Aviation

Bloomberg Eight people were killed after a Lionair plane caught fire before it took off from Manila for Tokyo on a medical mission. The plane was a West Wind 24 aircraft bound for the Haneda airport in Japan with two passengers and six crew members on board, according to Manila airport authorities. Manila International Airport fire and rescue officials rushed ...

Bloomberg Two of the US’s biggest airlines are warning workers that the unprecedented loss of customers may leave both as smaller companies in the future, imperiling the nation’s airline jobs even after the government steps in with billions of dollars to help the industry weather the coronavirus pandemic. Top executives at Delta Air Lines Inc and United Airlines told their ...

Bloomberg Deutsche Lufthansa AG has applied for German subsidies to offset wages of some 31,000 workers that have been idled because the airline has largely grounded its fleet. The so-called Kurzarbeit programme affects cabin crew and ground staff, a spokesman confirmed to Bloomberg News by email. The company is in talks with its pilots union about similar measures, with a ...

Bloomberg Airlines worldwide raised more than $17 billion in bank loans in March to shore up their finances amid the coronavirus outbreak. US carriers were the most active, borrowing $12.5 billion, according to data compiled by Bloomberg. Delta Air Lines Inc is the top borrower this month, obtaining $5.6 billion, followed by Singapore Airlines Ltd, which secured a S$4 billion ...

Bloomberg Seven airlines in Thailand are set to start talks with the Finance Ministry for a 16 billion baht ($491 million) bailout, the Bangkok Post reported. The airlines have jointly agreed to seek help, the newspaper said, citing Tassapon Bijleveld, executive chairman of Asia Aviation Pcl, the largest shareholder of Thai AirAsia. The seven carriers are Thai AirAsia, Thai Lion ...

Bloomberg Southwest Airlines Co is losing “big money” on every flight, raising the risk of worker furloughs in the longer-term despite billions of dollars in immediate aid from the US government. The biggest US discounter is “appreciative” of the package of loans and cash assistance approved by the Senate and awaiting a vote in the House of Representatives, CEO Gary ...

Bloomberg Singapore Airlines (SIA) shares fell after the carrier unveiled a plan to raise about S$8.8 billion ($6.2 billion) to contend with the devastating impact of the coronavirus pandemic. The company will issue S$5.3 billion in new stock at S$3 apiece, 54% lower than the last closing price last week, as well as convertible bonds, according to a statement. State ...

Bloomberg Unable to fill planes with passengers as the coronavirus destroys travel demand, airlines are instead using their fleets to transport more cargo, including medicines, smartphones and Korean strawberries. The likes of Cathay Pacific Airways, Korean Air Lines and American Airlines are hauling a greater amount of goods in the belly of their passenger planes to keep up with demand. ...

Bloomberg US airlines probably will avoid applying for some $25 billion in loans under a federal aid package designed to help them survive the collapse in travel from the new coronavirus, according to JPMorgan Chase & Co. But the carriers will tap a similar amount in cash assistance for payrolls that should eliminate the risk of near-term bankruptcies, JPMorgan analyst ...

Bloomberg Malaysia is exploring the possibility of bailing out domestic airlines that have been hit hard by the coronavirus outbreak, according to people with knowledge of the matter. Officials have been studying ideas including setting up a vehicle to take over the debt of companies like Malaysia Airlines Bhd and AirAsia Group Bhd, the people said. The government is also ...