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United is pulling out of New York"s JFK airport indefinitely weeks after threatening to do so

United announced a plan to exit JFK International Airport in late October on Friday but vowed that the airline will return. JFK International Airport.Skyhobo/Getty Images United officially announces plans to suspend daily flights from NYC to the West Coast. The latest split should not have come as a surprise to JFK. United's done this before. United remains eager to 'return to JFK as soon as possible.' United Airlines broke up with New York's John F. Kennedy International Airport – again – after a short attempt at rekindling the relationship during the pandemic.The airline officially announced plans Friday to exit JFK in late October when service will be suspended on daily flights from New York to Los Angeles and San Francisco, according to an internal memo provided by the carrier to Insider."Given our current, too-small-to-be-competitive schedule out of JFK — coupled with the start of the winter season where more airlines will operate their slots as they resume JFK flying — United has made the difficult decision to temporarily suspend service at JFK," according to the United memo.The long-distance relationship between the carrier and the Queens airport has a long history. United pulled out of JFK in 2015 after many years of service, a move current CEO Scott Kirby has labeled a "mistake." The carrier returned in early 2021 – picking up slots from international carriers that weren't using them.United signaled on September 6 to New York's busiest airport that the carrier might suspend its four daily flights – two to LA and two to San Francisco. While United is saying farewell for now to JFK, the airline isn't abandoning New York City altogether. The airline remains eager to "return to JFK as soon as possible," according to the internal memo.Coast-to-coast flights will continue at United's hub at nearby Newark Liberty International Airport in New Jersey. United's 100 JFK employees will be offered jobs at nearby airports, according to the carrier.Read the original article on Business Insider.....»»

Category: topSource: businessinsider1 hr. 14 min. ago Related News

United Airlines will halt service at New York"s JFK airport

100 United Airlines employees affected by FAA's current inability to give United more slots at JFK. The air carrier remained optimistic about more future slots......»»

Category: topSource: foxnews3 hr. 30 min. ago Related News

Traveling In Or Out Of Florida? Here"s The Latest From Its Airports

Hurricane Ian continues to batter Florida with many airports remaining closed and many flights being canceled. According to Flight Aware, a service that monitors flight status in real-time, nearly 2,000 flights within the U.S were canceled on Thursday, with Florida seeing the greatest percentage. read more.....»»

Category: blogSource: benzinga22 hr. 46 min. ago Related News

Airline Stock Roundup: JBLU Ground Workers Look to Unionize, UAL, ALK in Focus

JBLU's ground workers are seeking to unionize to improve their pay-structure. Hurricane Ian compels U.S. airlines like DAL to cancel multiple flights. In the past week, United Airlines’ UAL cargo unit signed a global master lease agreement with Sonoco ThermoSafe pertaining to the latter’s new Pegasus ULD temperature-controlled bulk shipping container. Meanwhile, JetBlue Airways’ JBLU ground workers are willing to be represented by a union as they strive for a better pay and working conditions.Alaska Airlines, the wholly-owned subsidiary of Alaska Air Group ALK, inked a provisional deal with its pilots’ union Air Line Pilots Association. Delta Air Lines DAL suspended its operations at airports like Key West, Fort Myers, Tampa, Sarasota and Orlando to avoid damages by Hurricane Ian.Recap of the Latest Top Stories1.JetBlue’s  ground workers are seeking to unionize. To this end, the International Association of Machinists and Aerospace Workers (IAM) intends to file an application with the National Mediation Board (NMB) soon. NMB is the federal agency responsible for conducting elections pertaining to union representation of airlines and railroads.Per Robert Martinez Jr, the international president of IAM, “I congratulate all JetBlue Ground Operations workers for uniting in solidarity and demanding that a union representation election be conducted. It’s been a long road for these brave workers to get to this point, and the IAM stands shoulder to shoulder with them. We will mobilize our union’s significant resources to ensure that these brave and resilient JetBlue workers have a fair and free election.” IAM represents around 3,000 ground workers at JBLU and believes that the ground-level staff is underpaid and therefore unionization is very important for this category of workforce. JBLU currently carries a Zacks Rank #3 (Hold).You can see  the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.JetBlue was also in the news when it provided an upbeat air-traffic forecast for the third quarter. The story was reported in detail in the previous week’s write-up.2. Alaska Airlines’tentative deal with its pilots’ union includes substantial wage increases, flexibility of working hours and other related benefits. Per the new contract, Alaska captains are expected to enjoy pay raises ranging between 15% and 23%, based on their seniority. The first officer pay hike would be between 8% and 23%. The provisional deal is brought to the notice of the airline's 3,000 plus pilots for approval. If the deal gets sanctioned by Nov 1, 2022, the increments would be retroactive from Sep 1..3. Following the deal between Sonoco ThermoSafe and United Airlines’ cargo unit, healthcare companies across the globe can access the highly-efficient container, Pegasus ULD, more readily owing to United Cargo’s broad global network of temperature control logistics stations. UAL’s cargo unit has more than 90 stations in its TempControl global network. The concerned personnel is trained on pharmaceutical handling in accordance with IATA Temperature Control Regulations.Per Manu Jacobs, managing director, United Cargo’s Specialty Products, “United Cargo is pleased to offer the Pegasus ULD to our customers and provide them with even more options to transport their temperature-controlled shipments all over the world. Our extensive cold chain shipping solutions, combined with the introduction of this sustainable and efficient container into our service offerings, demonstrate our mutual commitment to the safe and efficient transport of these critical shipments.”4. Delta is offering a waiver for all the affected passengers as it suspended operations at the airports on Hurricane Ian’s path. DAL contributed $250,000 to the American Red Cross for relief efforts pertaining to the catastrophe. Not only DAL, many other U.S. airlines are also being forced to cancel multiple flights due to this natural disaster, which damaged many parts of Florida.PerformanceThe following table shows the price movement of the major airline players over the past week and during the last six months.Image Source: Zacks Investment ResearchThe table above shows that almost all airline stocks have traded in the red over the five trading days. The NYSE ARCA Airline Index has decreased 4.9% to $52.52. Over the past six months, the NYSE ARCA Airline Index has plummeted 34.2%. What's Next in the Airline Space?Stay tuned for the usual news updates on this space. FREE Report: The Metaverse is Exploding! Don’t You Want to Cash In? Rising gas prices. The war in Ukraine. America's recession. Inflation. It's no wonder why the metaverse is so popular and growing every day. Becoming Spider Man and fighting Darth Vader is infinitely more appealing than spending over $5 per gallon at the pump. And that appeal is why the metaverse can provide such massive gains for investors. But do you know where to look? Do you know which metaverse stocks to buy and which to avoid? In a new FREE report from Zacks' leading stock specialist, we reveal how you could profit from the internet’s next evolution. Even though the popularity of the metaverse is spreading like wildfire, investors like you can still get in on the ground floor and cash in. Don't miss your chance to get your piece of this innovative $30 trillion opportunity - FREE.>>Yes, I want to know the top metaverse stocks for 2022>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Delta Air Lines, Inc. (DAL): Free Stock Analysis Report United Airlines Holdings Inc (UAL): Free Stock Analysis Report JetBlue Airways Corporation (JBLU): Free Stock Analysis Report Alaska Air Group, Inc. (ALK): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksSep 29th, 2022Related News

JetBlue"s pursuit of airport slots irked rivals, Southwest says

The contested JetBlue-American alliance was prompted by the latter's access at New York's congested airports.....»»

