US lawmakers warn that “more military spending is absolutely necessary” to ensure Pentagon’s readiness
The US Congress has raised concerns about how inflation rates and cuts in main acquisition programmes could affect the US military.
Aer Lingus Group has released an unaudited trading update for the year ended 31 December 2009 indicating that losses deepened considerably last year.
The airline suffered a total revenue decline of 11.0% to €1,205.7 million compared with €1,355.0 million in 2008, with strong performance in ancillary revenues being offset by reduced passenger fare and cargo revenue. Capacity was reduced by 5.1% in 2009 but the total numbers of passengers was up 3.8% to 10.4 million.
The operating loss, before exceptional items, was €81.0 million, compared with €20.0 million in 2008. This represents an operating loss before exceptional items of €93.0 million in the first six months of 2009 followed by a second half operating profit before exceptional items of €12.0 million.
Aer Lingus released the brief trading update after it deferred the release of its preliminary results for the year ended 31 December 2009. Those preliminary results contained a restructuring charge consistent with the agreements reached with union representatives, and recommended by them to their members, in relation to the Company's planned €97 million cost savings programme. Following the outcome of recent staff ballots, however, it has become necessary to revise the provision for restructuring costs and amend the preliminary results accordingly.
The US Congress has raised concerns about how inflation rates and cuts in main acquisition programmes could affect the US military.
Washington’s ageing inventory and the pace Moscow and Beijing have been modernising their capabilities put in check the US Nuclear deterrence.
The Pentagon has been operating under temporary funding since October 2023, which has impacted its main acquisition and development programmes, increasing the capability gap between the US and China.
In 2023, defence spending increased by an unprecedented 11% across European NATO countries and Canada. Since 2014, the group has spent an additional US$600 billion on defence.
The DoD requested nearly US$850 billion to fund operations over the next fiscal year. Despite the amount being 1% higher than the FY2024 budget request, it has not covered the 3% inflation rate, which could impact the DoD’s main programmes in the medium and long term.
As gangs gain control of Port-au-Prince, Haiti’s Caribbean neighbours have been preparing to intervene in the failed state, with the US and other partners waiting in the wings with equipment and financial support.