Aviation

Bloomberg General Electric (GE) Co predicted slow gains in operations this year and next after the coronavirus pandemic battered results in the second quarter. The jet-engine division has tracked “early signs of improvement” in flight departures on the path to a lengthy recovery, GE said in a presentation as it reported results. The company burned through $2.1 billion in industrial ...

Bloomberg The administrators of South African Airways (SAA), the state-owned airline that’s in bankruptcy protection, want the government to set aside 16.4 billion rand ($998 million) that it’s guaranteed to pay creditors. The Treasury says the current structure of its guarantees should suffice. The administrators want an agreement for the money to be paid into an escrow account — the ...

Bloomberg Kids have only just started their summer break yet Ryanair Holdings Plc Chief Executive Officer Michael O’Leary is already counting the days until they go back to school. With fresh travel restrictions threatening to jeopardise the long-awaited summer recovery, O’Leary said he needs the re-opening of schools in September to reignite business travel and enable Europe’s largest discount carrier ...

Bloomberg Asian airlines carried only 724,000 international passengers in June, a 98% slump from a year earlier, as restrictions on movement suppressed air travel, the Association of Asia Pacific Airlines (AAPA) said. Average passenger load factor was just 36.3%, AAPA said in a statement on Tuesday. The group’s director general, Subhas Menon, said the prospect of a recovery in the ...

Bloomberg Singapore Airlines Ltd, consistently voted one of the world’s best airlines by Skytrax, is poised for another hefty quarterly loss after the coronavirus left it flying a tiny fraction of its usual number of passengers. The airline warned this month that it expects a material operating loss in its fiscal first quarter. It already suffered a record net loss ...

Bloomberg Ryanair Holdings Plc issued a stark assessment of the threat to airlines as they seek to rebound from the coronavirus crisis, saying it’s concerned that a series of local lockdowns followed by a second wave of infection will hold back the recovery from the pandemic. Ryanair kicked off earnings season for European carriers on Monday by posting a loss ...

Bloomberg A program with Quest Diagnostics and the Mayo Clinic will “test virtually all employees in the next four weeks,” Delta said in a statement, outlining one of the more ambitious plans in corporate America. The carrier also told employees it would introduce at-home testing in the viral hot spots of Florida and Texas, as well as for workers based ...

Bloomberg Boeing Co 737 planes in storage because of the coronavirus pandemic are at risk of losing power in both engines when they fly again and must be inspected, the US Federal Aviation Administration (FAA) said. The emergency order applies to about 2,000 older Next Generation and Classic versions of Boeing’s workhorse single-aisle jet in the US, not the grounded ...

Bloomberg British Airways owner IAG SA is looking at raising as much as 2.75 billion euros ($3.2 billion) in a share sale to help strengthen its balance sheet and ride out the coronavirus crisis. The London-based group, which also owns Spain’s Iberia and Aer Lingus of Ireland, said that it may opt for a rights issue, though no final decision ...

Bloomberg Creditors of South African Airways (SAA) gave the government more time to find the money to fund a rescue of the bankrupt state-owned airline. At a meeting convened by the airline’s administrators, creditors voted to extend the deadline to July 27 from an initial deadline of July 22. If the money is not guaranteed by then, another creditors meeting ...