Aviation

Bloomberg US airports are breaking records on construction spending to cash in on a surge in travel while the industry is flush from years of low fuel prices. Airports spent a seasonally adjusted $5.42 billion on construction in May, according to a preliminary estimate released by the US Census Bureau, a 75 percent increase from a revised estimate of $3.1 ...

Bloomberg Airbus SE will miss its delivery target for Pratt & Whitney-powered A320neo narrow-body jets this year, after problems with the engines caused an almost three-month halt in shipments, people familiar with the matter said. The Toulouse, France-based planemaker expects to deliver 30 to 40 fewer of the aircraft than it previously anticipated, according to one of the people, who ...

Bloomberg Competition just got even tougher for Air France-KLM as yet another low-cost operator offers cheap transatlantic flights from Paris, while the Franco-Dutch carrier struggles with a top management void and labour strife. British Airways parent IAG SA started discount links between the French capital and Montreal on Monday through its low-cost arm Level, taking direct aim at Air France-KLM ...

Bloomberg Fastjet Plc dropped 48 percent in London trading after saying it needs to raise further funds to survive as it runs short of cash and losses mount. A cash balance that stood at $7.5 million on May 24 had shrunk to $3.3 million as of June 18 following spending on aircraft, and Fastjet is struggling to access some loan ...

Bloomberg Kenya Airways Plc revived long-shelved plans to expand its network by proposing to buy as many as 10 Boeing Co. 737 Max aircraft as part of a five-year strategy. The move follows three consecutive years of losses caused by a poorly executed expansion strategy and fuel-hedging contracts that saw it miss out on rock-bottom oil prices. The losses forced ...

Bloomberg Ethiopian Airlines Enterprise will reintroduce flights to Eritrea by mid-September, two decades after a border conflict upended relations between the Horn of Africa neighbours. “Ethiopian Airlines get ready because soon you’ll start going to Eritrea and coming back,” PM Abiy Ahmed said in Addis Ababa. “Let us not transfer to our children hatred and the holding of grudges.” Ethiopian ...

Bloomberg Fuel prices are up, the US dollar is rallying and that means stormy skies for Brazilian airlines. Gol Linhas Aereas Inteligentes SA is leading Brazil’s Ibovespa index losses month-to-date, with a 21 percent drop so far. The company is also heading for its biggest quarterly drop since its initial public offering in 2004. Gol and Azul SA are down ...

Bloomberg Indonesia’s Bali airport resumed services after a halt caused by a fresh eruption at the Mount Agung that sent volcanic ashes several miles high into the sky above the popular tourist island. The airport opened at 2.30 pm local time on June 29, according to its twitter feed. The shutdown, the second in seven months, led to cancellation of ...

Bloomberg China Southern Airlines Co. will invest 10 billion yuan ($1.5 billion) in Xiongan, the new city spearheaded by Chinese president Xi Jinping that aspires to be a model for China’s future urban development. The airline operator will allocate 2.5 billion yuan in cash and 7.5 billion yuan in tangible assets to set up a subsidiary called China Southern Airline ...

Bloomberg Buckle up. The Friday before July 4 may approach a record for the busiest day ever for US airports, the head of Transportation Security Administration (TSA) said. Traffic for the day could top 2.6 million passengers, making it “potentially one of the busiest in TSA history,” TSA administrator David Pekoske said. TSA says nine of the top 15 days ...