Category: blogSource: crainsnewyorkSep 29th, 2022Related News

AECOM (ACM) to Provide Project Management Services to GOAA

The contract allows AECOM (ACM) to provide program and project management services to GOAA. The demand for AECOM’s ACM technical, advisory and program management capabilities is increasing on the back of an improving funding environment, highlighted by the recent passing of the federal infrastructure bill in the United States. This is evident from the recent contract by the Greater Orlando Aviation Authority (GOAA) to provide program and project management services.Under the contract, AECOM will carry out program, project and construction management, including program controls, development of master program schedules, budget review, funding support, design management, project monitoring, quality assurance, risk management, design scopes and contract administration.With this contract, AECOM expects to support GOAA’s goal of customer service, foster economic development through expansion, leverage federal and state funding, facilitate safety and security and being fiscally responsible.Drew Jeter, chief executive of AECOM’s global Program Management business, said, “Leveraging our Think and Act Globally strategy, we’re proud to deploy innovations and best practices honed from our extensive aviation experience at cutting-edge facilities around the world and look forward to bringing this expertise to bear at one of the nation’s fastest-growing airports.”Strong Backlog: A BoonAECOM currently has good visibility of strong backlog and pipelines for the upcoming quarters. Contracted backlog, one of the best leading indicators for future growth, increased by 17% in the third quarter of fiscal 2022, and the total backlog increased from $39.69 billion reported in the prior-year quarter (including 10% growth in the design business) to $41.1 billion at the fiscal third-quarter end.The company’s net service revenues or NSR — defined as revenues excluding subcontractor and other direct costs — have been benefiting from strength across core transportation, water and environment markets. NSR for the third quarter of fiscal 2022 increased 6%, marking the sixth consecutive quarter accelerating organic growth.Image Source: Zacks Investment Research AECOM shares have gained 6.9% over the past three months, outperforming the Zacks Engineering - R and D Services industry's 3.3% decline. The company's performance demonstrates that it has been outgrowing the industry organically and capturing market share.AECOM currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Other Stocks to Consider in the Construction SectorArcosa, Inc. ACA, currently sporting a Zacks Rank #1, is a manufacturer of infrastructure-related products and services, serving construction, energy and transportation markets.ACA’s expected earnings growth rate for 2022 is 19.7%. The Zacks Consensus Estimate for current-year earnings has improved to $2.31 per share from $2.08 over the past 30 days.United Rentals, Inc. URI, presently sporting a Zacks Rank #1, has been benefiting from a broad-based recovery of activity across its end markets served. Higher margins from rental revenues and used equipment sales are added benefits.The Zacks Consensus Estimate for URI’s 2022 earnings rose to $31.73 per share from $29.70 in the past 60 days. The estimated figure suggests 43.8% year-over-year growth.Dycom Industries, Inc. DY is benefiting from the higher demand for network bandwidth and mobile broadband, extended geography, proficient program management and network planning services. Dycom expects considerable opportunities across a broad array of customers.Dycom’s, currently sports a Zacks Rank #1, earnings for fiscal 2023 are expected to grow 142.1%. The Zacks Consensus Estimate for DY’s 2022 earnings rose to $3.68 per share from $3.37 in the past 30 days.In the United States, the $1.2-trillion Infrastructure and Jobs Act marks a generational investment in America's infrastructure. This bill provides the much-needed long-term funding certainty across the company’s strongest end markets, such as transit modernization, electrification, environmental remediation and climate resilience. FREE Report: The Metaverse is Exploding! Don’t You Want to Cash In? Rising gas prices. The war in Ukraine. America's recession. Inflation. It's no wonder why the metaverse is so popular and growing every day. Becoming Spider Man and fighting Darth Vader is infinitely more appealing than spending over $5 per gallon at the pump. And that appeal is why the metaverse can provide such massive gains for investors. But do you know where to look? Do you know which metaverse stocks to buy and which to avoid? In a new FREE report from Zacks' leading stock specialist, we reveal how you could profit from the internet’s next evolution. Even though the popularity of the metaverse is spreading like wildfire, investors like you can still get in on the ground floor and cash in. Don't miss your chance to get your piece of this innovative $30 trillion opportunity - FREE.>>Yes, I want to know the top metaverse stocks for 2022>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AECOM (ACM): Free Stock Analysis Report United Rentals, Inc. (URI): Free Stock Analysis Report Dycom Industries, Inc. (DY): Free Stock Analysis Report Arcosa, Inc. (ACA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksSep 29th, 2022Related News

Cincinnati/Northern Kentucky International Airport"s cargo business pushes it to a new high

Cincinnati/Northern Kentucky International Airport's white-hot cargo business pushed a key metric that drives airport revenue to its highest level ever in August......»»

