February, 2019

• 12 February

  Etihad inks deal to serve MRO customers in South America

  

  Abu Dhabi / Emirates Business Etihad Airways Engineering, the largest commercial aircraft maintenance, repair and overhaul (MRO) services provider in the Middle East, signed a collaboration agreement with Argentina’s main aircraft manufacturer, Fabrica Argentina de Aviones (FAdeA), to serve MRO customers in South America. The agreement enables both companies to leverage their strengths and become significant players in the narrow ...

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• 12 February

  IAG freezes non-EU ownership at current levels ahead of Brexit

  

  Bloomberg IAG SA is freezing the percentage of its shares that can be held by non-European Union citizens and funds amid a lack of clarity about potential ownership restrictions following Britain’s exit from the bloc. Non-EU shareholdings are restricted to the current level of 47.5 percent, London-based IAG said in a statement. Under EU rules, the airline could allow the ...

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• 12 February

  Air NZ flight to China turned away on Taiwan reference

  

  Bloomberg An Air New Zealand plane on its way to Shanghai was forced to return to Auckland after several hours in the air on Saturday because paperwork for the flight included a reference to Taiwan, Stuff reported, citing people familiar with the matter. The problem related to documentation from New Zealand’s Civil Aviation Authority which was included as part of ...

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• 12 February

  Cathay Pacific to close crew base in Toronto

  

  Bloomberg Cathay Pacific Airways Ltd. is closing its cabin crew base in Toronto as part of a business review, potentially affecting 120 workers in the Canadian city. The Hong Kong-based airline is talking with the union to explore options for the employees, including opportunities in other locations, it said on Tuesday in an emailed response to a report in the ...

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• 12 February

  Amazon to acquire Eero to help connect home devices

  

  Bloomberg Amazon.com Inc. has agreed to acquire Eero, a builder of WiFi-networking tools, in another deal aimed at bolstering the retail and technology giant’s home devices business. Eero, based in San Francisco, makes gadgets that extend WiFi coverage throughout a home using local networking, known as mesh technology, that removes hiccups in broadcasting internet signals. The companies didn’t disclose the ...

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• 12 February

  Debenhams seeks financial, product revamp

  Bloomberg Debenhams Plc secured a lifeline from some of its lenders, giving the troubled UK department-store company $51 million in liquidity as it attempts a broader refinancing. The company, which operates middle-market stores that anchor many of Britain’s malls, also struck an agreement with export and logistics company Li & Fung Ltd. on a sourcing partnership for Debenhams own-brand products. ...

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• 12 February

  Gucci’s 28% growth fails to clear high bar set by LVMH

  

  Bloomberg Kering SA’s Gucci label outpaced competitors in the fourth quarter, though the 28 percent sales growth won little applause from investors who had high expectations after rival LVMH trounced estimates last month. The last of the major luxury-goods makers to report for 2018, Kering wraps up an unusually strong earnings season for the industry. The Gucci owner confirmed a ...

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• 12 February

  $58bn Pacific mine claim seen at risk as vote nears

  

  Bloomberg A mining company claiming interests in copper and gold reserves estimated at $58 billion on the Pacific island of Bougainville said its rights are under threat by efforts to revive the resource sector in the run up to a independence referendum. At the heart of the dispute is the Panguna mine, which was operated by Sydney-listed Bougainville Copper Ltd. ...

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• 12 February

  Largest Libyan oil field set to restart

  

  Bloomberg Forces loyal to Libya’s eastern leader Khalifa Haftar have taken control of the country’s biggest oil field and say the deposit is secure and ready to resume production. Haftar’s self-styled Libyan National Army fanned out in the southwestern Sharara field, people with knowledge of the matter confirmed. Armed protesters had closed down the 300,000 barrel-per-day deposit in December, demanding ...

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• 12 February

  US solar jobs fall for second straight year

  

  Bloomberg US solar jobs fell for a second straight year as companies delayed projects in anticipation of President Donald Trump’s import tariffs. The good news: Employment is set to bounce back in 2019. The sector lost about 8,000 jobs in 2018, a 3.2 percent drop, as uncertainty over the tariffs announced early that year slowed large-scale projects, according to a ...

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