Aviation

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 ...

BLOOMBERG IndiGo, India’s biggest airline, posted record quarterly profit in the three months through June, as the demand for travel surged and a smaller competitor’s insolvency funneled a windfall of business. The carrier reported net income of 30.87 billion rupees ($374 million) in the quarter, almost double analysts’ forecast of 17.6 billion rupees, it said in a stock exchange filing. ...

BLOOMBERG An airline established by Ethiopian Airlines Group in partnership with institutional investors and the Nigerian government plans to start operations in the West African nation as early as October. The airline, named Nigeria Air, will start with a combination of two wide-bodied planes and six narrow-bodied aircraft, Mesfin Tasew, chief executive officer of Ethiopian Airlines said in an interview ...

BLOOMBERG Deutsche Lufthansa AG and Wizz Air Holdings Plc slid after reporting robust quarterly results, as investors focused in on capacity constraints and cost pressures that will prevent the carriers from taking full advantage of demand for air travel. Lufthansa, Europe’s biggest airline group, said that cost inflation is being driven by a rise in air traffic control and airport ...

BLOOMBERG Just Eat Takeaway.com NV is finding it difficult to complete the sale of its US business, Grubhub Holdings Inc, because of a combination of high price demands from some investors and a weak market for deals, Chief Executive Officer Jitse Groen said. “We’re talking to buyers still, but it’s a very difficult M&A situation currently,” Groen said in an ...

BLOOMBERG London’s Gatwick Airport escaped a strike that was due to take place over the weekend after more workers agreed to an improved pay offer. Ground handlers working for four companies at Gatwick were set to walk off on two successive weekends starting July 28 and August 4 after failed negotiations over pay and working conditions. The Unite union said ...

BLOOMBERG The UK’s Civil Aviation Authority (CAA) has taken enforcement action against Wizz Air Holdings Plc after many passengers complained about the carrier failing to reimburse them for delayed or cancelled flights. The Hungarian-based airline has committed to making policy changes to ensure it is compliant with passenger rights obligations, the CAA said. Customers whose claims were incorrectly rejected by ...

BLOOMBERG Deutsche Lufthansa AG is fighting a landmark ruling that toppled the European Union’s approval for its €6 billion ($6.6 billion) German recapitalisation at the height of the Covid-19 pandemic. Europe’s biggest network carrier said it filed an appeal at the EU Court of Justice against the May 10 judgment by a lower tribunal, which backed claims by Ryanair Holdings ...