of the Israel-Hamas conflict worsening, and as touring companies have also altered itineraries and canceled flights. Travel operators say the war is affecting demand for travel to nearby nations including Egypt, Jordan and Turkey. German airline Group Lufthansa (LHAG.DE) said on Thursday their Middle East bookings have not been affected by the war, with only an initial dip when the conflict started. Spanish travel agency Essentialist said it has canceled 75% of trips to the extended Middle East and Northeast Africa region. The conflict's effect on travel demand to the Middle East may extend beyond the holidays and even just neighboring countries.

Persons: Ammar Awad, Israel, Todd Elliott, Konrad Waliszewski, Willie Walsh, Kathleen Oberg, Patrick Scholes, Essentialist, Matt Berna, Khaled Ibrahim, Doyinsola Oladipo, Joanna Plucińska, Rajesh Kumar Singh, Daniel Wallis Organizations: REUTERS, Cruise Line Holdings, Royal Caribbean Group, International Air Transport Association, Group Lufthansa, AS OMAN, Marriott, Intrepid Travel, Americas, East Travel Alliance, Thomson Locations: Damascus, Jerusalem's Old City, East, North Africa, Israel, Palestinian, Gaza, Egypt, Jordan, Turkey, Orlando , Florida, Israel . Washington, Cyprus, Lebanon, Valencia, Spain, Spanish, Northeast Africa, Australia, Norway, Sharm el Sheikh, Oman, UAE, New York, London, Chicago

☆ GE halves LEAP engine delivery growth target for 2024
▼ + stars: | 2023-10-24 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +2 min

In an interview, CEO Larry Culp said the company is aiming for a 20% to 25% year-on-year increase in the engine deliveries in 2024, lower than a revised 40% to 45% annual growth this year. Still, hitting the target will not be easy as it requires quarter-on-quarter improvements in the supply chain, he said. LEAP engines, which GE produces in a joint venture with France's Safran (SAF.PA), power the narrowbody aircraft of Boeing Co (BA.N) and Airbus (AIR.PA). It forced GE to trim the delivery growth target for LEAP engines this year by at least 5 percentage points and push out some of the deliveries into 2024 and 2025. But the demand for both aftermarket services and new engine deliveries is so strong that GE and its suppliers need to do more, Culp said.

Persons: Larry Culp mingles, Alwyn Scott, Larry Culp, France's Safran, delinquencies, Pratt, Culp, airframers, " Culp, Rajesh Kumar Singh, Jonathan Oatis Organizations: Electric Co, REUTERS, Rights, General, Reuters, GE, Boeing Co, Airbus, Boeing, Thomson Locations: Tarrytown , New York, U.S

GE shares were up 6% at $113.14 in pre-market hours. The Boston-based group now expects 2023 adjusted profit per share of $2.55 to $2.65, compared with an earlier forecast of $2.10 to $2.30. "At GE Aerospace, we continue to experience rapid growth driven by robust demand and solid execution, largely in commercial engines and services," CEO Larry Culp said in a statement. GE's aerospace unit, which makes engines for Boeing Co (BA.N) and Airbus (AIR.PA) jets, posted double-digit growth in orders, revenue and profit from a year earlier. Shares of its aerospace unit will continue GE's listing on the New York Stock Exchange under the ticker symbol "GE", the company said.

Persons: Benoit Tessier, Larry Culp, RTX, Pratt, Whitney, Culp, Rajesh Kumar Singh, Sriraj Kalluvila, Jason Neely, Jan Harvey Organizations: Electric, GE, Boeing, Paris, REUTERS, General, GE Aerospace, Boeing Co, Airbus, New York Stock Exchange, AerCap Holdings, Thomson Locations: Le Bourget, Paris, France, Boston, Chicago, Bengaluru

☆ Spirit Airlines cancels flights to perform 'necessary' inspection of aircraft
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +1 min

A logo of low cost carrier Spirit Airlines is pictured on an Airbus plane in Colomiers near Toulouse, France, November 6, 2018. REUTERS/Regis Duvignau Acquire Licensing RightsCHICAGO, Oct 20 (Reuters) - Spirit Airlines (SAVE.N) on Friday said it has canceled a portion of its scheduled flights to perform a "necessary" inspection of a small section" of 25 planes. The ultra-low-cost carrier did not provide details of the inspections. "We apologize for the inconvenience and are working to take care of affected guests," Spirit said in a statement. Data from flight-tracking website FlightAware shows that the airline had canceled 11% of its flights on Friday.

