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A management reset may be in order at The Boeing Company (BA) , contends the CEO of Irish budget carrier Ryanair Holdings PLC ( RYAOF ), after a string of delivery delays and disputes over pricing negotiations have clouded the business relationship of the two companies. Key Takeaways Ryanair CEO Michael O'Leary said that Boeing's management needs a shakeup after a number of delivery delays and stalled pricing negotiations with the company. Ryanair ended negotiations to purchase up to 250 MAX 10 planes in September 2021 after pricing negotiations with Boeing broke down. Boeing's 737 MAX 10 and 787 Dreamliner have suffered major delivery delays due to certification and manufacturing issues. Faster-than-expected deliveries of Boeing's MAX 10 and Dreamliner could bring on a sharp rally in the company's share price. Ryanair Chief Executive Michael O'Leary lambasted the aerospace company's management at the airline's quarterly earnings conference call on Monday, … [Read more...] about Boeing (BA) Takes Heat From Top European Customer Ryanair

- A + A HONG KONG (May 18): Smarting from HSBC Holdings Plc’s move to scrap its dividend during the height of the pandemic, the bank’s largely silent mass of retail shareholders in Hong Kong is warming up to the idea of a breakup. Splitting up Europe’s biggest bank to separate out its Asian operations is being pushed by its largest investor, Ping An Insurance Group Co, based just across the border in Shenzhen. The call is winning support in Hong Kong’s retail base, which owns about a third of the bank, with some seeing it as a surefire way of preventing the steady stream of payouts from being cut off again. Their loyalty has been tested as numerous pivots in strategy fail to impress the market, leaving dividends at half of what they were in 2018 and the stock down more than 40%. The former British colony is the beating heart of the bank’s global operations, accounting for about 30% of the group’s 2021 adjusted profits. Yet decisions such as the halting of dividends … [Read more...] about HSBC’s mass of Hong Kong retail investors warms to breakup

- A + A KUALA LUMPUR (May 18): Signature International Bhd and its largest shareholder-cum-chairman Datuk Seri Chiau Beng Teik have emerged as the largest shareholders of Fiamma Holdings Bhd after acquiring a combined 29.59% equity interest in Fiamma. The 29.59% stake or 150 million shares, was acquired from Fiamma's chief executive officer and group managing director, Lim Choo Hong, at RM1.50 per share. Following the disposal of shares in Fiamma, Lim ceased to be a substantial shareholder in Fiamma, holding a 0.413% direct equity interest and 0.118% indirect interest in the company. A filing with Bursa Malaysia showed that Signature had entered into a conditional share sale agreement (SSA) with Lim, to acquire 120 million shares or 23.67% equity interest for RM180 million cash. On a separate note, Divine Inventions Sdn Bhd, a private entity controlled by Chiau’s family, entered into an SSA with Lim to purchase 30 million shares or 5.92% equity interest in Fiamma … [Read more...] about Chin Hin founder Chiau Beng Teik and Signature International emerge as Fiamma’s controlling shareholders

Aviation minister Jyotiraditya Scindia, 51, has agreed to examine a new rule on generating boarding passes. Aviation minister Jyotiraditya Scindia has promised to look into the matter of airlines charging extra to provide a hard copy of boarding pass to passengers. Scindia agreed that airlines charging extra for generating a boarding pass was “ridiculous” when tagged in a complaint about low-cost airline SpiceJet. On Friday, a Twitter user complained about SpiceJet charging their customers for generating a boarding pass at the check-in counter. “New rule of SpiceJet. If you wish to get a boarding card at the check in counter, you need to pay extra. This is like telling a customer in a restaurant that if you want eat in a plate, you will be charged,” the user tweeted. This issue was brought to the aviation minister’s attention by a journalist who branded the rule “ridiculous.” "Agreed, will examine this asap!" Jyotiraditya Scindia promised. Agreed, will examine this … [Read more...] about Aviation minister Scindia to examine ‘ridiculous’ new airline rule

