Aviation

  New York / Bloomberg The biggest US airlines missed their chance to lock in the cheapest energy costs in more than 12 years after jet fuel surged as much as 80 percent since January. The fuel on the US Gulf Coast was trading at $1.37 a gallon on Friday, up from less than 80 cents on January 20, the ...

  Bengaluru / Tribune News Service Hindustan Aeronautics Limited’s (HAL) Basic Trainer Aircraft, the HTT-40, made its maiden flight, just three years since its design phase, a record of sorts for the public sector company which has otherwise been associated with long delays in aircraft development. Built at a cost of Rs.350 crore, the HTT-40 will help the Indian Air ...

  Seoul / Bloomberg Singapore Airlines Ltd. will restart nonstop flights to the US three years after it stopped the services, ending the reign of United Airlines as the only carrier flying direct between the two nations. Singapore Air will start a daily nonstop flight from the city-state to San Francisco on Oct. 23 using Airbus Group SE A350-900 aircraft, ...

  Johannesburg / Bloomberg Fastjet Plc’s new chief executive officer said he may replace the African discount carrier’s planes with smaller ones and move its head office to a city somewhere on the continent from London to help end losses. The Airbus Group SE A319 jets used by Fastjet may be too large for the markets they serve, Nico Bezuidenhout ...

  Tehran / Bloomberg Iran is preparing to unveil a historic agreement for Boeing Co. jetliners within days that could be valued at about $25 billion. The transaction would be the first struck by the planemaker since sanctions were lifted in January and would require US government approval. An order listed at $27 billion announced by Europe’s Airbus Group SE ...

  Port Louis / Bloomberg National carrier Air Mauritius will take delivery of a new plane this month and another next year, additions that will boost the reach of its fleet of 12 jets, Chairman Arjoon Suddhoo said. Founded in 1967, Air Mauritius currently operates a fleet of four Airbus Group SE A340-300C, two A340-300E, a pair of A330-200, two ...

  Berlin / Bloomberg Deutsche Lufthansa AG is closely monitoring its flights to Nigeria as the aviation industry awaits payment of about $600 million in outstanding air fares in the country, which is struggling to cope with depleted U.S. currency reserves. The German carrier has made “minor adjustments” to winter flights to Africa’s biggest economy, Claus Becker, managing director for ...

  Pretoria / Bloomberg South African Airways SOC Ltd. said the airline subsidized its low-cost entity Mango Airlines by sub-leasing planes at a discount to market value, a move that may have given the carrier an advantage in the country’s highly competitive budget market. The state-owned carrier sub-leased Mango all 10 of its aircraft “at a significantly discounted cost” while ...

  Bangkok / AFP King Power, the Thai duty-free conglomerate behind the remarkable rise of English football champions Leicester City, said on Tuesday it had bought a $225 million stake in Thai Air Asia, the country’s largest budget airline. The purchase allows King Power’s billionaire owner Vichai Srivaddhanaprabha to further tap into Thailand’s booming tourism industry and expand beyond his ...

  Sydney / Bloomberg Qantas Airways Ltd. could be China’s next investment target after conglomerates from the country bought stakes in the Australian carrier’s closest domestic rival, Credit Suisse Group AG said. Separate investments in Virgin Australia Holdings Ltd. by HNA Group and Nanshan Group in the past two weeks have put around one third of the airline in Chinese ...