Persons: Regis Duvignau, Rajesh Kumar Singh, Leslie Adler Organizations: Spirit Airlines, Airbus, REUTERS, Rights, Thomson Locations: Colomiers, Toulouse, France

☆ US airline investors worry the travel boom may be coming in for a landing
▼ + stars: | 2023-10-18 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +4 min

Those concerns are battering airline stocks even as earnings reports point to a continuing consumer appetite for travel. While both United and Delta said travel demand is holding up, double-digit declines in airfares year-over-year suggest airline pricing power has peaked. United, which has not forecast profit for 2024, on Tuesday similarly said travel demand remains "strong and steady." New labor contracts as well as the higher fuel prices mean cost pressures aren't going away. American Airlines (AAL.O) and Alaska Air (ALK.N), who will report earnings Thursday, have cut their third-quarter profit estimates due to higher fuel costs.

Persons: Eduardo Munoz, Brian Mulberry, Delta, Ed Bastian, Mulberry, United, Michael Leskinen, Conor Cunningham, Rajesh Kumar Singh, Ben Klayman, Rod Nickel Organizations: United Airlines, Newark Liberty International Airport, REUTERS, Rights, NYSE, Zacks Investment Management, Delta Air Lines, United, Delta, New, American Airlines, Alaska Air, Melius, Thomson Locations: York, Newark , New Jersey, U.S, Chicago, United, Israel, Tel Aviv

☆ United Airlines forecasts weaker Q4 profit on higher costs
▼ + stars: | 2023-10-17 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +2 min

[1/2] The One World trace Center and the New York skyline are seen while United Airlines planes use the tarmac at Newark Liberty International Airport in Newark, New Jersey, U.S., May 12, 2023. REUTERS/Eduardo Munoz/File Photo Acquire Licensing RightsCHICAGO, Oct 17 (Reuters) - United Airlines Holdings (UAL.O) on Tuesday reported stronger-than-expected third-quarter earnings, but forecast weaker profit in the current quarter due to higher costs. For the third quarter, it reported an adjusted profit of $3.65 per share, compared with the $3.35 estimated by Wall Street analysts. United has said its fuel costs have climbed over 20% since mid-July. United will discuss the results on a call with analysts and investors on Wednesday morning.

Persons: Eduardo Munoz, Rajesh Kumar Singh, Richard Chang Organizations: United Airlines, Newark Liberty International Airport, REUTERS, Rights, United Airlines Holdings, Wall Street, Delta Air Lines, Thomson Locations: York, Newark , New Jersey, U.S, Chicago, Israel

☆ United Airlines forecasts weaker quarterly profit on higher costs
▼ + stars: | 2023-10-17 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +3 min

REUTERS/Eduardo Munoz/File Photo Acquire Licensing RightsCHICAGO, Oct 17 (Reuters) - United Airlines Holdings (UAL.O) on Tuesday forecast weaker fourth-quarter earnings due to higher costs, sending its shares down more than 4%. United has said its fuel costs have climbed over 20% since mid-July. The company's average fuel bill is projected to increase by 11% in the quarter through December from the last quarter. In the December quarter, Israel accounted for 1.9% of its planned global capacity, a Reuters analysis of Cirium data showed. Adjusted profit for the third quarter came in at $3.65 per share, higher than the $3.35 estimated by Wall Street analysts.

Persons: Eduardo Munoz, Rajesh Kumar Singh, Richard Chang Organizations: United Airlines, Newark Liberty International Airport, REUTERS, Rights, United Airlines Holdings, U.S, Delta Air Lines, Wall Street, Thomson Locations: York, Newark , New Jersey, U.S, Chicago, Israel, Tel Aviv

☆ Delta's quarterly profit tops estimates on booming international travel
▼ + stars: | 2023-10-12 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +3 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsCHICAGO, Oct 12 (Reuters) - Delta Air Lines (DAL.N) on Thursday reported stronger-than-expected quarterly profit on strong international travel, but trimmed its full-year outlook due to higher fuel costs. In an interview, he said the demand for Delta's products remain "high" as its customers are in "a very healthy condition." Delta now expects adjusted earnings of $6 to $6.25 per share this year, compared with $6 to $7 per share estimated in July. In the December quarter, the airline expects adjusted earnings in the range of $1.05 to $1.30 per share. Ultra-low-cost carrier Spirit Airlines (SAVE.N) last month cut its profit outlook for the third quarter, citing "heightened promotional activity with steep discounting."

Persons: John F, Andrew Kelly, Ed Bastian, Delta, Stephen Trent, Hopper, airfare, Bastian, Rajesh Kumar Singh, Mehr Bedi, Jamie Freed, Arun Koyyur, Nick Zieminski Organizations: Delta Air Lines, Kennedy International Airport, REUTERS, Rights, Delta, U.S, Wall Street, Citi Research, Spirit Airlines, Frontier Airlines, Thomson Locations: Queens , New York City, U.S

STOCKHOLM/AMSTERDAM, Oct 12 (Reuters) - Airlines wrestled with the safety risk of evacuation operations in Israel on Thursday, with carriers including Dutch KLM cancelling flights while sister airline Air France mounted a special relief flight chartered by the French foreign ministry. Israel's parliamentary finance committee meanwhile approved a plan to provide a state guarantee of $6 billion to cover insurance against war risks to Israeli airlines. The framework will grant Israeli airlines cover against war risks, thereby ensuring the continuity of air operations. Foreign airlines have struggled to find a common approach and the head of European budget giant Ryanair (RYA.I) said it was up to governments to plot the way forward. PATCHY RESPONSEGermany's Lufthansa (LHAG.DE) said it was sticking to its plans for evacuation flights on Thursday and Friday, while continuing to ground commercial flights to Israel.

