Aviation

  Bloomberg Rahul Bhatia, the billionaire co-founder of IndiGo, is taking on a newly-created executive position of managing director at the company, after the biggest budget carrier in Asia by market value posted a surprise quarterly profit. The appointment of Bhatia, which is effective immediately, signals a truce with fellow co-founder Rakesh Gangwal, who had accused Bhatia of corporate governance ...

  Bloomberg Kenya Airways Plc has selected financial advisers at Seabury Consulting to help the airline evaluate options to restructure its debt load, according to people with knowledge of the matter. The airline, in which the Kenyan government has a 48.9% stake, faces mounting debts and depressed passenger demand amid pandemic-related travel restrictions. A representative for Kenya Airways said the ...

  Bloomberg Sydney Airport shareholders overwhelmingly approved a A$23.6 billion ($17 billion) deal to sell the company to a consortium of funds, transferring Australia’s main international gateway to private ownership after the pandemic hammered earnings. Some 96% of votes cast at a shareholder meeting on Thursday backed the sale to a group led by IFM Investors Pty for A$8.75 a ...

  Bloomberg United Airlines Holdings Inc. is exploring a potential sale of a minority stake in its frequent-flier program MileagePlus, according to people familiar with the matter. United is working with financial advisers who have begun contacting potential investors including private equity firms, the people said, asking not to be identified because the matter is private. Any minority stake in ...

  Bloomberg Get ready for the tanker wars, part two. Airbus SE is teaming up with Lockheed Martin Corp. to take on Boeing Co.’s troubled aerial tanker with an American-made version of the European company’s A330 jetliner. The wide-body plane was at the heart of a proposal that first beat, then on appeal lost out to, Boeing’s KC-46 tanker in ...

  Bloomberg Aerojet Rocketdyne Holdings Inc. said it’s investigating Executive Chairman Warren Lichtenstein and accused him of launching a proxy fight in an effort to maintain his board position. An internal probe involving Lichtenstein is being conducted under the oversight of a committee of independent directors, the company said in a statement. The investigation is not related to Aerojet’s operations ...

  Bloomberg Latam Airlines Group SA can send its $5.4 billion bankruptcy-exit plan to creditors for a vote, a judge, handing the airline a partial victory over debtholders who want to pursue alternatives, including a takeover by rival Azul SA. The decision means the company can seek final court approval for its reorganization plan in April and possibly exit bankruptcy ...

Bloomberg Ethiopian Airlines Group carried out its first official flight with Boeing Co.’s 737 Max since a deadly crash in March 2019 that triggered a global grounding of the jet. The three-year-old plane took off from the Ethiopian capital of Addis Ababa at 9:18 a.m. GMT on Tuesday and was in the air for about four hours before returning, tracking ...

  Bloomberg Airlines that aren’t currently hedging their fuel bills are set to lose a “shedload” of money as a result of high oil prices, the head of Ryanair Holdings Plc. Brent crude is trading near $91 a barrel as surging global consumption pushes prices to a seven-year high. That’s problematic for fuel-consuming industries like airlines, where oil can make ...

Bloomberg Boeing Co dropped as the planemaker recorded $5.5 billion in total costs for the 787 Dreamliner, wiping away any near-term profit for the marquee wide-body jet. The charges also overshadowed some rare good news. The aviation titan surprised Wall Street by generating cash for the first time since early 2019: $494 million in free cash flow in the fourth ...