If you think your summer holidays were lackluster in an era of pandemic-induced staycations, spare a thought for the world’s airlines. The industry typically earns some 40% of its profits in the third calendar quarter alone, as the surge in travel gives carriers the chance to finally fill up planes at prices that can pay off their wage, fuel and ...

Covid-19 may do for Big Oil what the Chicxulub asteroid did for the dinosaurs when it struck Earth 66 million years ago. Much like the “terrible lizards,” Big Oil was already in decline before the novel coronavirus hit. The world in which they thrived is changing around them and they face multiple threats to their future health. But the outbreak’s ...

When the coherent half of the Republican ticket participated in the vice presidential debate, it was an opportunity for viewers to learn what the future holds. Yes, Vice President Mike Pence may be a talking-point machine, but to a debate audience that’s a more useful device than a random-lie generator. You can learn things from talking points. There’s only one ...

Bloomberg Malaysia Airlines Bhd is prepared to shut down if ongoing talks with leasing companies about a restructuring plan fail, The Edge Malaysia cited the national carrier’s chief executive officer as saying. A “sizable” number of creditors support the company’s plan, some are against it and others are still undecided, Izham Ismail told the business weekly in an interview. The ...

Bloomberg Air Canada slashed the purchase price for tour operator Transat AT Inc to almost a quarter of its earlier offer, citing the impact of the Covid-19 outbreak on the air transport industry. The Montreal-based airline said it’s cutting the offer for Transat to C$5 a share from C$18 when the deal was announced in August 2019, valuing the company ...

Bloomberg L’Oreal SA plans to close retail locations to restructure its US luxury operations as the company grapples with severe changes to consumer behaviour amid the pandemic. The Luxe Division of L’Oreal USA plans to shift investment to growth areas such as e-commerce as part of the reorganisation over the next six months, the company said in a statement in ...

Bloomberg Reliance Retail, owned by Indian tycoon Mukesh Ambani, has withdrawn from the race to buy Debenhams Plc, The Sunday Times reported, quoting a source close to the process. Reliance had denied previous reports that it was in talks about buying all or part of Debenhams. Multiple parties remained interested in the company, according to The Sunday Times. The UK ...

Bloomberg Airbus SE delivered more aircraft in September than any month this year, a victory in the European planemaker’s battle to keep factories running and revenue flowing amid a prolonged downturn in air travel. The tally of 57 jets, mostly single-aisle with a handful of long-range aircraft, compared with 39 handovers recorded in August, according to a statement. Still, Airbus ...

Bloomberg Qantas Airways launched a sight-seeing flight across Australia in the airline’s latest effort to contend with the impact of the pandemic on the tourism sector. The “full-day outing” from Sydney took off morning with 150 passengers and was scheduled to pass over some of the country’s key landmarks, including Uluru, the famed red sandstone monolith in the Northern Territory, ...

Bloomberg The more China tells the world that Taiwan isn’t a country, the more Beijing’s adversaries are starting to treat it like one. On Taiwan’s National Day, Beijing’s embassy in New Delhi was reported to have issued a letter telling India’s media not to refer to it as a country or to Tsai Ing-wen as its president. Indians responded by ...