Aviation

Bloomberg Latam Airlines Group SA has reached a deal with key stakeholders that paves the way for the Chilean carrier to slash debt and exit bankruptcy under new ownership. Latin America’s largest airline plans to raise around $5 billion by issuing shares and convertible notes to current stockholders and creditors as it exits Chapter 11 bankruptcy, according to court papers. ...

Bloomberg Ryanair Holdings Plc Chief Executive Officer Michael O’Leary said steps aimed at containing spiraling coronavirus infection rates in Europe are putting the region’s travel rebound at risk. Measures including a return to lockdown conditions in Austria mean airlines face a “fraught” period through Christmas as they wait to see whether a resurgence in demand will be strangled off, O’Leary ...

Bloomberg SpiceJet Ltd is reducing liabilities and considering raising capital after the damage caused by Covid-19, and has agreed compensation from Boeing Co for the grounding of 737 Max jets, Chairman Ajay Singh said. The budget carrier, which suffered as Covid halted air travel in India, aims to cut liabilities by as much as $300 million over six months and ...

Bloomberg Air Canada has agreed with US aviation regulators to pay $4.5 million to settle charges that it didn’t properly give refunds to US travellers when it cancelled or altered flights during the Covid-19 pandemic. The settlement between the airline and US Department of Transportation — which must be approved by an administration law judge — would be the largest ...

Bloomberg Frustration is mounting for customers waiting to take new Boeing Co 787 Dreamliners — planes caught in a regulatory and production quagmire that has halted all but a few deliveries since October 2020. The popular wide-body jets will be needed to carry travellers across oceans as borders sealed shut by the Covid-19 pandemic start to reopen. But airlines and ...

Bloomberg Virgin Atlantic Airways Ltd is in discussions with its shareholders about a 400 million-pound ($540 million) capital injection, according to a person familiar with the matter. Added funding would bolster Virgin Atlantic’s balance sheet as it looks to cash-in on pent-up demand for air travel as restrictions lift, said the person, who requested not being identified because the information ...

Bloomberg Airbus SE secured the second order for its coming A350 freighter, reaching an outline agreement with French shipping firm CMA CGM Group covering four of the wide-body twinjets. The memorandum of understanding is expected to be finalised over coming weeks, according to a statement. It follows a separate deal for seven A350Fs reached with leasing giant Air Lease Corp ...

Bloomberg Large US airlines are carrying about $20 more debt per passenger than before the pandemic, according to the chief executive officer of Frontier Group Holdings Inc., who predicts the carriers will start addressing those obligations with higher fares. “How long can that last?” asked Barry Biffle, CEO of ultra-low-cost Frontier Airlines. “They either have to raise their leisure fares ...

Bloomberg Wesco Aircraft Holdings Inc left bondholders scratching their heads when the struggling aerospace supplier added about $100 million of cash to its balance sheet, seemingly overnight and without much explanation. They’re trying to parse what happened after the company, which is backed by billionaire Tom Gores’ Platinum Equity, privately informed investors about a set of transactions that depleted and ...

Bloomberg Boeing Co has agreed to settle outstanding claims with SpiceJet Ltd relating to the grounding of its 737 Max aircraft and their return to service. “This paves the way for the induction of efficient and younger Max aircraft into the company’s fleet and ensures the resumption of new aircraft deliveries from our order of 155 Max aircraft,” India’s second-biggest ...