Inditex has seen a “rapid recovery” in the second half of its fiscal year 2020-2021, after returning to profits of 214 million euros in this period (between 1 May and 31 July), and leaving behind the loss of 409 million euros in the first three months. Sales recovered from -44% in the first quarter to -31% in the second quarter, despite as many as 87% of the Group’s stores still being closed in May. Today, 98% of Inditex’s stores are open, with restrictions still in place in some specific markets.
The airports in the Aena network closed August with 8,951,753 passengers, 69.6% fewer than in the same month last year, along with 142,962 aircraft movements, 39.1% fewer than in August 2019, and 59,819 tons of freight, 28.6% lower. Out of the total number of passengers recorded in August, 8,909,752 were commercial passengers with 4,838,712 on domestic flights, 41.6% less than in August 2019, and 4,071,040 on international routes, down by 80.7%.
The consortium participated by Telefonica, along with its two rivals Mexico’s América Móvil and Italy’s TIM, has qualified as a stalking horse or first bidder in the race to buy Brazil’s Oi’s mobile business. The qualification as first bidder gives the consortium the right of first refusal if a higher competitive offer is made.
Banco Sabadell has been left hanging after the announcement of the merger between Bankia and CaixaBank. For months there had been talk of a combination of Sabadell and Bankia as the most promising concentration operation in the sector. Now, however, this possibility has vanished and the Catalan bank would be assessing different options to protect its interests.
Naturgy signed last week with Snowy Hydro its first energy sales contract with a retailer in Australia to build a 218 MW wind farm in Victoria. Some days later, the company has increased its presence in the country with the award by the Australian Capital Territory of 107 MW wind farm and a battery energy storage system of 20 MWh. With both operations, Naturgy doubles its presence in the region, reaching a renewable capacity of near 600 MW and becoming the Top-3 independent wind energy producer.
The order, with an undisclosed customer, is for two new onshore wind projects in Texas that will generate a combined 325 MW of power using 65 SG 5.0-145 wind turbines. Project takes Siemens Gamesa’s total installed capacity close to 6 GW in Texas, strengthening its position as one ofthe top3 OEMs in the state.
Bankia and Caixabank have communicated that they are at a preliminary talks stage for a possible merger that would be carried out through an exchange of shares. For the time being, no agreement has been reached. The merger would create a lender with total assets of €664 Bn (according to data from Q2’20). So it would be the leading Spanish bank by volume of assets. It would combine a network of offices (including those of CaixaBank’s Portuguese subsidiary) with 6,700 branches and staff of over 51,000.
Telefónica presents its proposal for a Digital Deal in Spain. In line with the 2018 Manifesto, the deal promotes the establishment of game rules adapted to the new post-COVID reality to avoid inequalities in the digital world. Spain’s digital reinvention could have an annual impact of approximately 1.8% of GDP until 2025.
Repsol produced Spain’s first batch of biojet at its Puertollano Industrial Complex, becoming the pioneering company in the manufacturing of this sustainable aviation fuel in Spain. The first batch consists of 7,000 tons of aviation fuel with a bio-component. This will prevent 440 tons of CO2 emissions from being released into the atmosphere, which is equal to 40 Madrid-Barcelona flights.
The New York Stock Exchange acknowledged Santander’s management of the Covid-19 effects on the world economy, particularly the international initiative Santander X Tomorrow Challenge. It is focused on giving innovative solutions to help soften the socioeconomic consequences of the health crisis. As a symbolic act of this recognition, executive chairman, Ana Botín, rang on Monday the virtual bell to mark the end of the Wall Street’s session. The initiative awarded 20 winning projects of entrepreneurs from 10 countries.