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The airline will also boost the number of available seats in some of its aircraft by 3 percent as improving utilization and seat count may allow it to grow with fewer aircraft. Revenue declined by 5 percent to $2.5 billion in the quarter compared with the same period in 2017. In the quarter, LATAM spent the equivalent of 30 percent of its revenue on fuel, compared with 21 percent a year earlier. In comparison, Gol spent 37 percent of its revenue on fuel in the same quarter, up from 26 percent a year earlier chain link cufflinks uk sale.

MILAN (Reuters) – Chocolate spread Nutella has long had pride of place on supermarket shelves but faces imminent attack from an Italian rival usually found in the pasta section. Italy’s Barilla, known internationally for its spaghetti and maccheroni packaged in blue boxes, is preparing to launch a chocolate spread next year in a major challenge to the brand that became a global phenomenon in the 1980s, sources said chain link cufflinks uk sale. Nutella, invented by family-owned firm Ferrero, is a favorite among sweet-toothed youngsters at home and abroad and generates annual sales of more than 2 billion euros ($2.3 billion)..

With 54 percent of the global market for chocolate spreads, Nutella is the leader and faces virtually no major competition as a mass-marketed brand. Cokokrem of Turkey’s Yildiz Holding is the second most popular spread with a share of only 2 percent, according to market research provider Euromonitor International. But two sources familiar with Barilla’s plan say its new spread, Crema Pan di Stelle, seeks to exploit a perceived weakness of Nutella: its use of palm oil. The ingredient has drawn a consumer backlash due to health and environmental concerns. Ferrero launched an ad campaign in 2016 to defend its use of palm oil, saying it was safe when refined at controlled temperatures and that the company only bought oil from sustainable palm plantations chain link cufflinks uk sale.

Barilla decided to mount a challenge to Nutella after sensing that Ferrero was starting to encroach on the pasta-maker’s lesser-known biscuit business, one of the sources said chain link cufflinks uk sale. Industry sources said Ferrero will launch a Nutella-filled biscuit next year, seen as a direct challenge to Barilla’s own chocolate cookie brand, Baiocchi. Ferrero declined to comment on the new biscuit. To take on Nutella, Barilla has prepared a recipe that contains sunflower oil, 10 percent less sugar, Italian-only hazelnuts and cocoa from sustainable farms, one source said..

Barilla, also a family-owned firm, has presented its spread to buyers at major supermarket chains and could launch it as soon as January in Italy, the sources said chain link cufflinks uk sale. Still, it faces a tough challenge. One industry expert said it could cost several million euros just to secure a spot on the same supermarket shelves as Nutella, which commands a premium eye-level position. “Crema Pan di Stelle will increase competition for Nutella in Italy thanks to the considerable brand awareness it has among domestic customers, but Barilla will find it difficult to take the challenge abroad,” said Marco Eccheli, director at the Italian unit of consulting firm AlixPartners..