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The moves come even as Jet scrambles to secure emergency funds and its lenders try to hurry through a sale process to identify an investor willing to acquire a majority stake in the airline and attempt to turn it around. Lenders are likely to invite binding bids from four shortlisted suitors, private equity firms TPG Capital and Indigo Partners, Indian sovereign wealth fund National Investment and Infrastructure Fund, and the UAE’s Etihad Airways that already owns a minority stake in Jet, local media reported.
TPG declined to comment, while the other three did not immediately respond to a request for comment from Reuters, Jet will be forced to shut down as soon as Wednesday if it does not get emergency funding from its lenders, two sources familiar with the matter told Reuters on Tuesday, Jet CEO Vinay Dube said on Tuesday in a letter to employees, seen by Reuters, that the carrier had stressed to its lenders the need for some urgent funding, critical to the continuation of its operations, At its peak, Jet had over 120 planes and hundreds of daily flights, The airline, once India’s leading private carrier, has been forced in sterling silver etched frame rectangle engravable cufflinks recent months to cancel hundreds of flights to dozens of domestic and overseas destinations..
BEIJING (Reuters) - Cathay Pacific Airways Ltd Chief Executive Rupert Hogg said he was “relatively confident” the air cargo market would pick up in the second half after a weak start to the year. “We tend to do quite well in cargo but the volumes do go up and down due to general economic sentiment,” he told Reuters on the sidelines of a media event in Beijing on Wednesday. “I’m relatively confident that cargo will get stronger in second half this year.”.
The Hong Kong-based airline is one of the world’s largest cargo carriers and has previously said it was keeping a close eye on U.S.-China trade tensions, Cathay Pacific has said that its cargo volumes fell by 5.5 percent in the three months ended March 31, but that the decline was smaller in March than in January and February, The International Air Transport Association last month nearly halved its annual forecast for traffic growth in the air cargo market to 2 percent, citing trade frictions, Brexit and anti-globalization sterling silver etched frame rectangle engravable cufflinks rhetoric..
(Reuters) - At a truck stop in Ridgefield, New Jersey, driver Paul Richards reviews a notebook where he tracks miles driven and what he is hauling. His paycheck is down about 25 percent from the same period a year ago, and his weekly miles have dropped as well. “This hasn’t been a very good week,” said Richards, who carries building materials and recycled goods through the U.S. Northeast. “Last week wasn’t, either.”. Across the United States, drivers, regional operators and industry officials say the $700 billion U.S. trucking sector slipped in late 2018, with the fall continuing into this year. While the decline in freight rates and hauling does not suggest the United States is headed into a recession, that softness is consistent with slippage in the economy as a whole.
The effects have been uneven nationwide, with weaker orders and miles in the U.S, Midwest and Southeast than on the West Coast, economists and regional officials said, Trucking accounts for 70 percent of U.S, shipment tonnage, and is key to supplying the manufacturing, construction and retail sectors, all of which showed sluggishness in the first quarter, The most common factors for the decline include the U.S.-China trade war and weakness in the Farm Belt, An ACT Research index of truck carrier volumes that surveys about 60 fleets crossed into negative territory in sterling silver etched frame rectangle engravable cufflinks November for the first time since July 2016, It briefly returned to positive territory in January but dipped again in February, It matches forecasts for a soft first quarter for U.S, gross domestic product, which is expected to come in at 1.8 percent growth, according to Reuters polling..
“Clearly, the economy is slowing down,” Kenny Vieth, president of ACT Research, said in a recent interview. “When the economy moderates, the trucking industry can be exceptionally worse than the overall economy because of the deep cyclical trend that characterizes the industry.”. To be sure, another indicator, the American Trucking Associations tonnage index, is at a healthy level at 117.4, still far above recession-era levels between 2008 and 2012, when it remained below 90.
The industry’s softness sterling silver etched frame rectangle engravable cufflinks is not uniform nationwide, Reuters spoke to 47 out of 50 state trucking associations, and of those that responded, 16, including Illinois, Wisconsin, Ohio and Tennessee, said activity had slowed, Another 16 said there was little change, and the rest could not say one way or another, Shipments in the Midwestern and Southeastern United States have been hit harder than other regions, according to Bobby Holland, vice president and director of Minneapolis-based U.S, Bank Freight Data Solutions, In the Midwest, export tariffs on crops have hurt agricultural sales, and auto production is also moderating, he said..