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The only criterion for increasing the supply in Porto is the “profitability” of the solution.

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The only criterion for increasing the supply in Porto is the "profitability" of the solution.

The President of the Executive Committee (CEO) of TAP said in Parliament on Tuesday that the only criterion for increasing the offer of routes at Porto Airport is that the solutions found are “profitable”. “Do not think that we are dishonest” in relation to the north and other regions of the country, urged Christine Urmier-Widener. TAP should start returning the money invested by the state in 2025.

“We immediately open any route that can earn money,” said the head of the airline, heard in the Commission on Economics, Improvement, Planning and Housing Construction. “There are no hidden agendas” in this regard, he added, agreeing that TAP has an obligation to serve all regions in the best possible way.

Christine Urmier-Widener has repeatedly stated that she will not comment on issues that have a “political” connotation. However, when asked by Deputy Carlos Guimarães Pinto of Illinois, he said that as CEO of TAP, he “always wants to do more and better” with regard to route offers from airports like Porto or Funchal.

“We are trying to do everything possible, given the limitations we have,” said Urmier-Widener. “TAP is on track to be efficient and sustainable, but we can’t go cheap. This is not our model,” said the president of the TAP executive committee.

The manager recalled that the company currently operates 10 direct routes and 17 weekly flights from Porto. Regarding Funchal, he stressed that the number of flights is increasing as Madeira is a “very important summer destination”.

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PSD’s deputy Jorge Mendez said that of the 260 scheduled arrivals and departures at Francisco Sa Carneiro airport on Tuesday, “only 46” (less than 20%) are TAP-operated flights. “I don’t see arrivals or departures to Brazil, the US or South Africa,” he said, referring to countries with strong Portuguese communities.

Christine Urmier-Widener assured that there were direct flights from Porto to Sao Paulo, Rio de Janeiro and New York on that day. He pledged to “increase the frequency” of Invicta’s flights to Rio “in the near future”, stressing that Francisco Sá Carneiro Airport is “very important not only for Porto and the Nordic region, but for the entire country.”

Start returning money to the state in 2025

The head of the airline also assured in response to Carlos Guimarães Pinto that it intends “as soon as possible” to return to the state the money it has invested in TAP, in line with what has already been done by other foreign companies in the sector. does. However, he did not agree to a date.

At a subsequent hearing, TAP Chairman Manuel Beja said that the company plans to start paying dividends to the state – the sole shareholder – in three years: “The forecast is that in 2025 we will start paying dividends as soon as we start to have a positive net result,” – he said.The company’s support is 3,200 million euros.

Urmier-Widener assured that TAP’s sustainability and survival was “absolutely possible”, saying he was “cautiously optimistic” in the face of future challenges. However, he warned that “higher fuel costs and a stronger dollar are obstacles that make it difficult” to complete the restructuring plan.

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TAP CEO mentioned that estimated fuel costs near 300 million euros above than previously forecast and 200 million more than in 2019. He also ensured that “no collective layoffs are planned,” also acknowledging that while the company has “some gaps” in terms of staff, it is “better equipped today than in the past to find talent.”

Left criticizes TAP for not listening to workers

Deputy Jose Carlos Barbosa, from PS, criticized the right – and especially the IL – for wanting to “liquidate” the TAR. The socialist stressed that the restructuring plan already guarantees “the preservation of 6,800 jobs” as well as the preservation of “hundreds of thousands of indirect jobs” in the companies that serve the company.

Antonio Topa Gomes, from PSD – the party that, together with the PS, asked for an audience with Urmier-Widener, stressed that the “main reason” to prevent the fall of TAP is the Portuguese diaspora. According to the Social Democrat parliamentarian, the “perception” of most Portuguese communities abroad is that the company “does not serve them”.

Andre Ventura, from He arrives, considered that TAP had a “duty” to “ensure the safety of routes to the north and the islands”, which the company’s CEO agreed. The MP also deplored the 25% pay cut for crew members, also saying that the restructuring plan involved a “very significant” cut in the “slots” available to TAP.

In addition to asking Urmier-Widener about the problem with Porto and when TAP will return the money to the state, Guimarães Pinto from Illinois, questioned the role played by the company. According to the MP, this is not suitable for all regions, and in Lisbon, the “slots” currently in the hands of TAP can easily be attributed to other companies that have attracted more people.

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Paula Santos, from PCP, wanted to know why the unions were “not hearing” about the restructuring plan, stressing that it was the workers who were “paying the bills”. Kommunist also stressed that out of 11 airlines restructured under plans drawn up by the European Commission (EC), “only one has survived,” arguing that Portugal should not “insist on the path of destruction.”