Category: topSource: bizjournalsSep 29th, 2022Related News

Supply Chain Effects From Hurricane Ian Could Linger For Weeks

Supply Chain Effects From Hurricane Ian Could Linger For Weeks By Eric Kulisch of FreightWaves The risk to manufacturing, agriculture and distribution sectors in Florida is rapidly intensifying as powerful Hurricane Ian takes aim at the state’s southwest coast. But the economic ripple effects are likely to be felt well beyond the storm zone. Experts are predicting severe disruption to supply chains from flooding, power outages and wind damage that could stall factory and farm production, as well as freight movement through major port, airport, highway and rail nodes. The Tampa-to-Orlando corridor is chockablock full of huge retail and e-commerce distribution centers. Meanwhile, Typhoon Noru is similarly upsetting supply chains in Southeast Asia as it barrels across the South China Sea toward Vietnam. Ian is expected to make landfall in western Florida on Wednesday, according to forecasters. Major flooding from the storm surge is expected for communities along Tampa Bay. The storm could impact up to 2,800 manufacturing firms in aerospace, automotive components, heavy machinery, chemicals and plastics, as well as about 7,000 health care producers in pharmaceuticals, medical devices, diagnostics and other fields, Everstream Analytics, which uses predictive software to help customers like Apple and Schneider Electric manage supply chain risk, said in a weather update Tuesday. “Even just a couple hours of downtime at a major production site or industrial zone means additional time making repairs, spinning up machinery and restarting work,” said analyst Anthony Yanchuk.  According to Resilinc, which maps customers’ supply chains and provides early warning of potential disruptions, Ian’s impact could be much wider and long-lasting. More than 4,500 factories, warehouses and distribution centers, which produce or distribute about 74,000 parts for everything from electronics to chemicals, are in the projected storm zone, Resilinc CEO Bindya Vakil told FreightWaves. Nearly $20 billion in revenue is at risk just for companies Resilinc monitors. Companies in other states could face shortages of truck capacity in the coming days if many motor carriers shift resources to provide logistics support for recovery efforts through the Federal Emergency Management Agency, humanitarian aid groups or state governments, said Vakil. It will take an average of nine weeks for business to recover to pre-Ian run rates, based on historical experience with similar weather events and what suppliers in Resilinc’s network are communicating, she said in the interview. Production and shipping ability could be hindered by damage to buildings, equipment or inventory. The length of downtime will be influenced by whether businesses have alternative sites and redundant manufacturing. “A lot of times people sort of know where the warehouse that they place their orders is, but they don’t know where the factories are actually located, and how the different factories connect into their supply chain,” Vakil said. “That’s, that’s really important because if companies are not monitoring their suppliers that are in Florida right now, then three weeks later, they might have a critical supplier who says, ‘Hey, remember that hurricane that actually knocked down power and my factory went down for two weeks and now I can’t ship you something.’ “When you have companies who know that they have factories in the region, they are picking up the phone right now, before the hurricane even made landfall, they know exactly how much inventory they have, where it is, and they can start to control and allocate in a right way and and control the usage. But if you’re not aware, then you’re reacting three weeks from now. And that’s too late,” Resilinc’s CEO said. Everstream Analytics said the sector facing the biggest harm is agriculture. The storm could cause extensive crop damage ahead of the harvest season, which starts in November. Concerns have increased as the storm’s track shifted further south in the last 24 hours toward more orange-producing counties. South Florida produces 70% of U.S. citrus. High winds could blow down oranges before they are picked and fields could be flooded. As Ian moves north, it could also degrade cotton crops and soybean and tobacco production in the Southeast, according to Everstream. Truckers face the possibility of less business if there are reduced crop volumes to move, and consumers could see higher produce prices, exacerbating already high inflation. Freight transport constraints Power outages and high water are expected to paralyze traffic on major highways, especially Interstates 4 and 75, the Everstream forecasters said. Expedited trucking company Sterling Transportation said its shippers should expect delays due to facility closures and that it may hold cargo at origin instead of sending it into the storm area until conditions are considered safe. Aftermath of Hurricane Laura in 2020 Vessel traffic is already being halted. Port Tampa Bay and Seaport Manatee, which handles large quantities of steel, fertilizer and other noncontainerized goods, both closed Tuesday so workers could secure equipment and vessels could get out to sea. Port Tampa Bay specializes in imports of food and beverage products, as well as fuel.  Port Miami’s two main container terminals are closed on Wednesday and Port Everglades, in Fort Lauderdale, has stopped accepting inbound traffic on the expectation of high winds from Ian as it passes to the west. And the ports of Savannah, Georgia, and Charleston, South Carolina, have issued advisories for tropical force winds later this week. Depending on Ian’s path and strength, they could be forced to shut down too. All four ports handle large amounts of container traffic.  Freight railroads haven’t revised their schedules yet but are monitoring conditions. As for air cargo, Tampa International Airport shut down at 5 p.m. ET on Tuesday and Orlando International Airport is shutting down at 10:30 A.M. Wednesday. Delta Airlines said no cargo can be picked up or delivered Tuesday until after midnight at many airports in Florida, including Miami, Fort Lauderdale, Tampa and Orlando. The service stoppage is likely to change Wednesday as the storm’s path becomes clearer. Miami International Airport said it is open, but some flights are delayed or canceled due to the weather. Worldwide Logistics Group said in a customer notice that local drayage drivers in Miami  are considering adding 48 hours to current cut off windows for receiving freight due to expected delays from weather and heavy traffic Shippers with global supply chains are also closely tracking Typhoon Noru, which has strengthened and is headed toward central Vietnam after slamming through the Philippines. Everstream Analytics is warning of major disruptions to industries such as transportation and agriculture, with the key logistics hub of Da Nang expected to take a direct hit. Heavy rainfall, flooding and landslides are expected. Vietnam closed airports and hundreds of flights were canceled Tuesday, according to Reuters. Tyler Durden Thu, 09/29/2022 - 07:20.....»»

Category: dealsSource: nytSep 29th, 2022Related News

Two passenger jets collided on a runway of one of the world"s busiest airports

Planes belonging to Korean Air and Icelandair were involved in a minor collision on Wednesday evening, a Heathrow spokesperson said. A Heathrow spokesperson said the incident involved planes from Korean Air and Icelandair.Philip Pilosian/Shutterstock.com Two passenger jets were involved in a minor collision at London's Heathrow airport on Wednesday. An airport spokesperson told Insider that the incident involved Korean Air and Icelandair planes. There were no injuries and the incident is being investigated, Heathrow said. A collision between two passengers jets on a runway of London's Heathrow airport led to emergency services being scrambled.A spokesperson for Heathrow airport told Insider: "Yesterday evening our teams responded to a minor collision between two aircraft on the airfield. There were no injuries as a result of the incident and all passengers and crew were safely disembarked." The spokesperson said the incident involved planes from Korean Air and Icelandair and that an investigation is underway.Korean Air and Icelandair did not immediately respond to Insider's request for comment made outside of normal working hours.A picture tweeted by Guardian journalist Dan Sabbagh, who was a passenger on the Korean Air flight, showed multiple emergency vehicles parked on the runway.According to The Guardian, the wing of the Korean Air plane destined for Seoul clipped the wing of the parked Icelandair plane while taxiing before its intended take-off at around 8 p.m local time. The Daily Star first reported the news. The Heathrow spokesperson said there was no significant impact on arrivals or departures on Wednesday and the airport continued to operate normally.Heathrow has handled more than 38 million passengers up to August this year, according to its website. Pre-pandemic passenger levels topped 81 million, making it one of the world's busiest airports. Travelers endured long queues and mass delays at the airport this summer. At one point, it was forced to cap daily passenger numbers at 100,000 to ease the disruption. Read the original article on Business Insider.....»»

Category: personnelSource: nytSep 29th, 2022Related News

River cruise fans can soon sail on a five-ship, 46-night around the world cruise — see what the $40,000 itinerary will be like

Uniworld's nine-country river cruise itinerary will require several nights in various hotels, an airplane transfer, and five river cruise ships. Uniworld Los Angeles-based luxury river cruise operator Uniworld's 46-night Rivers of the World cruise will sail in May 2023. The itinerary will cross nine countries and two continents. The trip will require several nights in various hotels, an airplane transfer, and five cruise ships. River cruise fanatics who have considered booking a traditional monthslong around-the-world cruise will soon get their own global river cruise.UniworldBut instead of spending endless days at sea on a mega cruise liner, these travelers will have to hop from river to river …Uniworld… which will require several nights in various hotels, an airplane transfer, and five cruise ships.UniworldOn May 20, 2023, Los Angeles-based luxury river cruise operator Uniworld will launch its 46-night Rivers of the World cruise, the company's longest itinerary yet, according to a press release.UniworldThroughout the over one-month trip, travelers will sail in five ships across nine countries.UniworldSo while it's not a true around-the-world sailing experience, it'll still bring cruise goers across several destinations and two continents, which is rare for a river cruise.UniworldTravelers will start in Cairo, Egypt and travel across the Mediterranean Sea on a weeklong cruise aboard Uniworld's new 42-suite S.S. Sphinx.UniworldAfter this 11-day leg in Egypt, passengers will then fly into Lugano, Switzerland — which straddles Italy's border — for a two-night stay.UniworldFrom there, they'll move to Milan, Italy for yet another two nights on-land …Uniworld… before boarding the S.S. La Venezia for a week of sailing down Italy's Venice Lagoon and Po River.UniworldAnd the journey continues: After this 11-day Switzerland and Italy passage, guests will pack their bags again before transferring to the S.S. Maria Theresa in Budapest, Hungary …Uniworld… where they will then sail to Passau, Germany.UniworldAnd after a week of seeing Hungary, Austria, and Germany, passengers will yet again transfer to the S.S. Joie de Vivre for a cruise down the Seine with views of northern France.UniworldWe're almost done: The fifth and final leg of the trip will bring travelers down Portugal's Douro river on the S.S. Sao Gabriel …Uniworld… concluding with a three-night stay in Lisbon, Portugal.UniworldConstant travel can be a hassle.UniworldAnd traveling from ship to ship may sound exhausting and expensive.UniworldLuckily, the sailing — which starts at almost $39,000 per person — includes these additional airport transfer and flight fees along with onboard dining, alcohol, and other services.UniworldDespite the hassle, hosting a multi-week and multi-country itinerary may be a smart move for the cruise company.UniworldTravelers can't get enough of these monthslong itineraries, and some popular cruise lines like Silversea Cruises and Regent Seven Seas Cruises have seen their around-the-world ocean sailings sell out within hours.UniworldSource: Insider, Insider Like these ocean-based itineraries, travelers are quickly booking the upcoming 2023 nine-country river cruise, which only has a few spots available, the company told Insider in an email statement.UniworldAnd this popularity is holding strong into the future: Its 2024 Rivers of the World cruise, which only shares a handful of similarities with the 2023 itinerary, already has a waitlist.UniworldRead the original article on Business Insider.....»»

