Aviation

Ryanair wins EU fight over pandemic aid for Air France-KLM

BLOOMBERG Ryanair Holdings Plc won European Union (EU) court challenges against billions of euros of state aid for rival Air France-KLM, in the latest round of the Irish carrier’s campaign against allegedly unfair subsidies doled out during the Covid-19 pandemic. The EU’s General Court annulled the bloc’s formal approvals for the aid, saying regulators failed to vet the potential impact ...

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Southwest pilots to vote on contract for 50% raise

BLOOMBERG Southwest Airlines Co pilots will vote next month on a proposed new contract that would boost pay 50% over the five-year term of the deal and could end a multiyear round of negotiations and protests at the four largest US carriers. The board of the Southwest Airlines Pilots Association decided to send the agreement to its roughly 11,000 pilots ...

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Airline Shopping Spree Hands Airbus, Boeing Big Year of Orders

BLOOMBERG Airbus SE and Boeing Co are rounding out the year with a flurry of major orders, smashing records in one of the most active purchasing periods in recent memory that stretches their production lines well into the next decade. Deutsche Lufthansa AG said it ordered as many as 200 short-haul aircraft from the two manufacturers, in a deal the ...

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Revival of winter travel turns jet fuel into oil’s bright spot

BLOOMBERG Soaring demand for travel this winter is boosting refiners’ margins for making jet fuel in Asia, providing a bright spot for the oil market even as the outlook for other transport fuels weakens. The post-pandemic recovery of air travel is gaining pace in China and India, while the US is expecting to see record travel demand during the holiday ...

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Tennessee-based FedEx profit falls below expectations on drop in air, truck cargo

BLOOMBERG FedEx Corp reported profit below analyst expectations as cost cuts weren’t enough to make up for volume declines at the air-freight unit amid a lingering cargo recession. The company lowered its sales forecast for the fiscal year ending on May 31. Adjusted earnings were $3.99 a share, the Memphis, Tennessee-based company said in a statement. Analysts had expected $4.19. ...

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SpiceJet considers buying grounded Indian carrier Go Air

BLOOMBERG Shortly after reporting a quarterly loss, SpiceJet Ltd has announced it is considering acquiring the insolvent Go Airlines India Ltd, which stopped flying in May, with a goal of possibly combining the two airlines. The no-frills carrier is planning to submit an offer after conducting due diligence of Go, it said in a stock exchange filing on Tuesday. SpiceJet ...

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US fines Southwest Airlines $140mn after 2022 meltdown

BLOOMBERG The US Department of Transportation (DOT) fined Southwest Airlines Co $140 million for violating consumer protection laws, nearly a year after a late December meltdown of its operations during a storm stranded more than 2 million passengers. The DOT said the penalty is 30 times larger than any other consumer protection violation fine it’s issued. Most of the money ...

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China shows off its C919 passenger jet with flyby of Hong Kong’s Victoria harbour

BLOOMBERG China displayed its aircraft-manufacturing credentials by conducting a flyby of Hong Kong’s Victoria Harbour with a domestically made passenger plane designed to take on Airbus SE and Boeing Co narrowbodies. Commercial Aircraft Corp of China Ltd, the official name of planemaker Comac, flew its C919 jet around the harbor in two loops on Saturday morning, going as low as ...

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