Business

Korean Air to take over troubled Asiana Airlines for $1.6 bn

South Korean flag carrier Korean Air said Monday it will buy out its smaller, troubled rival Asiana Airlines in a $1.6 billion deal as it looks to consolidate with the global aviation sector devastated by the coronavirus ...

Central Florida lands hub for Jetsons-like 'flying cars'

The nation's first regional hub for "flying cars" is being built in central Florida and once completed in five years, the vehicles will be able to take passengers from Orlando to Tampa in a half hour, officials said Wednesday.

Business

Airline revenues forecast at half 2019 levels in 2021: IATA

Airline industry revenues are expected to remain 46 percent lower in 2021 than the $838 billion booked in the last pre-coronavirus year of 2019, industry body IATA said Tuesday in a marked worsening of its forecasts.

Business

Lufthansa says 30,000 jobs at risk over pandemic

Germany's Lufthansa has warned that 30,000 jobs are under threat as it scaled down its winter schedule to levels not seen since the 1970s as demand for travel collapses because of the coronavirus pandemic.

Business

Airbus to keep A320 output at 40 per month

European aircraft giant Airbus said Friday it will maintain production of its workhorse A320 plane at 40 per month to mid-2021 when it expects the aviation industry to have recovered from the coronavirus pandemic.

Business

Air industry urges rapid testing instead of quarantine

The global aviation industry called on Tuesday for the development of rapid virus tests for all passengers before departures as an alternative to quarantine measures, in a bid to get people flying again.

Business

Norwegian Air to cut emissions by 45% by 2030

Low-cost carrier Norwegian Air Shuttle said Thursday it planned to slash CO2 emissions by 45 percent by 2030 and reduce its use of plastics as part of a new environmental strategy.

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