Aviation

Bloomberg Airbus SE is considering reduced working time in production areas in France over the next two years to help the European planemaker limit job losses prompted by a collapse in global air travel due to Covid-19. The move would help it preserve skills in order to restart single-aisle aircraft production at rates similar to last year between 2023 and ...

Bloomberg ANA Holdings tumbled as much as 8.5% in Tokyo trading on September 28, its biggest intraday drop since April 1, after a report the airline is considering raising $1.9 billion via a public share offering. The Japanese carrier is also planning to cut costs by selling aircraft and disposing of non-core businesses, Nikkei reported, without saying where it got ...

Bloomberg The top US aviation regulator plans to test-fly Boeing Co’s grounded 737 Max in an attempt to show an antsy public that proposed fixes will be safe, according to a notification sent to Congress. Federal Aviation Administration (FAA) chief Steve Dickson, who is licensed to fly the 737 along with several other jetliners from his time as a pilot ...

Bloomberg Delta Air Lines Inc warned it would take a pretax accounting charge of $2 billion to $2.5 billion after deciding to remove three aircraft types from its fleet amid an unprecedented collapse in air travel. The noncash impairment will be recorded in third-quarter results, which are due next month, Delta said in a regulatory filing. The company will retire ...

Bloomberg American Airlines Group Inc closed a $5.48 billion loan with the US Treasury, increasing its pool of cash to help fund operations until travel demand begins to return. The credit facility, backed by American’s loyalty program, increased from an original $4.75 billion target after rivals such as Delta Air Lines Inc and Southwest Airlines opted out of the funds ...

Bloomberg Hawaiian Airlines will offer customers drive-through coronavirus testing in California to help island-bound travellers avoid a 14-day quarantine rule —its answer to rival United Airlines’ new on-the-spot airport screenings. The competing testing plans would satisfy Hawaii’s requirement for visitors to show a negative test result within 72 hours of arrival in order to avoid its self-isolation rule, which has ...

Bloomberg The hedge fund Citadel Advisors, United Airlines and a Salvadoran air mogul are among investors offering loans as part of Latin American airline Avianca Holdings’s $2 billion bankruptcy financing plan, according to court documents. The companies, which were stakeholders in the carrier before it filed for Chapter 11 protection in May, would help provide about $722 million in loans. ...

Bloomberg Rolls-Royce Holdings Plc fell to its lowest in 17 years after detailing a plan to raise as much as 2.5 billion pounds ($3.2 billion) to brace against a drought in demand for aircraft engines. Shares of the UK company slid for a fifth straight session on September 21, dropping as much as 12% after saying two days earlier it’s ...

Bloomberg Transat AT Inc, hit hard by the coronavirus pandemic, dropped to an eight-year low as investors bet against a travel recovery and the completion of a takeover by Air Canada. Shares of Montreal-based Transat have slumped every trading day this month except one. The stock’s 13-session losing streak is its longest since 2008. Transat has lost about C$475 million ...

Bloomberg FedEx Corp is looking at using small self-flying cargo planes to serve remote areas after experimenting with a technology startup on autonomous aircraft, said Chief Executive Officer Fred Smith. The effort builds on the courier’s work with Silicon Valley’s Reliable Robotics, which was founded by veterans of Elon Musk’s Space Exploration Technologies Corp. With approval from the US Federal ...