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Keeping Alitalia airline afloat: 900 million euro bridge loan conversion

April 11, 2019 by Forimmediaterelease

Italy’s last council of ministers have approved a new decree law with 11 new rules presented by the Minister of Economic Development, Luigi Di Maio. Among these, at the last minute, is the regulation allowing for the conversion of part of a bridge loan – 900 million euros granted to Alitalia airline in May 2017 – into equity, and, therefore, into a share package (about 15%) of the new company that will be presented by Italia Railways (FS).

In short, the go-ahead for the Treasury to become a shareholder of the new Alitalia in a scheme is official, but all has yet to be defined. At the same time, in fact, an okay was given to the extension of another month (from March 31 to April 30) to FS for the presentation of an industrial plan to the extraordinary commissioners.

The company led by Gianfranco Battisti would have preferred a longer margin that would also cover the month of May, in order to have more time to contract the entry of the other partners.

Between the Ministry of Economy and Finance (15%), FS (30-40%), and Delta (10%), a large percentage is still uncovered which has not yet met stakeholders’ approval.

With CDP, (a loan banc) Poste (the Mail Group) and Fincantieri, which have repeatedly confirmed their lack of interest in the operation, the tracks leading to China Eastern and Atlantia (Autostrade concessionaire and reference shareholder of Aeroporti di Roma) would still be alive.

Travel News | eTurboNews

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Princess Cruises And Fincantieri Sign Contracts For Two Next-Generation Cruise Ships

March 27, 2019 by Forimmediaterelease

Princess Cruises and Fincantieri announced today the signing of the final contracts for the construction of two next-generation 175,000-ton cruise ships, which will be the largest ships ever built so far in Italy, with deliveries scheduled in Monfalcone in late 2023 and in spring 2025. This announcement follows the initial signing of a memorandum of agreement between the two parties in July 2018.

The vessels will each accommodate approximately 4,300 guests and will be based on a next-generation platform design, being the first Princess Cruises ships to be dual-fuel powered primarily by Liquefied Natural Gas (LNG). LNG is the marine industry’s most environmentally friendly advanced fuel technology and the world’s cleanest fossil fuel, which will significantly reduce air emissions and marine gasoil usage.

“Princess Cruises continues to grow globally — adding new ships to our fleet built by our long-time trusted ship building partner, Fincantieri, who brings decades of expertise to these next-generation cruise ships,” said Jan Swartz, Princess Cruises President. “Even more exciting is that these two ships are being designed to include our MedallionClass platform, powered by OceanMedallion, the most advanced wearable device available within the global hospitality industry.”

Giuseppe Bono, CEO of Fincantieri, commented on the announcement: “This result proves, once again, the trust we receive from the market, which allows us to look to the future with ambition. It honors our great work focused on innovation thanks to which we have been able to offer to the client a record-breaking proposal not only in terms of size. Besides we firmly believe that a new class of Princess Cruises’ ships, one of Carnival Group’s top brands, can stem from this promising project. In fact, for Princess Cruises, we have received orders for 21 ships, another unprecedented result in this industry.”

Considered a breakthrough in the vacation industry and recently honored with a CES® 2019 Innovation Award, the OceanMedallion is leading-edge technology that delivers personalized service on a large scale through enhanced guest-crew interaction, as well as enabling interactive entertainment. Guests are currently experiencing Princess MedallionClass vacations onboard Caribbean Princess and Regal Princess. By the end of the year, MedallionClass vacations will be activated on three additional ships, Royal Princess, Crown Princess and Sky Princess.

Cruise Lines International Association (CLIA) and United Nations reported that growth in the number of people cruising between 2004 and 2014 outpaced land-based vacations by over 20 percent, and CLIA projects 30 million people will take an ocean cruise in 2019, an all-time record. These stats signal a bright future for the cruise industry, as well as for professional travel advisor partners enthusiastic for more inventory to meet the growing demands for cruising.

With five ships being built over the next six years, Princess Cruises is the fastest growing premium cruise line in the world.

