Aviation

US set to hit EU with $7.5b Airbus sanction

Bloomberg The World Trade Organization on on Monday formally authorised the US to impose tariffs on about $7.5 billion worth of European exports annually in retaliation for illegal government aid to Airbus. Members approved this month’s arbitration award — the largest in the trade organisation’s history — at a special meeting of the dispute settlement body at the WTO’s headquarters ...

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Bamboo Airways expects $1b market cap at listing

Bloomberg Vietnam’s Bamboo Airways expects a market capitalisation of as much as $1 billion at its planned listing in the first quarter next year. The startup carrier plans to list about 400 million shares on either the Ho Chi Minh City Stock Exchange or Hanoi Stock Exchange as early as January, Deputy Chief Executive Officer Nguyen Khac Hai said in ...

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United Airlines follows US carriers in pulling Boeing Max until 2020

Bloomberg United Airlines Holdings Inc gave up on carrying passengers on Boeing Co’s 737 Max this year, removing the grounded jet from its schedule until January 6. The carrier, which had previously pulled the aircraft until Decmber 19, is cancelling more than 8,000 flights from October through early January as its 14 Max aircraft remain banned from flying. Boeing’s best-selling ...

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Boeing strips CEO of chairman job over 737 Max crisis

Bloomberg Boeing Co stripped Chief Executive Officer Dennis Muilenburg of his role as chairman, leaving him little margin for error in his final push to resolve the crisis engulfing the company’s 737 Max jetliner. Separating the CEO and chairman roles will let Muilenburg focus on getting the grounded jet back in the air, Boeing said in a statement. While the ...

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UK plans law to allow failed airlines to fly passengers home

Bloomberg Following the collapse of travel company Thomas Cook Group Plc, the UK government plans to change the law to allow failed airlines to keep flying in order to rescue stranded passengers. The tour operator’s bankruptcy last month forced the Civil Aviation Authority to deploy more than 150 planes to bring home 140,000 people, an airlift that cost about twice ...

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Cracks found on 5% of older Boeing 737 jets in inspections

Bloomberg More than 5% of older Boeing Co 737 jets that underwent urgent inspections worldwide have cracks in a structure connecting the wings to the fuselage and will have to be temporarily grounded. So far, 36 of the workhorse Next Generation models have evidence of cracking out of 686 that have been inspected, Boeing said in an email providing updated ...

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Thomas Cook can thrive without airline costs, says Hays Travel

Bloomberg Hays Travel Ltd, the UK booking agent that’s buying 555 shops from Thomas Cook Group Plc, said the stores can turn profitable without the hefty airline costs that helped bring down the 178-year-old tour operator. Hays will add the outlets to its existing 190 shops to expand a business that’s more online-focussed than Thomas Cook was, founder and Managing ...

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Boeing invests $20m in Virgin Galactic’s space travel program

Bloomberg Boeing Co agreed to invest $20 million for a minority stake in Virgin Galactic, a startup that is preparing to fly its customers into space next year. The relationship is designed as a collaboration aimed at shaping the future of human space travel, the companies said in a statement. Virgin Galactic also is setting longer-term sights on shuttling airline ...

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Lion Air joins record rush of Indonesian firms planning IPOs

Bloomberg Indonesia’s largest private airline is among the more than two dozen local companies planning to sell shares for the first time as investors overlook a selloff in the broader market to lap up stocks from initial public offers. PT Lion Mentari Airlines, miners PT Ginting Jaya Energi, PT Dana Brata Luhur and PT Ifishdeco and developer PT Alamanda Investama ...

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Airline seatback screens may be ‘endangered species’

Bloomberg In the quest to command higher fares and traveler loyalty, airlines are constantly scrambling to market their onboard services as better than Brand X. These days, one highly visible battleground is directly in front of you: the seatback screen. While such displays are firmly entrenched aboard long-haul fleets, helping pass the hours during ocean crossings, there’s a deep difference ...

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