Aviation

Bloomberg South African Airways (SAA) plans to lay off its entire 4,700-strong workforce after failing to persuade the government to provide more financial help, a move that threatens to ground the 86-year-old national carrier for good. The state-owned airline has offered severance deals to all staff from the end of this month after administrators concluded that a successful turnaround is ...

Bloomberg Virgin Australia Holdings Ltd has been offered a A$200 million ($127 million) lifeline from the Queensland government less than 24 hours after Australia’s Deputy Prime Minister all but ruled out nationalising the embattled carrier. The funding is conditional on the Federal government coordinating a response involving all states and territories. Under the proposal the company would remain headquartered in ...

Bloomberg General Electric Co’s aircraft-leasing division scrapped orders for the 737 Max worth at least $6.9 billion based on list prices, dealing another blow to Boeing Co as it grapples with a plunge in jetliner demand because of the coronavirus pandemic. The cancellation of 69 undelivered jets stems from an agreement with Boeing to “rebalance” the order book, GE Capital ...

Bloomberg Southwest Airlines, a discounter that flies mostly in the US, is the world’s largest carrier — for now. The ranking is based on the number of seats flown this week, as compiled by aviation data provider OAG. Southwest moved to the top spot as its larger rivals nearly abandoned international routes after governments worldwide restricted travel to stem the ...

Bloomberg EasyJet Plc boosted its cash reserves to ride out the coronavirus pandemic, saying it now has sufficient resources to see it through the end of the year. The shares rose after Britain’s biggest discount airline said it had borrowed 400 million pounds ($500 million) against its jet fleet, and may raise 550 million pounds more from selling planes to ...

Bloomberg VietJet Aviation JSC said it has reached agreements with domestic and international lenders to delay repayments on about 80% of loans for its aircraft purchases after the budget carrier experienced a significant drop in passengers during the novel coronavirus outbreak. The lenders, which include HSBC Holdings PLC and Citibank NA, also agreed to delay repayments for three to 12 ...

Bloomberg Cathay Pacific Airways Ltd expects passenger numbers to stay below 1,000 a day this month compared with the usual 100,000 as it operates at just 3% of normal capacity. The Hong Kong-based airline said it is impossible to predict when demand will improve as the economic impact of the coronavirus pandemic is intensifying. One day this week, Cathay and ...

Bloomberg Virgin Australia Holdings Ltd stock was suspended in Sydney as discussions over a potential financial restructuring for the airline continue. The shares, already halted from trading, will be suspended for as long as seven days so talks centred on financial help and alternative structures can go on, Virgin Australia said in a statement. “These discussions have continued over the ...

Bloomberg Boeing Co lost orders for 150 of its beleaguered 737 Max aircraft last month as travel bookings plunged because of the Covid-19 pandemic, squeezing airlines and aircraft lessors. Half the cancellations were previously announced by Avolon Holdings Ltd, the world’s No. 3 jet lessor. In addition, Brazil’s Gol Linhas Aereas Inteligentes SA trimmed 34 planes from an earlier deal. ...

Bloomberg Delta Air Lines Inc has agreed to sell and lease back aircraft in a deal valued at $1 billion, according to people with knowledge of the matter, as the company steps up efforts to raise cash while talks about US government aid drag on. The carrier will reap $750 million in proceeds from BBAM Aircraft Leasing & Management and ...