Bloomberg News

Temasek-backed SATS plunges on macro headwinds, Jet Airways

Singapore airline services provider, SATS Ltd., plunged after it reported a drop in earnings due to global macro headwinds and suspension of an Indian airline. Shares of SATS plunged as much as 5.6% on Friday, the most in nearly seven years. The provider of in-flight meals and ground-handling services, considered a bellwether of global economy, […]

Amazon unveils futuristic helicopter-plane hybrid drone for deliveries

Amazon.com Inc. has unveiled a revolutionary new drone — part helicopter and part science-fiction aircraft — that the company expects to use for test deliveries of toothpaste and other household goods starting within months. The new device takes off vertically, then tilts to fly horizontally like a plane. It also features artificial intelligence, using a suite of […]

Air cargo carriers are caught in crossfire of Trump-China trade war

Donald Trump’s intensifying trade war with China dented air cargo traffic even before FedEx Corp. got dragged into the brawl, as companies worldwide reconfigure their supply chains in the face of increasing tariffs. Global cargo demand fell 4.7% in April from a year earlier, according to the International Air Transport Association, equaling a February drop […]

Flying taxi startups using European technology to debut in Asia

The world’s first passenger-drone services may debut in Asia -- but the technology behind these flying taxis will be largely European. Volocopter GmbH of Germany said Thursday it will open a landing facility in Singapore later this year for trial flights, while Austria’s FACC AG is working to produce hundreds of passenger drones for Chinese partner EHang Inc.by the […]

Google spinoff’s drone delivery business first to get FAA approval [VIDEO]

An offshoot of Alphabet Inc.’s Google has become the first drone operator to receive government approval as an airline, an important step that gives it the legal authority to begin dropping products to actual customers. The subsidiary, Wing Aviation LLC, now has the same certifications that smaller airlines receive from the U.S. Federal Aviation Administration and the Department of […]

Crew Recording on Doomed Amazon Jet Reflects `Loss of Control’

Recorded conversations by pilots on a cargo jet carrying packages for Amazon.com Inc. that crashed last month near Houston reveal they began losing control of the aircraft about 18 seconds before it slammed into a shallow bay, investigators said Tuesday. The communications captured on the cockpit sound recorder were “consistent with a loss of control […]

U.K. Terror Police Say Explosive Devices Sent to Transport Hubs

Three packages containing improvised explosive devices were mailed to two London airports and a major train station on Tuesday, the Metropolitan Police said in a statement. The Met’s counter-terrorism command is investigating and treating the incidents as linked. The white postal bags each contained small devices, one of which was opened, causing it to ignite, […]

Fred Smith gets new heir apparent after shock exit of FedEx COO

FedEx Corp. named a new No. 2 executive after company founder Fred Smith’s top deputy resigned abruptly, just weeks after joining the company’s board of directors. Raj Subramaniam will take over as president and chief operating officer (COO) March 1, replacing David Bronczek, FedEx said in a statement Thursday. Bronczek, 64, made a “personal decision’’ […]

FedEx sets up late-night race for retailers to challenge Amazon

FedEx Corp., looking beyond Amazon.com Inc. for growth in e-commerce, is introducing a new late-night shipping option for retailers who want to speedily send orders directly to online customers. The program will offer retailers the option to deliver items the next day when they are purchased online as late as midnight, said Brie Carere, FedEx’s […]
Page 2 of 2«12