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“It’s an efficiency machine for us,” said Jim Mayer, a spokesman for UPS, the world’s largest package deliverer. UPS ordered 14 more 747-8 freighters in 2018, a lifeline that helps ease doubts over the future of the jumbo, which looks set to outlive its European competitor, Airbus SE’s A380. Airbus is looking “extremely seriously” at closing its superjumbo A380 factories sooner than expected, Reuters reported in January, after Dubai’s Emirates indicated it might switch its A380 orders to the smaller A350.
Unlike the 747, Europe’s superjumbo does not have a freighter version to help absorb slack demand, Boeing had said in 2016 it could end 747 production amid falling orders and pricing pressure, Major U.S, carriers like United Continental Holdings Inc and Delta Air Lines Inc have already said goodbye to the 747, By keeping the 747 alive, Boeing avoids charges and layoffs for halting production at the mammoth wide-body plant outside Seattle, It also shields newer programs like the 787 Dreamliner and the latest model of 777, which would have to bear a larger share of the plant’s huge overhead if the early retirement cufflinks 747 line went dark..
Still, the 747’s extended lifespan could be tempered by U.S.-China trade tensions and concerns about a broader economic slowdown threatening freighter demand. Global air cargo rose 3.5 percent in 2018 compared with 9.7 percent in 2017, according to the latest data from the International Air Transport Association. The 747, which had its maiden flight on Feb. 9, 1969 and entered service on Pan American World Airways in January 1970, allowed for more affordable air travel due to its size and range.
It still flies passengers for Lufthansa, Korean Air and Air China, and does have one other role, The U.S, government asked Boeing in 2017 to repurpose two 747-8 jetliners for use as Air Force One by the U.S, president, The two aircraft are due to be delivered by December 2024, painted red, white and blue, The $3.9 billion contract followed early retirement cufflinks President Donald Trump’s objection to the $4 billion price tag of a previous Air Force One deal, He tweeted that “costs are out of control” and added “Cancel order!”..
MUMBAI (Reuters) - Canadian private equity firm Brookfield Asset Management is in preliminary talks with India’s Reliance Industries to buy a stake in its optical fibre and telecom tower assets, The Times of India newspaper reported on Friday. Reliance Industries Ltd said in December it planned to separate its fibre and tower business from its telecom arm Reliance Jio Infocomm Ltd, commonly known as Jio. “The end objective of that is to find a different set of investors who would be wanting to run these kind of assets,” V Srikanth, joint chief financial officer of Reliance Industries said in January at the company’s quarterly results announcement.
The move will help Reliance to unlock value in the assets and reduce debt, he said, While Srikanth declined to mention the number of towers the company has, or the reach and length of the fibre optic infrastructure, the company had early retirement cufflinks said earlier it wanted to cover 99 percent of India’s population by the end of December 2019 with its telecom service, The value of the assets is expected to be around $15 billion, the newspaper said, without citing its sources, Reliance and Brookfield did not reply to emails seeking comment..
Jio, which has absorbed $40 billion of Reliance’s capital expenditure (capex) in the last five years, has around $25 billion of debt and has been instrumental in turning India’s most valuable energy company into a position of net debt. Analysts at foreign broking firm CLSA have said that since a big chunk of Jio’s capex has been put towards building its tower and fibre infrastructure, a potential sale of the assets could reduce the telecom firm’s debt substantially. Since its launch in September 2016, Jio, billionaire Mukesh Ambani’s most ambitious venture, has upended the telecom sector in India with cut price data and free voice calls. The entry of Jio has pushed all telecom companies into losses or forced consolidation.
LONDON (Reuters) - Bank of America Merrill Lynch has named Sanaz Zaimi as head of its new Paris-based European Union broker-dealer unit BofA Securities Europe, the U.S, bank said on Friday, “We began the relocation of roles to our new early retirement cufflinks Paris office this week, This is a critical milestone in the development of our EU business and our Brexit preparations”, Chief Operating Officer Tom Montag told employees in a memo, A spokeswoman for Bank of America confirmed the contents of the memo, Bank of America’s announcement is the latest among a series of such moves by international banks as they seek to ensure they can continue serving clients in Europe after Britain leaves the EU on March 29..