Aviation

BLOOMBERG Akasa Air, India’s newest airline, was forced to thin out its schedule after some pilots left and joined bigger competitors. “In the last thirty days, we have rationalised our network,” Akasa CEO Vinay Dube wrote in an email to employees that was seen by Bloomberg News. “We have chosen to fly less and give up market share in the ...

BLOOMBERG Ocado Group Plc said its online retail joint venture is making some progress, with volumes showing a slight recovery as shoppers hunt around for affordable food. The 50-50 venture between Ocado and Marks & Spencer Group Plc said it recorded a return to positive volume growth in the last month of the third quarter. Average orders per week and ...

BLOOMBERG A Liechtenstein court order has exposed a trove of luxury cars and watches among the items seized by prosecutors investigating allegations of fraud linked to one of the investors aiming to revive India’s Jet Airways. The supreme court in Liechtenstein rejected an appeal to unfreeze the assets that include seven Porsche cars, five Rolex “boxes” and a classic car ...

BLOOMBERG Amazon.com Inc plans to hire 250,000 logistics workers, suggesting the online retailer is bullish about what’s otherwise expected to be a humdrum holiday shopping season. The recruits will include full-time, part-time and seasonal workers at hourly rates ranging from $17 to $28 per hour depending on location, the company said in a blog post. Some new hires will be ...

BLOOMBERG The heads of the two biggest discount carriers in the UK are calling for a change of leadership at the country’s air traffic management provider after repeated disruption during the busy summer travel season. Ryanair Holdings Plc’s outspoken Chief Executive Officer Michael O’Leary called for NATS CEO Martin Rolfe’s resignation after a staffing shortage at London’s Gatwick Airport led ...

BLOOMBERG Virgin Australia Airlines Pty found a second suspected unapproved plane part from obscure UK supplier AOG Technics Ltd, as the industry continues to hunt down bogus components that have spread across the global fleet. The Australian airline discovered a seal with false certification documents on an inner high-pressure turbine nozzle on a Boeing Co 737 jet, according to a ...

BLOOMBERG Qantas Airways illegally sacked 1,700 ground workers during the pandemic, Australia’s top court ruled, delivering a further blow to the reputation of the country’s most-complained-about business. The High Court of Australia dismissed Qantas’ appeal against an earlier judgment that found the airline axed the employees unlawfully. Qantas now faces penalties and compensation payments to affected workers. Qantas outsourced ground-handling ...

BLOOMBERG US passenger airline shares sank by the most since July after American Airlines Group Inc and discount carriers warned that higher fuel costs, labour costs and flagging interest in domestic travel were hurting their bottom lines. American slashed its third-quarter earnings outlook on a jump in jet fuel prices and payment of roughly $230 million in retroactive salary under ...

BRUSSELS / WAM Members of European Parliament (MEPs) approved a new law to increase the uptake of sustainable fuels, such as advanced biofuels or hydrogen, in the aviation sector. The RefuelEU aviation rules are part of the “Fit for 55 package”, the EU’s plan to reduce greenhouse gas emissions by at least 55% by 2030 compared to 1990 levels and ...

BLOOMBERG Hungary has submitted a formal offer to buy a majority stake in Budapest Airport in a transaction that could be valued at about €4 billion ($4.3 billion), according to a person familiar with the matter, potentially ending years of wrangling over the hub’s fate. The two parties are expected to now enter into formal discussions, said the person, who ...