Mariana Mortagua from TO BE, cited that the “fundamental political issue” around TAP is that the EC, which the MP called a “technocratic” organization, has the legal right to decide how big a national airline should be. Blokist also mentioned that TAP workers “do not know the restructuring plan.”

TAP’s CEO, who described herself as “very pragmatic” during the hearing, said she understands workers’ demands for pay cuts. However, he cautioned, “It’s not because we’re flying at 90%.” [dos números] 2019 that we are in a good financial position,” he said, noting that the company “has not recovered yet.”

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Economy

What factors impact financial markets?

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The global financial markets are now hugely complex, with traders and analysts around the world looking closely for signs of movement. What are some of the most important factors to be aware of that impact the financial markets?

Geopolitical events

With news breaking from different countries throughout the day, many different stories could affect the markets on any given day. For instance, economic indicators such as the European Central Bank’s inflation rates and gross domestic product numbers released by each country can determine which direction the markets take. Stocks, currencies and other financial instruments can all vary depending on these areas.

Major events such as war breaking out, natural disasters and elections also have an effect. When we look at the commodities market, climate change is an issue to bear in mind, with unusual weather sometimes causing scarcity or abundance of a certain product.

An interesting aspect of the modern financial world is the way that the different markets are linked. This means that any important event or news story that affects one area could easily affect another, even if the link isn’t obvious at first sight. We can also see how local shocks and events can quickly have an effect at a global level.

The financial crisis of 2008 is a good example, as it started with a serious downturn in the US housing market. Although this appeared to be a localized issue at first, it soon revealed some major issues with the global banking setup that caused problems around the planet affecting millions of people and diverse industries.

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Speculation and investment trends

The previous factors all point toward the markets changing, and there’s no shortage of traders around the world waiting to see what happens next and how they can benefit. This means that we need to take into account other issues such as speculation and investment trends in the markets.

Armed with a variety of tools, including candlestick charts, traders try to identify trends such as support and resistance levels. They use the information they glean from the charts to make their moves, which can influence the general market if enough people make the same moves or if the amounts involved are significant.

Once an investment trend begins, it can have a knock-on effect that would have been impossible to predict at the outset. The example of Bitcoin and other cryptocurrencies shows how something that starts small can grow impressively. Cryptocurrencies have now gained enough mainstream appeal to influence and disrupt many industries, from healthcare to gaming and banking.

It’s important to understand how the leaders of a company operate and how they have faced challenges in the past. If we look at banking and the Bank of New York Mellon in particular, we can see that its history can be traced back to 1784, so it has overcome all the major events that have occurred since then. With some of the biggest names in the business world making up its key institutional investors, this is a company that we would expect to react effectively to changing markets.

Regulatory changes and company results

Just about every industry represented in the financial markets has laws and regulations that govern it. This means that the fear of harsher new laws is an almost constant threat. Meanwhile, the hope that beneficial changes to the regulations help businesses prosper is the other side of this matter that investors keep a close eye on.

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Let’s not forget the role played by the profit and loss results produced by major companies. It’s clear that these results have an almost immediate effect on their stock prices. However, we should also bear in mind that this effect can reach other areas of the economy. A surprising set of results for a large business can produce shock waves that travel around the market.

What impact do they cause?

From the wide variety of examples that we’ve looked at here, it’s clear that the impact isn’t going to be the same in every case. While one set of circumstances might snowball and cause a huge impact, another might cause a limited impact before the news disappears as other events overtake it.

Having said that, one of the key issues that they cause is a higher degree of market volatility. We can see how this works by looking at an area such as the COVID-19 pandemic in 2020. The markets became a lot more volatile as the different aspects of the pandemic became clear. Streaming companies, healthcare companies and video conferencing technology firms made huge profits, while airlines and hotels were among those to lose out massively.

Working out the overall impact of a particular situation is almost impossible to do now. With so many traders looking over the latest news stories and numbers with advanced tools, the original impact can quickly grow or simply disappear. Therefore, the key for investors is to understand emerging trends and react to them before it’s too late.

These details reveal how complex the global financial market is now. It’s a fascinating world, and with more information at our fingertips than ever before, it’s something that anyone can start to research and understand in their own way.

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Economy

Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners

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Everything has been delivered.  10 Bugatti Centodieci are already in the hands of the owners

OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.

“The Centodieci combines all the values ​​of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.

This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.

This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.

Recall that each unit costs the owners eight million euros before taxes.

Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.

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Economy

The first Dacia hybrid. “The cheapest hybrid family on the market”

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The first Dacia hybrid.  "The cheapest hybrid family on the market"

BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.

The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.

The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”

Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.

Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.

Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.

Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…

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