Aviation

Bloomberg Overseas travel from England that’s not related to work will be prohibited to help curb a resurgence of the coronavirus, throwing airlines into a fresh crisis. The new rules, part of a wider partial lockdown by Prime Minister Boris Johnson, will apply from Thursday until December 2 and come as the industry struggles to survive a collapse in demand. ...

Bloomberg South Africa’s National Treasury has defended a controversial 10.5 billion rand ($641 million) lifeline for its bankrupt national airline, saying that setting it on the path to recovery will entice private investors. “Government is not going to want to hold on to South African Airways (SAA) at all costs,” Treasury Director-General Dondo Mogajane said in an interview after the ...

Bloomberg Berlin’s new airport finally opened its doors, welcoming passengers after an eight-year delay just as fallout from the coronavirus hammers travel demand. Planes from Deutsche Lufthansa AG and Easyjet Plc landed at Berlin Brandenburg Willy Brandt Airport — known by its airport code BER — shortly after 2 pm on October 31 to inaugurate the hub. Regular departures started ...

Bloomberg Boeing Co is almost doubling its planned job cuts as the coronavirus pandemic and prolonged grounding of the 737 Max jet dim prospects for a financial recovery next year. With the outlook for aircraft sales still uncertain, executives abandoned a forecast that Boeing would stop burning cash next year and said they would eliminate an additional 7,000 jobs. That ...

Bloomberg The Netherlands has rejected a cost-cutting plan put forth by Air France-KLM’s Dutch arm and withheld a portion of a $4 billion government bailout until it approves the restructuring plan. The Dutch government won’t grant a second tranche of state aid because pilot union VNV rejected a pay cut, Finance Minister Wopke Hoekstra and Infrastructure and Water Management Minister ...

Bloomberg IAG SA, owner of British Airways, said it is conducting a review of hedging policy after the coronavirus pandemic sparked a mammoth loss on oil derivatives contracts. The company uses such contracts to try and limit its fuel bill — usually the single biggest expense for airlines — but lost 1.6 billion euros ($1.9 billion) as a result of ...

Bloomberg IndiGo will trim its fleet size over the next two years as the coronavirus pandemic continues to weigh on Asia’s biggest budget airline by market value and other carriers around the world. “Fleet count will be stagnant, go down a little,” CEO Ronojoy Dutta told analysts during a conference call. “In 2022, we will be down slightly, by 2023, ...

Bloomberg Rolls-Royce Holdings Plc shareholders backed a 2 billion-pound ($2.6 billion) equity raise, a key step towards shoring up the British engine maker’s finances to outlast the Covid-19 pandemic. Investors voted 99.5% in favour of the rights issue, according to a statement. Their support means Rolls-Royce can access a further 3 billion pounds of funds, through a bond sale and ...

Bloomberg EasyJet Plc sold more jets to aircraft lessors, raising almost $400 million to pad its finances against a surge in Covid-19 cases that’s pushed a travel recovery into next year. The UK discount airline said it sold nine Airbus SE A320 jets in two transactions, and will lease the planes back for almost 10 years, according to a statement. ...

Bloomberg SpiceJet Ltd is starting a seaplane service connecting the city of Ahmedabad with Kevadia, site of the world’s tallest statue — a 182-metre tribute to the country’s first home minister, Vallabhbhai Patel. Flights will start this Saturday, the 145th anniversary of Patel’s birth, from Sabarmati riverfront to near the so-called Statue of Unity. Fares for the 30-minute trip on ...