Aviation

Bloomberg Airlines are seeing prospects for a strong profit rebound from two years of coronavirus turmoil rapidly slip away after the price of oil reached $125 a barrel. An oil shock triggered by Russia’s war in Ukraine is the latest blow to carriers that have already had to cancel flights and reroute long-haul journeys to avoid shuttered airspace. The price ...

  Bloomberg Kenya Airways Plc said Russia’s invasion of Ukraine will result in airlines increasing ticket prices after crude oil surged, while uncertainty may reduce demand for travel. “We have started seeing many of the airlines taking action on this to ensure that they are able to keep on flying,” Commercial Director Julius Thairu said in an interview. The war ...

  Bloomberg International sanctions triggered by the invasion of Ukraine are poised to derail a Russian effort to challenge Airbus SE and Boeing Co in single-aisle jets. Irkut Corp’s MC-21 jetliner, set to enter service this year, had already been hit by delays and cost overruns due to pre-existing sanctions. The plane, which features composite wings and is designed to ...

  Bloomberg Ethiopian Airlines signed a memorandum of understanding to purchase five of Boeing Co’s newest air-cargo haulers, the 777-8 freighter, the airline said in an emailed statement. Africa’s largest aviation group is the second customer to announce a commitment for the freighter version of the 777X. Chicago-based Boeing seeks to bring the 777-8 freighter to market by 2027, about ...

  Bloomberg Russia will halt some international flights to keep billions of dollars’ worth of aircraft from being taken back by their foreign owners, deepening a rupture in the global aviation industry triggered by the invasion of Ukraine. The government’s move will give Aeroflot and other Russian carriers cover to hold on to hundreds of Airbus SE and Boeing Co ...

  Bloomberg US airlines counting on rejuvenated demand for spring and summer travel as the coronavirus wanes now face a new setback as Russia’s attack on Ukraine pushes jet fuel prices to multiyear highs. Carriers could reveal reductions in planned flying as they update financial guidance at industry conferences in the coming weeks, Conor Cunningham, an MKM Partners analyst, said ...

  Bloomberg Foreign aircraft lessors are facing the increasing possibility of writeoffs that could total in the billions of dollars as Russia considers ways to defy worldwide sanctions and keep carriers such as Aeroflot flying. Russia’s Transportation Ministry is weighing options including buying or even nationalizing hundreds of Airbus SE and Boeing Co planes that lessors have demanded be returned ...

  Bloomberg Dassault Aviation SA threatened to pull out of developing a future European fighter jet with Airbus SE over a protracted dispute between the two defense suppliers over leadership of the project. Talks between the French company and the German and Spanish arms of Airbus have reached an impasse and an agreement on moving to the next phase “still ...

Bloomberg Deutsche Lufthansa AG said the war in Ukraine will cloud prospects for a long-awaited recovery from the coronavirus pandemic as fuel prices climb and flights are diverted to avoid shuttered skies. Europe’s biggest airline cut its annual loss by two-thirds in 2021 as Covid curbs eased, according to a statement. Earnings this year should show a further improvement, but ...

  Bloomberg Boeing Co is caught in a bind after the US barred Russian airlines from its skies following the invasion of Ukraine. The move could affect Boeing’s main wide-body plant in Everett, Washington, near Seattle, where giant Antonov An-124 cargo planes operated by Russia’s Volga-Dnepr Group are used to fly structures from other plants. The US Transportation Department had ...