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EasyJet income strained by Brexit, terror attacks

EasyJet Plc’s annual profit fell for the first time since 2009 as a spate of terror attacks clipped demand and the decline of the pound following Britain’s vote to quit the European Union inflated foreign-currency costs. Pretax profit for the 12 months ended Sept. 30 is expected to have been in the range of 490 million pounds to 495 million pounds ($623 million-$630 million), Luton, England-based EasyJet said in a trading update Thursday. That’s below the 516 million-pound figure based on analyst estimates compiled by Bloomberg. It’s also about 28 percent lower than 2015’s earnings. The stock tumbled to its lowest level in more than three years. EasyJet ceased providing full-year guidance after the June 23 Brexit decision, after initially saying earnings would match a consensus analyst estimate of 738 million pounds. …

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Manila South Harbor ready for cargo surge this coming holidays

Manila South Harbor, one of two international gateway ports into the country’s capital, is capable of handling the surge of international container volumes at the Port of Manila, including the 4th quarter cargo rush in the coming holiday season, according to its operator, Asian Terminals, Inc. (ATI). Last month, Manila South Harbor handled over 100,000 twenty-foot equivalent units (TUEs) of international containers for the first time in a single month. Prior to this, the harbor broke its all-time record volume twice, handling over 94,000 TEUs in May and in excess of 95,000 TEUs in June. So far, Manila South Harbor’s production has averaged above the industry standard of 25 gross moves per crane per hour (GMPH), and even recorded world-class levels of over 30 GMPH in previous months, which are comparable to the …

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Uber seeks to expand operations in Japan

By Sean Mclain Tokyo – Uber Technologies Inc., mostly blocked from operating its core ride-hailing service in Japan, is searching for alternate routes to profit in the world's third-largest economy. The company is trying to link up customers with licensed taxi drivers – instead of the private car owners it relies upon in the US Uber is using limited exemptions to operate a US-style service in rural areas that lack access to public transport. And on Thursday, the company brought its UberEats food-delivery service to parts of Tokyo. Those efforts are in lieu of what Uber would really like to do in Japan: offer urban dwellers a way to hail an inexpensive ride instead of a taxi. The San Francisco-based company, whose brand is largely unknown in Japan, thinks it can reach that …

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Airlines pin low-carbon future on fuels nobody has mass produced

The airline industry’s plan to ease its impact on global warming hinges on fuels made from vegetable oil, corn and household garbage. The hitch: Nobody has ever been able to produce the stuff in the volumes needed. JetBlue Airways Corp., United Continental Holdings, Inc. and Richard Branson’s Virgin Group Ltd. have begun blending eco-friendly substitutes into traditional jet fuel made from kerosene. Even with that backing, there’s still only a handful of producers of the fuels. They lack the capacity to crank out the billions of gallons needed to supply the global aviation fleet, and the pace of investment is slowing. Even so, airlines are staking their low-carbon future on renewable fuels. The aviation industry, responsible for more than 2 percent of greenhouse gases, is being pushed to act this week by …

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Airbus tightens belt with new corporate shake-up

By Robert Wall London – Airbus Group SE is to merge headquarters and eliminate an unspecified number of management jobs in a new restructuring plan to improve profitability and focus more squarely on its largest unit that makes airliners. Airbus Chief Executive Tom Enders said that the restructuring would yield significant savings, facilitate faster decision making, and narrow a profitability gap to rival Boeing Co. Europe’s top aerospace company said that it will integrate the headquarters for the group and the commercial-jetliner operation for which Airbus is best known. The merged entity will carry the Airbus name from January 1, 2017. “We aren’t just trying to get leaner at the shop-floor level, we are really starting at the top of the company,” Mr. Enders said. Merging the corporate structure with the jetliner unit soon should …

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US to press WTO to enforce ruling on Airbus subsidies

Washington  – The Obama administration said Monday that it will press the World Trade Organization to enforce a panel report that found the European Union guilty of maintaining illegal subsidies to Airbus. The US Trade Representative plans a special meeting at the WTO on October 14 as it defends US aircraft producer Boeing’s market position against what it calls unfair competition from its European rival. That follows the September 22 finding of a WTO appeals board that the European Union failed to end illegal subsidies for Airbus. The US wants the WTO to formally adopt the appeals panel’s findings, and ‘’will press for the rapid enforcement of those findings in a special meeting of the WTO’s Dispute Settlement Body,’’ the US Trade Representative’s office said in a statement. ‘’We will not tolerate our trading …

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Dubai to become world’s busiest airport this decade – CEO

Dubai International Airport expects to become the world’s busiest within this decade, overtaking Beijing and Atlanta, spurred on by the expansion of Emirates airline. The airport, which overtook London Heathrow, sees passenger traffic climbing to 83 million this year from 78 million last year and expects 90 million people using the facility next year, Paul Griffiths, the chief executive officer of Dubai Airports, told Bloomberg TV in an interview. “The growth rates that we are experiencing are more than double what is being experienced by both Beijing and Atlanta,” Griffiths said. “Within perhaps this decade, we should see ourselves exceeding the total traffic through those airports for the number 1 absolute spots.” Dubai, already the world’s busiest airport by international traffic, added 7.5 million passengers last year. While Atlanta Hartfield-Jackson, the main hub …

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Mitsubishi may delay delivery of first jet to ANA; tech change needed

Mitsubishi Aircraft Corp. may delay the delivery of Japan’s first domestically made passenger plane to the first customer ANA Holdings, Inc. because of possible technical modifications to the aircraft. The builder of the Mitsubishi Regional Jet, set for delivery in mid-2018, is conducting a close study on whether there may be a delay in development with involved parties, Miho Takahashi, a spokeswoman for Mitsubishi Aircraft, said by telephone Monday. The company informed ANA of the possible holdup in late September, and the carrier will decide on a response only if a delay is confirmed, said Maho Ito, a spokeswoman at the airline. The Mitsubishi Regional Jet, aimed at challenging the dominance of Brazil’s Embraer SA and Canada’s  Bombardier, Inc. in the market for planes with fewer than 100 seats, suffered recent setbacks …

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Delivery giants prepare for holiday packages

Holiday hiring is expected to be flat at package-delivery giants FedEx Corp. and United Parcel Service, Inc., but that masks efforts behind the scenes to prepare for the coming wave of e-commerce orders. FedEx is opening four new hubs and "dozens" of small, satellite facilities to receive, sort and ship an expected surge in packages between Thanksgiving and Christmas, executives said this week. UPS is expanding a network of temporary sorting hubs and is increasing its use of software to help sort packages faster, a spokeswoman said. Both companies have also invested in automation so they can process more packages over the holidays while keeping staffing levels relatively steady. If their projections hold, FedEx and UPS will have kept the number of seasonal workers steady for two years running, at over 50,000 …

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Global trade slowdown to dampen PH shipping volumes

A slowdown in global trade and weak demand for Philippine products are seen to dampen shipping volumes to and from the Philippines. The Asian Development Bank (ADB) said in its Asian Development Outlook (ADO) Update that among the threats to sustained economic growth for the Philippines this year will be weaker-than-expected demand from major markets for Philippine exports. In the ADO Update, ADB raised the forecasts for the gross domestic product (GDP) growth this year to 6.4 percent from its March projection of six percent. But for 2017, growth is seen to dip slightly to 6.2 percent although still above the previous forecast of 6.1 percent. The World Trade Organization (WTO) also reduced its global trade forecast, warning that anti-globalization rhetoric and Brexit were pushing trade growth to its slowest pace since Britain’s …

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