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LATAM Airlines sees stronger 2023 after Q2 results boost
  + stars: | 2023-08-03 | by ( ) www.reuters.com   time to read: +3 min
A Latam Airlines airplane is seen at Guarulhos International Airport amid the outbreak of the coronavirus disease (COVID-19), in Guarulhos, near Sao Paulo, Brazil, May 19, 2020. REUTERS/Amanda PerobelliSANTIAGO, Aug 2 (Reuters) - LATAM Airlines expects "record" net earnings in 2023 after posting stronger second-quarter results and improved forecasts, company executives said on Wednesday, hoping to bolster investor confidence after the company's exit from bankruptcy in November. "Without a doubt we are foreseeing a much better financial situation and very good profitability in 2023," he told reporters. Alfonsin added that the company was expecting to hit pre-pandemic level results for the year and record EBITDAR. LATAM Airlines, South America's largest airline, operates units across the continent, with routes across the world.
Persons: Amanda Perobelli SANTIAGO, Ramiro Alfonsin, Alfonsin, Fabian Cambero, Gabriel Araujo, Isabel Woodford, Valentine Hilaire, Gerry Doyle Organizations: Latam Airlines, Guarulhos, REUTERS, LATAM Airlines, South America's, Chilean, LAN, Brazilian, TAM, U.S . Department of Transportation, U.S, Thomson Locations: Guarulhos, Sao Paulo, Brazil, Santiago, South
July 21 (Reuters) - The state of New Jersey sued the Biden administration on Friday seeking to block New York City's congestion pricing plan. Last month, the plan cleared a major roadblock when the U.S. Department of Transportation's Federal Highway Administration (FHWA) said the city had adequately assessed how the congestion charge would help the environment. New York City, which has the most congested traffic of any U.S. city, would become the first major city in the U.S. to follow London, which implemented a similar charge in 2003. New York lawmakers approved the plan in 2019 to provide funding to improve mass transit by using tolls to manage traffic in central Manhattan. The toll would generate $1 billion to $1.5 billion a year and support $15 billion in debt financing for mass transit improvement.
Persons: Biden, Donald Trump, David Shepardson, Angus MacSwan Organizations: U.S . Department of, Administration, FHWA, . New, Thomson Locations: New Jersey, York, Jerseyans, Midtown Manhattan, . New York City, U.S, London, ., . New York, Manhattan
Reuters is revealing details of the Diego Garcia project and SubCom’s deepening ties with the Pentagon. SubCom’s loyalty is especially important because it is the only major U.S. subsea cable company. Rather, they carefully obscured the U.S. military component within a larger private-sector cable project, according to four subsea cable industry sources with knowledge of the arrangement. That project, known as the Oman Australia Cable, was spearheaded by SUBCO, a Brisbane-based subsea cable investment company owned by Australian entrepreneur Bevan Slattery. Once the Navy project was complete, AT&T’s submarine cable project morphed into a commercial business, the former employees said.
