Aviation

Bloomberg French Finance Minister Bruno Le Maire said he would guarantee the survival of Air France after his Dutch counterpart warned more cost cuts may be needed to get through the deep industry slump. France will “do what is necessary to guarantee the survival of Air France,” Le Maire said on France 2 television. “We’ve already done a lot, and ...

Bloomberg When the Covid-19 crisis hit the airline business this year, Deutsche Lufthansa AG was planning to phase out the half-dozen aging MD-11 freighters that remain in its fleet by the end of 2020. Then cargo rates skyrocked. The virus destroyed demand for air travel, and as airlines grounded their fleets they also created a shortage of air-cargo space by ...

Bloomberg Flying business class isn’t what it used to be. Efforts to minimise human interaction and reduce the risk of Covid-19 infection are taking the shine off the most expensive seats onboard commercial aircraft. Gone are the multi-course banquets and warm personal service, once the hallmarks of carriers like Singapore Airlines Ltd and Cathay Pacific Airways Ltd. These days, what’s ...

Bloomberg Cathay Pacific Airways Ltd is still burning through as much as HK$2 billion ($258 million) a month and will continue to do so until the market recovers from the coronavirus crisis, the company said as it reported dismal August traffic figures and reiterated the need to restructure. “We are weathering the storm for now, but the fact remains that ...

Bloomberg Thai Airways International Pcl, the nation’s flagship carrier, got court approval for its business restructuring on Monday. The Central Bankruptcy Court decided that the airline can proceed with its business reorganisation plan, a crucial step forward for the embattled company, which has around 350 billion baht ($11 billion) of debt, according to Chansin Treenuchagron, its acting president. The flagship ...

Bloomberg Singapore Airlines Ltd is eliminating about 4,300 jobs, or 20% of its workforce, as the coronavirus outbreak devastates the aviation industry. The cuts will be made at Singapore Airlines and its SilkAir and Scoot units. Discussions are underway with unions and arrangements will be finalised as soon as possible, the carrier said in a statement. “Having to let go ...

Bloomberg Two top Boeing executives have told US government investigators that the design process for the 737 Max was not flawed, despite the plane suffering two fatal crashes, according to the Wall Street Journal. Keith Leverkuhn and Michael Teal, who oversaw the development of the aircraft, didn’t concede any procedural mistakes, according to the article, which cited transcripts of closed-door ...

Bloomberg A Colombian court temporarily blocked a $370 million government loan to Avianca Holdings SA after a citizen expressed concern about a lack of guarantees. The Cundinamarca Administrative Tribunal granted an injunction to suspend disbursement after a motion filed by a citizen against the Finance Ministry, the presidency and the airline said the loan, part of its debtor-in-possession financing, may ...

Bloomberg Thai Airways International Pcl, the nation’s flagship carrier, faces one of its biggest challenges in its 60-year history, with a local court set to rule on its debt restructuring on Monday. The Central Bankruptcy Court will decide whether the airline can proceed with its plan to rehabilitate its debt. The company, which had total liabilities of 332.2 billion baht ...

Bloomberg Deutsche Lufthansa AG plans to eliminate its biggest passenger jets as it deepens fleet cuts, creating a knock-on in additional job losses, people with knowledge of the proposals said. Lufthansa is looking at retiring remaining Airbus SE A380 double-deckers, the bulk of smaller A340s, and all of its older Boeing Co 747-400 jumbos, according to the people, who asked ...