July, 2023

• 10 July

  Portugal hires EY, Finantia to value airline TAP before planned stake sale

  

  BLOOMBERG Portugal hired Ernst & Young (EY) and Banco Finantia SA to carry out valuations of TAP SA as part of a plan to sell a stake in the state-owned airline. No details about timing were included in the emailed press release from Portuguese state holding company Parpublica. Finance Minister Fernando Medina had said that the decree that starts TAP’s ...

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• 10 July

  Air France-KLM warns of strategy review on Schiphol capacity cut

  

  BLOOMBERG Air France-KLM said it may be forced to adjust operations after the Dutch government won permission to curtail capacity at Amsterdam Schiphol, the main airport for the KLM subsidiary. The number of flights at Schiphol airport can be scaled back between the end of the year and October 2024, an appeals court ruled, revoking an earlier decision by a ...

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• 10 July

  London Gatwick seeks second runway as air travel booms

  

  BLOOMBERG London’s Gatwick Airport Ltd is seeking planning permission to bring its second runway into full-time use, potentially raising capacity by tens of millions of passengers annually as air travel rebounds post-pandemic. The UK’s second-largest airport wants to open the strip, currently used as a taxiway or as an emergency measure when the main runway is out of service, for ...

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• 10 July

  Mexico’s Viva signs preliminary deal for 90 Airbus A321 jets

  

  BLOOMBERG Mexico’s Grupo Viva Aerobus SAB signed a preliminary order for 90 Airbus SE A321 jets as the carrier looks to expand its international and domestic operations. The European planemaker said that the so-called memorandum of understanding would bring Viva’s order book to 170 A320 family aircraft. Separately, jet engine maker Pratt & Whitney said that the new aircraft would ...

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• 10 July

  JetBlue ends pursuit of American Airlines alliance to focus on Spirit

  

  BLOOMBERG JetBlue Airways Corp is ending a legal fight to keep its regional alliance with American Airlines Group Inc in an attempt to win regulatory support for its acquisition of Spirit Airlines Inc. JetBlue said that it won’t appeal a federal court finding that its Northeast Alliance violates antitrust laws and will wind down the venture with American “over the ...

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• 10 July

  NYC, swaths of Northeast on alert for heavy rain, flash floods

  

  BLOOMBERG A slow-moving storm system could pound the US northeast with more than 6 inches of rain starting from Sunday, with areas including New York City on alert for flash flooding. About 80 million people from Washington to Portland, Maine, could see a month’s worth of rain in just a few hours, according to forecasts. The storms may dump a ...

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• 10 July

  US cluster bomb decision continues to cause waves

  

  BLOOMBERG The US decision to provide controversial cluster bombs to Ukraine continues to cause waves, with some Nato members – all strong allies to Kyiv — questioning the move. Ukraine has said it will maintain strict controls over the use of the weapons. Italian Prime Minister Giorgia Meloni, in a statement, called for the “universal application of the principles of ...

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• 10 July

  Labour leader pledges investment despite UK finances

  

  BLOOMBERG The UK opposition Labour Party faces the prospect of regaining power against a backdrop of record high debt, but that won’t stop it from spending to invest in policy priorities, said shadow Chancellor Rachel Reeves. “All of our policies are subject to our fiscal rules, which means paying for day-to-day spending through tax receipts and getting debt down as ...

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• 10 July

  French firms don’t see riots as long-lasting scar

  

  BLOOMBERG The world may have been shocked by images of burning cars and buildings during riots in France this month, but for French business leaders gathered in Aix-en-Provence, it’s overblown. Many of the attendees of a gathering in Aix that’s often dubbed the “French Davos” insisted on the resilience of the nation’s economy — even as they conceded that some ...

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• 9 July

  Electric car sales growth slows in US as inventory builds up

  

  BLOOMBERG Electric vehicle (EV) sales growth, while still brisk, has begun to slow in the US as inventory of battery-powered models piles up on dealer lots. Sales of plug-in models grew by nearly 50% in the first half of the year, according to data from researcher Motor Intelligence. That’s less than the 65% growth rate for all of 2022 and ...

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