Bloomberg Cathay Pacific Airways Ltd shares extended their double-digit rally after a Chinese state-run newspaper tweeted that Hong Kong’s airport may restart transfer flights to mainland China, a move that could inject the beleaguered carrier with some much-needed travelers. Cathay climbed more than 13%, its biggest intraday gain in two months, as the Global Times said on Twitter that the …

Bloomberg British Airways (BA) said it reached a preliminary agreement with labour groups representing some ground-based employees as it seeks to cut costs and ride out a deep slowdown triggered by the coronavirus pandemic. BA has signed outline deals with the Unite and GMB unions that cover engineers and customer-facing staff at its London Heathrow hub, Chief Executive Officer Alex …

Bloomberg Rolls-Royce Holdings Plc warned of a new manufacturing defect after finding cracks in turbines that power Airbus SE’s A350 jet, an unwelcome development after years of engine problems racked up billions in costs. The glitch concerns compressor blades on XWB engines in service on the A350 for four or five years, Rolls-Royce said in a statement. It said the …