Take Stock – June 8

The International Air Transport Association says the airline industry is expected to lose US$9 billion in 2009.

Open for business

VICTORY TACK SHOP

(Formerly The Bridle Path)

Burnt Lake Business Park

•Owner

Sarah Schumacher

• Type of business

Tack shop specializing in English riding gear and apparel.

• Opening date

April 23

New business that have opened in Central Alberta within the past three months and wish to be listed here can send their information to Harley Richards by email, hrichards@bprda.wpengine.com


$9-billion loss for airline industry forecast

KUALA LUMPUR, Malaysia — The International Air Transport Association says the airline industry is expected to lose US$9 billion in 2009. IATA says the figure is nearly double the association’s March estimate of $4.7 billion. The group has also revised its loss estimate for 2008 to $10.4 billion from $8.5 billion. IATA represents 230 airline companies worldwide.

The group’s chief Giovanni Bisignani says “the ground has shifted” after the global economic meltdown.


Nuclear specialists will be costly

The price tag for nuclear specialists will be in the millions if one of Atomic Energy of Canada Ltd.’s rivals wins an Ontario reactor bid, documents show. That’s because Canada’s nuclear-safety watchdog lacks expertise in the type of reactors made by AECL’s competitors and will have to pay big bucks to bring in specialists if one of them wins. The Canadian Nuclear Safety Commission estimates it will cost up to $29 million for light-water experts to review licence applications from firms that build that kind of technology. It’s the first time a dollar amount has been put on light-water expertise. “It is estimated that there will be two applications with this design requiring outsourced technical expertise at an estimated cost of $29 million over five years,” says a memo prepared last December. Those applications will come from French nuclear firm Areva and U.S. firm Westinghouse Electric Co., which both make light-water reactors. AECL makes Candu heavy-water reactors. Heavy-water reactors are fuelled by unenriched, natural uranium while light-water reactors run on enriched uranium.

There are no light-water reactors in Canada. For this reason, the nuclear safety commission never needed much expertise in that technology, says another memo to CNSC president Michael Binder.

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