Aviation

BLOOMBERG Virgin Orbit Holdings Inc said it’s targeting “an incremental resumption of operations” after temporarily halting activities in the wake of a failed satellite launch a few months ago that threw the ambitious space program off course. “Our first step will begin on Thursday of this week, when we plan to return a subset of our team to focus on ...

BLOOMBERG  Air India Ltd is in talks with banks to help fund its recently announced record aircraft order, benefitting from the support of new owner Tata Sons Ltd, the carrier’s chief executive officer said. “We have the backing of Tata Sons, so there is financing available for these aircraft,” CEO Campbell Wilson said in an interview with Bloomberg News on ...

BLOOMBERG Canadian holidaymakers jetting south for spring break on red-eye flights with Flair Airlines Ltd were in for a surprise when the Boeing Co 737s they were about to board were seized by agents acting on behalf of a jet leasing firm that manages the planes. The episode emerged from a $50 million lawsuit filed by Flair in the Ontario ...

BLOOMBERG Aéroports de Paris (ADP) and GMR Airports Infrastructure Ltd agreed to fold their joint-venture company into GMR, giving ADP a liquid stake in a business that owns airfields in India. ADP and GMR Airports Infrastructure own 49% and 51%, respectively, of the unlisted GMR Airports Ltd, according to a statement from the French company, which operates Paris’s Charles de ...

BLOOMBERG India will spend about 980 billion rupees ($12 billion) over the next two years on airports, with airline orders for hundreds of new planes to meet resurgent travel demand putting pressure on existing infrastructure. The world’s fastest-growing aviation market aims to boost the number of airports to 220 by 2025 from the current 148, for which private builders will ...

BLOOMBERG London Heathrow stands to suffer severe disruptions during the busy Easter travel period after some workers at the airport voted in favour of walkouts, the latest flareup in the country that has seen months of strikes over pay amid a cost of living crisis. More than 1,400 security workers at the hub voted in favour of 10 days of ...

BLOOMBERG The massive renovation to New York City’s John F Kennedy International Airport has gotten even more expensive. The Port Authority of New York & New Jersey increased its funding authorisation for the infrastructure portion of the project by about $1 billion, making the new budget $3.9 billion, after costs surged due to higher inflation, soaring labour expenses and supply ...

BLOOMBERG FedEx Corp’s shares climbed after the courier boosted its profit outlook, signalling efforts to cut costs are helping counter a decline in package volume. Adjusted earnings this fiscal year will be $14.60 to $15.20 a share, up from a prior forecast of no more than $14, the Memphis, Tennessee-based company said in a statement. Analysts were expecting $13.57 on ...

BLOOMBERG Boeing Co and Airbus SE are increasingly looking to India for highly-skilled, low-cost engineers to meet a boom in demand for aircraft and expand their manufacturing presence in the world’s fifth-largest economy. Airbus plans to hire 1,000 people in India this year out of 13,000 globally. Boeing and its suppliers, which already employ about 18,000 workers in the nation, ...

BLOOMBERG After being hit during the pandemic harder than pretty much any airline still flying, Cathay Pacific Airways Ltd has a very good chance of posting a net profit this year and returning to full capacity in 2024, according to Chief Executive Officer Ronald Lam. Covid-related disruption had such an impact on Hong Kong air travel that on one day ...