Aviation

BLOOMBERG US aviation regulators announced two new steps to tighten the process of approving airliner designs, actions required by Congress after crashes on Boeing Co 737 Max aircraft killed 346 in 2018 and 2019. The Federal Aviation Administration’s (FAA) policy changes will take effect in 30 days after the public and industry have a chance to comment on them, the ...

BLOOMBERG Long haul budget carrier AirAsia X Bhd has applied to Bursa Malaysia to be removed from the exchange’s financially distressed category after reporting three straight quarters of profit and positive shareholders’ equity. The airline in a statement also asked the bourse to exempt it from the need to submit a regularisation plan, which was due by July 28, and ...

BLOOMBERG American Airlines Group Inc said changes it offered in a pending contract agreement with pilots would increase the value to more than $9 billion over four years, matching terms of a competitor’s more-lucrative offer. The proposal adds more than $1 billion to the tentative agreement between the carrier and the Allied Pilots Association, including a “significant” increase in compensation, ...

BLOOMBERG Onex Corp is seeking $750 million for a new fund dedicated to transportation investments, people familiar with the matter said, a test of its ability to raise money in a tough climate for private equity. The Toronto-based firm has hired eight people for the fund, led by Wes Dick, a former senior executive at aircraft leasing firm BBAM LLC. ...

BLOOMBERG Boeing Co delivered 60 jets in June, including 49 of its best-selling 737 models, beating analyst expectations even as it contended with a strike at a key supplier and manufacturing defects. The tally boosted the US planemaker’s total handovers for the second quarter to 136 jets, 12% more than a year earlier. Analysts had expected Boeing to deliver about ...

BLOOMBERG In the run-up to the (almost but not quite) four-day weekend over July 4, US air travel set a new record. The Transportation Security Administration said it screened nearly 2.9 million fliers on June 30, the highest daily count  in the agency’s history. Flying in the US has rebounded from its Covid-19 lows. And if global expectations hold true, ...

BLOOMBERG EasyJet Plc cancelled almost 2,000 flights this summer from its London Gatwick hub citing air traffic control disruptions, an indicator that airlines are preemptively scrapping flights to limit travel chaos. Europe’s second largest budget carrier scrapped 1,700 flights that were due to operate in July, August and September, which will affect around 180,000 passengers. That amounts to less than ...

BLOOMBERG Portugal hired Ernst & Young (EY) and Banco Finantia SA to carry out valuations of TAP SA as part of a plan to sell a stake in the state-owned airline. No details about timing were included in the emailed press release from Portuguese state holding company Parpublica. Finance Minister Fernando Medina had said that the decree that starts TAP’s ...

BLOOMBERG Air France-KLM said it may be forced to adjust operations after the Dutch government won permission to curtail capacity at Amsterdam Schiphol, the main airport for the KLM subsidiary. The number of flights at Schiphol airport can be scaled back between the end of the year and October 2024, an appeals court ruled, revoking an earlier decision by a ...

BLOOMBERG London’s Gatwick Airport Ltd is seeking planning permission to bring its second runway into full-time use, potentially raising capacity by tens of millions of passengers annually as air travel rebounds post-pandemic. The UK’s second-largest airport wants to open the strip, currently used as a taxiway or as an emergency measure when the main runway is out of service, for ...