Business

British Airways to halt Beijing, Shanghai flights – PaxEx.Aero

Published

5 years ago

January 29, 2020

As health concerns mount and waiver options grow some airlines are going a step further in their response to the virus outbreak in China. British Airways is taking the significant step of halting its flights to Shanghai and Beijing effective immediately. A formal announcement is expected early Wednesday in London.

Based on documents reviewed by PaxEx.Aero the carrier’s flights BA39 and BA169 on 28 January 2020 will be the last flights in for a month. The crew working those flights will return as passengers and all downline crew will also return on the BA38 and BA168 flights leaving China on 29 January.

The statement set by airline executives to crewmembers reads, in part:

The situation regarding the new coronavirus in China is constantly developing and tonight the UK Foreign & Commonwealth Office position has changed, advising against all but essential travel to China. As you would expect, this situation has been monitored constantly for the last week and updates have been provided for our colleagues on the One portal. A contingency group has met again tonight (Tuesday) to define a plan and there will be a further operational update early on Wednesday.

The safety of our colleagues remains our priority. The aircraft currently airborne to PVG and PKX will return with all crew currently downroute in these locations… For our Chinese crew based in PKX and PVG who are currently on trips in London, we are making arrangements to get you home.

The company also notes in the memo that it is monitoring other stations in the region but will continue to operate those routes for now.

Inventory on flights through 29 February appears to be zeroed out indicating that the carrier expects the cuts to last at least that long.

The news follows on United Airlines announcing earlier today that it will cull 24 flights to Shanghai, Beijing and Hong Kong in the coming week.

.@united is suspending 24 flights China in the wake of the #coronavirus 2/1-2/8. Will still operate other flights to China.
“Due to a significant decline in demand for travel to China, we are suspending some flights between our hub cities and Beijing, Hong Kong and Shanghai” pic.twitter.com/dcCD4SgVZM

— Kris Van Cleave (@krisvancleave) January 28, 2020

The British Airways news is far more significant given the depth and duration of the cuts. It surpasses the waivers that had been issued by many airlines and the move by the Chinese government to curtail all group travel packages out of the country. The cuts are likely to increase in the coming days as more countries issue similar statements advising against travel to the region.

<!–

–>

Let’s block ads! (Why?)

Source link

Business

Restaurant Brands reports US$357M Q3 net income, down from US$364M a year ago

Published

10 hours ago

November 5, 2024

Anne Joseph

TORONTO – Restaurant Brands International Inc. reported net income of US$357 million for its third quarter, down from US$364 million in the same quarter last year.

The company, which keeps its books in U.S. dollars, says its profit amounted to 79 cents US per diluted share for the quarter ended Sept. 30 compared with 79 cents US per diluted share a year earlier.

Revenue for the parent company of Tim Hortons, Burger King, Popeyes and Firehouse Subs, totalled US$2.29 billion, up from US$1.84 billion in the same quarter last year.

Consolidated comparable sales were up 0.3 per cent.

On an adjusted basis, Restaurant Brands says it earned 93 cents US per diluted share in its latest quarter, up from an adjusted profit of 90 cents US per diluted share a year earlier.

The average analyst estimate had been for a profit of 95 cents US per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:QSR)

Source link

Business

Electric and gas utility Fortis reports $420M Q3 profit, up from $394M a year ago

Published

10 hours ago

November 5, 2024

Anne Joseph

ST. JOHN’S, N.L. – Fortis Inc. reported a third-quarter profit of $420 million, up from $394 million in the same quarter last year.

The electric and gas utility says the profit amounted to 85 cents per share for the quarter ended Sept. 30, up from 81 cents per share a year earlier.

Fortis says the increase was driven by rate base growth across its utilities, and strong earnings in Arizona largely reflecting new customer rates at Tucson Electric Power.

Revenue in the quarter totalled $2.77 billion, up from $2.72 billion in the same quarter last year.

On an adjusted basis, Fortis says it earned 85 cents per share in its latest quarter, up from an adjusted profit of 84 cents per share in the third quarter of 2023.

The average analyst estimate had been for a profit of 82 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:FTS)

Source link

Business

Thomson Reuters reports Q3 profit down from year ago as revenue rises

Published

10 hours ago

November 5, 2024

Anne Joseph

TORONTO – Thomson Reuters reported its third-quarter profit fell compared with a year ago as its revenue rose eight per cent.

The company, which keeps its books in U.S. dollars, says it earned US$301 million or 67 cents US per diluted share for the quarter ended Sept. 30. The result compared with a profit of US$367 million or 80 cents US per diluted share in the same quarter a year earlier.

Revenue for the quarter totalled US$1.72 billion, up from US$1.59 billion a year earlier.

In its outlook, Thomson Reuters says it now expects organic revenue growth of 7.0 per cent for its full year, up from earlier expectations for growth of 6.5 per cent.

On an adjusted basis, Thomson Reuters says it earned 80 cents US per share in its latest quarter, down from an adjusted profit of 82 cents US per share in the same quarter last year.

The average analyst estimate had been for a profit of 76 cents US per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:TRI)

Source link