India in renewed push to sell Air India, puts entire stake on the block - Yahoo News

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India in renewed push to sell Air India, puts entire stake on the block

An Air India Airbus A320neo plane takes off in Colomiers near Toulouse

By Aftab Ahmed and Aditi Shah

NEW DELHI (Reuters) - The government said on Monday it plans to sell its entire interest in Air India Ltd, in a renewed push to sell the airline after an attempt to auction a majority stake almost two years ago failed to draw any bids.

A document released on Monday showed March 17 as the deadline for submission of initial expressions of interest, and that any bidder must assume liabilities including 232.87 billion rupees ($3.28 billion) in debt.

Substantial ownership and effective control of the airline must remain with an Indian entity, the government also said.

The potential sale of an airline kept aloft by a $4.2 billion 10-year bailout in 2012 comes as the government divests of money-losing assets to manage the fiscal deficit.

The latest offer should garner significant response partly because it involves a clean exit by the government, said CAPA aviation consultancy India head Kapil Kaul.

"As the entire debt excluding aircraft debt is taken out of the deal, it signals a very determined effort to exit Air India to allow taxpayers' funds be utilised for the government's social agenda," said Kaul.

The government in 2018 to sell 76% of Air India and offload about $5.1 billion of its debt, with terms including the retention of all employees.

InterGlobe Aviation Ltd's <INGL.NS> IndiGo and Jet Airways Ltd <JET.NS> - which has since collapsed - initially showed interest but opted out after the terms were disclosed.

Steel-to-autos conglomerate Tata Group, widely viewed as a potential suitor for Air India, also decided not to bid after deeming the terms too onerous, sources told Reuters at the time.

A successful bidder would win control of Air India's 4,400 domestic and 1,800 international landing and parking slots at Indian airports, as well as 900 slots at airports overseas.

It would also get 100% of low-cost arm Air India Express and 50% of AISATS, which provides cargo and ground handling services at major Indian airports, the bid document showed.

The buyer would also have to provide 3% of the value of the airline's equity as stock options for permanent employees.

Air India has about 9,400 permanent employees and 3,600 fixed-term contract staff - including 1,850 pilots and 4,600 cabin crew - with benefits such as discount air tickets and pensions.

Its employees protested against the 2018 sale attempt, and it was not immediately clear if they would also resist the latest effort. The government said it will provide details on safeguarding employee interests in its final bid document.

A spokesman for the airline's employee union did not have immediate comment.

(Reporting by Aditi Shah and Aftab Ahmed; Writing by Euan Rocha; Editing by Muralikumar Anantharaman and Christopher Cushing)

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2020-01-27 07:41:15Z
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Boeing 777X: World’s largest twin-engine jet completes first flight - BBC News

Boeing has successfully completed the first test flight of the world's largest twin-engined plane, the 777X.

It comes as the firm attempts to boost its image after its 737 Max plane was grounded last year following two fatal crashes that killed 346 people.

The flight took off near Seattle and lasted four hours. Two attempts were called off this week due to high winds.

Further tests are needed before the aircraft enters service with Emirates next year.

• Victims' families slam report into 737 Max crashes

The 252-foot-long passenger plane had been due to launch this year but has been delayed by some technical difficulties.

The 777X is a larger and more efficient version of Boeing's successful 777 mini-jumbo. Standout features include folding wingtips and the world's largest commercial engines.

"It represents the great things we can do as a company," said 777X marketing director Wendy Sowers.

Boeing says it has sold 309 of the plane - worth more than $442 million each at list prices.

The plane will go head-to-head with the Airbus A350-1000 which seats about 360 passengers.

Boeing has been in crisis since the 737 Max crashes, which occurred within five months of each other - first in Indonesia in October 2018 and then in Ethiopia last March.

It is facing multiple investigations amid accusations that it sacrificed safety as it rushed to get its jets to customers. It is attempting to have the plane re-approved for flight.

The grounding of the 737 Max, which had been Boeing's best-selling plane, is estimated to have already cost Boeing more than $9bn.

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2020-01-26 13:20:23Z
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Boeing 777X: World’s largest twin-engine jet completes first flight - BBC News

Boeing has successfully completed the first test flight of the world's largest twin-engined plane, the 777X.

It comes as the firm attempts to boost its image after its 737 Max plane was grounded last year following two fatal crashes that killed 346 people.

The flight took off near Seattle and lasted four hours. Two attempts were called off this week due to high winds.