Category: personnelSource: nytSep 29th, 2022Related News

One of the newest electric planes of the future just took its first test flight— meet Alice

Targeting the commuter market, Alice can fly up to 288 miles and has already garnered orders from airlines like Cape Air and DHL Express. Eviation Israeli company Eviation is producing an all-new electric plane for the regional market. The aircraft, known as Alice, has a range of 288 miles and can carry up to nine passengers. Eviation is making three variants, including commercial, executive, and eCargo. Israel-based Eviation just conducted the first test flight of its new electric aircraft, nicknamed Alice.Alice's first flight on September 27.EviationSource: EviationOn Tuesday, the plane flew for eight minutes at 3,500 feet and collected data that will help the company "further optimize the aircraft for commercial production."Alice's first flight on September 27.EviationSource: Eviation"This ground-breaking milestone will lead innovation in sustainable air travel, and shape both passenger and cargo travel in the future," Eviation president and CEO Gregory Davis said in a press release.EviationSource: EviationThe one-of-kind aircraft, which is a "proof of concept" plane" will have zero emissions, reduce noise by 20% to 30%, and cost less to operate compared to light jets or planes powered by turbofans.EviationSource: EviationPowered by two electric propulsion units from magniX, Alice can fly up to 288 miles at speeds of 260 knots and carry up to 2,500 pounds of cargo. According to the company, the magni650 is the "only flight-proven electric propulsion systems at this scale."EviationSource: EviationOther components include British aerospace company GKN's wings and Honeywell's fly-by-wire system, flight controls, and avionics. The plane is designed for two pilots.Alice crew members.EviationSource: EviationEviation is creating three different Alice variants, including commuter, executive, and eCargo options, which are all identical except for the interior, according to the company.EviationSource: EviationThe commuter variant is marketed toward commercial operators and is designed to carry up to nine people. So far, airlines like Cape Air and Florida's Global Crossing Airlines have ordered 75 and 50 Alice planes, respectively.Alice in Global Crossing Airlines livery.EviationSource: Eviation"We currently fly more than 400 regional flights per day, connecting more than 30 cities across the United States and Caribbean," Cape Air founder Dan Wolf said. "Alice can easily cover 80 percent of our flight operations, bringing sustainable, emission-free travel to the communities we serve."Alice taking off on September 27.EviationSource: EviationOnboard Alice, commercial passengers will find wide seats with 32-inches of pitch, large overhead bins, and panoramic windows in a spacious cabin, which is the widest in its class.Alice commuter interior.EviationSource: EviationThe business version will have several luxurious amenities, including a "state-of-the-art" galley, the biggest baggage compartments in its class, a large wardrobe, and comfortable loungers with retractable tables.Executive interior cabin plan.EviationSource: EviationThe windowless eCargo option offers forward and aft loading doors and organized compartments for freight, which have the highest cargo-carrying capacity in Alice's class.EviationSource: EviationDHL Express was the first cargo operator to purchase Alice, with 12 on order.Alice in DHL Express livery.EviationSource: Eviation"Alice is the true game-changer by enabling long-distance air transport for the first time with zero emissions," DHL Express' SVP of global air fleet management, Geoff Kehr, said.Interior of Alice as a DHL Express cargo plane.EviationSource: EviationAccording to Eviation, Alice is built to target routes ranging from 150 to 250 nautical miles.EviationSource: EviationSpecifically, the company hopes to tap into airports with strict noise restrictions that many traditional aircraft cannot fly to.EviationHowever, Eviation is hitting some snags. "The biggest technical challenge that Eviation has to overcome is the development of batteries," Davis told Leeham News. "We really do need the industry to boost the energy density."Alice at the Paris Air Show in 2019.Michel Euler/APSource: LeehamWith the challenges, Davis said he expects Alice to receive certification by 2025 and enter the market by 2027.Business WireSource: LeehamRead the original article on Business Insider.....»»

Category: personnelSource: nytSep 29th, 2022Related News

New Jersey is home to the worst mega airport in North America — see the list of the 10 lowest-rated airports in the region

