Aviation

Bloomberg Indonesia’s flag carrier needs cash fast as losses soar past a half-billion dollars and unpaid bills pile up, yet negotiations for government aid move slowly and still may not yield enough to cover the shortfall. A first-half loss of $713 million, announced last week, was just the latest piece of bad news for PT Garuda Indonesia. The airline already ...

Bloomberg Japan Airlines Co posted its biggest quarterly net loss in at least eight years and decided to forgo paying an interim dividend as it contends with the devastating impact of the coronavirus. The carrier’s first-quarter loss was 93.7 billion yen ($89 million), the most since it re-listed on the Tokyo stock exchange in 2012 after emerging from bankruptcy. Since ...

Bloomberg Wizz Air Holdings Plc will accelerate the rate of new-plane deliveries from Airbus SE, taking advantage of deferrals from other customers to feed its own expansion. The Hungarian low-cost airline will receive about 30 A321neo jets in 2021, five more than previously planned, Chief Executive Officer Jozsef Varadi said in an interview. Talks with Airbus included commercial arrangements, he ...

Bloomberg Air Canada escalated a fight with the government of Prime Minister Justin Trudeau over the country’s stringent travel rules, threatening to suspend more routes and cancel orders of locally made planes. Chief Executive Officer Calin Rovinescu lambasted the government during the airline’s second-quarter earnings call, saying that current restrictions — especially a mandatory 14-day quarantine for all travellers coming ...

Bloomberg United Airlines Holdings Inc will boost flights modestly in September as it resumes service on more than 25 international routes and begins skewing its network towards leisure traffic. The September schedule will amount to 37% of last year’s level, a slightly higher portion than the plan for August, United said in a statement. Destinations in Mexico and the Caribbean ...

Bloomberg British Airways pilots accepted a pay cut of 20% in a deal to limit job losses, resolving a bitter dispute at the IAG SA unit as carriers seek to weather the global slump in air travel caused by the coronavirus. Just over one-fifth of the 1,255 redundancies initially planned will now go ahead, and some of those may also ...

Bloomberg Kenya Airways Plc will resume flights to Tanzania after talks by the two nations’ transport ministers, rescinding a decision by the country’s Civil Aviation Authority. The Tanzanian regulator had cancelled plans to allow the airline to resume flights because it said Kenya excluded Tanzanians from the list of nationals allowed into its territory under revised coronavirus restrictions. “We managed ...

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 ...