Aviation

BLOOMBERG Eagle-eyed travellers snapped up heavily discounted tickets in the fanciest cabins on All Nippon Airways (ANA) after a currency conversion blunder, with one paying just $890 for flights in first class all the way from Jakarta to the Caribbean via Tokyo and New York, and back again. That 9,000-mile journey would typically cost nearly 20 times as much in ...

BLOOMBERG Malaysia Airlines Bhd will increasingly focus on the Indian market with the airline still not seeing China bounce back after its sudden reopening following years of Covid restrictions. “For now, our key emphasis is on the Indian network,” the carrier’s Chief Strategy Officer Bryan Foong told reporters in Kuala Lumpur. “For us, the emphasis of growth in India is ...

BLOOMBERG Airbus SE has clawed back a €100 billion ($110 billion) market value last reached before the coronavirus pandemic in early 2020 knocked the stock, as a rapid rebound in air travel swells the planemaker’s order book. The Toulouse, France-based planemaker last had a market capitalisation in excess of €100 billion in the early weeks of 2020, after which the ...

BLOOMBERG Delta Air Lines Inc sees profit this quarter topping Wall Street’s estimates, buoyed by steady bookings heading into the crucial summer travel season, even as it posted weaker-than-expected results for the first months of the year. Adjusted second-quarter earnings will be $2 to $2.25 a share, the Atlanta-based airline said in a statement. That compares with a $1.61 analyst ...

BLOOMBERG Airbus SE delivered 127 jetliners in the first quarter, a 9% drop from a year earlier, as parts shortages spilled into 2023. Deliveries totalled 61 aircraft in March, the world’s biggest planemaker said. The first-quarter drop will make it harder for Airbus to reach its goal of increasing shipments to 720 this year. Meeting output targets is crucial for ...

BLOOMBERG Airbus SE will double production capacity in China of its top-selling jet in a bold bet on future demand in one of the world’s biggest aviation markets. The European planemaker will add a second final assembly line for A320 narrow-bodies at its existing factory in Tianjin, under a deal signed by Chief Executive Officer Guillaume Faury in Beijing. The ...

BLOOMBERG Southwest Airlines Co, which promised to cut bonus payments after a late-December meltdown in flight operations, boosted short-term incentive pay for its chief executive officer and chief operations officer. CEO Bob Jordan’s bonus for 2022 rose 89% to $195,720, according to a regulatory filing by the Dallas-based airline. He received more than $5.3 million in total compensation last year, ...

BLOOMBERG FedEx Corp is seeking to cut $4 billion in costs by combining its two main delivery networks, in an ambitious plan by new Chief Executive Officer (CEO) Raj Subramaniam to increase profit margins. The company has for decades operated an express package business separately from its ground unit, which FedEx acquired in 1998 and depends on third-party contractors to ...

BLOOMBERG Virgin Orbit Holdings Inc filed for bankruptcy after the satellite launch firm tied to British billionaire Richard Branson failed to secure the funding needed to keep operating and cut about 85% of its staff. The company listed $243 million in assets and $153.5 million for its total debt in a Chapter 11 petition filed in Delaware. The move punctuates ...

BLOOMBERG Amsterdam’s Schiphol airport has a lot to boast about — the best direct flight connectivity across Europe, a terminal layout that’s easy to navigate, and an underground railway station that links it to major cities across Europe. Now a proposal for a capacity cap to minimise noise stands to dim the allure of one of Europe’s prime hubs. The ...