Aviation

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 ...

Bloomberg Boeing Co lost almost half of a 737 Max aircraft order from Bain Capital’s Virgin Australia under a new agreement that also postpones the initial jet delivery by two years to mid-2023. Virgin Australia will take 25 of Boeing’s Max 10 jets to serve as the “backbone” of future domestic and short-haul international flights, Jayne Hrdlicka, the budget carrier’s ...

Bloomberg South Africa faces a fresh battle with labour groups in its effort to revive the bankrupt state airline, offering three months of wages to employees who haven’t been paid since March. The government’s Department of Public Enterprises (DPE) and the National Union of Metalworkers of South Africa were scheduled to discuss the matter, according to a spokeswoman for the ...

Bloomberg Americans are expected to continue with their travel plans for the Christmas holiday with more than a million air passengers per day anticipated for several days during the holiday period, David Pekoske, administrator of the Transportation Security Administration (TSA), said during an aviation event. Americans plan to travel despite Center for Disease Control advice to stay at home and ...

Bloomberg American Airlines Group is expanding pre-flight coronavirus testing in an effort to boost demand for domestic travel. At-home tests would enable passengers with negative results to avoid or shorten Covid-19 quarantines and other restrictions at US destinations with travel requirements, American said in a statement. Starting from December 9, customers started having access to tests provided by LetsGetChecked for ...

Bloomberg Ratan Tata is no stranger to flying. As a 17-year-old, the patriarch of India’s biggest conglomerate once landed a plane that had lost its sole engine mid-flight. He’s also piloted the supersonic F-16 fighter jet. That love of aviation hasn’t always translated into business success, however. Tata Group’s two airlines — AirAsia India and Vistara — were struggling before ...

Bloomberg Bankrupt carrier Jet Airways India Ltd, once the nation’s biggest airline by market value, is planning to restart operations as a full-service carrier by the summer of 2021, its new owners announced. A consortium led by Dubai-based entrepreneur Murari Lal Jalan and Kalrock Capital has set a revival plan for Jet Airways, which includes a dedicated freighter service and ...

Bloomberg There are plenty of obstacles standing in the way of developing the first zero-emission, hydrogen-powered plane. It’s tricky to safely store and use the highly combustible fuel. There aren’t any airports equipped to refuel jets with it. And the cost of hydrogen itself is prohibitive, at least if you want to avoid producing greenhouse gases. Yet in September, Airbus ...

Bloomberg Brazil’s Gol Linhas Aereas Inteligentes SA said it will be the first airline to resume regular flights with Boeing Co’s 737 Max since safety officials lifted a lengthy grounding of the embattled jet last month. Passenger service on the Max will begin on December 9 on domestic routes from Sao Paulo, the airline said in a statement. Gol has ...