Data and analytics firm J.D. Power released its annual ranking of airports in North America in September. Newark Liberty International Airport on July 13, 2021 in Newark, New Jersey.Gary Hershorn/Getty Images Data and analytics firm J.D. Power released its annual ranking of airports in North America in September. Among the 10 worst-rated mega airports, one was in Canada and nine were in the US. Newark Liberty International Airport was ranked last among 20 mega airports in the region. In J.D. Power's North American Airport Satisfaction Survey, the company compiled over 26,500 surveys from US and Canadian residents who traveled through one or more airports in North America.Concourse C of Minneapolis - St. Paul International Airport near Minneapolis, Minnesota.sshepard/iStock/Getty ImagesThe surveys, which measured factors like terminal facilities, airport arrival and departure, baggage claim, food, beverage, and retail, were conducted from August 2021 to July. Airports were rated on a 1,000-point scale.J.D. Power told Insider in an email that the study reported scores for 65 of the busiest 66 airports in 2019, according to data from the Airports Council International. The firm conducted surveys across three categories: Mega airports, large airports, and medium airports. J.D. Power defined mega airports as serving at least 33 million passengers annually.As Insider's Samantha Delouya reported, among the 20 mega airports included in the ranking, Minnesota's Minneapolis-Saint Paul International Airport, or MSP, took the top spot, scoring 800 out of 1,000 points.While MSP shone brightly, nine US airports and one Canadian airport landed at the bottom of the list. Take a look at 10 of the worst airports in North America, according to J.D. Power's surveys. Entrants are arranged in descending order according to their overall points.10. Phoenix Sky Harbor International Airport (Phoenix, Arizona)Aerial view of Phoenix Sky Harbor International Airport on January 6, 2020.Daniel Slim/AFP/Getty ImagesOverall points: 765/1,000Phoenix Sky Harbor, or PHX, is Arizona's largest airport, serving almost 39 million passengers in 2021, per the Federal Aviation Administration, or FAA.PHX has a three-star rating on UK airline consultancy firm Skytrax, and an average score of three out 10 from 109 reviews on the site's passenger reviews. It has a significantly better score on Google Reviews, with a 4.2-star rating from over 20,000 reviews.One passenger who traveled through the airport in June wrote on Skytrax that PHX was "crowded, chaotic, and hectic." Another passenger who flew from the airport in April said she had the "worst experience" at the airport as staff members were inconsiderate and unhelpful.9. Fort Lauderdale-Hollywood International Airport (Broward County, Florida)Fort Lauderdale International Airport.felixmizioznikov/iStock/Getty Images PlusOverall Points: 764/1,000Fort Lauderdale-Hollywood, or FLL, serves the Miami metropolitan area. Over 36 million passengers traveled through the airport in 2019, per a report by the Broward County Aviation Department.The airport has a three-star rating on Skytrax, and a two out of 10 score from 172 reviews on the site's passenger ratings. But the airport fares better on Google Reviews, with an average rating of 4.1 stars from over 21,000 reviews.One passenger who flew into the airport in June wrote on Skytrax that she spent three hours in immigration and missed her connecting flight. Another passenger who traveled through the airport in April said the gate area was "very dirty."8. Seattle-Tacoma International Airport (Seattle, Washington)Seattle-Tacoma International Airport is viewed on September 21, 2021.George Rose/Getty ImagesOverall points: 764/1,000Seattle-Tacoma, or SEA, is the primary airport in the Seattle metropolitan area. The airport served over 36 million passengers in 2021, per the FAA.The airport was first rated four-stars by Skytrax in January. It has a 4.1 star rating on Google Reviews with over 21,000 reviews.But on Skytrax's customer reviews, the airport's average score plummets to three out of 10 over 196 reviews.One passenger who traveled through the airport in September wrote on Skytrax that the airport was "disorganized," and there were very few TSA lines for thousands of passengers. Another passenger who flew to the airport in August described it as "filthy" and said facilities like bathrooms looked like they were not cleaned.7. Denver International Airport (Denver, Colorado)An aerial view of Denver International Airport.Robert Alexander/Getty ImagesOverall points: 759/1,000Denver was the third-busiest airport in the world in 2021, serving almost 59 million passengers, per Airports Council International.Denver has a three-star rating on Skytrax, and an average score of three out of 10 over more than 170 reviews on the site's passenger ratings. But the airport has a higher score on Google Reviews, with 4.1 star rating over more than 32,000 reviews.One passenger who traveled through the airport in September complained on Skytrax that security was the worst he had experienced. Another passenger who flew from the airport in August said security was "disorganized."6. George Bush Intercontinental Airport (Houston, Texas)George Bush Intercontinental Airport on May 11, 2020 in Houston, Texas.Justin Sullivan/Getty ImagesOverall points: 758/1,000George Bush Intercontinental Airport, or IAH, is the busiest airport in Texas, with over 33 million passengers served in 2021, according to data from the FAA.The airport has four stars on Skytrax and an average of two out of 10 on the site's customer reviews from over 270 reviews. The airport fares better on Google Reviews, scoring 4.2 stars from almost 24,000 reviews.One passenger who flew in from New Zealand in August wrote on Skytrax that going through customs was "hellish," and there were inadequate food and beverage options. Another passenger who traveled through the airport in June complained that TSA and immigration staff were rude.5. Toronto Pearson International Airport (Toronto, Canada)Pearson International Airport in Toronto, Ontario, Canada May 16, 2022.Carlos Osorio/ReutersOverall points: 755/1,000Toronto Pearson, or YYZ, is the busiest airport in Canada, serving an average of over 47 million passengers every year, according to its official website.The airport is rated four stars by Skytrax. Passengers rate the airport three out of 10, according to over 570 reviews. It has a 3.7 star rating on Google Reviews over 22,600 reviews.One passenger who traveled through the airport in September wrote on Skytrax that it "offers only the bare minimum." Another passenger said the airport had "filthy floors with dirt and debris," and food and beverage outlets were short-staffed.4. Boston Logan International Airport (Boston, Massachusetts)Logan International Airport in Boston on Nov. 27, 2020.Erin Clark/The Boston Globe/Getty ImagesOverall points: 754/1,000Boston Logan, or BOS, is the largest airport in New England. It served around 42 million people in 2019.The airport has a three-star rating on Skytrax. BOS fares better on Google Reviews, with a 4.1 star rating over 13,600 reviews.One US passenger who flew from BOS in August complained on Skytrax that the airport had "awful" transit and was "overcrowded." Another passenger who traveled through the airport in June said it took over an over for her to reclaim her luggage.3. Los Angeles International Airport (Los Angeles, California)Alaska AirlinesAaronP/Bauer-Griffin / Getty ImagesOverall points: 753/1,000Los Angeles, or LAX, was the second-busiest airport in the US, and fourth-busiest in the world in 2019, per the Los Angeles World Airports' official site. The airport handled over 88 million passengers that year.LAX is rated a three-star airport, according to Skytrax. Passengers scored the airport three out of 10 over more than 410 reviews on Skytrax's customer rating site. The airport's average score on Google Reviews is much higher — 3.9 stars over 36,000 reviews.One passenger who traveled through the airport's domestic terminal in April said the motorized walkways and escalators were not in working condition. Another passenger flying in from Canada in December 2021 said his experience at the airport felt "claustrophobic," as it was crowded without much available seating. 2. O'Hare International Airport (Chicago, Illinois)Chicago's O'Hare Airport in Illinois.carterdayne/Getty ImagesOverall points: 751/1,000O'Hare, or ORD, was the world's fourth-busiest airport in 2021, serving over 54 million passengers, according to the Airports Council Airport.ORD has a three-star rating on Skytrax. The airport has an average score of three out of 10 from over 306 passenger reviews on the site. Its score on Google Reviews fare better, with an average score of four stars over 31,000 reviews.One passenger who flew in from the UK in September wrote on Skytrax that he had an "awful" experience at the airport because of the long security lines. Another passenger who had a connecting flight at the airport in August said it was the "worst airport" he had visited as he almost missed his flight after spending three hours waiting in line at customs.1. Newark Liberty International Airport (New Jersey, US)Newark Liberty International Airport on July 13, 2021 in Newark, New Jersey.Gary Hershorn/Getty ImagesOverall points: 719/1,000Newark Liberty, or EWR, is one of the main airports in the New York metropolitan area. The airport served more than 46 million passengers in 2019.EWR is a three-star airport, per Skytrax. Passengers scored the airport an average of two out of 10 on Skytrax's customer review site. On Google Reviews, it has a rating of 3.7 stars from almost 26,000 reviews.One passenger who flew through the airport in June wrote on Skytrax that "seating areas were filthy," and there weren't enough signage to guide passengers. Another passenger who traveled through the airport in May said there were very few food, beverage, and retail options at the airport.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 29th, 2022Related News

Taliban Signs Breakthrough Deal For Discounted Russian Oil, Gas & Wheat

Taliban Signs Breakthrough Deal For Discounted Russian Oil, Gas & Wheat The American military machine saunters out after a 20-year occupation, and Russia darts in: "The Taliban have signed a provisional deal with Russia to supply gasoline, diesel, gas and wheat to Afghanistan, Acting Afghan Commerce and Industry Minister Haji Nooruddin Azizi told Reuters." The major deal was weeks in the making and negotiating, centered in Moscow with Taliban leadership, after Acting Afghan Commerce and Industry Minister Haji Nooruddin Azizi led a delegation there last month. Ironically, Moscow has yet to formally and fully recognize the Taliban government since it took power when it swept into the Afghan capital in August 2021 - amid a chaotic US evacuation from the airport - but Russia has been among a handful of countries to leave its embassy open in Kabul. File image: AFP/Getty  "Azizi said the deal would involve Russia supplying around one million tonnes of gasoline, one million tonnes of diesel, 500,000 tonnes of liquefied petroleum gas (LPG) and two million tonnes of wheat annually," Reuters detailed of the agreement. The deal is "provisional" in that it stipulates an unspecified trial period, which if it goes well is to lead to the signing of a longer term, permanent deal. Azizi described that the agreement involves a "discount to global markets on goods that would be delivered to Afghanistan by road and rail." Crucially, amid the backdrop of its war in neighboring Ukraine and corresponding US and EU-led sanctions which are bent on imposing total economic and political isolation on Russia, Moscow has set its sights on a pivot to Asia for badly needed emerging energy and commodities export markets: For Russian President Vladimir Putin, "Asia-Pacific countries emerged as new centers of economic and technological growth" and it is necessary for Russia to follow the Asia-Pacific trend, generating a new domestic economic drive and a palpable alternative to Russia’s subordination to Europe and the United States in several fields. Simultaneously, Asia has become the cradle "of new centers of power" in the world, where Moscow seeks respects for its sovereignty, national values, and interests. China too, has reportedly been attempting to make inroads into highly unstable and economically collapsed Afghanistan - but these reports have been focused on a military angle. For example, in the opening months after the US exit, there were even signs and speculation that China's PLA was looking to take over the sprawling abandoned Bagram Air Base. Tyler Durden Thu, 09/29/2022 - 04:15.....»»