One of the best-known names in cruising, Princess Cruises is the fastest growing international premium cruise line and tour company operating a fleet of 17 modern cruise ships, carrying two million guests each year to 380 destinations around the globe, including the Caribbean, Alaska, Panama Canal, Mexican Riviera, Europe, South America, Australia/New Zealand, the South Pacific, Hawaii, Asia, Canada/New England, Antarctica and World Cruises. A team of professional destination experts have curated 170 itineraries, ranging in length from three to 111 days and Princess Cruises is continuously recognized as “Best Cruise Line for Itineraries.”
In 2017 Princess Cruises, with parent company Carnival Corporation, introduced MedallionClass Vacations enabled by the OceanMedallion, the vacation industry’s most advanced wearable device, provided free to each guest sailing on a MedallionClass ship. The award-winning innovation offers the fastest way to a hassle-free, personalized vacation giving guests more time to do the things they love most. MedallionClass Vacations will be activated on five ships by the end of 2019. An activation plan will continue across the global fleet in 2020 and beyond.
Princess Cruises continues its multi-year, “Come Back New Promise” – a $450 million-dollar product innovation and cruise ship renovation campaign that will continue to enhance the line’s onboard guest experience. These enhancements result in more moments of awe, lifetime memories and meaningful stories for guests to share from their cruise vacation. The product innovations include partnerships with award-winning Chef Curtis Stone; engaging entertainment inspired shows with Broadway-legend Stephen Schwartz; immersive activities for the whole family from Discovery and Animal Planet that include exclusive shore excursions to onboard activities; the ultimate sleep at sea with the award-winning Princess Luxury Bed and more.
Three new Royal-class ships are currently on order with the next new ship under construction, Sky Princess, scheduled for delivery in October 2019, followed by Enchanted Princess in June 2020. Princess has announced two new (LNG) ships which will be the largest ships in the Princess fleet, accommodating approximately 4,300 guests are planned for delivery in 2023 and 2025.  Princess now has five ships arriving over the next six years between 2019 and 2025. The company is part of Carnival Corporation & plc (NYSE/LSE: CCL; NYSE:CUK).

Fincantieri is one of the world’s largest shipbuilding groups and number one for diversification and innovation. It is leader in cruise ship design and construction and a reference player in all high-tech shipbuilding industry sectors, from naval to offshore vessels, from high-complexity special vessels and ferries to mega yachts, as well as in ship repairs and conversions, production of systems and mechanical and electrical component equipment and after-sales services.
With over 230 years of history and more than 7,000 vessels built, Fincantieri has always kept its management offices, as well as all the engineering and production skills, in Italy. With over 8,600 employees in Italy and a supplier network that employs nearly 50,000 people, Fincantieri has enhanced a fragmented production capacity over several shipyards into a strength, acquiring the widest portfolio of clients and products in the cruise segment. To hold its own in relation to competition and assert itself at global level, Fincantieri has broadened its product portfolio becoming world leader in the sectors in which it operates.
With globalization, the Group has around 20 shipyards in 4 continents, over 19,000 employees and is the leading Western shipbuilder. It has among its clients the world’s major cruise operators, the Italian and the US Navy, in addition to several foreign navies, and it is partner of some of the main European defense companies within supranational programs.
Fincantieri’s business is widely diversified by end markets, geographical exposure and by client base, with revenue mainly generated from cruise ship, naval and offshore vessel construction. Compared with less diversified players, such diversification allows it to mitigate the effects of any fluctuations in demand on the end markets served.
www.fincantieri.com

Travel News | eTurboNews

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Five challenges confronting Meetings Industry in 2019

March 25, 2019 by Forimmediaterelease

Tight meeting budgets, time pressures, organizational issues, a lack of creativity from hotels, increasingly complex and costly mandates in catering, a need for more dynamic and enriching experiences and resistance to change – these are among the major challenges confronting the meetings industry in 2019.Teneo Hospitality Group surveyed 150 meeting planners and hoteliers on the challenges they faced in effectively competing in today’s changing and complicated marketplace. Interestingly, some of the challenges planners faced are internal, within their own organizations. All identified limited meetings budgets, lack of time and somewhat inflexible corporate cultures that gave rise to additional problems such as a lack of innovation and poor cost control.

