Aviation

Bloomberg Disruptions at Hong Kong’s international airport drove big gains in shares of airports just over the mainland border. Shenzhen Airport Co soared by the 10 percent daily limit, while Guangzhou Baiyun International Airport Co rose 4.5 percent to a record high. They also rallied, when protests first brought Hong Kong’s airport to a standstill and flights were cancelled. Cathay ...

Bloomberg A federal judge reinforced an order for American Airlines Group Inc mechanics and other airport ramp workers to end an alleged work slowdown the carrier said has had a “devastating effect” on flights during the busy summer travel season. US District Judge John McBryde in Fort Worth, Texas, made permanent an earlier order directing the TWU-IAM Association to stop ...

Bloomberg Cathay Pacific Airways Ltd was cut to a “strong sell” by the investment banking arm of China’s biggest lender, which said the fallout from the anti-Beijing protests in Hong Kong is set to hurt to the airline’s brand. State-run Industrial & Commercial Bank of China Ltd slapped a HK$6 price target on the stock, about a third less than ...

Bloomberg Air Canada boosted its takeover offer for Transat AT by 38 percent, or C$200 million ($151 million), securing support from the tour operator’s largest shareholder in the process. Air Canada said it will raise the bid to C$18 a share from C$13, bringing the value of the all-cash offer to C$720 million. The sweetened offer has the support of ...

Bloomberg Boeing Co is holding workshops with Chinese airlines about the grounded 737 Max plane as it tries to bring the troubled jet back to operation. Boeing invited pilots and engineers from China Southern Airlines Co to a gathering in Guangzhou, according to an emailed statement from Boeing. More such workshops will be held with Air China, China Eastern Airlines, ...

Bloomberg American Airlines will pay $90 million over 10 years to sponsor the new home of the NFL’s Rams and Chargers, becoming the first official partner for billionaire Stan Kroenke’s new Los Angeles Stadium. American Airlines agreed to sponsor the 2.5-acre space that serves as main entrance to the $5 billion Inglewood, California, stadium, which doesn’t have a naming-rights partner ...

Bloomberg Cathay Pacific Airways said geopolitical and trade tensions are likely to damage the business after the airline rebounded to a profit in the first half. Protests in Hong Kong cut inbound passenger traffic in July and are “adversely” affecting bookings, Cathay said in a statement Wednesday. First-half net income was $172 million compared with a year-ago loss of HK$263 ...

Geneva / Emirates Business The International Air Transport Association (IATA) released data for global air freight markets showing that demand, measured in freight tonne kilometres (FTKs), decreased by 4.8 percent in June 2019, compared to the same period in 2018. This marks the eighth consecutive month of year-on-year decline in freight volumes. Signs of a modest recovery in recent months ...

Bloomberg Rolls-Royce Holdings Plc’s cash outflow ballooned in the first half as a bottleneck in plane deliveries at Airbus SE and Boeing Co reduced engine revenue and stockpiling for a no-deal Brexit led to a buildup of parts. Europe’s biggest jet-engine maker posted negative underlying free cash flow of $522 million for the six months, almost six times the level ...

NEW DELHI / WAM The major airport in the Indian capital will be equipped to handle 100 million passengers per annum (MPPA) in the next three years, ANI reported. The expansion works of Indira Gandhi International (IGI) Airport will also enhance the airside capacity to handle 140 MPPA. In the last decade, the Air Traffic Movements and passenger numbers have ...