Aviation

Bloomberg Optimism over a travel boom in southern China has fueled a surge in shares of China’s third-biggest airport. But some analysts say the rally in Shanghai-listed Guangzhou Baiyun International Airport Co. will probably run out of steam soon. Baiyun Airport has gained 25 percent this year, outperforming a 20 increase in the broader A-share market. It was mainly fueled ...

Bloomberg Italian Finance Minister Giovanni Tria cautioned that the Treasury will consider taking a stake in struggling airline Alitalia SpA only if talks between potential investors produce a strong business plan. Speaking to lawmakers in the lower house of parliament, Tria confirmed that talks are underway involving Delta Air Lines Inc. and UK discounter EasyJet Plc, with state rail operator ...

Bloomberg An Atlas Air cargo plane with three people aboard plunged out of the sky and crashed into a Texas bay as it was preparing to land in Houston. The Boeing Co. 767-300, which had departed from Miami, lost radio contact about 30 miles (48 kilometers) from George Bush Intercontinental Airport in Houston, the Federal Aviation Administration said. It fell ...

Bloomberg Cathay Pacific Airways Ltd. forecast an end to a record two-year run of losses after job cuts and better service offerings in an overhaul kicked off by Asia’s biggest international carrier start to yield results. The Hong Kong-based airline expects to announce next month a profit for 2018, helped in part by a strong cargo business and growth from ...

Bloomberg Buyout firm Warburg Pincus is considering a sale of Consolidated Precision Products Corp. that could value the aerospace parts manufacturer at more than $2 billion, according to people with knowledge of the matter. Cleveland-based CPP is working with an adviser to examine strategic options including the possibility of a sale in the second half of the year, said the ...

Bloomberg Southwest Airlines Co. slid after warning that the US government shutdown hit sales harder than previously estimated. The political stalemate that ended last month will reduce first-quarter revenue by $60 million as the aftereffects lingered on, Southwest said in a regulatory filing. When the discounter reported earnings late last month, it estimated the impact would be $10 million to ...

Bloomberg In the world of multibillion dollar defense contracts, India stands out. Home to one of the biggest armed forces on the planet, the country has an uneasy co-existence with neighbours Pakistan and China. Its rapidly aging fighter jets make it a lucrative potential prize for the likes of Lockheed Martin Corp. and Boeing Co. While India wants to upgrade ...

Bloomberg Britain will impose a 5 kilometer (3.1 mile) drone exclusion zone around its runways as the government responds to illegal incursions that closed London Gatwick airport for 36 hours in December, disrupting travel for more than 120,000 people. The measures, taking effect March 13, extend the current 1-kilometer no-fly zone for unmanned and model aircraft, the Department for Transport ...

Bloomberg Air France-KLM Group’s French pilots approved a pay deal, putting an end to last year’s labour conflict and handing Chief Executive Officer Ben Smith more freedom to define his new strategy. The accord, hammered out during months of talks between management and unions, was approved by 85 percent of pilots, the SNPL union said in a phone message. It ...

Bloomberg Southwest Airlines Co. said it would investigate the cause of an operational emergency that’s seen an “unprecedented number” of aircraft taken out of service for mechanical issues, and indicated the groundings may be related to ongoing contract talks with a labour union. The disruptions started February 12, days after the airline’s last contract talks with the Aircraft Mechanics Fraternal ...