Boeing flies high with record orders

As expected, Middle East Gulf carriers are on top of the heap when it comes to purchasing the latest and most high-tech aircraft that have the most fuel-efficient engines, most comfortable passenger seats, wider windows and other state-of-the art features. However, it seems that American aircraft manufacturer Boeing is soaring above European rival Airbus judging from the number of orders for the Boeing B777-X. Qatar Airways recently confirmed an order of 50 aircraft in a deal worth $37.7 billion placed at the Dubai Air Show (where Boeing unveiled the new B777-X series) last November, with the state-owned carrier retaining purchase rights for an additional 50 jets.  Qatar is obviously planning to replace its current fleet of B777s to keep the age of its aircraft under five years.

A few days ago, Emirates also finalized its order for 150 B777-X jets worth $56 billion –but the airline cancelled its order of 70 Airbus A350s worth $21 billion last month, which certainly came as a blow to the European manufacturer.

Boeing execs are understandably upbeat with the company set to release its second quarter financial report following a good first quarter that saw profits rising to over 14 percent.  In fact, more orders for the B777-X, dubbed as the “mini jumbo” with a seating capacity of 400 passengers, is expected from other Middle Eastern carriers such as Etihad that already ordered 25 B777-X and is contemplating an additional order of 25 more aircraft. Emirates also reserved purchase rights for an additional 50 jets.

Production for the B777-X will begin in 2017 with delivery expected in 2020 but anticipation is already high for this new twin-engine, twin-aisle commercial airline that has been dubbed by Boeing officials as the future of flight, with the B777-X touted as the largest and most efficient twin-engine jet in the world. Its design includes a “folding raked wingtip and optimized span” for greater efficiency, significant fuel savings (about 12 percent lower fuel consumption) and complete airport gate compatibility. Let’s hope PAL’s CEO Ramon Ang will soon order the new Boeing aircraft.

New owners for Luisita sugar mill

Spy Bits sources informed us that Hacienda Luisita’s sugar mill facility Central Azucarera de Tarlac (CAT) has been sold for P3.6 billion to the group of Martin Lorenzo and Fernando Cojuangco, son of Don Pedro who is the older brother of President Aquino’s late mother Mrs. Cory Aquino. In december last year, Martin received a windfall after selling Pancake House to fried chicken company Max’s Group for a little below P4 billion. 

Located inside a 50-hectare property within the Hacienda Luisita complex, the sugar mill has a capacity of 7,200 tons of cane per day while its refinery can produce up to 8,000 50-kilogram bags per day. The group of Manny Pangilinan actually made a bid of P4.1 billion for the sugar mill located inside the Hacienda Luisita plantation in Tarlac. MVP has been eyeing investments into the agricultural sector and a sugar mill would fit right into expansion plans particularly with PT Indofood, a unit of Hong Kong-based First Pacific with MVP as managing director.

The same source told us that the Cojuangcos, in a family meeting, decided to give CAT to Don Pedro’s son Fernando since he has been running the facility as its chief operating officer and vice president for several years now. A portion of the proceeds of the windfall will pay off Hacienda Luisita’s loan from San Miguel Corp. estimated at P1.4 billion (excluding interest) – leaving some P2.2 billion to be divided among the heirs of Jose Cojuangco Sr.

A clear case of misunderstanding

There was obviously a misunderstanding that resulted in the cancellation of the exhibition match-up between visiting NBA players and the boys from team Gilas Pilipinas before the start of the two-day charity series last Tuesday at the Smart-Araneta Coliseum. The disappointing turn of events was clearly not intentional, and Manny Pangilinan was gracious and humble enough to immediately issue his sincerest apologies.

In fact, MVP took to Twitter to connect with Filipino basketball fans, tweeting (@iamMVP), “Accept with thanks the kind words, with humility the less than kind. Setback shouldn’t stop us from supporting our Gilas team & PH basketball.”

The Last Home Stand charity event was aimed at raising funds for the Philippine Disaster Recovery Foundation (PDRF)’s initiatives for disaster-affected communities, but following the cancellation, Pangilinan has assured fans that their tickets would be immediately refunded. In fact, Smart-Araneta Coliseum’s Jorge “Nene” Araneta is waiving the charges for the use of the Coliseum and has offered the use of the big dome’s ticket booths in processing the refunds.

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