Persons: Ben Gurion, Ben Smith, Ed Bastian, Sasha Gainullin, Rafael Schvartzman, Obama, Anna Ringstrom, Bart H, Meijer, Tim Hepher, Joanna Plucinska, Julia Payne, Carolyn Cohn, Steven Scheer, Rajesh Kumar Singh, Doyinsola, Terje Solsvik, Deborah Kyvrikosaios, Diane Craft Organizations: Airlines, Dutch KLM, Air France, Palestinian, Israel's, Norwegian Air, Insurance, Reuters, Foreign, Ryanair, KLM, Boeing, Lufthansa, Dubai's Emirates, Delta Air Lines, International Air Transport Association, Regulators, U.S . Federal Aviation Administration, Thomson Locations: STOCKHOLM, AMSTERDAM, Israel, Palestinian, Tel Aviv's, Ben, Gaza, Tel Aviv, Eilat, Emirates, United States, Europe, U.S, Ben Gurion

A United Airlines Airbus A319-100 jet takes off from Washington National Airport in Washington, U.S., August 9, 2017. The latest order is the second major aircraft purchase by United over the past year. In December, it unveiled a huge order of 100 Boeing 787 Dreamliners and 100 737 MAXs. The large 787 order is likely to raise further questions about the future of outstanding United orders for 45 Airbus A350s which have already been deferred to at least 2030. Nocella said while A350 is a "great machine" and there is no change in the company's order, United is focused on its 787 fleet in the short-run.

Persons: Joshua Roberts, Andrew Nocella, Nocella, It's, Valerie Insinna, Rajesh Kumar Singh, Mehr Bedi, Tim Hepher, David Shepardson, Shounak Dasgupta, William Maclean, Bernadette Baum, David Gregorio, Aurora Ellis Organizations: United Airlines Airbus, Washington National Airport, REUTERS, United Airlines, Tuesday, Boeing, Airbus, Reuters, Air Canada, Air France, KLM, U.S, United, Thomson Locations: Washington , U.S, Chicago, United, North America, U.S, Washington, Bengaluru

☆ Travel boom not enough to drive profits at US budget airlines Frontier, Spirit
▼ + stars: | 2023-09-21 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +5 min

REUTERS/Alyssa Pointer/File Photo Acquire Licensing RightsCHICAGO, Sept 21 (Reuters) - Travel boom has delivered bumper earnings for U.S. carriers, but no-frills airlines such as Frontier (ULCC.O) and Spirit (SAVE.N) are struggling to return to sustainable profitability. Frontier is watching the trend "very carefully" and would consider adding premium seats if it lasts for multiple years, he said. Frontier's Biffle called adding premium seats a "big decision" and a "fairly expensive" move. Spirit shares are down 18%. PRICE-SENSITIVE TRAVELERSCEOs of budget carriers, however, don't see the model losing its appeal as long as fares determine travel bookings.

Persons: Alyssa Pointer, Barry Biffle, Biffle, Jude Bricker, Bricker, Frontier's Biffle, Andrew Levy, Scott Kirby, Helane Becker, Cowen, Jacob Brown, Brown, Rajesh Kumar Singh, Nick Zieminski Organizations: Hartsfield, Jackson Atlanta International Airport, REUTERS, Rights, Graphics, Frontier, Reuters, Sun, Privately, Avelo Airlines, United, Delta, United Airlines, Airlines, America, Thomson Locations: Atlanta , Georgia, U.S, Europe, Asia, , Minneapolis, Denver

While a civil suit lodged against KLM (AIRF.PA) in the Netherlands is one of the most prominent, complaints and cases against other airlines have been mounting. Lockwood said the ASA would use machine learning tools to scan online advertising to catch potentially misleading wording. Separately, the Austrian advertising watchdog told Lufthansa's Austrian Airlines arm last year to stop making claims about a carbon neutral flight using biofuel. The lawsuit alleges that carbon offset programmes don't work as advertised and the company misled consumers. The company is investing in newer planes and sustainable fuel to "decarbonise" its operations, the person added.

Persons: Miles Lockwood, Lockwood, Joanna Plucinska, Mark Potter Organizations: KLM Airlines, Fossielvrij, Dutch, KLM, Airlines, Ryanair, Lufthansa, Etihad, Standards Authority, ASA, Reuters, Lufthansa Group, Austrian Airlines, Delta Air Lines, Delta, Thomson Locations: Netherlands, Amsterdam, Austrian, Los Angeles

Search resuls for: "Rajesh Kumar Singh"

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