“‘Many of these challenges – and their solutions – are interdependent,” says Teneo President Mike Schugt. He notes that meeting professionals are saying that they have concerns within their organization and corporate cultures which contribute to resistance to change, resulting in budgets that are impacted negatively. Planners are also saying that these challenges, coupled with the many demands on time, inhibit creative strategies that could otherwise help solve the obstacles pointed out in Teneo’s most recent survey.

“Teneo and its hotel and DMC members have a unique opportunity to step up and help solve the challenges of our planner partners,” says Mike Schugt. “We can introduce creative, time-saving offerings that can also meet their bottom line. By understanding the needs that go beyond rates, dates and space, hotels can provide innovative, solutions to the challenges planners face behind the scenes.”

Challenge #1 Budgets. Inadequate budgets headed the challenge lists for all survey participants. Planners cited rising costs, especially concerning food and beverage, with no comparable increase in budgets. The complexities of gaining budget increases from various corporate departments impact every aspect of the meeting process from training staff to negotiating contracts. Despite a strong economy, some planners reported budget cuts. Respondents noted that the inability to obtain adequate funding reflected a lack of understanding of the profound changes in the meetings industry that demanded more, not less, investment. Needs of attendees are very different today, especially among Millennials and Generation Z who require a high degree of technical services, greater engagement and entertaining activities – needs that are difficult to meet on a tight budget. Yet management and attendees had extremely high expectations.

Suggested Solution: The fundamental way planners can achieve their budget is to be transparent and in open communication with a property. Though the tendency may be to play one’s cards close to the vest, transparency from the beginning of negotiations is key to effective planning and keeping costs in check. While many planners feel they must keep back some of their budgetary concerns until further on in the planning process, an honest and comprehensive view of the meetings objectives and resources will enable hoteliers to present a realistic budget.

Challenge #2 Lack of Time. Time pressures impact every business and organization, but some concerns have particular ramifications for the meetings industry. Virtually all respondents cited a lack of time and identified challenges that could have far-reaching consequences. With sweeping advances in technology impacting the industry, hoteliers and planners noted that they often lacked the time to keep up with technical developments. This problem was amplified when attendees were ahead of the planners and hotels in their own use of technology. Training a new generation of meeting planners and hotel staff is key to the industry’s progress. But few had time to develop effective programs, tailored to meet the different viewpoints and technical skills of a new generation. Most significantly, respondents worried that the overwhelming details of day-to-day work left little time for long-term, strategic planning. And the top time waster? Too many unnecessary e-mails.

Suggested Solution: Hotels are often inundated with leads and may not always be able to reply in 24 hours. Planners are encouraged to indicate their timeline for response up front so hotels and resorts can offer a higher quality of response. For planners, they can then gather their lead responses all at one time and be assured that the quality of response is going to be higher if a little more time is allocated to the properties of interest. Planners that source more than 6 or 7 hotels per lead and in multiple cities will tend to be taken less seriously by a hotel. So planners can save time and drive up quality of response by reducing the number of hotel sources they contact.

If planners can share flexibility with dates early in the process, they will save time and the hotels can provide multiple options, which will likely have differences in pricing leading to greater value with the budget. Giving the hotel as much information as possible saves everyone time and can save on the budget.

Challenge #3 Keeping Up with Technology. In a technological environment that is moving at lightning speed, staying current and knowledgeable of technology’s impact on meeting productivity can be daunting. Realizing that millennial attendees may be way ahead in their technical knowledge, technology applications and expectations can be intimidating. Even leadership within select organizations don’t always seem to grasp how technology is revolutionizing the meetings experience today.

Suggested Solution: Staying current and out front with technological progress is critical to the successful outcome of every meeting, conference or social gathering. Yes, some long-term practices are still prized such as white boards and LCD players. But engaging with attendee devices puts the meeting’s learning literally in the hands of conferees in a way that resonates within a generation who grew up on texting, social media posts, interactive apps and more. These are the tools they use for their everyday living, and should be the tools they can expect to use within meetings important to their and their employer’s success.

