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CNN
38 minutes ago
- CNN
Engine fuel supply was cut just before Air India jet crash, preliminary report says
CNN — A cut in the fuel supply to the engines caused last month's Air India crash that killed 260 people, a preliminary report has found. The London-bound plane had barely left the runway at Ahmedabad airport when it hurtled back to earth. Everyone on board was killed, except for one passenger. According to the report by India's Aircraft Accident Investigation Bureau, obtained by CNN, the fuel control switches in the cockpit of the Boeing 787 Dreamliner had been flipped, starving the engines of fuel. Investigators were able to get data out of the plane's 'black box' recorders, including 49 hours of flight data and two hours of cockpit audio, including from the crash. The aircraft had reached an airspeed of 180 knots when both engines' fuel cutoff switches were 'transitioned from RUN to CUTOFF position one after another with a time gap of 01 sec,' according to the report. 'In the cockpit voice recording, one of the pilots is heard asking the other why did he cutoff. The other pilot responded that he did not do so,' the report reads. Shortly after, the switches were reversed back to where they should have been, and the engines were in the process of powering back up when the crash happened. On the 787, the fuel cutoff switches are between the two pilots' seats, immediately behind the plane's throttle levers. They are protected on the sides by a metal bar and have a locking mechanism designed to prevent accidental cutoff. Airport footage shows the Ram Air Turbine, an emergency power source on an aircraft, deployed during the plane's initial climb after takeoff, the report said. The plane started to lose altitude before crossing the airport perimeter wall. 'When fuel control switches are moved from CUTOFF to RUN while the aircraft is inflight, each engines full authority dual engine control automatically manages a relight and thrust recovery sequence of ignition and fuel introduction,' the report states. Seconds after the engines attempted to relight, one pilot called out, 'MAYDAY MAYDAY MAYDAY.' The controller called out for the plane's callsign, but didn't get a response and watched the plane crash in the distance. The fuel switches were 'designed to be intentionally moved,' according to CNN safety analyst David Soucie, who said cases in which all fuel switches were turned off accidentally are 'extremely rare.' 'Throughout the years, those switches have been improved to make sure that they cannot be accidentally moved and that they're not automatic. They don't move themselves in any manner,' Soucie said on Friday. The captain of the flight was a 56-year-old who had flown more than 15,000 hours in his career. The first officer was a 32-year old man with over 3,400 flying hours. Investigators also noted settings on equipment found in the wreckage was normal for takeoff. The plane's fuel was tested and found to be of satisfactory quality, and no significant bird activity is observed in the vicinity of the flight path, according to the report. The takeoff weight for the plane was found to be within allowable limits, and there were no 'Dangerous Goods' on the aircraft. Investigators found the flaps on the wings of the plane were set in the 5-degree position, which is correct for takeoff, and the landing gear lever was in the down position. The left engine was installed on the plane on March 26 and the right was installed on May 1, the report said. Air India flight 171 took off from Ahmedabad's Sardar Vallabhbhai Patel International Airport in India's western state of Gujarat on June 12. The Boeing 787-8 Dreamliner was headed to London Gatwick, and scheduled to land at 6:25 p.m. local time. Air India had said 242 passengers and crew members were on board. That included 169 Indian nationals, 53 Britons, seven Portuguese and one Canadian. In addition to those on board, a number of people on the ground were killed when the plane crashed into the BJ Medical College and Hospital hostel. The crash resulted in 260 fatalities total, according to the report. A number of the dead on the ground resulted from the plane hitting the hostel. Air India acknowledged that it received the report and said it will continue cooperating with authorities in the investigation. 'Air India stands in solidarity with the families and those affected by the AI171 accident,' the airline posted to X on Saturday (local time). 'We continue to mourn the loss and are fully committed to providing support during this difficult time.'
Yahoo
an hour ago
- Yahoo
Dividends Declared During the Week of July 7
Energy companies are gearing up for second-quarter 2025 earnings season. Here is a compilation of dividends declared during the week of July 7 from select midstream and service and supply companies. Targa Resources Targa Resources Corp. declared a quarterly cash dividend of $1 per common share, $4 per share annualized, for the second quarter of 2025. The cash dividend will be paid Aug. 15 on all outstanding common shares to holders of record as of the close of business on July 31. Pembina Pipeline Pembina Pipeline Corp. declared quarterly dividends for a series of preferred shares—Series 1, 3, 5, 7, 9, 15, 17, 21 and 25. Series 1, 3, 5, 7, 9 and 21 preferred share dividends are payable on Sept. 2 to shareholders of record on Aug. 1. Series 15 and 17 are payable on Oct. 1 to shareholders of record on Sept. 15. Series 25 preferred share dividends are payable on Aug. 15 to shareholders of record on July 31. NW Natural Energy infrastructure company Northwest Natural Holding Co. declared a quarterly dividend of $0.49 per share on July 10. The dividend will be paid on Aug. 15 to shareholders of record on July 31. NW Natural said its annual dividend rate is $1.96 per share. Phillips 66 Phillips 66 declared a quarterly dividend on July 10 for $1.20 per share on its common stock. The dividend is payable on Sept. 2 to shareholders of record as of Aug. 19. Emera North American energy services provider Emera Inc. declared quarterly dividends on July 11 on its common shares and first preferred shares. The common share dividend will be paid out as approximately $0.73 per share. The preferred share dividends will be paid out as follows: $0.1364 per Series A first preferred share; $0.2789 per Series B first preferred share; $0.40213 per Series C first preferred share; $0.28125 per Series E first preferred share; $0.35931 per Series F first preferred share; $0.39525 per Series H first preferred share; $0.265625 per Series J first preferred share; and $0.2875 per Series L first preferred share. The dividends are payable on and after Aug. 15 to shareholders of record as of Aug. 1.
Yahoo
an hour ago
- Yahoo
Western Union (WU) Registers a Bigger Fall Than the Market: Important Facts to Note
In the latest close session, Western Union (WU) was down 2.79% at $8.35. The stock trailed the S&P 500, which registered a daily loss of 0.33%. On the other hand, the Dow registered a loss of 0.63%, and the technology-centric Nasdaq decreased by 0.22%. Coming into today, shares of the money transfer company had lost 5.91% in the past month. In that same time, the Business Services sector lost 2.01%, while the S&P 500 gained 4.07%. Analysts and investors alike will be keeping a close eye on the performance of Western Union in its upcoming earnings disclosure. The company is expected to report EPS of $0.44, unchanged from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.03 billion, down 3.59% from the year-ago period. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.77 per share and revenue of $4.12 billion. These totals would mark changes of +1.72% and -2.18%, respectively, from last year. Investors should also pay attention to any latest changes in analyst estimates for Western Union. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system. Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.27% decrease. Right now, Western Union possesses a Zacks Rank of #3 (Hold). Looking at valuation, Western Union is presently trading at a Forward P/E ratio of 4.86. This denotes a discount relative to the industry average Forward P/E of 16.76. Also, we should mention that WU has a PEG ratio of 2.43. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Financial Transaction Services industry stood at 1.33 at the close of the market yesterday. The Financial Transaction Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 65, placing it within the top 27% of over 250 industries. The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. To follow WU in the coming trading sessions, be sure to utilize Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Western Union Company (WU) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
