Aviation

Bloomberg British Airways parent IAG SA said cash flows turned positive in the third quarter and that North Atlantic demand has begun to surge as the US prepares to reopen its border to vaccinated Europeans next week. Long-haul bookings are now recovering faster than short-haul sales, with the premium leisure segment performing particularly strongly at BA and Spanish arm Iberia, ...

Bloomberg Wizz Air Holdings Plc said it will cut fares at the expense of profitability in a bid to pack planes and grab market share as European travel demand rebounds. The low-cost carrier posted a second-quarter profit but forecast a 200 million-euro ($232 million) operating loss for the current three months that “may carry over” into early 2022. Wizz, already ...

Bloomberg Boeing Co directors agreed to a $237.5 million settlement of claims they turned a blind eye to safety issues related to 737 Max jetliners whose crashes have cost the company more than $20 billion, according to court documents. The settlement, which is being paid by insurers covering Boeing’s directors and executives, will be handed over to the company rather ...

Bloomberg The razor-thin staffing that contributed to thousands of canceled US passenger flights in October doesn’t bode well for smooth holiday travel. American Airlines Group Inc scrapped about 1,900 flights since Saturday, including 302 by November 1, as cancellations continued to ripple from the disruption of flights by high winds at its main hub near Dallas. Just three weeks ago, ...

Bloomberg China’s three main airlines slid in trade in Shanghai and Hong Kong in the wake of disappointing earnings announcements. China Southern Airlines Co, Air China Ltd and China Eastern Airlines Corp were rooted to the bottom of a Bloomberg gauge of Asia-Pacific airline stocks, their A shares in Shanghai falling more than 3%. China Southern fell as much as ...

Bloomberg While Japan’s not yet ready to welcome foreign tourists back, prospects are finally looking up for stocks related to the country’s beleaguered travel industry. Airline shares jumped after the Nikkei reported Japan is considering allowing business travellers, exchange students and trainees enter the country from as early as this month — the first relaxation of tight border controls since ...

Bloomberg AirAsia X Bhd’s shares dived by the most in more than a year after the long haul budget airline was officially categorised as a financially distressed firm, which gives the company a year to recast its finances or risk losing its Malaysian listing. The stock tumbled as much as 21.1% to 7.5 sen on Monday, set for the steepest ...

Bloomberg VietJet Aviation JSC indicated that it plans to establish a fleet of Airbus SE A330 jets for flights beyond Asia after signing a service deal for the Rolls-Royce Holdings Plc engines that power the twin-aisle model. The Vietnamese airline will outfit upcoming wide-bodies with Rolls-Royce Trent 700 turbines, it said in a statement. A Rolls spokeswoman said the $400 ...

Bloomberg The Biden administration’s new vaccine-based travel rules are forecast to boost jet fuel consumption as they bring the US more in line with the European Union, helping revive flights across the Atlantic. The increased transatlantic travel will probably add at least 250,000 barrels a day of crude demand, according to a senior trader at a top oil-trading firm. Bloomberg ...

Bloomberg Ryanair Holdings Plc is considering delisting from the London Stock Exchange (LSE) in the latest setback to the UK’s stock market arising from Brexit. The Irish discount carrier cited compliance headaches tied to Britain’s exit from the European Union as it weighs joining a growing list of firms that are disappearing from the bourse. Dublin-based Ryanair is required to ...