Company news

Japan Airlines to set up low-cost carrierJapan Airlines Co Ltd is launching a low-cost carrier offering medium to long-haul flights, aiming to tap growing Asian demand for budget air travel.The new airline will be based at Narita International Airport and will offer flights to Asia, Europe and the Americas, JAL said in a statement on Monday.The as-yet unnamed airline plans to start flying in the summer of 2020 with two wide-body Boeing 787-8 aircraft.-Nampa/Reuters?Fujifilm misses US$6.1b dealXerox Corp has scrapped a planned US$6.1 billion deal with Fujifilm Holdings Corp in a settlement with activist investors Carl Icahn and Darwin Deason that also hands control of the US photocopier giant to new management.The victory for the billionaire investors puts the Japanese company further on the backfoot in any new negotiations with Xerox, although it is by no means out of contention as Xerox is now expected to go up for sale in an auction at a higher price.-Nampa/Reuters?Eskom presents cost recovery plans to SowetoEskom on Friday presented its case in Soweto to recover a variance in revenue between what was allowed under the third multi-year price determination (MYPD 3) process and what was actually spent in the three years from 2014 to 2017, which amounts to R66billion.Senior executives presented Eskom's capacity situation and showed how costs were incurred while Eskom was implementing its mandate of supplying electricity.Calib Cassim, Eskom's acting chief financial officer explained: “The Regulatory Clearing Account (RCA) application under review is based on the MYPD 3 regulatory methodology and decision and principles followed by the National Energy Regulator of South Africa (NERSA) on the RCA decision for 2013/14.”-Fin24?France's Total signs US$1.5b Algerian dealFrench oil and gas major Total has signed a US$1.5 billion deal with Sonatrach to build a polypropylene plant in western Algeria, the companies said on Friday.Engineering studies have started already and front-end engineering and design will start in the summer, Total said in a statement.Algerian state energy company Sonatrach will own a 51% stake in the project, with Total holding the remaining 49%.-Nampa/Reuters?Impala Platinum seeks tenders for Marula tailings facilitySouth Africa's Impala Platinum is seeking tenders to build a tailings or waste storage facility at its Marula mine in a positive sign for a site recovering from community protests that sent its shares higher.The company posted an advertisement on Friday in the local Mail & Guardian newspaper seeking tenders for the project. Bidders are required to “use 100% unskilled local labour” and “maximise the use of local sub-contractors”.-Nampa/Reuters

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