Challenge #4 Lack of Creativity. Big brand hotels’ corporate bureaucracy partially accounts for planners’ demand for greater creativity in the meeting process, and a far more flexible business environment. Larger hotel brands often have corporate policies that may place limits on pushing the boundaries of creating the ultimate meeting experiences for planners. But the need for innovation and original events, imaginative use of technology, effective teambuilding exercises, new experiences in even the most tried and true destinations, and diverse, sustainable and healthy food cannot be ignored.

Suggested Solution: Partner with a hotel or resort that creatively works with planners and groups to construct a meeting itinerary customized to a specific group and set of meeting objectives. Independent and small brand properties, by the very nature of their independence, have proven to be expert in creatively discovering and helping plan for achieving meeting goals of professional planners and groups, doing so with out-of-the-box thinking, highly unique group initiatives, and far from run-of-the-mill teambuilding programming. Private destination management companies can also be an important resource, and Teneo suggests partnering with them to help make a city or destination come alive for meeting guests by maximizing local resources and attractions in a way that is meaningful to the group.

Challenge #5 Increasing Complexity and Rising Costs of Food & Beverage. As the population becomes more diverse, food preferences and dietary requirements have become more complicated. Growing awareness of wellness and sustainability issues add to a mix that could become more problematic and costlier. Paleo, keto, pescatarian, vegan and religious dietary requests are among the newest trends in conference dining in 2019. Respondents also called for better management of food ordering to keep costs down and eliminate waste.

Suggested Solution: This is an area where independent and small-brand hotels can get ultra-creative for the planner as they are in a more entrepreneurial and creative mode, less restricted by big-brand requirements and constraints. They can typically offer a more creative product with reduced costs. By working with chefs and banquet managers from these properties at the beginning of the planning process and being candid about budget constraints, it’s possible to obtain serious savings on food and beverage while achieving maximum creativity.

Travel News | eTurboNews

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10 Students Tips For Planning Your Assignment

March 24, 2019 by Forimmediaterelease

The secret to successfully finish everything in time is time management. We all tend to forget about things or postpone them to the last minute, and it might bring troubles and stress to your life. It can also decrease your grades because when you don’t have enough time for an assignment, it is hard to do quality work. Anyone might find him/herself wondering “Can someone help me to do my assignment right now?” Sure thing; you can always use the best essay writing service when you have no other possibility to finish it on your own. Many students in Australia and all over the world have struggled with planning; this guide will help you to manage time properly and be successful with your studies.

Tips on Planning to Do Your Assignment without Stressing Out

How to write an assignment? Well, it takes some skill and researching, but the main thing, of course, is to have all planned and organized, before you even start writing.

  1.      Create a useful time planner. The first thing to mention is that it is better to use a digital calendar or an app that allows creating tasks with due dates and reminders. Of course, you might make a notebook with all the information, but as long as it is in the paper, there is no way to set reminders. As soon as you get an assignment out into calendar and set a due date. Set two reminders, one week before the due date, another one two weeks before. Don’t trust your memory, as it is hard to keep everything in mind; use technology instead.
  2.      Create a rating system defining the importance and complexity of tasks. It is useful when you have several of them at a time. Mark them with different colors and figure out how much time each of them will take you to write. Start with the most complex and important ones, the less crucial you can always trust to an online service, like PapersOwl.
  3.      How to start an assignment? You need to begin with a close reading of requirements and topic; it is crucial that you understand the key question and the demands you are expected to meet. Underline the main words and focus on them, define the crucial question of an essay.
  4.      After the previous step write down what you need to do to finish the task. Basically, you are creating a plan of actions you are going to take. Don’t put huge options like “write an essay.” Divide them into smaller sections so that they are less nerve wreaking and easier to do. Set realistic goals, if you cannot write 2000 words a day, it is ok; just divide the works for two days at least.
  5.      Begin working on an assignment with drafting a structure for it. Whether you are going to a college in Melbourne or any other place in Australia, there are common outlines for any kind of academic paper that are well-known and are publicly accessible. If you don’t have an example, you may ask the professor or look online, the general outline for an essay is always the same. Use it to customize according to your needs and topic.
  6.      Look for useful information. Don’t rush to write everything, do research on the topic first. You don’t have to pay for online sources; there are many of them that are free to use by anyone. There is your local public library, college library, and digital resources. If you don’t know which sources are most relevant, ask someone for help: professor, tutor, and classmate.
  7.      When working with sources make notes and marks on the most important data. After you are done, it will be easier to find this information.

