Airbus Group wins the contract for the Philippine Airlines' new aircraft order worth $1.8 billion. The Southeast Asian carrier is looking forward to carry passengers to New York and U.S. West coast.
Travel
A350 Increased Sales Boost Airbus Earnings to 1.6%, Equalled A380
Due to the increased sale of Airbus superjumbo A380, the company's earnings rose to 1.6% last year. The aircraft maker is hoping another boost in its earnings this year because of the overwhelming order bookings from different countries.
Venture Capital Investment in Space Startups Surged in 2015
Based on a report from defense and aerospace consulting firm there was a huge increase for investment in space travel during 2015. Space startup investment in last year were accounted two-third of the 15 years in total.
Virgin Galactic unveils new space tourism rocket plane
Richard Branson's Virgin Galactic venture unveiled a new passenger spacecraft on Friday, nearly 16 months after a fatal accident destroyed its sister ship during a test flight over California's Mojave Desert.
GuestLogix begins sale, investment process
Canadian company GuestLogix Inc has received court approval for implementing sale and investment solicitation process (SISP). Canaccord Gunuity Corp will be financial advisor to the company under the SISP. The bidding process is being executed in a phased manner.
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Aircraft manufacturers are expecting the market in South East Asia to grow. Ahead of Singapore Air Show this week, competition between low-cost carriers in the region also become the concern.
Anthony Foxx is expected to sign a deal in Havana on Tuesday. The deal will allow resumption of commercial flights between the two countries. All the major airlines are expected to take part in the bidding of commercial flights towards different destinations of Cuba.
Two prominent investors in Lyft Inc sold some shares to Saudi Arabia's Prince Al-Waleed bin Talal for $148 million. The latest deal puts Lyft's valuation at $5.5 billion from $275 million in May 2013.
The airways announced new cabin design, completed with enhanced technology system to meet travelers' needs nowadays. Besides in-flight internet connection, they also improved new entertainment system with new features and bigger database. The timing of these new improvements coincides with JetBlue's sixteenth anniversary.
Airport ride-hailing service Wingz closed its Series B funding with $11 million on Monday. Expedia led the funding with participants from ltimeter Capital and Marc Benioff, CEO of Salesforce.com.
Uber generated more revenue in 2015 than in the previous year. However, the company experience more losses in order to pursue growth.
As winter storm is heading toward East Coast this Friday, flight disruption is expected. Airlines are offering refund and waiver to customers whose flight schedule is affected by the snow storm.
After acquiring Lyft Inc, GM has also purchased ride hailing pioneer, Sidecar. The acquired entity has been tattering in consecutive years for ever growing competitions with rivals like Uber and Lyft. With the acquiring, GM now will be able to play a more active role in relative fields with the new two subsidiaries.
Michigan appears to be the first US state to enjoy gas at $0.77 a gallon. The states closer to the refineries or containing those, enjoy gas at a relatively cheaper price. In the blink of further oil price fall, the US states, who are badly hit due to falling oil price, are considering to increase gas tax. These states aim to continue development works in communication sector, which they are unable to allocate with the problem riddled economies.