Persons: Diego Garcia, SubCom, Cerberus, Stephen Feinberg, Donald Trump, Feinberg, Joe Biden, Biden, Eckhard Bruckschen, They’ve, ” Bruckschen, Trump, Brad Smith, , Mao Ning, , Jacob Helberg, Bevan Slattery, SUBCO’s, Richard Payne, Payne, “ We’re, ” Payne, Alex Kerska, Catherine Creese, Creese, David Coughlan, Coughlan, Slattery, SubCom’s Coughlan, Rich, Australia West Express –, John Mariano, Anthony Albanese, Albanese, Caesar, Kellee Wicker, ” Wicker Organizations: CS, SubCom, Google, Microsoft, Meta, ., U.S, Navy, Cerberus Capital Management, U.S . Navy, President’s Intelligence, Board, U.S . Navy’s Pacific Fleet, U.S . Pacific Fleet, U.S ., Pentagon, America Inc, Cable Consultancy, Reuters, Japan’s NEC Corporation, France’s Alcatel Submarine Networks, China’s HMN, U.S . Department of Defense, White, U.S . Department of Justice, Foreign, Oracle, China Economic, Security, Commission, U.S . Department of Transportation, Department of Defense, government’s, Cable Security Fleet, Oman Australia Cable, SUBCO, The, The U.S . Pacific Fleet, SUBCO’s Oman Australia Cable, Facebook, Defense, Intelligence, SubCom’s, London Stock Exchange Group, U.S . Coast Guard, Naval, Cable, Office, Tyco Telecommunications, Australian, Financial, Australia West Express, GoTo Networks, couldn’t, Netflix, AT, Tyco International, Tyco, New, Washington, Science, Technology, Wilson, “ Cables Locations: Diego, Indian, China, New Jersey, United States, U.S, Soviet, Washington, New York, Philippine, South China, Beijing, America, American, Hong Kong, Switzerland, Eatontown , New Jersey, British, Britain, Australian, Australia, Oman, Brisbane, Southeast Asia, The U.S, SUBCO’s Oman, Perth, SubCom, Guam, U.S . Pacific, Republic of Djibouti, of Africa, Djibouti, Sri Lanka, Scotland, Newfoundland
Reuters is revealing details of the Diego Garcia project and SubCom’s deepening ties with the Pentagon. SubCom’s loyalty is especially important because it is the only major U.S. subsea cable company. Rather, they carefully obscured the U.S. military component within a larger private-sector cable project, according to four subsea cable industry sources with knowledge of the arrangement. That project, known as the Oman Australia Cable, was spearheaded by SUBCO, a Brisbane-based subsea cable investment company owned by Australian entrepreneur Bevan Slattery. Once the Navy project was complete, AT&T’s submarine cable project morphed into a commercial business, the former employees said.
Persons: Diego Garcia, SubCom, Cerberus, Stephen Feinberg, Donald Trump, Feinberg, Joe Biden, Biden, Eckhard Bruckschen, They’ve, ” Bruckschen, Trump, Brad Smith, , Mao Ning, , Jacob Helberg, Bevan Slattery, SUBCO’s, Richard Payne, Payne, “ We're, ” Payne, Alex Kerska, Catherine Creese, Creese, David Coughlan, Coughlan, Slattery, SubCom’s Coughlan, Rich, Australia West Express –, John Mariano, Anthony Albanese, Albanese, Caesar, Kellee Wicker, ” Wicker, Joe Brock, Mohammad Kawoosa, Edgar Su, Catherine Tai Design, Eve Watling, Marla Dickerson Organizations: CS, SubCom, Google, Microsoft, Meta, ., U.S, Navy, Cerberus Capital Management, U.S . Navy, President’s Intelligence, Board, U.S . Navy’s Pacific Fleet, U.S . Pacific Fleet, U.S ., Pentagon, America Inc, Cable Consultancy, Reuters, Japan’s NEC Corporation, France’s Alcatel Submarine Networks, China’s HMN, U.S . Department of Defense, White, U.S . Department of Justice, Foreign, Oracle, China Economic, Security, Commission, U.S . Department of Transportation, Department of Defense, government’s, Cable Security Fleet, Oman Australia Cable, SUBCO, The, The U.S . Pacific Fleet, SUBCO’s Oman Australia Cable, Facebook, Defense, Intelligence, SubCom’s, London Stock Exchange Group, U.S . Coast Guard, Naval, Cable, Office, Tyco Telecommunications, Australian, Financial, Australia West Express, GoTo Networks, couldn’t, Netflix, AT, Tyco International, Tyco, New, Washington, Science, Technology, Wilson, “ Cables Locations: Diego, Indian, China, New Jersey, United States, U.S, Soviet, Washington, New York, Philippine, South China, Beijing, America, American, Hong Kong, Switzerland, Eatontown , New Jersey, British, Britain, Australian, Australia, Oman, Brisbane, Southeast Asia, The U.S, SUBCO’s Oman, Perth, SubCom, Guam, U.S . Pacific, Republic of Djibouti, of Africa, Djibouti, Sri Lanka, Scotland, Newfoundland
San Francisco, July 3 (Reuters) - Kentucky is requiring that electric vehicle charging companies include Tesla's plug if they want to be part of a state program to electrify highways using federal dollars, according to documents reviewed by Reuters. Kentucky's plan went into effect on Friday, making it the first state to mandate Tesla's charging technology, although Texas and Washington states previously shared such plans with Reuters. In addition to federal requirements for the rival Combined Charging System (CCS), Kentucky mandates Tesla's plug, called the North American Charging Standard (NACS), at charging stations, according to Kentucky's request for proposal (RFP) for the state's EV charging program on Friday. Each port shall also be capable of connecting to and charging vehicles equipped with charging ports compliant with the North American Charging Standard (NACS)," the documents say. It added that the rule allows charging stations to have other connectors, as long as they support CCS, a national standard.
