Aviation

Bloomberg Air France-KLM will offer refunds to customers whose flights were canceled due to the coronavirus pandemic in a policy reversal that could put further pressure on the struggling carrier’s balance sheet. The airline will give travellers a choice between a reimbursement or a voucher for a future flight worth 15% more than the initial ticket value, according to a ...

Bloomberg Ethiopian Airlines Group sees African air traffic returning to pre-coronavirus crisis levels quicker than the rest of the world, boosted by a temporary spike in demand from stranded citizens returning home. Governments of countries including Uganda, Kenya and Madagascar closed their borders before or almost immediately after confirming their first Covid-19 cases, leaving thousands of business, student and health ...

Bloomberg Air Canada will cut at least 20,000 jobs, or about half its workforce, amid the Covid-19 pandemic, the Canadian Press reported. The job cuts will be effective from June 7 and could affect as many as 22,800 workers, according to an internal company email seen by the Canadian Press. The downsizing will reduce the airline’s workforce by 50% to ...

Bloomberg Airbus SE is preparing for permanent job cuts after warning unions that it needs to rein in production amid a collapse in demand, people with knowledge of the situation said. Discussions have begun with labour groups in Germany, France and Spain, the people said, with the formal process expected to start next week. The number of positions to be ...

Bloomberg Korean Air Lines Co plans to sell new shares to raise about 1 trillion won ($817 million) after the coronavirus outbreak wiped out 90% of its flights. The Seoul-based carrier aims to sell about 79.4 million new shares to existing holders in July, it said in a regulatory filing. The price is initially estimated at 12,600 won a share, ...

Bloomberg UK Prime Minister Boris Johnson said the global aviation industry needs to limit carbon-dioxide emissions once air travel resumes following the coronavirus crisis. “Inadvertently this year the planet will greatly reduce its CO2 emissions,” Johnson said. “We need to entrench those gains. I don’t want to see us going back to an era of the same kind of emissions ...

Bloomberg Brookfield Asset Management Inc and Indian aviation tycoon Rahul Bhatia are considering bids for Virgin Australia Holdings Ltd, joining a score of suitors seeking to capitalise on Asia’s first airline casualty from the coronavirus pandemic, people with knowledge of the matter said. The Canadian investment firm, which manages more than $540 billion, is planning to make its own indicative ...

Bloomberg Ryanair Holdings Plc sees an opportunity to buy planes for less and reduce other costs with weaker rivals out of the picture once the airline industry emerges on the other side of the coronavirus pandemic. Dublin-based Ryanair is in “advanced discussions” with Boeing Co over pricing for 737 Max jets, Chief Executive Officer Michael O’Leary said at a Financial ...

Bloomberg The German government is engaged in last-minute debates over the details of its bailout of Deutsche Lufthansa AG, with Chancellor Angela Merkel seeking a deal that doesn’t involve a direct stake in the national carrier, while her deputy, Finance Minister Olaf Scholz, favors such an investment, according to people familiar with the matter. Under a scenario preferred by the ...

Bloomberg TUI AG will eliminate as many as 8,000 jobs, about 15% of its workforce, to cut costs and slim down its business as people travel less and favor different locations following the coronavirus outbreak. The world’s biggest package-holiday company is seeking to pare overall costs by almost one-third and offer more local breaks in the hope of encouraging a ...