Business

Sunday 25 September 2016

In brief

Published 07/07/2015 | 02:30

European planemaker Airbus beat its US rival Boeing on orders in the first half of this year, after a tight contest at last month's Paris Airshow, but remained behind on deliveries.

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Airbus said it had won orders for 382 aircraft in the first six months of the year and delivered 304 planes to customers.

After cancellations and conversions between models, net orders totalled 348 aircraft, it said.

Boeing said it had won orders for 325 aircraft during the period - including more than 100 to AerCap and SMBC in Ireland, or a net total of 281 after adjustments. It delivered 381 aircraft in the first half, maintaining a lead over Airbus on the main driver for short-term revenues.

Oil prospect

Irish explorer Providence Resources increased its interest in frontier exploration Licence 3/04 from 16pc to 20pc through the acquisition for a nominal sum of the 4pc Stake held by Atlantic Petroleum, the company said. The licence, located in the Porcupine basin, includes the South Dunquin carbonate prospect. A group led by oil major Exxon drilled a similar target on the same licence in 2013 and encountered 44 metres of residual oil column, Providence said. The increase is subject to ministerial consent.

Air strikes

Talks between Lufthansa and pilots' union Vereinigung Cockpit (VC) about taking a pay dispute to mediation have failed, raising the prospect of strikes at the height of the summer travel season, the union said yesterday.

Lufthansa and its pilots have been trying to agree a mediation process to end a long-running pay dispute, which has already caused more than a dozen pilot strikes since April 2014. The airline is trying to cut costs to ensure it can compete, and to shore up its pension schemes.

Call for UK tax cut

London Mayor Boris Johnson called on Chancellor of the Exchequer George Osborne to cut the UK's top rate of income tax to 40pc in his budget tomorrow, the first by a majority Conservative government since 1996.

Income above £150,000 (€211,000) is currently taxed at 45pc in the UK, down from 50pc last year.

Irish Independent

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