Bloomberg Cathay Pacific Airways Ltd signalled a stronger second-half outlook even as Chief Executive Officer Augustus Tang told staff Hong Kong’s status has been hammered by Covid travel restrictions that continue to shackle the city. While Hong Kong’s main airline said its first-half net loss narrowed to HK$5.3 billion ($675 million) from HK$7.9 billion a year earlier, Tang said ...
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TUI sees solid holiday demand in summer despite cost of living crisis
Bloomberg TUI AG, the world’s biggest tour operator, said it remains on course to post a profit this year, with bookings and prices looking strong for the rest of the summer even as Europeans suffer a cost of living squeeze. The firm expects to report “significantly positive†underlying earnings before interest and tax for the 12 months through September, ...
Read More »UK, China agree to resume direct flights
Bloomberg The UK and China have agreed to resume direct passenger flights, a sign that Chinese authorities are slowly loosening their grip on the world’s tightest Covid-19 regime and opening up to travel again. Chinese airlines will offer the first flights and work is ongoing to resume routes for UK carriers, the British Embassy in China said in a ...
Read More »Boeing gets green light to deliver 787s after FAA nod
Bloomberg Boeing Co is poised to resume deliveries of its 787 Dreamliner jets as soon as August 10, almost two years after they were disrupted by manufacturing flaws. The first is set to go to American Airlines Group Inc now that US regulators have cleared the Arlington, Virginia-based planemaker to restart deliveries. The carrier plans to take the Dreamliner, its ...
Read More »Thai Air to get $2.3bn aid from government
Bloomberg Thai Airways International Pcl will receive key financial support from the government for its 80 billion baht ($2.3 billion) capital raising and debt-to-equity swap plan aimed at helping the state-controlled carrier come out of its pandemic-induced bankruptcy. State-owned banks will lead in funding new loans, converting debt and injecting equity capital into Thai Air as part of a ...
Read More »UK airfares up 30% as demand runs up against flight caps
Bloomberg Britons booking a break in some of Europe’s most popular holiday destinations this summer are seeing airfares climb by almost a third amid booming demand, high oil prices and curbs on airline capacity. Fares in the first week of August, the peak month for UK travel, were up 30% on average for the top 36 routes compared with pre-pandemic ...
Read More »HK quarantine reduction not enough, says airline group
Bloomberg Hong Kong’s move to reduce mandatory hotel quarantine for international travellers isn’t enough to bring back tourists, according to Association of Asia Pacific Airlines Director General Subhas Menon. “It’s not time to bring out the bubbly,†Menon, whose group represents 14 Asia Pacific carriers including Cathay Pacific Airways Ltd said in an interview with Bloomberg Television. “It’s always ...
Read More »Rolls-Royce’s exiting CEO posts earnings miss as long-haul lags
Bloomberg Rolls-Royce Holdings Plc CEO  Warren East unveiled lackluster first-half results in his final earnings presentation while saying a mounting recovery in long-haul travel means the jet-engine maker should still hit its full-year financial targets. The UK engineering giant posted an underlying operating profit of 125 million pounds ($152 million) for the first six months, down from 307 million pounds ...
Read More »HK needs roadmap to end quarantine: Cathay
Bloomberg Hong Kong should urgently provide a clear roadmap for the complete removal of all Covid-19 travel restrictions, the city’s main carrier Cathay Pacific Airways Ltd said. The airline’s statement followed the government saying it will cut mandatory hotel quarantine to three days from a week, effective from August 12. A clear plan to lift all restrictions is needed ...
Read More »Ryanair fined over Hungary tax its CEO called ‘beyond stupid’
Bloomberg Ryanair Plc was slapped with a fine in Hungary over a windfall tax the airline’s Chief Executive Officer had called “beyond stupid.†Hungary’s Consumer Protection Office levied a 300 million forint ($781,270) penalty for Ryanair’s decision to pass on the cost of the tax to its customers, Justice Minister Judit Varga said in a Facebook post on Monday. Ryanair ...
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