Air Canada has slashed its price to buy Canadian tour operator Transat A.T. Inc, with the deal now worth about C$188.7 million ($143.86 million), down from C$720 million, as COVID-19 weighs on travel demand, the companies said in a statement on Saturday.
U.S. aviation contractors laid off thousands of workers due to delays in payroll aid from the U.S. Treasury that was meant to protect jobs, an investigation by a U.S. House of Representatives subcommittee found.
A group of leasing companies has rejected a restructuring plan put forward by Malaysia Airlines, bringing the carrier closer to a showdown over its future.
Aeromexico said on Friday a New York court had given definitive approval to its request for debtor-in-possession (DIP) financing of up to $1 billion as the Mexican airline works through bankruptcy proceedings.
A group of leasing companies has rejected a restructuring plan put forward by Malaysia Airlines, bringing the carrier closer to a showdown over its future.
FXEmpire.com - Stocks rose sharply on Friday allowing the S&P 500 index to notch up one of the biggest weekly advances in three months. Investors welcomed signs pointing to a decisive result in next month’s presidential election. The market now appears to be pricing in a B
Airbus reached the highest number of monthly deliveries of passenger planes so far this year in September, but logged no new sales as crisis-hit airlines continue to bleed cash.
U.S. House Speaker Nancy Pelosi said she would resume talks on a possible COVID-19 stimulus package with Treasury Secretary Steven Mnuchin on Friday, while Senate Republicans voiced doubts that a deal can be reached before the Nov. 3 election.
The White House is preparing a
COVID-19 relief package of $1.8 trillion to offer lawmakers as
negotiations resume on helping blunt economic pain caused by the
deadly coronavirus pandemic, the Wall Street Journal reported on
Friday, citing people familiar with the discussions.
(Reporting by Lisa Lambert)
((lisa.lambert@thomsonreuters.com; +1 202 898 8328; Reuters
Messaging: lisa.lambert.thomsonreuters.com@reuters.net))
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U.S. Senate Majority Leader Mitch McConnell said on Friday that the White House and Congress were unlikely to reach a deal on a COVID-19 economic stimulus ahead of the Nov. 3 election.
Aeroflot said on Friday the state would take up 50 billion roubles worth of its 80-billion rouble ($1 billion) new share offering, a vital cash injection for Russia's flagship airline that is reeling from the pandemic.
South African coal miner Exxaro said on Friday it was at advanced stage negotiations over the sale of its 24.4% stake in Vedanta Zinc International's Black Mountain Mining (BMM)operations but had not yet finalised the transaction.
BASF slashed its outlook on Friday after heavy writeoffs sent it to a quarterly net loss of 2.6 billion euros ($3.1 billion), blaming a slump in demand caused by the coronavirus pandemic and a glut in basic chemicals.
The Roosevelt Hotel in New York's Manhattan owned by Pakistan International Airlines (PIA) announced that it will shut down for good by the end of this month.
France's health and environment agency announced restrictions on weedkiller glyphosate in farming, but stopped short of a full ban in the European Union's top agricultural producer due to a lack of non-chemical alternatives in some areas.
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The rouble climbed to a two-week high against a weakening dollar on Friday, helped by relatively strong oil prices, even as geopolitical risks and a sanctions threat from the European Union hovered over Russian assets.
Chemicals group BASF said on Friday that its core operating profit could drop nearly 30% this year due to weak demand caused by the coronavirus pandemic and an oversupply of basic chemicals.
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