Aviation

Bloomberg The cost of air tickets between two major Asian financial hubs jumped within 24 hours of Singapore and Hong Kong unveiling plans for a travel bubble that wouldn’t require people to quarantine upon arrival. The cheapest price for a Singapore Airlines Ltd return economy seat to Hong Kong was S$558 ($410) up until the end of December, versus around ...

Bloomberg A rare mega deal by a Chinese airline is set to revive the country’s convertible bond market, after volatile trading dried up issuance of the popular securities. China Southern Airlines Co opened subscriptions for 16 billion yuan ($2.4 billion) of its convertible bonds, the largest deal for a non-financial firm since China Petroleum & Chemical Corp sold 23 billion ...

Bloomberg Ryanair Holdings Plc slashed its schedule and cut back its presence in several countries, blaming tighter travel restrictions that have hammered demand in Europe. The shares fell after the Irish discount carrier said it will operate at about 40% of its 2019 winter capacity, down from a previous plan to run at 60%. Ryanair will reduce the number of ...

Bloomberg A panel of creditors to Jet Airways India approved a resolution plan for the bankrupt airline, bringing a 16-month long process to recover dues to lenders closer to completion. Jet Airways’ lenders accepted the plans submitted by Murari Lal Jalan and Florian Fritsch, the carrier said. The airline didn’t provide any further details on the bidders or their proposal. ...

Bloomberg Delta Air Lines Inc is delaying $5 billion in aircraft deliveries until after 2022, dealing a blow to Airbus SE as the US carrier braces for years of weak travel demand. The deferrals include about $2 billion in planes that were scheduled to be handed over this year, Delta said in a statement as it reported worse-than-expected quarterly results. ...

Bloomberg Raytheon Technologies Corp began shedding salaried workers at its Pratt & Whitney jet-engine unit as the company prepares for a long slump in sales and repair work. Most of the involuntary cuts will occur over the next few days and affect workers in the US, Canada and Poland, Pratt said in an internal memo seen by Bloomberg News . ...

Bloomberg Americans are slowly starting to fly again, which signals a positive turnaround for owners of the more than $120 billion of municipal debt sold by the nation’s airports. Some 5.7 million travellers passed through checkpoints in the week ended on October 10, the most since the coronavirus pandemic scuttled air travel and halted tourism, according to the Transportation Security ...

Bloomberg Boeing is nearing 1,000 scrapped or impaired jetliner orders this year, failing to notch any sales in September, as the long 737 Max grounding and the coronavirus pandemic extended their toll. The reduction of 983 net plane orders this year has winnowed Boeing’s stockpile by 19%, according to data posted on the company’s website. Cancellations accounted for about a ...

Bloomberg Apollo Global Management Inc’s Sun Country Airlines is planning to restart its push for an initial public offering as soon as next year if travel demand picks up across the industry, said the carrier’s top executive. Sun Country’s core business of taking Midwest leisure travellers to Florida, Las Vegas and other warm-weather destinations has already recovered enough to turn ...

Bloomberg Allegiant Airlines is weighing purchases of used Airbus SE planes as soon as early 2021, bucking an unprecedented travel collapse that has gutted demand for jetliners. The carrier has been “inundated” with calls from airlines and aircraft lessors seeking to sell planes at deep discounts as they contend with the coronavirus pandemic, said Allegiant Chief Financial Officer Greg Anderson. ...