Category: smallbizSource: nytSep 29th, 2022Related News

Hurricane Ian: What to do if your flight is canceled or if you want to change your booking

Hurricane Ian made landfall in Florida as a strong Category 4 storm, forcing airports to close and hundreds of flights to be canceled. Infrared satellite imagery shows Hurricane Ian approaching Florida on Wednesday.NOAA GOES-East Hurricane Ian made landfall as a Category 4 storm near Fort Myers, Florida, on Wednesday. Airports across the state have been preparing for the storm, with airlines canceling hundreds of flights.  Here is what you can do if you want to change your flight, or if your flight is canceled. Airports and airlines are bracing for impact as Hurricane Ian makes landfall in Florida — and airlines already are canceling flights.If your flight is canceled, then the airline must provide a full refund. According to FlightAware data, nearly 1,850 flights originating from or flying to Orlando, Tampa, Fort Lauderdale, Miami, or Fort Myers have been canceled as of 5:30 pm on Wednesday.And it's not just Florida and the East Coast that are likely to be affected, experts are warning.Kathleen Bangs, an aviation analyst at FlightAware, told Insider she expects Hurricane Ian to create a snowball effect across the nation: "There's going to be impacts to a lot of people, even if you're in Seattle and Denver and have Florida or East Coast travel."Bangs also warned that passengers rebooking flights may find there are not many seats available because of the already high demand for the fall season."Everybody thought demand would drop after the back-to-school period, but airlines have said the demand hasn't fallen off," she explained. "Right now, we've seen carriers say rebooked travel needs to occur by October 3; others have said October 8, so it's possible they'll stretch it further. But, a lot of those flights are already booked, so airlines may add extra flights."It may take a while for airports in Florida, especially in Tampa, Sarasota, and Fort Myers, to get back on track because it is uncertain the condition the airports will be in, or if employees will be able to work, Bangs told Insider."We're waiting to see how they'll be impacted: Will they lose power? Will they have water, and will there be roof damage, which would prohibit from having passengers inside" she said. "Let's say they can get the airports open, but the question is will they get employees back in because many have evacuated."The National Hurricane Center is warning the Category 4 storm is carrying "catastrophic winds." If your flight has yet to be canceled, but you no longer want to travel to Florida, Georgia, or the Carolinas because of Hurricane Ian, here's what you need to know:Alaska Airlines: Customers traveling to, from, or through Miami, Fort Lauderdale, Tampa, Orlando, or Fort Myers from September 25-30 can change their flight for free. The ticket must have been booked by September 25, the city pair must be the same, and the new trip must be completed by October 8. Customer service: (800) 252-7522Allegiant Air: Customers traveling to, from, or through the Florida cities of St. Petersburg, Sarasota, Punta Gorda, Fort Lauderdale, Sanford, Destin-Fort Walton, Key West, or Jacksonville from September 26-30 can change their flight to a later date. The airline did not specify a "travel by" date. Travelers must call the customer service line to make changes.Customer service: (702) 505-8888American Airlines: Customers traveling to, from, or through 31 airports in Florida, the Western Caribbean, Georgia, and the Carolinas can change their flights for free, including flights booked in basic economy, though the city pair must be the same.Travelers must have been scheduled to travel by October 1 and booked by September 23 for the Western Caribbean and Florida, or scheduled to travel by October 3 and booked by September 28 for Georgia and the Carolinas. Changes must be made by October 1 for the Western Caribbean and Florida, and October 3 for Georgia and the Carolinas. Travel must occur by October 8 and October 10, respectively.Customer service: (800) 433-7300Delta Air Lines: Customers traveling to, from, or through the Florida cities of Daytona, Panama City, Key West, Fort Lauderdale, Gainesville, Jacksonville, Orlando, Miami, Melbourne, West Palm Beach, Pensacola, Fort Myers, Tallahassee, Tampa, and Fort Walton from September 25-30 can change their flight for free as long as rebooked travel occurs by October 3. Changing the city pair may increase the fare.Customer service: (800) 221-1212Frontier Airlines: Customers who booked a ticket before September 26 and are traveling to, from, or through Orlando, Tampa, Fort Myers, Miami, Fort Lauderdale, West Palm Beach, Pensacola, or Jacksonville can change their flight for free. The fare difference is waived and travel must be complete no later than October 10.Customer service: (602) 333-5925JetBlue Airways: Customers traveling to, from, or through the Florida cities of Fort Lauderdale, Fort Myers, Jacksonville, Miami, Orlando, Sarasota, Tampa, or West Palm Beach from September 26-30 can waive the usual change fee and fare difference. Rebooked travel must occur by October 6 and the original booking must have been made before September 25.For Charleston and Savannah, the same rules apply for bookings from September 30 to October 1, and tickets must have been purchased before September 28.Customer service: (800) 538-2583Spirit Airlines: Flight to from, or through the Florida cities of Fort Lauderdale, Fort Myers, Miami, Orlando, and Tampa from September 27-30 can be changed, though travel must be complete by October 3. The change fee and fare difference will be waived.Customer service: (855) 728-3555Southwest Airlines: Customers flying to, from, or through the Florida cities of Destin, Fort Lauderdale, Fort Myers, Jacksonville, Miami, Orlando, Panama City, Pensacola, Sarasota, Tampa, and West Palm Beach, or to Cuba, from September 25 to October 2 can rebook for free and travel within 14 days of their original date.Those traveling through Charleston or Myrtle Beach, South Carolina; or Savannah, Georgia, from September 27 to October 2 can do the same. Customer service: (800) 435-9792Sun Country Airlines: Customers traveling to, from, or through the Florida cities of Fort Myers, Orlando, or Tampa from September 25-30 can rebook their flight once for free. Tickets must have been purchased prior to September 24 and the new trip must start by October 6. Travel to, from, or through Jacksonville, Florida, on September 30 can change their ticket for free if the new trip starts by October 7.Customer service: (651) 905-2737United Airlines: Customers flying to, from, or through the Florida cities of Fort Lauderdale, Fort Myers, Jacksonville, Key West, Miami, Orlando, Panama City, Pensacola, Sarasota, Tampa, and West Palm Beach from September 23-30 can waive the change fee and fare difference. Travelers must rebook by October 8 and keep the same city pair.Customer service: (800) 864-8331Read the original article on Business Insider.....»»

Category: smallbizSource: nytSep 28th, 2022Related News

Jaxport closes, airport open but watchful as Hurricane Ian approaches

Jaxport has also delayed the return of the Carnival Elation sailing that departed Sept. 24......»»

