Aviation

  Bloomberg Airbus SE and the government of Quebec agreed on a $1.2 billion investment that allows the Canadian province to remain an owner of the A220 jet program for four additional years. The French plane maker committed to investing $900 million in the loss-making program while Quebec will put up $300 million, according to a statement. Under the deal, ...

  Bloomberg Airbus SE dodged the threat of strikes in Germany, reaching a labor deal that will allow continued production of its best-selling A320 jetliner. The accord rules out compulsory job cuts at restructured parts plants until the end of 2030, according to the IG Metall union. Airbus agreed to invest in the sites until at least that date and ...

  Bloomberg Frontier Group Holdings Inc agreed to buy Spirit Airlines Inc. for $2.9 billion in cash and stock, uniting two ultra-low-cost carriers targeting the recovering US leisure-travel market. Spirit shares rose the most in 14 months. Spirit investors will receive 1.9126 Frontier shares and $2.13 in cash for each Spirit share, according to a statement Monday. The deal implies ...

  Bloomberg A Danish pension fund said it will exit its $3 million stake in Wizz Air Holdings Plc after talks failed to resolve concerns surrounding the discount carrier’s labor practices. AkademikerPension, which manages around $23 billion, said Monday that it will sell the stock after Wizz rebuffed a plea for it to recognize staff rights concerning freedom of association ...

  Bloomberg It’s an age-old question: “Business or pleasure?” For airline passengers these days, the answer increasingly is both. The growth in so-called “bleisure” trips blending personal getaways with remote work has helped fill seats on planes during the coronavirus pandemic and marks a shift in travel patterns for an industry used to clear divisions between briefcase-toting road warriors and ...

  Bloomberg For Boeing Co., the pandemic was just one item on the long list of its existential concerns over the past four years. But after a talent exodus, the twin tragedies of its 737 Max jets falling from the sky, and stiff competition from rivals (on top of Covid’s blow to air travel), the company is gearing up for ...

  Bloomberg Kenya plans to inject 20 billion shillings ($176 million) of capital into the country’s cash-strapped national airline, which is battling to survive after years of losses and a mounting debt pile. The funding, detailed in supplementary budget documents submitted to parliament, “is dependent on certain restructuring milestones,” Kenya Airways Plc Chairman Michael Joseph said by text message. The ...

  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 ...