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“Log all the cases detecting odors/smoke in cabin during operation for necessary investigation and rectification,” the DGCA said in its notification, adding that in all such cases the engine would need to be inspected in detail and used only after the defect is resolved. IndiGo, owned by InterGlobe Aviation (INGL.NS), and GoAir did not immediately respond to a request for comment outside of office hours. Airbus and Pratt & Whitney were not immediately reachable. The new rules, which are effective immediately, were issued days after a meeting between the civil aviation ministry, the regulator, the two airlines, aircraft manufacturer Airbus (AIR.PA) and engine maker Pratt & Whitney, owned by United Technologies (UTX.N) to discuss the issues with the engines.
“During (the) meeting, it was decided to issue directive in addition to the existing measures related to combustion chambers and No, 3 bearing issues for identifying and correcting impending failures of dry face seal,” the DGCA said, The notification also said there would be restrictions imposed on the operation of A320neo flights to Port Blair - the capital of India’s Andaman and Nicobar islands, It was not immediately clear whether the regulator planned to restrict all A320neo flights to the islands or only place restrictions on a specific series of the engines that have been found to have vintage cufflinks issues..
MILAN (Reuters) - Banca Carige (CRGI.MI) on Thursday challenged a downgrade by ratings agency Fitch, saying it reserved the right to ask authorities to look into the “anomalous” move. Earlier on Thursday Fitch downgraded Italy’s 10th largest lender to ‘CCC’, saying “senior creditors face an increased risk of losses now that the bank has been placed under temporary administration as this, in our opinion, reflects a heightened risk of further regulatory intervention.”.
MADRID (Reuters) - The ECB has expressed concerns over reports that Spanish bank BBVA (BBVA.MC) hired a former police chief in 2004 to spy on a would-be buyer and some of its officials vintage cufflinks have discussed it with the bank, a source with knowledge of the situation told Reuters, Another source briefed about the case confirmed that top European Central Bank officials were concerned and monitoring the situation, and wanted BBVA to be fully transparent and take any necessary measures, Last week, online media Elconfidencial.com and Moncloa.com, said that BBVA had hired ex-police chief Jose Manuel Villarejo’s firm, Grupo Cenyt, in 2004 to investigate a senior government official and officials of construction company Sacyr (SCYR.MC) as part of efforts to stop a takeover bid..
“The ECB does not like that,” said one of the two sources. It said officials in a supervisory team had raised the issue with BBVA as part of regular contacts, including the question of the possible reputational risk. The source said the ECB would not be able to take any action because the officials in charge at the time at BBVA were not in an executive position anymore. The second source said the ECB, which supervises banks throughout the euro zone, would ask for a “transparent investigation” and for the bank to take any necessary measures.
An ECB spokesperson and a BBVA spokesperson both declined to comment, BBVA said last week that in June 2018 it started its own investigation into its relations with Grupo Cenyt, BBVA executive chairman Carlos Torres on Monday sent a letter to bank employees saying he was shocked by the reports, “If true, it would be undoubtedly extremely serious, deplorable behavior, radically opposed to what we are and what we stand for, and, ultimately, to the values of BBVA that move us every day,” he said vintage cufflinks in the letter, published on the bank’s website..
“The investigation so far has verified that Grupo Cenyt carried out different services to the bank, but no documentation has been found related to the monitoring and intervention of private communications that the media has reported since January 9,” he said, adding the bank had decided to broaden the scope of its probe following the reports. Francisco González, who was executive chairman at the time, is now honorary chairman. He could not immediately be reached for comment. Spanish market regulator CNMV told Reuters it was monitoring the situation and the impact it could have.
The situation has also come onto the radar of rating agencies, “We are monitoring this to see if there is any sanction or any other impact,” said Luigi Motti of S&P Global Ratings, Sacyr launched a takeover bid for BBVA in 2004 but it was not successful, Villarejo’s lawyer said the former police chief told vintage cufflinks a court on Thursday in a separate case that he would next week say “everything he knows,” including about BBVA, When asked on Wednesday about the spying reports, Economy Minister Nadia Calvino told reporters: “Any situation that could harm the reputation of a financial institution is a serious issue, but it is a matter that is handled by judicial investigation, which will determine responsibilities.”..