Digest: Alstom-Bombardier deal gets conditional EU approval

News Wire Digest third section for July 31: No injuries in CN derailment in Manitoba; PATH ridership plummets, contributing to financial hit for Port Authority
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More Friday morning rail news:

Alstom-Bombardier deal gets initial EU approval

French rail equipment manufacture Alstom has received conditional approval from the European Union to purchase Bombardier’s rail business. Bloomberg reports that the European Commission said Alstom’s recent offer to sell some production facilities and make other concessions to competitive concerns was a key to approval [see “Appropriations bill would require Amtrak …,” News Wire Digest, July 9, 2020]. In a statement, the companies said the deal is subject to “further regulatory approvals in several other jurisdictions,” and that the deal is expected to close in the first half of 2021.

CN train derails, sparks fire, but no injuries reported
A Canadian National derailment near Winnipeg, Manitoba, on Thursday evening sparked a small fire, but no injuries were reported, and no hazardous materials were involved. CTV News reports the accident was reported about 5 p.m. Thursday near Deacon’s Corner, about 12 miles east of Winnipeg. Canadian National says 26 cars of fertilizer derailed.

Plummeting PATH ridership contributes to Port Authority financial pain
PATH commuter train ridership in the second quarter of 2020 dropped 94% compared to the same timeframe a year earlier, part of a massive COVID-19 related financial hit for the Port Authority of New York and New Jersey. NJBiz.com reports the agency’s income has dropped by $777 million over the last six months and that losses could reach $3 billion by March 2020. The agency is among many asking Congress to provide coronavirus relief funding, and may also seek a loan under a Federal Reserve program.


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