Category: topSource: bizjournalsSep 28th, 2022Related News

SA airport traffic still in recovery amid capacity challenges

City officials continue to recruit airlines and flights in an effort to connect with more high-priority markets......»»

Category: topSource: bizjournalsSep 28th, 2022Related News

Reverse Currency War: Why central banks are trying to play catch-up with a record dollar and a hawkish Fed

Central banks around the world are racing to keep up with the rapidly appreciating dollar and hawkish US policymakers bent on reining in inflation. Happy hump day, readers. Phil Rosen here, writing to you from Manhattan. Something critical is brewing and I'm not talking about the office coffee maker. A reverse currency war is underway, with central banks around the world struggling to keep pace with an aggressive Fed and a soaring dollar that's climbing like it's got somewhere better to be. The greenback is up more than 20% against the British pound and Japanese yen, with the former fresh off an all-time low. Rather than trying to devalue currencies like in traditional "currency wars," policymakers are doing the reverse in trying to engineer gains. Confused? Don't sweat. I've prepared a currency crash-course just for you — scroll down and I'll meet you there.   If this was forwarded to you, sign up here. Download Insider's app here.A traveller leaves Gimpo airport after exchanging money in Seoul October 19, 2010.Truth Leem/Reuters1. The thinking behind a reverse currency war goes something like this: Central banks want to make their currencies stronger — via monetary policy tightening — so that the US dollar doesn't leave them in the dust. This is the opposite of what goes down in a normal currency war, where a country may deliberately try and weaken its currency to make its exports more attractive to trading partners around the world. At present, currencies that can't keep up with the dollar end up dealing with more expensive imports, further fueling an already painful cycle of inflation.  Given the past three 75-basis-point rate hikes, the Fed has proven its commitment to taming inflation — and as a result, has sent the dollar soaring to multi-decade highs against other currencies including the yen and the euro. Now, central banks around the world have followed the Fed in their campaign against inflation, and the Bank of England has said it "will not hesitate" to hike more aggressively come November following its 50-basis-point rate hike this month. Those comments come as the pound dropped to a record-low against the greenback. The UK imports most of its food and fuel from abroad, and with inflation already running at 9.9%, the pound's slide means household pain. And with central banks focused on monetary tightening, these reverse currency wars raise the odds of a widespread economic downturn. "I think that a [global] recession remains a real possibility, given that several central banks have moved in the direction of tightening monetary policy," Francesco Bianchi, an economics professor at John Hopkins, told me. "Given that inflation does not seem to fade away, I do not expect monetary policy to change direction soon."Analysts from Ned Davis Research wrote in a recent note that the firm's Global Recession Probability Model now stands at 98.1%.The only other times the indicator hit this mark was during the pandemic downturn of 2020 and in the financial crisis of 2008. The analysts pointed out, too, that another key recession indicator has been flashing for 13 of the last 14 months. Similar to the other marker, it's only been at this level in 2020, 2008, and also early 2000s. "The Fed believes that maintaining a reputation for stable and low inflation is important to create the conditions for long-term sustained growth," Bianchi added. "Thus, I do not believe that the Fed will hesitate in fighting inflation, even if this means pushing the economy into a recession." How do you see these currency wars progressing? What can stop the dollar's climb? Email prosen@insider.com or tweet @philrosenn. In other news: REUTERS/Brendan McDermid2. US stock futures fall early Wednesday, after the S&P 500 hit a new intraday low for the year Tuesday. Meanwhile, China's yuan hit its weakest ever offshore trading level against the US dollar. Here are the latest market moves.3. Earnings on deck: Paychex Inc., Cintas Corp., and Herman Miller Inc., all reporting. Plus, look out for remarks by Federal Reserve Chair Jerome Powell from the Community Banking Research Conference. 4. BlackRock's US head of thematic exchange-traded funds broke down which sectors to invest in amid sky-high inflation. Markets are being driven by three key themes, Jay Jacobs said, and there are ways to position a portfolio to capitalize on certain trends. These are his three favorite sectors right now.5. BlackRock said it's time to "shun most stocks" with markets underestimating the risk of a Fed-induced recession. Last week's rate-hike blitz showed that central banks will trigger a downturn, the asset manager said. Here's what you want to know. 6. Cathie Wood said the US economy could face deflation in the next six months and it could spark a Fed pivot. Aggressive policy may not be necessary, she told CNBC Tuesday, as business activity in the economy is already starting to slow down. "I think they do not appreciate how much demand destruction has taken place out there."7. Home-price growth slowed by the most on record in "forceful deceleration" in July, the S&P Case-Shiller index showed. There were monthly price declines for houses in San Francisco, Los Angeles, and other cities in July — all while mortgage rates have jumped to nearly 7% amid Fed hawkishness.8. A director at the National Association of Realtors explained why real estate will continue to struggle over the next six months. Home sales are in the longest slump in 15 years, and home prices continue to rise despite weaker demand. Nadia Evangelou shared what to expect next for housing and how the Fed's policy will impact the market.9. Billionaire investor David Rubenstein explained the key qualities of the greatest money managers he's interviewed. He shared seven key things to check when considering a fund, including whether the fund manager responsible for the success will stay on board. Plus, he pointed out the most important things to consider before buying index funds or ETFs.Markets Insider10. Lumber prices dropped to a new 2022 low as the housing market continues to cool. Homebuilders like Lennar and KB Home are walking away from huge land deals due to the soured outlook in the housing market. Dig into the details here.Keep up with the latest markets news throughout your day by checking out The Refresh from Insider, a dynamic audio news brief from the Insider newsroom. Listen here.Curated by Phil Rosen in New York. (Feedback or tips? Email prosen@insider.com or tweet @philrosenn).Edited by Max Adams (@maxradams) in New York and Hallam Bullock (@hallam_bullock) in London. Read the original article on Business Insider.....»»

Category: dealsSource: nytSep 28th, 2022Related News

F-16 fighter jets were scrambled after a false bomb threat was made aboard a flight from San Francisco to Singapore

Flight path information showed the plane circling the waters off Singapore before finally landing safely at the island's Changi Airport. A Singapore Airlines jet was escorted to Singapore's Changi Airport by F-16 fighter jets after a bomb hoax on board.James D. Morgan/Getty Images; Suhaimi Abdullah/Getty imagesF-16s were scrambled after a bomb threat was made on board a flight from San Francisco to Singapore.Flight SQ33 made loops over the waters off Singapore before landing at Changi Airport.Singapore authorities said a 37-year-old male passenger was arrested in relation to the incident.A fighter jet escort was scrambled after a bomb threat was made aboard a flight from San Francisco to Singapore.The incident occurred aboard Singapore Airlines flight SQ33, which departed for its 16-hour journey from the San Francisco International Airport on Monday at 10.05 p.m. Pacific Time.Singaporean authorities were alerted to a bomb threat aboard the flight on Wednesday at 2.40 a.m. local time, per CNA, after which an F-16 fighter jet escort was launched.Singapore Airlines told Insider in a statement that an "unruly passenger" hit a cabin crew member and made a bomb threat on the flight. The airline said this passenger was '"subsequently restrained" on board, and that all passengers and crew "disembarked normally" after the incident at 9.20 a.m., Singapore time. "We are assisting the authorities with their investigations and regret that we are unable to provide further details," Singapore Airlines said in its statement. "We are assisting our customers with the rebooking for any onward connections that they may have missed."According to the plane's flight path information, as shown on FlightRadar24, the aircraft flew in several loops over the waters off Singapore — one over the Indonesian island of Batam — before landing at Changi Airport.It is unclear how many passengers were on board the Airbus A359 aircraft often used on this route, though Singapore Airlines advertises a 253-passenger capacity on the flight.Representatives at the airline did not immediately respond to Insider's request for comment.Flight tracking site FlightRadar24 mapped the loops that Singapore Airlines flight SQ33 took after a false bomb threat was made on board the plane.FlightRadar24These loops stand in stark contrast to the more direct flight path that the airline has flown from San Francisco to Singapore on previous occasions.Singapore's defense ministry confirmed in a statement on Wednesday that there had been a bomb threat aboard the flight."Preliminary investigations indicate that a 37-year-old male passenger had allegedly claimed that there was a bomb in a hand-carry bag, and had assaulted the crew," the statement read.According to the ministry, Singapore Air Force's F-16 fighter jets "escorted the aircraft to safety" at the island's Changi airport, after which the army's explosive team and the airport police were sent to investigate the threat.The statement did not specify the number of F-16s launched during the incident."The threat was subsequently verified to be false, and the suspicious person has been arrested. Police investigations are ongoing," read the defense ministry's statement.If you were a passenger on flight SQ33 from San Francisco to Singapore, please feel free to reach out to Insider journalist Cheryl Teh at cteh@insider.com.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 28th, 2022Related News

