Latest news with #JetZero
Daily Mail
4 days ago
- Business
- Daily Mail
Delta issues warning over plane seats as it makes cuts
Delta Air Lines has issued a warning for travelers looking to fly in a main cabin seat on any flight. Delta President Glen Hauenstein revealed the airline industry is looking to cut its main-cabin capacity on all flights by around 1 percent by September. Delta, specifically, is axing unpopular trips such as flights on Tuesdays and Wednesdays and trips with unusual takeoff times. Delta hopes the trip trimming will help in consolidating main cabin travel on popular flights and boost revenue. The goal was announced after Delta's main cabin revenue fell 5 percent during its second quarter, while its premium revenue grew by 5 percent. 'I've been in this business quite a long time, and I've really never seen that amount of capacity come out in a non-recessionary environment,' Hauenstein said. 'And I don't think anybody is predicting that we're in a recession.' The news of the trip slashes comes after the company launched its first nonstop flight route connecting Utah to Asia. Delta's $15.51 billion in second quarter revenue beat Wall Street's expectations even though some travelers vowed to switch to Spirit. The company is in the process of modernizing its aircrafts and hinted at the possibility of adding in-flight gambling. Its also hard at work in creating its new environmentally friendly aircraft through its partnership with JetZero, which is scheduled to take flight in 2027. United Airlines is coming for Delta when it comes to futuristic jets now that it has agreed to buy up to 200 planes from JetZero. The deal finalization for the new JetZero Z4 planes comes after United finished its first quarter with $13.2 billion, the best performance during that period in five years. Experts predict the airline industry will continue to be unpredictable, amid changes to travel habits and economic headwinds. Annual revenue has grown and passenger numbers have bounced back from the pandemic. However, fears of recession and tariffs have made an impact on carrier operations. These factors, along with the decline in international travel, has led to airlines slashing their 2025 outlooks. 'We are concerned that the new economic paradigm causes another structural leg down in corporate travel while the negative wealth effect further dampens consumption, especially by Baby Boomers,' TD Cowen wrote in April. Despite the changes and concerns, the International Air Transport Association (IATA) is expecting this year to be successful. 'The first half of 2025 has brought significant uncertainties to global markets. Nonetheless, by many measures including net profits, it will still be a better year for airlines than 2024, although slightly below our previous projections,' said director general Willie Walsh. (Pictured: Glen Hauenstein, President of Delta Air Lines)
Daily Mail
4 days ago
- Business
- Daily Mail
Delta issues urgent warning over airplane seats as airline is forced to make cuts
Delta Air Lines has issued a warning for travelers looking to fly in a main cabin seat on any flight. Delta President Glen Hauenstein revealed the airline industry is looking to cut its main-cabin capacity on all flights by around 1 percent by September. Delta, specifically, is axing unpopular trips such as flights on Tuesdays and Wednesdays and trips with unusual takeoff times. Delta hopes the trip trimming will help in consolidating main cabin travel on popular flights and boost revenue. The goal was announced after Delta's main cabin revenue fell 5 percent during its second quarter, while its premium revenue grew by 5 percent. 'I've been in this business quite a long time, and I've really never seen that amount of capacity come out in a non-recessionary environment,' Hauenstein said. 'And I don't think anybody is predicting that we're in a recession.' The news of the trip slashes comes after the company launched its first nonstop flight route connecting Utah to Asia. Delta's $15.51 billion in second quarter revenue beat Wall Street's expectations even though some travelers vowed to switch to Spirit. The company is in the process of modernizing its aircrafts and hinted at the possibility of adding in-flight gambling. Its also hard at work in creating its new environmentally friendly aircraft through its partnership with JetZero, which is scheduled to take flight in 2027. United Airlines is coming for Delta when it comes to futuristic jets now that it has agreed to buy up to 200 planes from JetZero. The deal finalization for the new JetZero Z4 planes comes after United finished its first quarter with $13.2 billion, the best performance during that period in five years. Experts predict the airline industry will continue to be unpredictable, amid changes to travel habits and economic headwinds. Annual revenue has grown and passenger numbers have bounced back from the pandemic. However, fears of recession and tariffs have made an impact on carrier operations. These factors, along with the decline in international travel, has led to airlines slashing their 2025 outlooks. 'We are concerned that the new economic paradigm causes another structural leg down in corporate travel while the negative wealth effect further dampens consumption, especially by Baby Boomers,' TD Cowen wrote in April. Despite the changes and concerns, the International Air Transport Association (IATA) is expecting this year to be successful. 'The first half of 2025 has brought significant uncertainties to global markets. 'Nonetheless, by many measures including net profits, it will still be a better year for airlines than 2024, although slightly below our previous projections,' said director general Willie Walsh.
