BLOOMBERG Finnair Oyj plans to raise as much as €600 million ($632 million) issuing new shares, as the Finnish flag carrier seeks to prop up its balance sheet after its strategy was upended by the closing of Russia’s airspace in the wake of the war in Ukraine. The Finnish state, the carrier’s controlling shareholder, backs the offering and plans to …

BLOOMBERG British Airways (BA) reached a tentative labour agreement with unionised pilots, removing the threat of a walkout through 2027 as the flagship UK carrier cements a recovery from the Covid-19 era travel slowdown. The agreement in principle builds on pay and working-condition changes made last year, BA said in an emailed statement. Members of the British Airline Pilots’ Association …

BLOOMBERG The US Federal Aviation Administration (FAA) says it has closed a mishap investigation into the botched flight of Blue Origin LLC’s New Shepard rocket, which suffered a mid-flight failure in September of 2022. The FAA says the problem was due to a structural failure of a nozzle in the New Shepard’s BE-3 engine, which caused the engine to overheat …

BLOOMBERG Government-imposed changes to the fees Mexican airports can charge will affect all of the companies’ tariffs and not just the charges for airline passengers, according to a person familiar with the matter. President Andres Manuel Lopez Obrador’s administration made changes to the formula that sets price caps for airport tariffs, including the passenger fee known as the TUA, the …

BLOOMBERG Levi Strauss & Co reported quarterly revenue that missed expectations as performance at retailers including department stores dragged down results, leading the company to cut its full-year sales outlook. The denim brand is taking a more “cautious approach” to its projections for the current quarter, according to a statement. It now expects full-year earnings per share, excluding some items, …

BLOOMBERG Italy began the process of selling Banca Monte dei Paschi di Siena SpA by hiring advisers as Prime Minister Giorgia Meloni seeks to maximise the value of the state’s controlling stake. The Finance Ministry will select legal and financial advisers to help in the sale, the ministry said in a statement. The disposal can be done in one or …

BLOOMBERG BYD Co is poised to overtake Tesla Inc as the world’s biggest seller of electric vehicles as the Chinese automaker’s global sales push gains greater traction. China’s best-selling car brand came within a whisker of toppling Tesla last quarter after factory downtime led to the US automaker’s first delivery decline in more than a year. BYD sold 431,603 fully-electric …

BLOOMBERG Tesla Inc reintroduced a Model Y crossover sport utility vehicle (SUV) with rear wheel drive in the US, after reporting third quarter deliveries that fell short of Wall Street expectations. The starting price of the rear-wheel drive Model Y is now $43,990, according to Tesla’s website, and have a stated range of 242-260 miles. The electric vehicles likely use …

BLOOMBERG Tesla shipped 435,059 cars globally in the third quarter, as factory downtime led to its first quarterly delivery decline in more than a year. The results missed expectations. Several Wall Street analysts had slashed their delivery estimates in recent days, and the consensus compiled by Bloomberg fell to 456,722. Tesla delivered 466,140 cars in the second quarter. The electric-vehicle …

BLOOMBERG The European Union (EU) has formally launched an anti-subsidies probe into electric vehicles (EV) manufactured in China, setting in motion a one-year investigation that could see provisional measures such as countervailing duties imposed in the next nine months. The probe, which was announced by European Commission President Ursula von der Leyen in September, will focus on new battery-powered electric …