As the pandemic continues to ground jets across the world, Malaysia Airlines is selling theirs
Malaysia Aviation Group has launched a tender for the sale of six Airbus A380-800 aircraft or their components.
The company made the announcement in a post to LinkedIn on Thursday.
MAG, which is the parent of national carrier Malaysia Airlines and underwent a restructuring earlier this year, invited interested buyers to send in proposals to either purchase the aircraft or parts.
Malaysia Airlines has been looking for some time to dispose of its A380 fleet, deeming the superjumbo aircraft as non-profitable.
It follows the Group Chief Executive Officer Captain Izham Ismail leading the airline towards completion of its debt restructuring.
Ismail stated the group was convinced that the fleet did not fit its future plans, as it “restrategised to position its business as a global travel group”.
More airlines ditch the A380
Airbus has now officially concluded its A380 programme – meaning the aircraft maker does not plan to build any more of the double-decker jets.
The aircraft has been popular with Middle Eastern carrier, Emirates, the worlds largest operator of the superjumbo jet.
But other airlines are moving away from it, citing it not viable due to its operational costs and massive fuel consumption.
Some may fly again
Australian airline, Qantas has grounded all of its A380’s however CEO Alan Joyce says ‘they will fly again’
The Aussie carrier saw the superjumbo operate on popular routes between Australia and the US, Australia and Singapore as well as Australia and the Middle East.
McDonald’s plans massive expansion with 9,000 new burger joints by 2027
Fast-food giant McDonald’s has unveiled an ambitious plan to open nearly 9,000 new burger joints across the globe by 2027.
The move comes as part of the company’s aggressive growth strategy to maintain its dominance in the competitive fast-food industry.
McDonald’s, known for its iconic golden arches, currently operates over 38,000 restaurants in more than 100 countries.
With this expansion, the company aims to tap into emerging markets while also strengthening its presence in existing ones. The plan includes opening new outlets in urban centres, shopping malls, and even smaller towns, catering to a diverse range of customers.
The expansion drive is expected to create thousands of jobs, from front-line crew members to management positions, offering economic opportunities in various communities.
Furthermore, McDonald’s will continue to focus on sustainability, with commitments to reduce its environmental footprint through eco-friendly practices and packaging.
As the fast-food giant prepares to embark on this ambitious journey, the focus keyword for Google SEO is “McDonald’s expansion.”
Citigroup’s enormous billion dollar restructuring cost revealed
Citigroup, one of the world’s largest financial institutions, is undergoing a significant restructuring effort that comes with a hefty price tag of $1 billion.
However, this massive overhaul is now anticipated to extend beyond the current quarter and will likely stretch into the next.
The restructuring plan, which was initially expected to conclude this quarter, involves a comprehensive review of Citigroup’s operations, aiming to streamline its business processes and enhance efficiency. The bank has been facing mounting pressure to adapt to changing market conditions and technological advancements.
The delay in completing the restructuring has raised concerns among investors, as the prolonged uncertainty can impact the bank’s financial performance. Citigroup’s leadership remains committed to the plan, emphasising the importance of getting it right rather than rushing through the process.
Despite the cost and delay, Citigroup remains optimistic about the long-term benefits of the restructuring, which include improved profitability and competitiveness in the financial sector.
British American Tobacco issues warning on future of U.S. brands
British American Tobacco (BAT) has raised concerns about the long-term viability of its US-based cigarette brands, marking a significant shift in its outlook on the American market.
The company is now planning a massive $31.5 billion writedown, reflecting its dim view of the future prospects for these brands.
BAT, one of the world’s leading tobacco companies, has traditionally maintained a strong presence in the US market through brands like Newport and Camel. However, changing consumer preferences, stricter regulations, and the rise of alternative tobacco products like e-cigarettes have put pressure on the traditional cigarette industry.
The company’s decision to write down the value of its US brands highlights the challenges it faces in a market that is evolving rapidly. BAT is expected to focus more on the development and marketing of reduced-risk products and alternative nicotine delivery systems.
This strategic shift may have significant implications for BAT’s future operations and the broader tobacco industry. It remains to be seen how the company will navigate this changing landscape and whether it can adapt to the shifting preferences of consumers.
Taylor Swift named Time magazine’s Person of the Year
Andrew Forrest demands fossil fuel executives’ accountability at UN COP28
Australian spy chief unveils ‘top secret’ data cloud project
Crypto.com accidentally transfers $10.5m to woman instead of $100
What is happening between SHIB and Vitalik? | TICKER VIEWS
Russia has cancelled itself. But the world should beware of poking the Russian bear￼
Tech2 days ago
Amazon taps SpaceX for satellite launch, bypasses Bezos
Leaders6 days ago
Transforming Diversity with Impactful Passion
News3 days ago
Will TV regulation become irrelevant in the future?
News2 days ago
UK introduces tougher visa rules to curb immigration
Tech3 days ago
Sam Altman and Elon Musk’s feud revealed
Tech2 days ago
Google’s AI bot faces delay
News3 days ago
The reason petrol is suddenly cheaper
News4 days ago
COP28: Global effort to phase out fossil fuels