  1.      Work on your thesis statement. Before actually writing it is better to know what your standpoint is and the main idea. That’s why one should spend some time formulating a clear thesis statement that will be a guide to future work.
  2.      Write a draft. Try to focus and not get distracted, don’t be too critical when writing a draft, just follow thoughts and ideas. Remember to put in direct citations primary sources and paraphrase secondary ones. It is not essential where to start; you may begin with the part that is easier for you and then complete other paragraphs.
  3.  Proofread and edit draft to make it a finished paper. Use services like Grammarly that helps to proofread spelling and grammar and use online plagiarism checker, there are several free AU services. But most importantly – reread your text to revise the general logic, readability, strong arguments, etc.

This guide should help you with the understanding of how to do assignments. Remember that it is better not postpone it till the last night, as the more time you have, the better it is.

Author’s bio: Becca Stickler is a freelance writer with a focus on sustainability and eco-friendly living. Now engaged in travel around the country and writing.

Travel News | eTurboNews

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Alitalia airline: The ongoing medley

March 20, 2019 by Forimmediaterelease

The journey of Gianfranco Battisti, CEO of Ferrovie Dello Stato Italiane (FS), to the United States would have borne its first fruits in the definition of the new company for Alitalia, but so far nothing is definite.

Delta Airlines, in fact, should officially join the new Alitalia, but with an initial share of only 10%. The commitment signed with the managing director of FS doubles over the next four years to satisfy the industrial plan still being defined.

The managing director of Delta, Ed Bastian, would, therefore, have confirmed the interest for a percentage of shares similar to those already held in Air France-KLM, even if now FS will have to increase its participation up to 40%.

The US carrier, in fact, will guarantee its gradual investment to the point of controlling 20% as long as the new company makes profits, a scheme that follows the operation that Delta has already successfully experienced with Aeroméxico (from 19 to 49% in the past few years.)

According to the Italian press, the Battisti-Bastian confrontation would have focused on the shares of the new team, its shareholders, and governance, while the definition of the industrial aspects of the plan will need more time. As a result, a further postponement of the presentation of the Alitalia business plan is expected to be scheduled for next March 31.

easyJet’s second thought

In a peremptory tone through a press release, easyJet definitively closes the door on a possible entry into Alitalia. “Following the conversations with FS and Delta Air Lines for the creation of a consortium that evaluated the options for future Alitalia operations, easyJet decided to withdraw. However, the airline told the Adnkronos agency of its intentions to confirm its commitment to Italy and to continue to invest in the three airports of Milan, Naples, and Venice as done in recent years, adding routes and capabilities.”

The NewCo scheme

In the new Alitalia, therefore, 50% would be controlled by FS and Delta and another 15% would be due to MEF (the Italian Ministry of Economy and Finances) through the conversion of a bridge loan. It remains to be clarified how the remaining 35% would be divided. According to the newspaper Il Messaggero, in fact, Battisti would have obtained from the Treasury the availability of Fincantieri to cover 10-15%, while an additional 20% would remain to be covered (there are talks again of CDP – Italian National Promotional Institution) or Poste ( the state mail company) through some subsidiary companies. The new Alitalia could start with a capital requirement of around 1 billion euros.

While waiting for its future to be defined, Alitalia states to have recorded a 2.7% increase in passenger numbers on intercontinental routes compared to the same month of the previous year. And passenger revenue traffic is up by 1.2% on long-haul flights compared to the same period in 2018.

February cargo revenue, as stated by Alitalia, also increased by 4.9%. The results obtained on intercontinental routes have contributed to overall revenues, allowing Alitalia to record for the fifteenth consecutive month, growth in total passenger traffic turnover.

Travel News | eTurboNews

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