Exclusive: Russia starts stripping jetliners for parts as sanctions bite

This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine MOSCOW, Aug 8 (Reuters) – Russian airlines, including state-controlled Aeroflot (AFLT.MM), are stripping jetliners to secure spare parts they can no longer buy abroad because of Western sanctions, four industry sources told Reuters. The steps are in line …

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Alain Finance collaborates with Network International for credit card launch in the UAE

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Alain Finance, a private joint stock company that specializes in designing and offering alternative financing solutions to small and medium enterprises (SMEs) across the UAE, has announced the launch of its credit card offerings in the UAE and collaboration with Network International (Network), the leading enabler of digital commerce across the Middle East and Africa …

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Transportation M&A nightmare worth the trip

Analysis: Spirit Airlines winning bidder may need years to recoup price tag

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July 12 (Reuters) – The bidding war for Spirit Airlines Inc (SAVE.N) between Frontier Group Holdings Inc (ULCC.O) and JetBlue Airways Corp (JBLU.O) may leave the acquirer taking years to earn back their investment. JetBlue’s latest cash-and-stock bid values Spirit at $ 3.7 billion, while Frontier’s latest cash-and-stock bid, which Spirit recommends its shareholders should …

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US hotels spin travel demand into gold as airlines struggle

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A man exits the Four Seasons Hotel, which was later clarified by President Donald Trump’s official Twitter channel as not the Four Seasons location mentioned for the legal team’s press conference, in Philadelphia, Pennsylvania, US November 8, 2020. The press conference was subsequently held at the Four Seasons Total Landscaping company in Philadelphia. REUTERS / …

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Lufthansa sees return to full-year profit as travel picks up

US banks finally see upturn in credit-card borrowing

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NEW YORK, June 10 (Reuters) – Big US banks including JPMorgan Chase & Co (JPM.N) and Citigroup (CN) appear set for some earnings boost from a pick-up in the battered credit-card business, but a possible recession would pull consumers back and bring losses on outstanding loans. Last week, JPMorgan Chairman and CEO Jamie Dimon warned …

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US adds 25 Airbus planes operated by Russian airlines to export violation list

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A Ural Airlines Airbus A321-200 airplane takes off from the airport in Palma de Mallorca, Spain, July 29, 2018. Picture taken July 29, 2018. REUTERS / Paul Hanna Register now for FREE unlimited access to Reuters.com Register WASHINGTON, Aug 2 (Reuters) – The US Commerce Department on Tuesday will add 25 Airbus airplanes operated by …

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Sunbit issues credit card

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Sunbit, the company building financial technology for everyday expenses, announced that it has expanded beyond point-of-sale lending with the introduction of a new, next-generation credit card. The Sunbit Card delivers unprecedented flexibility and a personalized APR for every approved consumer. In addition to standard credit card functionality, cardholders can choose to pay in full or …

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Inflation begins to strain finances of young, low-income Americans

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A shopper wearing a face mask is pictured at a Dollar Tree store in Pasadena, California, US, June 11, 2020. REUTERS / Mario Anzuoni Register now for FREE unlimited access to Reuters.com Register NEW YORK, Aug 1 (Reuters) – As high inflation forces Americans to spend more on gas and bills, young and low-income consumers …

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