Aviation

  Bloomberg JetBlue Airways Corp raised its offer to purchase Spirit Airlines Inc, the latest move in a multi-billion dollar takeover contest with rival Frontier Group Holdings Inc, with both would-be suitors battling to secure a swift track to expansion as domestic travel demand surges. New York-based JetBlue is now offering $33.50 per share, up from $31.50 on June 6, ...

Bloomberg EasyJet Plc said it will rein in summer capacity after London Gatwick and Amsterdam Schiphol airports, its two biggest bases, capped flights to help cope with a staffing shortage. The measure is set to push up costs. The UK discount carrier will now operate at around 87% of pre-Covid capacity in the three months ending on June 30, increasing ...

  Bloomberg Ryanair Holdings Plc’s British-based pilots accepted a new pay deal with the airline, avoiding any potential strike and giving the carrier some relief amid a wave of action from staff across Europe. Ryanair members of the British Airline Pilots’ Association voted to accept a revised pay offer from the airline, a union spokesperson said. BALPA had been in ...

Bloomberg The airline industry will return to profit next year as pent-up demand for travel sustains bookings even as the global economy tightens, the International Air Transport Association (IATA) trade group predicted. Losses this year are likely to total $9.7 billion as air travel begins its recovery from the coronavirus crisis, IATA said in an update at its annual meeting, ...

Bloomberg Airbus SE and Qantas Airways Ltd will make a joint investment aimed at kick-starting Australia’s sustainable aviation fuel industry. The planemaker and airline plan to invest as much as $200 million to accelerate the adoption of SAF in the country, they said. “The use of SAF is increasing globally as governments and industry work together to find ways to ...

  Bloomberg Just a day after airline executives met with US transportation officials on how to stem flight disruptions, a band of storms triggered thousands of cancellations and delays for beleaguered carriers. More than 6,000 flights were late or scrubbed altogether as of 4:25 pm ET, according to tracking website FlightAware. That comes on top of more than 1,700 cancellations ...

Bloomberg Boeing Co delivered a missile interceptor for US’s ground-based system three years late after overcoming vexing subcontractor quality problems, congressional auditors said. The delivery in December, which wasn’t previously announced, followed “production challenges” because “the boost vehicle contractor mishandled a key avionics component and had to build a new one,” the Government Accountability Office said in its annual report ...

  Bloomberg The finance team behind the new terminal at New York’s John F. Kennedy International Airport expects to sell more than $6 billion of municipal bonds in the coming years to help pay for the project. The group plans to issue taxable or tax-exempt debt in the $4 trillion muni market to refinance a $6.6 billion bank loan originally ...

Bloomberg Aerojet Rocketdyne Holdings Inc Chief Executive Officer (CEO) Eileen Drake has received backing from the Institutional Shareholder Services (ISS) for her slate of candidates battling for board seats in a proxy fight with the US rocket-engine maker’s chairman. In a shareholder letter, Drake and three other independent directors said the ISS, a provider of proxy research and vote recommendations to the ...

  Bloomberg Cathay Pacific Airways Ltd continues to experience a very high rate of pilot resignations, and may improve allowances and benefits to appease crew who took deep pay cuts to help Hong Kong’s flag carrier navigate its way through the city’s Covid-19 crisis. “We still have resignation rates at much higher levels than we’ve historically had,” Chief Operations and ...