Travel

- A + A (May 18): A welcome revival in travel and cargo demand helped Singapore Airlines Ltd narrow losses in the second half of the fiscal year through March, though the high price of oil weighed on the carrier, its annual results showed. The airline’s net loss in the October-March period was S$125 million (US$90 million), it said in a statement Wednesday, compared with a loss of S$804 million a year earlier. Sales more than doubled in the six-month period to S$4.79 billion. Singapore started unraveling tight Covid-19 travel restrictions in September, allowing fully-vaccinated people from certain countries to enter without having to quarantine — a boost to the flag carrier, which had suffered record losses in the height of the pandemic. With Singapore further loosening curbs in April, quarantine-free entry is available for inoculated travelers from anywhere. “Key markets around the world have further eased travel restrictions, supporting a strong recovery in … [Read more...] about Singapore Airlines’ second-half loss narrows as travel picks up

Southwest Airlines will begin offering faster Wi-Fi, bigger overhead bins, and USB power outlets at all its seats. The improvements will be phased in over five years, and are part of a plan to spend $3.5 billion per year on capital improvements . The airline also said it will double the movies available to watch during flights. The announcement should be welcome news to many Southwest frequent fliers, especially those who travel for business. The move is likely a response to both a current reality and a timeless truth. First, there's the unexpected growth in business travel. Business travel, like all travel, plummeted during the pandemic. Leisure travel has rebounded in the past year, as restrictions eased and people found themselves with disposable cash and a pent-up desire to get away from home. But business travel was supposed to be a different matter. As Zoom and other video chat platforms became more ubiquitous, many assumed they would come to replace many business … [Read more...] about Southwest Just Made an Announcement That Should Put Smiles on Customers’ Faces

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

Key Takeaways Analysts estimate adjusted EPS of $1.48 vs. $1.69 in Q1 FY 2022. U.S. comparable sales (excluding fuel sales) are expected to rise YOY, but at less than half the pace of the same quarter a year ago. Revenue is expected to barely increase for the second straight quarter as the boost from the pandemic continues to wear off. Walmart Inc. ( WMT ), one of the world's biggest retailers, enjoyed unusually strong earnings and revenue growth during the past two years. The key driver was consumers who changed their buying patterns in several ways during the pandemic. Walmart's e-commerce sales soared as people sheltering at home boosted their shopping online. And consumers also spent more on manufactured goods as they spent less on dining out and traveling. But these pandemic-related forces are beginning to lose momentum. As a result, Walmart's growth has begun to slow sharply. Investors will be watching whether Walmart can reverse its slowdown in growth when … [Read more...] about Walmart Q1 FY2023 Earnings Report Preview

MRT Corp chief executive officer Datuk Mohd Zarif Hashim (The Edge filepix by Sam Fong) - A + A JOHOR BAHRU (May 18): The Johor Bahru-Singapore Rapid Transit System (RTS) Link project is expected to play a major role in boosting economic activities, potentially becoming as huge as the Hong Kong-Shenzhen Western Corridor. Mass Rapid Transit Corporation (MRT Corp) chief executive officer Datuk Mohd Zarif Hashim said the RTS Link project’s value cannot be measured only from the point of view of its construction, as it should also take into account how it would be able to attract investments in the long run. “Investments made by the government should provide returns in the short and long term, so we are letting the people around the world know that there are plenty of opportunities to invest in Johor Bahru due to this RTS project. “Our wish is that one day the Johor Bahru-Singapore corridor will be a rival or match to the Shenzhen-Hong Kong corridor…that’s what we … [Read more...] about RTS Link can be as big as Hong Kong-Shenzhen Western Corridor

- A + A KUALA LUMPUR (May 18): Sunway Real Estate Investment Trust's (Sunway REIT) net property income (NPI) for the first quarter ended March 31, 2022 (1QFY22) jumped 77.4% year-on-year (y-o-y) to RM118.9 million from RM67.02 million driven by strong pick up in business activities for the retail and hotel segments due to the relaxation in movement restrictions. Earnings per unit rose to 2.96 sen from 0.94 sen a year earlier, Sunway REIT informed Bursa Malaysia on Wednesday (May 18). Quarterly revenue grew 47.67% to RM153.97 million from RM104.27 million underpinned by higher revenue from all segments. Gross revenue for the retail segment soared 83.5% to RM98.4 million from RM53.7 million a year ago, primarily contributed by strong performance from all retail malls on the back of pent-up demand, festive spending, relaxation of Covid-19 safety measures and marginal rental support. The hotel segment’s gross revenue increased 28.6% y-o-y to RM18.5 million compared … [Read more...] about Sunway REIT’s 1Q net property income jumps 77% on strong pick up in business activities

