Aviation

Bloomberg China is set to overtake the US to become the world’s largest aviation market by passengers by 2024 as more people take to the skies domestically and internationally, according to the International Air Transport Association. The number of people flying to, from and within China will almost double to 927 million annually by 2025, from 487 million last year, ...

  Bloomberg Deutsche Lufthansa AG raised its 2016 profit forecast after premium-class bookings beat the airline’s expectations and as fuel costs decline. The stock rose the most in eight years. Adjusted earnings before interest and taxes this year will about match the 2015 figure, bolstered by a projected decrease of 140 million euros ($154 million) in fourth-quarter fuel expenses, the ...

  Bloomberg Canada’s plane and train maker Bombardier said it was cutting 7,500 jobs, its second major layoff announcement this year following delays in deliveries of its C-series airplanes. The job cuts, to be completed by the end of 2018, are expected to mostly hit administrative posts, with two-thirds from the transport division, a Bombardier spokesman said. These layoffs come ...

  Bloomberg Oceanair Linhas Aereas SA, which operates as Brazilian airline Avianca Brasil, hasn’t paid more than $4 million in lease payments for one of its Airbus A330 airplanes, according to a lawsuit filed by Wells Fargo & Co. The complaint, filed Oct. 14 in federal court in Manhattan, claims the airline is behind on $4.64 million in payments to ...

  Bloomberg Canada’s retail sales unexpectedly fell and the inflation rate trailed forecasts, raising concern about the health of the country’s economic rebound. Retail sales fell 0.1 per cent in August, compared with forecasts for a 0.3 per cent gain. Consumer inflation accelerated for the first time in five months in September to 1.3 per cent, however the jump was ...

  Bloomberg Alaska Air Group can’t complete its merger with Virgin America unless it gives at least seven days advance notice to the San Francisco federal court judge presiding over a consumer antitrust case contending the tie-up is anticompetitive. US District Judge William Alsup issued an order warning Alaska Air that “any consummation will be subject to divestiture,” meaning any ...

  Bloomberg Malaysia Airlines Bhd. said it will use six surplus Airbus Group SE A380 superjumbos to form the core of a fleet of 700-seat jets dedicated to transporting Muslim travelers on the annual Hajj pilgrimage to Mecca. Peter Bellew, the carrier’s chief executive officer, met Airbus’s senior management in Toulouse, France, on Wednesday to hammer out details of the ...

  Bloomberg Malaysia Airlines Bhd. Chief Executive Officer Peter Bellew said fare cuts aimed at boosting passenger numbers on Kuala Lumpur-London flights are bearing fruit, with the carrier’s market share up 9 percentage points in the past 11 weeks. The Asian company, which saw passenger confidence slump after two fatal crashes in 2014, now accounts for 53 percent of traffic ...

  Bloomberg The UK government will decide next week whether to expand London’s main airport, Heathrow, or its rival Gatwick putting an end to decades of prevarication over what has become one of the most contentious issues in British politics. The preferred option will be chosen by the cabinet’s Economy and Industrial Strategy Sub-Committee with responsibility for airports, Prime Minister ...

  Bloomberg Ryanair Holdings Plc cut its profit guidance as the slump in the pound following Britain’s vote to quit the European Union weighs on fares, after previously holding out against a revision. Net income in the year ending March 31 will increase by about 7 percent rather than the 12 percent previously estimated as sterling’s slide has a bigger ...