Aviation

BLOOMBERG Feeling the pinch of airfare inflation? JetBlue Airways Corp announced an expansion of its transatlantic service with daily nonstop, round-trip flights from New York City to Paris beginning on June 29, 2023. Main cabin fares start at $479, a price tag that’s roughly 60% lower than similar overnight departures on Delta Air Lines Inc and American Airlines Group Inc. ...

BLOOMBERG Cathay Pacific Airways Ltd posted an annual operating profit for the first time since 2019, after Hong Kong opened for quarantine-free travel again following more than two years of Covid restrictions. Operating profit in 2022 was HK$3.55 billion ($452 million), comfortably beating the HK$2.87 billion average estimate from analysts. Revenue grew 12% to HK$51.04 billion, Hong Kong’s main airline ...

BLOOMBERG The US Justice Department and Department of Transportation were expected to take action as soon as Tuesday to block JetBlue Airways Corp’s $3.8 billion takeover of Spirit Airlines Inc, according to people familiar with the case. The Justice Department is expected to file an antitrust lawsuit in federal court, alleging that the elimination of Spirit would increase ticket prices ...

BLOOMBERG Brazil’s battered airlines got some relief after striking agreements that eased investors’ concern over their liquidity amid deteriorating credit conditions in their home market. Azul SA’s American depositary receipts closed 41% higher at $5.85 in New York, the most on record, and bonds due in 2026 climbed 16 cents to 67.5 cents on the dollar. The moves follow an ...

BLOOMBERG KLM NV and several other airlines are going to court to challenge the Dutch government’s decision to reduce flight capacity at Amsterdam’s Schiphol airport. Delta Air Lines Inc and EasyJet Plc are among airlines joining forces with the Dutch arm of Air France-KLM, which accounts for close to 60% of traffic at Schiphol, to “safeguard the future capacity” of ...

BLOOMBERG Deutsche Lufthansa AG joined major European airline companies in predicting an earnings boost this year as travel demand continues to swing back from the coronavirus pandemic. The region’s biggest airline group said it expects a “significant improvement” on the €1.5 billion ($1.6 billion) adjusted earnings before interest and taxes result it reported for 2022. Summer vacations to Mediterranean countries ...

BLOOMBERG Hong Kong’s newest carrier Greater Bay Airlines Co ordered 15 Boeing Co 737-9 Max jets and committed to five 787s as it looks to rapidly expand its network. The Max order is worth around $785 million, according to figures from aircraft appraiser Avitas Inc, while the five Dreamliners are worth $722 million, based on the 787-9 model and factoring ...

BLOOMBERG Delta Air Lines Inc pilots approved a new contract that will provide at least 34% in cumulative pay hikes over four years, making them the first aviators at a major US carrier to finalise a post-pandemic deal. The agreement was endorsed by 78% of those casting ballots, the Air Line Pilots Association said in a statement. A separate agreement ...

BLOOMBERG India is looking to partner with global aircraft manufacturers, including Embraer SA and Russia’s Sukhoi, to make small planes locally as it seeks to improve connectivity in tiny towns and far-flung areas, according to people familiar with the matter. The government will keep 51% equity with an Indian company, while asking the foreign partner to do technology transfer, the ...

BLOOMBERG Qantas Airways Ltd plans to hire 8,500 more workers in the next decade, about the same number it cut during the pandemic, underscoring aviation’s growth trajectory less than a year after the crisis. The additional roles include pilots, cabin crew and airport staff. With potentially more than 300 new aircraft arriving in the next 10 years, Qantas also plans ...