Aviation

Bloomberg Airbus SE slashed its aircraft output by a third in a stark concession to the coronavirus pandemic that’s upended the aviation industry. The world’s biggest commercial aircraft manufacturer now plans to produce about 48 planes a month across its A320, A330 and A350 programs, it said in a statement. It had gone into the year with a goal of …

Bloomberg Air France-KLM has asked the French state for an immediate cash injection to help the troubled carrier stay afloat in the next four to five months, according to Les Echos newspaper. The cash injection, which could represent “many billions” of euros, would come on top of state-backed loans worth about 6 billion euros ($6.5 billion) the company is currently …

Bloomberg The Australian government is in contact with Virgin Australia Holdings Ltd management and wants to make sure there is a competitive airline industry when people are allowed to start travelling again after the coronavirus pandemic. Australian travellers are not expected to be able to head overseas until at least the end of this year, although there may be easing …

Bloomberg The coronavirus pandemic has brought the global aviation industry to its knees, and African carriers are particularly vulnerable as they seek assistance from governments already facing constrained finances. Ethiopian Airlines Group, South African Airways and Kenya Airways are among national airlines staring at mounting losses and the destruction of growth plans put in place before the Covid-19 outbreak. African …

Bloomberg The European Commission approved measures from Belgium and Sweden to help the airline industry as it struggles to weather the economic fallout from the coronavirus. It gave antitrust clearance to Sweden’s 455 million euro ($497 million) loan-guarantee scheme to support airlines that hold the nation’s commercial aviation license at least as of January 1. It also welcomed a Belgian …

Bloomberg The Trump administration wants the 12 largest US airlines to repay a portion of the federal grants they receive to cover their payrolls during the coronavirus crisis. The large carriers, which are set to receive more than $100 million in payroll assistance, are being offered aid packages that would require them to repay 30% of the grants through low-interest …

Bloomberg FedEx Corp is redeploying aircraft it mothballed earlier this year and plans to add 150 flights over the next month to ferry masks, protective suits and other healthcare supplies to the US from Asia. The activity adds to the usual seven to nine daily flights across the Pacific, said Richard Smith, chief of FedEx Express operations in the Americas …

Bloomberg EasyJet Plc deferred the delivery of 24 Airbus SE A320-family jets that were due to arrive over the next three years as the carrier moves to protect cash amid the coronavirus pandemic. The handovers will be postponed to an undetermined date, the British low-cost airline said in a statement. The moves will significantly reduce the low-cost airline’s capital expenses …

Bloomberg As Covid-19 cases began exploding last month, Quinton Martins thought he was doing the prudent thing by canceling a flight to Mexico for a planned vacation with his wife and daughter. But the Northern California man didn’t realise that by doing so he gave up the right to a refund from Alaska Air — even though taking the trip …

Bloomberg British Airways (BA) has become the first major European carrier to lose its investment grade status amid the Covid-19 pandemic after Fitch cut its credit rating one notch. The flagship British company is unlikely to recover its end-2019 capacity level until 2023, according to Fitch’s baseline forecast. The ratings agency also put the company on negative outlook, reflecting the …