Further tests are needed before the aircraft enters service with Emirates next year.

• Victims' families slam report into 737 Max crashes

The 252-foot-long passenger plane had been due to launch this year but has been delayed by some technical difficulties.

The 777X is a larger and more efficient version of Boeing's successful 777 mini-jumbo. Standout features include folding wingtips and the world's largest commercial engines.

"It represents the great things we can do as a company," said 777X marketing director Wendy Sowers.

Boeing says it has sold 309 of the plane - worth more than $442 million each at list prices.

The plane will go head-to-head with the Airbus A350-1000 which seats about 360 passengers.

Boeing has been in crisis since the 737 Max crashes, which occurred within five months of each other - first in Indonesia in October 2018 and then in Ethiopia last March.

It is facing multiple investigations amid accusations that it sacrificed safety as it rushed to get its jets to customers. It is attempting to have the plane re-approved for flight.

The grounding of the 737 Max, which had been Boeing's best-selling plane, is estimated to have already cost Boeing more than $9bn.

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2020-01-26 12:22:17Z
52780571908500

Boeing 777X: World’s largest twin-engine jet completes first flight - BBC News

Boeing has successfully completed the first test flight of the world's largest twin-engined plane, the 777X.

It comes as the firm attempts to boost its image after its 737 Max plane was grounded last year following two fatal crashes that killed 346 people.

The flight took off near Seattle and lasted four hours. Two attempts were called off this week due to high winds.

Further tests are needed before the aircraft enters service with Emirates next year.

• Victims' families slam report into 737 Max crashes

The 252-foot-long passenger plane had been due to launch this year but has been delayed by some technical difficulties.

The 777X is a larger and more efficient version of Boeing's successful 777 mini-jumbo. Standout features include folding wingtips and the world's largest commercial engines.

"It represents the great things we can do as a company," said 777X marketing director Wendy Sowers.

Boeing says it has sold 309 of the plane - worth more than $442 million each at list prices.

The plane will go head-to-head with the Airbus A350-1000 which seats about 360 passengers.

Boeing has been in crisis since the 737 Max crashes, which occurred within five months of each other - first in Indonesia in October 2018 and then in Ethiopia last March.

It is facing multiple investigations amid accusations that it sacrificed safety as it rushed to get its jets to customers. It is attempting to have the plane re-approved for flight.

The grounding of the 737 Max, which had been Boeing's best-selling plane, is estimated to have already cost Boeing more than $9bn.

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2020-01-26 09:15:46Z
52780571908500

Boeing 777X: World’s largest twin-engine jet completes first flight - BBC News

Boeing has successfully completed the first test flight of the world's largest twin-engined plane, the 777X.

It comes as the firm attempts to boost its image after its 737 Max plane was grounded last year following two fatal crashes that killed 346 people.

The flight took off near Seattle and lasted four hours. Two attempts were called off this week due to high winds.

Further tests are needed before the aircraft enters service with Emirates next year.

• Victims' families slam report into 737 Max crashes

The 252-foot-long passenger plane had been due to launch this year but has been delayed by some technical difficulties.

The 777X is a larger and more efficient version of Boeing's successful 777 mini-jumbo. Standout features include folding wingtips and the world's largest commercial engines.

"It represents the great things we can do as a company," said 777X marketing director Wendy Sowers.

Boeing says it has sold 309 of the plane - worth more than $442 million each at list prices.

The plane will go head-to-head with the Airbus A350-1000 which seats about 360 passengers.

Boeing has been in crisis since the 737 Max crashes, which occurred within five months of each other - first in Indonesia in October 2018 and then in Ethiopia last March.

It is facing multiple investigations amid accusations that it sacrificed safety as it rushed to get its jets to customers. It is attempting to have the plane re-approved for flight.

The grounding of the 737 Max, which had been Boeing's best-selling plane, is estimated to have already cost Boeing more than $9bn.

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2020-01-26 07:35:47Z
52780571908500

Joey Kramer Shares Podium, Not Stage With Aerosmith at MusiCares - Ultimate Classic Rock

Aerosmith accepted MusiCares' Person of the Year Award last night with Joey Kramer on the podium, but they did not perform with him.

However, Kramer, whose bid to be reinstated behind their drum stool for this and tomorrow's spotlight at the Grammys was denied by a judge, was given an opportunity to speak at the ceremony, following Steven Tyler.  He said, "A shoutout for love and gratitude — to MusiCares, to all our fans, to my partners, to my forever-supportive wife Linda, and to you guys out there and the music industry.”

