Aviation

BLOOMBERG Reaction Engines Ltd, a UK company behind a rocket engine designed for hypersonic flight that is backed by industry heavyweights such as Boeing Co, is examining ways to cut costs to delay asking shareholders for more funds. The company, which has raised more than £150 million ($191 million) from investors, will run out of cash by the end of ...

BLOOMBERG Boeing Co Chief Executive Officer Dave Calhoun fought back tears as he said the planemaker must own up to its shortcomings, underscoring the stakes of a safety incident that’s renewing questions over the quality of its manufacturing. “We’re going to approach this — No. 1 — acknowledging our mistake,” Calhoun told Boeing employees during a companywide meeting at its ...

BLOOMBERG Alaska Airlines will “initiate and enhance” its own quality control checks on the production of its planes, in addition to Federal Aviation Administration’s (FAA) review and oversight of the process after an accident on a Boeing Co 737 Max 9 jet this month. The carrier said it met with Boeing’s chief executive officer and leadership team in recent days ...

BLOOMBERG The grounding of Boeing Co’s 737 Max 9 quickly gathered pace, with carriers from the US to Panama to Turkey pulling the model from service for inspections after a fuselage section on a brand-new Alaska Airlines jet blew out during flight. After Alaska Air kept its fleet of 65 737 Max 9s on the ground following the incident on ...

BLOOMBERG Cathay Pacific is reducing its schedule on average by 12 flights a day through to the end of February in an effort to avoid disruptions over the peak lunar new year travel period, the company said on Sunday. “We have taken measures to ensure Cathay Pacific’s flights will operate normally for the coming Chinese New Year travel peak,” Chief ...

BLOOMBERG Eight new Thai airlines are set to start operations as the tourism-reliant nation expects a sustained recovery in leisure travel to draw about 35 million foreign visitors this year. Really Cool Airlines, which plans to offer scheduled services on medium-to-long haul international routes, is among the companies which have won Transport Minister Suriya Jungrungreangkit’s approval for operator licenses, according ...

BLOOMBERG All 379 people aboard a Japan Airlines Co flight managed to escape after the Airbus jetliner burst into flames following a collision with a smaller plane as it landed at Haneda Airport in Tokyo, while most of the crew aboard the other aircraft were killed. Passengers and crew were safely evacuated from the Airbus SE A350-900, an airline spokesperson ...

BLOOMBERG The Airport Authority Hong Kong is offering its first-ever local currency public bond, pricing a HK$4 billion ($512 million) debt deal as passenger traffic recovers at the financial hub. The 3.5-year bond has been priced to yield 3.83%, according to a person familiar with the matter. The proceeds will be used for the airport’s capital expenditure, including plans for ...

BLOOMBERG Cathay Pacific Airways Ltd is seeking proposals from Airbus SE and Boeing Co for new aircraft to replace some of its older mid-sized widebody jets, rounding off the Hong Kong carrier’s biggest buying spree in a decade. “We are evaluating options for a versatile, mid-sized widebody aircraft that can undertake a range of missions and grow our passenger and ...

BLOOMBERG If your New Year’s resolution includes flying the most punctual airlines—in addition to choosing the best airports—the 2023 annual on-time performance results from Cirium, published on January 2, should help. The aviation analytics company studies data on more than 35 million flights a year, including schedules, airline fleets and airports, to deliver insights on the aviation industry at large. ...