Southwest Airlines Co reported an annual loss of $3.1 billion on Thursday, its first since 1972, and said it was facing stalled demand in January and February driven by high levels of COVID-19 cases and hospitalizations.
Shares wiped out their gains in Europe for the year early on Thursday, soured by a sell-off on Wall Street, no end in sight to pandemic lockdowns and a squeeze in short positions.
Last night on Wall Street was probably when the short squeeze battle between a herd of solo traders and seasoned hedge funds over GameStop GME.N stopped being funny, at least for investors looking on from the sidelines.
EasyJet urged governments on Thursday to set out a plan for easing COVID-19 travel restrictions as the British airline warned its prospects had worsened for January-March and it could not give forecasts for the key summer season.
Finnish forestry group UPM has decided to start the basic engineering phase for a biorefinery with annual capacity of 500,000 tonnes of high-quality renewable fuels including sustainable jet fuel, it said on Thursday.
Swatch Group said there was a "good chance" 2021 sales could return to pre-pandemic levels after the coronavirus plunged the world's biggest watchmaker into the red during 2020.
Freight carrier FedEx Corp will temporarily relocate its Hong Kong-based pilots to San Francisco because it expects the Asian financial capital to establish strict 14-day hotel quarantine requirements for crew, it said in a memo to pilots.
A pilots' union for Mexico's Grupo Aeromexico said it had accepted cuts amounting to $350 million on collective bargaining pacts in negotiations required for the airline to win a second tranche of bankruptcy financing.
Freight carrier FedEx Corp will temporarily relocate its Hong Kong-based pilots to San Francisco because it expects the Asian financial capital to establish strict 14-day hotel quarantine requirements for crew, it said in a memo to pilots.
Japan's Showa Denko KK said on Thursday it would sell its aluminium business to U.S. investment fund Apollo Global Management as the materials maker steps up efforts to divest assets.
Hong Kong's Cathay Pacific Airways Ltd said on Thursday it would issue HK$6.74 billion ($869.51 million) of convertible bonds to shore up liquidity, sending shares down as much as 9.4% in the worst daily decline in 12 years.[nL1N2K304C]
Qantas Airways Ltd and BP PLC on Thursday announced a strategic partnership to reduce carbon emissions in the aviation sector in Australia as part of their goals to become carbon neutral companies by 2050.
Japan's Showa Denko KK is set to sell its aluminum business to U.S. investment fund Apollo Global Management for more than 50 billion yen ($480.31 million), the Nikkei business daily reported on Thursday.
Hong Kong's Cathay Pacific Airways Ltd said on Thursday it would issue HK$6.74 billion ($869.51 million) of convertible bonds to shore up liquidity as it navigates the challenges posed by the COVID-19 pandemic.
New Zealand will decarbonise its public buses by 2035 and introduce a law this year to import clean cars to cut emissions and fuel costs, Prime Minister Jacinda Ardern said on Thursday, as New Zealand pushes for a carbon neutral target by 2050.
Denim maker Levi Strauss & Co beat analysts' estimates for quarterly revenue on Wednesday, as higher online sales cushioned the blow from a slump in store traffic due to the COVID-19 pandemic.
In trading on Wednesday, shares of Yamana Gold Inc (Symbol: AUY) entered into oversold territory, changing hands as low as $4.51 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum
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