An IndiGo staffer allegedly called a distressed teen with disability a threat to other passengers. (Screengrab from video posted on Facebook by Manisha Gupta) The Directorate General of Civil Aviation (DGCA) has issued a show cause notice to private carrier IndiGo for denying boarding to a child with special needs , an official release said on May 16. The airline has been asked to explain within 10 days why action should not be initiated against it, the aviation sector regulator said. The incident, which drew flak towards IndiGo, was reported on May 7 at the Ranchi Airport. Citing safety risks, the airline staffers had denied boarding to a teenager with special needs. After the incident drew outrage, the DGCA had, in the past week, constituted a three-member inquiry committee to conduct a probe. "The committee has submitted its report," the official release said, adding, "The findings of the committee prima facie indicate inappropriate handling of passengers by the … [Read more...] about DGCA issues show cause notice to IndiGo for denying boarding to child with special needs

The United States Air Force announced the successful test of a hypersonic missile that can travel more than five times the speed of sound, according to a Monday press release. A Boeing B-52H Stratofortress launched the AGM-183 AGM-183A Air-launched Rapid Response Weapon (ARRW) off the coast of California Saturday, the press release stated. The missile is designed to strike long-distant targets in what the Air Force denotes as “contested environments,” or heavily defended areas. “This was a major accomplishment by the ARRW team, for the weapons enterprise, and our Air Force,” Brig. Gen. Heath A. Collins said. (RELATED: China’s Missile Technology Outpaces Rivals, Baffles Pentagon) The US Navy, in collaboration with the US Army, conducts a static fire test of the first stage of the newly developed 34.5″ common hypersonic missile that will be fielded by both services, in Promontory, Utah, U.S., in this handout image taken on October 28, 2021. Northrop Grumman/Handout via … [Read more...] about ‘Game-Changing’: Air Force Successfully Tests Hypersonic Weapon

Department of Homeland Security (DHS) Secretary Alejandro Mayorkas pleaded with migrants Tuesday to not trust smugglers who offer to bring them into the country, even as they cross illegally in droves. “Do not place your lives in the hands of individuals who only seek to exploit your lives for the sake of profit. We are building safe, orderly and humane pathways to access the benefits that the law provides and that Congress has passed,” Mayorkas said during a border trip to McAllen, Texas. “But, traveling from one country to another in the hands of smugglers only to be met by the enforcement authorities of the United States government is not the way to achieve relief. The laws of the border will be enforced.” (RELATED: Migrants Bused To DC Don’t Stay There. Here’s Where They’re Going) Southern border authorities encountered 234,088 migrants in April, 117,989 of which were released into the country. DHS is preparing for an influx of migrants in the coming months with the … [Read more...] about ‘Not The Way To Achieve Relief’: Biden’s DHS Chief Attempts To Dissuade Migrants As The Border Gets Overwhelmed

Share to Twitter Share to Linkedin Topline Fourteen Senate Democrats sent letters Tuesday to two data brokers demanding information about data they’ve distributed related to abortion clinic visits, as the prospect that the Supreme Court could soon overturn Roe v. Wade has sparked new concerns about how patients’ digital data could be used against them to enforce abortion bans. Key Facts The senators, led by Sen. Elizabeth Warren (D-Mass.), sent letters to SafeGraph and Placer.ai , following Vice reports that found SafeGraph sold location data of people who visited Planned Parenthood clinics and Placer.ai offered “heat maps” on its website showing where Planned Parenthood patients live. Calling the reports “appalling,” the lawmakers asked the companies to “immediately account for [their] problematic practices … and guarantee that [they] will eliminate these practices, and others like them, completely and permanently.” The lawmakers … [Read more...] about Senate Democrats Demand Answers About Tech Companies Sharing Data From People Who Get Abortions