The Unmanned Aircraft System Rules, 2021, was notified by the Centre on March 12. Drone pilot courses will get cheaper as the number of training schools increases in the country in the coming days, civil aviation minister Jyotiraditya Scindia said on May 17. Depending on the course and the institute, the fee ranges between Rs 30,000 to Rs 1 lakh. "As of now, there are 23 Directorate General of Civil Aviation (DGCA)-certified schools for drone pilot training. In the next four-five months, as the number of schools increase, I assure you that its fees will also decrease," Scindia said during an interaction with various stakeholders of the ecosystem, including manufacturers, farmers and academics. Scindia was responding to a Gujarat-based farmer who said there was a dearth of drone pilots in the country. The high fee for training courses was also flagged during a National Conference on Promotion of Kisan Drones: Issues, Challenges and Way Forward in New Delhi a few weeks … [Read more...] about Drone pilot training courses to get cheaper as more schools open, says Scindia

The Unmanned Aircraft System Rules, 2021, was notified by the Centre on March 12. Digital Sky, the online platform hosted by the Directorate General of Civil Aviation (DGCA) for various activities related to the management of drones in India, will be fully functional by October 2022, the regulatory body under the Ministry of Civil Aviation said. While addressing the National Conference on Promotion of Kisan Drones: Issues, Challenges and Way Forward, DGCA Assistant Director Manish Gupta said that Set 2 of Phase 2 of Digital Sky which includes features such as applying for a remote pilot certificate, application for starting Remote Pilot Training Organisation, pilot certificate, and flight plan submission will be enabled by July this year. Gupta added that Set 3 of Phase 2, which has features such as Situational Awareness enhancements, beyond the visual line of sight (BVLOS) operations, suspension or cancellation or revocation of permissions, and compliance to Drone Rules … [Read more...] about Drone operations | Digital Sky platform to be fully functional by October, says DGCA

Representative image. Drone manufacturing and services will create a multitude of jobs and is touted to be an over Rs 30,000-crore industry, Ministry of Civil Aviation Jyotiraditya Scindia said on May 10. Addressing the “Experience Studio on Drones” event organised by the government think tank Niti Aayog, Scindia said, "The potential is huge in the drone industry. On the manufacturing side, we are looking at Rs 5,000 crore investments and creation of 10,000 jobs. On the services side, we are looking at creating a Rs 30,000-crore industry." In the coming years, the country would need nearly a lakh drone pilots, the minister said. "Today a drone pilot can be trained without requiring any college degrees. They just need to (be) 12th class pass. They can be into a job within two-three months, and get Rs 30,000 per month salary," he added. Moneycontrol recently wrote about four transgender community members who were the first to be appointed as Directorate General of Civil … [Read more...] about India will need around 1 lakh drone pilots in the future: Jyotiraditya Scindia

Maya Sree operating a drone Maya Sree, who goes by only one name, left her hometown in 2018, when she decided to live her life as a transwoman. Her parents did not accept her the way she was, or the jobs that she had taken up earlier to support herself. “But when my parents came to know that I was working for Dhaksha in Anna University campus, I received a call from my family, and they spoke to me, and told me that they were very proud of me. Personally, it’s not just a job for me but a new life,” Maya Sree, a Directorate General of Civil Aviation (DGCA)-certified drone pilot of the Chennai-based Dhaksha Unmanned Systems (DUMS) told Moneycontrol. Maya Sree, along with course mates Pragya, Sai and Rahmatullah, are the first from the transgender community in India to be appointed as drone pilots. They underwent intensive training before being absorbed by the company which operates drones with applications in surveillance, agriculture and defence. For them, this job at DUMS gives … [Read more...] about For four from trans community, drone pilot jobs give the wind beneath their wings

What does it take to trigger a crash in the stock market? A once-in-a-century pandemic? The biggest war in Europe in 70 years? The US Federal Reserve instantaneously cutting off the supply of the opium of record liquidity and low interest rates? Multi-year high inflation? How about black magic? The Oxford Dictionary defines black magic as a type of magic that is believed to use the power of the devil in order to do evil. In a world where boring financial data, profit and loss statements, and complex macroeconomic events sway the everyday movement of stock prices and stock indices, one Rajkot-based stockbroker claimed last week that he spent more than Rs 8 crore to engineer a multi-day crash in the stock market with the help of esoteric black magic. Close “We are responsible to a great extent for today’s fall and the fall of the past few days in the market. You won’t believe it, but we have spent over Rs 8.5 crore today in kala jadu (black magic) to create … [Read more...] about A lone bear, black magic and a $235 billion stock market crash