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Qantas looks at non-stop Sydney-London flights with Airbus order

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(Last Updated On: May 2, 2022)

Qantas Airways (QAN.AX) will fly non-stop from Sydney to London after ordering a dozen special Airbus (AIR.PA) jets, charging higher fares in a multi-billion dollar bet that fliers will pay a premium to save four hours on the popular route.

To be launched late in 2025, the flights will use A350-1000 planes, specially configured with extra premium seating and reduced overall capacity, to ferry up to 238 passengers in a 20-hour trip – the world’s longest direct commercial flight.

Announcing plans for the service on Monday, the loss-making carrier said a strong recovery in the domestic market and signs of an improvement in international flying after the worst of the COVID-19 pandemic had given it the confidence to make a major investment on its future. Qantas forecasts a return to profit in the financial year starting this July.

The order from the European aircraft maker also includes 40 narrowbody A321XLR and A220 jets to start the replacement of Qantas’ ageing domestic fleet, with deliveries spread over a decade. The airline did not disclose the value of the Airbus deal, but analysts at Barrenjoey estimated in a client note it would cost at least A$6 billion ($4.23 billion).

“Since the start of the calendar year, we have seen huge increases in demand,” Qantas Chief Executive Alan Joyce told reporters at Sydney Airport, where an Airbus A350-1000 test plane flown from France emblazoned with the Qantas logo and “Our Spirit flies further” was parked in a hangar as a backdrop for the announcement.

Qantas shares surged as much as 5.5% on Monday to the highest level since November after it also said debt levels had fallen to pre-COVID levels faster than the market’s expectations.

The A350-1000 order was the culmination of a challenge called “Project Sunrise” set for Airbus and its rival Boeing Co (BA.N) in 2017 to create aircraft capable of the record-breaking flights.

Airbus was selected as the preferred supplier in late 2019, but Qantas delayed placing an order for two years due to financial challenges during the COVID pandemic.

Airbus Chief Commercial Officer Christian Scherer said the aircraft to be used on the Sydney-London flights would offer more fuel storage than A350-1000s currently in operation with other airlines.

The Qantas planes will carry passengers across four classes and will have around 100 fewer seats than rivals British Airways (ICAG.L) and Cathay Pacific Airways Ltd (0293.HK) use on their A350-1000s. The Australian carrier will dedicate more than 40% of the jets’ cabins to premium seating.

CEO Joyce said demand for non-stop flights had grown since the pandemic, when complex travel rules were put in place. Rising fuel costs could be recovered through higher fares, he said, as the airline had done previously on its non-stop Perth-London flights.

In a market update, Qantas said while it expects an underlying operating loss for the financial year ending June 30, 2022, the second half would benefit from improved domestic and international demand, with free cash flow seen rising further in the current quarter.

Barrenjoey analysts forecast Qantas could achieve a 20% revenue premium on the ultra-long haul flights, which Joyce said will also go to New York from late 2025 and possible future destinations like Paris, Chicago and Rio de Janeiro.

Qantas estimated Project Sunrise would have an internal rate of return of around 15%.

Science & Technology

UN adopts first global artificial intelligence resolution

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(Last Updated On: March 22, 2024)

The United Nations General Assembly on Thursday unanimously adopted the first global resolution on artificial intelligence that encourages countries to safeguard human rights, protect personal data, and monitor AI for risks, Reuters reported.

The nonbinding resolution, proposed by the United States and co-sponsored by China and over 120 other nations, also advocates the strengthening of privacy policies.

“Today, all 193 members of the United Nations General Assembly have spoken in one voice, and together, chosen to govern artificial intelligence rather than let it govern us,” U.S. Ambassador to the United Nations Linda Thomas-Greenfield said.

The resolution is the latest in a series of initiatives – few of which carry teeth – by governments around the world to shape AI’s development, amid fears it could be used to disrupt democratic processes, turbocharge fraud or lead to dramatic job losses, among other harms.

“The improper or malicious design, development, deployment and use of artificial intelligence systems … pose risks that could … undercut the protection, promotion and enjoyment of human rights and fundamental freedoms,” the measure says. In November, the U.S., Britain and more than a dozen other countries unveiled the first detailed international agreement on how to keep artificial intelligence safe from rogue actors, pushing for companies to create AI systems that are “secure by design.”

Europe is ahead of the United States, with EU lawmakers adopting a provisional agreement this month to oversee the technology. The Biden administration has been pressing lawmakers for AI regulation, but a polarized U.S. Congress has made little headway, read the report.

In the meantime, the White House sought to reduce AI risks to consumers, workers, and minorities while bolstering national security with a new executive order in October.

U.S. National Security Advisor Jake Sullivan said it took nearly four months to negotiate the resolution, but that it gave the world “a baseline set of principles to guide next steps in AI’s development and use.”

Asked on Wednesday whether negotiators faced resistance from Russia or China, senior administration officials said there were “lots of heated conversations,” but the administration actively engaged with countries with which it has different views.

Like governments around the world, Chinese and Russian officials are eagerly exploring the use of AI tools for a variety of purposes. Last month, Microsoft said it had caught hackers from both countries using Microsoft-backed OpenAI software to hone their espionage skills.

In response to the Microsoft report, China has said it opposes what it called groundless accusations while Russia did not respond to a request for comment, Reuters reported.

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Turkey moves against Meta over Threads-Instagram data sharing

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(Last Updated On: March 18, 2024)

Turkey’s competition authority on Monday imposed an interim measure on Meta Platforms Inc meant to hinder data sharing between the Instagram and Threads platforms as it investigates possible abuse of the company’s dominant market position.

In December the authority launched an investigation into Facebook parent Meta (META.O), opens new tab over a possible violation of competition law by linking its social media platforms Instagram and the newer Threads.

The authority said the interim measure would remain in place until a final decision is made, since the data obtained and merged through these two apps could “violate competition law and cause irreparable damage” in the market.

Separately, the Turkish authority fined Meta 4.8 million lira ($148,000) daily as part of a separate investigation over a notification message that the company sends users about the sharing of data.

The notification about data sharing between the company’s Facebook, Instagram and WhatsApp services did not provide sufficient information and was not sufficiently transparent, it said.

The notification was also designed to guide users to approve data sharing, which was not deemed sufficient to address anti-competition concerns, it added.

A Meta spokesperson said that the company is considering the decision and will have more to say in due course. – Reuters

 

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Musk’s SpaceX building spy satellite network for US intelligence agency

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(Last Updated On: March 17, 2024)

SpaceX is building a network of hundreds of spy satellites under a classified contract with a U.S. intelligence agency, five sources familiar with the program said, demonstrating deepening ties between billionaire entrepreneur Elon Musk’s space company and national security agencies.

The network is being built by SpaceX’s Starshield business unit under a $1.8 billion contract signed in 2021 with the National Reconnaissance Office (NRO), an intelligence agency that manages spy satellites, sources told Reuters.

The plans show the extent of SpaceX’s involvement in U.S. intelligence and military projects and illustrate a deeper Pentagon investment into vast, low-Earth orbiting satellite systems aimed at supporting ground forces.

If successful, the sources said the program would significantly advance the ability of the U.S. government and military to quickly spot potential targets almost anywhere on the globe.

The contract signals growing trust by the intelligence establishment of a company whose owner has clashed with the Biden administration and sparked controversy.

The satellites can track targets on the ground and share that data with U.S. intelligence and military officials, the sources said.

In principle, that would enable the U.S. government to quickly capture continuous imagery of activities on the ground nearly anywhere on the globe, aiding intelligence and military operations, they added.

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