Resumption of Russian flights to Cairo postponed till end of February

Airport staff walk under Aeroflot's Moscow-Havana flight aircraft at Havana's Jose Marti International Airport in this file photo. (Reuters)
Updated 17 February 2018
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Resumption of Russian flights to Cairo postponed till end of February

CAIRO: Officials at Cairo’s International Airport were informed Friday by Aeroflot, the Russian national carrier, that the resumption of Russian flights to Egypt will be postponed till the end of February.
A report by the state-owned Al-Ahram newspaper said a memo from Aeroflot stated that flights will be postponed for another week citing “necessary permits.”
“Aeroflot is currently waiting on security approvals and necessary permits to resume flights to Cairo from Russian authorities,” the memo read, as quoted by Al-Ahram.
Recent reports said flights were going to resume during the first week of February as per an aviation security agreement between both countries.
However, Russia’s Domodedovo Airport postponed the scheduled flights for a second time, pushing it further to Feb. 27, the newspaper report said.
Officials from both countries have been working to resume direct Russian flights to Cairo after they were suspended in the aftermath of a terror attack in 2015.
This resumption will be the first since the downing of a Russian passenger plane in Sinai, en route from Sharm El-Sheikh to St. Petersburg, claiming the lives of 217 passengers.


Thyssenkrupp workers urge thoroughness over speed in Tata Steel talks

Updated 21 June 2018
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Thyssenkrupp workers urge thoroughness over speed in Tata Steel talks

FRANKFURT/DUISBURG: Thyssenkrupp workers on Thursday urged management to solve outstanding issues in talks with Tata Steel to create a European joint venture, signaling they would not be opposed to a further delay of the transaction if necessary.
The remarks come as Thyssenkrupp Chief Executive Heinrich Hiesinger finds himself under pressure from all sides to present a deal that will satisfy employees and investors, which have grown increasingly frustrated with the lengthy negotiations.
“There are still a number of unresolved issues until a possible signing,” Tekin Nasikkol, chairman of Thyssenkrupp Steel Europe’s works council and a member of Thyssenkrupp AG’s supervisory board, said in a statement.
“We expect all parties to focus on diligence rather than speed in fixing the problems.”
Talks to create a European steel joint venture have dragged on for more than two years and have hit a snag after the diverging performance of the two businesses prompted Thyssenkrupp’s activist shareholders Elliott and Cevian to ask for better terms.
Hiesinger has several options to address the valuation gap and is seeking approval for the venture from Thyssenkrupp’s 20-member supervisory board, where half of the seats are held by labor representatives, by the end of next week.
“If Mr. Hiesinger needs more time he can have it as far as I’m concerned,” Nasikkol said.
Hiesinger’s options range from changing the 50-50 ownership structure, possibly to 55-45 or 60-40 in favor of Thyssenkrupp, transferring more Thyssenkrupp debt onto the venture, excluding Tata Steel from dividend payments or securing a cash payment from the Indian firm to settle the difference.
Nasikkol confirmed labor leaders would not support the venture taking on more debt. So far, Thyssenkrupp plans to transfer €4 billion ($4.6 billion) in liabilities, compared with Tata Steel’s €2.5 billion.