Aviation

  Bloomberg The federal judge overseeing SAS AB’s Chapter 11 process approved a $7 million breakup fee to Apollo Global Management Inc if its planned bankruptcy financing package for the Scandinavian airline falls through. Apollo said it would provide roughly $700 million to help SAS continue to operate during bankruptcy on the condition that the court signed off on the ...

  Bloomberg Cabin crew staff of International Consolidated Airlines Group SA’s low-cost Spanish carrier Iberia Express plan to strike after talks over pay stalled. The USO union has called walkouts from August 28 to September 6 after failing to reach an accord with the company to link pay to inflation and then increase salaries, an official for the union said. ...

  Bloomberg American Airlines Group Inc agreed to buy 20 Overture jets from Boom Supersonic, gambling that a market will emerge for a new generation of sleek aircraft that can cut transatlantic travel times by half. The world’s largest airline also has an option to purchase another 40 of the gull-winged jets that Boom plans to roll out by mid-decade, ...

  Bloomberg Ryanair Holdings Plc is adding 500 flights to its autumn schedule from its base at London Stansted airport as the discount carrier looks to win more customers after Heathrow extended a cap on capacity. The extra flights will give Ryanair an additional 100,000 seats during the mid-term school holidays to destinations including Spain, Italy, Portugal and Greece, the ...

Bloomberg British Airways check-in staff approved a pay settlement that their union said amounts to a 13% raise, while Uber Technologies Inc agreed to raise fares in the UK to boost earnings for its drivers. BA employees “overwhelmingly backed” the settlement, the Unite union said, after announcing last month that an agreement had been reached to avert strikes at the ...

  Bloomberg Malaysia Airlines said it will acquire 20 Airbus SE A330neo wide-body planes as it seeks more fuel-efficient jets amid a travel rebound. The Southeast Asian carrier will purchase 10 A330-900 aircraft, with the rest coming from lessor Avolon Holdings Ltd existing order book, it said in a statement. The model is a re-engined version of the original A330 ...

Bloomberg The decision by five Chinese state-owned companies to leave US stock exchanges adds to skepticism that authorities in both countries can reach an agreement on disclosure rules, with analysts seeing state-controlled airlines as the next potential group to depart, possibly followed by internet giants. China and Hong Kong are the only jurisdictions worldwide that don’t allow inspections by the ...

  Bloomberg The recovery of global business-travel spending to the pre-pandemic level of $1.4 trillion has been pushed out 18 months to mid-2026 by inflation, economic slowing and high energy prices, the Global Business Travel Association is forecasting. The return to the 2019 level also is being slowed by supply-chain disruptions, labour shortages, lockdowns in China and the effects of ...

  Bloomberg Startup airline Norse Atlantic ASA, which begins UK-New York flights, said it will rely on strict cost control and the strength of Europe-US travel to endure headwinds from spiraling inflation and slowing economies. The discount carrier, which operates Boeing Co. 787 jets from the failed trans-Atlantic arm of Norwegian Air Shuttle ASA, is starting off slow with a ...

  Bloomberg Joby Aviation Inc., the electric aircraft company working on flying taxis, has increased the size of its contract with the US Defense Department to as much as $75 million. The company plans to announce the new agreement. The California-based company makes electric-powered, vertical takeoff and landing vehicles, or eVTOLs. Its Defense Department deal, which runs through 2025, more ...