Connect with us

Business

Air Transat Finally Retires Its Last Airbus A310 – Simple Flying

Published

on


Air Transat flight TS765 from Porto, Portugal, touched down at Toronto Pearson Airport on Monday morning. The Airbus A310 carried Canadian citizens that had been stranded in Europe due to travel restrictions, on what was to be its last passenger flight before retirement.

One of Air Transat’s A310s has now completed its last passenger flight. Photo: Chris Loh/Simple Flying

Bowing out early but in style

The Air Transat A310 fleet had an average age of 29 years old, with some planes having been part of the airline’s fleet since 1999. Before that, they had served with a variety of carriers throughout the world. The recent unprecedented reductions to airline schedules are allowing airlines to retire older aircraft earlier than planned. This particular A310 got to bow out by returning from a special transatlantic mission. 

Air Transat’s Airbus A310s had already been scheduled to finalize their service for the airline, with a last flight scheduled on the 27th of April from Quebec to Paris and back again. Due to the large (to say the least) number of flight cancellations and schedule reductions, Transat has decided to retire its fleet of A310s early.

Advertisement

Instead of the scheduled Quebec City to Paris return trip that was initially planned for the aforementioned date, the last transatlantic run saw the plane make the journey from Porto to Toronto via Halifax, repatriating stranded Canadians.

Advertisement

Air Transat is replacing the old A310 aircraft with A321neos. Photo: Quintin Soloviev via Wikimedia Commons

Air Transat busy with repatriation

Air Transat has been actively flying repatriation flights to bring Canadians home from abroad. The Porto to Toronto flight was not the only rescue mission arriving on Canadian soil on Monday. Flight TS8706 also touched down at Montreal’s Pierre Elliot Trudeau International Airport from La Aurora Aiport, serving Guatemala City. This flight was operated by an Airbus A330.

Air Transat has operated several other rescue flights like these, and more are yet to come. They have flown Canadians from El Salvador and the Dominican Republic, and are now adding more special flights from these locations, as well as Haiti and Honduras, to the schedule. Any Canadian resident wishing to get on one of these flights should register with the Canadian Foreign Office. 

Air Transat owns 8 Boeing 737-800s. Photo: BriYYZ via Wikimedia Commons

A321LR taking over

Many airlines are retiring older aircraft earlier than planned as a result of the massive reductions in schedules. In many cases, they were maintaining aging aircraft in service to make up for the void that the grounding of the Boeing 737 MAX left in fleet capacity. Air Transat does not own any MAXs. Their only Boeing planes are 737-800s, of which the airline owns eight. 

Air Transat is replacing its aging A310 fleet with more modern A321neoLR aircraft. It has taken delivery of three so far and is set to receive another 13. All of Air Transat’s aircraft of this type will be leased from AerCap. It plans to use its new planes from Montreal to London and Copenhagen, as well as to destinations in France and Portugal. 

When was the last time you flew on an Airbus A310? Let us know in the comments! 

Advertisement

Let’s block ads! (Why?)



Source link

Business

Dow Notches Third-Straight Win as Bets on Faster Economic Recovery Continue – Investing.com

Published

on



© Reuters.

By Yasin Ebrahim 

Investing.com – The Dow climbed for the third-straight session as hopes of a faster economic recovery were given a boost on Wednesday amid signs the Covid-19 pandemic’s grip on the economy has passed.

The rose 2.05%, or 527 points, the gained 1.36%, while the added 0.78%.

With just days to go until Friday’s crucial nonfarm payrolls report, ADP (NASDAQ:) said that private payrolls fell by 2.76 million jobs in May, confounding economists’ for a drop of 9 million.

That marked a significant improvement from the 19.5 million job cuts seen in April, raising hopes the labor market losses have bottomed.

The services sector, which accounts for about two-thirds of overall economic growth, is also showing signs of life, with activity rising from the lowest level in 11 years in April.

 data for May showed a reading of 45.4, above forecasts for a reading of 44.

The duo of upbeat economic reports stoked investor hopes of a quicker economic rebound, underpinning cyclical sectors like financials and industrials.  