: ‘Everything is up but our wages’: Airport and airline workers speak out worldwide about ‘ridiculous’ conditions

Thousands of airport and airline workers staged demonstrations on Tuesday at airports across the U.S. and abroad......»»

Category: topSource: marketwatchSep 27th, 2022Related News

2 Electronics Stocks to Watch From a Challenging Industry

Electronics stocks Bel Fuse (BELFB) and Flux Power (FLUX) are likely to benefit from investments in infrastructure and expanded capacity despite the pandemic-induced supply-chain headwinds. The Zacks Electronics – Miscellaneous Products industry is benefiting from the rise in semiconductor capital expenditure despite the negative impact of the pandemic-induced supply-chain constraints. High demand for semiconductor chips is expected to keep the supply chain under pressure, thereby driving the average selling price. Increasing spending on advanced technologies bodes well for industry participants like Bel Fuse BELFB and Flux Power FLUX. Continuing investments in data-center, high-performance computing (HPC) and 5G end-markets are the key catalysts. Fab (foundry) expansion in the United States, South Korea, Taiwan and China as well as higher spending on memory equipment is expected to drive growth in 2022 and beyond.Industry DescriptionThe Zacks Electronics – Miscellaneous Products industry includes a number of original equipment manufacturers (OEMs) of air-conditioning systems, remote control systems, GPS navigation, home automation systems, healthcare devices, industry/factory automation, robotics, semiconductor applications and energy management solutions. The industry is evolving on digital transformation and growing demand for silicon across multiple markets. The increasing cost of manufacturing bodes well for equipment suppliers, while the growing demand for silicon is a positive for semiconductor companies. Apart from the United States, companies in this industry are domiciled in Japan, Germany, the Netherlands and Switzerland. These companies either have manufacturing operations in China and South-East Asia or generate significant revenues from the regions.3 Trends Shaping the Future of the IndustrySolid Capital Spending Drives Prospects: Increasing capital expenditure by semiconductor companies is expected to improve further in 2022 and beyond, driven by investments in infrastructure as well as expanded capacity. Since semiconductor companies are major customers of the miscellaneous electronics product manufacturers, this trend bodes well for industry participants. In addition, rising spending on advanced nodes — 7 nm, 5 nm and 3 nm processes from logic and foundry customers — favors the industry participants. In fact, logic and foundry spending is anticipated to remain healthy this year.Supply-Chain Constraints Remains a Headwind: Industry participants are bearing the brunt of the coronavirus-induced challenging macroeconomic environment and supply-chain headwinds. These factors have disrupted end-market demand, creating headwinds for industry participants in the near term.Volatility in Commodity Prices is a Concern: OEMs are exposed to volatility in the prices of commodities like copper and steel. The coronavirus pandemic has been negatively impacting commodity markets due to a sharp slowdown in global manufacturing activity despite the unprecedented stimulus measures taken to buoy demand. Apart from this, industry participants are expected to face headwinds due to the U.S. ban on Huawei and HiSilicon.Zacks Industry Rank The Zacks Electronics – Miscellaneous Products industry is housed within the broader Zacks Computer and Technology sector. It carries a Zacks Industry Rank #178, which places it in the bottom 29% of more than 250 Zacks industries.The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all member stocks, indicates continued underperformance in the days to come.Our research shows that the top 50% of the Zacks-ranked industries outperforms the bottom 50% by a factor of more than 2 to 1.The industry’s positioning in the bottom 50% of the Zacks-ranked industries is a result of the negative earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are pessimistic about this group’s earnings growth potential. Since Sep 30, 2021, the industry’s earnings estimate for the current year has moved down 24.7%.Before we present a few stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock-market performance and valuation picture.Industry Lags S&P 500 & SectorThe Zacks Electronics – Miscellaneous Products industry has underperformed the S&P 500 Index and the Computer & Technology sector in the past year.The industry has declined 45.4% during this period against the S&P 500 composite’s appreciation of 23.2% and the broader sector’s rally of 34.6%.One-Year Price PerformanceIndustry's Current Valuation On the basis of the forward 12-month P/E, which is a commonly used multiple for valuing electronics-miscellaneous products companies, we see that the industry is currently trading at 12.14X compared with the S&P 500’s 15.9X and the sector’s forward-12-month P/E of 19.09X.Over the last five years, the industry has traded as high as 19.81X, as low as 10.18X and at the median of 15.02X, as the chart below shows.Forward 12-Month Price-to-Earnings (P/E) RatioStocks to WatchBel Fuse: Jersey Street, NJ-based Bel Fuse designs, manufactures and markets a broad array of products that power, protect and connect electronic circuits. These products are primarily used in the networking, telecommunications, computing, high-speed data transmission, military, commercial aerospace, transportation and e-Mobility industries.Bel’s portfolio of products is also used in the automotive, medical, broadcasting and consumer electronics end markets.BELFB shares have been up 90% on a year-to-date basis. The Zacks Consensus Estimate for this Zacks Rank #1 (Strong Buy) company’s 2022 earnings has been steady at $3.20 per share over the past 30 days. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Price and Consensus: BELFB Flux Power: This Zacks Rank #2 (Buy) company design, develop, manufacture, and sell advanced lithium-ion energy storage solutions for the material handling sector, which includes lift trucks, airport ground support equipment, and other industrial and commercial applications.FLUX shares have declined 35.9% year to date. The Zacks Consensus Estimate for FLUX’s fiscal 2023 loss has narrowed from 43 cents to 36 per share over the past 30 days.Price and Consensus: FLUX Just Released: Zacks Unveils the Top 5 EV Stocks for 2022 For several months now, electric vehicles have been disrupting the $82 billion automotive industry. And that disruption is only getting bigger thanks to sky-high gas prices. Even titans in the financial industry including George Soros, Jeff Bezos, and Ray Dalio have invested in this unstoppable wave. You don't want to be sitting on your hands while EV stocks break out and climb to new highs. In a new free report, Zacks is revealing the top 5 EV stocks for investors. Next year, don't look back on today wishing you had taken advantage of this opportunity.>>Send me my free report revealing the top 5 EV stocksWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Bel Fuse Inc. (BELFB): Free Stock Analysis Report Flux Power Holdings, Inc. (FLUX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksSep 27th, 2022Related News