Aviation

BLOOMBERG British Airways (BA) was fined $1.1 million by the US Department of Transportation after it determined that the airline had failed to offer passengers timely refunds for canceled flights to and from the US during the Covid-19 pandemic. Customers were unable to submit refund requests on BA’s website from March to November 2020, and were unable to reach customer ...

BLOOMBERG Deutsche Lufthansa AG is about to embark on a tough journey to pull off a quick turnaround of Alitalia’s successor ITA Airways and overcome two decades of constant losses. Lufthansa agreed to buy a minority stake in ITA, and its executives think they can succeed where other managers failed: wringing a profit from the airline that long flew the ...

BLOOMBERG Go Airlines India Ltd plans to raise salaries of captains by 100,000 rupees ($1,211) a month and by 50,000 rupees for first officers as it tries to salvage its operations after filing for insolvency on May 2. The additional pay, which the airline calls a retention allowance, will come into effect on June 1, according to an email to ...

BLOOMBERG A made-in-China aircraft to rival Boeing Co and Airbus SE underwent its maiden commercial flight on May 28, almost six months after being delivered to China Eastern Airlines Corp. Flight MU9191 took off from Shanghai at 10:32 am local time, China Eastern said on its Weibo account. The plane carried 128 passengers and landed safely at Beijing, People’s Daily ...

BLOOMBERG Rolls-Royce Holdings Plc could cut thousands of jobs after the company hired consultants led by McKinsey & Co to advise on streamlining its operations, The Times reported. Part of the turnaround plan will see the combination of non-manufacturing departments in each of the company’s civil aerospace, defense and power systems divisions, the newspaper said, citing an unidentified consultancy source. ...

BLOOMBERG Amazon.com Inc shareholders voted down a slate of outside resolutions that would have asked the company to disclose more on workers’ rights and its climate change work, among other issues. Investors also approved Amazon’s executive pay practices, despite recommendations for a “no” vote from major shareholder advisory firms. The company reelected its slate of directors, one of whom was ...

BLOOMBERG Bain Capital is targeting November to relist Virgin Australia Airlines Pty Ltd through an initial public offering that could raise about A$1 billion ($665 million), the country’s largest in two years, according to people familiar with the matter. The private equity owner plans to sell down about 40% of its stake in the carrier, which it rescued in a ...

BLOOMBERG Ryanair Holdings Plc notched up another court victory in its fight against Covid-19 bailouts to rivals, this time winning its challenge to a €130 million ($140 million) subsidy for Italian carriers affected by the pandemic. The EU’s General Court annulled the European Commission’s 2020 decision to clear the Italian aid package under the bloc’s state-aid rules, saying regulators failed ...

BLOOMBERG An incident involving three Cathay Pacific Airways Ltd cabin crew making “inappropriate comments” about customers on a recent flight has set back the airline’s recovery and caused significant damage to its image, as well as Hong Kong’s, the carrier’s chief executive officer told employees. Ronald Lam, who became CEO at the start of the year, was referring to a ...

BLOOMBERG  EasyJet Plc is benefiting from higher ticket prices heading into the peak summer season as the low-cost carrier sets plans to capture a bigger share of the post-pandemic rebound in air travel. Revenue per seat, which includes extras such as baggage fees, is running 20% above year-earlier levels, the UK airline said as it reported better-than-expected first-half results. Leisure ...