Italy is preparing to give ITA Airways a further cash injection, as the newly elected right-wing government reviews plans to sell the state-controlled carrier in the coming months. The finance ministry has approved a new outlay of €400 million ($400 million) to support ITA, the successor to failed flag carrier Alitalia, people familiar with the matter said. That would bring …

Cathay Pacific Airways Ltd. named customer chief Ronald Lam as its new chief executive officer to replace Augustus Tang. Lam, 50, will take over on January 1, Cathay said in a statement on Wednesday. He faces the challenge of leading the 76-year-old carrier out of the mire caused by Covid travel restrictions, which plunged it into crisis and sparked a …

The chief executive officer (CEO) of Latin America’s largest airline wants the carrier to take on a more socially conscious role after the Covid-19 pandemic forced it into bankruptcy and posed “existential questions” about its future. Roberto Alvo, who was named CEO of Latam Airlines Group just as the global pandemic began to unfold in early 2020, said the company …

Adani Ports and Special Economic Zone Ltd. has agreed to buy a 49.38% stake in liquid storage facility company Indian Oiltanking Ltd. for 10.5 billion rupees ($129 million) as its billionaire founder, Gautam Adani, seeks to bolster cargo handling operations in India. Adani group’s listed port company has also agreed to buy an additional 10% equity stake in IOT Utkal …

A potential near-term peak in bond yields should help US stocks in the short-run, but risks remain for investors as global central banks raise interest rates at the fastest pace in decades, according to JPMorgan Chase & Co.’s Marko Kolanovic. “(Federal Reserve) Chair Powell stated that rates are likely to move higher than previously indicated by the September dots (4.75%) …

Chinese stocks halted a recent rally as a jump in Covid-19 infections and official comments defending Covid Zero dented optimism for a potential reopening. The Hang Seng China Enterprises Index slipped 0.6% on Tuesday, following gains of about 14% over the past five days. A separate gauge on Chinese tech shares trading in Hong Kong falls 1.6%. China’s potential exit …

Virgin Atlantic Airways Ltd. is seeking additional operating slots at London’s Heathrow Airport as the carrier looks to add more routes to the US and Asia with the arrival of new jets from Airbus SE. The airline, which narrowly avoided collapse during a funding squeeze at the height of the coronavirus crisis, is seeking takeoff and landing positions at Europe’s …

British Airways parent IAG SA said it will return passenger capacity almost to pre-pandemic levels at the start of next year as demand for travel holds up despite a Europe-wide surge in the cost of living. Capacity in the first quarter of 2023 is expected to be around 95% of the 2019 figure, compared with 87% in the current three …

Kenya Airways Plc terminated its recognition of a collective bargaining agreement with a pilots’ union as a labour dispute that has left thousands of passengers stranded across its network dragged into a fourth day. The airline accused the Kenya Airline Pilots Association officials, or Kalpa, of disregarding dispute resolution mechanisms and ignoring a court ruling that declared the industrial action …

Inflation on the weekly supermarket shop has struck a record high in the UK, making it harder for families to put food on the table. Grocery price inflation hit 14.7% in the past four weeks, the highest level since Kantar started tracking the data in 2008. The jump in prices means the average annual shop is set to rise by …