Kramer then left the stage, and Aerosmith performed four songs with John Douglas on drums. They began with "Big Ten Inch," followed "Sweet Emotion." H.E.R. then came on for "Dream On." Alice Cooper and Johnny Depp of Joe Perry's side project Hollywood Vampires closed it out with "Train Kept A-Rollin'." According to Yahoo! Music, as Tyler introduced the musicians, he said, "Joey Kramer, where are you? We love you, man!"

Kramer has not performed with the band in the past six months due to an injury. The band required him to audition to prove he could play at "an appropriate level," which he subsequently failed. The drummer responded with a lawsuit in the hopes that it would reinstate him in time for this weekend's ceremony and tomorrow's Grammy Awards, but a judge ruled against Kramer.

"Given that Kramer has not played with the band in six months and the dearth of available rehearsal time before the upcoming performances, Kramer has not shown a realistic alternative course of action sufficient to protect the band's business interests," the ruling declared.

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2020-01-25 14:02:00Z
CBMiSGh0dHBzOi8vdWx0aW1hdGVjbGFzc2ljcm9jay5jb20vYWVyb3NtaXRoLWpvZXkta3JhbWVyLXJldW5pdGUtbXVzaWNhcmVzL9IBAA

Tesla Cybertruck spied filming segment for Jay Leno’s Garage with Elon Musk - Teslarati

By Randell Suba

Posted on January 25, 2020

Tesla CEO Elon Musk and the futuristic Cybertruck were caught filming near SpaceX headquarters late Friday afternoon for an upcoming segment of Jay Leno’s Garage. Once again taking the spotlight at the Tesla Design Center in Hawthorne, CA, the site where the all-electric utility truck made its shocking world debut, camera and production crew were setting up to film a scene near the famed Tesla Supercharger monolith.

In the images sent to Teslarati, Elon Musk can be seen inspecting the rear of the Cybertruck and its motorized rear tonneau, as film crew busily prepared equipment for the camera truck that would follow the stainless steel pickup past SpaceX.

Cameras rolled as the Tesla Cybertruck made its way onto Crenshaw Blvd. in Hawthorne, CA, with the iconic Falcon 9 booster and SpaceX headquarters framed perfectly in the background. A black truck with a camera rig flanked the electric pickup truck.

Elon Musk inspecting Tesla Cybertruck prior to filming segment for Jay Leno’s Garage behind SpaceX HQ in Hawthorne, CA

Tesla Cybertruck filming a segment for Jay Leno’s Garage at the Design Center in Hawthorne, CA

Tesla Cybertruck near SpaceX HQ (Source: Anonymous Tipster)

Camera crew filming Tesla Cybertruck on Crenshaw Blvd near SpaceX HQ, Jan 25, 2020

The segment featuring the Tesla Cybertruck is expected to air on an upcoming episode of Jay Leno’s Garage. The talk show host and car enthusiast has been known to be a vocal supporter of Tesla and Elon Musk. Jay Leno has been quoted before saying that electric cars are the future and that these vehicles are far superior to internal combustion engines.

“I mean, the advantage of electricity. I have a Tesla. I’ve had it for three years. I’ve never done anything. There’s no fluids to change. There’s nothing. You know, For new technology to succeed, it can’t be equal. It’s got to be better. And they’ve (Tesla) sort of solved the battery problem. It can go 350 to 400 miles at a charge. There’s no maintenance. They’re faster than the gas car. So there’s almost no reason to have a gas car unless you’re doing long-haul duty,” the iconic show host said.

In 2018, the veteran comedian featured the next-generation Tesla Roadster on his automotive show where he talked about the supercar with Tesla’s chief designer Franz von Holzhausen. A few years before that, Leno gave his audience an up-close look at the 2012 Tesla Model S.

While Teslarati did not spot the Model Y  in Friday’s filming of the Cybertruck, rumors surfaced last week that Tesla’s much-awaited electric crossover Model Y will also be featured on Jay Leno’s long-running car show. This information was reportedly shared to a certain Tesla Model 3 owner Michael Hughes by a Tesla employee who gave him an early tour of the Model Y interior.

Below is a good look at the Tesla Cybertruck accelerating down Crenshaw Blvd. with the Model 3 chase car and camera truck not too far behind.

Tesla Cybertruck spied filming segment for Jay Leno’s Garage with Elon Musk

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2020-01-25 09:44:10Z
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