British Airways will probably target Korea, Malaysia and other high-growth Asian markets as it examines how to make the best use of operating slots at London’s Heathrow airport on offer with the takeover of BMI.
American Airlines parent AMR Corp. filed for bankruptcy after failing to secure cost-cutting labor agreements and sitting out a round of mergers that dropped it from the world’s largest airline to No. 3 in the U.S.
Pioneer Food Group Ltd. ’s 828 million-rand ($120 million) takeover offer for KWV Holdings Ltd. is “derisory” and undervalues South Africa’s second-largest wine and spirits company, said Chris Logan , a KWV shareholder.
Emirates, Etihad Airways and Qatar Airways Ltd. say it’s their youth, not state aid, that has allowed them to put the squeeze on western rivals with almost 300 plane purchases worth $70 billion in three years.
Pick n Pay Stores Ltd. ’s proposal to pay Chairman Gareth Ackerman 3 million rand ($397,000) in the year through February 2011 was criticized by two investors, who said the fee was out of line with that paid by other South African retailers.
Air France-KLM Group rose as much as much as 4.1 percent in Paris trading after reports that Europe’s largest airline may seek 800 million euros ($1.1 billion) in fresh cost savings that could lead to thousands of job cuts.
Air France-KLM Group , Deutsche Lufthansa AG and International Consolidated Airlines Group SA, Europe’s three biggest carriers, all dropped after Air France reported an unexpected quarterly loss and cut its forecast.
Deutsche Lufthansa AG said today that the earthquake, tsunami and nuclear crisis in Japan have left the airline industry in shock, as British Airways became the latest carrier to pull crews out of Tokyo and Cathay Pacific Airways Ltd. reported plummeting travel to the country.