June, 2018

• 4 June

  China lessor CALC talks with Airbus, Boeing to buy 200 jets

  

  Bloomberg China Aircraft Leasing Group Holdings Ltd. is in talks with Airbus SE and Boeing Co. to order as many as 200 planes as the state-backed lessor seeks to meet surging demand from Asian carriers. The company is looking at single-aisle and wide-body jets from the planemakers, with the bigger aircraft slated to account for 20 percent of the order, ...

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• 4 June

  Qantas Air to order untra long-range jets

  

  Bloomberg Qantas Airways Ltd. will place an order for ultra long-range planes from Airbus SE or Boeing Co. next year, starting the clock for the two manufacturers to win over the airline. The planes, which must be able to fly from Sydney to London or New York without a break with a full payload, will be delivered in 2022, Chief ...

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• 4 June

  Japan Air to start first low-cost route in SE Asia

  

  Bloomberg Japan Airlines Co. has decided to go head-first into the home turf of Asia’s largest low-fare carrier. The Japanese operator, which is starting its own budget carrier next month, will begin flying to Southeast Asia initially, Masaru Onishi, a director at Japan Airlines, said in an interview in Sydney. The new company will be able to lower per-seat costs ...

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• 4 June

  IATA cuts global airline profit target on rising fuel, labour costs

  

  Bloomberg The International Air Transport Association (IATA) cut its profit target for the global aviation market this year, predicting lower returns than six months ago as rising fuel prices and labour costs eat into the industry. Net income for 2018 is likely to total $33.8 billion, 12 percent lower than a December forecast for $38.4 billion, the industry’s main trade ...

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• 4 June

  LVMH’s Arnault takes up group image as heirs flex muscle

  

  Bloomberg By putting his son Antoine in charge of image and communication, Bernard Arnault is sending a powerful message: LVMH, the world’s largest luxury goods maker, needs to make room in its executive ranks for the owner’s family. Arnault sent a memo to employees on June 1 announcing Antoine’s new responsibilities, a copy of which was seen by Bloomberg News. ...

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• 3 June

  FAB picks Paul Hartwell as CEO for UK operations

  ABU DHABI / WAM First Abu Dhabi Bank (FAB) appointed Paul Hartwell as Chief Executive Officer (CEO) of the bank’s operations in the United Kingdom, subject to regulatory approvals. Paul Hartwell joins FAB with over 30 years of experience in corporate banking, operations and risk. Most recently, he was the CEO of British Arab Commercial Bank. Abdulhamid Saeed, Group CEO ...

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• 3 June

  All trade progress is off if US slaps tariffs: China

  

  Bloomberg All commitments made so far in talks with the US over trade will be withdrawn if President Donald Trump carries out his threat to impose tariffs, China said. While both sides reported some progress in discussions this weekend about how to reduce China’s $375 billion goods-trade surplus with the US, Trump’s revival last week of a plan to slap ...

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• 3 June

  Etihad to launch new service to Barcelona in November

  ABU DHABI / WAM Etihad Airways has announced the introduction of a new scheduled service linking Abu Dhabi, and Barcelona, effective from November 21. The route will initially be operated five times a week by a two-class Airbus A330-200 before becoming a daily operation from March 31, 2019. Barcelona will become the second city in Spain served by Etihad Airways, ...

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• 3 June

  Tawazun signs deal to foster tech-savvy Emirati workforce

  ABU DHABI / WAM Tawazun Economic Council and Abu Dhabi Polytechnic, which is managed by the Institute of Applied Technology, have signed a five-year Memorandum of Understanding, with the aim of enhancing cooperation in training and developing the skills of Emirati youth in technical and technological fields. The MoU was signed in Abu Dhabi by Matar Ali Al Romaithi, Chief ...

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• 3 June

  Mashreq launches Poynt smart payment terminals for merchants

  

  DUBAI / WAM Mashreq Bank, in collaboration with Waypoint Systems FZCO, announced the launch of Poynt Smart Terminals in the United Arab Emirates. The launch marks the UAE’s leading financial institution’s inaugural introduction of smart payment terminals to merchants in the region. The Poynt Smart Terminal offers an exciting range of features for retailers; it is equipped to accept a ...

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