Aviation

Bloomberg The French government unveiled a rescue plan for the struggling aerospace industry that includes billions of euros to support Airbus SE and its suppliers hard hit by the Covid-19 pandemic. The measures, worth 15 billion euros ($17 billion), include export guarantees and credit relief for some new aircraft orders, as well as an extension of part-time work subsidies to ...

Bloomberg Deutsche Lufthansa AG’s historic state bailout increased by 450 million euros ($508 million) after Austria agreed to provide support to the German carrier’s division in the country. Austrian Airlines will get 150 million euros in direct aid plus 300 million euros in loans underwritten by the government, helping to sustain the unit as carriers begin to restore flights amid ...

Bloomberg Vietnam is considering the resumption of some international flights to and from destinations that have had no novel coronavirus cases in the past 30 days, according to a statement on the government’s website. Vietnam Prime Minister Nguyen Xuan Phuc directed the National Steering Committee for Coronavirus Prevention and Control to report on international destinations considered to be safe, according ...

Bloomberg Over the past dozen years, Airbus SE has grown from a European planemaker with purely local production into a global manufacturer with assembly lines on three continents that give it more clout to win orders around the world. But as the aviation industry enters its most dramatic downturn ever, the company is finding that broad reach turning from an ...

Bloomberg South Korea’s financial authorities will provide one trillion won ($828 million) in liquidity to Korean Air Lines Co by issuing government-guaranteed bonds as early as the end of this month, Yonhap News reported. The cash-strapped flag carrier needs the funds to stay afloat as the aftermath of the Covid-19 outbreak is likely to continue to hinder its operations into ...

Bloomberg The French government will present a plan worth billions of euros to rescue its beleaguered aerospace industry, protect key suppliers from Chinese interests and may bring forward some defense orders, the transport minister said. The aid package to be is aimed at European jet manufacturer Airbus SE, engine maker Safran SA, defense group Thales SA, and hundreds of French ...

Bloomberg Singapore Airlines Ltd will focus on recovering from the coronavirus outbreak and doesn’t plan to cut jobs at the moment, the Sunday Times reported, citing the carrier’s CEO Goh Choon Phong. Still, the airline will have to review possible job cuts, Goh was quoted as saying in the report, without providing more details. Singapore Airlines has offered its staff ...

Bloomberg London Heathrow airport said it may need to cut one-third of its workforce if the UK government doesn’t indicate soon that it plans to relax a quarantine rule for incoming passengers. Europe’s busiest air hub, which employs 7,000 people, has eliminated a third of operating costs and management posts while resisting permanent job cuts among frontline staff, Chief Executive ...

Bloomberg The Trump Administration, in the latest move ratcheting up tensions in US-China trade, said that the nation had continued to violate airlines’ rights by restricting flights and ordered new limits on its carriers. Responding to a move by China to limit US passenger airlines to one flight per week each, the US Department of Transportation said it would only ...

Bloomberg An emergency measure allowing Colombia’s government to take equity stakes in private companies opens the door for a bailout of the nation’s largest airline, Avianca Holdings SA, which declared bankruptcy last month amid an unprecedented downturn in travel. The new regulation, which permits the government to take minority positions in companies that have been impacted by the sharp economic ...