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Wednesday, 31 October 2012

Kindergarten Co-Pilots : An Airplane transformed into kids' School




A headteacher in the Georgian city of Rustavi has found an unusual way to get children's early education off the ground -- by transforming an airplane into a kindergarten.
Gari Chapidze bought the old but fully functional Yakovlev Yak-42 from Georgian Airways and refurbished its interior with educational equipment, games and toys but left the cockpit instruments intact so they could be used as play tools.



Jet Airways, Air India resume flights to storm-hit US
Economic Times
Air India would operate AI-101 Delhi-New York and AI-191 Mumbai-Newark (EWR) flights in the wee hours tomorrow, while Jet Airways would operate its flights 9W-228 and 9W-227 to and from EWR via Brussels, spokespersons of both the airlines said.
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Economic Times
Airlines in India fix prices, Federation of Indian Airlines works as cartel ...
Times of India
MUMBAI: In a scathing attack against domestic carriers on price manipulation, GR Gopinath, entrepreneur and founder of India's first low-cost airline Air Deccan saidairlines in India fix prices and the Federation of Indian Airlines or the FIA which is ...
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Times of India
Kingfisher Airlines to vacate hangars at Chennai, Kolkata airports
NDTV
Debt-laden Kingfisher Airlines will not be allowed to resume operations until the carrier submits a plan that's acceptable to the Airports Authority of India (AAI), the chairman of the airport regulator told NDTV Profit today. The chairman, V.P ...
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AMR's American Airlines Settles Litigation With Sabre
Bloomberg
(AAMRQ)'s American Airlines settled litigation with Sabre Holdings Inc., the flight data and reservation business that American spun off in 2000 and later accused of trying to crush competition from its former parent. The companies renewed their ...
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Airlines will take time to recover from storm
Hindustan Times
Air travelers are facing days of frustration as disruptions from the virtual shutdown of the air travel system in the US East Coast, ripple out nationally and across the world, airlines struggle to put the pieces back together. Airlines have cut so ...
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Hurricane Sandy's force hits European airlines, insurers and markets
Economic Times
PARIS: Hurricane Sandy, which hammered New York again on Tuesday, has had an economic impact well beyond the limits of its already impressive physical size, with European stock and oil markets, airlines and insurance companies all affected.
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Economic Times
Singapore Airlines-Virgin Australia Deal: Defending the Kangaroo
Wall Street Journal (blog)
Singapore Airlines Ltd.'s decision to buy a 10% stake in Virgin Australia Holdings Ltd. Tuesday is a smart move at protecting its prized “Kangaroo route,” analysts say. According to Bank of America Merrill Lynch, the Kangaroo route, which flies the day ...
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Wall Street Journal (blog)
FIIs increase shareholding in Kingfisher Airlines, cut in Jet Airways and SpiceJet
Economic Times
CHENNAI: In a speculative bet, foreign institutional investors have increased their shareholding in debt-ridden Kingfisher Airlines while cutting their exposure in seemingly better-placed rivals Jet Airways and SpiceJet. The latest shareholding data...
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Economic Times
NY, NEWARK AIRPORTS REOPEN: Airlines face big task returning travel to ...
Malaya
NEW YORK –– Superstorm Sandy grounded more than 18,000 flights across the Northeast and the globe, and it will take days before travel gets back to normal, but limited air travel is expected to return to the New York City metro area on Wednesday.
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Lufthansa steps up Cost Cuts as results beat forecasts



Deutsche Lufthansa will widen its cost-cutting drive to counter rising fuel prices and sluggish growth in its core market, it said on Wednesday after announcing better-than-expected results.

Lufthansa shares gained 6.6 percent to the top of Germany's blue-chip DAX index after cost savings helped its third-quarter operating profit rise to 648 million euros, beating the consensus of 479 million euros in a Reuters poll.

Lufthansa warned some of the additional cuts it plans would be "painful", which some analysts said could indicate more job cuts. The carrier said it would not provide details before the end of the year.

"The environment in which we have to operate is getting more and more demanding," said the German airline's Chief Executive Christoph Franz.

Lufthansa has already frozen investments, announced job cuts and is combining its loss-making European short-haul unit with its low-cost carrier Germanwings to improve its earnings.

But recent economic data shows business sentiment in its core markets in Germany, Austria and Switzerland - so far relatively robust in the crisis - is deteriorating as companies struggle with a bleaker economic outlook.

"The climate is becoming rougher," Franz said.

Europe's biggest airline by revenue had already warned in September that gains from its cost-cutting programm - dubbed SCORE - would be offset by high jet fuel prices and a slowing economy, as well as fees and materials costs.

