Bloomberg Airbus SE earnings surged in the second quarter, helped by a ramp up in deliveries of a narrow-body model that rivals Boeing Co’s grounded 737 Max. Adjusted profit before interest and tax increased 72 percent to $2.2 billion, beating estimates, as Airbus handed over close to 300 of the A320 planes. Four-fifths of the jets were the revamped Neo ...

Bloomberg British Airways (BA) lost a UK court bid to halt a pilot strike, in a ruling that may clear the path for walkouts at the height of the busy summer travel season. Wednesday’s decision raises the risk of the airline’s first pilot strike in about four decades, in a dispute about pay, profit sharing and a stock-awards programme. Brian ...

Bloomberg Ryanair Holdings Plc Chief Executive Officer Michael O’Leary told workers the budget airline needs 1,500 fewer pilots and cabin crew than originally envisaged amid a slump in earnings and delays to expansion plans forced by the grounding of Boeing Co’s 737 Max jetliner. In a video message to staff seen by Bloomberg, O’Leary said the carrier has an excess ...

Bloomberg Singapore Airlines Ltd posted a 20 percent decline in first-quarter earnings, weighed down by rising fuel costs and expenses from the grounding of six Boeing 737 Max aircraft. Net income in the three months to June fell to S$111.1 million ($81.2 million), from S$139.6 million a year ago, Singapore Air said in a statement. Sales climbed 6.7 percen to ...

Bloomberg L’Oreal SA shares tumbled as a drop in North American sales raised concerns that a makeup boom fuelled by beauty bloggers and selfies has lost steam. The stock fell as much as 4.9 percent in Paris trading, the most in three years. The sales decline in a crucial region came even as demand from China lifted the world’s biggest ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) announced on Tuesday that it has entered into a further follow-on pipeline infrastructure investment agreement with GIC, Singapore’s sovereign wealth fund. GIC will invest $600 million in select Adnoc crude pipeline infrastructure, following BlackRock, KKR and the Abu Dhabi Retirement Pensions and Benefits Fund (ADRPBF) who earlier this year ...

DUBAI / WAM The Dubai Financial Services Authority (DFSA) imposed financial penalties of $299,300,000 and $15,275,925 (AED56,062,645) on Abraaj Investment Management Limited (AIML) and Abraaj Capital Limited (ACLD) respectively. In a press statement, DFSA said that the investigation, which began in January 2018, was complex and spanned multiple jurisdictions. Bryan Stirewalt, Chief Executive of the DFSA, said, “The size of ...

Bloomberg The pound slumped for a fourth day as investor concerns over a no-deal Brexit intensified. Sterling continued its slide versus both the dollar and the euro, with investors pricing a higher chance of the UK crashing out of the European Union on October 31. As differences between the two sides increase, Prime Minister Boris Johnson’s office said the UK ...

SHARJAH / WAM Air Arabia, the Sharjah-based low-cost carrier (LCC) has received its second Airbus A321neo Long Range. The aircraft flew nonstop from Hamburg, Germany to Sharjah International Airport. The addition of the second A321neo LR will enable Air Arabia to expand to new medium-haul markets in addition to strengthening its existing routes, the company said. The A321 neo LR ...

Bloomberg US President Donald Trump’s assault on the World Trade Organization — and the global system of rules that guide inte- rnational businesses — may be quietly scoring a major victory. Thanks to a US veto on new appeals judges, the WTO’s dispute arm is expected to start slipping into the institutional equivalent of a coma at the end of ...