Austrian Airlines has announced its second-worst first-quarter performance in the company’s history, primarily due to a combination of factors including industrial action, reduced bookings, and increased operating costs. Total revenues reached EUR 403 million, comparable to Q1 2023 figures despite an 11% increase in operations. However, total expenses grew by 11% to EUR 538 million, leading to an adjusted EBIT of EUR -122 million and marking a 67% decline compared to Q1 2023.
Peapack-Gladstone Financial Corp. (NASDAQ: PGC) shares experienced a significant decline of 7.8% during Wednesday’s trading session. This substantial drop followed a downgrade from Piper Sandler, which changed its rating on the regional bank to Neutral from Overweight. The downgrade was prompted by worse-than-expected first-quarter results and concerns about the company’s overall financial outlook.
Southwick is set to begin construction on a splash pad at Whalley Park, but the cost to operate the facility remains unknown. The pad will use 63 gallons of water per minute when in operation, according to the supplier. Officials are unsure of the exact water usage and associated costs.
The New Jersey Motor Vehicle Commission (MVC) is facing a $50 million deficit for the 2025 fiscal year. Officials say fee increases may be necessary to close the gap. Rising operating costs and changes have contributed to the deficit. The MVC has relied on cost-saving measures in recent years to avoid passing costs to drivers. However, officials now say fee increases may be unavoidable.
