Bloomberg Virgin Atlantic Airways Ltd is closing in on a 400 million-pound ($504 million) rescue led by Davidson Kempner Capital Management after the US hedge fund offered more favorable terms than other potential backers, people familiar with the matter said. Davidson Kempner has offered funding conditions that an alliance of Elliott Management Corp and UK investment firm Greybull Capital declined …

Bloomberg Boris Johnson is under pressure to strip IAG SA’s British Airways of valuable landing slots at UK airports amid concern about the airline’s plan to cut 12,000 jobs, according to a report in the Daily Mail. More than 100 British members of parliament from various political parties are asking the prime minister to reconsider BA’s right to slots at …

Bloomberg The High Court of Kenya ordered the national carrier to temporarily freeze job cuts pending a full hearing of the matter. The case will be heard on July 16, Judge Hellen Wasilwa said in an judgment. The Kenya Aviation Workers’ Union sought the action against Kenya Airways after the airline’s chief executive officer, Allan Kilavuka, earlier this month told …