Persons: Kentucky's, Tesla, Hyunjoo Jin, Mark Porter, Leslie Adler, Conor Humphries Organizations: Reuters, American, EV, SAE CCS, Ford, Texas Transportation Commission, U.S . Department of Transportation, CCS, Electric Vehicle Infrastructure, Thomson Locations: San Francisco, Kentucky, Texas, Washington, United States
Over 2.8 million travelers are expected to pass through airport security checkpoints on Friday — a single-day record, according to the Transportation Security Administration. This comes as severe storms and staffing shortages have already derailed thousands of flights this week. Federal law doesn't require airlines to pay compensation to passengers for delays, Palmer said. The U.S. Department of Transportation's Airline Customer Service Dashboard outlines passenger rights for specific airlines. Even if a delay isn't their fault, many airlines will transfer your ticket to another airline's flight with available seats at no additional cost — if you ask, according to the U.S. PIRG Education Fund.
Persons: Andrew Bret Wallis, Pete Buttigieg, Kimberly Palmer, Palmer, Murray Organizations: DigitalVision, Transportation Security Administration, TSA, U.S, U.S . Department of Transportation's, PIRG
After New York City was cleared late last week to move forward with a congestion pricing plan, Gov. Kathy Hochul on Tuesday said the largest U.S. city is leading the way to "achieve cleaner air, safer streets and better transit." "We are going to be the very first state in the nation, the very first city in America, to have a congestion pricing plan," Hochul said in a press conference Tuesday. While it's a new model for the U.S., congestion pricing plans have previously been implemented in London, Stockholm and Singapore. A six-member Traffic Mobility Review Board is tasked with determining the specific pricing structure.
Persons: Kathy Hochul, Hochul Organizations: New, Federal Highway Administration, U.S . Department of Transportation, New York's Metropolitan Transportation Authority Locations: New York City, U.S, New York, Manhattan, New, America, London, Stockholm, Singapore
June 26 (Reuters) - A New York City plan to charge a daily toll on vehicles entering or remaining in the central business district got a boost on Monday from the U.S. Department of Transportation, which said the city had adequately assessed how the congestion charge would help the environment. Menendez has introduced legislation that would cut 50% of federal highway grant funding to New York state if the plan goes ahead. In May, USDOT approved release of the final environmental assessment for New York's congestion pricing plan for public review. Following entry into a tolling agreement, tolling could begin up to 310 days later, the city said in May. New York City, which has the most congested traffic of any U.S. city, would become the first major city in the U.S. to follow London, which implemented a similar charge in 2003.
