Aviation

Bloomberg Ryanair Holdings Plc plans to cut fewer jobs than initially planned after staff agreed to pay reductions, Sky News reported, citing a senior executive at the company. Europe’s biggest discount carrier originally planned to eliminate 3,000 positions, but will now significantly reduce that total after 97% of pilots and 90% of cabin crew agreed to pay cuts and changes ...

Bloomberg Singapore Airlines Ltd has burned through half of the S$8.8 billion ($6.4 billion) it raised through share sales in just two months even as it cut costs and grounded most of its fleet, highlighting how carriers can keep incurring expenses even when planes are left idle. Of the S$4.4 billion spent since mid-June, S$1.1 billion was used for operating ...

Bloomberg Bain Capital’s resurrection of collapsed airline Virgin Australia Holdings Ltd faces mounting legal opposition as bondholders rally to derail the takeover and salvage some of their debt. What started weeks ago as a long-shot challenge to Bain’s deal from two little-known investors in Asia has attracted the biggest names in finance. Now UBS Group AG, Deutsche Bank AG and ...

Bloomberg Boeing Co is preparing to offer buyouts to employees for a second time this year as the virus-stricken planemaker extends its workforce cuts beyond the original 10% target unveiled in April. The “voluntary layoff” will be offered largely to staffers in the company’s commercial airplanes unit, services division and corporate operation, CEO Dave Calhoun said in a message to ...

Bloomberg Ryanair Holdings Plc, Europe’s biggest discount carrier, slashed capacity for September and October after demand weakened, and other carriers are weighing similar cuts following a European surge in new virus cases. The Irish discount carrier will reduce the number of flights by 20% in the next two months due to uncertainty among travellers driven by a rise in Covid-19 ...

Bloomberg Deutsche Lufthansa AG’s cabin crew voted in favour of a 500 million-euro ($592 million) savings pact, its union said in a statement, a day after talks with ground staff collapsed. Members of the UFO union agreed to two collective agreements, and also voted in favour of clarifying rules around state wage support and severance payments, according to the statement. ...

Bloomberg JetBlue Airways Corp’s top executive is joining an industry push for additional federal help as passenger totals plateau at about a quarter of year-earlier levels. Airlines are “in a very, very critical situation right now,” said Chief Executive Officer Robin Hayes as he called on the Trump administration and Congress to resolve a stalemate over a new economic stimulus ...

Bloomberg London City Airport Ltd will pause the building of the next stage of a 480 million pound ($628 million) expansion due to a slower-than-expected recovery of the UK aviation industry from the Covid-19 pandemic. The airport operator will postpone plans to extend its passenger terminal and new east pier from the end of this year, the company said in ...

Bloomberg Deliveries of commercial aircraft over the next ten years will be 30% lower than previously forecast, Aviation Week Network said in a video conference. The prediction spans regional jets to widebody planes, and the latter will be hardest-hit, Aviation Week analyst Dan Williams said on the call. Covid-19 pandemic has battered demand for air travel, with most industry participants ...

Bloomberg Cathay Pacific Airways Ltd shares extended their double-digit rally after a Chinese state-run newspaper tweeted that Hong Kong’s airport may restart transfer flights to mainland China, a move that could inject the beleaguered carrier with some much-needed travelers. Cathay climbed more than 13%, its biggest intraday gain in two months, as the Global Times said on Twitter that the ...