Aviation

BLOOMBERG Boeing Co’s top executive is growing confident the company can soon restore its commercial standing in China, while cautioning about a rocky path ahead as the two superpowers joust over trade and politics. The US manufacturer is working to restart deliveries of the 737 Max, its top source of revenue, in China after a four-year halt. Over that hiatus, ...

BLOOMBERG JetBlue Airways Corp agreed to sell Spirit Airlines Inc’s operations at New York’s LaGuardia Airport to rival carrier Frontier Group Holdings Inc. The deal is contingent upon JetBlue closing a planned $3.8 billion acquisition of Spirit, according to a statement. JetBlue had earlier pledged to divest some assets to help secure federal approval of the acquisition, which has been ...

BLOOMBERG Macy’s Inc said earnings will be weaker than previously expected for the full-year, underscoring the uncertainty around US consumer spending through the remainder of 2023. The department-store retailer said it would take markdowns and other measures to address excess spring merchandise in order to meet current consumer demand. It lowered sales guidance to “reflect anticipated macroeconomic impacts to the ...

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 ...