Aviation

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 ...

Bloomberg The head of Indonesia’s flag carrier said better terms on aircraft loans will help it avoid falling into bankruptcy as the nation grapples with surging coronavirus cases. “We discussed the risks, the benefits, the pluses and minuses and the company’s leadership decided against it,” PT Garuda Indonesia President Director Irfan Setiaputra said when asked in an interview about considering ...

Bloomberg TUI AG said it’s making progress on plans to cut overhead costs by 30% as the world’s largest tour operator struggles to cope with a collapse in demand for its holidays. Measures including increased digitalisation that are underway across TUI’s head office, destination services and markets and airlines operations are already set to deliver close to a 300 million-euro ...

Bloomberg European planemaker Airbus SE unveiled three designs it’s studying to build hydrogen-powered aircraft as it races to bring a zero-carbon passenger plane into service by 2035. The approaches include a turbofan jet with capacity for as many as 200 passengers — similar to its A321neo narrow-body — that can fly more than 2,000 nautical miles, according to a statement. ...

Bloomberg Avianca Holdings SA, the Latin American airline that filed for Chapter 11 bankruptcy protection in May, is now seeking court approval for financing totaling about $2 billion. The company secured commitments for the debtor-in-possession financing and has filed a motion to approve it in the US Bankruptcy Court for the Southern District of New York. “Securing these financing commitments ...

Bloomberg While flight shaming and the coronavirus pandemic have spurred airlines to hasten the retirement of their oldest, fuel-guzzling aircraft, not all those planes end up in boneyards in the desert. Many find a second life in the fleets of Amazon.com Inc and other cargo carriers. Amazon has been among the biggest lessors of converted Boeing Co 767s in the ...

Bloomberg A whistle-blower at Boeing Co is urging aviation regulators to add additional protections to the grounded 737 Max. Curtis Ewbank, who has previously raised concerns about the plane’s design with congressional investigators, said in comments filed with the Federal Aviation Administration (FAA) that a proposal to mandate fixes to the jet didn’t address multiple hazards identified in the two ...