Bloomberg China Eastern Airlines outlined several actions it needs to undertake before operating Boeing Co’s 737 Max again, including modifications to the aircraft and further pilot training, damping hopes the narrowbody will return to Chinese skies any time soon. Li Yangmin, vice chairman of the Shanghai-based state-owned carrier, indicated to investors at a virtual briefing that the airline is ...

Bloomberg India is investigating three separate incidents in the past two months where airline pilots had to shut down plane engines mid-flight made by a joint venture of General Electric Co, according to people familiar with the matter. The so-called commanded in-flight shutdowns — when pilots intentionally turn off one of the two engines after encountering problems — may have ...

  Bloomberg Such is the state of the UK consumer that even seemingly positive data can reveal bad news about the economy. After a week of grim reports showing inflation at a four-decade high and consumer confidence at the lowest level since at least 1974, a release showing retail sales unexpectedly rose in April appeared to buck the trend. The ...

  Bloomberg Investors fled every major asset class in the past week, with US equities and Treasuries a rare exception to the massive exodus, amid concerns that tightening monetary policy will push major economies into a recession. Equity funds had $5.2 billion outflows in the week to May 18, led by redemptions from mutual funds, according to Bank of America ...

  Bloomberg China’s almost-trillion dollar hedge fund industry risks worsening the turmoil in its stock market as deepening portfolio losses trigger forced selling by some managers. About 2,350 stock-related hedge funds last month dropped below a threshold that typically activates clauses requiring them to slash exposures, with many headed towards a level that mandates liquidation, according to an industry data ...

Bloomberg EasyJet Plc reported a surge in summer bookings while saying there’s still too much uncertainty over demand to provide an outlook for the fiscal year ending in September. Sales over the past 10 weeks are running 6% ahead of 2019 levels, Luton, England-based EasyJet said after reporting a narrower first-half loss. Yet almost two-thirds of seats for the crucial ...

  Bloomberg Hong Kong Airlines Ltd has asked pilots to take several months leave on sharply reduced pay as Covid-19 lockdowns in China snarl supply chains, weakening demand for air freight — the carrier’s key source of income during the pandemic. The financially troubled carrier is calling for volunteers to take leave starting in June through until the end of ...

  Bloomberg Business travel is returning for Singapore Airlines Ltd, with forward bookings accounting for a similar proportion of ticket sales as before the Covid pandemic now that border restrictions have been lifted. “Since April of this year, when Singapore fully opened its borders, we have seen a strong rebound in corporate travel,” the carrier’s executive vice president of commercial ...

  Bloomberg Losses for Walmart Inc and Target Corp are mounting as investors fled the stocks after the US retail giants cut their growth outlook for 2022 — an industry wide warning that inflation is denting consumer expenditures across the country. Walmart fell 6.6% after posting its biggest one-day decline since 1987 the prior day when it cut its full-year ...

  Bloomberg China’s aviation industry lost a combined 84.3 billion yuan ($12.5 billion) last year, as the country kept its borders closed to keep out Covid-19. A rebound in domestic travel to pre-pandemic levels helped narrow total losses from 97.4 billion yuan in 2020, China’s aviation regulator said Thursday. Sales by airlines and airports rose 22% last year, but that ...