Tesla enjoys revenue record, thanks to pollution credit sales to rivals

Tesla enjoys revenue record, thanks to pollution credit sales to rivals

Tesla Inc on Wednesday reported its fifth consecutive quarterly profit on record revenue of $8.8 billion, boosted by an uptick in vehicle deliveries and sales of environmental regulatory credits to other automakers. The electric car maker also affirmed its target to deliver half a million vehicles by the end of …

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Cathay Pacific to lay off 25% of staff

Cathay Pacific to lay off 25% of staff

Cathay Pacific announced plans Wednesday to cut its workforce by nearly a quarter and close one of its short-haul airlines in an effort to survive the "devastating" impacts of the coronavirus pandemic. Across the globe, airlines have been hammered as the pandemic has slashed international travel, and they face a …

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Pandemic spurs buy-up of debt-laden airlines in China

Pandemic spurs buy-up of debt-laden airlines in China

(ATF) Consumer demand for flights has recovered, but China’s smaller private airlines are running out of working capital. Local governments have stepped in to “bargain hunt” for new owners and turned these airlines into local sweethearts. Several have been nationalised – Ruili Airlines, Hongtu Airlines and Qingdao Airlines – but …

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Travel bubble first hopes to boost HK, Singapore air industry

Travel bubble first hoped to ease HK Singapore air industry

(ATF) A pioneering flight travel bubble arrangement has been signed between Hong Kong and Singapore, restoring connections between the Asian entrepots that had been grounded to halt following the spread of coronavirus. In what they two cities called a groundbreaking first, passengers will have to undergo a swab test for …

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Malaysia to stop funding state airline if lessor talks fail

Malaysia to stop funding state airline if lessor talks fail

SINGAPORE: The parent of Malaysia Airlines has warned leasing companies that state fund Khazanah will stop funding the group and force it into a winding down process if restructuring talks with lessors are unsuccessful, according to a letter seen by Reuters. The warning from Malaysia Aviation Group (MAG), the holding …

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Tesla to roll out China-made Model 3 cars with cobalt-free batteries

Tesla to roll out China-made Model 3 cars with cobalt-free batteries

BEIJING: US electric vehicle maker Tesla is poised to start selling some Model 3 vehicles made in China equipped with cobalt-free lithium iron phosphate (LFP) batteries, two people familiar with the matter said. Currently the Model 3 electric sedans made at the carmaker's Chinese plant use nickel-manganese-cobalt (NMC) batteries. The …

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Lufthansa to cut more jobs as virus pummels travel

Lufthansa to cut more jobs as virus pummels travel

Lufthansa said on Monday it will slash more jobs on top of 22,000 previously announced cuts and put more planes out of service as the coronavirus continues to crush travel demand. The German airline group said in a statement it was losing some 500 million euros ($590 million) a month, …

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