Profits for the second-largest carrier in the US have plummeted amid the ongoing pandemic due to a steep decrease in passenger demand, it was stated during the firm’s third quarter reports. United Airlines has reported adjusted losses per share of $8.16 compared to $4.07 last year, much lower than estimated of $7.53, Smarter Analyst reported on Thursday. According to the Chicago-based carrier, the airline’s average daily cash burn was $25m in Q3, down from $40m in the second quarter, due to a 59 percent reduction in operating costs. But revenues fell 78.1 percent year-on-year to $2.49bn, falling short of estimates of […]
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In a piercing appraisal of the growing strife unraveling under President Donald Trump’s first term, Democratic presidential nominee Joe Biden accused him of stoking, and even starting, civil unrest that is proliferating across the country. Trump has been a “toxic presence in our nation for four years” who is “poisoning our very democracy,” Biden said forcefully in Pittsburgh, Pennsylvania. The speech offered a moment of methodical, even urgent, messaging for Biden, who sought to cast the president as an unjust and dangerous leader who spews falsehoods in an effort to gain a political advantage. “This president long ago forfeited any moral […]
Until February 2020, when a satellite on orbit ran out of propellant, that was the end of its life. Most major communications and military satellites are designed with prolonged lifetimes and carry enough fuel for a 15 year mission. But the struggle for some satellite operators has been that at the end of that 15 year period, satellites running out of fuel are still working perfectly well in every other regard. Therefore, perfectly good satellites have to be decommissioned. But not anymore. See Also Galaxy 30 & MEV-2, BSat-4B LIVE NGIS Public Section L2 NGIS Section Click here to Join L2 […]
The news comes as one of the world’s top defence firms is set to release its second quarter earnings for 2020 later in July, which could reveal figures on losses due to COVID-19 and others. Top executives from eight defence firms in the US have urged the US government to ensure billions will not be reallocated to other firms affected by the ongoing coronavirus pandemic without replacing the funds, Reuters reported on Wednesday. Defence firms Lockheed Martin Corp, Raytheon Technologies Corp, BAE Systems Inc, General Dynamics, Boeing Co’s defence wing, L3Harris Technologies Inc, Huntington Ingalls Industries and Textron Inc published separate […]
The Stellar Development Fund (SDF) has loaned micropayments firm SatoshiPay $550,000 in XLM tokens after the coronavirus pandemic put the kibosh on its Series A funding round. Under lockdown in his Berlin flat, SatoshiPay CEO Meinhard Benn told CoinDesk via Google hangout the Series A, which was to have been finalized by the start of Q2, “fell apart” at the last minute because of the coronavirus pandemic as it became impossible to arrange meetings with potential investors, and market turbulence led to previously committed investors to pull out. Through its Enterprise Fund, SDF had already pledged $550,000 to the Series A. […]
This article was published originally by PassBlue, a partner of The Daily Beast which provides independent coverage of the United Nations. It was written by Irwin Arieff. A year ago, Kelly Craft was serving as Washington’s frequently absent ambassador to Canada, soon to be en route to the United Nations. Her spouse, the coal baron Joseph Craft III, was knee-deep in a Trump administration assault on federal rules aimed at safeguarding the environment, slowing climate change and protecting miners and other breathing Americans from the illnesses, injuries and deaths linked to the burning of coal. What a difference a pandemic can make. The Crafts […]
The Russian government has allocated 23.4 billion rubles ($316 million) to support domestic airlines, which are suffering tremendous losses as a result of coronavirus-related restrictions. The subsidies were unveiled on the government website early Thursday following Russian President Vladimir Putin’s call to support the troubled sector. According to the document, air carriers will have to use at least 60 percent of the funds on wages for their employees. The rest can be spent on leasing payments (30 percent at most), payments for aircraft parking, as well as other operating activities. The companies will have to wait 20 work days after applying […]