Aviation

  Berlin / AFP Terror attacks in Europe and “political and economic uncertainty” have prompted German airline Lufthansa to cut its full-year profit target, the company has announced. “Due to increasing political and economic uncertainties the Executive Board reduces forecast” for earnings before interest and tax 2016 (EBIT) to “below previous year”, the airline said in a recent statement. In ...

  Bloomberg EasyJet Plc reported lower quarterly revenue and said volatility would affect the key summer travel season as the British low-cost carrier faces headwinds including a string of terrorist attacks across its main markets and Britain’s decision to exit the European Union. Sales in the fiscal third quarter ended June 30 fell 2.6 percent to 1.2 billion pounds ($1.58 ...

  Bloomberg American Airlines Group Inc. expects new credit-card deals with Citigroup Inc. and Barclays Plc to boost its pretax income by about $1.55 billion over the next two-and-a-half years. The accords will generate $200 million before taxes in the second half of this year, $550 million in 2017 and $800 million in 2018, the carrier said in a US ...

  Bloomberg United Continental Holdings Inc.’s second-quarter profit exceeded analysts’ estimates as lower fuel and operating costs overcame weak fares. Adjusted earnings of $2.61 a share beat the $2.56 average of analyst estimates. United said that it plans to trim growth for 2016 and now sees full-year capacity increasing no more than 1.5 percent from last year, compared with the ...

  London / AP China and Russia are making their presence felt in the multibillion-dollar aviation market. With demand for single-aisle aircraft expected to grow for years to come, particularly from Asia, some experts think the new firms have a real chance at cracking the market, especially if they have the backing of their national governments. But it won’t be easy ...

  Bloomberg Cathay Pacific Airways Ltd. slumped the most in three weeks after Asia’s biggest international carrier said first-half performance was “below expectations” and yields were under “intense pressure.” Shares snapped six days of gains after the Hong Kong-based airline said in a statement to the stock exchange this week that combined passenger load factor for Cathay Pacific and unit ...

  Bloomberg South African Airways (SAA) completed a flight using jet fuel made from a tobacco plant, its first contribution to the global push to power more air journeys from renewable resources. SAA used 6,300 liters of bio jet fuel for the one-way trip to Cape Town from Johannesburg, the state-owned carrier said. The initiative was carried out in conjunction ...

  New York / AP Losing near-monopoly control over Newark Liberty International Airport is going to cost United Airlines $412 million, or $264 million after taxes. The Federal Aviation Administration (FAA) announced that it would lift all the restrictions at Newark, essentially opening it to as many flights and airlines that could secure gate space at the airport. The new flight ...

  Washington / AP Congress passed an aviation bill last week that attempts to close gaps in airport security and shorten screening lines, but leaves thornier issues unresolved. The bill also extends the Federal Aviation Administration’s programmes for 14 months at current funding levels. It was approved in the Senate by a vote of 89 to 4. Responding to attacks by ...

  Bloomberg Asia’s hunger for travel gave a lift to Airbus Group SE and Boeing Co. during the recently-held Farnborough Air Show. Carriers in China and Vietnam ordered new planes while those in India and Malaysia zeroed in on the manufacturers’ workhorse single-aisle jets. Xiamen Airlines agreed to buy 30 Boeing 737 Max 200s worth $3.39 billion at list prices, ...