上海夜生活,上海夜生活网,上海夜网论坛 - Powered by January 2018

Ford to launch more than 30 new models in China over next three years

S上海夜生活HANGHAI/BEIJING ( ) – Ford Motor plans to launch more than 30 new models in China over the next three years of which over a third will be electric vehicles, the U.S. automaker said on Wednesday, as it seeks to reverse slumping sales in the world’s top auto market.

Ford had said previously it would launch 50 new or significantly redesigned vehicles in China starting in 2018 and through 2025, and Wednesday’s announcement provides more clarity on the timeline.

Its China operations chief Anning Chen said the automaker is committing itself to improving its relationships with Chinese joint-venture partners and localizing its management teams by hiring and promotin,夜上海419龙凤论坛Barrett,g more Chinese nationals and global talent with Chinese expertise, among other initiatives.

The new plans are intended to “enable us to gain the momentum to break th,上海夜生活Rae,rough” in the marketplace, Chen t,上海夜网后花园Qirin,old a small group of reporters.

Ford has been struggling to revive sales in China, the second biggest market globally for the Dearborn, Michigan automaker, after its business began slumping in late 2017. Sales slumped 37 percent in 2018, after a 6 percent decline in 2017.

Ford has said its sales crisis stemmed mainly from a lack of new products. Industry experts also ascribe the company’s China trouble to the Sino-U.S. trade war and its rocky relationship with domestic partners Changan Automobile Group and Jiangling Motors Group.

India’s Jet grounds much of its fleet as it awaits bailout funds

NEW DELHI ( ) – India’s Jet Airways has been forced to ground more than three quarters of its fleet after failing to pay lessors as it awaits bailout funds promised by state-run banks.

Jet struck a deal to escape bankruptcy earlier this year in which State Bank of India (SBI) and other lenders were to pump $218 million into the firm and temporarily own a majority stake in the airline.

But Jet has not got any of the funds so far and has not paid its employees for March, a person with direct knowledge of the matter said on Wednesday.

Once India’s leading full-service airline, Jet was founded 25 years ago by Naresh Goyal at a time when state-run carrier Air India was the only real formidable opponent. In recent years, however, Jet has struggled to compete with low-cost carriers such as IndiGo and SpiceJet that now dominate Indian skies.

GROUNDED

Jet’s operational fleet stood at 28 aeroplanes,上海仙霞路夜生活Ebba, as of Wednesday, a company spokesman told , versus 119 planes last year.

At least 69 aircraft have been grounded due to money owed to lessors, according to stock exchange filings by Jet, while the remainder are out of service for maintenance.

Some lessors with direct knowledge of the matter said Jet had told them it would pay for one month’s rental and maintenance by the end of last week, but no payment had been received.

“We already have five to six months of delinquencies and we were promised just one month and even that hasn’t been paid. This is very disappointing,” said one of the people, who declined to be identified due to the sensitivity of the matter.

Jet did not respond to specific queries on lessor and salary payments but said in a statement that the airline has informed the aviation regulator it is operating a curtailed schedule.

For a graphic on Jet Airways planes hamstrung by lessor defaults, see – tmsnrt.rs/2HWffZk

For an interactive graphic on Jet’s fleet grounding, click here tmsnrt.rs/2IdxKb7

In a statement late on Wednesday, former Jet chairman Goyal, who resigned from the airline’s board last month but still holds a 25.5 percent share in the company, said he was cooperating with the Indian lenders and had agreed to their terms in a timely manner.

“I have … signed on the dotted line as required to ensure release of the much needed funds committed by the lenders, in order to secure a sustainable future for Jet Airways,” Goyal said.

PRECARIOUS SITUATION

The Jet rescue plan itself is also facing difficulties. It was based on a directive issued by the country’s central bank last year but India’s top court quashed that directive on Tuesday.

SBI and Jet did not respond to requests for comment on the court ruling.

Madhukar Ladha, an equity analyst at Mumbai-based firm HDFC Securities, said he did not see Jet’s rescue package being in peril as the deal was ,夜上海论坛Fabiana,already agreed.

After the bailout was announced, Jet told India’s aviation regulator it would not ground any more planes a上海夜网nd would fly 40 more aircraft by the end of April, taking its operational fleet to 75 planes.

But late on Tuesday, Jet grounded 15 planes.

With a smaller operating fleet, Jet has given pilots and cabin crew the option of flexible working days and taking extended leave with or without pay, according to a no,上海夜生活网419Hal,te to staff seen by .

Even as the aircraft groundings are currently impacting Jet’s operations, the airline needs to rationalize its fleet and focus on profitable routes, said HDFC Securities’ Ladha.

“The situation remains precarious,” he said.