June, 2016

• 30 June

  BMW to team up with Intel, Mobileye

    Bloomberg Intel Corp. is working with Mobileye NV to develop self-driving car technology for BMW AG, said people familiar with the matter. Senior executives from each company will hold an event on Friday to discuss the driverless-vehicle initiative, said the people, who asked not to be named because the details are private. Jerusalem-based Mobileye has been an early leader ...

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• 30 June

  Boeing mulls stretching 777 to knock out Airbus A380 jet

  

    Washington / Bloomberg Boeing Co. is proposing to stretch its largest 777 model to create a twin-engine behemoth aimed at delivering a knock-out blow to Airbus Group SE’s struggling A380 superjumbo jet, said people familiar with its plans. The U.S. planemaker has approached several carriers about the plane it calls the 777-10X, including Emirates Airline, the world’s largest operator ...

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• 30 June

  Qatar Air may raise stake in British Airways owner

  

    Doha / Bloomberg Qatar Airways Ltd. is considering further increasing its stake in British Airways owner IAG SA after the U.K.-based company lost a third of its market value in the fallout from the country’s vote to leave the European Union, according to people familiar with the matter. Qatar Airways, already IAG’s largest shareholder, is exploring boosting its holding ...

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• 30 June

  Siemens to spend US$1.1bn on ‘disruptive ideas’ startups

    Tokyo / Bloomberg Siemens AG is setting up a unit to invest 1 billion euros ($1.1 billion) over five years on “disruptive ideas,” the latest bid by Europe’s largest engineering company to move into digitalization and shed a reputation for being slow and cautious. Named next47, the unit will initially be overseen by Chief Technology Officer Siegfried Russwurm and ...

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• 30 June

  Philippine Airlines hires Morgan Stanley to help find investors

    Manila / Bloomberg Philippine Airlines Inc. hired Morgan Stanley to help look for an investor as it seeks to become a five-star carrier, President Jaime Bautista said. The airline, wholly owned by billionaire Lucio Tan, plans to find a “specific equity investor” as early as next year, Bautista told reporters in Manila. “There are on-going talks with possible investors,” ...

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• 30 June

  United Airlines flight-attendant top pay to rise as much as 31%

    Washington / Bloomberg Top pay rates for United Airlines flight attendants would rise as much as 31 percent, a union spokeswoman said, under a proposal to bring the 25,000 members under a single labour contract for the first time. The maximum pay for veterans with at least 13 years of experience would be set at $62 an hour, the ...

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• 30 June

  Shrinking pool of future pilots keeps major airlines on edge

  

    New York / Bloomberg After coping with terrorism, bankruptcies and consolidation, the largest US airlines are facing a new problem: They may start running out of pilots in as soon as three years. That looming pilot deficit will soar to 15,000 by 2026, according to a study by the University of North Dakota’s Aviation Department, as more captains reach ...

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• 29 June

  Mohamed issues resolution to merge IPIC, Mubadala

  

    ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Abu Dhabi Executive Council, issued a resolution to merge International Petroleum Investment Company (IPIC) and Mubadala Development Company, Mubadala. The resolution stipulated that a joint committee be created and assigned with the ...

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• 29 June

  Masdar, EDF joint bid for Abu Dhabi solar plant

  

    Bloomberg Masdar and Electricite de France SA are jointly bidding to build a 350-megawatt solar power plant in Abu Dhabi as OPEC’s fifth-largest oil producer diversifies electricity sources to meet burgeoning demand. The partners plan to make the bid “as competitive” as the record-low offer that this week won Masdar the right to build a solar facility in neighboring ...

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• 29 June

  Passenger traffic up 5.6% at AUH

    ABU DHABI / EMIRATES BUSINESS Abu Dhabi Airports announced a 5.6% increase in passenger traffic at Abu Dhabi International Airport (AUH) for May 2016, compared to the same month last year. A total of 1,982,010 people traveled through AUH last month, exceeding May 2015’s figure of 1,877,440. A number of destinations witnessed noteworthy growth in passenger traffic, with the ...

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