Financials jumped 4.4%, with banks leading the charge. JPMorgan (NYSE:NYSE:) was up 5.4%, Bank of America (NYSE:NYSE:) up 4.5% and Citigroup (NYSE:NYSE:) up 4.9%.

In industrials, Boeing (NYSE:) rallied 13% after reaching a compensation package and a new delivery deal with travel company TUI Group over the grounding of its 737 Max planes.

On the earnings front, Zoom Video Communications (NASDAQ:) jumped 6% after reporting first-quarter results that markedly beat expectations on the bottom and top lines as the pandemic spurred demand for its videoconferencing software.

Canada Goose (NYSE:) rose 18% after reporting a better-than-expected fiscal fourth-quarter profit. The outerwear retailer also said it would increase focus on direct-to-consumer sales in the early stages of the reopening phase.

Elsewhere, Warner Music (NASDAQ:) made a bright start to life as a publicly-traded company, rallying 21%. The music label company had priced its offering of 77 million shares at $25 per share.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Let’s block ads! (Why?)



Source link

Continue Reading

Business

2 Stocks to Buy and Hold Forever – The Motley Fool Canada

Published

on


For part-time investors, it can be difficult to stay on top of your portfolio holdings. This is especially true during times of significant volatility. It is why investors should choose which stocks to buy carefully. 

If you don’t have the time to actively monitor your positions, owning over 50 stocks may not be the right approach. If you are holding a large portfolio in an effort to diversify, you may be over extending yourself. 

The purpose of diversification is to reduce unsystematic risk. Research has shown that the benefits of diversification tops out at around 30 positions. The diversification benefits only inch up marginally for every position added afterwards. 

Keeping all this in mind, what is the best approach for the part-time retail investors? Identify stocks to buy that can be held forever. These are best-in-class, blue chip stocks that will act as foundational stocks in a portfolio. 

Railway stocks to buy

The railway industry is dominated by two players, Canadian Pacific Rail (TSX:CP)(NYSE:CP) and Canadian National Railway (TSX:CNR)(NYSE:CNI). They form a duopoly and as such, have some of the widest moats in the country. 

Although both make excellent investments, the top stock to buy today is CN Rail. The railway is trading at 4.47  times book value, a steep discount to peer CP Rail (6.73). CN Rail’s debt burden is also much less, with a debt-to-equity ratio of 0.79. For its part, CP Rail’s D/E ratio is sitting at 1.28.

Similarly, CN Rail is a Canadian Dividend Aristocrat. It has a dividend growth streak that spans 24 years, the tenth longest in the country. At 1.94%, the yield is also double that of CP Rail (0.94%). Over the past decade, CN Rail has averaged 15.6% annual dividend growth. 

Looking forward, analysts are expecting a down year in 2020 – not surprising given the current pandemic. Still, the company is only expected to see earnings dip by about 8% before rebounding in a big way (+17%) in 2021.

CN Rail is one of the safest stocks to buy. You can buy without having to check up on the company daily to see if the investment thesis has changed. 

A top bank

In today’s environment, financial stocks are under pressure. Not even Canada’s Big Banks are immune, and most are sitting on significant losses. However, recent results are proving once again that Canada’s banks are resilient and are top stocks to buy — perhaps none more so than Royal Bank of Canada (TSX:RY)(NYSE:RY)

As Canada’s largest bank, it has the means to come out on the other side of this pandemic on solid footing. Just as it did during the Financial Crisis, it appears that RBC will escape the current pandemic with a dividend cut. 

Now yielding 4.84%, investors can lock in a yield close to record highs. During this pandemic, Royal Bank has been the best-performing bank. Despite losing 13.06% of its value, it is far outpacing the majority of its peers. 

Despite bouncing off March lows, Royal Bank is still trading at only 1.6 times book value and 11.44 times earnings. Both of which are below historical averages. 

RBC is proving once again to be a top stock to buy and is one of the best hold forever options for investors. Unless the entire economy and banking system goes belly up, investors can sleep well knowing Royal Bank is anchoring their portfolios with stable and reliable returns.