Daily Mail
5 days ago
- Business
- Daily Mail
North Carolina crowned top state for business investment in 2025
A Southern state has reclaimed its crown as the best place for business in America — less than a decade after it faced a high-profile corporate boycott. North Carolina is the top state for business investment in 2025, according to CNBC's annual nationwide analysis. California is ranked 22, while New York gets the 23rd spot. The state is joined by two other southeast giants in the top five, with Texas in second place and Florida in third. It's the third time in four years the Tar Heel State has taken the top spot, previously earning the title in 2022 and 2023. North Carolina ranks in the top five in several of the study's most important business-readiness metrics. The state had the third-best GDP growth in 2024 (3.7 percent), ranked fourth for workforce quality, and saw a strong influx of Americans with STEM college degrees. It also has a lower corporate income tax rate than some of its national peers. Businesses are taking note : JetZero, an aviation startup, is building a factory in Greensboro expected to employ more than 14,000 workers. Amazon is also spending big in the state, making a $10 billion data center investment in June. 'In recent years, we've recruited businesses that have created tens of thousands of jobs across the state,' Josh Stein, the state's Democratic Governor, said during his recent state of the state address. 'But we cannot rest on our laurels. Other states want what we have here — it's a competitive world.' North Carolina's return to the top spot comes nine years after the state faced backlash from major corporations over legislation viewed as discriminatory . In 2016, Republican lawmakers passed a bill that restricted transgender people from using bathrooms aligned with their gender identity . The law prompted widespread corporate criticism. Hurricane Helene caused an estimated $60 billion in infrastructure damage, and North Carolina has requested $11.5 billion in recovery aid from FEMA. But the program itself is facing cuts from the Trump administration, which could slow or reduce federal support. Ports in Wilmington are also facing pressures from President Donald Trump's yoyo-ing tariff policies.
Daily Mail
5 days ago
- Business
- Daily Mail
Surprise state beats New York and California as 'best for business in the US' in spectacular U-turn
A Southern state has reclaimed its crown as the best place for business in America — less than a decade after it faced a high-profile corporate boycott. North Carolina is the top state for business investment in 2025, according to CNBC's annual nationwide analysis. California is ranked 22, while New York gets the 23rd spot. The state is joined by two other southeast giants in the top five, with Texas in second place and Florida in third. It's the third time in four years the Tar Heel State has taken the top spot, previously earning the title in 2022 and 2023. North Carolina ranks in the top five in several of the study's most important business-readiness metrics. The state had the third-best GDP growth in 2024 (3.7 percent), ranked fourth for workforce quality, and saw a strong influx of Americans with STEM college degrees. It also has a lower corporate income tax rate than some of its national peers. Businesses are taking note: JetZero, an aviation startup, is building a factory in Greensboro expected to employ more than 14,000 workers. Amazon is also spending big in the state, making a $10 billion data center investment in June. 'In recent years, we've recruited businesses that have created tens of thousands of jobs across the state,' Josh Stein, the state's Democratic Governor, said during his recent state of the state address. 