Bloomberg American Airlines Group Inc is offering additional programs to encourage more pilots to leave the carrier, stepping up efforts to avoid forced furloughs later this year as the coronavirus pandemic guts travel demand. The options include a plan to alternate months of flying and unpaid time, leaves of absence of as long as three years and a voluntary early-exit ...

Bloomberg Hedge fund manager David Einhorn said he bought a stake in Atlas Air Worldwide Holdings Inc in the second quarter, betting that the cargo carrier will benefit from a shortage of airfreight capacity caused by the coronavirus pandemic. Passenger planes handled about half the world’s airborne cargo before the pandemic, with most of it on long international flights, the ...

Bloomberg Britain’s troubled PizzaExpress chain announced a rescue plan that’s likely to close scores of restaurants, put hundreds of pizza chefs and waiters out of work and hand control of the business to creditors. As part of the proposals, the company will implement a legal process known as a company voluntary arrangement that may permanently close about 15% of UK ...

Bloomberg Travel restrictions brought on by the Covid-19 pandemic continue to slow the re-certification process for Boeing Co’s 737 Max in Europe, even after US aviation regulators moved a step closer to allowing the grounded jet to fly again. The European Union Aviation Safety Agency said it’s still working with Boeing and the US Federal Aviation Administration to find a ...

Bloomberg The debt market is showing concern about Seven & i Holdings Co’s $21 billion deal to buy Marathon Petroleum Corp’s gas-station business, even as equity investors grew more positive on the purchase. The credit rating of the world’s largest convenience store operator was cut by Moody’s Investors Service from A1 to A2, the sixth-highest level, citing “an expected spike ...

Bloomberg Army personnel and rescue workers sifted through mountains of rubble from a massive explosion that flattened Lebanon’s main port, looking for survivors from a blast that roared through the capital, Beirut, killing at least 100 people and wounding thousands more. Authorities appealed to other countries for emergency aid as concerns over food supply in the import-dependent nation mounted. Officials ...

Bloomberg President Donald Trump said the coronavirus pandemic is “going away,” as the US continues to see tens of thousands of new daily cases and recorded 1,380 deaths. “This thing’s going away. It will go away like things go away,” Trump said in a telephone interview with Fox News. He said the US is in “very good shape” while touting ...

Bloomberg The rapid speed at which researchers are developing coronavirus vaccines doesn’t mean that safety is being sacrificed, said Anthony Fauci, the US government’s top infectious-disease expert. “The rapidity with which we are moving relates more to technological advances with how you can make a vaccine even before you start testing it,” Fauci, the head of the National Institute of ...

Bloomberg Authorities lifted a curfew in the main city in India’s portion of Kashmir where sweeping movement and Internet curbs and a heavier than usual military presence marked a year since the revocation of seven decades of autonomy in the disputed Muslim-majority region. The two-day curfew was rolled back after widespread criticism, a government order said, but businesses and public ...

Bloomberg Three years after he survived an assassination attempt, Tanzania’s main opposition chose Tundu Lissu as its candidate to run for president. The 52-year-old human-rights lawyer will run against John Magufuli, who’s seeking a second term after five years in power that critics say has been marred by a crackdown on civil liberties and political dissent. While Magufuli is expected ...