Aviation

BLOOMBERG Air India Ltd unveiled a new corporate identity, including a modernised logo and a sleeker livery for its planes, as the former state-owned carrier spruces up its image under new owner Tata Group. The carrier will ditch its red arched window accents for a sleeker livery that will see its tail fin painted in hues of gold, red and ...

BLOOMBERG Turkish Airlines reported an 18% increase in net income in dollar terms during the first half of 2023 from a year ago, with passenger revenues offsetting a decline in the cargo unit. The national carrier’s total revenue rose 25% during the same period to $9.5 billion while profits stood at $868 million, driven by a 50% surge in passenger ...

BLOOMBERG TUI AG said it expects its summer 2023 travel season to be close to pre-pandemic levels even as the pace of growth tapers off amid higher inflation and rising interest rates. The world’s biggest tour operator said underlying earnings before interest and tax rose to €169 million ($185 million) in the quarter ended on June 30, its first profitable ...

BLOOMBERG Ryanair Holdings Plc senior executive Eddie Wilson said a new decree passed by the Italian government to reduce the impact of rising airfares this summer is illegal. “It’s ridiculous, illegal and goes against free market laws,” Wilson, who is chief executive officer of Ryanair’s main unit, said in an interview with Ansa newswire. If the new package isn’t scrapped, ...

BLOOMBERG Cathay Pacific Airways Ltd expects its strong recovery from the Covid crisis to continue through the rest of the year after the carrier announced its biggest half-yearly profit since 2010. “We’re extremely pleased with the performance to date,” Chairman Patrick Healy said at a post-earnings media briefing. “We expect to see a solid performance through the rest of the ...

BLOOMBERG Amazon.com Inc Chief Executive Officer Andy Jassy pulled off a financial double play this earnings season: generating strong revenue growth from the core e-commerce business while cutting the pace of spending. The results sent shares up 8.3% to $139.57 at the close, the best single-day performance since November and the highest price for the stock in almost a year. ...

BLOOMBERG Party City Holdco Inc is considering splitting up its balloon manufacturing and retailing businesses as the latter charts a course out of bankruptcy, according to people familiar with the situation. Party City has held confidential talks with debt holders about spinning off its Anagram unit, said the people, who asked not to be identified because the matter is private. ...

BLOOMBERG The chairman of Hong Kong Airlines Ltd resigned, one of several senior management changes at the recently overhauled carrier. Hou Wei was replaced by Zhang Youqiang, chairman of Hong Kong Air Cargo, according to a company memo seen by Bloomberg News. Hou left after a four-year stint that covered the Covid pandemic and a HK$49 billion ($6.3 billion) restructuring ...

BLOOMBERG Around 24,000 British Airways employees will get a pay rise of 13.1% over an 18-month period as demand for air travel soars, easing the threat of further disruptions as workers push for higher wages across the industry. Along with the salary increase, BA’s workers will also receive a one-time payment of £1,000 ($1,270), the Unite union said in a ...

BLOOMBERG Europe’s long-awaited recovery in corporate travel keeps getting pushed back. Since the end of the coronavirus pandemic, the region’s biggest airline groups have been counting on corporate warriors to head back to the skies. But so far, many business clients have sat out the travel rebound. Just two years ago, Deutsche Lufthansa AG Chief Executive Officer Carsten Spohr boldly ...