Persons: Bob Menendez, Josh Gottheimer, Bill Pascrell, Menendez, USDOT, Donald Trump, David Shepardson, Mark Porter, Matthew Lewis Organizations: U.S . Department of Transportation, Administration, Democratic, York Metropolitan Transportation Authority, . New, Thomson Locations: York City, U.S, New Jersey, New York, Midtown Manhattan, . New York City, London, ., . New York, Manhattan, Washington
Those announcements follow decisions by GM (GM.N) and Ford (F.N) to add Tesla charging technology, shunning efforts by the Biden administration to make CCS the dominant charging standard in the United States. Texas - home to Tesla's headquarters and a new car factory complex - is the first state which will mandate Tesla's charging technology, giving a boost to CEO Elon Musk's hope of making it the national charging standard. "It’ll effectively make an NACS the new charging standard," Cox said. The move was to prevent Tesla's North America Charging Standard from dominating the network. And at least one other state is considering giving applicants bonus points on applications if they include the Tesla charging ports.
Persons: Rivian, Tesla, Biden, Elon Musk's, Lew Cox, It’ll, Cox, Jarrett Renshaw, Hyunjoo Jin, Abhirup Roy, Lisa Shumaker Organizations: Reuters, BTC, GM, Ford, CCS, Texas Department of Transportation, U.S . Department of Transportation, Tesla's, Thomson Locations: Texas, United States . Texas, California , Iowa, Michigan, U.S, Philadelphia, San Francisco
About a third (31%) of U.S. auto insurance customers say they experienced a rate increase during the past year, according to a recent study by J.D. Many factors have conspired to push up the cost of car repairs, which ultimately feeds through to insurance prices, economists said. "The pandemic has been really disruptive to the auto repair business," he said. Auto insurers lost 12 cents on each dollar of customer premiums paid in 2022, on average, according to J.D. Vehicle prices moderate after pandemic-era surgeFurther, vehicle prices began rising at a rapid clip in the first half of 2021.
Persons: Mark Zandi, Power, Zandi, Charlie Chesbrough, Chesbrough Organizations: Moody's, U.S . Department of Transportation, Auto, Cox Automotive, U.S . Federal Reserve Locations: ., U.S
WASHINGTON, June 13 (Reuters) - Transportation Secretary Pete Buttigieg on Tuesday pledged federal support for rebuilding a major U.S. highway after a portion collapsed in Philadelphia over the weekend, snarling traffic and upending commutes. The head of the Federal Highway Administration was at the site on Monday as the U.S. National Transportation Safety Board investigates. Officials have said that it could take several months to rebuild the collapsed portion of the north-south highway, which runs from Miami to the Canadian border in Maine. Excavation teams worked to clear the site on Monday, with authorities eyeing Tuesday as a test of traffic workarounds. Reporting by David Shepardson and Susan Heavey; Editing by Chizu Nomiyama and Mark PorterOur Standards: The Thomson Reuters Trust Principles.
Persons: Pete Buttigieg, Buttigieg, David Shepardson, Susan Heavey, Chizu Nomiyama, Mark Porter Organizations: Transportation, Pennsylvania, Philadelphia's, U.S . Department of Transportation, Federal, Administration, U.S . National Transportation, Thomson Locations: U.S, Philadelphia, Coast, Miami, Maine
Previously, the only regular direct flights by Chinese carriers between mainland China and New York since the pandemic were from Shanghai and Guangzhou. Flights of Air China are parked on the tarmac of Beijing Capital International Airport in Beijing, China, March 28, 2016. watch nowIn March, Delta announced it resumed direct flights between the U.S. and China — from Shanghai to Seattle and Detroit. Overall, mainland China's international flights remains below 40% of 2019 levels, the Nomura report said. The analysts expect that level to pick up to 70% by the end of the year as international flights recover around the summer holiday season.
