Aviation

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 ...

Bloomberg Delta Air Lines Inc will drop service to 11 midsize US cities next month amid weak demand because of the Covid-19 pandemic, a reminder of the industry’s fragility after a record stock rally. The service suspensions affecting cities from Aspen, Colorado, to Bangor, Maine, will help lower costs, Delta said in a statement. The affected airports are among 75 ...

Bloomberg Boeing Co is heading for its best week in more than two months as surprise job gains and airline bookings signal that demand for air travel — and jetliners — is poised to recover from a historic plunge. The US planemaker’s status among investors has recently flipped to darling from market pariah, although analysts caution that Boeing still faces ...

Bloomberg China will ease its ban on foreign airlines starting from June 8, changing course a day after the Trump administration demanded the country reopen to US airlines or face curbs on its own carriers flying passengers to America. Foreign airlines excluded from an earlier pact will be able to operate one commercial passenger flight to China a week, the ...