Aviation

Bloomberg The world is close to running out of space to store all the fuel that jets are no longer burning. Only about 20% of land-based storage for the product remains — about 50 million barrels — while airlines cut flights, according to Vienna-based consultant JBC Energy GmbH. A collapse in air travel due to the coronavirus pandemic has brought ...

Bloomberg Airbus SE withheld its dividend and extended credit lines, lifting liquidity about 50% to 30 billion euros ($32 billion) after the coronavirus pandemic pushed its airline customers to halt flights and stop ordering planes. The European manufacturer also tore up earnings guidance for the year in an announcement on Monday and said its vast supplier network is in dire ...

Bloomberg Arvind Kejriwal, the chief minister of Delhi, declared no flights — domestic or international — will be allowed to land in the Indian capital’s main airport from 6 am on Monday. Hours after that deadline passed, dozens of planes have been operating from the Indira Gandhi International Airport. That’s because PM Narendra Modi’s administration overturned the ban, with the ...

Bloomberg Hong Kong will extend Covid-19 testing to asymptomatic arrivals after a sharp rise in infections driven mainly by imported cases, Chief Executive Carrie Lam said. The government will take other measures, including postponing university entrance exams and ordering civil servants to return to working from home, Lam told the media. The resumption of schools, which have been closed since ...

Bloomberg American Airlines Group Inc is shifting some of its biggest idled jets to ferry just cargo — the carrier’s first flights without passengers in nearly four decades. The Boeing Co 777-300s will fly medical supplies, military mail, e-commerce packages and high-demand office equipment as more people work from home, the airline said in a statement. The wide-body flights began ...

Bloomberg Ethiopian Airlines Group has lost over $190 million as the impact of the coronavirus on global travel hurts Africa’s only consistently profitable airline. “Under the current situation, it is facing huge challenges,” Ethiopian Prime Minister Abiy Ahmed said in a televised address to the public. The carrier has suspended flights to 30 destinations as demand collapses and some countries ...

Bloomberg US airlines are strenuously pushing the Trump administration and Congress for cash grants, arguing behind the scenes that a Senate proposal to hand them billions of dollars in taxpayer-backed loans isn’t sufficient to guarantee their long-term health, two people familiar with the matter said. Industry lobby group Airlines for America had been urging the White House to agree to ...

Bloomberg South African Airways (SAA), the cash-strapped national airline, suspended all flights outside its home country until the end of May after a government travel ban aimed at stopping the transmission of the coronavirus. Routes to New York, London and other global cities were scrapped after President Cyril Ramaphosa declared some of the destinations high risk. The state-owned carrier initially ...

Bloomberg Delta Air Lines Inc is suspending its dividend and share repurchase programme as US carriers seek a $58 billion government bailout. The airline also entered into a $2.6 billion secured credit facility, enhancing liquidity amid a daily cash burn of $50 million as travel demand collapses because of the coronavirus pandemic. The company is also drawing $3 billion under ...

Bloomberg Kenya Airways Plc will cut salaries of executives and staff starting next month to combat a slump in revenue amid the coronavirus pandemic. Chief Executive Officer Allan Kilavuka will take an 80% pay cut, to be reviewed on a monthly basis, while senior management including board members will have their salaries reduced by 75%, according to an internal memo ...