Persons: Nomura, Ting Lu, Kim Kyung Hoon Organizations: China, U.S, Air, U.S . Department of Transportation, Beijing Capital International Airport, Reuters, American Airlines, Delta Locations: BEIJING, U.S, China, Egypt, Saudi Arabia, Italy, Variflight, Middle East, Iran, Beijing, Ukraine, Air China, New York, Shanghai, Guangzhou, Los Angeles, Delta, United, Seattle, Detroit
Neuralink, the neurotech startup co-founded by Elon Musk, announced Thursday it has received approval from the Food and Drug Administration to conduct its first in-human clinical study. A BCI is a system that deciphers brain signals and translates them into commands for external technologies. But receiving FDA approval for a commercial medical device is no small task — it requires companies to successfully conduct several extremely thorough rounds of testing and data safety collection. But by receiving the go-ahead for a study with human patients, Neuralink is one step closer to market. The FDA's approval for an in-human study is a significant win for Neuralink after a series of recent hurdles at the company.
REUTERS/Dado Ruvic/Illustration/File PhotoWASHINGTON, May 12 (Reuters) - U.S. lawmakers will ask regulators to investigate whether the make-up of a panel overseeing animal testing at Elon Musk's brain-chip startup Neuralink contributed to botched and rushed experiments. The lawmakers have shared the draft with peers to gather more signatures and plan to send it to the USDA on Monday. A spokesperson for Blumenauer said the USDA did not respond to an earlier request from lawmakers for a probe into Neuralink in the wake of that story. Musk and Neuralink representatives, and spokespeople for the USDA and the agency’s inspector general, did not respond to requests for comment. The Inspector General and the USDA did not respond to a request for comment on the progress of that investigation.
According to data from the U.S. Department of Transportation, around 20 percent of flights were delayed last year. President Biden and the transportation secretary, Pete Buttigieg, announced a proposed new rule on Monday to compensate passengers affected by carrier-caused slowdowns. Under the proposal, airlines would be required to cover certain expenses for passengers as well as pay them for the inconvenience of flight delays and cancellations. “I know how frustrated many of you are with the service you get from your U.S. airlines,” Mr. Biden said during the announcement at the White House. Additionally, inconvenienced fliers would be entitled to a payment in the form of cash, miles or travel vouchers.
The U.S. Department of Transportation did not specify how much cash it aims to require airlines to pay passengers for significant delays. But it asked carriers last year whether they would agree to pay at least $100 for delays of at least three hours caused by airlines. A July 2021 proposal to require airlines to refund consumers fees for baggage that is delayed, or onboard service like Wi-Fi that do not work, are still not finalized. The Transportation Department said it plans to write regulations that will require airlines to cover expenses such as meals and hotels if carriers are responsible for stranding passengers. In October, Reuters first reported major U.S. airlines opposed Transportation Department plans to update its dashboard to show whether carriers would voluntarily compensate passengers for lengthy delays within airlines' control.
Kids in Hammond, Indiana, are forced to climb over and through stopped trains block their way to school. Jamie Kelter Davis for ProPublicaState lawmakers have tried to curb blocked crossings by restricting the lengths of trains. Spielmaker, the Norfolk Southern spokesperson, said: "We work with first responders on a daily basis to assist however we can. A favorable court opinion could allow other states to finally enforce their laws on blocked crossings. Among those who hope to voice their concerns about the blocked crossings are rail workers themselves who worry about the kids.
WASHINGTON, April 26 (Reuters) - The U.S. Department of Transportation (DOT) on Wednesday said a Republican budget cut proposal would shut down 375 federally-staffed and contract-run air traffic control towers around the country and result in 7,500 fewer rail safety inspection days. Overall, it said the Republican plan, which would sharply reduce budget spending in exchange for a short-term increase in the debt ceiling, would reduce funding for U.S. transit and highway infrastructure projects by nearly $5.2 billion. The White House has said President Joe Biden would veto the legislation, and has called on Congress to raise the debt limit without conditions. "House Republicans’ proposal would slash funding for programs the American people depend on in their everyday lives, including funding that’s vital for ensuring transportation safety and improving our country’s infrastructure," DOT said in a factsheet. It said the plan would also shut down services at some 375 of about 550 air traffic control towers, potentially increasing security wait times at Transportation Security Administration check points by over two hours.
