Airline heathrow

New York (CNN Business) United Airlines gave a $10 million deposit to a startup developing electric aircraft — all for the goal of shuttling customers to and from the airport by air rather than gridlocked roadways. It's not clear when or if the plan will come to fruition, as Archer, the company developing the electric air taxis, is still in the development phase. However, the company said Wednesday that's it's finishing the design of its production model. Archer estimates the first of its four-seater helicopters could be in operation by 2024. California-based Archer, which was founded in 2018, has raised nearly a billion dollars, according to analytics company Crunchbase . It refers to its aircraft as an eVTOL, or "electric vertical takeoff and landing" configuration. The company states they'll be able to travel up to 60 miles at up to 150 miles per hour. The aircraft is expected to lift off much like a helicopter, and it'll rotate its propellers from providing vertical to … [Read more...] about United Airlines puts $10 million behind plan to shuttle customers by electric aircraft

An Airbus A319-115 passenger bus veered off the runway during takeoff and caught fire in the Tibet region of China Thursday.  The crash sent black smoke billowing into the air and injured more than 36 passengers and aircrew. The Airbus A319-115, with 122 people aboard, left Chongqing for Nyingchi, in the Tibetan region of China, after leaving the city of Chongqing in the southwestern part of the country. In videos shared by state media, the aircraft’s left side appeared to be on fire as people headed away from the scene. Tibet Airlines said that the videos also showed fire trucks spraying water on the Airbus A319. Tibet Airlines reported that the accident occurred at 8:09 a.m. (0109 GMT). All 113 passengers and nine flight crew aboard the Airbus A319-115 jet were evacuated. Passengers injured evacuation the Airbus A319. According to the Civil Aviation Administration of China (CAAC), 36 people were injured during the evacuation. During the takeoff, the … [Read more...] about Fire on Airbus A319-115 Injures 36 Passengers in China

THAI Airways International has posted a 155% increase in revenue and a narrower loss in the first quarter of this year, with liquidity surging to the highest point since the company filed for bankruptcy in 2020 . On Tuesday, the carrier announced its first-quarter revenue totaled 1.1 billion baht, up 155% from the same period last year. An improvement in the airline’s performance is attributable to an increase in passenger and cargo traffic following the reopening of borders and the lifting of public health restrictions. THAI Airways International and its subsidiaries posted a first-quarter loss of 3.2 billion baht, down from 8.9 billion baht a year ago. There was a loss of 1.49 baht per share, compared to a loss of 5.59 baht per share in the first quarter of last year. The demand for international travel has increased significantly since the beginning of the year. Since the beginning of the month, Thailand’s entry rules have been relaxed, and Test & Go has … [Read more...] about Thai Airways Posts a 155% Increase in Revenue

Shopping carts outside a Bed Bath & Beyond store in Louisville, Kentucky, U.S., on Saturday, Jan. 2, 2021. Bed Bath & Beyond Inc. is scheduled to release earnings figures on January 7. Retail traders who lurk in forums like Reddit’s WallStreetBets are back to betting against Wall Street pros and the Federal Reserve as rallies for meme stocks like Bed Bath & Beyond Inc. and AMC Entertainment Holdings Inc. show shades of last year’s mania. The home-good retailer nearly tripled at one point during its nine-day winning streak while the movie-theater firm capped a 65% rally of its own as speculative pockets of the stock market surge. The pair have powered a basket of 37 meme stocks tracked by Bloomberg higher by 10% over the past week while the most-hated stocks tracked by a Goldman Sachs Group Inc. basket is up roughly 17% over the same period. The resurgence of more speculative areas of the market is likely fueled in part by individual traders willingness to jump … [Read more...] about Meme-stock frenzy returns, baffling Wall Street’s ‘smart guys’

The operator of low-cost carrier Cebu Pacific managed to trim its losses in the first half on the back of better revenues as improving mobility boosted passenger and cargo businesses. In a regulatory filing on Thursday, Cebu Air Inc. said it incurred a net loss of P9.5 billion, narrower than the P13.79 billion in the same period a year ago. This was supported by its total revenues growing by 250.3 percent to P20.68 billion for the period from last year’s P5.9 billion. Passenger revenues grew more than five times to P11.66 billion with volume growing to 6.3 million from just 1.2 million previously. Average fares were up 8.8 percent to P1,855 as of end-June, boosting top line figures in this segment. Cebu Pacific and other local airlines are currently collecting fuel surcharges to cover the cost of elevated oil prices. For this month, airlines are allowed to impose a fuel surcharge of P355 to P1,038 for domestic flights and P1,172.07 to P8,714.84 for international flights per … [Read more...] about Appetite for travel helped Cebu Pacific operator narrow losses in H1