Aviation

Bloomberg US airline investors, already absorbing the worst monthly stock performance in a year, are bracing for more disappointment. A Standard & Poor’s index of the five biggest US airlines plunged 7.5 percent in August, wiping out about $10 billion in market value. Shares fell as a price war that started between United Continental Holdings Inc. and heavy discounters spread ...

Reuters A German businessman joined the field of potential bidders for insolvent Air Berlin, proposing to focus on only a few routes to holiday destinations. Air Berlin, Germany’s second-largest airline, filed for bankruptcy protection in August after shareholder Etihad Airways withdrew funding following years of losses. Now the carrier is to be carved up, most likely among several buyers, with ...

Bloomberg Sweden’s Saab AB offered to build its Gripen warplanes in India with billionaire Gautam Adani’s conglomerate as a partner, stepping up efforts to win a potential $25 billion contract that could be the world’s biggest fighter-jet order in play. The collaboration with the Indian partner would include design, development and production of the Gripen aircraft for the South Asian ...

Bloomberg The chief executive officer-elect of South African Airways is making it his first priority to convince banks that the state-owned carrier’s new leadership is committed to stemming five straight years of losses and repaying its debt. Lenders and other stakeholders need to be assured that “there is a plan that is plausible for SAA,” Vuyani Jarana said in an ...

Bloomberg Southwest Airlines Co. resumed commercial service to Houston in the wake of flooding caused by Hurricane Harvey, landing its first passenger flight at William P. Hobby airport, according to tracking website lightAware.com. That puts Southwest behind United Continental Holdings Inc. and American Airlines Group Inc., which started limited service late last week at Houston’s George Bush Intercontinental Airport. Since ...

Bloomberg Ryanair Holdings Plc plans to bid for Alitalia SpA, which has filed for bankruptcy, and will keep the Italian company intact if it’s successful, according to Chief Executive Officer Michael O’Leary. Europe’s biggest discount airline is prepared to take over Alitalia’s long-haul arm as well as a short-haul unit that parallels its own operations, O’Leary said. Most of the ...

Bloomberg A price battle between United Airlines and heavy discounters is spreading to other US carriers, threatening to derail the industry’s nascent recovery in pricing power. Competition that heated up this summer in United’s hub cities of Houston, Chicago and Newark, New Jersey, has extended to American Airlines in Dallas and to other carriers, airline executives said. Passenger revenue for ...

Bloomberg Bird Group, an aviation and hospitality company, said it is interested in bidding for the ground handling division of Air India Ltd., the state-owned flag carrier the government is planning to sell in full or part. The New Delhi-based group has written to the Ministry of Civil Aviation asking the government to consider selling Air India’s subsidiaries separately, a ...

Bloomberg Southwest Airlines Co. quietly took delivery of its first Boeing Co. 737 Max jetliner, canceling an employee celebration in Dallas to mark the milestone because of the devastation in nearby Houston caused by Hurricane Harvey. The jet’s Tuesday arrival at Southwest marks the first at a North American carrier for the Max, which has shattered sales records at Boeing. ...

Bloomberg United Continental Holdings Inc. is likely to take at least a $265 million financial hit from Hurricane Harvey because of the carrier’s reliance on Houston as one of its biggest hubs, an airline analyst said. The third-largest US carrier’s seat count will fall an estimated 1.5 percent in the current quarter because of the storm, with little opportunity to ...