Aviation

Bloomberg US airlines rallied as improved summer leisure bookings and rising fares offered strong signs of a recovery a year after Americans began staying close to home. Sales over the past three weeks have been the best since the coronavirus pandemic began, American Airlines Group Inc. said, while United Airlines Holdings Inc. said high demand for spring and summer travel ...

Bloomberg Sun Country Airlines Holdings Inc. priced its initial public offering (IPO) above range at $24 a share to raise about $218 million as it looks for a rebound in leisure travel. Minneapolis-based Sun Country sold about 9.1 million shares, according to a statement confirming an earlier Bloomberg News report. The company had marketed the shares for $21 and $23, ...

Bloomberg Thailand’s finance ministry, the largest shareholder of Thai Airways International Pcl, signalled its support for a restructuring plan that includes raising fresh capital, a temporary freeze on repayment of borrowings and slashing its workforce by half to return the debt-ridden airline to profit. The key elements of the debt rehabilitation plan are “quite acceptable,” Pantip Sripimol, director general of ...

Bloomberg Boeing Co. selected a new honcho for its 737 Max jetliner program — the fifth executive to hold the post since 2018. Ed Clark Jr., a vice president who previously served as chief mechanic and chief engineer for the single-aisle aircraft family, was named general manager of the operation, according to a memo sent to employees. His duties include ...

Bloomberg Boeing Co. is scrutinising the flight-deck windows of some of its 787 Dreamliners as the beleaguered planemaker expands its search for potential manufacturing flaws that have delayed deliveries of its marquee jetliner, according to people briefed on the matter. Chicago-based Boeing has been testing the cockpit windows in a limited batch of aircraft after learning a supplier modified its ...

Bloomberg Dirt-cheap fares are popping up from airlines brave enough to expand or start out amid the Covid crisis, as they try to eke out sales and get a jump on competitors that have pared back operations. Airlines worldwide cut $1 billion of expenses a day last year to cope with the slump in passengers, and that’s given them some ...

Bloomberg Virgin Atlantic Airways Ltd. is set to raise 160 million pounds ($223 million), as part of a financing package to sustain the carrier ahead of the expected reopening of international travel in the coming months. Richard Branson’s Virgin Group is set to provide the bulk of the funds, putting up about 100 million pounds. Another 60 million pounds will ...

Bloomberg British Airways called on Prime Minister Boris Johnson’s government to set a firm plan for resuming international flights, including timelines and conditions the airline can use to plan ahead for summer season. IAG SA’s flagship airline is seeing a “great demand to travel and a real desire to allow British people to travel,” said Sean Doyle, BA’s chief executive ...

Bloomberg Australia’s government will subsidise 800,000 half-price air fares as part of a A$1.2 billion ($920 million) package to prop up the nation’s ailing tourism industry. To run from April 1 to July 31, the discounted fares are designed to help tourism-dependent regions and should support airlines, hotels and hospitality venues, Prime Minister Scott Morrison said in a statement. The ...

Bloomberg Cathay Pacific Airways Ltd. reported a net loss of HK$21.65 billion ($2.8 billion) for 2020, a period the carrier described as “the most challenging 12 months of its more than 70-year history” as the coronavirus pandemic brought unprecedented disruption to global air travel. The outlook isn’t much better, according to Chairman Patrick Healy, who said “it is by no ...