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Equity Market News 19th May 2012

Equity Org Headlines:

Essar Energy adds 3 percent in mostly lower London energy sector

Antofagasta leads miners higher in London

Hunting plc leads energy sector lower

Sports Direct International leads London retailers higher

Pace plc drops 40 percent on profits warning

Royal Bank of Scotland leads London banks lower

Royal Bank of Scotland leads banks, FTSE 100 higher in London

Lloyds Banking Group drops 8 percent on first-quarter loss

Lloyds shares down on PPI claims

Aquarius Platinum adds 7 percent amid mostly lower mining sector

25/04/05

Permalink 07:16:27 pm, Categories: New York NYSE, 184 words  

Air Canada returns to Boeing

Air Canada will buy 14 787s and 18 777s from Chicago-based Boeing, for a total of around $6 billion.

Deliveries will begin next year for the 777s and the 787s will be delivered beginning in 2010. Besides these firm purchases, Air Canada also took options for 46 additional 787s and 18 777s.

This is a significant win for Boeing over it’s European rival Airbus, as the Canadian air carrier had previously replaced all its Boeing aircraft with Airbus and Bombadier CRJ regional jets.

Air Canada has seen rapid expansion of its Asian and Latin American routes due to passenger preference to fly into Toronto and Vancouver when traveling between Asia and the Latin American countries since U.S. visa and security restrictions have tightened.

The airline recently announced plans for daily non-stop flights to Beijing, Shanghai, and Guangzhou.

Air Canada’s chief executive said Monday that the 787 would be the more economical aircraft, saving about 30 percent in fuel efficiency and costs for maintenance compared to the 767s currently in use.

With 217 total orders and commitments for the 787, Boeing’s shares advanced nearly 3 percent to $59.50 in early trading on Monday.

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