Aviation

Bloomberg Bain Capital LP agreed to buy collapsed airline Virgin Australia Holdings Ltd in one of the biggest single bets on the industry since it was shattered by the coronavirus pandemic. Administrator Deloitte named Bain as the airline’s new owner, hours after rival buyout firm Cyrus Capital Partners LP withdrew its bid. The value of the deal wasn’t disclosed, though ...

Bloomberg Deutsche Lufthansa AG’s biggest stockholder publicly backed a 9 billion-euro ($10 billion) government bailout, giving the rescue plan a major shot of momentum and boosting the airline’s shares and bonds just before a crunch vote. With Heinz Hermann Thiele declaring support after days of frenzied speculation about his intentions, the state rescue appears likely to secure the two-thirds backing ...

Bloomberg EasyJet Plc raised about 419 million pounds ($520 million) in a share sale, padding its coffers for the gearing up of flights as the European aviation sector emerges from the coronavirus lockdown. The stock offering, equal to almost 15% of the existing share base, was placed at the price of 703 pence a share, representing a 5% discount to ...

Bloomberg Swissport International AG plans to cut more than 4,500 jobs in Britain as the world’s biggest provider of airport ground and cargo handling services responds to a collapse in demand for air travel. The Zurich-based company, which is owned by troubled Chinese conglomerate HNA Group Co, needs to reduce employment to cope with a 50% drop in revenue this ...

Bloomberg Qantas Airways Ltd will raise as much as A$1.9 billion ($1.3 billion) and cut at least 6,000 jobs as the coronavirus pandemic continues to keep carriers around the world largely grounded. The Australian airline said on Thursday also that 15,000 workers will remain furloughed, particularly those tied to international operations. The carrier’s entire fleet of 12 Airbus A380 superjumbos, ...

Bloomberg Airlines may be struggling to survive the industry’s worst-ever downturn, but investors in Iceland reckon the time is ripe to launch a brand new carrier. Play Air aims to commence flights this fall with a plan borrowed from Wow Air Hf, which collapsed in 2019. Like Wow, it will seek to exploit Iceland’s position in the North Atlantic to ...

Bloomberg Pakistan said the Airbus SE A320 crash in a Karachi neighbourhood last month happened because of errors made by the pilot and air traffic controllers (ATC). Both engines of the state-run Pakistan International Airlines Corp plane were damaged during the first failed attempt at landing at the airport, aviation minister Ghulam Sarwar Khan told lawmakers in parliament. The aircraft ...

Bloomberg EasyJet Plc faces a lawsuit over a data breach disclosed last month that potentially exposed private details of 9 million passengers. More than 10,000 people have joined the suit since it was filed last month, according to law firm PGMBM. Victims are entitled to as much as 2,000 pounds ($2,500) in compensation, meaning the case could be worth as ...

Bloomberg People infected with the coronavirus were allowed to board aircraft and travel to Hong Kong in recent days, highlighting the challenge of controlling the pandemic at the same time governments seek the safest ways to reopen borders. Hong Kong’s health authority said one infected passenger arrived from Manila on a Cathay Pacific Airways Ltd flight, and another was on ...

Bloomberg South Africa’s government plans to retain a minority shareholding in South African Airways, the national airline that has been in bankruptcy protection for the last six months, while ceding management control to its investors, an official said. “We are not obsessed with control,” Kgathatso Tlhakudi, deputy director-general at department of public enterprises, said in an interview on Johannesburg-based Radio ...