Connect with us

Technology

Singapore Airlines to Replace 747 Freighter Fleet With Airbus A350

Avatar

Published

on

Singapore Airlines has signed a preliminary commitment with Airbus for seven of its new A350 large freighter aircraft to begin replacing the cargo division’s existing Boeing 747-400 fleet in the fourth quarter of 2025, the companies announced Wednesday.

Singapore Airlines Cargo operates seven 747 all-cargo aircraft. It also manages and processes cargo carried in the belly of the airline’s passenger fleet. 

Singapore Airlines is the world’s largest operator of the A350, with 56 aircraft currently in service across its network. 

The letter of intent with Singapore Airlines, outlining the primary terms of a pending deal, includes a swap with 15 A321neo and two A350-900 passenger aircraft that are in Singapore Airlines’ order book. Singapore said prioritizing the freighters over the passenger jets will allow it to manage capital expenditures as it continues to recover from the financial downturn caused by the pandemic.

The Singapore order is the third commitment received by Airbus for the new A350F over the past month. Air Lease Corp. (NYSE: AL) said it would take seven A350s in a cargo configuration, and ocean shipping and logistics conglomerate CMA CGM followed with a tentative order for four of the aircraft. 

Air cargo is a core business for Singapore Airlines, which has added capabilities in recent years to handle growing commodity lines such as e-commerce, fresh produce, and pharmaceuticals. In the first half of the fiscal year 2021-22, Singapore Airlines’ cargo revenue grew 51.2% to a …

Full story available on Benzinga.com

Original Article: benzinga.com

Technology

Truist Sees 350% Upside on This Cancer-Focused Biopharma Stock – Read Why

Avatar

Published

on

Truist has initiated coverage on Verastem Oncology Inc (NASDAQ: VSTM) with a Buy rating and $6.00 price target, equivalent to approximately 350% upside.
Analyst Srikripa Devarakonda notes that trading at about 2-times cash, the stock is “undervalued” given its programs in two cancers.
Devarakonda adds that the Verastem base case is supported by a $470 million unadjusted U.S. opportunity in the ovarian cancer program, “early but strong” clinical data, and positive expert feedback.
Related: 

Full story available on Benzinga.com

Article: benzinga.com

Continue Reading

Technology

“Peek Performance”: Apple’s Next Hardware Event Happens on March 8

Avatar

Published

on

Enlarge (credit: Apple)

Apple will stream its next hardware event to the masses on March 8 at 10 am Pacific (1 pm Eastern), the company announced today. Invitations have already been sent to the press—though the event will be yet another prerecorded, streaming-only presentation with no media in attendance. Apple marketing SVP Greg Joswiak tweeted the now-customary Apple-logo-centric teaser video that doesn’t actually tease anything.

We never know exactly what will be announced at any given Apple event, but Bloomberg’s Mark Gurman reports that the lineup will include a refresh of the budget-friendly iPhone SE and the first iPad Air update in a little over a year.

Rumors have also circulated about updated designs and new Apple Silicon chips for the MacBook Air and the 13-inch MacBook Pro, and the high-end Intel Mac Mini, the 27-inch iMac, and the Mac Pro are all still running Intel chips. The characteristically cryptic “peek performance” tagline does at least hint at new chips for one or more Macs, whether that’s a truly next-gen Apple M2 for thin-and-light laptops or an M1 Pro/Max-focused refresh for the more powerful desktops.

Read 1 remaining paragraphs | Comments

Original Article: arstechnica.com

Continue Reading

Technology

Charles River’s Q4 Earnings Beats Street Expectation, Reaffirms FY22 Outlook

Avatar

Published

on

Charles River Laboratories International Inc’s (NYSE: CRLQ4 sales increased 14.4% Y/Y to $905.1 million, beating the consensus of $888.27 million.

Acquisitions contributed 5.9% to consolidated fourth-quarter revenue growth. Organic revenue growth was 10.5%, driven by contributions from all three business segments. 
Adjusted EPS reached $2.49 higher than $2.39 posted a year ago and …

Full story available on Benzinga.com

Article: benzinga.com

Continue Reading

Trending

WOC.io