Britain has turned to Morgan Stanley for advice on a package of measures to keep its airlines in business during the coronavirus crisis, after warnings that the industry might implode, two sources familiar with the matter told Reuters.
United Airlines Holdings Inc expects to reduce its daily cash burn to below $40 million in the third quarter, even with zero passenger revenues and no additional capital raisings, and will continue taking jet deliveries this year and next, executives said on a conference call.
Two South African trade unions are seeking court action to try and block layoffs at the embattled state-owned South African Airways (SAA), according to court papers seen by Reuters on Friday.
India said on Friday it would extend its nationwide coronavirus lockdown for another two weeks after May 4, but would allow "considerable relaxations" in lower-risk districts marked as green and orange zones.
The head of the commercial aircraft unit of Embraer defended the benefits of a $4.2-billion tie-up abandoned by Boeing Co but said the Brazilian aerospace group was focusing on its future as a re-united company.
Recent turbulence in the price of light sweet crude oil futures has highlighted how little is known about the positions of traders and their impact on the formation of prices.
Honeywell International Inc on Friday became the latest aerospace supplier to withdraw its full-year outlook on weak demand as the aviation industry struggles with COVID-19 led lockdowns.
Lufthansa is negotiating a 10 billion euro ($10.98 billion) bailout that would result in Germany taking a 25.1% stake in the airline, weekly paper Der Spiegel said on Friday.
South Africa took its first shaky steps on Friday towards rolling back one of the world's strictest COVID-19 lockdowns as it sought to strike a balance between containing the disease and reviving its battered economy.
Honeywell International Inc on Friday became the latest aerospace supplier to withdraw its full-year outlook, as it faces weak demand due to the COVID-19 pandemic that has battered businesses globally.
In Cargill Inc's High River, Alberta plant, supplier of more than one-third of Canada's beef, 391 workers were sick with coronavirus when the company suspended operations, according to provincial health officials.
Mark, 34, quit his job as a town planner in London last year to start flight-training school, buoyed by a conditional offer of employment with budget carrier easyJet at a time when the airline industry was desperately short of pilots.
After April finished with a whimper on stock markets, the new month has come in similarly weak. Threatening to make a bad situation worse is President Donald Trump, who has weighed in with a threat to impose new trade tariffs on China in retaliation for coronavirus.
Mark, 34, quit his job as a town planner in London last year to start flight-training school, buoyed by a conditional offer of employment with budget carrier easyJet at a time when the airline industry was desperately short of pilots.
The fate of Norwegian Air was in the balance on Friday after a deadline passed overnight for bondholders to vote on a rescue package for the transatlantic budget airline.
Ryanair plans to cut 3,000 jobs and talk to Boeing about delaying plane deliveries as it does not expect European air traffic to recover fully from the coronavirus crisis until 2022, the Irish airline said on Friday,