Bloomberg Philippine Airlines Inc filed for Chapter 11 bankruptcy in New York with a lender-supported plan that helps the country’s main carrier recover after the pandemic devastated global travel. The company aims to cut $2 billion in borrowings through a proposed restructuring plan, which needs court approval, it said. Philippine Airlines will also get $505 million in equity and debt ...

Bloomberg Wizz Air Holdings Plc has narrowed the gap with much larger Ryanair Holdings Plc during the coronavirus crisis, based on traffic figures for August, the peak month for summer tourist travel. Wizz carried almost one-third as many passengers as Ryanair last month, after expanding in markets such as Italy and Germany, according to traffic updates. In August 2019, the ...

Bloomberg Walmart Inc said it will raise wages for a swath of its US workforce, bringing its average hourly wage to $16.40 as the big-box retailer competes for employees amid a labour shortage. The raise of at least $1 per hour will start on September 25 and cover more than 565,000 workers, Walmart US Chief Executive Officer John Furner said ...