COST OF FUEL

Fuel costs, which gobble up a third of traffic revenues, surged in the third quarter after jet fuel climbed back above $1,000 per tonne in September, or 14 percent higher than last year. A stronger U.S. dollar also makes it more expensive for Lufthansa to buy fuel.

Lufthansa said it expected its fuel costs to rise 1.1 billion euros to about 7.4 billion this year.

Europe's established airlines, hit by competition from discount carriers and Gulf rivals, are restructuring to reduce costs. Among others, Air France-KLM is shedding about 5,000 jobs, with Lufthansa cutting 3,500.

Analysts expect IAG to announce a new restructuring plan for Iberia on Nov. 9, having completed one for British Airways last year. Loss-making Scandinavian airline SAS said on Tuesday it would slash costs and sell assets.

For Lufthansa, a focus on slimming down its cost base is already paying off. In the third quarter, its operating profit exceeded forecasts thanks partly to a strong performance by its revamped Austrian Airlines business, recovering from years of losses.

Revenues rose 6.2 percent to 8.31 billion euros, above a consensus of 8.229 billion.

DZ Bank analyst Robert Czerwensky said the figures were very good but that they could weaken Lufthansa's position in talks with cabin crew, who went on strike in September, causing more than 1,000 flight cancellations.

Rival Air France-KLM also reported a rise in operating profits for the quarter on Wednesday. The third qurter is traditionally strong a period for European airlines which usually benefit from summer travel.

Lufthansa reiterated its 2012 forecast that operating profit would be in the mid-hundreds of millions of euros. That does not include restructuring costs, which it said it now expects to be no more than 100 million euros this year as talks with unions on some measures planned as part of SCORE are dragging on.




































Lufthansa steps up Cost Cuts as results beat forecasts











Air France-KLM Earnings Beat Estimates With Lufthansa
Businessweek
Other European airlines are also cutting costs. SAS Group, the biggest Nordic airline, said yesterday it plans to sell assets worth 3 billion kronor ($450 million) and shave the same amount from costs. That's on top of steps including 300 job cuts ...
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UPDATE 2-Lufthansa steps up cost cuts as results beat forecasts
Reuters
"The environment in which we have to operate is getting more and more demanding," said the German airline's Chief Executive Christoph Franz. Lufthansa has already frozen investments, announced job cuts and is combining its loss-making European ...
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SAS Lifts Profit, Seeks $900 Million in Cuts, Disposals
Businessweek
Other European airlines are also cutting costs. Regional No. 1 Air France-KLM (AF) Group is eliminating jobs, merging units and boosting no-frills flights to head off a fourth straight annual loss. The plan helped pare its second-quarter operating loss ...
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Tuesday, 30 October 2012

Recession's legacy has food-bank usage soaring in Canada



Kathryn Adams, a Democrat all her 56 years, chokes for a moment as she speaks.

“Life is so much harder now for so many people than it was four years ago,” says Adams, a Methodist campus minister at Youngstown State University in Ohio, describing the struggling families she has served in soup kitchens and the declining collections at the local churches that support her work.

“Too many people are hurting, and it’s time for a change,” she said, in explaining why she plans to vote against Barack Obama, the man she backed for president in 2008.

Even as the darkest days of the recession have passed, times are still tough in Youngstown and surrounding industrial towns along the Mahoning River, a cradle of the steel industry in northeastern Ohio. Boarded-up homes and empty storefronts are common, and many families are stretching shrinking paychecks.

Ohio’s economy is doing better than most states in the U.S. Thus, Mitt Romney’s hopes of winning Ohio, which every successful Republican presidential candidate has done, depend on the uneven nature of a recovery that continues to hit hard some traditionally Democratic areas.

Fewer than a third of the 20,300 jobs that the Youngstown metropolitan area lost during the recession, which ended in June 2009, have been replaced, according to the Bureau of Labor Statistics. In Steubenville, a steel town along the Ohio River 60 miles to the south, unemployment in August was 10 percent.

‘Cleared the Way’
Other parts of Ohio are doing well, with the auto industry’s comeback following the Obama-backed government rescue and a state jobless rate that fell to 7 percent in August. Republican Governor John Kasich, a Romney ally, has celebrated Ohio’s progress.

“We just really kind of cleared the way for people to feel confident that they can invest here,” he said on NBC television’s “Meet the Press” on Oct. 28.

Even in the Mahoning Valley, the unemployment rate has plummeted from 13.3 percent in March 2010 to 7.9 percent in August, close to the national average, according to the BLS. Rarely during the decades-long decline of the region’s steel industry has Youngstown’s jobless rate come close to matching the national average.

