Aviation

Boeing Co. shares jumped after Chief Executive Officer (CEO) Dave Calhoun said the planemaker could generate $10 billion in cash annually by mid-decade, once it turns around its operations after years of setbacks and miscues. The company’s stock posted the largest gain in the 30-member Dow Jones Industrial Average as executives laid out plans to speed jetliner output and return ...

Abu Dhabi / WAM Cepsa, a Mubadala group company, and Etihad signed an MoU to accelerate the decarbonisation of air transport by researching and producing sustainable aviation fuels (SAF). Both companies prioritise the development of these sustainable fuels as a tool to further reduce the carbon footprint of air transport and contribute to the goals of the UN’s 2030 Agenda ...

Abu Dhabi / WAM Abu Dhabi Airports is gearing up to launch advanced biometric technology, which uses a passenger’s facial features as their passport to offer a seamless experience throughout their travel journey at Abu Dhabi International Airport, from the time they arrive at the airport to the time they board their flight. The technology uses smart cameras to capture ...

Air France-KLM said it could be interested in taking a stake in Portuguese flag carrier TAP SA as the government in Lisbon seeks an industry backer for an airline it was forced to rescue during the coronavirus crisis. Chief Executive Officer Ben Smith said that the Franco-Dutch group would “definitely engage on a formal basis” with a view to some ...

Carlyle Aviation Partners said it sued a group of insurance companies and re-insurers claiming they failed to pay for losses stemming from the seizure of planes leased to Russian airlines following the invasion of Ukraine. Carlyle Aviation leased 23 planes to Russian airlines, including Izhavia and NordStar, and tried to repossess and relocate the aircraft as soon as Russia’s invasion ...

Airbus SE maintained its year-end delivery target for aircraft, while cautioning that production disruptions could last into next year amid persistent shortage in labour and raw materials at suppliers. The planemaker said it still strives to hand over 700 aircraft this year, and the company is working towards boosting output of its bestselling A320 family to 75 by 2025. Airbus ...

Boeing Co. released a bullish 20-year forecast for China’s commercial jet market, confident that the country can emerge from the challenges of Covid-19 and a slowing economy and be a major driver of sales. The US manufacturing giant expects China to need 8,485 new passenger and freighter planes valued at $1.5 trillion through 2041. That figure is more than a ...

A slump in demand for household appliances has prompted Swedish manufacturer Electrolux AB to scale back its North American operations in a move that affects as much as 8% of its 50,000-strong workforce. The job cuts of 3,500 to 4,000 employees form part of a cost reduction problem that was announced alongside Electrolux’s third-quarter earnings. The company, which makes cookers, ...

Deutsche Lufthansa AG predicted demand for travel will remain strong in coming months as the desire to travel in the wake of the pandemic outweighs concerns about higher cost of living and the uncertain economic future. The airline group said demand for flights in the fourth quarter looks strong, adding it also expects a robust performance for its maintenance and ...

China Southern Airlines Co. cancelled two scheduled flights that would have used Boeing Co.’s 737 Max, further postponing the return of the aircraft in the country since it was grounded in March 2019. The planned flights on October 30 were to be from Guangzhou to the cities of Wuhan and Zhengzhou, according to China Southern’s website. China’s largest airline originally ...