Aviation

Bloomberg Deutsche Lufthansa AG is scaling back its fleet and closing the Germanwings discount arm to resize the airline group for depressed levels of travel that could last for years after the coronavirus crisis passes. The German flag-carrier will reduce capacity at its hubs in Frankfurt and Munich, retiring 18 wide-body aircraft including six Airbus SE A380 double-deckers that were ...

Bloomberg The crowd outside Wuhan’s Tianhe International Airport on Wednesday pushed forward as anxiety grew over catching their flights out of town — the first to depart since January 23. Many were people who had come to the central Chinese city for a Lunar New Year vacation in January and found themselves stuck in a protracted, nightmarish stay as the ...

Bloomberg Hong Kong’s Airport Authority is in talks with banks for a HK$20 billion ($2.6 billion) loan to help fund the city’s third runway, according to people familiar with the matter. The five-year facility, which is also meant for general corporate purposes, offers an interest margin of 72 basis points over the Hong Kong interbank offered rate and a top-level ...

Bloomberg Boeing Co has identified two new software problems with the grounded 737 Max that must be fixed before the jetliner can carry passengers again. The issues involve the flight-control computer and don’t affect the plane’s estimated return to service in mid-2020, Boeing said. The Max’s software has been undergoing a redesign after being linked to two fatal crashes that ...

Bloomberg The federal government ordered airlines accepting financial aid to maintain minimal service levels to cities they served before the Covid-19 pandemic ravaged the transportation system, but made adjustments for low-cost carriers and those that fly to some destinations only part of the year. The US Department of Transportation eased some requirements it made in a proposal after airlines and ...

Bloomberg The most dramatic contraction in civil aviation history poses a challenge for Airbus SE in how to balance its response. Factories that churned out aircraft in record numbers before the coronavirus crisis face an unprecedented production cut. But retreating too far risks leaving the company wrong-footed in a rebound and diluting its advantage over Boeing Co. Airbus warned last ...

Bloomberg EasyJet Plc borrowed 1.1 billion pounds ($1.35 billion) to shore up its finances during the coronavirus pandemic, tapping into a UK guarantee programme in defiance of founder Stelios Haji-Ioannou’s escalating activist campaign. The UK discount carrier accessed 600 million pounds in Bank of England-backed commercial paper and requested to draw down 500 million pounds from an existing facility that’s ...

Bloomberg American Airlines Group slashes daily flights from New York-area airports by 95%, joining United Airlines Holdings Inc in eliminating most operations in the nation’s largest city as the increase in Covid-19 cases guts travel demand. Daily departures from New York’s LaGuardia airport tumbled to eight from Tuesday through May 6, with a drop to three at John F Kennedy ...

Bloomberg Ryanair Holdings Plc predicted a 300 million-euro ($325 million) hit for the fiscal year that just ended because of costs arising from fuel hedges. Before the extra costs, profit for the year ended on March 31 will come in as low as 950 million euros, the bottom end of its previous estimate, the Irish low-cost carrier said. With its ...

Bloomberg House Speaker Nancy Pelosi and Senate Democratic leader Chuck Schumer urged the Treasury Department to move more quickly to help airlines to save industry jobs and refrain from imposing “unreasonable conditions” that might spur some carriers to decline payroll assistance. In a letter to Treasury Secretary Steven Mnuchin, Pelosi and Schumer stressed that provisions of the $2.2 trillion stimulus ...