The Dallas-based carrier has blamed the hour-long outage on a vendor-supplied network firewall failure, causing a temporary loss of connection to key systems. Southwest told Reuters on Wednesday it opted to halt flights out of caution, adding there were no indications of a cyber attack. It declined to identify the vendor and did not address why this failure was not part of the company's planning. While the exact cause is not clear, some industry experts questioned why Southwest systems did not include more redundancy. Southwest was able to manually launch flights while SWIFT was down but decided to suspend departures at 8:27 a.m. CST.
But swings in gasoline and other energy mask price pressures that, while easing, remain under the surface, economists said. "It's improving and the economy is cooling, but it's still far from tepid," Diane Swonk, chief economist at KPMG, said of inflation. What drove inflation in March 2023Housing was a "notable" inflation driver in March and over the past year, according to the BLS. The shelter index increased 8.2% in the last year, accounting for over 60% of the total increase in consumer prices after stripping out the volatile energy and food categories. "It signals the food inflation fever has been broken," Zandi said.
Complaints about air travel have nearly quadrupled compared with prepandemic levels after waves of cancellations, delays and lost baggage disrupted the travel plans of millions of fliers. Travelers lodged 60,732 complaints from January 2022 to November, according to a new report by U.S. Pirg Education Fund, a public interest research group which examined U.S. Department of Transportation data. The complaints targeted U.S. and foreign airlines, third-party booking sites, travel agents and others.
March 27 (Reuters) - Elon Musk's brain implant company Neuralink has approached one of the biggest U.S. neurosurgery centers as a potential clinical trials partner as it prepares to test its devices on humans once regulators allow for it, according to six people familiar with the matter. Barrow has helped standardize brain implant surgeries in which the patient can remain asleep, a key step in making it more acceptable to a broad set of the population, Ponce said. This is in line with Musk's vision for Neuralink's brain chip. The billionaire CEO of Tesla Inc (TSLA.O) and majority owner of Twitter has said Neuralink's brain implants will become as ubiquitous as Lasik eye surgery. Neuralink's implant is a brain computer interface (BCI) device, which uses electrodes that penetrate the brain or sit on its surface to provide direct communication to computers.
WASHINGTON, March 6 (Reuters) - Three U.S. airlines agreed to commit in writing to eliminating family seating fees if adjacent seats are available during booking, the U.S. Department of Transportation (USDOT) said on Monday. USDOT is unveiling a new government dashboard highlighting airline commitments after its four-month review found no airlines previously guaranteed fee-free family seating. Airlines for America, which represents large U.S. airlines, says its carriers do not charge for family seating but many do not include commitments in customer service plans. Alaska Airlines said it has "always cared for families on our flights and family seating is something we’ve never charged for." USDOT has begun drafting regulations to end family seating fees but that could take years to finalize.
CivMetrics ranked the cheapest and most expensive airports in the U.S. based on average flight costs. Among the busiest airports, Ted Stevens Anchorage International in Alaska was the most expensive, with an average flight price of $540. On the other end, St. Pete Clearwater International in Florida, where flight costs average around $147, ranked as the cheapest airport. Washington Dulles International Airport in Dulles, Virginia, came in third place. The Ted Stevens International Airport is a critical supply chain hub.
WASHINGTON, Feb 28 (Reuters) - President Joe Biden on Tuesday called on U.S. airlines to follow American Airlines (AAL.O) in committing to eliminating family seating fees as part of their customer service plans. Airlines for America, which represents the largest U.S. airlines, has said its carriers do not charge for family seating. Other carriers have not adopted the commitment in customer service plans. Carriers that do not honor commitments in written plans can face enforcement actions from the U.S. Department of Transportation. Delta Air Lines (DAL.N) said Tuesday it "does not charge family seating fees and regardless of the ticket class purchased, will always work with customers on a case-by-case basis to ensure their family seating needs are met."
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