Still, the recession and its aftermath struck a lasting blow to the region. Many workers have taken deep pay cuts. Average weekly earnings among private-sector workers in September were down 16 percent compared with five years earlier.

Giving Up
The improving unemployment rate masks the difficulty of finding a job, much less a good one. More people have left the labor force -- either because they moved out of the area or gave up looking for work -- than have found new jobs.

The number of suicide threats, and requests for food aid and utility assistance, climbed in the first nine months of this year from a year earlier at the regional Help Hotline Crisis Center. Christine Shehadi, an emergency room nurse at St. Elizabeth Health Center in Youngstown, said her department treats about two patients a week after suicide attempts, many of them men who have lost their jobs.

Though the region never experienced the run-up in real estate prices that other parts of the country did, more than 16.8 percent of homes in the metropolitan area were worth less than their mortgages as of June 30, according to CoreLogic, a real estate information company based in Santa Ana, California.

Steubenville Suffering
In Steubenville, the economy has shown fewer signs of life. Only about 800 of the 5,600 jobs lost in that metropolitan region since the December 2007 start of the recession had been regained as of September.

Four years ago, Obama barely won Steubenville’s Jefferson County, in the conservative Appalachian region of the state, carrying the county by just 76 votes out of more than 36,000 cast. The economic decline makes the county a greater challenge this year.

Youngstown’s Mahoning Valley is a durable stronghold of organized labor. Mahoning County and neighboring Trumbull County, with less than 4 percent of the state’s population, supplied more than 22 percent of Obama’s victory margin in Ohio four years ago.

The traditional Democratic route to victory in Ohio demands not just a win in northeast Ohio. It calls for a big win.

The travails of workers in the region, however, took a toll on the party’s vote in the 2010 midterm elections.

The combined Democratic victory margin in Mahoning and Trumbull counties in the governor’s race dwindled to 49,786 votes from 92,047 four years earlier and in the U.S. Senate race to 21,307 in 2010 from 80,403 four years earlier. Democrats won both offices in 2006 and lost both in 2010.




Spain recession drags on with no aid in view
Reuters
MADRID (Reuters) - Spain fell deeper into recession in the third quarter and prices rose sharply in October, piling pressure on the government to revive a paralyzed economy as it stalls over requesting aid. Prime Minister Mariano Rajoy is in no hurry ...
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BOJ eases policy as recession risk mounts
Reuters
... Bank of Japan expanded its asset purchases by 11 trillion yen ($138 billion) on Tuesday, easing monetary policy for the second straight month amid heightened pressure for bolder action to fight deflation and support an economy on the cusp of recession.
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Ohio Steel Towns Feeling Recession Fallout Waver on Obama
Businessweek
Even as the darkest days of the recession have passed, times are still tough in Youngstown and surrounding industrial towns along the Mahoning River, a cradle of the steel industry in northeastern Ohio. Boarded-up homes and empty storefronts are common ...
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Recession's legacy has food-bank usage soaring in Canada
Globe and Mail
A record number of Canadians visited a food bank this year, an indication therecession's legacy continues to bite. More than 882,000 people used a food bank this March, a 2.4-per-cent increase from last year. Demand is now 31-per-cent higher than...
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Globe and Mail
AP survey: Economic ills may defy next president
Boston.com
Europe's recession will persist deep into the next presidential term, according to a majority of the 31 economists who responded to the survey. A weaker European economy would shrink demand for U.S. exports and cost U.S. jobs. Yet there's little the ...
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Debt crisis: Spanish recession deepens - live
Telegraph.co.uk
Although Spain is struggling with recession, the country's prime minister has so far refrained from seeking the precautionary credit line from the eurozone that would trigger the bond-buying scheme and curb the country's borrowing costs. Mariano Rajoy ...
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Telegraph.co.uk
Mood of the Nation: Business owner spending less
San Jose Mercury News
People were asked about jobs, housing, gas prices, retirement and other issues. Among them was Hilda Mitrani, 51, of North Miami Beach, Fla. The Great Recession and slow economic recovery have devastated her public relations and marketing business.
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Recession Shakes Baby Boomer Retirement Confidence: AARP
Millionaire Corner
As baby boomers approach their retirement years, many find themselves, to quote the Bob Seger lyric, running against the wind. Post-recession financial insecurity is forcing many to rethink their retirement plans, according to a recent AARP report ...
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Spanish Recession Deepens
Action Forex
Spanish recession deepened as GDP Q3 y/y data printed at -1.6% from -1.3% prior read (q/q -0.3 vs. -0.4% prior read). While in Germany, unemployment claims rose 20k, taking the unemployment rate to 6.9%. The slightly positive news came from the Italian ...
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