Aviation

Hong Kong’s airlines facing job cuts, even bankruptcies

Bloomberg Hong Kong’s airlines face the prospect of further job cuts and even bankruptcies as anti-Beijing protests continue to deter tourists from the city, adding to the pressure on an industry already facing headwinds globally. Six months of anti-Beijing demonstrations have sent passenger traffic tumbling in Hong Kong, producing a cascade of profit warnings, flight cancellations and cost cuts at ...

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Southwest extends 737 Max cancellations until mid-April

Bloomberg Southwest Airlines Co. won’t schedule any flights on Boeing Co.’s 737 Max jets until April 13 — more than a month later than previously planned — further clouding the outlook for the best-selling aircraft that’s grounded globally after two fatal crashes. The airline, the biggest operator of the single-aisle jet, is extending the timeline from March 6 because of ...

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Airlines are scrambling for Airbus jets Made in America

Bloomberg For US airlines, the phrase “Made in America” comes with a whole new financial imperative thanks to the trade fight between the Trump administration and Europe. In October, the White House levied a 10% tariff on European-built aircraft as part of a broader conflict over aviation industry subsidies. The move followed a World Trade Organisation ruling that EU assistance ...

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Boeing halt on 737 output to add more stress on airlines

Bloomberg Airlines could come under further financial pressure should Boeing Co. go ahead with a production halt of the grounded 737 Max, with any prolonged delays in jet deliveries raising their operating costs. Carriers are paying higher rates to lease planes to make up for the loss in capacity, while delays to their expansion plans are holding back revenue growth, ...

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7 Hong Kong Airlines planes seized after missed payments

Bloomberg Embattled Hong Kong Airlines had seven of its planes seized by the city’s Airport Authority after it failed to make some payments, deepening concerns about the future of a carrier whose financial difficulties nearly cost it its flying license. The seizure was made in accordance to the Airport Authority Ordinance, the government body said in an email on Tuesday, ...

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Harbour Air’s electric aircraft flight heralds fossil-free flight

Bloomberg Vancouver-based Harbour Air just flew an all-electric commercial aircraft—for five minutes. The neon green and indigo blue seaplane took off from the Fraser River in Richmond, British Columbia as a small crowd cheered from the dock. The propeller aircraft, a six-passenger de Havilland DHC-2 Beaver prototype, was powered by a magniX magni500 electric motor and piloted by Harbour Air ...

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$300,000 pilot jobs drying up in China after Boeing grounding

Bloomberg Expatriate pilots flying Boeing Co.’s most popular plane for Chinese airlines used to be able to take their pick from dozens of jobs paying $300,000 plus perks thanks to a shortage of experienced aviators there. The grounding of the 737 Max has changed that. Chinese carriers have largely stopped hiring foreign pilots for Boeing’s main narrow-bodied jet, nine months ...

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Switzerland to send its old jets back to US

Bloomberg The US is expected to buy 22 aging fighter jets from Switzerland, a country that’s struggling to modernise its own air force. US Navy representatives and the Swiss defense procurement agency, known as Armasuisse, discussed the deal in July, an agency spokesman said by email. The contract is expected to be signed once US lawmakers approve the fiscal 2020 ...

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Finnair CEO sees cash flow funding $4.5billion fleet plan

Bloomberg Finland’s national carrier Finnair Oyj is starting its next big round of investments: as much as 4 billion euros ($4.5 billion) on modernising and expanding its narrow-body fleet of aircraft to fly between European cities. The investment comes on top of 2 billion euros spent over the past five years on transforming Finnair’s long-haul fleet to boost fuel efficiency, ...

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Slowing world economy eroding airline earnings

Bloomberg Airline industry profits will come in lower than forecast this year as passenger numbers and cargo volumes are held back by slowing economic growth and global trade wars, the International Air Transport Association (IATA) said. With less than a month left in 2019, the trade body has lowered its annual profit estimate to $25.9 billion — $2.1 billion less ...

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