US Government and Boeing agreed to pay City of Fresno millions for the clean-up of a contamination at Fresno Yosemite International Airport (The Associated Press, 16-Sep-2010). Fresno launched a lawsuit in 2006 over pollution at the airport dating back to World War II, in which aircraft degreaser polluted the airport and groundwater. Almost USD17 million has been spent on cleaning up the pollution so far, while the city still requires a further USD10-20 million to complete the cleanup. Under the settlement, the government will pay 68% of future costs, Boeing will pay 22% and Fresno will pay 10%. Boeing is part of the agreement as it purchased the interest of the company involved in the contamination.
US Government and Boeing agree to pay for clean-up at Fresno
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While it was acknowledged that progress on major deals was not going to happen overnight, the hope was that as layers of sanctions came down, Iran would be embraced by the rest of the world. In return, Iran was expected to open itself up progressively to foreign trade and investment, and to travel.
The road ahead was perceived to be one that was both a very different, and far easier, one than the one Iran had already travelled. Aviation in particular was a sector that was expected to shine and lead the way for a new era for the country.
LATAM Airlines Group: encouraging signs emerge in Latin America - but caution prevails
LATAM Airlines Group is forecasting higher system capacity growth in 2017, but also slightly higher margins as a slow economic recovery in Latin America sets in. The company has significantly cut its domestic capacity in Brazil during the past couple of years, but decreases for 2017 are less intense as LATAM balances rightsizing capacity with maintaining a certain level of market share.
Despite the tough conditions in Latin America that persisted throughout much of 2016 LATAM continued building its network utility for the long term, launching several new flights from its hub in Lima and new long haul service to Johannesburg. The company’s international expansion continues into 2017 with new long haul flights to Melbourne, as well as additional intra Latin America service.
One big strategy shift LATAM is beginning to undertake in 2017 is the launch of a new pricing structure to compete more effectively with low cost airlines operating in the region. Key to successfully executing that strategy is keeping its cost in line, in order to adapt its pricing models to new competitive realities within the Latin American market.