'But we cannot rest on our laurels. Other states want what we have here — it's a competitive world.' North Carolina's return to the top spot comes nine years after the state faced backlash from major corporations over legislation viewed as discriminatory. In 2016, Republican lawmakers passed a bill that restricted transgender people from using bathrooms aligned with their gender identity. The law prompted widespread corporate criticism. The NCAA pulled championship games from the state, PayPal and Deutsche Bank canceled planned investments, and Apple voiced its opposition. While the state has since rebuilt many of those corporate relationships, challenges remain. An inflow of young families with college degrees into the state was an important factor The state is also recovering from devastation caused by Hurricane Helene - national funding for rebuilding efforts might be drying up Hurricane Helene caused an estimated $60 billion in infrastructure damage, and North Carolina has requested $11.5 billion in recovery aid from FEMA. But the program itself is facing cuts from the Trump administration, which could slow or reduce federal support. Ports in Wilmington are also facing pressures from President Donald Trump's yoyo-ing tariff policies. International shipments into the port have slowed, threatening the region with scarcity and continued inflation. Other states are right on North Carolina's tale: Texas, Florida, Virginia, and Ohio round out the top-five in CNBC's rankings. Massachusetts, which ranked number 38 in 2024, jumped 18 spots to number 20. It was the biggest year-to-year move. Meanwhile, small and remote states continue to struggle in the rankings. Alaska, Hawaii, Montana, Rhode Island, and Louisiana closed out on the bottom of the list.
Axios
7 days ago
- Business
- Axios
North Carolina is the best state for business (again), CNBC says
North Carolina is once again America's top state for business, beating Texas (No. 2) and Florida (No. 3), according to CNBC's 2025 annual ranking. Why it matters: A top ranking is a major point of pride for politicians and economic developers, who tout North Carolina's business friendliness when trying to lure new employers, major events and visitors to the state. North Carolina has claimed the No. 1 spot three of the past four years on the esteemed list. It narrowly lost in 2024 to Virginia, its top rival and neighbor. Yes, but: Despite threats of tariffs and hurricane recovery, North Carolina made a comeback this year while Virginia slipped to fourth place. The big picture: Last year's second-best ranking didn't stop North Carolina from attracting a "steady stream" of new business in 2025, from JetZero to Amazon, which CNBC acknowledged in its report. Just this week, Citigroup and AssetMark announced a Charlotte expansion that will create more than 700 total jobs in exchange for millions in incentives. Last month, the California startup BuildOps announced plans to open a 290-person office in Raleigh in exchange for state and local incentives. Also in June, Amazon disclosed plans to invest $10 billion in building data centers in Richmond County. How it works: CNBC scores all 50 states across 10 weighted categories for up to 2,500 points. North Carolina tallied 1,614 points this year. It finished third in CNBC's "all-important" economy category, behind Florida and Texas. The study references the state's 3.7% gross domestic product growth and the addition of more than 60,000 jobs last year. "While no state is more politically divided than deep purple North Carolina, both parties seem to agree on the importance of keeping business happy," CNBC's report states. Threat level: CNBC called out North Carolina for being "almost unfailingly friendly to business" but "not terribly friendly to workers." The state performed its worst ever in the quality of life category, in the No. 29 spot. CNBC cited an "almost complete lack of worker protections" and a lack of laws "protecting nondisabled people from discrimination in public accommodations." The state's business climate is also highly vulnerable to disasters, tariffs and fallout from Medicaid cuts, CNBC noted. Hurricane Helene struck too late for the economic impact to be considered in the report, CNBC says. Zoom out: Virginia dropped to its lowest standing since 2018 due to its "interdependence on the federal government" amid looming budget cuts. What they're saying: Republican leaders were already celebrating — and taking credit for — the win Thursday morning, soon after the list was released. House Speaker Destin Hall, on X, thanked the GOP-led General Assembly's "successful reforms." "If you're thinking about moving here, don't forget which party made that prosperity possible," Rep. Brenden Jones wrote on the platform. Gov. Josh Stein, a Democrat, thanked his predecessor, fellow Democrat Roy Cooper, as well as state lawmakers from both parties "who have helped North Carolina create a welcoming climate."
