Kenya Airways' chairman has said that the carrier will reveal details of new investors in a few weeks, as it seeks to raise capital for its turnaround plan, ease debt, and restore grounded aircraft. Kiprono kittony, the chairman of KQ, told reporters that "we have received interest from both 'local' and international investors who are willing to inject capital into the company as well as other resources." The airline is facing a number of challenges, including high fuel prices, delays in aircraft maintenance, and a lack of spare parts. These factors have led to a reduction in capacity, despite booming...

Dubai International Airport's operator reported on Wednesday that passenger traffic fell 31.3% during the first six months of the year as the Iran War disrupted travel across the gulf, including at the busy international travel hub. Dubai Airports announced in a press release that DXB had welcomed 13 million passengers during the second quarter. This brings the total traffic for the first half of the year up to 31.5 millions. This is compared to 46 millions passengers during the same period last year. It?added that the number of aircraft movements in the first half was 150,600, a 32.1% decrease from...

Here are the top stories from the business pages of the New York Times for August 26. The 'New York Times' has not'verified' these?stories, and cannot vouch for the accuracy of their content. SpaceX, Elon Musk’s rocket and artificial-intelligence company, announced on Tuesday that they would invest $100 billion to build a launch facility in southern Louisiana. They aim to send several rockets into space each day. Canada announced Tuesday retaliatory duties of up to 50 percent on hundreds of American products, days after the Trump administration imposed punishing tariffs following the failure of trade negotiations. The Trump administration submitted...

Air India wants 'about $1.5 billion of fresh equity from its owners Tata Sons & Singapore Airlines. This comes months after Air India posted a record-breaking annual loss. This would be the largest request for funding from Air India made public since Tata acquired control of the former government-owned carrier in 2020. The letter highlights the challenges that the airline faces as it undergoes a multibillion-dollar overhaul, including refurbishment of the existing fleet. In the fiscal year ending March, the carrier and Air India Express' budget unit posted combined losses of 2,33 billion dollars. This is more than twice the...

Scott Kirby, CEO of United Airlines, said that he expected airfares to increase gradually in the first six months of 2027 but by less than they did this year due to a strong travel demand. "I believe you will still see gradual increases to fares." Kirby told journalists that the jump was not as large as it had been this year. These comments highlight the continued strength of the travel market, despite rising fares and broader economic uncertainty. Kirby stated that United has not seen a decline in demand, and they expect?that strength will help them recover higher fuel prices...

Many airlines are restoring flights in the Middle East after the conflict caused by the U.S.-Israeli strikes on Iran. However, major carriers remain cautious and many routes will still be suspended into the fall. KEY POINTS Some destinations are still affected, although the majority of flights have resumed. Dubai remains one of the worst affected destinations. Several European and Asian airlines have extended their suspensions until October or later. Through late October, multiple Lufthansa Group carriers will suspend flights to Dubai and Beirut. British Airways, Air Canada and Wizz Air all extended their?suspensions' on Middle East routes. Air France, meanwhile,...

Air India wants $1.5 billion in equity from its owners Tata Sons & Singapore Airlines. This comes months after the second largest Indian airline reported a record-breaking annual loss. This would be the largest request for funding from Air India made public since Tata acquired control of the former government-owned carrier in 2020. The announcement highlights the challenges that the airline faces as it undergoes an overhaul worth billions of dollars, which includes the refurbishment?of its current fleet. Air India Express and the carrier posted combined losses in the fiscal year ending March of $2.33 Billion, which is more than...

United Airlines announced on Tuesday that it will receive enough Airbus A321XLRs to support its European expansion in the summer of next year. The carrier is pushing into smaller markets and expects the travel market in the region to remain strong through the fall months. Chicago-based airline, American Airlines, plans to use its single-aisle, long-range jets on five new European routes by 2027. These include Luxembourg, Ibiza in Spain, and Toulouse in France. The airline is expanding to ten new cities in Europe and Asia, which will be the largest expansion ever in its history. Patrick Quayle is United's senior...

Investors weighed up the new U.S. pressure on Iran and signs of progress in a mediated 'talks' with Tehran, mediated by Pakistan. Scott Bessent, the U.S. Treasury secretary, announced on Monday new measures but did not impose the most severe sanctions. He warned that countries who continue to trade with Iran risk being expelled from the?financial systems based on dollars. Pakistan and Iran have made "significant progress" during talks on the U.S. and Israeli war against Iran, and efforts to achieve peace. This was revealed by Pakistan's Interior Minister on Tuesday after a trip to Tehran. Saudi Arabia's benchmark index...

WestJet's?flight attendants voted on Monday to accept a tentative deal that would?increase wages?"by a?more than 18%?over the next three years?, according to their union. This follows a strike earlier in the month that resulted in hundreds of cancellations. Flight attendants at the airline 'also received duty pay premiums as part of an 'overall shift in North America where cabin crews are challenging compensation structures based primarily on flying time, rather than each?hour worked. The Canadian Union of Public Employees (CUPE), which represents 4,400 WestJet Flight Attendants, sought compensation for the period from when members report to work until their clock-out....

The company announced on Monday that German investor Klaus-Michael Kuehne died at the age of 89. He was the controlling shareholder in the Swiss logistics group Kuehne & Nagel. Kuehne is the grandson to August Kuehne who founded the company. He also holds major stakes in German companies Lufthansa and Hapag-Lloyd, chemicals trade group Brenntag, and bus and train service operator Flix. He is a dominant figure in the world of shipping and logistics. Kuehne + Nagel, which was a small family business, has grown into one of the largest logistics groups on earth. Forbes estimates that his holdings are...

Southeast Asia's budget airlines hope the worst fuel crisis from the Middle East is behind them, but they face a "difficult" second half due to margin pressures and strained household budgets. AirAsia, Singapore Airlines and Cebu Pacific's latest quarterly results show that attempts to recover fuel costs by raising fares failed. AirAsia, Cebu Pacific and Scoot all reported losses. Scoot saw its operating loss almost double. The results revealed a strain at the core of the low-cost airline model. Fuel costs are higher than full-service airlines but the price-sensitive nature of passengers leaves carriers with less room to raise fares...