Aviation

Bloomberg Chinese airlines seeking compensation from Boeing Co said the grounding of its 737 Max jet is on track to result in losses of more than $500 million for the carriers. The airlines could lose 4 billion yuan ($580 million) if the suspension lasts through June, Liu Shuguo, secretary general of the China Air Transport Association, said at a briefing ...

Bloomberg Air New Zealand Ltd agreed to buy eight Boeing Co 787-10 aircraft, worth $2.7 billion at list prices, to replace and upgrade its long-haul fleet. The Auckland-based airline also has an option to buy as many as 12 additional 787-10 aircraft, according to a statement released on Monday. The company said it has negotiated a “significant discount” to the ...

Bloomberg Kenya Airways Chief Executive Officer Sebastian Mikosz will step down from the troubled state airline five months before the end of his three-year contract, according to a staff memo seen by Bloomberg. “I have made the decision to shorten my contract term and I have decided to resign on personal grounds effective from December 31,” Mikosz said in the ...

Bloomberg The US Securities and Exchange Commission (SEC) is investigating whether Boeing Co properly disclosed issues tied to the grounded 737 Max jetliner, according to people familiar with the matter, as regulators intensify their scrutiny of the company following two deadly crashes. Officials in the SEC’s enforcement division are examining whether Boeing was adequately forthcoming to shareholders about material problems ...

Bloomberg Flights to and from Indonesia’s Bali island have returned to normal, allowing the resort island to continue welcoming tourists, after a volcanic eruption. Airlines resumed flights to and from the I Gusti Ngurah Rai Airport on Saturday, Polana Pramesti, director general of civil aviation, said in a text message on Sunday. Several flights were cancelled after the Mount Agung ...

Bloomberg United Continental Holdings Inc is seeking to oust Avianca Holdings SA’s chairman and largest shareholder, just six months after the two airlines agreed to form a joint venture. The Colombian carrier’s stock jumped the most in nearly three years. The US airline took legal action in Bogota on a defaulted $456 million loan it made to Avianca Chairman German ...

Bloomberg Indonesia cancelled flights to and from the nation’s main resort island of Bali after the Mt Agung volcano erupted late on May 24. “Currently flights to and from I Gusti Ngurah Rai Airport have been cancelled.” Polana Pramesti, director general of civil aviation, said on the ministry’s Twitter page. “We will continue to update the latest condition on the ...

Bloomberg US aviation regulators won’t be rushed and have no timeline on when to return Boeing Co’s grounded 737 Max jet to flight, an official said as the government prepares to hold discussions with dozens of other nations on the plane’s fate. Federal Aviation Administration acting chief Daniel Elwell said the agency’s technical experts will leave “no stone unturned” as ...

Bloomberg Airbus SE will enhance the capabilities of the A220 single-aisle jet it acquired last year from Bombardier Inc in a bid to challenge Boeing Co by opening up potential new routes. Airbus will boost the range of the former C Series plane by about 450 nautical miles, sales chief Christian Scherer said in a briefing at the European planemaker’s ...

Bloomberg Southwest Airlines Co mechanics approved a new contract that provides pay increases and a retroactive bonus, closing out more than six years of negotiations that included a lawsuit and an alleged worker slowdown. The five-year agreement won 95 percent support from the Aircraft Mechanics Fraternal Association (AMFA), the union said. About 94 percent of eligible voters participated. The approval ...