Bloomberg Airbus SE firmed up an order for 100 single-aisle aircraft from Avolon, the aircraft-leasing company owned by China’s HNA Group Co. The deal, worth $11.5 billion before discounts, seals an outline accord unveiled at the Farnborough Air Show in July, the Irish lessor said in a statement. Aircraft orders typically come in stages, and aren’t counted against order totals ...

Bloomberg Hawaiian Holdings Inc. cut its outlook for a key revenue measure, citing low fares and sluggish demand — the second US airline to issue a gloomy forecast in as many days. “Year-over-year visitor growth from North America to Hawaii remains positive, but at a slower pace than industry capacity growth,” the parent of Hawaiian Airlines said. Revenue for each ...

Bloomberg The UK will plow 125 million pounds ($160 million) into electric planes and drones to ease congestion in urban areas, Business Secretary Greg Clark announced. The funding — to be matched by the private sector — aims to develop new technologies to cut pollution from the aerospace industry, as well as to ease congestion in London and other urban ...

Bloomberg Ingka Holding BV, parent of the world’s largest home-furnishings retailer Ikea, has started construction on a $1.2 billion shopping mall in Shanghai that the company says is its single biggest investment. The mall, Ingka’s fifth in China, will span 430,000 square metres and house more than 300 local and foreign merchants, as well as an Ikea store, Ingka said ...

Bloomberg A meeting of Saudi Arabia, Russia and other members of the Opec+ group recommended an oil production cut, but didn’t agree on how big any reduction should be. The group secured Russia’s participation in six months of output curbs starting in January, Oman’s Oil Minister Mohammed Al Rumhy told reporters in Vienna as he left the meeting on Wednesday. ...

Bloomberg US President Donald Trump said China is sending “very strong signals” following weekend trade discussions in Argentina, as uncertainty remains over what commitments were made between the two nations. “Not to sound naive or anything, but I believe President Xi meant every word of what he said at our long and hopefully historic meeting,” Trump said on Twitter on ...

Dubai / WAM Etihad Credit Insurance (ECI), the UAE Federal export credit company, signed a Memorandum of Understanding with French bank Natixis, a subsidiary of Groupe BPCE, the second-largest banking group in France, to strengthen UAE’s exporters’ capability to trade globally, assist businesses to expand internationally and support the UAE’s non-oil diversification strategy. The areas of cooperation between ECI and ...

Dubai / Emirates Business Emirates, the world’s largest international airline, has introduced an additional Airbus A380 service to Johannesburg, replacing the previous Boeing 777 aircraft on the route. EK762 and EK761 are now served by the flagship A380 aircraft. This change in aircraft supports growing demand in South Africa, a 14% increase in seat capacity will be as a direct ...

DUBAI / WAM Dubai Customs bagged three awards at the latest Ideas UK 32nd International Conference 2018, held in Manchester, United Kingdom. The department won the Platinum Accreditation for the ninth year in a raw, scoring 100 percent for the sixth consecutive year; the Idea of the Year for The Advisor (World’s First Customs Training and Explosives Suitcase), innovated by ...

DUBAI / WAM Top industry experts in marine safety addressed the lack of mooring safety at the shore interface and its potential hazards at the 11th Enoc Marine Conference cohosted by the Oil Companies International Marine Forum (OCIMF). Over 130 industry professionals from around the world gathered this year to discuss some of the key factors associated with mooring operations ...