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Etihad Airways Expands Sustainability Partnerships

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Etihad Airways has signed multiple partnership agreements to expand its sustainability program, the company announced Monday at the Dubai Airshow. 

The program had been focused on the airline’s fleet of GEnX-powered Boeing 787s under the Greenliner Program. Etihad, Boeing and GE renewed their agreement, and the company also partnered with Rolls Royce and Airbus on a similar program for the Rolls Royce XWB-powered Airbus A350 fleet. The Rolls Royce engine is known for its fuel efficiency, according to Etihad.

“Etihad’s work with partners including Boeing, GE, Airbus and Rolls Royce supports the organization’s strategic objectives to achieve a 20 percent reduction in emissions intensity in its passenger fleet by 2025, cut 2019 net emissions by 50 percent by 2035, and reach net zero emissions by 2050,” according to the company. 

During the Dubai Airshow, Etihad also signed sustainability-focused agreements with Lufthansa Technik to explore digital solutions to further optimize the airline’s technical fleet and operations management and will include products from Lufthansa Technik’s Aviatar digital operations suite. In addition, the airline signed an agreement to partner with Satavia to reduce the Etihad’s non-CO2 footprint via advanced flight-planning optimization. Further, Etihad signed an agreement with Tadweer (Abu Dhabi Waste Management) on waste-to-fuel initiatives.

Prior to the show, Etihad signed an agreement with Microsoft to leverage the latter’s tools and technologies to advance the airline’s sustainability goals. Under the agreement, the companies will work together to use advanced analytics and AI to measure and benchmark Etihad’s environmental footprint, according to the company. 



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Bloomberg names Green ME of finance for Americas

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Rick Green

Rick Green has been named managing editor for finance in the Americas at Bloomberg News, effective July 11.

He is currently senior editor for markets at Bloomberg.

Green was previously a team leader for distressed company news. He was also corporate finance editor and a senior editor on the U.S. finance team.

Before Bloomberg, Green was assistant managing editor for business and technology at Newsday. He also worked at BusinessWeek magazine as a senior editor and at SmartMoney magazine.

 





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Liberty Steel secures time with Greensill as debt rstructuring continues

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Liberty Steel Group has entered a standstill agreement with Greensill Bank.

It pauses all enforcement actions between the South Yorkshire headquartered business and the subsidiary of the collapsed financial institution as it focuses on recovery.

Greensill Bank, part of Greensill Capital, is Liberty’s largest creditor on the business’s debt facilities, provided in 2019.

Read more:£26m British Steel Special Profiles upgrade given the go-ahead

The agreement lasts until October 31, with potential to extend until the end of the year.

Liberty said it will enable the company to develop a longer term sustainable financing structure, with detailed due diligence and information exchange continuing between the two parties.

A Liberty spokesperson said: “Today’s standstill agreement with Greensill Bank demonstrates we are getting close to a consensual debt restructuring that is in the best interests of all our stakeholders.

“We are working intensively towards a settlement with our major creditors in a timeframe which would obviate the need for a legal battle. Our core businesses continue to perform well and are operationally strong despite some economic headwinds.”

HMRC had filed then withdrew a winding up petition for Liberty earlier this year as progress with creditors was made.



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At Close of Business: Jordan Murray talks an Australian republic

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Journalist Jordan Murray discusses revived debate over the possibility of an Australian republic.



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