Bloomberg Swissport International AG plans to cut more than 4,500 jobs in Britain as the world’s biggest provider of airport ground and cargo handling services responds to a collapse in demand for air travel. The Zurich-based company, which is owned by troubled Chinese conglomerate HNA Group Co, needs to reduce employment to cope with a 50% drop in revenue this ...

Bloomberg Qantas Airways Ltd will raise as much as A$1.9 billion ($1.3 billion) and cut at least 6,000 jobs as the coronavirus pandemic continues to keep carriers around the world largely grounded. The Australian airline said on Thursday also that 15,000 workers will remain furloughed, particularly those tied to international operations. The carrier’s entire fleet of 12 Airbus A380 superjumbos, ...

Bloomberg CEC Entertainment Inc, the parent of Chuck E Cheese and Peter Piper Pizza, filed for bankruptcy protection after the coronavirus pandemic shuttered its locations and kept families at home. The filing in the Southern District of Texas US Bankruptcy Court makes CEC the latest in a string of companies upended by Covid-19. Lockdowns have drained revenue, keeping consumers at ...

Bloomberg US equity futures slipped, while European stocks advanced as investors studied whether a resurgence in coronavirus infections will sap appetite for riskier assets. EasyJet Plc slumped after selling more shares. Deutsche Lufthansa AG rallied as its biggest stockholder backed a government rescue package. West Texas crude oil fell below $38 a barrel. Gold continued its push towards $1,800 an ...

Bloomberg Indian stocks declined in volatile trading as investors weighed the worsening economic outlook with the novel coronavirus continuing to spread. The S&P BSE Sensex fell 0.5% to 34,695.76 in Mumbai, while the NSE Nifty 50 Index dropped 0.4% after both gauges earlier erased losses to gain as much as 0.5%. The measures are both set for their best quarter ...

Abu Dhabi / WAM Following a ceremony via video conference between Abu Dhabi and Beijing, health authorities from the UAE have announced the commencement of the world’s first phase III clinical trial of a Covid-19 inactivated vaccine. Inspired by the UAE Leadership’s vision and commitment to overcome the pandemic through a global collaborative effort, a clinical cooperation agreement was signed ...

Bloomberg Oil fell in New York after an industry report signalled another increase in US crude stockpiles, while the spread of the coronavirus continued to cloud prospects for an economic recovery. Futures dropped 1.6%, extending the decline after settling at the highest since early March on Monday. The American Petroleum Institute reported that inventories rose by 1.75 million barrels last ...

Bloomberg Airlines may be struggling to survive the industry’s worst-ever downturn, but investors in Iceland reckon the time is ripe to launch a brand new carrier. Play Air aims to commence flights this fall with a plan borrowed from Wow Air Hf, which collapsed in 2019. Like Wow, it will seek to exploit Iceland’s position in the North Atlantic to ...

Bloomberg Pakistan said the Airbus SE A320 crash in a Karachi neighbourhood last month happened because of errors made by the pilot and air traffic controllers (ATC). Both engines of the state-run Pakistan International Airlines Corp plane were damaged during the first failed attempt at landing at the airport, aviation minister Ghulam Sarwar Khan told lawmakers in parliament. The aircraft ...

Bloomberg EasyJet Plc faces a lawsuit over a data breach disclosed last month that potentially exposed private details of 9 million passengers. More than 10,000 people have joined the suit since it was filed last month, according to law firm PGMBM. Victims are entitled to as much as 2,000 pounds ($2,500) in compensation, meaning the case could be worth as ...