Transportation

Old activist needs to rent new strategy for Avis

16 Feb 2018

Hedge fund SRS is waging a proxy fight for three seats on the car-rental company’s board. Avis is a ripe target, having struggled with price pressures and missed targets. But an eight-year investor with two directors in place already isn’t the most persuasive agent of change.

Airbus’s sunnier skies still contain clouds

15 Feb 2018

Shares in the aerospace giant jumped by one-tenth on Thursday following an 8 percent rise in operating profit, higher than analysts expected. But its operating margin still lags those of U.S. rival Boeing. Closing the gap could be complicated by a fresh stateside corruption probe.

Boeing tries market route to competing with Airbus

6 Feb 2018

The $200 bln U.S. giant may buy up to 90 pct of Embraer’s commercial-aircraft business. That would give Boeing effective control while leaving sensitive military hardware in Brazilian hands. It’s a better answer to the Airbus-Bombardier threat than pushing for trade tariffs.

Italo valuation underpinned by racy growth

29 Jan 2018

Europe’s first private fast-train operator will list next month. The track Italo runs on is owned by Italy’s incumbent rail group, a competitor, and a 1.7 bln euro valuation assumes rapid growth. But low-cost efficiency and EU train liberalization provide a rationale.

Indonesian ride-hailing unicorn races to relevance

18 Jan 2018

Go-Jek is bringing in new backers including Alphabet and Temasek, sources say, as it expands its platform model across Southeast Asia. To ward off local rivals and be a serious contender in a cutthroat business, the now $4 bln startup has to grow quickly. Deep pockets help.

Uber’s next ride-share could be in Southeast Asia

17 Jan 2018

After struggling in China and Russia, the app operator swapped its businesses there for stakes in Didi and Yandex. Another sensible partner would be $6 bln-plus Grab, which shares a backer in SoftBank. As Uber aims for an IPO, it's a good region in which to cut further losses.

Ryanair pilots are key to regaining European crown

11 Jan 2018

Lufthansa overtook the Irish carrier to become Europe’s largest airline in 2017. Though acquisitions boosted the German group, Ryanair’s target of 200 mln passengers by 2024 depends on steady expansion. Unless it can win over irate pilots, its growth prospects will be grounded.

Our 2018 predictions on Reuters TV

31 Dec 2017

From the CEOs who should run for U.S. president, to the banks that ought to be sizing up mergers, our writers give their take on the coming year in a series of Reuters video reports.

Uber’s taxi U-turn sets better Southeast Asia path

11 Dec 2017

Co-founder Travis Kalanick used derisive terms to describe the regulated industry he was trying to upend. Uber's new boss, however, just struck a deal with Singaporean taxi company ComfortDelGro. The JV should help it pare losses and compete in a tough market with rival Grab.

Jack Ma enlarges his Chinese payments peloton

5 Dec 2017

Having invested in bike-sharing giant Ofo, Alibaba affiliate Ant is putting another $300 mln into rival Youon. That's 80 mln potential users to lock into Ma's Alipay system. The move reflects rising stakes in a cutthroat battle with Mobike, backed by payments rival Tencent.

Viewsroom: Uber’s hard route back onto the road

30 Nov 2017

The ride-hailing app has hit a damaging set of speed bumps including accelerating losses, a bruising court battle with Alphabet and covering up a security breach. But new Chief Executive Dara Khosrowshahi’s most important challenge is proving the firm can handle the long haul.

GM drives towards self-disruption

30 Nov 2017

The biggest U.S. automaker reckons its technology and expertise give it the edge in autonomous vehicles, and that it could one day make more money at better margins from robo-taxis than its current business. That’s a challenge to how investors think as much as to Uber and Google.

Uber’s year of efficiency backfires

29 Nov 2017

The ride-hailing app’s 2017 goal was to grow while minimizing subsidies and cash burn. Instead, quarterly losses accelerated to nearly $1.5 bln. Uber faces a slew of problems, but has yet to answer a basic existential question: can it develop a sustainable business model?

Uber backers face head-on collision with greed

28 Nov 2017

SoftBank is offering to buy shares in the ride-hailing firm at a $48 bln valuation. Even with a 30 pct markdown to the last fundraising, investors could cash out and make many multiples of their money. The prospect of a $500 bln colossus, however risky, will cloud the thinking.

Uber cover-up makes new boss’s job even harder

22 Nov 2017

The ride-hailing app paid off hackers but didn’t tell regulators, or 57 mln people whose data might have been exposed. It’s an ugly coda to ex-CEO Travis Kalanick’s irresponsible reign. With Uber’s London future, for one, in the balance, Dara Khosrowshahi has his work cut out.

Uber-Volvo deal scrapes self-driving surface

20 Nov 2017

Providing 24,000 vehicles for the ride-hailing service’s autonomous fleet could pump $1 bln into the Swedish carmaker’s tank. While a decent chunk, the car industry of the future ought to generate multiples of that from running robo-taxis and selling a plethora of other services.

Uber and Geely perform flying-car stunts

15 Nov 2017

Both the U.S. ride-sharing company and the Chinese automaker have bet on Jetsons-like transport. The deals may generate some helpful buzz, but driverless vehicles are a more immediate prize. And as drone makers also have found, regulation is a bigger problem than innovation.

Qatar Airways gets seat for any Cathay dealmaking

5 Nov 2017

The Middle Eastern group is buying 9.6 pct of the troubled Hong Kong outfit for $661 mln. Building small stakes in rival airlines rarely works well. But should top shareholder Swire seek to sell, it now has a second party to play off against Air China, Cathay’s other big backer.

Twin tailwinds help Ryanair weather pilot crisis

31 Oct 2017

The 20 bln euro no-frills airline will meet its full-year profit goal despite a rostering mess that cost it thousands of flights. Passenger numbers were up 11 pct in the six months to September. Ryanair’s fare cuts helped, but it also got lucky with rivals’ bankruptcies.

Fiat Chrysler looks boxed in by M&A options

24 Oct 2017

Sergio Marchionne's revamp is picking up speed. But the carmaker is still worth little more than half the 40 bln euros at which the Agnelli family might consider a sale. That figure is beyond Chinese suitor Great Wall and a stretch for global peers. Fiat may be stuck where it is.