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PARIS: The French government’s rescue plan for the struggling aerospace industry includes billions of euros in financial aid for suppliers hit by the Covid-19 pandemic.
HONG KONG: Cathay Pacific Airways Ltd has outlined a plan to raise HK$39bil (US$5bil) from the Hong Kong government and shareholders after months of warnings about the frailty of its business because of Covid-19 travel restrictions.
LONDON: British Airways is battling its pilot union that’s pushing back on further job cuts as the carrier initiates the legal process to block the UK’s 14-day self-isolation plan for arrivals starting today.
Europe’s airlines aren’t all made equal. German flag carrier Deutsche Lufthansa AG will receive a 9bil (US$10bil) bailout and it was obliged to offer only limited concessions to Brussels in return.
BERLIN: Chancellor Angela Merkel’s coalition agreed on a sweeping 130bil (US$145bil) stimulus package designed to spur short-term consumer spending and get businesses investing again.
CHANCELLOR Angela Merkel’s coalition agreed on a sweeping 130 billion-euro ($146 billion) stimulus package designed to spur short-term consumer spending and get businesses investing again.
FRANKFURT: Deutsche Lufthansa AG signalled the start of a company-wide revamp spanning job cuts to asset disposals to help repay its 9 billion-euro (US$10bil) bailout from the German government.
LONDON: Deutsche Lufthansa AG may have won its battle for state aid, but its surrender of airport slots to appease regulators heralds heightened conflict between European aviation’s old guard and low-cost challengers.
FRANKFURT: The German government has bristled at the European Commission’s antitrust demands on its €9bil (US$9.9bil) bailout of Deutsche Lufthansa AG, in a sign of rising tensions over the stalled aid package.