Aviation

  Bloomberg It’s rarely a good sign when you become the butt of jokes. But that’s what happened to Pratt & Whitney at an industry gathering recently, when John Leahy, the venerable chief salesman of Airbus Group SE, went on about a futuristic airplane — with an engine that “no doubt will be delivered late.” While the audience was amused, ...

  Bloomberg The United Nations accord reached to clean up pollution from international aviation may cost airlines as much as $23.9 billion annually by 2035. The companies see it as a victory. The landmark deal brokered in Montreal creates a global system requiring airlines to compensate for emissions growth after 2020 by funding environmental initiatives. That spares carriers from exactly ...

  AFP Hong Kong flag carrier Cathay Pacific bid farewell to its Boeing 747 fleet with a final low-altitude flyby over the city’s iconic skyline. The final route harked back to dramatic images of the planes flying low over rooftops of apartment blocks as they used to approach the old airport on the harbour. The flight, codenamed CX8747, flew over ...

  AFP At first glance there’s nothing out of the ordinary about the regional airport in George, a town of just 150,000 residents on South Africa’s south coast. In fact though, the small site is Africa’s first “green” airport to be powered by the sun. The control tower, escalators, check-in desks, baggage carousels, restaurants and ATMs — every service here ...

Bloomberg Boeing Co. landed an $18.6 billion deal with Qatar Airways for as many as 100 aircraft, providing a sales boost to the U.S. company’s upgraded 737 jetliner with one of the year’s largest commercial airplane deals. The Doha-based carrier pledged to buy as many as 60 of the 737 Max 8 jet, valued at $6.9 billion at list prices, ...

  Bloomberg China’s HNA Group, controlled by billionaire Chen Feng, agreed to buy the aircraft-leasing business of CIT Group Inc. for $10 billion in a deal that would create the world’s third-largest rental fleet. HNA’s Avolon Holdings Ltd. will expand its lineup to 910 aircraft valued at more than $43 billion, including planes on order, the company said in a ...

  Bloomberg Deutsche Lufthansa AG shares, which have been trading near their lowest level in four years, are at risk of dropping out of Germany’s benchmark DAX Index as the airline battles low-cost competitors, labor unions and a shaky credit rating. Lufthansa’s market value now ranks 40th among DAX members, down from 35th place in April, according to data published ...

  Bloomberg Turkish Airlines said it plans to postpone dozens of Airbus Group SE and Boeing Co. narrow-body jets as it contends with a turbulent travel market following terror attacks in Istanbul and Europe. The carrier is delaying deliveries of 39 of the upgraded single-aisle planes originally scheduled for 2018 to 2020, the company said in a filing Friday to ...

AFP Chinese financial giant Everbright has bought the Albanian capital’s main air hub, Tirana International Airport, its management said. The airport had since 2005 been run by TIA, whose shareholders include German airport manager AviAlliance, German investment and development firm DEG and the Albanian-American Enterprise Fund. “We are thrilled to announce an era of transformation with China Everbright Limited,” TIA ...

  Bloomberg EasyJet Plc’s annual profit fell for the first time since 2009 as a spate of terror attacks clipped demand and the decline of the pound following Britain’s vote to quit the European Union inflated foreign-currency costs. Pretax profit for the 12 months ended Sept. 30 is expected to have been in the range of 490 million pounds to ...