Published: Saturday, December 5, 2009
Korean Air orders five Boeing 747-8 passenger jets
Korean Air Co. said Friday that it will buy five 747-8 passenger planes in what will be a key deal for Boeing’s jumbo jet program. It has been three years since Boeing has won orders from a commercial airline for its revamped 747-8 passenger plane. Korean Air’s order, worth $1.5 billion at list prices, gives the program a crucial second customer. The deal comes after a recent visit to the country by President Barack Obama. Korean Air also announced in October that it will provide wing components on the 747-8. Since launching its 747-8 Intercontinental passenger plane, Boeing has received requests for just 27 jets — 20 from Germany’s Lufthansa and seven from undisclosed private VIP buyers. The company’s freighter version of the 747-8, which is set to debut first, has enjoyed greater commercial success with 78 orders. The freighter is set to take its first flight early next year with first delivery by the end of 2010.
Delta Air traffic drops 7 percent
Delta Air Lines Inc. said Friday that its November traffic fell 7.1 percent, by far the biggest drop among the major U.S. carriers. Delta flew 13.57 billion revenue passenger miles in November. The drop-off from November 2008 included an 11.2 percent drop in international traffic and a 4.6 percent drop in domestic traffic. The results include Northwest, which Delta bought last year. By comparison, November traffic rose 1.8 percent at United Airlines and 2.9 percent at Continental. It fell 1.6 percent at US Airways and fell 0.5 percent at American, although American’s figure didn’t include its regional traffic. November traffic jumped 11.7 percent at Southwest Airlines.
Ecuador accuses Chevron of pollution
The Republic of Ecuador has sued the Chevron Corp. as the two battle over liability for pollution in the Amazon rainforest. The suit was filed Thursday in U.S. District Court in Manhattan. Ecuador is asking the court to block an attempt by Chevron to force the dispute over the environmental damage into international arbitration. Separately, Chevron is defending itself against a $27 billion lawsuit in Ecuador brought by 30,000 inhabitants of a rainforest where illnesses have been blamed on contamination from oil drilling. Chevron says Ecuador, not the company, should have to pay any damages.
Kraft attempts Cadbury takeover
Kraft Foods Inc. took its $16.3 billion hostile takeover offer for Cadbury PLC straight to shareholders of the British candy company Friday. The deal is nearly unchanged from an earlier offer that was rejected by Cadbury. But by putting it directly in the hands of the shareholder, Kraft starts the clock on a series of regulatory deadlines to get the majority support it needs and may flush out rival bids. Cadbury declined comment but earlier expressed disinterest in the price offerend by Kraft.
From Herald news services
Delta Air traffic drops 7 percent
Delta Air Lines Inc. said Friday that its November traffic fell 7.1 percent, by far the biggest drop among the major U.S. carriers. Delta flew 13.57 billion revenue passenger miles in November. The drop-off from November 2008 included an 11.2 percent drop in international traffic and a 4.6 percent drop in domestic traffic. The results include Northwest, which Delta bought last year. By comparison, November traffic rose 1.8 percent at United Airlines and 2.9 percent at Continental. It fell 1.6 percent at US Airways and fell 0.5 percent at American, although American’s figure didn’t include its regional traffic. November traffic jumped 11.7 percent at Southwest Airlines.
Ecuador accuses Chevron of pollution
The Republic of Ecuador has sued the Chevron Corp. as the two battle over liability for pollution in the Amazon rainforest. The suit was filed Thursday in U.S. District Court in Manhattan. Ecuador is asking the court to block an attempt by Chevron to force the dispute over the environmental damage into international arbitration. Separately, Chevron is defending itself against a $27 billion lawsuit in Ecuador brought by 30,000 inhabitants of a rainforest where illnesses have been blamed on contamination from oil drilling. Chevron says Ecuador, not the company, should have to pay any damages.
Kraft attempts Cadbury takeover
Kraft Foods Inc. took its $16.3 billion hostile takeover offer for Cadbury PLC straight to shareholders of the British candy company Friday. The deal is nearly unchanged from an earlier offer that was rejected by Cadbury. But by putting it directly in the hands of the shareholder, Kraft starts the clock on a series of regulatory deadlines to get the majority support it needs and may flush out rival bids. Cadbury declined comment but earlier expressed disinterest in the price offerend by Kraft.
From Herald news services
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