Aviation

Bloomberg A financing platform under HNA Group Co. is offering investors air tickets rather than cash as repayment, the latest sign of the financial stress the Chinese conglomerate is under despite a slew of asset sales. Shenzhen-based Qianhai Air & Shipping Exchange that sells wealth management products to retail investors online, is offering tickets from Hainan Airlines or Grand China ...

Bloomberg Flybe Group Plc has begun takeover discussions with several parties as the rising cost of oil crimps earnings at Britain’s biggest provider of domestic flights and the company faces increasing financial stress. The Exeter, England-based carrier is in talks with “a number of strategic operators about a potential sale,” it said in a statement, without naming them. The stock ...

Bloomberg Reeling from the world’s worst airline hack that exposed personal data of 9.4 million passengers, Cathay Pacific Airways Ltd. is seeking to regain customer trust with “exciting offers” including better in-flight dining and entertainment. The marquee carrier is attempting to soothe angry customers by promising better services on board after coming under fire for the seven-month delay in disclosing ...

Bloomberg Two US pilots’ unions say the potential risks of a safety feature on Boeing Co.’s 737 Max aircraft that has been linked to a deadly crash in Indonesia weren’t sufficiently spelled out in their manuals or training. Boeing and the Federal Aviation Administration issued directives telling flight crews about the system, which is designed to provide extra protection against ...

Bloomberg Tata Group is conducting due diligence on Jet Airways India Ltd., as the conglomerate looks to expand its footprint in the country’s growing air travel sector by potentially buying a stake in the cash-strapped carrier, according to people familiar with the matter. The talks are still in their early stages and there’s no certainty they would result in a ...

Bloomberg Cathay Pacific Airways Ltd., which is under fire for the world’s biggest airline data breach, said the sophisticated attacks lasted months as it took steps to shield its exposed computer network. The attacks were most intense March through May and continued, Asia’s biggest airline said in a written submission to Hong Kong’s legislature before a panel hearing this week. ...

Bloomberg Singapore Airlines Ltd. reported an 81 percent plunge in second-quarter profit as higher fuel costs weighed on earnings. Net income for the three months through September fell to S$56.4 million ($41 million) from S$293.3 million a year earlier. Sales rose 5.6 percent to S$4.06 billion. The premium Asian carrier joins others such as Deutsche Lufthansa AG and Air China ...

Bloomberg Options traders who bet against Zurich airport have booked a 10,000 percent windfall as proposed modifications to aviation charges send shares of the hub tumbling. Flughafen Zurich AG, as the airport company is known, dropped the most since 2003 after saying measures unveiled by the national regulator would reduce its aviation revenue by $148 million or 25 percent. The ...

Bloomberg Jet Airways India Ltd. saw both current- and non-current liabilities surge in the second quarter, after intense competition and low fares led to its third consecutive quarterly loss. Current liabilities rose to 160 billion rupees ($2.2 billion) as of September 30, compared with 142 billion rupees as of March 31, while non-current liabilities jumped 30 percent during the same ...

Bloomberg South African Airways could sell shares to public as the state-owned carrier seeks ways to end years of losses and reduce the need for bailouts, according to people familiar with the matter. The move would enable the government to cut its stake in much the same way as it did with former phone monopoly Telkom SA SOC Ltd. almost ...