Aviation

Bloomberg Norwegian Air Shuttle ASA replaced its chief executive officer after exiting insolvency proceedings, as the low-cost airline rebuilds its operations as a regional carrier. The board voted to end the contract of CEO Jacob Schram, according to a statement. He was replaced by Chief Financial Officer Geir Karlsen, who spent about six months as interim CEO in 2019. Karlsen ...

Bloomberg Thousands of federal engineers, inspectors and other aviation workers have a new channel through which to report safety concerns without fear of retaliation in an action spurred by the two fatal crashes on the Boeing Co 737 Max. The US Federal Aviation Administration (FAA) unveiled what it calls the Voluntary Safety Reporting Program. The 7,400 people working at FAA’s ...

Bloomberg The series of flight cancellations from American Airlines over the weekend will continue to plague travellers. Almost 100 flights from the airline have already been cancelled for June 21, according to a representative from American Airlines Group Inc. That’s following 123 flights cancelled on June 19 and at least 178. “The first few weeks of June have brought unprecedented ...

Bloomberg The recovery in Europe’s air traffic hit a new milestone as people take to the skies again for summer vacations. Aside from a brief pickup around Christmas, the continent’s air traffic is at its highest compared with pre-Covid levels since March last year, when continent’s lockdowns really began to affect demand. It rose just above 50% of 2019 levels ...

Bloomberg The UK government signalled it will keep restrictions on overseas travel in place for now to control a surge in coronavirus infections and the risk of new variants of the virus taking hold. Justice Secretary Robert Buckland said “normal” holidays were “never going to be the case” this year because of increasing Covid-19 cases. His comments indicate increasing concern ...

Bloomberg The US government’s edict to both regulate and promote the rapidly growing commercial space industry is a conflict of interest and must end, a senior lawmaker said. Representative Peter DeFazio, the Oregon Democrat who is chairman of the Transportation and Infrastructure Committee, said he would introduce legislation to alter the Federal Aviation Administration’s mandate. The committee heard comments on ...

Bloomberg Air New Zealand expects to suffer at least three straight years of losses as the pandemic continues to keep international borders closed and severely restrict long-haul travel. The airline will post a loss before significant items and tax of as much as NZ$450 million ($315 million) for the year ended on June 30 and foresees a “comparable” result in ...

Bloomberg Ares Management was sued by a specialist credit fund co-founded by a former Goldman Sachs Group Inc partner over the sale of collateral on a loan to a struggling Norwegian airline. Hudson Structured Capital Management Ltd claims that several Ares funds that held the notes directed that aircraft used as collateral be sold to an Ares affiliate, despite a ...

Bloomberg The coronavirus pandemic has created an overhang of pent-up travel demand and left unspent money burning holes in the pockets of the well-to-do. Put the two together and the result is a hunger for private jets. Buyers have scooped up so many of the good used planes out there that they’re now getting on waiting lists to purchase new ...

Bloomberg Boeing Co’s biggest 737 Max model lifted off into brilliant blue skies for the first time, marking another milestone in the jet family’s comeback from tragedy and a lengthy grounding. The stretched narrowbody jet rumbled down a runway adjacent to the Renton, Washington, factory where it was built and took flight at 10:07 am local time. After performing aerial ...