If you are looking for other top stocks to buy today, check out the attractive investment opportunities.

The 10 Best Stocks to Buy This Month

Renowned Canadian investor Iain Butler just named 10 stocks for Canadians to buy TODAY. So if you’re tired of reading about other people getting rich in the stock market, this might be a good day for you.
Because Motley Fool Canada is offering a full 65% off the list price of their top stock-picking service, plus a complete membership fee back guarantee on what you pay for the service. Simply click here to discover how you can take advantage of this.

Click Here to Learn More Today!


Fool contributor Mat Litalien owns shares of Canadian National Railway. David Gardner owns shares of Canadian National Railway. The Motley Fool owns shares of and recommends Canadian National Railway. The Motley Fool recommends Canadian National Railway.

Let’s block ads! (Why?)



Source link

Continue Reading

Business

Canadian major telcos effectively lock Huawei out of 5G build – ZDNet

Published

on



Image: Shutterstock

Canadian carriers Bell and Telus announced on Tuesday that each of them would not be continuing the use of Huawei equipment in their respective 5G networks, having signed deals with the Chinese giant’s rivals instead.

For Bell, it announced Ericsson would be supplying its radio access network. It added that it was looking to launch 5G services as the Canadian economy exited lockdown.

Bell, which in Febraury announced it had signed an agreement with Nokia, said it was maintaining the use of multiple vendors in its upcoming network, as it had for 4G.

“Ericsson plays an important role in enabling Bell’s award-winning LTE network and we’re pleased to grow our partnership into 5G mobile and fixed wireless technology,” said Bell chief technology officer Stephen Howe.

Meanwhile, the British Columbia-based Telus also chose to go with a combination of Ericsson and Nokia.

The company said it had spent CA$200 billion on its network since the turn of the century, and would part with a further CA$40 billion over the next three years to deploy its 5G network.

Both Bell and Telus had previously used Huawei equipment in their networks. In February, Telus told the Financial Post it would be using Huawei in its 5G network.

The third member of the Canadian major telco triumvirate — Rogers — said in January it would be using Ericsson equipment for its 5G rollout.

The decisions from Canada’s three major carriers now mean Huawei is increasingly isolated from 5G builds within the Five Eyes nations.

In Australia, Huawei has blamed its ban on supplying 5G equipment for a fall in its carrier business and net profit.

Huawei is also at the centre of the trade dispute between the United States and China, with Washington recently clamping down on Huawei’s semiconductor supply, with companies needing an export licence to sell to the Chinese giant.

Although not officially banned, Huawei has not made inroads in New Zealand after GCSB prevented Spark from using Huawei kit in November 2018.

Meanwhile in the United Kingdom, although it in January decided to limit the involvement of Huawei — restricting it to a 35% cap of all radio equipment and preventing the Chinese giant from supplying any equipment in the core of the network, as well as banning the use of Huawei equipment at sensitive locations such as nuclear sites and military bases — reports last month said that the decision would be reviewed.

Canada is also the centre of the furore involving the extradition of Huawei CFO Meng Wanzhou, following her arrest in December 2018.

Last week, the British Columbia Supreme Court ruled the extradition could proceed. CBC reported that the presiding judge ruled that the fraud that Meng has been accused of would be a considered a crime in Canada, as well as the United States.

Meng, the daughter of Huawei’s founder, is currently on bail where she is required to stay confined to one of her two Vancouver homes between 11pm and 6am. In the United States, Meng currently faces an indictment for allegedly misrepresenting Huawei’s ownership and control of its Iranian affiliate, Skycom, to banks, which breached UN, US, and EU sanctions.

Two Canadians, Michael Kovrig and Michael Spavor, who were detained by Chinese authorities soon after Meng’s arrest, recently clocked up 500 days in confinement.

“Not only are their conditions terrible but they are cut off from any meaningful connection and at this time of pandemic they seem to be even more remote,” former Canadian ambassador to China David Mulroney told The Globe and Mail.

“It’s a hostage-taking and the ransom demand is Meng Wanzhou.”

Related Coverage

Let’s block ads! (Why?)



Source link

Continue Reading

Trending