Aviation

Bloomberg JPMorgan Chase & Co won a deal to issue cards in the US for Air Canada, the bank’s first new co-brand card partner in more than a decade. The companies plan to introduce the airline’s Aeroplan credit card in late 2021, using the Mastercard Inc network. The expectation is that air travel will have begun to recover by then ...

Bloomberg London’s Heathrow airport is waiting for a ruling from the UK Supreme Court on Wednesday that could give it permission to build a third runway that it may no longer need. An appeals court ruled in February that the government failed to take full account of the Paris Climate Agreement when approving the airport’s expansion. Heathrow was allowed to ...

Bloomberg The Nordic region’s pace-setting push into green transport is set to extend from cars to the air-travel market. Iceland this month signalled plans to move towards carbon-free domestic flights by the end of the decade, while Sweden’s Heart Aerospace aims to deliver an electric plane specifically designed to ply routes linking remote Scandinavian settlements within six years. Coordinating the ...

Bloomberg British Airways will work with hydrogen plane startup ZeroAvia to speed the switch to hydrogen power for commercial aircraft. The partnership was announced, as the head of parent IAG SA prepared to outline the group’s plan to reach net-zero emissions at a United Nations climate summit. The legacy airline will work with the startup, which has already demonstrated a ...

Bloomberg The board of Rolls-Royce Holdings Plc has begun the process of identifying a successor to Chairman Ian Davis, Sky News reported. The search is at a very early stage and an appointment is unlikely to be announced until well into next year, it said, without revealing where it got the information. Davis joined the British jet-engine maker in 2013. ...

Bloomberg British Airways parent IAG SA will outline its plan to lower emissions, including the use of carbon offsets, when the airline group’s new chief speaks at a United Nations summit this weekend. Chief Executive Officer Luis Gallego, who was expected set to address the United Nations Climate Ambition Summit on Saturday, will provide a road map towards fulfilling IAG’s ...

Bloomberg United Airlines Holdings Inc predicted that sales will rebound next summer as vaccines take hold, even as the company echoed rivals in warning that surging coronavirus cases have caused near-term demand to weaken over the past month. Bookings for the third quarter of 2021, the heart of the airline industry’s peak season, will only be 40% below pre-pandemic levels, ...

Bloomberg Southwest Airlines Co expects depressed travel amid the nationwide surge in coronavirus cases and typically weak seasonal demand to combine for a difficult start to 2021 for the industry. “January and February are bound to be really rough months — winter time, high case loads — and they are seasonally soft anyway,” Chief Executive Officer Gary Kelly said in ...

Bloomberg Mexico’s biggest airline plans to use proceeds from a $173 million stock sale to pounce on struggling rivals as it rebounds from an unprecedented travel collapse. Volaris is restoring seating capacity this month to 100% of last year’s levels and targeting a return to profitability by the second quarter of 2021, said Chief Executive Officer Enrique Beltranena. The carrier ...

Bloomberg General Electric Co poured $4 billion into repairing its balance sheet, furthering steps to whittle down a pension liability that has been a thorn in Chief Executive Officer Larry Culp’s turnaround efforts. The manufacturer prefunded about $2.5 billion in pension requirements for the next three years and repaid $1.5 billion of an intracompany loan to GE Capital, according to ...