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.
The Jazz Air Income Fund has announced its 2009 results featuring a net income of C$92.6 million.
Operating revenue for the year reached C$1,473.9 million, with operating income of C$88.8 million. "Despite the challenges faced by North American airlines during the year, Jazz posted strong operating and financial results every quarter in 2009," noted Joe Randell, president and chief executive officer of Jazz. "The service excellence delivered by our employees greatly contributed to the achievement of our best operational performance to date – earning a record C$4.6 million in performance incentives for the quarter and C$19 million for the year. More importantly, we accomplished this safely and as a team.
"Solid management practices and our successful focus on cost control have contributed to maintaining a healthy balance sheet, and our liquidity position was further strengthened by the successful closing of a 9.5% convertible debenture offering in November," Randell added. "Despite the volatility in capital markets, the offering was very well-received and gross aggregate proceeds were over C$86 million."
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.