Aviation

Bloomberg European planemaker Airbus has unveiled a new cabin brand designed to help cost-conscious airlines carry more passengers on long-haul flights while avoiding additional discomfort. The move reflects the rivalry between major planemakers to jazz up interiors and give airlines more flexibility on cabins as the industry struggles to capture more traffic without angering passengers. Airbus said the “Airspace by ...

Bloomberg Virgin America’s IPO was opportune. Selling now would continue that streak of good timing. The $1.5 billion US airline backed by billionaire Richard Branson is working with an adviser to evaluate a full or partial sale after receiving takeover interest. It would be a quick turnaround for a company that went public less than 18 months ago. Virgin soared ...

DUBLIN / Reuters Founder Pat Byrne and private equity backers have repurchased Irish regional airline CityJet from German owners Intro Aviation for an undisclosed sum, the company has recently announced. The regional airline, which carried around 2 million passengers last year, was bought from Air France-KLM in 2014 by Intro Aviation. CityJet operates eight routes into the small London City ...

Bloomberg Hainan Airlines Co., the biggest private airline in China, reported a 15.9 percent jump in full-year profit as cheaper oil prices drove down costs and passenger numbers increased. Billionaire Chen Feng’s airline reported net income of 3 billion yuan ($460.6 million) last year compared with 2.6 billion yuan in 2014, the Haikou, Hainan-based company said in a Shanghai stock ...

Bloomberg Richard Branson’s Virgin Atlantic Airways Ltd. almost doubled earnings last year after expanding its pact with 49 percent shareholder Delta Air Lines Inc., hosting more people on holiday packages and benefiting from the drop in oil prices. Pretax profit excluding exceptional items surged to 22.5 million pounds ($32 million) from a restated 12.4 million pounds in 2014, helped by ...

Bloomberg American Airlines Group Inc. gave in to pressure from employees and adopted a profit-sharing programme, acknowledging the issue was thwarting efforts to improve labor relations and the carrier’s performance. American joins the other large US carriers — Delta Air Lines Inc., United Continental Holdings and Southwest Airlines Co. — in splitting some earnings with employees. Starting this year, 5 ...

BEIJING / Bloomberg China’s airlines are reaping the benefits of a policy not to hedge in the oil market, unlike some of their rivals across Asia Pacific. The ’Big Three’ — Air China Ltd., China Southern Airlines Co. and China Eastern Airlines Corp., will probably report next week at least a 70 percent surge in net income for 2015 amid ...

SYDNEY / Reuters Richard Branson-backed airline Virgin Australia Holdings Ltd said it tapped its top shareholders for a A$425 million ($320 million) loan facility, a step that is expected to help it cut its reliance on the bond market for funds. The loan facility goes some way to address investor concerns that its cash reserves have declined sharply in the ...

DALLAS / Bloomberg Southwest Airlines Co. pilots are seeking pay raises that would give them the highest compensation in the industry plus a bigger company contribution to retirement savings, according to a contract proposal presented to the carrier. The pay increases would average 4.1 percent annually for a compound gain of almost 33 percent over seven years under the plan ...

MOBILE / AP A European aircraft maker Airbus conducted the inaugural test flight on its first US-made jetliner, calling the exercise a success after the plane flew for hours over the Gulf of Mexico. The A321 passenger jet took off and landed at Mobile Aeroplex at Brookley, site of the company’s new plant near downtown Mobile, Alabama. The three-hour flight ...