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“This is the best news we’ve had” – Qantas brings forward international travel

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Qantas will bring forward its restart date of international flights for fully vaccinated travellers

Qantas and Jetstar will bring forward the restart of more international flights to popular destinations from Sydney and operate regular flights to Delhi, the first commercial flights for Qantas between Australia and India in almost a decade.

“This is the best news we’ve had in almost two years and it will make a massive difference to thousands of our people who finally get to fly again.”

Qantas Group CEO Alan Joyce said

The faster ramp up follows the Federal and New South Wales governments confirming that international borders would reopen from 1 November 2021 and the decision by the NSW Government to remove quarantine requirements for fully vaccinated arrivals – which significantly increases travel demand.

“Australia is ready for take off”

Australia’s pm said on friday

“We’ve said for months that the key factor in ramping up international flying would be the quarantine requirement. The decision by the NSW Government to join many cities from around the world by removing quarantine for fully vaccinated travellers means we’re able to add these flights from Sydney much earlier than we would have otherwise,” Joyce said.

These decisions – combined with plans by states and territories to reopen domestic borders – support all Qantas and Jetstar workers based in Australia and New Zealand who are currently stood down to return to work by early December 2021.

This includes around 5,000 employees linked to domestic flying and around 6,000 linked to international flying.

Due to extended border closures, many international crew have been stood down since the start of the pandemic.

All passengers on Qantas and Jetstar international flights (aged 12 years and older) will be required to be fully vaccinated with a TGA-approved vaccine (unless they have an exemption).

Qantas and Jetstar are preparing to ramp up capacity

The updated international schedule published today will allow flights from Sydney to Singapore, Bangkok, Phuket, Johannesburg, Fiji to resume ahead of schedule.

Qantas will also launch new route from Sydney to Delhi before Christmas.

Qantas and Jetstar are preparing to ramp up capacity between Melbourne and Sydney as quarantine-free travel is set to resume between Australia’s two largest cities

Pre-COVID, Melbourne-Sydney was the second busiest route in the world, with the Group operating up to 58 return services per day, but during the latest lockdowns this got down to as low as one return flight per day for essential travel only.

When the Victorian and NSW borders open, Qantas and Jetstar will operate up to 18 return flights per day, increasing to up to 37 return flights per day by Christmas.

Additional capacity will be added on other routes to and from Sydney and Melbourne, as restrictions are lifted by other states and territories.

“We’ve said for months that the key factor in ramping up international flying would be the quarantine requirement. The decision by the NSW Government to join many cities from around the world by removing quarantine for fully vaccinated travellers means we’re able to add these flights from Sydney much earlier than we would have otherwise,” Joyce said

“We hope that as vaccination rates in other states and territories increase, we’ll be able to restart more international flights out of their capital cities. In the meantime, Sydney is our gateway to the rest of the world.”

Fleet update

Qantas has further accelerated the return of its fleet of A380 aircraft.

Originally expected to remain in long term storage in the Californian desert until the end of 2023, the Group announced in August that five A380s with upgraded cabins would return from July 2022 to operate Los Angeles and London flights. This is now being brought forward a further three months, with two of the A380s to commence flights to Los Angeles from April 2022. One aircraft could arrive by the end of this year to assist with crew training ahead of its return to service.

A further three A380s will return to service from mid-November 2022 with the remaining five expected to return to service by early 2024.

Qantas is also looking to bring forward delivery of three brand new 787-9 aircraft, currently in storage with Boeing, several months earlier than planned as demand increases.

 

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Money

AI pushes the Nasdaq to a record-breaking close

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The Nasdaq achieved a record-breaking close, surpassing its previous record high of 16,057.44, which was established on November 21, 2021.

Artificial assistance

Artificial intelligence-related technology stocks, such as Nvidia (NVDA.O) and Microsoft (MSFT.O), have greatly boosted the index.

The Nasdaq Composite has increased by almost 7.2% this year.

The tech-focused index surged 43% in 2023, and as chipmakers gained traction and confidence increased that the Fed might achieve a soft landing—that is, curb inflation without inciting a recession—stocks surged strongly by year-end.

In contrast, Nvidia increased by 1.9% on Thursday, bringing its total gain from a year ago to around 250%.

Market boom

Every S&P 500 subs sector saw a gain at the end of the month.

Analysts at Deutsche Bank report that the index has now increased for 16 of the past 18 weeks, matching the record most winning weeks last attained in 1971.

Bitcoin also moved closer to its all-time high.

The price of the virtual currency momentarily surpassed $64,000 as spot bitcoin ETFs helped drive it to heights last seen in 2021.

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Money

Disney sign off on mega merger with India’s largest conglomerate

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India’s top conglomerate Reliance Industries and Walt Disney announced the merger of their India TV and streaming media assets, forming an $8.5 billion entertainment juggernaut.

Disney, Reliance sign non-binding agreement for India’s largest media conglomerate

Reliance, led by Asia’s richest man, Mukesh Ambani, will inject $1.4 billion in the merged entity, with the company and its affiliates holding a more than 63% stake, with Disney owning the rest, the companies said in a joint statement.

Mukesh Ambani, Reliance’s multimillionaire CEO

Media rivals

With two streaming platforms and 120 TV channels, the combined company will be a formidable opponent for competitors like Netflix and Sony of Japan in the $28 billion media and entertainment market, which is expected to grow to $100 billion by the end of the decade.

Disney’s lengthy battle to stop users from leaving its collapsing Indian streaming service and the financial burden resulting from billion-dollar payments for Indian cricket rights before the deal, providing yet another illustration of how difficult it can be for Western companies to expand in India.

Ultimate alliance

“The combined entity will create a sports behemoth in India,” stated Jinesh Joshi, an analyst at Prabhudas Lilladher in India.

“This merger will give Reliance great bargaining power when it comes to negotiating advertisement contracts … For Disney, coming together with a bigger player, in terms of (financial) pockets, will give it a cash cushion,” he continued.

According to the corporations, the combined company will serve the approximately 750 million viewers in India as well as the Indian diaspora worldwide.

According to Disney CEO Bog Iger’s statement, “Reliance has a deep understanding of the Indian market and consumer,” and the acquisition will enable “us to better serve consumers with a broad portfolio of digital services, entertainment, and sports.”

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Money

Warner Bros Discovery plans to shutdown popular NZ news network

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One of New Zealand’s two free-to-air television networks claimed it will be shutting down all newsroom operations, television news broadcasts and website from June 30, with the loss of up to 200 media jobs.

The once-thriving network, which had been a staple in the New Zealand entertainment industry, is now facing financial turmoil, sending shockwaves through the media landscape.

Warner Bros Discovery, who own the NZ news network, stated the decision comes following further attempts to reduce costs and that meant major changes including the planned shut down of the newsroom.

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