Aviation

BLOOMBERG FedEx Corp is seeking to cut $4 billion in costs by combining its two main delivery networks, in an ambitious plan by new Chief Executive Officer (CEO) Raj Subramaniam to increase profit margins. The company has for decades operated an express package business separately from its ground unit, which FedEx acquired in 1998 and depends on third-party contractors to ...

BLOOMBERG Virgin Orbit Holdings Inc filed for bankruptcy after the satellite launch firm tied to British billionaire Richard Branson failed to secure the funding needed to keep operating and cut about 85% of its staff. The company listed $243 million in assets and $153.5 million for its total debt in a Chapter 11 petition filed in Delaware. The move punctuates ...

BLOOMBERG Amsterdam’s Schiphol airport has a lot to boast about — the best direct flight connectivity across Europe, a terminal layout that’s easy to navigate, and an underground railway station that links it to major cities across Europe. Now a proposal for a capacity cap to minimise noise stands to dim the allure of one of Europe’s prime hubs. The ...

BLOOMBERG Singapore’s immigration systems were largely back to normal after a disruption that caused delays at Changi airport and at land-border crossings just before the start of the weekend. Although travellers were told to delay non-essential travel, there haven’t been any flight cancellations, according to data from Flightradar24.com. The glitch came two days after the city’s largest bank, DBS Group ...

BLOOMBERG JetBlue Airways Corp is preparing to trim New York flights during the upcoming “very busy” summer travel season after federal regulators asked carriers to reduce schedules by as much as 10% at some of the nation’s busiest airports. “This summer is going to be really hard again,” Chief Executive Officer Robin Hayes said at the Economic Club of New ...

BLOOMBERG Italy state-owned carrier ITA Airways approved a business plan shared with Deutsche Lufthansa AG, a further step towards selling a minority stake to the German airline. The plan envisages the development of ITA Airways’ fleet, network and strategic goals and it has been discussed by Italy’s Finance Minister Giancarlo Giorgetti, ITA Chairman Antonino Turicchi and Lufthansa’s Chief Executive Officer ...

BLOOMBERG Ryanair Holdings Plc has entered talks with Boeing Co for an order of as many as 200 narrow-body aircraft, in negotiations that stand to last 6-12 months, Chief Executive Officer Michael O’Leary said. The discount carrier has resumed talks with Boeing for the order, with potential delivery slated for the period between 2027 and 2031, O’Leary said in Brussels ...

BLOOMBERG Richard Branson was long a force to be reckoned with in the booming private space business. The British serial entrepreneur beat fellow billionaire Jeff Bezos to the first cosmic tourist trip with his Virgin Galactic venture. Branson’s second space foray, Virgin Orbit, strapped rockets under the wing of a jumbo jet to launch satellites on their flight path, complete ...

BLOOMBERG Ocado Group Plc said sales rose in the first quarter as new customers signed up to its online grocery business with Marks & Spencer Group Plc amid a rising cost-of-living crisis. Sales rose 3% on the year before and customers rose by nearly 14% during the period. Ocado expects to build on this momentum to return to sales growth ...

BLOOMBERG China Southern Airlines Co Ltd, the country’s largest airline by fleet size, expects to take delivery of more than 200 Boeing Co and Airbus SE single-aisle jets over three years. The Guangzhou-based carrier’s aircraft delivery and disposal plan revealed an addition of 103 Boeing 737 aircraft over the period. The report also showed that 111 Airbus A320 series jets ...